Craig McCaw's business acumen was shaped by early trauma and a complex inheritance. He learned the importance of trust and careful selection of associates, shaping his approach to business. Despite dyslexia, he excelled at Stanford and took over his father's cable business, which he expanded significantly. McCaw's strategy involved leveraging acquisitions and using debt as a tool for growth, always with a contingency plan. His ability to adapt quickly and his vision for telecommunications led to multiple successful ventures, including McCaw Cellular, which was eventually sold to AT&T for billions.
Craig McCaw's journey into the business world was catalyzed by the death of his father, Elroy McCaw, in August 1969. At 19, while a sophomore at Stanford University, Craig faced the challenge of navigating his father's complex legacy. Elroy was a maverick in the broadcasting and real estate sectors, known for his unconventional approach and significant deals. For instance, he turned a $450,000 investment into over $20 million within seven years. An anecdote highlights Elroy's eccentricity: he accidentally attended a top-secret briefing for President Kennedy on the Cuban missile crisis, mistaking it for a meeting with General Curtis E. LeMay. The aftermath of Elroy's death revealed a tangled web of oral agreements and investments, taking his widow, Marion, seven years to sort out. This period profoundly influenced Craig, teaching him the importance of trust and the value of self-reliant employees in business. Despite his dyslexia, Craig graduated from Stanford with a history major. He had worked summers at Twin City Cablevision, a small cable TV operation, which proved pivotal when he took over the company after his father's death. Surprisingly, the company was owned directly by him and his brothers, a fact unknown until an acquisition offer revealed it. Instead of selling, Craig chose to expand, making his first acquisition before graduating. This marked the beginning of Craig McCaw's independent business empire, shaped by lessons from his father's life and his own experiences.
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