He worked there daily for about 9-10 hours a day and lived in a boarding house. That’s a lot of work for a kid who just dropped out of the eighth grade. That explains his good skills that he is learning from his father. During his time at the boarding house he met a couple of school teachers who resided there. Unlike Simplot who was getting paid cash the school teachers were getting paid from an interest bearing scrip. What is that? Well an interest bearing scrip is “an Investment such as bonds and certificates of deposit that pay regular, periodic interest”. (Wikipedia) Simplot purchased the scrip for about 50 cents to the dollar, eventually selling it to his local bank for about 90 cents on the dollar. He brought items with the money he attained, which included a rifle, an old truck and 600 hogs for about a dollar a head. During the spring he sold the hogs for about 12.50 a head which and my opinion was a great profit.( Schlosser’s) You can see Simplot’s had very good skills getting profits from the things that he buys. My opinion he is very smart at his age. At the age of 16 he became a great potato farmer. During that time in the 1920’s the potato industry in Idaho was just …show more content…
Simplot who only focused on potatoes and onions now has a company that processes corn, peas, broccoli, avocados, and carrots and also feeds in and processes cattle. He also produces oil and in 1980 he provided 1 million dollars in startup funds to a couple of engineers. Twenty years later, his investment in Micron Technology is now worth an estimated 1.5 billion dollars, way to go Simplot. It’s so powerful that a young school dropout who focus on working on the farm in harvesting potatoes would soon become one of the most successful people in the French fry industry. Starting a young age Simplot took the skills his father gives him before leaving on his own in eventually meeting other people who helped him on his journey. He created powerful inventions that caught the eye of other people eventually taking his skills to another level. He created the frozen French fry with a group of chemists which lead a temporary contract with the now powerful McDonalds. It was thought to be temporary but more Americans were buying more fries leading to his success in him further his skills and creating other well-known companies. Congrats Simplot you really did start from the bottom and