First of all, I’m guessing that Mike Railey didn’t save up much of the money he was making as a mortgage broker over the last several years if for no other reason than he admitted that he was scared and struggling. That kind of speaks for itself.
Fortunately, as a society we all benefit from entrepreneurs/inventors like Railey. Sure, 99% of them bite the dust, but that 1% brings an awful lot to the table. Who knows? Maybe Railey’s motorized surfboard will be some great benefit to consumers. Regardless, as a society we benefit from all those who try (in aggregate) even though the vast majority fail (individually).
When I meet people like Railey – and there are a lot of them out there – I always tell them that I think they’re crazy, but I thank them for their efforts. Find me 100 Raileys and I’ll bet against all 100… and I’ll be wrong maybe on one. But that one success, well that’s what really moves society forward. So long as I don’t have to personally subsidize these wacky folks, I’m a big fan of their risk taking.
