2min chapter

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#59 Howard Hughes: The Definitive Biography of the First American Billionaire

Founders

CHAPTER

Hughes Tool Company - The Genius Idea

Howard Hughes refused to sell his bit outright. Instead he leased the bit on a monthly basis, providing free sharpening and maintenance as the device required in this manner,. Each bit paid for itself within a few months. And with each successive month, which generating nearly all profit.

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