Oracle once almost couldn’t make a payroll — Larry Ellison shares his experience
Sometimes for an unaware reader the fact that succeeded, huge corporations somehow had a poor beginning many years ago can be really confusing an even unbelievable. And for the corporations, the beginning wasn’t even nearly easy. Actually, almost every great of them had a rough start. So Oracle, the third largest software maker in the world, is not an exception to this rule at all.
On his traditional cocktail reception in San Francisco, Larry Ellison, one of the founders of Oracle and the fifth-wealthiest person in the United States by Forbes, shared that one time Oracle was really broke and it almost could not make a payroll.
Hosting a cocktail reception to mentor startup founders has already become a proper tradition for Larry Ellison. He hosted more than 20 startup founders this year and wanted to share with them a simple secret that he fully understood when he was quite young and that helps him even now, even considering his successful career. Even corporations like his own, he said, could have some hard time and it is an important thing to keep in mind during struggles and difficulties.
Ellison shared, that once Oracle almost could not make a payroll. At the beginning of its developing, it took nearly three months counting from the moment of making an agreement for its very first buyer to send a check to Oracle. By the way, their first client actually happened to be the CIA.
Oracle engineers with Ellison himself were developing databases. And even considering this they didn’t have enough money for their company to exist properly. The decision they made was rather simple but surprisingly effective. The workers just started to consult other Silicon Valley companies. It was a smart move and helped the company to survive in its very beginning. It gave an opportunity to earn money and actually create a database for the first time. From that time the company started to develop and became what it happens to be now.
The most important thing is to have a healthy middle between something you really want to do and something that brings you the money you need, such an advise Larry Ellison gave to young startuppers.
And at this moment, after four decades of Oracle’s existence, it is still an important figure and can be a serious opponent in cloud spaces even to such enormous corporations like Amazon, Microsoft, Google and others market giants.
Even more, Ellison mentioned how necessary it is to move on and not to be stopped by long-standing, routine solutions.
He said new problems require from them, technologies developers, new ways of dealing with them. If you work with technologies, he said, it is your job to provide the upgrade of your company even if this was didn’t exist before.
Until now, the main developing subject of Oracle was databases that were mainly autonomic and based on AI. But Larry Ellison recently foreshadowed the Oracle Generation of the second generation. What will it be and, what’s even more important, how good will it be? We will see soon.
November 13, 2018