This isn't just a fascinating historical look into an obscure trade, but the a story of an businessman with amazing will and fight that took big risks to make big money, in the process created great debt and then looked for opportunity to repay his debt and make a profit instead of wallowing in his losses.
Do you think Tudor knew he had a good idea - or did he just believe it?
There are countless businessmen with the qualities you pick out - "amazing will and fight". Most of them end up in ruin. They all at least believed they had a good idea.
If Tudor isn't different in that he knew (in the epistemic sense of a justified true belief) he had a good idea, then we also have to acknowledge that he was damn lucky. We have to acknowledge the extent to which entrepreneurs are playing out a process of trial and error.
This guy reminds me of Donald Trump. After sinking deep into debt you query your investors with the assumption, "the only way you're gonna get your cash back is if you invest in me again."
Throwback to old VC mantra: Invest in the entrepreneur, not the idea!
