"Bill then insisted on a truly extraordinary proposition: **He would personally buy the land and build the store—for about $9 million as it turned out—and would sell it to us at his cost if it proved to be successful**. On the other hand, if sales fell short of his expectations [$30 million in first-year sales], we could exit the business without paying Bill a cent. This outcome, of course, would leave him with a huge investment in an empty building. I told him that I appreciated his offer but felt that if Berkshire was going to get the upside, it should also take the downside. Bill said nothing doing: **If there was to be failure because of his religious beliefs, he wanted to take the blow personally**. ([Location 1955](https://readwise.io/to_kindle?action=open&asin=B00K33E460&location=1955))" --- **Tags** -- [[quotes]], [[acquisitions]] , [[intangible-assets]] , [[character]], [[reputation]], [[trust]] , **Source** -- [[202407260951 - B - Berkshire Beyond Buffett]]