786: Mitch Lowe | Lessons in Disruption Part One

Poster Venture

Mitch Lowe's entrepreneurial journey began with an unexpected opportunity to sell blacklight posters in Europe. He was approached by a character named Funky Sam, who offered him the chance to be a European salesperson for these posters, a venture that required no prior planning or qualifications 1. Mitch's approach was simple: visit bookstores and other potential retailers, which led to a massive order worth $100,000 in 1970, equivalent to nearly $730,000 today 1. Despite the initial success, the company eventually went bankrupt after being sued by Disney, but Mitch walked away with a significant commission, allowing him to travel and explore Europe 2.

   

Trading Model

Mitch Lowe's trading model involved buying old Mercedes in Germany and trading Romanian silk blouses, highlighting his knack for cross-border trade. He would purchase these blouses for a fraction of their value and sell them at a significant markup in places like Rodeo Drive, Beverly Hills 3. This venture was not without risks, as Mitch often had to navigate the complexities of smuggling and dealing with authoritarian regimes 4. One memorable incident involved hiding cash in a car to avoid detection by Romanian authorities, showcasing his ability to remain calm under pressure 5.

   

Influential Connections

Mitch Lowe's open-mindedness and opportunism led him to meet influential figures like Andy Warhol. His willingness to seize opportunities, such as offering to drive Warhol and his entourage around Southern France, allowed him to form connections with high-profile individuals 6. Mitch attributes these encounters to a mix of luck and being in the right place at the right time, but also emphasizes the importance of being open and respectful to different cultures and backgrounds 7. His story illustrates how taking initiative and being adaptable can lead to unexpected and valuable relationships 8.