Back to #400 The Stubborn Genius of James Dyson, with David Senra.
Why Did James Dyson Build the Vacuum Himself?
David Senra says James Dyson dropped licensing and built the vacuum himself after almost all of the license agreements failed and precious time was wasted.
The plan with his partner, made several years earlier, was to let other companies manufacture the technology. Progress stayed thin, so he reversed it. Competitors were content selling bags and their loss of suction, and making the machine himself meant control of the future, the development, and the designs. Dread at becoming a manufacturer turned into a feeling of being liberated. He had no money. Selling equity brought no investors. He borrowed $600,000 for the tooling and put his house up as collateral.
He aimed not to be clever, but to be dogged. His doggedness carried him to his own cyclonic vacuum. On May 2nd, 1992, he looked at the first fully operational, visually perfect Dyson dual cyclone. Not a single investor had believed in it.