Career
After publishing his first book, Wolff received an advance to write a novel, which he never finished. A college friend, Steven J. Hueglin, who had become a successful Wall Street banker, asked for Wolff's help in evaluating investments in media companies. He pulled him into a career as a media business entrepreneur.
In 1988, Wolff took over the management of the magazine Campaigns & Elections. He became involved in advising start-up magazines, including Wired. He also raised financing for media companies and new businesses.
In 1991, he launched Michael Wolff & Company, Inc., specializing in book-packaging. Its first project, Where We Stand, was a book with a companion PBS series. The company's next major project was creating one of the first guides to the Internet, albeit in book form. Net Guide was published by Random House. On the eve of launching the title as a monthly magazine, the incipient magazine was bought by CMP Media, the publisher of computer magazines.
Wolff's company continued to publish a succession of book-form Internet guides. In 1995, the company took a round of venture capital investment, with shareholders including Patricof & Co., the New York venture capital firm. It began to convert its print directories into a website and digital directory called Your Personal Network. At one point, the company was valued by bankers seeking to take the company public at more than $100 million. The venture collapsed in 1997, and Wolff was expelled from the company.
Read more about this topic: Michael Wolff (journalist)
Famous quotes containing the word career:
“It is a great many years since at the outset of my career I had to think seriously what life had to offer that was worth having. I came to the conclusion that the chief good for me was freedom to learn, think, and say what I pleased, when I pleased. I have acted on that conviction... and though strongly, and perhaps wisely, warned that I should probably come to grief, I am entirely satisfied with the results of the line of action I have adopted.”
—Thomas Henry Huxley (1825–95)
“I restore myself when I’m alone. A career is born in public—talent in privacy.”
—Marilyn Monroe (1926–1962)
“From a hasty glance through the various tests I figure it out that I would be classified in Group B, indicating “Low Average Ability,” reserved usually for those just learning to speak the English Language and preparing for a career of holding a spike while another man hits it.”
—Robert Benchley (1889–1945)