MY FAVOURITE ENTREPRENEUR — CHARLES FOSTER KANE.
As part of our Entrepreneurship Development & Project Management course, I was asked to submit an assignment where I had to “write about any entrepreneur that has influenced you & why?” The following is my write-up about Charles Foster Kane, the protagonist of Orson Welles’ Citizen Kane (1941).
“It is a truth universally acknowledged, that a single man in possession of a good fortune, must be in want of a wife.”
Charles Foster Kane had in his possession so much wealth and reputation that he had to marry once and at the same time, keep a mistress. But this is not the story about how Citizen Kane met his lovers: this is about how he got there.
This assignment is divided into four parts: 3 sections dissecting his intrepid and tumultuous life, each centered around the Andrew Carnegie Dictum and resembling the 3 act tragedy. The last section is dedicated to how I am inspired by this larger-than-life personality.
“To spend the first third of one’s life getting all the education one can.” — Early Life
“If you really want to hear about it, the first thing you’ll probably want to know is where I was born, and what my lousy childhood was like, and how my parents were occupied and all before they had me, and all that David Copperfield kind of crap, but I don’t feel like going into it, if you want to know the truth.” — The Catcher in the Rye (J. D. Salinger)
Everyone has their own share of mommy or daddy issues. Sadly, Charles Foster Kane had both in enough quantities. If you ask any learned psychologists and psychiatrists in the world, they’ll agree that whatever evil or angel you turn out to be, has its genesis in your childhood. Kane’s life trajectory stays true to the rags-to-riches archetype.
Kane household was poor, like any family struggling to live through the economic downturn. He was born in Little Salem, Colorado. His fortunes changed his mother became the owner of an accidental gold mine. Like almost all rich parents would do, his mother sent him away for education and put him under the guardianship of New York-based banker Walter Parks Thatcher (heavy Britney Spears vibes). The resentful, the then sixth richest millionaire Kane ever since developed a disaffection towards any sort of relationship. He always went behind the riches, because that is all he grew up with and had a very bad reputation and behaviour that is never desired of an entrepreneur.
The turning point of his career happened when he came into ownership of a disastrous newspaper New York Daily Inquirer when he returned from a trip. What started off as a fun little affair turned out to be something that filled the rest of his life and defined him.
“To spend the next third making all the money one can.” — Middle Age
“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness.” — A Tale of Two Cities (Charles Dickens)
Realising the thirst of Americans for sentimentality, he turned the newspaper into his mouthpiece against the evils that plagued the nation, voicing his opinions against the monopolistic tendencies showcased by railroad barons and politicians. His sensationalist news, though ruffling a good chunk of his friend circle, won the hearts of the public. He is even said to have caused the Spanish War, heating the conflict by saying “You provide the prose poems; I’ll provide the war.”
His business empire now stretches newspapers in Chicago, Detroit, Philadelphia, San Francisco, and other major American cities, apart from the New York Inquirer. He also has controlling interests in television, radio, shipping, logging, etc.
He had a prolific political career, aligning with different parties at different points in life. Marrying the niece of then POTUS, he had a great chance of being a future President… until he didn’t, by opening his mouth. His political opinions were a pain in the ass for many influential people. A scandalous affair with Susan, a budding star, sent a death nail to his political ambitions, though later in his life, he did keep in contact with the who’s who of geopolitics.
After these unfortunate incidents, Kane distance himself from others, a big no-no for any entrepreneur who wants to sustain their business. After his first wife’s death, he remarried Susan Alexander. He then continues to destroy their life by investing more time in building a futile career for his wife. He built an opera house for her and made his employees write a favourable review for her.
His friends start distancing from him and he decides to spend the rest of his life, barely running a failing, almost sick, media empire from his extravagant the mansion where he imprisons himself and his wife (though the latter separates later on.) The loss of his companies did little good to his health. He is also forced to hand over the financial management of his businesses to the aged Thatcher, though he alleges that there s only cash flow problems.
“To spend the last third giving it all away for worthwhile causes.” — Later Age
“It’s funny. Don’t ever tell anybody anything. If you do, you start missing everybody.” — Catcher in the Rye (J. D. Salinger)
The business downturns of the Great Depression — as well as Kane’s excessive spending habits on the crumbling and unfinished Xanadu — forces him to downsize his media empire. He is also forced to hand over financial management of his businesses, although not operational control of his newspapers, to the aged Thatcher.
Charles Foster Kane eventually becomes a recluse at Xanadu, his unfinished palatial mansion, living alone and estranged from all his friends and family and no longer wielding much influence over politics. Most of his giant estate is now overgrown, with most of the animals gone from its zoos. Kane and Xanadu are now a paler reflection of towering figures that hosted America’s cultural scene.
He dies alone in his estate, reminiscing about his childhood. His death was mourned by the nation, the newspapers praising him to different extents: a stellar example of an entrepreneur who shaped America with his vision. His assets were either sold off or burned.
Inspirational Qualities
Why do I love him? Why am I writing about him? I don’t know.
But all I know is that he has cut a path for me to walk. He led a life of example. Whether I should retrace the steps or learn from his mistakes is left to me.
He is the prime example of the belief that money is seldom the pinnacle of life. That you can’t take your wealth with you when you die, it is to be left in Earth. After a certain threshold, philanthropy is the way to go. And that bar isn’t that high. You will be remembered for what you did to others.
In death, you are lonely. It is true when they say that all your life, you gather friends to attend your funeral. But sadly, Charles Foster Kane had none.
Whatever he had, he ruined it with his character and arrogance. His life taught me that you need to have friends around you to make your life more tolerable and happier. Don’t piss them off much. He was rich in money and poor in love.
Kane was a bad manager of finance. If you trace his life, we could find that most of his decisions were more emotional and seldom rational. This is the reason why, nearing the end of his life, he was nearly broke and had to liquidate most of his assets to keep his Xanadu. Keep your finances on track; whenever you venture out to satisfy your megalomania, make sure that you have adequate capital with you. The opera house and Xanadu derailed his career.
His political career did no help rejuvenate it.
Charles Foster Kane could be cited as an example of the fact that when your job becomes your passion, you will be a force to reckon with. You have to create your image around fear and have to build a personal brand, along with the brand name your brainchild possesses.
His life is a cautionary tale for any budding entrepreneur.
He also makes me realise that the most expensive commodity in one’s life is rarely the collectables, or Veblen goods or palaces and all. It is one’s life and the memories we have. Wealth comes a distant second. Even after spending most of his life suffering from Shining Object Syndrome, the thing he kept close to his heart was…
