When Andy Klein dropped out of lawyering to open a microbrewery, he had no intention of revolutionizing the stock market. But then he raised $1.6 million for his upstart Wit Beer through the first independent public offering over the Internet. He not only found himself riding a shock wave of over 3,000 news stories, he found himself in touch with thousands of eager, on-line investors. The entrepreneurial next step was obvious, at least to Klein. He founded Wit Capital, the first investment house to bring investors and capital-hungry companies together directly via the Internet, without brokers or commissions, and without the constraints that once restricted primary offerings to huge investors only.
Told in the breezy style of Liar's Poker, this is the story of Andy Klein's evolution from pampered Cravath lawyer, to pack-the-boxes-yourself entrepreneur, to Wall Street revolutionary out to "democratize" the process of investing. But far more than a fun read, it is a hands-on guide for entrepreneurs and investors alike on how to make the "ground floor" of capitalism work for you in the age of the Internet.
