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    3 Replies Latest reply on Sep 19, 2008 4:30 PM by caffeinated

    Bootstrapping?

    caffeinated Scout
      What's the origin of the term bootstrapping? I know it means to raise capital without any outside help, but where did it come from?
        • Re: Bootstrapping?
          LUCKIEST Guide
          Bootstrapping??

          *From Wikipeda, *the history of bootstrapping or *booting which
          began in the 1880's as a leather strap*
          *and evolved into a group of
          metaphors that share a common meaning, a self-sustaining process*
          *that
          proceeds without external help*.

          *also, Financial bootstrapping is a term used to cover different methods for avoiding using the financial resources of external investors.
          Bootstrapping can be defined as “a collection of methods used to
          minimize the amount of outside debt and equity financing needed from
          banks and investors”. The use of private credit cards is the most known form of bootstrapping, but a wide variety of methods are available for entrepreneurs. While bootstrapping involves a risk for the founders, the absence of any other stakeholder gives the founders more freedom to develop the company.*

          Nothing original. Copied from Wikipeda, LUCKIEST
          • Re: Bootstrapping?
            Lighthouse24 Ranger
            You sure post some interesting questions!

             

            I have a friend who is linguist. She says that the earliest literary reference is in one of the Adventures of Baron Munchausen, by Rudolph Erich Raspe published in 1785:

            The Baron had fallen to the bottom of a deep lake. Just when it looked like all was lost, he thought to pick himself up by his own bootstraps. (In spite of what Wikipedia says, boots had leather straps to help you pull them on way before 1880.)

            The author James Joyce (who was big on prose and idioms) is sometimes credited with popularizing the use of the term in the 1920's to mean bettering oneself without outside assistance. Other related metaphors seem to have evolved from there.