ProCNKT Weekly

Ed Bolian/VINwiki

Author

Donagan Anderson
September 23, 2024 • Estimated Reading Time: 10 minutes

Business Spotlight.

In this weeks issue you can expect…

Table of Contents

This weeks Spotlight….Ed Bolian/VINwiki

Ed Bolian was obsessed. The Cannonball Run. It’s 2013.

After 18 months of prep and 10+ years of research, it's time! Ed Bolian was about to attempt the ‘impossible”. A record-setting drive from the Red Ball Garage in New York City to the Portofino Hotel in Redondo Beach, Los Angeles, covering approximately 2,906 miles (4,677 km). 

After a struggle to find co-drivers. Ed would reach out to Dave Black and Dan Huang in the eleventh hour. Both of whom would accept. It was official they were doing it. God seemed to be looking out for the trio. 109 mph across Ohio, nearly 117 mph across Illinois.Nearly seamless driver changes, fuel stops and adding oil every now again to their steed of choice, a 2004 Mercedes-Benz CL55 AMG. 

Pulling into the Portofino Ed and crew knew they’d done it! With an overall average speed of 98 mph…They had crossed the country in 28 hours and 50 minutes! 2 hours and 14 minutes faster than the previous record.  

Ed described the moment as “every bit of catharsis I’ve ever needed.” After being pushed to the limit of what he thought he was capable of and after a decade of dreaming he’d done it! The record would stand till 2019.

Even from his first business in college, running a super car rental company, Ed always integrates his love of cars into everything he does. VINwiki, founded in February 2016 by Ed Bolian, Dan Huang, Dave Black and Adam Flegge might be the truest expression of this. Created by car enthusiasts for car enthusiasts. A platform to share and track the history of their cars beyond what conventional history trackers offer. While it was a well executed app, business has a way of turning out slightly differently than we might have thought. Best laid plans of mice and men right?

After its creation VINwiki sat in the app store and grew slowly.

 “You tend to think that when you build an app or website that a butterfly will flap its wings somewhere in Kansas and people will come flocking to your idea.”

Ed Bolian

In June of 2017, as a last-stitch effort to drive growth to the app, Ed set up a bunch of car decorations in his garage, invited some friends over and told their favorite car stories. They recorded the stories and uploaded them to the VINwiki Youtube Channel. Those videos would go on to get hundreds of thousands of views. Today several have over a million views. Most business ideas are bad. Some ideas are good but just need a little retooling to become once in a lifetime. Ed continues to show that grit and determination can get you across the finish line when all other options are exhausted. The VINwiki YouTube channel now has two million subscribers and over a BILLION total views! The app has thousands of positive reviews at 4.8/5 on the app store and continues to innovate and expand. 

Ed and the VINwiki community exemplify what I love the most about entrepreneurship. The ability to relate to the everyman, the building of a niche and vibrant community and the determination to stand back up when we’re down to accomplish our dreams!

There are so many more stories from Ed and the folks at VINwiki, from El Chapo’s Mclaren, stolen Lamborghini’s, CarTrek and beyond, but I’ll let them tell you. I just hope to use this as a warm introduction to what has been an incredibly influential brand and entrepreneur to me personally.

We’ll end today's write-up with a portion of the dedication written in the beginning of Ed’s book, about their cannonball run, For the Record.

“For my son Gram……This Awesome God that we get to serve set a stage for humanity to exist upon. It involves a constant struggle between pride and benevolence, comfort and fear, winning and losing. One of the coolest things that God ever did was build the world so that we could have great experiences, make a mark and truly achieve something great. I want to tell you about a goal that came to define a significant portion of my life and where the journey to explore and eventually conquer that idea took me. I’m writing these first words sitting just a few feet away from you. You are three days old.”

-Ed Bolian

Ed says that his hope for his son and everyone is to find your cannonball, that goal that can carry you through the most difficult moments of your life. The chance to pursue something great that can shed a light on who you are and what you’re capable of.

Thank you Ed for your time and graciousness and for inspiring me to chase my Cannonball.

Market Recap

The stock market showed mixed performance this week. The Dow Jones Industrial Average (DJI) closed at 42,063.36, up by 38.17 points (0.09%). The NASDAQ Composite (COMP) closed at 17,948.32, down by 65.66 points (-0.36%). The S&P 500 (INX) closed at 5,702.55, down by 11.09 points (-0.19%). Overall, the market experienced fluctuations influenced by economic indicators, company earnings reports, and global events.

Secure Performance

Investors leaned towards secure stocks and low-volatility options. The best-performing industries included:

  • Technology: Benefited from strong earnings reports and innovation in AI and cloud computing.

  • Healthcare: Saw gains due to advancements in medical technology and strong demand for healthcare services.

  • Utilities: Provided stability with consistent dividends and lower volatility

Day to Day Movement

  • Monday: The market opened positively, driven by optimism around upcoming economic data. The Dow Jones Industrial Average rose by 0.2%, the S&P 500 was up 0.6%, and the Nasdaq Composite increased by 0.8%.

  • Tuesday: The market continued its upward trend, with the S&P 500 and Nasdaq reaching new closing highs. The Dow Jones Industrial Average added more than 300 points.

  • Wednesday: The market dipped slightly after the Federal Reserve announced a significant interest rate cut. The S&P 500 slipped 0.3%, the Dow Jones Industrial Average dipped 0.2%, and the Nasdaq Composite lost 0.3%.

  • Thursday: The market rallied, with the Dow Jones Industrial Average closing above the 42,000 level for the first time. The S&P 500 climbed 1.7%, and the Nasdaq Composite gained 2.5%.

  • Friday: The market closed mixed but finished the week near record highs after the Federal Reserve’s interest rate cut. The Dow Jones Industrial Average edged slightly higher, while the S&P 500 and Nasdaq Composite saw minor declines.

Sources:

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Updates.

Share this newsletter with friends and on socials. We are working on getting Business Bites out twice weekly!

Thank you as always for sticking with us through thick and thin. Your support is always greatly appreciated.

Cheers to good business and great people!

-Donagan Anderson, Founder of ProCNKT and Editor of ProCNKT Weekly

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