Most of my adult life, I have not been listening fully. I only listened long enough to determine whether the speaker’s ideas matched my own. If they didn’t, I would stop listening, and my mind would race ahead to compose an argument against what I believed the speaker’s idea or position to be.

—John Francis

Video

You are missing some Flash content that should appear here! Perhaps your browser cannot display it, or maybe it did not initialize correctly.

In 1867, Czar Alexander II of Russia sold off 586,412 square miles of his country to the United States for the fire-sale price of 1.9 cents per acre, or a total of $7.2 million – about $109 million in today’s money. Convinced that he had disposed of a glorified ice cube, the czar thought he had gotten the better end of the bargain, and many in the U.S. agreed. The journalist Horace Greeley disparaged the deal as an “inconvenient” purchase that offered the buyer “nothing of value but furbearing animals.” Today that inconvenient purchase, better known as Alaska, is worth an estimated $100 billion in oil and gold. In 2008, Forbes magazine described Alexander’s decision to sell Alaska as one of the ten worst business mistakes of the last 400 years.