This residential complex in Shanghai collapsed due to terrible construction defects. Earth had been poured on one side of the building and the building collapsed when construction workers dug the earth to make a parking lot.
The destruction cost one worker’s life and $ 800,000 to repair. At least this incident brought the persistent problem of building supervision in China to the public.
How safe would you feel if you walked over a swaying footbridge? In 2000, a £ 18.2 million bridge was built connecting both sides of the Thames in England. However, after three days, the bridge was closed due to instability.
Apparently the bridge was not strong enough to hold the 160,000 people who crossed it at once. Much more money was spent and the bridge finally opened two years later.
Why would anyone give up Alaska? Some of you may not know, but Alaska wasn’t always part of the United States – it was owned by Russia until 1867.
Alexander II didn’t think too much of the cold state and sold it to the US for $ 7.2 million without knowing how rich it was in oil and gold. Today Alaska’s oil and gas reserves alone are worth $ 200 billion. Wrong step, Russia!
Everyone has heard of Steve Jobs and Steve Wozniak, but does the name Ronald Wayne sound familiar? If you aren’t very familiar with Apple’s history, you probably didn’t know that there was a third founder of the successful tech company.
Wayne drew the famous Apple logo, but due to personal conflict, Wayne sold his 10 percent stake in 1976 for only $ 800. Knowing that Apple is valued at over $ 1 trillion today, Wayne may have sold his shares a little early.
24. If Only Blockbuster Had Teamed Up With Netflix
Believe it or not, Netflix and Blockbuster could have teamed up. Back in 2000, the co-founder of Netflix met with the CEO of Blockbuster to propose a partnership – Blockbuster would run the Netflix stores while Netflix would work online on the Blockbuster brand.
In hindsight, that might have been a great idea, but we all know what happened. Blockbuster laughed, left the meeting, and eventually went bankrupt while Netflix’s market value skyrocketed, currently valued at $ 15.8 billion. It’s not that fun now, blockbusters.
Here’s another example of a company getting out of a business that could have turned them into billionaires. Those of you who witnessed the dawn of the internet will likely remember the Excite search engine.
In 1999, Google (then, funnily called Backrub) entered the market and Excite considered buying it but decided not to because Google wanted Excite to only use its technology. Google is currently valued at around $ 167 billion, so Excite may have made the wrong decision here.
We’ve all accidentally spelled the wrong year in our essays, tests, or even government forms. In this case, mixing up the year cost more than a little embarrassment.
The person who forgot to proofread an application cost the state of New Jersey a large federal grant for educational reform. By writing the years 2010-2011 instead of 2008-2009, New Jersey lost $ 400 million. Damn!
This is the story of the second largest trade loss in history. 2007 was definitely not the best year to trade bonds due to the financial crisis.
Howie Hubler (a bond dealer at Morgan Stanley) bought risky loan default swaps for $ 2 billion while selling collateralized debt obligations (CDOs) for $ 16 billion. The CDOs weren’t safe, and when the market crashed, Howie Morgan Stanley cost billions of dollars.
In the most expensive crash in history, a $ 1.4 billion military jet was planning a training flight from the Pacific island of Guam in 2008 and crashed during take-off.
Fortunately, the pilots managed to get off the jet before the crash and the sensors reported airspeed, altitude and flight path errors. It was later discovered that too much moisture had penetrated the machine due to heavy rain. Crazy!
This story is probably the most famous of the list. Who hasn’t heard of the Titanic? The large passenger liner that set sail in 1912 has been labeled “unsinkable,” which is quite ironic considering what happened to it.
The Titanic hit an iceberg on its first voyage, which sank the ship and carried 1,500 people with it. In addition, the loss of the ship cost about 7.5 million dollars (which corresponds to about 150 million euros in today’s currency).
Honestly, if you look at this photo, it runs down our spines. That was the NOAA-19 weather satellite, which was launched in 2009. But in 2003, much earlier, the satellite fell to the ground at a 13-degree tilt while it was being rotated.
And as you’d expect, the repairs were extremely expensive – the project cost $ 135 million to work on!
35. Driving too close to a school bus has consequences
We shouldn’t really have to remind anyone, but you shouldn’t drive too close to a school bus. Why? Because otherwise you will end up in the same situation as the little silver car in this photo.
This small car drove way too close to the school bus and the bus obviously didn’t know that anyone was behind it because as it reversed it crushed the small car. And the shape of the silver car only made things worse.
As it looks in this photo, this expensive car may not be salvageable.
We’re not sure which genius thought it would be a good idea to leave this Mercedes this close to the water, but lo and behold, the tide came and the car half sank in the sand. Next time you better park in the parking lot when you go swimming!
If you’ve always wondered what a server looks like when it tips over and falls on the floor, here is your chance.
Since these towers are extremely heavy, we’re not really sure how that happened, but either way, it’s going to be a massive cleanup project and cost a ton of money. Maybe next time people should be more careful.
After seeing this disturbing picture, the only question left is whether the person who did this is still sane? A wad of 5,000 Canadian dollars appears to have been put in the microwave and it is no surprise that the bills came out shriveled and unusable.
The guy who did this wanted to sanitize his money, but microwaves sure aren’t the way to go. What a huge waste of money!