Information Is Currency

Growing up in Steubenville, Ohio, during the 1930s and 40s, Dimetrios Synodinos knew gambling — and little else.

Horse racing, poker, college football, boxing, and even Presidential elections were all forms of income for the young Synodinos. Though gambling was illegal nationwide, Synodinis never thought that really applied to his hometown.

In the fall of 1948, Synodinos had just turned 30 and was looking for a life partner. With a sizable income stream from gambling, he felt he could be an attractive candidate for some young women in town.

He decided to grow a mustache to enhance his chances, borrowing the look of the popular actor Clark Gable. When Synodinos' sister saw his feeble attempt at growing facial hair, she laughed and said, "Women hate men with mustaches."

Synodinos wasn't convinced.

So, he hired three women, positioned them in front of the local markets, and had them ask each woman who entered the store their preference for facial hair. Overwhelmingly, the answer came back NO.

Based on this valuable information, Synodinos shaved his face, took $10,000 of his hard-earned gambling money, and bet on Harry Truman to win the 1948 Presidential election at 17-1 odds. Truman's opponent, Thomas Dewey, had a mustache, and even though he was the prohibitive favorite to win, Synodinos believed in his research.

With his $170,000 winnings, he became known as "Jimmy The Greek Synder," the top gambler in America and an international star.

Why is this relevant for us as coaches, executives and leaders?

Regardless of the era, having correct information is always the best form of currency. We might have dollars, Bitcoin, Crypto or other forms of legal tender; yet, the most valuable commodity that helps any leader inspire is sharing his/her information.

When leaders share their wisdom, when they give away their data, they create a loyal following.

Knowledge Management is a term not often discussed, but it's vital to any leader.

In 2020, a survey from Deloitte found that three-quarters of companies agreed on the importance of knowledge sharing, while only 9 percent were prepared to enact knowledge-sharing processes.

When we view knowledge as currency, we understand the importance of sharing. More importantly, when the leader works hard to renew his/her knowledge daily then shares it, he creates an unbreakable bond with his followers.

Jimmy The Greek knew knowledge was currency — and his lesson in applying it is just as relevant today.