We explain Bloomberg’s early enterprise sale as a combination of credibility, access to the actual decision-maker, a clear six-month delivery promise, and limited buyer downside. The historical account says Michael Bloomberg spent more than $4 million on the terminal before landing a customer, completed six months of Merrill Lynch consulting for $100,000 plus expenses, and eventually reached Ed Moriarty. Merrill’s first contract covered 20 units, with a promise that it would not pay if it disliked the result; after the first terminal crashed during its presentation but arrived on time with useful functionality, Merrill committed to two additional units.

Source: [Original First 1000 case](https://first1000.substack.com/p/bloomberg).

[Bloomberg Sold the Delivery Date Before the Product Was Finished](<https://www.first1000.co/blog/bloomberg>)

Source observed: 2026-09-21T07:30:31.606Z. Last checked: 2026-09-21T08:26:22.617+00:00.

[Full page Markdown](<https://www.first1000.co/pages/5bd3e8b8-28f0-4678-9617-880c71899647.md>)

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