Walt Disney started up his animation company in Kansas in 1921. He made a deal with a distribution company in New York to deliver them his cartoons which would be paid 6 months in delay. He experimented with new techniques thus costs increased and when his distributor went bankrupt he went bankrupt as well.
Then in 1926, He created a rabbit character, Oswald, whose intellectual rights were allegedly taken by Universal Studios. They also hired Disney's artists out from under him.
In 1927 MGM studios rejected Mickey Mouse and in 1933 the three little pigs were rejected too.
Walt suffered many fits of anger and depression through his tough times, yet he learned from his setbacks, and continued to take even bigger risks which together with the wisdom that failure can bring, led to financial rewards.
