Twain made a substantial amount of money through his writing, but he lost a great deal through investments, mostly in new inventions and technology, particularly the Paige typesetting machine. It was a beautifully engineered mechanical marvel that amazed viewers when it worked, but it was prone to breakdowns. Twain spent $300,000 (equal to $8,200,000 in inflation-adjusted terms [37]) on it between 1880 and 1894;[38] but before it could be perfected it was made obsolete by the Linotype. He lost not only the bulk of his book profits but also a substantial portion of his wife's inheritance.[39]
Twain also lost money through his publishing house, Charles L. Webster and Company, which enjoyed initial success selling the memoirs of Ulysses S. Grant,
Twain also lost money through his publishing house, Charles L. Webster and Company, which enjoyed initial success selling the memoirs of Ulysses S. Grant,