Before Silicon Valley revolutionized business, ancient Rome had its own class of power players: the publicani. These private contractors were instrumental in financing and executing massive public projects, from building roads to collecting taxes and provisioning armies. Backed by investor capital, they scaled quickly and held immense influence — until it all unraveled.
The story of the publicani is more than an ancient footnote. It’s a vivid illustration of the perils and potential of entrepreneurship. Their rise and fall illuminate enduring lessons about scaling wisely, adapting swiftly, using capital responsibly, and leading with ethics — all critical pillars for any founder navigating today’s unpredictable business environment.
Here are four enduring lessons from Rome’s earliest business moguls that modern entrepreneurs would be wise to remember:
1. Scale Strategically — But Don’t Depend on One Revenue Stream
The publicani built vast enterprises around Roman government contracts — especially tax collection and public works. Their success was dazzling, but their downfall was swift when political reforms stripped them of those contracts. Their overreliance on a single client — the state — proved fatal.
Fast forward to today, and the same trap catches many startups off guard. Consider solar energy companies that rose with the tide of government subsidies, only to flounder when policies changed. Or ecommerce brands that depend almost exclusively on Amazon — vulnerable to algorithm tweaks, rising fees, or sudden suspensions.
Modern Lesson: Diversification isn’t just a hedge — it’s a necessity. Building a business around one policy, partner, or platform is like constructing a skyscraper on sand. Instead, founders should aim for a mix of revenue streams — spanning markets, products, and customer types — that can absorb shocks and maintain momentum even when the landscape shifts. Sarah Bertagnolli, Director of Columneer
Ask yourself: If your top client or main distribution channel disappeared tomorrow, would your business survive?
2. Adaptability Is Your Strongest Moat
The publicani were thriving under the Roman Republic. But when Augustus rose to power and transformed Rome into an empire, the rules changed. Power centralized, oversight increased, and many private contracts disappeared. The publicani, rigid in structure and slow to pivot, collapsed.
Their demise mirrors what happens when modern businesses fail to anticipate disruption. Think of Kodak’s reluctance to embrace digital photography. Or Blockbuster’s dismissal of streaming. In contrast, Microsoft and IBM constantly evolved — shedding outdated models and embracing emerging opportunities like cloud computing and AI.
Modern Lesson: In a business climate defined by fast shifts — regulatory, technological, cultural — adaptability is more valuable than dominance. Companies that bake flexibility into their DNA are positioned not just to survive upheaval, but to capitalize on it. Ken Metral, Founder of Cosmico.org
Ask yourself: If the rules in your industry changed overnight, could your company pivot quickly — or would it freeze?
3. Financial Engineering Is a Tool — Not the Foundation
The publicani were masters of capital. They raised funds from wealthy citizens, bid on massive contracts, and scaled fast. But when political conditions turned, their leverage worked against them. With no fallback revenue and mounting obligations, many imploded.
Modern parallels abound. Startups flush with venture funding often conflate capital with business health. Companies like WeWork grew rapidly — not because of sound fundamentals — but because of access to easy money. When that money dried up, the lack of a sustainable core became painfully clear.
Modern Lesson: Capital is fuel, not the vehicle. It should enhance a strong business model — not prop up a flawed one. Companies that survive downturns are those that can sustain operations through real revenue, not just investor capital. Andreas Jones, Founder of KindaFrugal.com
Ask yourself: If funding ended tomorrow, could your company run on its own cash flow? If not, it may be time to rethink your strategy.
4. Ethical Leadership Is Not Optional
At their height, the publicani wielded enormous market power. But they exploited it — especially in tax collection — sparking public backlash. Their greed made them enemies of reformers, and they ultimately lost the privileges that sustained them.
We’ve seen this modern story play out repeatedly. Facebook’s mishandling of data. Uber’s early culture of aggressive expansion at all costs. Wells Fargo’s fake accounts scandal. Market dominance can breed arrogance — and the fallout from public mistrust can be swift and severe.
On the flip side, companies like Patagonia and Costco have built enduring brands by prioritizing ethics. They don’t chase quarterly gains at the expense of long-term trust. They lead with values — and it shows in their customer loyalty and resilience.
Modern Lesson: Ethics isn’t just about doing good — it’s about building a brand that lasts. In an age of transparency, integrity is more than a PR line — it’s a growth asset. Camelia Petrus, Founder of CorePurpose
Ask yourself: Are you leading with long-term principles — or short-term profit?
The Roman Blueprint: A Cautionary Tale With Timeless Wisdom
The publicani were brilliant operators. They pioneered early forms of project finance, scaled quickly across regions, and became indispensable to one of the most powerful empires in history. But their failure to diversify, adapt, lead ethically, and build resilient foundations led to their downfall.
Their story isn’t just about ancient Rome — it’s about every startup that rises too fast, every founder who chases funding over fundamentals, and every business that ignores the warning signs of change.
True entrepreneurship isn’t measured by speed — it’s measured by staying power. Founders who scale mindfully, evolve continually, use capital wisely, and lead with integrity are the ones who last.
History’s verdict is clear: those who play the long game win.