[agsamek]

2M for 600k profit was just a very poor offer and your father chose right regardless of what happened next. (Judged by the limited information provided)

[kansface]

Considering the company went bankrupt shortly thereafter, the offer actually reflected the actual value of the company. Its hard to know that at the time.

[stavros]

Then it didn't reflect the actual value of the company. It was a low offer, and the unpredictable events are just that: unpredictable.

The winning lottery ticket still costs $1, because you don't know if it's going to win.

[mesozoic]

Exit multiples for steel mills aren't quite the same as for tech companies.