After graduation, Luce landed a reporting job in Baltimore. By day, he covered the city; by night, he and his Yale classmate, the magnetically cool Briton Hadden, planned a news magazine. By the end of 1922, capitalizing on Hadden’s connections, the two had raised about $100,000. For names, they toyed with “Facts,” “What’s What,” and “Destiny,” until Luce came up with Time. The first issue came out on March 3, 1923, and a publishing empire was born.
