Colt has fallen pretty far. They just required that if you want to buy ANY Colts from a distributor you must be a "stocking dealer" and make a minimum purchase of specific guns or you can never buy them. You also need to keep a specific amount of inventory on site.
End result will be many smaller dealers not carrying any Colts.
So if his $50 revolver was the equivalent of $3,000 today, then his $230,000 startup capital was the equivalent of almost $14 million. He must have had some good friends.