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462 afleveringen, van nieuw naar oud
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#112 Frank Lloyd Wright
24 februari 2020 · 1 uur 21 min
What I learned from reading Plagued by Fire: The Dreams and Furies of Frank Lloyd Wright by Paul Hendrickson.
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[0:01] Frank Lloyd Wright suffered a personal catastrophe that would have destroyed a man of lesser will and lesser ego.
[7:20] Ben Franklin writing about vanity 250 years ago: Most people dislike vanity in others, whatever share they have of it themselves; but I give it fair quarter wherever I meet with it, being persuaded that it is often productive of good to the possessor.
[12:38] He held a press conference on Christmas Day to explain his actions. He said ordinary people can not live without rules to guide his conduct. He - Frank Lloyd Wright - is not ordinary.
[13:44] Frank Lloyd Wright had a single minded pursuit of his own potential.
[18:50] Nothing is at last sacred but the integrity of your own mind.
[19:30] Find something you love to do and don’t stop until you die.
[23:00] Everything is malleable. Including the truth.
[25:25] All Frank Lloyd Wright had was a complete faith in himself.
[31:57] Frank Lloyd Wright had a point of view—a conviction— and he tied his point of view to larger ideas.
[35:29] Frank Lloyd Wright was terrible with money: So long as we had the luxuries, the necessities could pretty well take care of themselves.
[36:20] The early career of Frank Lloyd Wright / his mentor was one of the greatest architects ever
[39:30] You are going to go far. You’ll have a kind of success; I believe the kind you want. Not everybody would pay the price in concentrated hard work and human sacrifice you’ll make for it.
[50:05] Wright turned down a fantastic opportunity. He preferred to bet on himself.
[53:28] Wright’s mid life crisis and the abandonment of his family.
[56:00] We’d like to be painters, we’d like to be poets. We’d like to be writers, but as everybody knows—we can’t earn any money that way. What do you want to do? When we finally got down to something which the individual says he really wants to do, I will say to him you do that… Lees meer -
#111 David Geffen
16 februari 2020 · 1 uur 23 min
What I learned from reading The Operator: David Geffen Builds, Buys, and Sells the New Hollywood by Tom King.
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He told me he had recently read Buffett: The Making of an American Capitalist, Buffett was Geffen's hero.Geffen—with searing focus, unyielding drive, and outlandish nerve—had devised and implemented strategies to propel himself to the top of the heap of Hollywood powerbrokers.I used to have phone conversations with David that would leave me sweaty.David might not have realized it, but he was being educated by a master entrepreneur. Batya succeeded in teaching him the value of hard work and the possibilities of life under even the most difficult circumstances. She was a brilliant businesswoman who could account for every penny that went into and out of the enterprise. She kept her overhead low by driving hard bargains with her suppliers and by closely monitoring her expenses.His mother determinedly drilled into him the same advice she often repeated to herself. "You may not be very tall, but you will stand head and shoulders above everyone," she declared. "You think of yourself as head and shoulders above everyone else, and you will be."Arriving in Hollywood for the first time, David thought he had found paradise. It was even more intoxicating than he had imagined. His life's ambition was soon established after he read a new biography of MGM studio boss Louis B. Mayer called Hollywood Rajah. "I want this job," he thought to himself.He simply did not have the attention span that college required. He was eager to get into the real world.She told Geffen that some of the brightest lights in the entertainment business had gotten their start in the mailrooms of the major talent agencies. Although it was not a glamorous job, it was a way to get a foot in the door.
Having tossed aside all notions of right and wrong, David Geffen simply lived by different rules than did the rest of society around him. Unconstrained by traditional ideas of acceptable social behav… Lees meer -
#110 Henry Singleton (Teledyne)
10 februari 2020 · 1 uur 26 min
What I learned from reading Distant Force: A Memoir of the Teledyne Corporation and the Man Who Created It by Dr. George Roberts.
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Henry was much more than a salesman, mathematician, engineer, inventor, and chess champion. He was a student. An observer of the history of manufacturing, of the progress and growth of corporations from the days of Henry Ford, the growth of General Motors, the manner of successful corporations in growing by acquisition. [0:01]
Henry reminds me of de Gaulle. He has a singleness of purpose, a tenacity that is just overpowering. He gives you absolute confidence in his ability to accomplish whatever he says he is going to do. [2:00]
Henry spent time doing exactly what we are doing — learned from entrepreneurs and great people of the past. [3:45]
According to Buffett, if one took the top 100 business school graduates and made a composite of their triumphs, their record would not be as good as that of Singleton, who incidentally was trained as a scientist, not an MBA. / Here is a direct quote from Buffett: The failure of business schools to study men like Singleton is a crime. / "Henry Singleton of Teledyne has the best operating and capital deployment record in American business.” —Warren Buffett [8:30]
Genius is an oft-misused word, but it cannot be denied that Henry Singleton brought exceptional brilliance to the creation and development of the enterprise he undertook. . .Many of these strategies, new at the time, have now become commonplace in the business world. [12:57]
My only plan is to keep coming to work each day. I like to steer the boat each day rather than plan ahead way into the future. —Henry Singleton [14:36]
Within eight years of founding Teledyne had bootstrapped their startup investment of $450,000 into a company with annual sales of over $450 million. [17:24]
Henry’s early faith that semiconductors would become the dominant factor in future electronics, even while this was still being debated by others in the industry. … Lees meer -
#109 Adi Dassler (Adidas)
3 februari 2020 · 1 uur 13 min
What I learned from reading Sneaker Wars: The Enemy Brothers Who Founded Adidas and Puma and The Family Feud That Forever Changed The Business of Sports by Barbara Smit.
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This story begins at a time in history when money and sports were still two separate worlds [0:01]
A family business struggling to survive / drafted into WWI / Adi Dassler’s EXTREME resourcefulness and personality / [3:15]
Early distribution and marketing of sports shoes [10:06]
The Dassler Brothers were opposites: Adi was the quiet craftsman with soul in the game. Rudolf was ostentatious and loud. [12:46]
The chronicle and biography of Adi Dassler: A story about someone obsessed with making high quality products [14:00]
Was Adi Dassler a Nazi? / My experience with the totalitarianism of the Castro regime / tearing up thinking of having to risk the lives of your children [24:30]
Adi Dassler reminds me of Henry Royce [29:30]
The difficulties of building a business during World War II [32:15]
Adi starting over at the age of 46 / How the Adidas stripes came about [38:15]
Athletes start requesting bribes to wear Adidas / How the payoffs happened [46:00]
Breaking into a new market was a slow, labor intensive process [50:45]
While Adidas and Puma are distracted fighting each other, opportunity opens up for Phil Knight and Nike / pursue your crazy idea / famous last words: “it’s just a toy”, “jogging isn’t a real sport”, “Nike is not a threat because we have more demand than we could service” [55:05]
If you have a business that makes you miserable, somewhere along the line you lost the plot. [1:06:45] Lees meer----
Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the boo… -
#108 Jim Simons (Money Printer)
26 januari 2020 · 1 uur 7 min
What I learned from reading The Man Who Solved The Market: How Jim Simons Launched The Quant Revolution by Gregory Zuckerman
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The story of the greatest moneymaker of all time [0:01]
Simons prefers to move in silence [1:40]
Unknown Unknowns > Known Knowns / Wise people always know exactly why something won’t work. That is why I never employ an expert in full bloom. —Henry Ford [2:42]
A one word summary of the book: PERSISTENCE [4:15]
Simons’ early life / Only the arrogant are self-confident enough to push their creative ideas on others. —Nolan Bushnell [4:44]
Advice from his father: Do what you like in life, not what you feel you should do. [6:16]
Personality: Jim had a persistent and burning desire to be wealthy [7:20]
A seed has been planted + Jim’s existential crisis [9:55]
Lessons from codebreaking that Jim applies to his business later [14:08]
Jim Simons at 29 years of age: Fired, father of 3 young children, no idea what his future holds [20:00]
Jim Simons at 33 years of age: Genius and madness are next-door neighbors [21:44]
Jim Simons at 40 years of age: Jim finally makes the jump. Only misfits understand misfits [22:55]
Jim’s first trading style [28:00]
We all go through times like this: DON’T QUIT! [29:15]
Jim Simons at 44 years of age / Jim’s partner doesn’t see the point in developing automated trading system / Giant success followed by giants failures [34:30]
Back to being filled with self-doubt [37:15]
Our mind loves playing tricks on us [38:00]
Jim Simons studied the past to gain an information advantage [41:00]
Finally, the new strategy starts working! / Even with wild success people will tell you that you are wrong [46:55]
Business is like nature, it doesn’t care if you arrive at the right answer from the wrong reasoning. [52:50]
Emperors want empires [57:02]
Life advice from an 82 year old Jim Simons [1:02:40] Lees meer----
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#107 Sol Price (Costco)
20 januari 2020 · 1 uur 9 min
What I learned from reading Sol Price: Retail Revolutionary & Social Innovator by Robert E. Price.
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What was it about this man that engendered so much admiration and respect? [0:01]
Sol Price’s early life [4:39]
Sol Price was a misfit / “If you want to understand the entrepreneur, study the juvenile delinquent. The delinquent is saying with his actions, "This sucks. I'm going to do my own thing.” [5:40]
Learning to love being productive / Sol Price on the importance of time / DO IT NOW! [12:20]
The beginning of FedMart [16:00]
Sol Price learned from other founders [21:25]
Sol Price’s business philosophy [28:50]
What happened when Sol opens a pharmacy in FedMart / A creative solution to being cut off by gasoline suppliers [36:25]
Sol Price’s idea on teaching and “alter egos” / “You train an animal. You teach a person.” —Sol Price [39:13]
The intelligent loss of sales [42:00]
The idea for Price Club [52:37]
What Sol Price meant to his son [1:05:28] Lees meer----
Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
Be like Gareth. Buy a book: All the books featured on Founders Podcast -
#106 Bill Walsh (The Score Takes Care of Itself)
12 januari 2020 · 1 uur 6 min
What I learned from reading The Score Takes Care of Itself: My Philosophy of Leadership by Bill Walsh.
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[0:01] I believe it’s much the same in one’s profession: Superb, reliable results take time.
[4:55] How Jack Dorsey describes The Score Takes Care of Itself: He took at team that was at the bottom and brought them to the top. He focused on the details. He didn’t say you need to win games. He said you need to tuck in your shirts. You need to clean your lockers. This is how we answer the phones here. He set a new standard of performance.
[6:53] Bill Walsh on his father / What he learned from his early life
[10:15] Bill Walsh on why should you care about your standard of performance: Pursuing your ambitions, especially those of any magnitude, can be grueling and hazardous, and produce agonizing failure along the way, but achieving those goals is among life’s most gratifying and thrilling experiences.
[14:15] A great description of the book: Bill Walsh loved to teach. This is his final lecture on leadership.
[16:20] Bill Walsh built a new culture. He calls it his Standard of Performance.
[20:30] Make a commitment to be the best version of yourself— even when your current external results may not warrant that belief
[26:16] The prime directive was not victory
[28:45] Winners act like winners before their winners
[32:20] Bill Walsh experiences the entrepreneurial roller coaster
[37:00] An incredible story about his idea of the west coast offense
[46:20] Be unswerving in moving towards your goal
[47:25] Sweat the little details but the right little details
[49:00] Don’t focus on your competitors —spend that time making yourself better so it is harder for them to compete against you
[50:00] Don’t let anybody call you a genius / If you sleep on a win you’ll wake up with a loss / Success Disease
[54:15] Without a healthy ego you’ve got a big problem
[58:05] There is no mystery to mastery
[1:03:05] A pretty package will not sell a crappy product
[1:04:16] Avoid burnout: … Lees meer -
#105 Les Schwab (Charlie Munger recommended this book)
5 januari 2020 · 1 uur 19 min
What I learned from reading Les Schwab Pride In Performance: Keep It Going! by Les Schwab.
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16 ideas from the book:
Intensity is the price of excellence —Warren Buffett
I am 68 years old now. And I've run it in overdrive my whole life. I've always wanted to be the best tire dealer, not necessarily the largest tire dealer.
The people serving your customers are the most important people in your company:
We have had over the years some people in the office that sometimes think they are more important than the stores. The office serves only one purpose, and that is to serve the stores. Some of our office people sometimes wonder about this. But I’ve warned them, don’t bitch to me because that is the way I want it. If you want to go out and start at the bottom changing tires and work into a manager job, then hop right to it. If it weren’t for those men in the stores working their butts off in all kinds of weather, missing meals, God awful hours, etc. you wouldn’t even have a job.
If you’re not serving the customer, or supporting the folks who do, we don’t need you. —Sam Walton
Let the people at the store level and your manager know you are behind them. They are the ones who make you successful, not the person in a nice office who has nothing to do today but to send out another damn directive. If it doesn't help the store, tear it up and tell the store to tell the office to go to hell.
There are no shortcuts around quality, and quality starts with people. —Steve Jobs
People are the success of our company. Most anyone can sell tires. The only difference between a Les Schwab Tire Centre and most any tire dealership is the people working there.
Sharing profits with your employees is a way to build people. Be unselfish for good reasons.
We share 50% of our profits with all the employees in the store. My thinking has always been if I give away half the profits I still have half. If I share $10 million with people I still have $10 million left over. I don’t understand why b… Lees meer -
#104 Ingvar Kamprad (IKEA)
30 december 2019 · 1 uur 22 min
What I learned from reading Leading By Design: The Ikea Story by Ingvar Kamprad and Bertil Torekull.
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[0:01] He aims to give his company eternal life
[3:45] Early life and entrepreneurship
[8:00] The beginning of IKEA
[11:40] Learning entrepreneurship by imitating
[16:30] IKEA almost dies in infancy / how Ingvar worked his way through it
[26:00] Ingvar’s greatest regret in life: Neglecting his children for his business. “Everyone with children knows that childhood does not allow itself to be reconquered.”
[32:20] Only those asleep make no mistakes. — Ingvar Kamprad
[36:00] Thinking of the first store as a laboratory
[43:43] Why IKEA stumbled upon self assembled furniture
[46:30] A summary of the early history of IKEA
[49:00] How Ingvar managed
[54:00] Why Ingvar refused to go public
[1:03:30] The IKEA Company Bible: The Testament of a Furniture Dealer
[1:19:10] Ingvar the Misfit Lees meer----
Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
Be like Gareth. Buy a book: All the books featured on Founders Podcast -
#103 Hetty Green (The Richest Woman in America)
22 december 2019 · 1 uur 2 min
What I learned from reading The Richest Woman in America: Hetty Green in the Gilded Age by Janet Wallach.
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[0:10] She was the smartest woman on Wall Street, a financial genius, a railroad magnate, a real estate mogul, a Gilded Era renegade, a reliable source for city funds.
[0:19] “I have had fights with some of the greatest financial men in the country. Did you ever hear of any of them getting ahead of Hetty Green?”
[1:10] I go my own way, take no partners, risk nobody else’s fortune.
[1:29] She was considered the single biggest individual financier in the world.
[1:58] A Mind at Play: How Claude Shannon Invented the Information Age by Jimmy Soni and Rob Goodman (Founders #95)
[2:55] Watch your pennies and the dollars will take care of themselves.
[3:31] Don’t close a bargain until you have reflected on it overnight.
[4:00] I am always buying when everyone wants to sell, and selling when everyone wants to buy.
[4:51] I never set out for anything that I don’t conquer.
[5:55] To live content with small means; To seek elegance rather than luxury, And refinement rather than fashion; To be worthy, not respectable, and wealthy, not rich.
[7:27] Her father’s advice: Never owe anyone anything.
[9:44] By the time she is 13 she is the family bookkeeper.
[11:53] She paid attention when he (her father) repeated again and again that property was a trust to be taken care of and enlarged for future generations. She obeyed when he insisted that she keep her own accounts in order and later praised the experience. “There is nothing better than this sort of training,” she said.
[13:28] Hetty hungered for money itself.
[14:08] List of financial panics discussed in the book: Panic of 1857, Panic of 1866, The Long Depression 1873-1896 which had several panics within, (Panic of 1873, 1884, 1890, 1893) Panic 1901 and Panic of 1907.
[16:18] She was a master at studying what happened before her.
[16:31] The First Tycoon: The Epic Life of Cornelius Vanderbilt by TJ Stiles. (Founders #54… Lees meer -
#102 Akio Morita (Sony)
15 december 2019 · 1 uur 16 min
What I learned from reading Made in Japan: Akio Morita and Sony by Akio Morita.
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[0:01] Forty years ago, a small group gathered in a burned-out department store building in war-devastated downtown Tokyo. Their purpose was to found a new company, their optimistic goal was to develop the technologies that would help rebuild Japan's economy.
[5:00] I was born the first son and fifteenth-generation heir to one of Japan's finest and oldest sake-brewing families. The Morita family has been making sale for three hundred years. Unfortunately, the taste of a couple of generations of Morita family heads was so refined and their collecting skills so acute that the business suffered while they pursued their artistic interests, letting the business take care of itself, or, rather, putting it in other hands. They relied on hired managers to run the Morita company, but to these managers the business was no more than a livelihood, and if the business did not do well, that was to be regretted, but it was not crucial to their personal survival. In the end, all the managers stood to lose was a job. They did not carry the responsibility of the generations, of maintaining the continuity and prosperity of the enterprise and the financial well-being of the Morita family.
[8:18] Tenacity, perseverance, and optimism are traits that have been handed down to me through the family genes.
[9:25] I was taught that scolding subordinates and looking for people to blame for problems—seeking scapegoats—is useless. These concepts have stayed with me and helped me develop the philosophy of management that served me very well.
[10:28] I had to teach myself because the subjects I was really interested in were not taught in my school in those days.
[14:09] The emperor, who until now had never before spoken directly to his people, told us the immediate future would be grim. He said that we could “pave the way for a grand peace for all generations to come," but we had to do it "by enduring the unendura… Lees meer -
#101 Warren Buffett (The Tao of Warren Buffett)
8 december 2019 · 42 min
What I learned from reading The Tao of Warren Buffett by David Clark and Mary Buffett.
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[0:01]The more I heard Warren speak, the more I learned. Not only about investing, but about business and life.
[4:02] The great personal fortunes in this country weren’t built on a portfolio of fifty companies. They were built by someone who identified one wonderful business.
[5:45] It is impossible to unsign a contract, so do all your thinking before you sign.
[8:35] I don’t try to jump over seven-foot bars; I look around for one-foot bars that I can step over.
[14:27] The chains of habit are too light to be felt until they are too heavy to be broken.
[19:00] My idea of a group decision is to look in the mirror.
[22:14] When management with a reputation for brilliance tackles a business with a reputation for poor fundamental economics, it is the reputation of the business that remains intact.
[23:07] Managing your career is like investing—the degree of difficulty does not count. So you can save yourself money and pain by getting on the right train.
[24:55] There is a huge difference between the business that grows and requires lots of capital to do so and the business that grows and doesn’t require capital.
[27:00] I look for businesses in which I think I can predict what they’re going to look like in ten or fifteen year; time. Take Wrigley’s chewing gum. I don’t think the Internet is going to change how people chew gum
[28:50] You want to learn from experience, but you want to learn from other’s people’s experience when you can.
[29:20] The really good business manager doesn’t wake up in the morning and say, ‘This is the day that I am going to cut costs,’ any more than he wakes up and decides to practice breathing.
[30:07] A public-opinion poll is no substitute for thought / A story from a young Steve Jobs
[31:55] The business schools reward difficult, complex behavior more than simple behavior, but simple behavior is more effective.
[32:42] If you let yourself be undiscip… Lees meer -
#100 Warren Buffett (The Snowball)
1 december 2019 · 1 uur 26 min
What I learned from reading The Snowball: Warren Buffett and the Business of Life by Alice Schroeder.
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[0:01] What he was teaching were the lessons that had emerged from the unfolding of his own life
[4:35] The dichotomy of Warren Buffett
[9:20] Warren Buffett wants to be remembered as a teacher
[11:52] Buffett’s idea of Inner scorecard vs Outer scorecard
[13:49] Warren Buffett’s early family life
[18:03] Learning to avoid the habit of thinking in only one direction (18:03),
[24:30] Warren’s WHY
[29:58] A young troublemaker and how Warren’s dad convinced him to change his behavior
[32:20] Warren did what you are doing right now: Since a young age Warren had studied the lives of men like Jay Cooke, Daniel Drew, Jim Fisk, Cornelius Vanderbilt, Jay Gould, John D. Rockefeller, and Andrew Carnegie.
[33:48] Turning a rejection into one of the best things to ever happen to him
[38:30] Mimicry instead of independent thought: Warren didn’t understand why they couldn’t see what was right before their eyes.
[42:20] One of the most inspiring things about reading biographies is you are constantly reminded that we all have the ability to improve. A young Warren Buffett was so afraid of public speaking he would vomit.
[48:06] Warren learning from and working with his idol: Ben Graham
[52:20] Warren’s advice for everyone: Sell yourself an hour a day
[57:28] Intensity is the price of excellence and examples of people Warren wanted to do business with
[1:01:08] Warren Buffett is an obsessive/Munger would later call Buffett an implacable acquirer, like John D. Rockefeller in the early days of assembling his empire, who let nobody and nothing get in his way. (1:01:08),
[1:13:10] Warren Buffett on his biggest mistake
[1:16:11] What Buffett valued in the lives of others/His idea about claim checks
[1:19:25] His “Twenty Punches” approach to investing
[1:22:38] Warren’s answer to the question, “What has been your greatest success and greatest failure?” Lees meer----
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#99 Carroll Shelby (My name is Carroll Shelby and performance is my business)
24 november 2019 · 1 uur 18 min
What I learned from reading Carroll Shelby: The Authorized Biography by Rinsey Mills.
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[3:27] I love everything about this person. I like the way he thought. I like the way he lived his life.
[3:38] It is almost unbelievable all the different events that could happen in one human lifetime.
[3:52] He lived to 89 years old and he used every single year that he was alive.
[5:22] He could talk his way out of anything.
[6:40] He knew what he wanted. He didn't want anybody else telling him what to do.
[7:41] He had a love for anything that would go fast.
[10:48] He didn’t know what to do with his life.
[15:54] Follow your natural drift. —Charlie Munger
[17:00] I can't work for anybody.
[18:42] He has fun his entire life. As soon as they stop being fun he runs away.
[22:20] A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market by Ed Thorp. (Founders #93 and #222)
[24:17] Money only solves money problems.
[26:32] Scratching around doing insignificant races with inferior machinery wasn't an option in which he could see any future.
[27:26] Whatever setbacks he encountered he was invariably able to bounce back through a combination of self-belief and an aptitude for making other people believe in him.
[27:45] Enthusiasm and passion are universal attractive traits.
[28:05] Go Like Hell: Ford, Ferrari, and Their Battle for Speed and Glory at Le Mans by A.J. Baime. (Founders #97) and Enzo Ferrari: Power, Politics, and the Making of an Automobile Empire by Luca Dal Monte. (Founders #98)
[30:29] The Purple Cow by Seth Godin
[32:22] Distant Force: A Memoir of the Teledyne Corporation and the Man Who Created It by Dr. George Roberts. (Founders #110)
[32:38] Having extreme focus in the information age is a superpower.
[36:13] Racing was a means to an end. He wanted to build his own car. That was his main goal.
[42:34] He still didn't know quite how he was going to do it but if he was finally going to produce his own sports car.
[53:48] All big … Lees meer -
#98 Enzo Ferrari (the making of an automobile empire)
18 november 2019 · 1 uur 3 min
What I learned from reading Enzo Ferrari: Power, Politics, and the Making of an Automobile Empire by Luca Dal Monte.
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[0:01] Ferrari was animated by an extraordinary passion that led him to build a product with no equal
[3:52] Lee Iacocca on why Enzo Ferrari will go as the greatest car manufacturer in history: "Ferrari spent every dollar chasing perfection."
[8:50] Business lessons from his father
[11:47] Enzo Ferrari was not interested in school. He wanted to start working immediately.
[16:36] The deaths of his father and brother
[18:20] No job. No money. No connections. A young man desperate to succeed in life.
[23:06] He learned something that he would never forget for the rest of his life: Not even the best driver had any chance of victory if he was not at the wheel of the best car.
[24:20] Starting his first business which ends in bankruptcy.
[28:31] Enzo learned from those who already accomplished what he was trying to do.
[31:10] He does the best possible job at whatever task he is given. Even if he doesn't want to do it. Enzo focuses on being useful.
[33:35] A young Enzo Ferrari is plagued with doubts and close to a nervous breakdown.
[38:28] The large leave gaps for the small: The start of Scuderia Ferrari.
[49:38] Enzo Ferrari at 33 years old.
[51:30] For Enzo Ferrari it was always day 1.
[52:33] Alfa Romeo pulls the plug/the end of Scuderia Ferrari, the birth of Ferrari. Lees meer----
Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
Be like Gareth. Buy a book: All the books featured on Founders Podcast -
#97 Enzo Ferrari (Ferrari vs Ford)
10 november 2019 · 55 min
What I learned from reading Go Like Hell: Ford, Ferrari, and Their Battle for Speed and Glory at Le Mans by A. J. Baime.
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[0:01] Racing was the most magnificent marketing tool the industry had ever known.
[2:42] Founders vs Managers
[3:43] Founders Podcasts on Henry Ford: #9, #26, and #80.
[4:29] The passion Enzo Ferrari had for his products
[5:50] The same broad features keep recurring over and over again/ In their detailed appearance these broad features are never twice the same.
[8:09] Steve Jobs on passion.
[12:00] Steve Jobs on building the Macintosh/ Artisans have soul in the game.
[13:05] Enzo Ferrari’s schedule at 58 years old / His early life
[17:08] Ferrari’s 3 principles for winning
[20:20] How Enzo Ferrari started his company / Racing as marketing / Ferrari’s personality and his philosophy on building a business
[24:49] Enzo Ferrari’s extreme level of dedication
[25:48] How Enzo Ferrari described his product
[26:54] How and why the Ford/Ferrari negotiations begin
[35:37] How Enzo Ferrari described the process of building a product
[38:07] The advantage founder led companies have / I made a mistake here. I said Les Miles when I meant Ken Miles. Les Miles is a football coach. Ken Miles is a race car driver.
[40:58] Creative Selection: Inside Apple's Design Process During the Golden Age of Steve Jobs by Ken Kocienda
[42:06] Enzo Ferrari on why he doesn’t have a social life.
[42:57] You don’t understand. When I go in there, if I don’t really and truly believe I am the best in the world, I had better not go in at all.
[49:05] Enzo Ferrari played chess while everyone else was playing checkers.
[52:20] It would be a waste of life to do nothing with one’s ability. Lees meer----
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#96 James J. Hill (Empire Builder of the Northwest)
4 november 2019 · 59 min
What I learned from reading James J. Hill: Empire Builder of the Northwest by Michael P. Malone.
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James J. Hill demonstrates the impact one willful individual can have on the course of history [1:00]
If you want to know whether you are destined to be a success or a failure in life, you can easily find out. The test is simple and it is infallible: Are you able to save money? If not, drop out. You will lose. You may think not, but you will lose as sure as you live. The seed of success is not in you. –James J. Hill [3:30]
Early life and education [7:58]
What James Hill learned from history: The power of one dynamic individual [9:09]
Hill strikes out for adventure [10:48]
Hill makes it a priority to seek out mentors to learn from [14:44]
Starting his first business [18:22]
Hill’s strategies on building businesses & insights into his business philosophy [21:50]
Hill’s edge: An obsession with knowing every detail of his business [29:22]
Burn the boats/ going all in/ when you have an edge, bet heavily [34:31]
Stay close to where the money is being spent [36:51]
Hill had an edge because he took the time to educate himself more than others would [38:49]
The power of maintaining your focus [40:00]
The best defense against invading railroads was a better built system that could operate at lower rates [45:05]
Great idea to think of your business as a living organism [55:40]
A well run business is built slowly [56:32] Lees meer----
Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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#95 Claude Shannon
27 oktober 2019 · 1 uur 5 min
What I learned from reading A Mind at Play: How Claude Shannon Invented the Information Age by Jimmy Soni and Rob Goodman
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[0:25] Claude Shannon trained a powerful intellect on topics of deep interest, and continued to do so beyond the point of short term practicality
[5:50] Insulated from opinion of all kinds
[9:09] A simple way to describe the impact of information theory
[10:39] Resourceful at a young age
[11:50] An ordinary childhood
[12:41] Follow your natural drift
[14:40] Too many facts; too few principles
[16:10] His indecisive nature inadvertently helps him
[17:00] An important turning point in Shannon’s life
[18:30] Vannevar Bush: The first person to see Claude Shannon for who he was
[21:00] The results of Claude Shannon’s thesis
[23:20] How Claude Shannon worked in his 20s
[25:30] The main takeaway from the book: The world isn’t there to be used, but to be played with, manipulated by hand and mind
[30:00] Succeeding with no prior knowledge in the specific field
[31:20] Working on what naturally interests you is time well spent
[32:45] Working at Bell Labs / The Idea Factory: Bell Labs and the Great Age of American Innovation
[36:49] Fire Control / What he worked on during the war
[38:15] Claude Shannon’s work on cryptography
[40:05] Take many different ideas from unrelated fields
[43:35] Leaving Bell Labs for MIT
[48:52] Claude Shannon on investing
[1:01:15] Shannon’s design for his own funeral Lees meer----
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----
“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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#94 Henry Singleton (The Outsiders)
21 oktober 2019 · 1 uur 21 min
What I learned from reading The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success by William Thorndike.
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[0:30] The failure of business schools to study men like Henry Singleton is a crime— Warren Buffett
[2:40]Buffett and Singleton: Separated at birth?
[8:35]The Singular Henry Singleton
[14:40] Supremely indifferent to criticism
[19:50] Teledyne breaks up huge business into a bunch of small profit centers
[29:30] Risk is controlled. Divisions will remain relatively small.[32:00} Building a cash generating machine [36:30] Bet heavily when you have an edge.
[44:00] Singleton has found a way to run a multibillion dollar company in an entrepreneurial, innovative way.
[50:16] Singleton had a different focus: Capital allocation.
[50:37] Getting Rich vs Staying Rich
[55:18] What the people profiled in this book have in common
[59:00] Early career and the founding of Teledyne
[1:00:38] How Henry Singleton thought about acquisitions
1:02:00] Actions express priority
[1:07:12] Ruthlessly cut fat
[1:11:20] Stay within your cirlce of competence and bet heavy[1:16:30] Singleton on Time Management
[1:19:19] If everyone is doing them, there must be something wrong with them. — Henry Singleton Lees meer----
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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#93 Ed Thorp (A Man for All Markets)
13 oktober 2019 · 1 uur 8 min
What I learned from reading A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market by Edward Thorp.
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[0:01] Ed Thorp’s memoir reads like a thriller—mixing wearable computers that would have made James Bond proud, shady characters, great scientists, and poisoning attempts. The book reveals a thorough, rigorous, methodical person in search of life, knowledge, financial security, and, not least of all, fun. Thorp is also known to be a generous man, intellectually speaking, eager to share his discoveries with random strangers.
[1:23] Ed Thorp is the first modern mathematician who successfully used quantitative methods for risk taking—and most certainly the first mathematician who met financial success doing it.
[3:19] Ed was initially an academic, but he favored learning by doing, with his skin in the game. When you reincarnate as practitioner, you want the mountain to give birth to the simplest possible strategy, and one that has the smallest number of side effects, the minimum possible hidden complications.
[4:33] As Warren Buffet said: “In order to succeed you must first survive.” You need to avoid ruin. At all costs.
[6:48] It is vastly less stressful to be independent—and one is never independent when involved in a large structure with powerful clients. It is hard enough to deal with the intricacies of probabilities, you need to avoid the vagaries of exposure to human moods. True success is exiting some rat race to modulate one’s activities for peace of mind.
[7:51] Read the forward by Nassim Taleb
[9:14] Ed’s 4 rules for learning
First, rather than subscribing to widely accepted views—such as you can’t beat the casinos—I checked for myself.
Second, since I tested theories by inventing new experiments, I formed the habit of taking the result of pure thought—such as a formula for valuing warrants—and using it profitably.
Third, when I set a worthwhile goal for myself, I made a realistic plan and persisted until I succeeded.
F… Lees meer -
#92 Ed Thorp and Claude Shannon
7 oktober 2019 · 1 uur 22 min
What I learned from reading Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street by William Poundstone.
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Claude Shannon was as close to a sure thing as existed [2:53]
The beginning of information theory [7:11]
Project X [9:09]
introduction to Ed Thorpe [15:05]
using math and physics to beat Las Vegas [18:03]
Ed Thorp and Claude Shannon meet [20:45]
testing Thorpe’s Blackjack theory [26:00]
The core of John Kelly’s philosophy of risk can be stated without math. It is that even unlikely events must come to pass eventually. Therefore, anyone who accepts small risks of losing everything will lose everything, sooner or later. The ultimate compound return rate is acutely sensitive to fat tails. [28:23]
I’d be a bum in the street with a tin cup if the markets were efficient. —Warren Buffett [44:30]
how Claude Shannon begins studying the stock market [46:45]
Claude Shannon and Henry Singleton [48:16]
why and how Ed Thorp started investing in stocks [49:49]
Thorp starts a hedge fund and starts working remotely [52:49]
Ed Thorp meets Warren Buffett [54:20]
An acid test of Princeton/Newport’s market neutrality came in the Black Monday crash of October 19, 1987. The Dow Jones index lost 23 percent of its value in a single day. Princeton/Newport’s $ 600 million portfolio shed only about $ 2 million in the crash. Princeton Newport’s return for the year was an astonishing 34 percent. [59:36]
the implosion of Long Term Capital Management [1:07:00]
The thing you should do is the opposite of what you feel you should do. –Jim Clayton [1:09:10]
A quote from 1738: A man who risks his entire fortune acts like a simpleton, however great may be the possible gain. — Daniel Bernoulli [1:13:00]
Claude Shannon: A smart investor should understand where he has an edge and invest only in those opportunities. The methods Claude Shannon used to invest [1:17:10] Lees meer----
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#91 Jim Clayton (Sold to Warren Buffett)
29 september 2019 · 1 uur 1 min
What I learned from reading First A Dream by Jim Clayton. Lees meer
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Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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#90 Charlie Munger (Poor Charlie's Almanack)
22 september 2019 · 1 uur 37 min
What I learned from reading Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger.
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Cicero, learned man that he was, believed in self-improvement so long as breath lasts.In business we often find that the winning system goes almost ridiculously far in maximizing and/or minimizing one or a few variables-like the discount warehouses of Costco."Invert, always invert." It is in the nature of things, as Jacobi knew, that many hard problems are best solved only when they are addressed backward.It's quite interesting to think about Wal-Mart starting from a single store in Arkansas-against Sears with its name, reputation and all of its billions. How does a guy in Bentonville, Arkansas, with no money, blow right by Sears? And he does it in his own lifetime-in fact, during his own late lifetime because he was already pretty old by the time he started out with one little store. He played the chain store game harder and better than else. Walton anyone invented practically nothing. But he copied everything anybody else ever did that was smart. So he blew right by them all.Charlie's redundancy in expressions and examples is purposeful: for the kind of deep "fluency" he advocates, he knows that repetition is the heart of instruction.He enjoyed challenging the conventional wisdom of teachers and fellow students with his ever-increasing knowledge gained through voracious reading, particularly biographies.He never forgot the sound principles taught by his grandfather: to concentrate on the task immediately in front of him and to control spending.I would say everything about Charlie is unusual. I've been looking for the usual now for forty years, and I have yet to find it. Charlie marches to his own music, and it's music like virtually no one else is listening to. So, I would say that to try and typecast Charlie in terms of any other human that I can think of, no one would fit. He's got his own mold.Charlie Munger has spent a professional lifetime studying lives that h… Lees meer -
#89 David Ogilvy (Confessions of an Advertising Man)
15 september 2019 · 1 uur 21 min
What I learned by reading Confessions of an Advertising Man by David Ogilvy. Lees meer
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Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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#88 Warren Buffett's Shareholder Letters— All of them!
9 september 2019 · 3 uur 1 min
What I learned from reading Berkshire Hathaway Letters to Shareholders by Warren Buffett. Lees meer
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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#87 Thomas Watson (IBM)
1 september 2019 · 1 uur 12 min
What I learned from reading The Maverick and His Machine: Thomas Watson Sr. and The Making of IBM by Kevin Maney.
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Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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#86 Carl Bosch and Fritz Haber (A Genius and a Doomed Tycoon)
25 augustus 2019 · 1 uur 21 min
What I learned from reading The Alchemy of Air: A Jewish Genius, a Doomed Tycoon, and the Scientific Discovery That Fed the World but Fueled the Rise of Hitler by Thomas Hager. Lees meer
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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#85 Walter and Olive Ann Beech (Aviation Legends)
18 augustus 2019 · 1 uur 9 min
What I learned from reading The Barnstormer and The Lady: Aviation Legends Walter and Olive Ann Beech by Dennis Farney. Lees meer
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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#84 Aristotle Onassis
11 augustus 2019 · 1 uur 28 min
What I learned from reading Onassis: The Definitive Biography by Willi Frischauer. Lees meer
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Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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#83 Thomas Edison, Nikola Tesla, George Westinghouse, and the Race to Electrify the World
4 augustus 2019 · 1 uur 50 min
What I learned from reading Empires of Light: Edison, Tesla, Westinghouse, and the Race to Electrify the World by Jill Jonnes.
Jeff Bezos on The Electricity Metaphor for the Web's Future Lees meer----
Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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#82 David Ogilvy (Ogilvy on Advertising)
28 juli 2019 · 1 uur 4 min
What I learned from reading Ogilvy on Advertising by David Ogilvy.
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In my Confessions of an Advertising Man I told the story of how Ogilvy & Mather came into existence, and set forth the principles on which our early success had been based. What was then little more than a creative boutique in New York has since become one of the four biggest advertising agencies in the world, with 140 offices in 40 countries. Our principles seem to work.
I do not regard advertising as entertainment or an art form, but as a medium of information. When I write an advertisement, I don’t want you to tell me that you find it ‘creative.’ I want you to find it so interesting that you buy the product.
When Aeschines spoke, they said, ‘How well he speaks.’ But when Demosthenes spoke, they said, ‘Let us march against Philip.’
Does old age disqualify me from writing about advertising in today’s world? Or could it be that perspective helps a man to separate the eternal verities of advertising from its passing fads?
Consumers still buy products whose advertising promises them value for money, beauty, nutrition, relief from suffering, social status and so on.
All I do is report on how consumers react to different stimuli.
I ask you to forgive me for oversimplifying some complicated subjects, and for the dogmatism of my style – the dogmatism of brevity. We are both in a hurry.
I have seen one advertisement actually sell not twice as much, not three times as much, but 19½ times as much as another. Both advertisements occupied the same space. Both were run in the same publication. Both had photographic illustrations. Both had carefully written copy. The difference was that one used the right appeal and the other used the wrong appeal.
Do your homework You don’t stand a tinker’s chance of producing successful advertising unless you start by doing your homework. I have always found this extremely tedious, but there is no substitute for it.
On product positioning: Now consider how you want to ‘pos… Lees meer -
#81 Henry Royce (Founder of Rolls-Royce)
22 juli 2019 · 1 uur 12 min
What I learned from reading Rolls-Royce: The First Forty Years of Britain's Most Prestigious Company by Peter Pugh. Lees meer
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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#80 Henry Ford (Today and Tomorrow)
14 juli 2019 · 46 min
What I learned from reading Today and Tomorrow by Henry Ford. Lees meer
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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#79 Charlie Munger (The Complete Investor)
7 juli 2019 · 1 uur 13 min
What I learned from reading Charlie Munger: The Complete Investor by Tren Griffin Lees meer
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Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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#78 Charlie Munger (the Tao of Charlie Munger)
30 juni 2019 · 59 min
What I learned from reading Tao of Charlie Munger: A Compilation of Quotes from Berkshire Hathaway's Vice Chairman on Life, Business, and the Pursuit of Wealth With Commentary by David Clark
How is it that Charlie—who trained as a meteorologist and a lawyer and never took a single college course in economics, marketing, finance, or accounting—became one of the greatest business and investing geniuses of the twentieth and twenty-first centuries? Therein lies the mystery. [0:44]
Charlie Munger was learning this important investment skill while playing poker with his army buddies. That’s where he learned to fold his hand when the odds were against him and bet heavy when the odds were with him, a strategy he later adapted to investing. [11:12]
Charlie thought a lot about business during that time. He made a habit of asking people what was the best business they knew of. He longed to join the rich elite clientele his silk-stocking law firm served. He decided that each day he would devote one hour of his time at the office to work on his own real estate projects, and by doing so he completed five. He has said that the first million dollars he put together was the hardest money he ever earned. It was also during that period that he realized he would never become really rich practicing law; he’d have to find something else. [12:18]
Warren, in summing up Charlie’s impact on his investment style over the last fifty-seven years, said, “Charlie shoved me in the direction of not just buying bargains, as Ben Graham had taught me. This was the real impact that he had on me. It took a powerful force to move me on from Graham’s limiting view. It was the power of Charlie’s mind.” [15:33]
Knowing what you don’t know is more useful than being brilliant. [17:39]
“People are trying to be smart—all I am trying to do is not to be idiotic, but it’s harder than most people think.” [17:58]
All good things in life come from compounding. [19:34]
This important investment philosophy assumes tha… Lees meer -
#77 Steve Jobs (The NeXT Years)
23 juni 2019 · 1 uur 38 min
What I learned from reading Steve Jobs & The NeXT Big Thing by Randall Stross. Lees meer
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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#76 Steve Jobs: The Early Years of Apple
16 juni 2019 · 1 uur 13 min
What I learned from reading Return to the Little Kingdom: Steve Jobs and the Creation of Appleby Michael Moritz. Lees meer
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Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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#75 Henry Clay Frick: Andrew Carnegie's Partner
9 juni 2019 · 1 uur 23 min
What I learned from reading Henry Clay Frick: The Life of the Perfect Capitalist by Quentin Skrabec Jr. Lees meer
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Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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#74 The Autobiography of Andrew Carnegie
2 juni 2019 · 55 min
What I learned from reading The Autobiography of Andrew Carnegie by Andrew Carnegie. Lees meer
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Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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#73 Andrew Carnegie and Henry Clay Frick: The Bitter Partnership That Changed America
26 mei 2019 · 1 uur 32 min
What I learned from reading Meet You in Hell: Andrew Carnegie, Henry Clay Frick, and the Bitter Partnership That Changed America by Les Standiford. Lees meer
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Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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#72 Stan Lee: Founder of Marvel
19 mei 2019 · 59 min
What I learned from reading Excelsior! The Amazing Life of Stan Lee by Stan Lee and George Mair.
Marvel is a cornucopia of fantasy, a wild idea, a swashbuckling attitude, an escape from the humdrum and prosaic. It's a serendipitous feast for the mind, the eye, and the imagination, a literate celebration of unbridled creativity, coupled with a touch of rebellion and an insolent desire to spit in the eye of the dragon (1:15)
discovering his love of reading at an early age (8:45)
accidentally finding his life's work at 17 years old / hilarious level of optimism (12:35), there is opportunity in things that other people say will rot your brain (22:30)
Stan Lee's advice on writing (26:00)
be your own biggest fan (28:00)
the turning point of Stan Lee's life (38:20)
humans scorn the abstract (45:20)
a lesson in human nature (51:30)
the power of direct sales (55:29) Lees meer----
Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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#71 Jeff Bezos' Shareholder Letters
12 mei 2019 · 1 uur 48 min
"To read Bezos’ shareholder letters is to get a crash course in running a high-growth internet business from someone who mastered it before any of the playbooks were written." Lees meer
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Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
----
“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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#70 Mark Spitznagel: The Dao of Capital
6 mei 2019 · 59 min
What I learned from reading The Dao of Capital: Austrian Investing in a Distorted World by Mark Spitznagel.
Klipp's Paradox (0:01)
the whole point of my approach to investing is that we must be willing to adopt the indirect route to achieve our goals (14:00)
finding his life's work (19:00)
if my children will only read one book on economics I would be Economics in One Lesson (25:30)
why it is always possible to start new, successful companies (30:00)
the point is not to go slow to stay glow. it is to go slow now so you can go faster later (34:15)
Robinson Crusoe and roundabout production (39:30)
Henry Ford as the quintessential roundabout entrepreneur (45:00)
how Mark uses roundabout in his investing (54:00) Lees meer----
Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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#69 Charles Goodyear: An Inventor's Obsession and the Struggle for a Rubber Monopoly
28 april 2019 · 1 uur 13 min
What I learned from reading The Goodyear Story: An Inventor's Obsession and The Struggle For A Rubber Monopoly by Richard Korman.
An obsessive quest to find the recipe for rubber (0:01)
Charles Goodyear epitomized the spirit of the upstart American technologists (6:15)
the early life of Goodyear's family (20:10)
coming up with the idea for a domestic made only hardware store (29:00)
a crushing failure + debtor's prison (35:20)
accidentally finding his life's work (38:18)
optimism + positive mental attitude (44:30)
Patent #3633 (1:03:30)
why Charles did what he did (1:11:30) Lees meer----
Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
Be like Gareth. Buy a book: All the books featured on Founders Podcast -
#68 Daniel Ludwig: The Invisible Billionaire
21 april 2019 · 1 uur 27 min
What I learned from reading The Invisible Billionaire: Daniel Ludwig by Jerry Shields.
The cameraman was excited and more than a little nervous. In a matter of moments he would enjoy a unique opportunity: the chance to snap the first unposed picture ever taken of the richest man in the world. The strange thing was that most Americans had never even heard of Daniel Keith Ludwig.How could a man in these days of mass media coverage and public obsession with world records, manage to accumulate a $3 billion fortune with hardly anyone becoming aware of it?Obsessed with privacy, he reportedly pays a major public relations firm fat fees to keep his name out of the papers.Daniel Ludwig is a man nobody knows yet his tanker fleet rivals those of the fabulous Greeks whose names are symbols of wealth. His empire began with shipping, grew big with shipbuilding, is branching out now into other fields.With Ludwig, work is almost an obsession. Spartan in personal habits, business gets almost 100% of his attention. Once a project begins Ludwig doesn't rest easy until completion date. Ludwig’s most notable characteristic, besides his imagination and pertinacity, is a lifelong penchant for keeping his mouth shut.He is interested in achievement, not fame.I'm in this business because I like it. I have no hobbies.D.K. was strictly a solo act. His zest for these operations is that of the lone wolf. He shares neither the rewards nor the risks with anyone.Ludwig doesn't drink much, he doesn't smoke at all, he doesn't entertain lavishly. He counts cakories religiously. His only bad habit is work and that he can't stop.Even as a boy Daniel exhibited a strong drive toward the acquisition of money.During the mid-to-late-1920s Ludwig was more involved in buying and selling ships than he was in operating them.The result was that hundreds of government-owned vessels, built at taxpayers' expense, were being sold off at well below cost both to legitimate shippers and to speculators who did the minim… Lees meer -
#67 Conrad Hilton: Hilton Hotel Dynasty
14 april 2019 · 1 uur 26 min
What I learned from reading The Hiltons: The True Story of an American Dynasty by J. Randy Taraborrelli.
100 years ago he was a man with $5000 to his name (0:01)
the curse of the ambitious/early life + work (6:35)
Conrad Hilton is inspired by Helen Keller's optimism (13:00)
the first Hilton hotel + more failed businesses (14:45)
Conrad at 32 years old /falling back into the Hotel business by accident (25:30)
losing it all / The Great Depression (35:00)
The Great Depression's effect on his business and marriage (49:00)
Conrad's advice on how to make decisions (56:22)
Conrad Hilton's philosophy on money (1:03:47)
it is important to have friends around you that increase your ambition (1:11:30)
the regrets of Conrad Hilton (1:23:48) Lees meer----
Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
Be like Gareth. Buy a book: All the books featured on Founders Podcast -
#66 Henry Kaiser: Builder in the Modern American West
7 april 2019 · 1 uur 25 min
What I learned from reading Henry J. Kaiser: Builder in the Modern American West by Mark Foster.
He built giant businesses in roads, bridges, dams, housing, cement, aluminum, chemicals, steel, health care, and tourism. (0:01)
starting a joint venture with Howard Hughes (6:40)
learning how not to run a business (12:00)
how Kaiser was able to start his own business with no money (18:00)
I decided to pick one fellow I wanted most to work for and concentrate on him. (23:15)
how Henry Kaiser used passion and enthusiasm to start a construction company in Vancouver (30:00)
using the leverage that technology provides or how to make big jobs small (44:00)
very difficult work + fewer people willing to do it = opportunity (50:40)
how Kaiser goes from never building ships to having 200,000 employees building ships (1:00:00), Kaiser promoted himself as an industrialist populist (1:13:00)
Kaiser's managerial style (1:15:00) Lees meer----
Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
Be like Gareth. Buy a book: All the books featured on Founders Podcast -
#65 Kirk Kerkorian: Penniless Dropout became the Greatest Deal Maker in Capitalist History
31 maart 2019 · 1 uur 10 min
What I learned from reading The Gambler: How Penniless Dropout Kirk Kerkorian Became the Greatest Deal Maker in Capitalist History by William C. Rempel.
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[0:16] He was a humble man privately proud of his accomplishments, a business genius who ignored his MBA advisers, a daring aviator and movie mogul, a gambler at the casino and on Wall Street who played the odds in both houses with uncanny skill.
[4:34] Kirk believed there was no point in placing small bets. [16:48] He was a day laborer at MGA studios. He made $2.60 a day. Thirty years later he owned MGM and his investment was returning $260,000 a day. [21:27] His low tolerance for mistakes and recklessness made him a demanding instructor. He often repeated the mantra: There are old pilots and there are bold pilots—but there are no old, bold pilots. [46:54] He still relished big risks. And he subscribed to the logic of his friend and casino owner Wilbur Clark of the Desert Inn: “The smaller your bet, the more you lose when you win.” Besides, what’s the point—where’s the thrill—winning a small wager? Betting the limit became Kirk’s trademark.
[53:26] Kirk was now sitting on stock worth more than $66 million, a vast fortune by any measure. And no one was more surprised than he was.
[1:09:03] Kirk blamed Kirk. He had let himself become vulnerable. He hated that. He hated feeling helpless and at the mercy of forces beyond his control. He vowed never to let anything like that happen again. Lees meer----
Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
----
“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
Be like Gareth. Buy a book: All the books featured on Founders Po… -
#64 Coco Chanel: Her Life and Secrets
24 maart 2019 · 58 min
What I learned from reading Coco Chanel: Her Life, Her Secrets.
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It is my work I am congratulated on, and to me, that's the only thing that counts (0:01)
I've been miserable in a life that from the outside seemed magnificent (4:15)
The maxims of Coco Chanel (6:43)
Coco on marketing (13:22)
Coco's early life (15:15)
My need for independence began to develop when I was very young. (18:53)
Coco Chanel at 20 (28:15)
the beginning of her empire (34:00)
I have nothing and I know I can do anything. (37:00)
relentlessly resourceful / a metaphor on how to create opportunity (41:04)
Coco goes to war for her profits - and wins (48:45) Lees meer----
Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
Be like Gareth. Buy a book: All the books featured on Founders Podcast -
#63 The King of Oil: The Secret Lives of Marc Rich
10 maart 2019 · 1 uur 24 min
What I learned by from reading The King of Oil: The Secret Lives of Marc Rich by Daniel Ammann.
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The spot market for oil was one of the most lucrative ideas of the twentieth century. [0:01]
the historical events intertwined with the career of Marc Rich [5:15]
how his family escapes the Nazi's [12:00]
his first jobs + learning from his father + finding his vocation [14:30]
learning the commodities business from A to Z [20:00]
his work environment was training for entrepreneurship + how he thought about the opportunity in oil [30:30]
Marc gets screwed on pay so he starts his own company [35:00]
why Marc chose Switzerland as the headquarters of Marc Rich + Co. [37:00]
why the invention of the spot market was important [43:00]
why Marc Rich thought he was exempt from Jimmy Carter's executive order [46:15]
the state of his business in 1990 [1:01:00]
how to lose $172,000,000 [1:14:00] Lees meer----
Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
----
“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
Be like Gareth. Buy a book: All the books featured on Founders Podcast