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    • Discovering the untold stories of Tony BourdainThrough interviews with 91 people, the author reveals Tony Bourdain's complex and multifaceted personality beyond his published works in an engaging oral biography format.

      Learning from the discussion about the book "Bourdain" by Laurie Wollever is that Tony Bourdain's death marked the beginning of a long journey for the author to discover and share the untold stories of the renowned chef, writer, and television personality. Through interviews with 91 people who knew Tony in various stages of his life, the author gained insights into Tony's motivations, vulnerabilities, and blind spots, revealing a complex and multifaceted individual beyond what had been previously shared in his published works. The oral biography format of the book, consisting of transcripts from these interviews in chronological order, offers a unique and engaging perspective into Tony's life. A devoted fan of Tony's work, the podcast host felt a deep connection to Tony before reading the book, making the experience of learning more about him all the more poignant. The book not only provides valuable insights into Tony's life but also highlights the importance of biographies in helping us understand and connect with the lives of others.

    • From troubled past to culinary successAnthony Bourdain overcame a difficult childhood and drug addiction to build a successful career as a chef and author, inspiring us to pursue our passions despite past challenges.

      Anthony Bourdain, despite his troubled childhood marked by a strained relationship with his mother and a history of drug addiction, was able to transform his life through hard work and determination. His passion for reading and cooking led him to drop out of college and pursue a career in the culinary industry, ultimately leading to his success as a bestselling author and world-renowned chef. However, his early years were filled with challenges, including a difficult relationship with his mother and experimentation with various drugs. Despite these obstacles, Bourdain's intelligence, discipline, and resilience allowed him to leave his past behind and rebuild his life. He once famously stated, "I cruelly burned down my previous life in its entirety," reflecting his commitment to starting anew. Bourdain's story serves as a reminder that no matter the challenges faced in one's past, it's never too late to make positive changes and pursue one's passions.

    • From dishwasher to chef to TV show creator - the power of taking the first stepTaking the initial step into the unknown, despite uncertainty and potential mistakes, is crucial for living the life we truly want. Persistence and determination, even in the face of setbacks, can lead to success and fulfillment.

      Our experiences, even the difficult and seemingly insignificant ones, can lead us to opportunities and paths we never imagined. Tony Bourdain's journey from dishwasher to chef to author and TV show creator is a testament to this idea. He emphasized that taking that initial step into the unknown, despite the uncertainty and potential mistakes, is essential for living the life we truly want. Bourdain's passion for cooking and storytelling began long before his fame, and his visionary ideas for shows and books were decades in the making. His determination and persistence, despite setbacks and challenges, ultimately led him to a successful and fulfilling career. Additionally, his early experiences before fame provide a unique and interesting perspective for his audience, highlighting the importance of communication and sharing stories.

    • Anthony Bourdain's Early Work: Raw Talent and GrowthAnthony Bourdain's early work showcased raw talent, but also flaws. These early efforts paved the way for his later, more impactful projects, reflecting the power of persistence and growth.

      Anthony Bourdain's early work, such as "A Cook's Tour," showcases his raw talent and potential, despite visible flaws and inconsistencies. These early efforts paved the way for his later, more polished and impactful projects, like "Parts Unknown," which showcased his deep understanding and appreciation of various cultures and cuisines. Bourdain's unwavering dedication to his craft, despite personal struggles and challenges, is a testament to the power of persistence and the potential for growth and improvement over time. Additionally, Bourdain's admiration for French culinary traditions, as influenced by Auguste Escoffier, played a significant role in shaping his career and worldview.

    • Anthony Bourdain's Inner Will and Discipline: Driven by Addiction and PassionAnthony Bourdain's addiction to drugs and writing fueled his success despite personal struggles, showcasing his unwavering determination and multidimensional interests.

      Anthony Bourdain's inner will and discipline were exemplified by his unwavering addiction to various vices throughout his life, from drugs to writing. His manic and impulsive personality, which led him to become a heroin and crack addict, also played a role in his suicide over the dissolution of a relationship. Despite these challenges, his passion for writing and creating content was a driving force in his life, even during his time working in restaurants. His multidimensional interests and encyclopedic knowledge set him apart from his peers, and his determination to become a successful writer marked the "starving for success" phase of his career.

    • Anthony Bourdain's Early Years: A Restless Search for a New LifeDespite facing challenges like insecurities, addiction, and lack of direction, Anthony Bourdain's determination and friendship with Joel Rose led him to overcome obstacles and become a successful author and television personality. His passion for storytelling and unique voice shone through in his early writing.

      Anthony Bourdain's early years were marked by a deep desire to become a writer and a restless search for a new life. He faced many challenges, including insecurities about his writing abilities, a heroin addiction, and a lack of direction. However, he remained determined and willing to figure things out. His friendship with Joel Rose, a writing collaborator and publisher, played a significant role in his journey. Bourdain's early writing shows his passion for storytelling and his unique voice. Despite his struggles, he was able to overcome his addiction with the help of methadone and went on to become a successful author and television personality. The theme of wanting to escape and start anew is a recurring one in Bourdain's life, from his dreams of living in Saint Martin to his eventual career as a travel writer and host.

    • From fear and self-destruction to productivity and successAnthony Bourdain overcame fear, addiction, and self-destructive behavior to transform his life and achieve success as a celebrated author.

      Anthony Bourdain's life was marked by periods of self-destructive behavior and fear, but also by incredible determination and the ability to transform negative energy into productivity. His dream of living a different life, free from the demands of his career and relationships, was a constant theme throughout his life. Despite his fears and addictions, he eventually found success and fulfillment through his writing, starting with the publication of "Kitchen Confidential" after years of hard work and dedication. His transformation from a cook to a celebrated author was a testament to his resilience and the power of focusing his energy on something productive. The impact of his work was significant, touching intellectuals and the general public alike, and even surprising him with its success.

    • The contrasting worlds of Anthony Bourdain and Eric RipertDespite fame and success, Anthony Bourdain's addiction and fear of losing it all kept him in a constant state of terror, but his friendship with Eric Ripert provided a source of support and growth.

      Anthony Bourdain, a chef who struggled with personal demons and financial instability, found fame and success with his book "Kitchen Confidential," but was constantly haunted by his past and the fear of losing it all. He was driven by a desire to learn new crafts and seize opportunities, leading him to form an unlikely friendship with high-end chef Eric Ripert. Despite his success, Bourdain's addiction and fear of losing it all kept him in a state of terror, even as he continued to achieve more. The documentary "Roadrunner" explores the contrasting worlds of these two chefs and the impact their friendship had on Bourdain's life. It's a reminder that even those who seem to have it all can still struggle with internal demons and the fear of losing it all.

    • The importance of cherishing relationshipsRemember, relationships and memories are more valuable than personal achievements. Cherish the impact we have on others and recognize their value in our lives.

      The people and relationships we build in our lives are the most valuable things we can have. Tony Bourdain, a renowned chef and travel documentarian, had a successful career but struggled with loneliness and despair. Despite having many friends and fans, he couldn't see the impact he had on others. His suicide left those close to him devastated, and his daughter's words in his final book serve as a poignant reminder of the importance of cherishing relationships. It's easy to get caught up in the pursuit of success and personal achievement, but it's essential to remember that the memories and connections we create with others are what truly matter. Tony's story serves as a reminder of the potential consequences of neglecting our relationships and the importance of recognizing and appreciating the impact we have on those around us.

    • Adaptability and work ethic lead to successSuccessful people like Anthony Bourdain and Herb Keller thrive by being adaptable and having a strong work ethic, allowing them to seize opportunities and respond to changes in their industries.

      Having a strong work ethic and the ability to adapt and move quickly are essential for success. As illustrated in the discussion about Anthony Bourdain, he was successful not only because of his deep historical knowledge and interesting personality, but also because of his willingness to sell his product and promote himself. This was evident in his approach to his career, from the publication of "Kitchen Confidential" to the creation of his television show. Herb Keller, the founder of Southwest Airlines, shared a similar approach, optimizing for flexibility and focusing on action rather than rigid planning. Both men thrived in industries where things change rapidly, and their success came from their ability to adapt and seize opportunities.

    • From food writing to TV productionEmbracing new experiences and staying passionate can lead to unexpected success, even amidst initial discomfort and challenges.

      Flexibility and openness to new experiences can lead to unexpected success. Tony Bourdain's initial idea of traveling the world and writing about food evolved into the creation of a successful production company and television shows like "No Reservations" and "Parts Unknown." However, his journey was a challenging one, marked by his introverted nature and initial discomfort with being filmed. His mother's interference in his career also added to the stress. Despite these challenges, Bourdain's passion for food, travel, and film allowed him to grow and improve, transforming his raw footage into captivating television. The first few episodes of "Cook's Tour" on YouTube serve as a reminder of the humble beginnings of this global success story.

    • Tony Bourdain's Personal Struggles and Public SuccessDespite personal struggles with depression, self-harm, and multiple failed marriages, Tony Bourdain continued to pursue his love for food and travel, eventually finding success with his show 'No Reservations'.

      Tony Bourdain, a renowned chef and television personality, had a complex and tumultuous personal life that often interfered with his public success. Despite his initial passion for cooking and exploration, his personal struggles led him to self-destructive behaviors and multiple failed marriages. His dark tendencies and romantic nature contributed to his intense relationships, which crumbled and sent him into spirals of depression and self-harm. The documentary "The Mind of a Chef" reveals some of these experiences, including his time in Vietnam, the end of his first marriage, and his struggles with fame and infidelity. Despite these challenges, Bourdain continued to pursue his love for food and travel, eventually finding success with his show "No Reservations." However, his personal demons ultimately led him to take his own life in 2018.

    • Staying true to authenticity and viewer experienceAuthenticity and viewer connection are key to success. Don't compromise your vision for network pressures.

      Tony Bourdain's success with "No Reservations" came from his unwavering commitment to authenticity and his focus on the viewer experience, despite his initial insecurities and resistance from the network. This mindset shift, which prioritized the product over network pleasing, allowed Bourdain to create a deep connection with his audience and ultimately, optimize for adventure and live a full life in his 61 years. The story also highlights the importance of staying true to one's vision and not letting external pressures compromise the authenticity of the work.

    • From Addict to Renowned Chef and TV PersonalityAnthony Bourdain's struggles with addiction and social anxiety transformed into a successful career as a chef and TV personality, despite ongoing battles with depression and suicidal thoughts.

      Anthony Bourdain, despite his struggles with addiction and social anxiety, was able to transform his experiences and skills into a highly successful second life. His resourcefulness and discipline, honed during his time as a junkie, served him well in his career as a world-renowned chef and television personality. However, his past continued to haunt him, with periods of deep depression and suicidal thoughts. Despite his fame, Bourdain struggled with social anxiety and developed agoraphobia towards the end of his life. Yet, he remained observant and appreciated those who understood him. His approach to his work was intense, and the line between his persona and his shows was blurred, resonating with his fans. A key moment in his life was when he met his second wife, Ottavia, which brought about a shift in his attitude towards life and his relationships.

    • Embracing authenticity and living life to the fullestTony Bourdain inspired others to take risks, experience life fully, and cherish memories through his authenticity and connection with viewers.

      Authenticity and living life to the fullest were values that Tony Bourdain embodied and inspired in others. Coco Chanel's quote about not playing at one's living resonated with Bourdain, who saw the importance of taking risks and experiencing life. He stood by his beliefs and vision for his show, creating a connection with viewers that went beyond the screen. The impact of his life was evident in the outpouring of grief after his death, as people shared memories of the priceless experiences they had with him. Travel, which changed both Tony and David Chang's lives, was a reminder of the importance of making the most of time and cherishing the memories created along the way.

    • A life of extremes: euphoria and terrorDespite personal challenges, Bourdain continued to live in the public eye and perform as Anthony Bourdain, recognizing the cost of fame.

      Tony Bourdain's life, filled with incredible experiences and adventures, was marked by extreme highs and lows. He sought out extremes of emotion and experience, leading to a life of euphoria and terror with little in between. However, this approach took a toll on his personal relationships and mental health, causing him to consider quitting his show and retreating to a simpler life multiple times. Ultimately, he chose to continue living in the public eye and being accountable to his crew, recognizing that the cost of fame was a constant need to perform as Anthony Bourdain. Despite the challenges, he acknowledged that some days, it was all worth it.

    • Balancing Success and Personal LifeSuccessful people like Ed Thorpe understand the importance of balancing success with personal life and avoiding overoptimization to maintain control and peace of mind.

      Successful people like Ed Thorpe, as detailed in his autobiography "A Man For All Markets," understood the importance of balancing success with personal life. Thorpe, who was extremely successful financially and professionally, avoided the common pitfall of overoptimizing and neglecting other areas of his life. He identified a few key areas to excel in and lived a balanced life. Nassim Taleb, who wrote the foreword, emphasized the importance of owning one's life and avoiding large structures that can lead to loss of control. Thorpe's independence and self-control are evident in his long life and continued success. Another lesson from Thorpe that Taleb learned was the importance of avoiding large structures and dealing with human moods, as they can add unnecessary stress. Tony Bourdain, on the other hand, struggled with peace of mind due to his contentious relationship with his mother and her demands for financial support. Ultimately, Thorpe's ability to maintain control of his life contributed to his longevity and continued success.

    • Fear of stopping and pressure to succeed drive individuals to continue in their pursuitsFear of failure and pressure to meet high viewership numbers can compel individuals to continue working, while a more hands-off approach from companies like Netflix could lead to greater success and personal fulfillment.

      Fear of stopping and the pressure to succeed can drive individuals to continue in their pursuits despite the personal toll. This was evident in the life of Anthony Bourdain, who despite his success in writing, lectures, and a radio show, felt compelled to continue traveling and producing his television series. The fear of failure and the pressure to meet high viewership numbers, as exemplified by CBS, added to this sense of obligation. Conversely, companies like Netflix offer a more hands-off approach, allowing creators the freedom to produce their work without external interference, which could potentially lead to greater success and personal fulfillment.

    • Tony Bourdain's Demand for Excellence and the ConsequencesStrive for excellence, but also prioritize personal well-being and avoid toxic relationships.

      Tony Bourdain, a renowned television personality, was known for his unwavering dedication to excellence and his intolerance for anything less than the best. He demanded clarity in communication and set high standards for himself and his team. However, his addiction to chaos and intense work environment took a toll on his health and personal life. Despite warnings, he became involved with Asia Argento, who proved to be a negative influence. In the end, Bourdain's bad habits caught up with him, and he missed an opportunity to change his path and find a better balance between his work and personal life. The lesson here is to strive for excellence while also being mindful of personal well-being and avoiding toxic relationships.

    • The impact of loved ones and passions on our well-beingSurround yourself with positive influences and pursue healthy passions to improve your mood, mental and emotional well-being.

      The influence of those around us can significantly impact our lives, for better or for worse. The speaker's father's smoking habit, despite the speaker's attempts to persuade him to quit, serves as a reminder of the importance of surrounding oneself with positive influences. The story of Anthony Bourdain's passion for jiu-jitsu illustrates the power of finding an obsession that brings joy and improves one's well-being. The speaker suggests trying to introduce loved ones to new passions and observes how Bourdain's dedication to jiu-jitsu positively affected his mood and outlook on life. Greek philosophers and Nelson Mandela have also emphasized the benefits of rigorous physical activity as a means of reducing stress and improving mental and emotional well-being. Ultimately, the speaker encourages the pursuit of healthy passions and the careful consideration of the people we allow into our inner circle.

    • The impact of relationships on our livesBe mindful of the people we surround ourselves with as they can positively or negatively impact our lives. Choose relationships that support our growth and values.

      The people we surround ourselves with significantly impact our lives. Denny, a man with an all-encompassing personality, found himself influenced negatively by a toxic relationship that led him back to old vices, ultimately affecting his health and well-being. Those closest to him, including his long-term agent, warned him about the negative influence, but also recognized his limited perception of choices in his relationships. The importance of being cautious about who we allow into our lives cannot be overstated. Denny's story serves as a reminder to never let someone destroy our family or compromise our values and commitments.

    • Struggling to Recognize Unhealthy RelationshipsRecognize unhealthy relationships, take control, and reflect on personal growth to avoid projecting insecurities onto others.

      People often struggle to recognize when they're in unhealthy relationships, even when others around them can see the warning signs. Tony's story is an extreme example, but it's likely a common experience for many. Despite knowing that their relationships were harmful, some people continue to engage in them due to the allure of the excitement and the fear of the unknown. Tony's inability to leave his destructive relationships, despite repeated warnings from those around him, ultimately led to tragic consequences. The quote from George Lucas about people being in cages with open doors highlights the importance of taking control of one's own life and making a change when necessary. Another poignant moment in the book is when Tony discourages a friend from starting a family due to his own failures as a father. This incident underscores the importance of self-reflection and the potential consequences of projecting one's own insecurities onto others.

    • Girlfriend's interference dismantled teamLeaders must balance personal relationships and professional responsibilities to maintain team trust and productivity.

      Relationships, even those filled with love, can have detrimental effects on a team when one partner exerts excessive control. The story shared illustrates how a girlfriend's interference in a production team led to distrust, resentment, and ultimately, the dismantling of a once tight-knit group. The team members felt that their long-term loyalty and contributions were disposable if their CEO's girlfriend disapproved of them. This situation led to a complete breakdown in trust and communication, ultimately impacting the team's morale and productivity. It's crucial for leaders to maintain a balance between personal relationships and professional responsibilities, ensuring that their team remains a priority and feels valued.

    • The weight of public scrutiny and betrayal can lead to despair and suicidePublic scrutiny and betrayal can amplify private pain, making it unbearable for some, even for successful and seemingly content individuals.

      The pressure of public scrutiny and betrayal can lead even the most successful and seemingly content individuals to feel despair and ultimately take their own lives. The case of Tony, a famous person who was publicly cheated on, illustrates this. Despite his wealth, fame, and seemingly idyllic life, he was unable to cope with the shame and humiliation, leading him to communicate through Instagram stories with ominous music and themes of betrayal and revenge. His mood turned dark, and he asked for discretion, but ultimately, he was found dead in a hotel the next day. The social pressure and public scrutiny amplified the pain of his private heartbreak, making it unbearable for him. This tragic story serves as a reminder that no matter how successful or content someone appears to be, they may still be struggling with private pain and the weight of public opinion. It's essential to remember that everyone deserves compassion and understanding, especially in their darkest moments.

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    What I learned from reading Sam Walton: The Inside Story of America's Richest Man by Vance Trimble. 

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    (2:30) Sam Walton built his business on a very simple idea: Buy cheap. Sell low. Every day. With a smile.

    (2:30) People confuse a simple idea with an ordinary person. Sam Walton was no ordinary person.

    (4:30) Traits Sam Walton had his entire life: A sense of duty. Extreme discipline. Unbelievable levels of endurance.

    (5:30) His dad taught him the secret to life was work, work, work.

    (5:30) Sam felt the world was something he could conquer.

    (6:30) The Great Depression was a big leveler of people. Sam chose to rise above it. He was determined to be a success.

    (11:30) You can make a lot of different mistakes and still recover if you run an efficient operation. Or you can be brilliant and still go out of business if you’re too inefficient. — Sam Walton: Made In America by Sam Walton. (Founders #234)

    (15:30) He was crazy about satisfying customers.

    (17:30) The lawyer saw Sam clenching and unclenching his fists, staring at his hands. Sam straightened up. “No,” he said. “I’m not whipped. I found Newport, and I found the store. I can find another good town and another store. Just wait and see!”

    (21:30) Sometimes hardship can enlighten and inspire. This was the case for Sam Walton as he put in hours and hours of driving Ozark mountain roads in the winter of 1950. But that same boredom and frustration triggered ideas that eventually brought him billions of dollars. (This is when he learns to fly small planes. Walmart never happens otherwise)

    (33:30) At the start we were so amateurish and so far behind K Mart just ignored us. They let us stay out here, while we developed and learned our business. They gave us a 10 year period to grow.

    (37:30) And so how dedicated was Sam to keeping costs low? Walmart is called that in part because fewer letters means cheaper signs on the outside of a store.

    (42:30) Sam Walton is tough, loves a good fight, and protects his territory.

    (43:30) His tactics later prompted them to describe Sam as a modern-day combination of Vince Lombardi (insisting on solid execution of the basics) and General George S. Patton. (A good plan, violently executed now, is better than a perfect plan next week.)

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    (46:30) The early days of Wal-Mart were like the early days of Disneyland: "You asked the question, What was your process like?' I kind of laugh because process is an organized way of doing things. I have to remind you, during the 'Walt Period' of designing Disneyland, we didn't have processes. We just did the work. Processes came later. All of these things had never been done before. Walt had gathered up all these people who had never designed a theme park, a Disneyland.

    So we're in the same boat at one time, and we figure out what to do and how to do it on the fly as we go along with it and not even discuss plans, timing, or anything.

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    (1:07:30) Nothing in the world is cheaper than a good idea without any action behind it.

    (1:07:30)  Sam Walton: Made In America  (Founders #234)

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    (2:00) My father was a self-made man who had known extreme poverty in his youth and had a practically limitless capacity for hard work.

    (6:00) I acted as my own geologist, legal advisor, drilling superintendent, explosives expert, roughneck and roustabout.

    (8:00) Michael Jordan: The Life by Roland Lazenby. (Founders #212) 

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    (20:00) Optimism is a moral duty. Pessimism aborts opportunity.

    (21:00) I studied the lives of great men and women. And I found that the men and women who got to the top were those who did the jobs they had in hand, with everything they had of energy and enthusiasm and hard work.

    (22:00) 98 percent of our attention was devoted to the task at hand. We are believers in Carlyle's Prescription, that the job a man is to do is the job at hand and not see what lies dimly in the distance. — Charlie Munger

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    (38:00) A Few Lessons for Investors and Managers From Warren Buffett by Warren Buffett and Peter Bevelin. (Founders #202) 

    (41:00) Two principles he repeats:

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    (43:00) Years ago, businessmen automatically kept administrative overhead to an absolute minimum. The present day trend is in exactly the opposite direction. The modern business mania is to build greater and ever greater paper shuffling empires.

    (44:00) Les Schwab Pride In Performance: Keep It Going!by Les Schwab (Founders #330) 

    (46:00) The primary function of management is to obtain results through people.

    (50:00) the truly great leader views reverses, calmly and coolly. He is fully aware that they are bound to occur occasionally and he refuses to be unnerved by them.

    (51:00) There is always something wrong everywhere.

    (51:00) Don't interrupt the compounding. It’s all about the long term. You should keep a fortress of cash, reinvest in your business, and use debt sparingly. Doing so will help you survive to reap the long-term benefits of your business.

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    (55:00) The line that divides majority opinion from mass hysteria is often so fine as to be virtually invisible.

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    Get access to Founders Notes here

    You can also ask SAGE (the Founders Notes AI assistant) any question and SAGE will read all my notes, highlights, and every transcript from every episode for you.

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    (2:00) Vice President Nelson Rockefeller did me the honor of saying that my entrepreneurial success in the oil business put me on a par with his grandfather, John D. Rockefeller Sr. My comment was that comparing me to John D. Sr. was like comparing a sparrow to an eagle. My words were not inspired by modesty, but by facts.

    (8:00) On his dad sending him to military school: The strict, regimented environment was good for me.

    (20:00) Entrepreneurs are people whose mind and energies are constantly being used at peak capacity.

    (28:00) Advice for fellow entrepreneurs: Don’t be like William Randolph Hearst. Reinvest in your business. Keep a fortress of cash. Use debt sparingly.

    (30:00) The great entrepreneurs I know have these traits:

    -Devoted their minds and energy to building productive enterprises (over the long term)

    -They concentrated on expanding

    -They concentrated on making their companies more efficient 

    -They reinvest heavily in to their business (which can help efficiency and expansion )

    -Always personally involved in their business

    -They know their business down to the ground

    -They have an innate capacity to think on a large scale

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    (36:00) My business interests created problems [in my marriages]. I was drilling several wells and it was by no means uncommon for me to stay on the sites overnight or even for two days or more.

    (38:00) A hatred of failure has always been part of my nature and one of the more pronounced motivating forces in my life.  Once I have committed myself to any undertaking, a powerful inner drive cuts in and I become intent on seeing it through to a satisfactory conclusion.

    (38:00) My own nature is such that I am able to concentrate on whatever is before me and am not easily distracted from it.

    (42:00) There are times when certain cards sit unclaimed in the common pile, when certain properties become available that will never be available again. A good businessman feels these moments like a fall in the barometric pressure. A great businessman is dumb enough to act on them even when he cannot afford to. — The Fish That Ate the Whale: The Life and Times of America's Banana King by Rich Cohen. (Founders #255)

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    (53:00) Churchill to his son: Your idle and lazy life is very offensive to me. You appear to be leading a perfectly useless existence.

    (54:00) My father's influence and example where the principle forces that formed my nature and character.

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    What I learned from reading about Hans Wilsdorf and the founding of Rolex.

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    Can you give me a summary of Warren Buffett's best ideas? (Substitute any founder covered on the podcast and you'll get a comprehensive and easy to read summary of their ideas) 

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    (0:01) At the age of twelve I was an orphan.

    (1:00) My uncles made me become self-reliant very early in life. Looking back, I believe that it is to this, that much of my success is due.

    (9:00) The idea of wearing a watch on one's wrist was thought to be contrary to the conception of masculinity.

    (10:00) Prior to World War 1 wristwatches for men did not exist.

    (11:00) Business is problems. The best companies are just effective problem solving machines.

    (12:00) My personal opinion is that pocket watches will almost completely disappear and that wrist watches will replace them definitively! I am not mistaken in this opinion and you will see that I am right." —Hans Wilsdorf, 1914

    (14:00) The highest order bit is belief: I had very early realized the manifold possibilities of the wristlet watch and, feeling sure that they would materialize in time, I resolutely went on my way. Rolex was thus able to get several years ahead of other watch manufacturers who persisted in clinging to the pocket watch as their chief product.

    (16:00) Clearly, the companies for whom the economics of twenty-four-hour news would have made the most sense were the Big Three broadcasters. They already had most of what was needed— studios, bureaus, reporters, anchors almost everything but a belief in cable.   —  Ted Turner's Autobiography (Founders #327)

    (20:00) Business Breakdowns #65 Rolex: Timeless Excellence

    (27:00)   Rolex was effectively the first watch brand to have real marketing dollars put behind a watch. Rolex did this in a concentrated way and they've continued to do it in a way that is simply just unmatched by others in their industry.

    (28:00) It's tempting during recession to cut back on consumer advertising. At the start of each of the last three recessions, the growth of spending on such advertising had slowed by an average of 27 percent. But consumer studies of those recessions had showed that companies that didn't cut their ads had, in the recovery, captured the most market share. So we didn't cut our ad budget. In fact, we raised it to gain brand recognition, which continued advertising sustains. — Four Seasons: The Story of a Business Philosophy by Isadore Sharp. (Founders #184)

    (32:00) Social proof is a form of leverage. — Poor Charlie's Almanack: The Wit and Wisdom of Charlie Munger. (Founders #329)

    (34:00) What really matters is Hans understood the opportunity better than anybody else, and invested heavily in developing the technology to bring his ideas to fruition.

    (35:00) On keeping the main thing the main thing for decades: In developing and extending my business, I have always had certain aims in mind, a course from which I never deviated.

    (41:00) Rolex wanted to only be associated with the best. They ran an ad with the headline: Men who guide the destinies of the world, where Rolex watches.

    (43:00) Opportunity creates more opportunites. The Oyster unlocked the opportunity for the Perpetual.

    (44:00) The easier you make something for the customer, the larger the market gets: “My vision was to create the first fully packaged computer. We were no longer aiming for the handful of hobbyists who liked to assemble their own computers, who knew how to buy transformers and keyboards. For every one of them there were a thousand people who would want the machine to be ready to run.” — Steve Jobs

    (48:00) More sources:

    Rolex Jubilee: Vade Mecum by Hans Wilsdorf

    Rolex Magazine: The Hans Wilsdorf Years

    Hodinkee: Inside the Manufacture. Going Where Few Have Gone Before -- Inside All Four Rolex Manufacturing Facilities 

    Vintage Watchstraps Blog: Hans Wilsdorf and Rolex

    Business Breakdowns #65 Rolex: Timeless Excellence

    Luxury Strategy: Break the Rules of Marketing to Build Luxury Brands by Jean Noel Kapferer and Vincent Bastien 

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    #350 How To Sell Like Steve Jobs

    #350 How To Sell Like Steve Jobs

    What I learned from reading The Presentation Secrets of Steve Jobs: How to Be Insanely Great in Front of Any Audience by Carmine Gallo 

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    (1:00) You've got to start with the customer experience and work back toward the technology—not the other way around.  —Steve Jobs in 1997

    (6:00) Why should I care = What does this do for me?

    (6:00) The Match King: Ivar Kreuger, The Financial Genius Behind a Century of Wall Street Scandals by Frank Partnoy.  (Founders #348)

    (7:00) Easy to understand, easy to spread.

    (8:00) An American Saga: Juan Trippe and His Pan Am Empire by Robert Daley 

    (8:00) The Fish That Ate the Whale: The Life and Times of America's Banana King by Rich Cohen. (Founders #255)

    (9:00)  love how crystal clear this value proposition is. Instead of 3 days driving on dangerous road, it’s 1.5 hours by air. That’s a 48x improvement in time savings. This allows the company to work so much faster. The best B2B companies save businesses time.

    (10:00) Great Advertising Founders Episodes:

    Albert Lasker (Founders #206)

    Claude Hopkins (Founders #170 and #207)

    David Ogilvy (Founders #82, 89, 169, 189, 306, 343) 

    (12:00) Advertising which promises no benefit to the consumer does not sell, yet the majority of campaigns contain no promise whatever. (That is the most important sentence in this book. Read it again.) — Ogilvy on Advertising 

    (13:00) Repeat, repeat, repeat. Human nature has a flaw. We forget that we forget.

    (19:00) Start with the problem. Do not start talking about your product before you describe the problem your product solves.

    (23:00) The Invisible Billionaire: Daniel Ludwig by Jerry Shields. (Founders #292)

    (27:00) Being so well known has advantages of scale—what you might call an informational advantage.

    Psychologists use the term social proof. We are all influenced-subconsciously and, to some extent, consciously-by what we see others do and approve.

    Therefore, if everybody's buying something, we think it's better.

    We don't like to be the one guy who's out of step.

    The social proof phenomenon, which comes right out of psychology, gives huge advantages to scale.

    —  the NEW Poor Charlie's Almanack: The Wit and Wisdom of Charlie Munger (Founders #329)

    (29:00) Marketing is theatre.

    (32:00) Belief is irresistible. — Shoe Dog: A Memoir by the Creator of Nike by Phil Knight.  (Founders #186)

    (35:00) I think one of the things that really separates us from the high primates is that we’re tool builders. I read a study that measured the efficiency of locomotion for various species on the planet. The condor used the least energy to move a kilometer. And, humans came in with a rather unimpressive showing, about a third of the way down the list. It was not too proud a showing for the crown of creation. So, that didn’t look so good. But, then somebody at Scientific American had the insight to test the efficiency of locomotion for a man on a bicycle. And, a man on a bicycle, a human on a bicycle, blew the condor away, completely off the top of the charts.

    And that’s what a computer is to me. What a computer is to me is it’s the most remarkable tool that we’ve ever come up with, it’s the equivalent of a bicycle for our minds.

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    #349 How Steve Jobs Kept Things Simple

    #349 How Steve Jobs Kept Things Simple

    What I learned from reading Insanely Simple: The Obsession That Drives Apple's Success by Ken Segall. 

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    What are the most important leadership lessons from history's greatest entrepreneurs?

    Can you give me a summary of Warren Buffett's best ideas? (Substitute any founder covered on the podcast and you'll get a comprehensive and easy to read summary of their ideas) 

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    (1:30) Steve wanted Apple to make a product that was simply amazing and amazingly simple.

    (3:00) If you don’t zero in on your bureaucracy every so often, you will naturally build in layers. You never set out to add bureaucracy. You just get it. Period. Without even knowing it. So you always have to be looking to eliminate it.  — Sam Walton: Made In America by Sam Walton. (Founders #234)

    (5:00) Steve was always easy to understand. He would either approve a demo, or he would request to see something different next time. Whenever Steve reviewed a demo, he would say, often with highly detailed specificity, what he wanted to happen next.  — Creative Selection: Inside Apple's Design Process During the Golden Age of Steve Jobs by Ken Kocienda. (Founders #281)

    (7:00) Watch this video. Andy Miller tells GREAT Steve Jobs stories

    (10:00) Many are familiar with the re-emergence of Apple. They may not be as familiar with the fact that it has few, if any parallels.
    When did a founder ever return to the company from which he had been rudely rejected to engineer a turnaround as complete and spectacular as Apple's? While turnarounds are difficult in any circumstances they are doubly difficult in a technology company. It is not too much of a stretch to say that Steve founded Apple not once but twice. And the second time he was alone. 

    —  Return to the Little Kingdom: Steve Jobs and the Creation of Appleby Michael Moritz.

    (15:00) If the ultimate decision maker is involved every step of the way the quality of the work increases.

    (20:00) "You asked the question, What was your process like?' I kind of laugh because process is an organized way of doing things. I have to remind you, during the 'Walt Period' of designing Disneyland, we didn't have processes. We just did the work. Processes came later. All of these things had never been done before. Walt had gathered up all these people who had never designed a theme park, a Disneyland. So we're in the same boat at one time, and we figure out what to do and how to do it on the fly as we go along with it and not even discuss plans, timing, or anything. We just worked and Walt just walked around and had suggestions." — Disney's Land: Walt Disney and the Invention of the Amusement Park That Changed the World by Richard Snow. (Founders #347)

    (23:00) The further you get away from 1 the more complexity you invite in.

    (25:00) Your goal: A single idea expressed clearly.

    (26:00) Jony Ive: Steve was the most focused person I’ve met in my life

    (28:00) Editing your thinking is an act of service.

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    Can you give me a summary of Warren Buffett's best ideas? (Substitute any founder covered on the podcast and you'll get a comprehensive and easy to read summary of their ideas) 

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    Michael Jordan In His Own Words

    Michael Jordan In His Own Words

    What I learned from reading Driven From Within by Michael Jordan and Mark Vancil. 

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    Episode Outline: 

    Players who practice hard when no one is paying attention play well when everyone is watching.

    It's hard, but it's fair. I live by those words. 

    To this day, I don't enjoy working. I enjoy playing, and figuring out how to connect playing with business. To me, that's my niche. People talk about my work ethic as a player, but they don't understand. What appeared to be hard work to others was simply playing for me.

    You have to be uncompromised in your level of commitment to whatever you are doing, or it can disappear as fast as it appeared. 

    Look around, just about any person or entity achieving at a high level has the same focus. The morning after Tiger Woods rallied to beat Phil Mickelson at the Ford Championship in 2005, he was in the gym by 6:30 to work out. No lights. No cameras. No glitz or glamour. Uncompromised. 

    I knew going against the grain was just part of the process.

    The mind will play tricks on you. The mind was telling you that you couldn't go any further. The mind was telling you how much it hurt. The mind was telling you these things to keep you from reaching your goal. But you have to see past that, turn it all off if you are going to get where you want to be.

    I would wake up in the morning thinking: How am I going to attack today?

    I’m not so dominant that I can’t listen to creative ideas coming from other people. Successful people listen. Those who don’t listen, don’t survive long.

    In all honesty, I don't know what's ahead. If you ask me what I'm going to do in five years, I can't tell you. This moment? Now that's a different story. I know what I'm doing moment to moment, but I have no idea what's ahead. I'm so connected to this moment that I don't make assumptions about what might come next, because I don't want to lose touch with the present. Once you make assumptions about something that might happen, or might not happen, you start limiting the potential outcomes. 

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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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    Founders
    en-usMay 12, 2024

    #348 The Financial Genius Behind A Century of Wall Street Scandals: Ivar Kreuger

    #348 The Financial Genius Behind A Century of Wall Street Scandals: Ivar Kreuger

    What I learned from reading The Match King: Ivar Kreuger, The Financial Genius Behind a Century of Wall Street Scandals by Frank Partnoy. 

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    Episode Outline: 

    1. Ivar was charismatic. His charisma was not natural. Ivar spent hours every day just preparing to talk. He practiced his lines for hours like great actors do.

    2. Ivar’s first pitch was simple, easy to understand, and legitimate: By investing in Swedish Match, Americans could earn profits from a monopoly abroad.

    3. Joseph Duveen noticed that Europe had plenty of art and America had plenty of money, and his entire astonishing career was the product of that simple observation. — The Days of Duveen by S.N. Behrman.  (Founders #339 Joseph Duveen: Robber Baron Art Dealer)

    4. Ivar studied Rockefeller and Carnegie: Ivar's plan was to limit competition and increase profits by securing a monopoly on match sales throughout the world, mimicking the nineteenth century oil, sugar, and steel trusts.

    5. When investors were manic, they would purchase just about anything. But during the panic that inevitably followed mania, the opposite was true. No one would buy.

    6. The problem isn’t getting rich. The problem is staying sane. — Charlie Munger

    7. Ivar understood human psychology. If something is limited and hard to get to that increases desire. This works for both products (like a Ferrari) and people (celebrities). Ivar was becoming a business celebrity.

    8.  I’ve never believed in risking what my family and friends have and need in order to pursue what they don't have and don't need. — The Essays of Warren Buffett by Warren Buffett and Lawrence Cunningham. (Founders #227)

    9. Great ideas are simple ideas: Ivar hooked Durant with his simple, brilliant idea: government loans in exchange for match monopolies.

    10. Ivar wrote to his parents, "I cannot believe that I am intended to spend my life making money for second-rate people. I shall bring American methods back home. Wait and see - I shall do great things. I'm bursting with ideas. I am only wondering which to carry out first."

    11. Ivar’s network of companies was far too complex for anyone to understand: It was like a corporate family tree from hell, and it extended into obscurity.

    12. “Victory in our industry is spelled survival.”   —Steve Jobs

    13. Ivar's financial statements were sloppy and incomplete. Yet investors nevertheless clamored to buy his securities.

    14. As more cash flowed in the questions went away. This is why Ponzi like schemes can last so long. People don’t want to believe. They don’t want the cash to stop.

    15. A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market by Ed Thorp. (Founders #222)

    16.  A summary of Charlie Munger on incentives:

    1. We all underestimate the power of incentives.
    2. Never, ever think about anything else before the power of incentives.
    3. The most important rule: get the incentives right.

    17. This is nuts! Fake phones and hired actors!

    Next to the desk was a table with three telephones. The middle phone was a dummy, a non-working phone that Ivar could cause to ring by stepping on a button under the desk. That button was a way to speed the exit of talkative visitors who were staying too long. Ivar also used the middle phone to impress his supporters. When Percy Rockefeller visited Ivar pretended to receive calls from various European government officials, including Mussolini and Stalin. That evening, Ivar threw a lavish party and introduced Rockefeller to numerous "ambassadors" from various countries, who actually were movie extras he had hired for the night.

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    #347 How Walt Disney Built His Greatest Creation: Disneyland

    #347 How Walt Disney Built His Greatest Creation: Disneyland

    What I learned from reading Disney's Land: Walt Disney and the Invention of the Amusement Park That Changed the World by Richard Snow. 

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    (8:00) When in 1955 we heard that Disney had opened an amusement park under his own name, it appeared certain that we could not look forward to anything new from Mr. Disney.

    We were quite wrong.

    He had, instead, created his masterpiece.

    (13:00) This may be the greatest product launch of all time: He had run eight months of his television program. He hadn't named his new show Walt Disney Presents or The Wonderful World of Walt Disney.

    It was called simply Disneyland, and every weekly episode was an advertisement for the still unborn park.

    (15:00) Disneyland is the extension of the powerful personality of one man.

    (15:00) The creation of Disneyland was Walt Disney’s personal taste in physical form.

    (24:00) How strange that the boss would just drop it. Walt doesn’t give up. So he must have something else in mind.

    (26:00) Their mediocrity is my opportunity. It is an opportunity because there is so much room for improvement.

    (36:00) Roy Disney never lost his calm understanding that the company's prosperity rested not on the rock of conventional business practices, but on the churning, extravagant, perfectionist imagination of his younger brother.

    (41:00) Walt Disney’s decision to not relinquish his TV rights to United Artists was made in 1936. This decision paid dividends 20 years later. Hold on. Technology -- developed by other people -- constantly benefited Disney's business. Many such cases in the history of entrepreneurship.

    (43:00) Walt Disney did not look around. He looked in. He looked in to his personal taste and built a business that was authentic to himself.

    (54:00) "You asked the question, What was your process like?' I kind of laugh because process is an organized way of doing things. I have to remind you, during the 'Walt Period' of designing Disneyland, we didn't have processes.

    We just did the work. Processes came later. All of these things had never been done before.

    Walt had gathered up all these people who had never designed a theme park, a Disneyland.

    So we're in the same boat at one time, and we figure out what to do and how to do it on the fly as we go along with it and not even discuss plans, timing, or anything.

    We just worked and Walt just walked around and had suggestions."

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    Related Episodes

    I read 66 biographies last year— Here are my top 10!

    I read 66 biographies last year— Here are my top 10!

    Here are 10 episodes to start with: 

    #168 Driven: An Autobiography by Larry Miller

    #171 The Billionaire Who Wasn't: How Chuck Feeney Secretly Made and Gave Away a Fortune

    #219 Anthony Bourdain: The Definitive Oral Biography

    #223 Unstoppable: Siggi Wilzig's Astonishing Journey from Auschwitz Survivor and Penniless Immigrant to Wall Street Legend

    #216 Authentic: A Memoir by the Founder of Vans

    #212 Michael Jordan: The Life

    #210 Stephen King On Writing: A Memoir of the Craft

    #193 Arnold: The Education of a Bodybuilder

    #185 Ritz & Escoffier: The Hotelier, The Chef, and the Rise of the Leisure Class

    #170 My Life in Advertising

    #249 Steve Jobs In His Own Words

    #249 Steve Jobs In His Own Words

    What I learned from reading I, Steve: Steve Jobs In His Own Words by George Beahm.

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    [1:05]

    On Steve Jobs

    #5 Steve Jobs: The Biography
    #19 Becoming Steve Jobs: The Evolution of a Reckless Upstart into a Visionary Leader
    #76 Return To The Little Kingdom: Steve Jobs and The Creation of Apple
    #77 Steve Jobs & The NeXT Big Thing
    #204 Inside Steve Jobs' Brain
    #214 Steve Jobs: The Exclusive Biography
    #235 To Pixar And Beyond: My Unlikely Journey with Steve Jobs to Make Entertainment History

    Bonus Episodes on Steve Jobs

    Insanely Simple: The Obsession That Drives Apple's Success (Between #112 and #113)
    Creative Selection: Inside Apple's Design Process During the Golden Age of Steve Jobs (Between #110 and #111)

    On Jony Ive and Steve Jobs

    #178 Jony Ive: The Genius Behind Apple's Greatest Products

    On Ed Catmull and Steve Jobs

    #34 Creativity Inc: Overcoming The Unseen Forces That Stand In The Way of True Inspiration

    On Steve Jobs and several other technology company founders

    #157 The Innovators: How a Group of Hackers, Geniuses, and Geeks Created the Digital Revolution

    #208 In the Company of Giants: Candid Conversations With the Visionaries of the Digital World

    [3:13] We're not going to be the first to this party, but we're going to be the best.

    [4:54] Company Focus: We do no market research. We don't hire consultants. We just want to make great products.

    [5:06] The roots of Apple were to build computers for people, not for corporations. The world doesn't need another Dell or Compaq.

    [5:52] Nearly all the founders I’ve read about have a handful of ideas/principles that are important to them and they just repeat and pound away at them forever.

    [7:00] You can oftentimes arrive at some very elegant and simple solutions. Most people just don't put in the time or energy to get there.

    [8:09] I think of Founders as a tool for working professionals. And what that tool does is it gets ideas from the history of entrepreneurship into your brain so then you can use them in your work. It just so happens that a podcast is a great way to achieve that goal.

    [8:48] Tim Ferriss Podcast #596 with Ed Thorp

    [8:50] A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market by Ed Thorp. (Founders 222)

    [10:43] In most people's vocabularies, design means veneer. It's interior decorating. It's the fabric of the curtains and the sofa. But to me, nothing could be further from the meaning of design. Design is the fundamental soul of a man-made creation that ends up expressing itself in successive outer layers of the product or service.

    [12:05] The Essential Difference: The Lisa people wanted to do something great. And the Mac people want to do something insanely great. The difference shows.

    [14:21] Sure, what we do has to make commercial sense, but it's never the starting point. We start with the product and the user experience.

    [15:57] Becoming Steve Jobs: The Evolution of a Reckless Upstart into a Visionary Leader by Brent Schlender and Rick Tetzeli. (Founders #19)

    [16:41] We had a passion to do this one simple thing.

    [16:51] And that's really important because he's saying I wasn't trying to build the biggest company. I wasn't trying to build a trillion dollar company. It wasn't doing any of that. Those things happen later as a by-product of what I was actually focused on, which is just building the best computer that I wanted to use.

    [17:14] In the Company of Giants: Candid Conversations With the Visionaries of the Digital World by Rama Dev Jager and Rafael Ortiz.  (Founders #208 )

    [17:41] It comes down to trying to expose yourself to the best things that humans have done and then try to bring those things in to what you're doing. Picasso had a saying: good artists copy, great artists steal. And we have always been shameless about stealing great ideas.

    [20:29] Our belief was that if we kept putting great products in front of customers, they would continue to open their wallets.

    [21:06]  A Mind at Play: How Claude Shannon Invented the Information Age by Jimmy Soni and Rob Goodman (Founders #95) “A very small percentage of the population produces the greatest proportion of the important ideas. There are some people if you shoot one idea into the brain, you will get half an idea out. There are other people who are beyond this point at which they produce two ideas for each idea sent in.”

    [22:29] Edwin land episodes:

    Insisting On The Impossible: The Life of Edwin Land and Instant: The Story of Polaroid (Founders #40)

    The Instant Image: Edwin Land and The Polaroid Experience by Mark Olshaker. (Founders #132)

    Land’s Polaroid: A Company and The Man Who Invented It by Peter C. Wensberg. (Founders #133)

    A Triumph of Genius: Edwin Land, Polaroid, and the Kodak Patent War by Ronald K. Fierstein. (Founders #134)

    [25:01] Macintosh was basically this relatively small company in Cupertino, California, taking on the goliath, IBM, and saying "Wait a minute, your way is wrong. This is not the way we want computers to go. This is not the legacy we want to leave. This is not what we want our kids to be learning. This is wrong and we are going to show you the right way to do it and here it is and it is so much better.

    [27:47] Jony Ive: The Genius Behind Apple's Greatest Productsby Leander Kahney. (
    (Founders #178)

    [29:00] Enzo Ferrari: Power, Politics, and the Making of an Automobile Empire by Luca Dal Monte (Founders #98)

    [34:39] On meeting his wife, Laurene: I was in the parking lot, with the key in the car, and I thought to myself: If this is my last night on earth, would I rather spend it at a business meeting or with this woman? I ran across the parking lot, asked her if she'd have dinner with me. She said yes, we walked into town, and we've been together ever since.

    [37:26] It's not about pop culture, and it's not about fooling people, and it's not about convincing people that they want something they don't. We figure out what we want. And I think we're pretty good at having the right discipline to think through whether a lot of other people are going to want it, too. That's what we get paid to do.

    [41:29] Constellation Software Inc. President's Letters by Mark Leonard. (Founders #246)

    [42:30] Made in Japan: Akio Morita and Sony by Akio Morita. (Founders #102)

    [44:36] Victory in our industry is spelled survival.

    [45:21] Once you get into the problem you see that it's complicated, and you come up with all these convoluted solutions. That's where most people stop, and the solutions tend to work for a while. But the really great person will keep going, find the underlying problem, and come up with an elegant solution that works on every level.

    [48:15] Churchill by Paul Johnson (Founders #225)

    [48:25] I would trade all my technology for an afternoon with Socrates.

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    #132 Edwin Land (Steve Jobs's Hero)

    #132 Edwin Land (Steve Jobs's Hero)

    What I learned from reading The Instant Image: Edwin Land and the Polaroid Experience by Mark Olshaker. 

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    [1:42] The word “problem” had completely departed from Edwin land's vocabulary to be replaced by the word “opportunity”. 

    [2:01] What was it about this man and his company that allowed such confidence and seeming lack of concern with the traditional top priorities of American business? 

    [2:38] There is something unique about Polaroid having to do both with the human dimension of the company, and with a unity of vision of its founder and guiding genius.  

    [3:36] Perhaps the single most important aspect of Land's character is his ability to regard things around him in a new and totally different way.  

    [4:14] Right from the beginning of his career Land had paid scant attention to what experts had to say, trusting his own instincts instead.  

    [4:49] Land has always believed that for any item sufficiently ingenious and intriguing, a new market could be created. Conventional wisdom has little capacity with which to evaluate a market that did not exist prior to the product that defines it. 

    [5:21] He feels that creativity is an individual thing. Not generally applicable to group generation. 

    [5:52] Land is a man deeply caught up in the creative potential of the individual. 

    [6:33] An institution is the lengthened shadow of one man. 

    [7:43] Apple founder Steve Jobs once hailed Edwin Land, the founder of Polaroid and the father of instant photography, as "a national treasure" and once confessed to a reporter that meeting Land was "like visiting a shrine." By his own admission, Jobs modeled much of his own career after Land’s. Both Jobs and Land stand out today as unique and towering figures in the history of technology. Neither had a college degree, but both built highly successful and innovative organizations. Jobs and Land were both perfectionists with an almost fanatic attentiveness to detail, in addition to being consummate showmen and instinctive marketers. In many ways, Edwin Land was the original Steve Jobs.  

    [8:36] There's a rule that they don't teach you at the Harvard business school. It is, if anything is worth doing it's worth doing to excess

    [11:22] Steve Jobs: I always thought of myself as a humanities person as a kid, but I liked electronics. Then I read something that one of my heroes, Edwin Land of Polaroid, said about the importance of people who could stand at the intersection of humanities and sciences. And I decided that's what I wanted to do.  

    [12:51] In a world full of cooks, Edwin Land was a chef. [Link to The Cook and The Chef: Elon Musk’s Secret Sauce]  

    [19:34] Land was asked what he wanted to be when he was younger: I had two goals. To be the world's greatest scientist and to be the world's greatest novelist. 

    [21:28] Everyone acknowledged that the future of Polaroid corporation would be determined by what went on in the brain of Edwin Land. 

    [22:01] My motto is very personal and may not fit anyone else or any other company. It is: Don't do anything that someone else can do.  

    [22:54] Fortunately our company has been one which has been dedicated throughout its life to making only things which others can not make.  

    [25:06] Land had far more faith in his own potential, and that of the company he inspired, than did any of the experts looking in from the outside.  

    [27:30] Polaroid failed to build a successful company by selling to other businesses: Each [product] would have involved millions of dollars in revenue for the company, but each invention involved a certain degree of transformation of an existing industry controlled by an existing power structure. From this Land realizes he needs to control the relationship with the customer. He realizes he needs to sell directly to the end user

    [36:16] Edwin Land is inspired by, and learned from, people that came before him. One example of this is Alexander Graham Bell. Edwin Land is not worried about the marketing [of a new product] because Bell went through the same thing: Land apparently lost little sleep over the initial situation, calling to mind that the same sort of reaction had greeted the public introduction of Bell's telephone, 70 years earlier. The telephone had been a dominant symbol in Land's thinking. He began making numerous connections between his camera and the telephone.  

    [40:16] Over the years, I have learned that every significant invention has several characteristics. By definition it must be startling, unexpected, and must come into a world that is not prepared for it. If the world were prepared for it, it would not be much of an invention.  

    [40:46] It is the public's role to resist [a new invention, a new product/service]. 

    [41:29] It took us a lifetime to understand that if we're to make a new commodity —a commodity of beauty —then we must be prepared for the extensive teaching program needed to prepare society for the magnitude of our invention

    [45:12] Only the individual— and not the large group— can see a part of the world in a totally new and different way.  

    [48:08] Land's view is that a company should be scientifically daring and financially conservative. 

    [50:30] To understand more about every aspect of light, Edwin Land read every single book on light that was available in the New York City Public Library. That reminded me of one of my favorite lectures ever: Running Down A Dream: How to Succeed and Thrive in a Career You Love

    [51:59] Land on the problem with formal education: Young people for the most part —unless they are geniuses— after a very short time in college, give up any hope of being individually great. 

    [54:16] Among all the components and Land's intellectual arsenal, the chief one seems to be simple concentration.  

    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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    #149 The Big Rich (Oil Billionaires)

    #149 The Big Rich (Oil Billionaires)

    What I learned from reading The Big Rich: The Rise and Fall of the Greatest Texas Oil Fortunes by Bryan Burrough.

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    [3:12] There's truth behind legend. There really were poor Texas boys who discovered gushing oil wells and became overnight billionaires, patriarchs of squabbling families who owned private islands and colossal mansions and championship football teams, who slept with movie stars and jousted with presidents and tried to corner and international market or two. 

    [9:55] Their success raised a tantalizing question. What if there really was another Spindletop out there, and what if it were discovered not by a large company but by a single Texan working alone? One well, one fortune, it was the stuff of myth, the Eldorado of Texas Oil, and as a new decade dawned, a hoard of young second-generation oilmen would begin trying to find it. 

    [14:53] He first headed to the Houston public library where he read every book he could find on the geology of oil. 

    [17:51] Let me get a shave and a bath. Tomorrow's another day he would tell her. 

    [19:35] This is a metaphor for a lot in life. Not just oil: The trouble with this business is that everybody expects to find oil on the surface. If it was up near the top, it wouldn't be any trick to it. You've got to drill deep for oil. 

    [25:45] What Clint lacked in physical appeal, he made up for with a mind that whirred like a Swiss timepiece. Headstrong and independent, disdainful of his father's stuffy ways, young Clint was Tom Sawyer with an abacus. 

    [32:21] “Daddy, you cheated me!” he exclaimed.“ “I did not,” his father said. “People will try to get at you any way they can, and you might as well learn now.” 

    [33:46] If that dunce can make so much money we’ll go too. 

    [42:07] H.L. Hunt was a strange man, a loner who lived deep inside his own peculiar mind, a self-educated thinker who was convinced —absolutely convinced— that he was possessed of talents that bordered on the superhuman. 

    [49:30] Great fortunes are built on great convictions. 

    [52:33] Hunt drilled wells like a madman. He worked from dawn till late in the evening seven days a week. Every cent he took in he plowed back into the search for more oil. 

    [58:50] The spigot of cash Texas oil opened in the early 1930s ranks among the greatest periods of wealth generated in American history. 

    [1:02:30] Sid Bass and his brothers had since achieved everything he hadn’t, that while the Basses were investing in Wall Street stocks and high tech startups, he had been snorting cocaine. 

    [1:10:30] A harking to the days when giants walked the oil fields, when men like Hunt and Clint and Sid and Roy helped build something unique in midcentury, Texas—an image and culture loud, boisterous, money-hungry and a bit silly, but proud and independent. 

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    #98 Enzo Ferrari (the making of an automobile empire)

    #98 Enzo Ferrari (the making of an automobile empire)

    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.

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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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