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    • Understanding the origins of institutions shaping our world is crucialLearn from Van Bush's experiences during WW2 on managing R&D pipelines, building bridges, and driving ambitious programs to fruition. Relevant today for innovation and progress.

      Learning from "Pieces of the Action" by Vannevar Bush is that understanding the origins of institutions shaping our world, particularly those related to research, discoveries, inventions, and innovations, is crucial for anyone aiming to create enduring change. Bush, who was often called "Van," was instrumental in designing the innovation pipeline, where basic research leads to applied research and commercialization. His insights from his experiences during World War 2 in managing the R&D pipeline that led to breakthroughs like radar, proximity fuse, mass-produced penicillin, and the Manhattan Project, offer valuable lessons on operating within complex organizations, building bridges between people and disciplines, and driving ambitious programs to fruition. These lessons remain relevant today, making "Pieces of the Action" a must-read for those interested in innovation and progress.

    • Lessons from a Pivotal Figure in Science and Technology HistoryVannevar Bush's book 'Pieces of Action' offers timeless insights for leaders, technologists, and founders, as he shares his experiences during a time of unprecedented change and innovation, including the rise of diesel engines, airplanes, antibiotic drugs, space flight, the transistor, and ARPANET.

      Vannevar Bush, an 80-year-old genius and a pivotal figure in science and technology history, wrote a book called "Pieces of Action" that provides timeless lessons for leaders, technologists, and founders. Bush's life spanned a time when diesel engines, airplanes, antibiotic drugs, space flight, the transistor, integrated circuits, plumbing and electrical systems for most of the United States, email, and ARPANET went from non-existent to mainstream. Bush was instrumental in recognizing the potential of key figures like Claude Shannon, who would later make significant contributions to technology. Reading Bush's book offers an inside view into arguably some of the most effective people and processes in history, and his insights are still relevant today. Bush's life was defined by change, and the world in which he wrote "Pieces of Action" was unimaginable when he was born.

    • Vannevar Bush's Influence on Modern TechnologyVannevar Bush's ideas on on-screen graphics, multiple windows, digital publishing, and more significantly influenced the modern technology industry. His personality and belief in individuals continue to inspire generations.

      Vannevar Bush, though often overlooked, played a pivotal role in shaping the modern technology industry. His ideas, which include on-screen graphics, multiple windows, digital publishing, and more, have significantly influenced the world we live in today. Bush's effectiveness as a researcher and leader, as well as his optimism and belief in the power of individuals, continue to inspire generations. Bush's personality, described as relentlessly curious, shockingly cheeky, and quietly humble, adds to his enduring legacy. Despite the passing of time, Bush's ideas and impact remain relevant and continue to shape our technological landscape.

    • A personal and historical journey with Vannevar BushBush's memoir offers insights from 237 historical figures, stresses the importance of learning from history, and highlights the power of innovation and progress.

      That Van Bush's book is not only an intriguing autobiography but also a valuable resource filled with historical insights. Bush's personality shines through in his writing, and he references 237 historical figures with extensive footnotes for further context. The author emphasizes the importance of studying history to gain mentors and understanding the world's past challenges, which can help us navigate the present and future. Bush's observation that human nature repeats throughout history is a powerful reminder that we're not alone in our worries and struggles. Despite the skepticism he faced in his youth, he proved that innovation and progress are always possible, even in the shadow of giants. The book offers valuable lessons from Bush's unique life experience and serves as a testament to the power of learning from history.

    • The importance of learning from past generationsVannevar Bush emphasized the significance of education, understanding human nature, and personal relationships to achieve goals. He believed that man transmits experiences to future generations, while monkeys do not. Bush's personal relationship with FDR showcased this idea.

      The importance of education and the transmission of knowledge from one generation to the next. Vannevar Bush, the author of the book "Science: The Endless Frontier," emphasized this idea, quoting Judge Learned Hand that man remembers and transmits experiences to future generations, while monkeys do not. Bush believed that understanding human nature, discerning ways around obstacles, and realizing the interconnectedness of formal and personal relationships were crucial aspects of learning. He saw himself primarily as an engineer but recognized that building great inventions or organizations was not enough. Understanding the ways of men and cultivating personal relationships with those in power were essential to achieving goals. Bush's personal relationship with FDR, despite political differences, demonstrates this concept. Overall, Bush's book serves as a reminder that we should learn from the experiences of those who came before us and share our knowledge with future generations.

    • Embracing Challenges with DeterminationClear leadership, innovation, intelligence, and collective effort are crucial for overcoming challenges and achieving success.

      That according to Vannevar Bush, individual and collective strength, intelligence, and determination are essential for overcoming challenges and achieving success. Bush emphasizes the importance of clear lines of authority and strong leadership in organizations, using examples from history to illustrate the consequences of confusion and poor judgment. He encourages a pioneering spirit and a call to action, rather than optimism. Bush also emphasizes the importance of innovation and intelligence in overcoming predicted disasters throughout history. Overall, Bush's message is one of determination and the belief that challenges can be overcome through individual and collective effort.

    • Individuals driving progress in complex situationsEffective individuals contribute to progress by being formidable and building efficient organizations. Clear decision-making and prompt action are essential to keep teams focused and productive.

      Overcoming roadblocks in complex situations often requires the efforts of far-seeing and energetic individuals. This was exemplified during World War 2 when the US, underprepared for a highly technical war, relied on engineering, innovation, and science to win. Bush, in his memoirs, reflects on the role of individuals in driving progress, noting that the key ideas for the war effort came from specialized groups working diligently on the problems at hand. Effective individuals not only need to be formidable themselves but also build organizations that function efficiently. Bush's leadership style emphasized clear decision-making authority and the importance of prompt decision-making to keep teams focused and productive. Conversely, slow decision-making can push away talented individuals, as Jeff Bezos discovered in building Amazon.

    • Effective Leadership: Commitment, Navigation, and FlexibilityCommit to the work, navigate personal biases and obstacles, and foster innovation for effective leadership.

      Effective leadership involves giving your team a challenging task, allowing them to do their job, and providing support when needed. Bush's experience with FDR illustrates this concept, as he learned to put aside personal biases and focus on the importance of the work and his commitment to it. Another important aspect of leadership is finding ways to overcome obstacles and address personal quirks that may hinder progress. Bush's example of renaming engineers as scientists to gain respect and recognition from the military demonstrates this approach. Additionally, Bush's belief that rigid hierarchies do not foster innovation aligns with the leadership style of Steve Jobs at Apple. In summary, being an effective leader requires a deep commitment to the work, the ability to navigate personal biases and obstacles, and the flexibility to allow for innovation.

    • Challenging the status quo and synthesizing ideasIndividuals who challenge the status quo and combine separate developments and technologies can create innovative ideas that defy traditional hierarchies

      Innovative ideas often come from individuals who challenge the status quo and have a knack for synthesizing separate developments and technologies. Steve Jobs, as depicted in his biography, exemplified this trait by only paying attention to projects or technologies that showed real potential and then combining them with other ideas to create something new and unimaginable. This approach to innovation defied rigid lines of authority and was reminiscent of individuals like Putnam and Pulitzer, who were also known for their industriousness and disregard for traditional hierarchies. These individuals, despite being perceived as arrogant or vain, made significant contributions to their respective fields.

    • Understanding Different Types of People in OrganizationsEffectively managing an organization requires identifying and utilizing the strengths of tyros, amateurs, and professionals, while also controlling emotions and treating talented individuals fairly.

      Importance of understanding different types of people and their roles in an organization, particularly during times of complexity and pressure, like in a war effort. The author distinguishes between tyros, amateurs, and professionals. Tyros are free-wheeling individuals who can hinder progress due to their arrogance and ignorance. Amateurs are those who are new to a field but have the potential to learn and become professionals. Professionals are masters of their craft. To effectively run an organization, one needs intelligence, quick learning abilities, and good judgment of people. It's also important for leaders to control their emotions and not let them show, even when making mistakes. The author also emphasizes the need for fair treatment of talented individuals, using Robert Oppenheimer as an example of a brilliant man who was treated unfairly after the war.

    • Understanding the inventor's mindset and challengesBush emphasizes the importance of recognizing the unique perspective and satisfaction inventors gain beyond practical results, while also acknowledging the challenges they face in bringing new ideas to life, including resistance from established industries and financial constraints from smaller ones.

      According to Bush, the nature of inventors and inventions is not well understood, and the process of bringing a new idea into production and use can be difficult. Industrial progress depends on the creative ingenuity of individuals, but the challenges inventors face are often overlooked. Bush compares the process of inventing to poetry, requiring a unique perspective and satisfaction that goes beyond practical results. He shares his personal experience with Orville Wright, emphasizing the importance of sharing ideas with fellow inventors. Innovation often occurs outside of standardized industries, where major improvements are met with resistance from prosperous companies and financial constraints from borderline ones. Bush encourages the rise of small independent companies to ensure progress and overcome these obstacles. In essence, Bush's perspective highlights the importance of understanding the inventor's mindset and the challenges they face in bringing new ideas to life.

    • Industrial progress requires industrial pioneersSuccessfully bringing an invention to market requires more than just the invention itself, it needs promotion, financing, development, engineering, and marketing.

      An invention alone is not enough for success. According to Vannevar Bush, an inventor needs to be joined with other accomplishments such as promotion, financing, development, engineering, and marketing to bring value to their invention. Bush also emphasized the importance of courageous pioneers in industries, especially in young industries where there are more opportunities for innovation. He shared an unconventional interview process he used at AMRAD, where he hired a young physicist by presenting him with a technical problem to solve. Bush also highlighted the role of unsung heroes in bringing inventions to market, using the example of Alexander Graham Bell and the telephone. In summary, Bush's message is that industrial progress requires industrial pioneers, and both the famous and the unsung should be celebrated for their contributions.

    • Recognizing Unsung Heroes and Embracing CriticismEmbrace criticism and continuous learning to achieve great success. Unsung heroes, like quiet workers and industrial pioneers, significantly contribute to commercial progress.

      Recognition and respect should be given to unsung heroes in society, such as quiet workers and industrial pioneers, who contribute significantly to commercial progress. Criticism is an inevitable part of the inventing and company building process, and one should not shy away from it. Edwin Land, an ingenious and wise inventor, is a prime example of how embracing criticism and continuous learning can lead to great achievements. The patent system plays a crucial role in allowing companies to monopolize their inventions and benefit the country. Bush encourages readers to learn from Edwin Land's story and apply his lessons to their own lives. The book, "Business Adventures," is worth reading, even if not in chronological order, and Edwin Land's chapter is particularly valuable.

    • Recognizing the value of the next generationEncouraging inventors and understanding the invention process fosters successful innovations. Recognize and make way for the next generation's success.

      Importance of encouraging inventors and inventions, particularly for entrepreneurs and those who fund new ventures. Van Buskirk emphasizes the need for better understanding of the invention process by legislators, the court, and the public to foster successful inventions. He also shares a personal story of stepping aside when younger, more knowledgeable individuals surpassed him in a field of study, drawing a parallel to PT Barnum's decision to partner instead of competing with younger circus entrepreneurs. The common thread is recognizing the value of the next generation and making way for their success.

    • Bush reflects on the importance of collaboration, learning, and resilience throughout lifeBush emphasizes the value of collaboration, learning from younger generations, hobbies, teaching, and resilience in the aging process. He shares a personal anecdote about his father's influence as a great teacher and highlights the intangible art of teaching.

      Bush values collaboration and learning from younger generations, while also emphasizing the importance of hobbies and teaching in the aging process. He reflects on the complexity of modern life and the role of great teachers in shaping our perspectives. Bush shares a personal anecdote about his own father's influence as a teacher, emphasizing the intangible art of teaching that cannot be easily taught or learned through techniques alone. The passage also highlights the importance of resilience and determination in the face of adversity, as demonstrated by the community's efforts to build a church despite obstacles. Overall, Bush's perspective emphasizes the importance of collaboration, learning, and resilience throughout one's life.

    • The Power of Personal Connection in TeachingGreat teachers inspire students through genuine personal interest and inspiration, balancing formal education with informal relationships.

      Great teachers leave a lasting impression on their students through genuine personal interest and inspiration. Vann's experiences with his father and a professorial idol shaped his perspective on education and the importance of passing knowledge from one generation to the next. These teachers demonstrated the power of transmitting ideas and values that inspire emulation. The ability to balance formal education with informal relationships is crucial for students' success in both social structures and personal life. Ultimately, being a great teacher goes beyond technique and requires a deep, subtle understanding of human connection and inspiration.

    • Effective Tools for Continuous LearningUtilize apps like Readwise for better reading retention, and continuously learn through reading books. Consider trying Stripe Press for book recommendations and Readwise's 60-day free trial.

      Importance of continuous learning and the use of effective tools to enhance the reading and retention process. The speaker has read 270 books so far and aims to read 1,000 more. He recommends checking out the books available on Stripe Press and using the app Readwise to save highlights and notes. Readwise offers a 60-day free trial, making it an excellent option for those interested in improving their reading and retention. The speaker highly recommends the app and considers it the best one he pays for. This approach to learning and utilizing resources effectively can lead to significant personal and professional growth.

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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.

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    "Learning from history is a form of leverage." — Charlie Munger. Founders Notes gives you the superpower to learn from history's greatest entrepreneurs on demand.

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    You can also ask SAGE any question and SAGE will read all my notes, highlights, and every transcript from every episode for you.

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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.

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    (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

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    (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

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    Learning from history is a form of leverage. —Charlie Munger. Founders Notes gives you the super power to learn from history's greatest entrepreneurs on demand.

    Get access to the World’s Most Valuable Notebook for Founders

    You can search all my notes and highlights from every book I've ever read for the podcast. 

    You can also ask SAGE any question and SAGE will read all my notes, highlights, and every transcript from every episode for you.

     A few questions I've asked SAGE recently: 

    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) 

    How did Edwin Land find new employees to hire? Any unusual sources to find talent?

    What are some strategies that Cornelius Vanderbilt used against his competitors?

    Get access to Founders Notes here

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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.

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    (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.

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    (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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    If you want me to speak at your company go 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

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

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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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    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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    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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    #346 How Walt Disney Built Himself

    #346 How Walt Disney Built Himself

    What I learned from rereading Walt Disney: The Triumph of the American Imagination by Neal Gabler. 

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    (2:00) Disney’s key traits were raw ingenuity combined with sadistic determination.

    (3:00) I had spent a lifetime with a frustrated, and often unemployed man, who hated anybody who was successful. 

    Francis Ford Coppola: A Filmmaker's Life by Michael Schumacher. (Founders #242)

    (6:00) Disney put excelence before any other consideration.

    (11:00) Maybe the most important thing anyone ever said to him: You’re crazy to be a professor she told Ted. What you really want to do is draw. Ted’s notebooks were always filled with these fabulous animals. So I set to work diverting him. Here was a man who could draw such pictures. He should earn a living doing that. 

    Becoming Dr. Seuss: Theodor Geisel and the Making of an American Imagination by Brian Jay Jones. (Founders #161)

    (14:00) A quote about Edwin Land that would apply to Walt Disney too:

    Land had learned early on that total engrossment was the best way for him to work. He strongly believed that this kind of concentrated focus could also produce extraordinary results for others. Late in his career, Land recalled that his “whole life has been spent trying to teach people that intense concentration for hour after hour can bring out in people resources they didn’t know they had.”  A Triumph of Genius: Edwin Land, Polaroid, and the Kodak Patent War by Ronald Fierstein. (Founders #134)

    (15:00) My parents objected strenuously, but I finally talked them into letting me join up as a Red Cross ambulance driver. I had to lie about my age, of course. 

    In my company was another fellow who had lied about his age to get in. He was regarded as a strange duck, because whenever we had time off and went out on the town to chase girls, he stayed in camp drawing pictures.

    His name was Walt Disney.

    Grinding It Out: The Making of McDonald's by Ray Kroc. (Founders #293)

    (20:00) Walt Disney had big dreams. He had outsized aspirations.

    (22:00) A quote from Edwin Land that would apply to Walt Disney too: 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.

    (24:00) Walt Disney seldom dabbled. Everyone who knew him remarked on his intensity; when something intrigued him, he focused himself entirely as if it were the only thing that mattered.

    (29:00) He had the drive and ambition of 10 million men.

    (29:00) I'm going to sit tight. I have the greatest opportunity I've ever had, and I'm in it for everything.

    (31:00) He seemed confident beyond any logical reason for him to be so. It appeared that nothing discouraged him.

    (31:00) You have to take the hard knocks with the good breaks in life.

    (32:00) Nothing wrong with my aim, just gotta change the target. — Jay Z

    (35:00) He sincerely wanted to be counted among the best in his craft.

    (43:00) He didn't want to just be another animation producer. He wanted to be the king of animation. Disney believed that quality was his only real advantage.

    (47:00) Walt Disney wanted domination. Domination that would make his position unassailable.

    (49:00) Disney was always trying to make something he could be proud of.

    (50:00) We have a habit of divine discontent with our performance. It is an antidote to smugness.

    Eternal Pursuit of Unhappiness: Being Very Good Is No Good,You Have to Be Very, Very, Very, Very, Very Good by David Ogilvy and Ogivly & Mather.  (Founders #343)

    (53:00) While it is easy, of course, for me to celebrate my doggedness now and say that it is all you need to succeed, the truth is that it demoralized me terribly. I would crawl into the house every night covered in dust after a long day, exhausted and depressed because that day's cyclone had not worked. There were times when I thought it would never work, that I would keep on making cyclone after cyclone, never going forwards, never going backwards, until I died.

    Against the Odds: An Autobiography by James Dyson (Founders #300)

    (56:00) He doesn't place a premium on collecting friends or socializing: "I don't believe in 50 friends. I believe in a smaller number. Nor do I care about society events. It's the most senseless use of time. When I do go out, from time to time, it's just to convince myself again that I'm not missing a lot."

    The Red Bull Story by Wolfgang Fürweger (Founders #333)

    (1:02:00) Steve was at the center of all the circles.

    He made all the important product decisions.

    From my standpoint, as an individual programmer, demoing to Steve was like visiting the Oracle of Delphi.

    The demo was my question. Steve's response was the answer.

    While the pronouncements from the Greek Oracle often came in the form of confusing riddles, that wasn't true with Steve.

    He 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.

    He was always trying to ensure the products were as intuitive and straightforward as possible, and he was willing to invest his own time, effort, and influence to see that they were.

    Through looking at demos, asking for specific changes, then reviewing the changed work again later on and giving a final approval before we could ship, Steve could make a product turn out like he wanted.

    Much like the Greek Oracle, Steve foretold the future.

    Creative Selection: Inside Apple's Design Process During the Golden Age of Steve Jobs by Ken Kocienda. (Founders #281)

    (1:07:00) He griped that when he hired veteran animators he had to “put up with their Goddamn poor working habits from doing cheap pictures.” He believed it was easier to start from scratch with young art students and indoctrinate them in the Disney system.

    (1:15:00) I don’t want to be relagated to the cartoon medium. We have worlds to conquer here.

    (1:17:00) Advice Henry Ford gave Walt Disney about selling his company: If you sell any of it you should sell all of it.

    (1:23:00) He kept a slogan pasted inside of his hat: You can’t top pigs with pigs. (A reminder that we have to keep blazing new trails.)

    (1:25:00) Disney’s Land: Walt Disney and the Invention of the Amusement Park That Changed the World by Richard Snow.

    (1:33:00) It is the detail. If we lose the detail, we lose it all.

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    Related Episodes

    #271 Vannevar Bush (Engineer of the American Century)

    #271 Vannevar Bush (Engineer of the American Century)

    What I learned from reading Endless Frontier: Vannevar Bush, Engineer of the American Century by G. Pascal Zachary.

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    [7:31] Acts of importance were the measure of his life and they are the reason that his life deserves study today.

    [8:10] Suspicious of big institutions Bush objected to the pernicious effects of an increasingly bureaucratic society and the potential for mass mediocrity.

    [8:20] He believed the individual was still of paramount importance.

    "The individual to me is everything," he wrote  "I would restrict him just as little as possible."

    He never lost his faith in the power of one.

    [8:57] Pieces of the Action by Vannevar Bush (Founders #270)

    [9:32] Dee Hock — founder of VISA episodes:

    One from Many: VISA and the Rise of Chaordic Organization by Dee Hock (Founders #260)

    Autobiography of a Restless Mind: Reflections on the Human Condition Volume 1and Autobiography of a Restless Mind: Reflections on the Human Condition Volume 2 by Dee Hock. (Founders #261)

    [9:55] Edwin Land episodes:

    Instant: The Story of Polaroid by Christopher Bonanos. (Founders #264)

    Land's Polaroid: A Company and the Man Who Invented It by Peter C. Wensberg (Founders #263)

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

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

    The Instant Image: Edwin Land and the Polaroid Experienceby Mark Olshaker (Founders #132)

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

    [10:00] Vannevar Bush and Edwin Land both had a profound belief in the individual capacity for greatness.

    [12:15] Bush came from an American line of can do engineers and tinkerers, a line beginning with Franklin, and including Eli Whitney, Alexander, Graham Bell, Thomas Edison, and the Wright Brothers

    The Autobiography of Benjamin Franklin by Benjamin Franklin. (Founders #62)

    Benjamin Franklin: An American Life by Walter Isaacson. (Founders #115)

    Franklin & Washington: The Founding Partnership by Edward Larson. (Founders #251)

    Reluctant Genius: The Passionate Life and Inventive Mind of Alexander Graham Bellby Charlotte Gray. (Founders #138)

    Edison: A Biography by Matthew Josephson. (Founders #268)

    The Wright Brothers by David McCullough. (Founders #239)

    [13:35] The Essential Writings of Vannevar Bush by Vannevar Bush and G. Pascal Zachary

    [16:30] My whole philosophy is very simple. If I have any doubt as to whether I am supposed to do a job or not, I do it, and if someone socks me, I lay off.

    [18:00] The Richest Woman in America: Hetty Green in the Gilded Age by Janet Wallach (Founders #103)

    [19:00] What Bush learned from reading old whaling logs I’m learning 120 years later reading biographies of founders.

    [19:45] Books by Sebastian Mallaby:

    The Power Law: Venture Capital and the Making of the New Future and More Money Than God: Hedge Funds and the Making of a New Elite

    [21:20] He admired men of action, despised rules, and felt that merit meant everything.

    [22:32] If something is going to take two years he wants to figure out how to do it in six months or a year. This kind of the mentality he applied to everything.

    [24:45] Becoming Steve Jobs: The Evolution of a Reckless Upstart into a Visionary Leader by Brent Schlender and Rick Tetzeli (Founders #265)

    [25:45] I lose my shit when thinking about how all these ideas connnect.

    [30:45] He remained susceptible to bouts of nervous tension throughout his prime years.

    [31:50] Advice he gave his sons: Justify the space you occupy.

    [32:30] Do not emulate the ostrich: For better or worse we are destined to live in a world devoted to modern science and engineering. If the road we are on is slippery, we cannot avoid a catastrophe by putting on the brakes, closing our eyes or taking our hands off the wheel. What is the sane attitude of a scientist or layman? Absence of wishful thinking. No emulation of the ostrich.

    [35:00] He insisted that discipline must be self applied or will be externally imposed.

    [33:36] He found romance in adversity and solace in hard work.

    [36:00] Vannevar Bush on Leonardo da Vinci and Ben Franklin

    [42:33]  It is being realized with a thud that the world is going to be ruled by those who know how, in the fullest sense, to apply science.

    [44:45] We want an inventive company rather than an orderly company.

    [45:38] Tolerate genius. There are very few men of genius. But we need all we can find. Almost without exception they are disagreeable. Don't destroy them. They lay golden eggs.  —Confessions of an Advertising Man by David Ogilvy. (Founders #89)

    [48:34] David Ogilvy episodes:

    The Unpublished David Ogilvy by David Ogilvy. (Founders #189)

    The King of Madison Avenue: David Ogilvy and the Making of Modern Advertisingby Kenneth Roman. (Founders #169)

    Confessions of an Advertising Man by David Ogilvy. (Founders #89)

    Ogilvy on Advertising by David Ogilvy. (Founders #82)

    [49:00] Bush’s personal motto: Don’t let the bastards get you down.

    [51:50] The General and the Genius: Groves and Oppenheimer—The Unlikely Partnership that Built the Atom Bomb by James Kunetka. (Founders #215)

    [55:15] The more resourceful entrepreneurs are the ones that are going to win.

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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

    #267 Thomas Edison

    #267 Thomas Edison

    What I learned from reading Edison: A Biography by Matthew Josephson.

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    Outline:  

    He had known how to gather interest, faith, and hope in the success of his projects.

    I think of this episode as part 5 in a 5 part series that started on episode 263:

    #263 Land's Polaroid: A Company and the Man Who Invented It by Peter C. Wensberg.

    #264 Instant: The Story of Polaroid by Christopher Bonanos. 

    #265 Becoming Steve Jobs: The Evolution of a Reckless Upstart into a Visionary Leader by Brent Schlender and Rick Tetzeli

    #266 My Life and Work by Henry Ford.

    Follow your natural drift. —Charlie Munger

    Warren Buffett: “Bill Gates Sr. posed the question to the table: What factor did people feel was the most important in getting to where they’d gotten in life? And I said, ‘Focus.’ And Bill said the same thing.” —Focus and Finding Your Favorite Problems by Frederik Gieschen

    Focus! A simple thing to say and a nearly impossible thing to do over the long term.

    We have a picture of the boy receiving blow after blow and learning that there was inexplicable cruelty and pain in this world.

    He is working from the time the sun rises till 10 or 11 at night. He is 11 years old.

    He reads the entire library. Every book. All of them.

    At this point in history the telegraph is the leading edge of communication technology in the world.

    My refuge was a Detroit public library. I started with the first book on the bottom shelf and went through the lot one by one. I did not read a few books. I read the library.

    Runnin' Down a Dream: How to Succeed and Thrive in a Career You Love by Bill Gurley

    Blake Robbins Notes on Runnin’ Down a Dream: How to Succeed and Thrive in a Career You Love

    Greatness isn't random. It is earned. If you're going to research something, this is your lucky day. Information is freely available on the internet — that's the good news. The bad news is that you now have zero excuse for not being the most knowledgeable in any subject you want because it's right there at your fingertips.

    Why his work on the telegraph was so important to everything that happened later in his life: The germs of many ideas and stratagems perfected by him in later years were implanted in his mind when he worked at the telegraph. He described this phase of his life afterward, his mind was in a tumult, besieged by all sorts of ideas and schemes. All the future potentialities of electricity obsessed him night and day. It was then that he dared to hope that he would become an inventor.

    Edison’s insane schedule: Though he had worked up to an early hour of the morning at the telegraph office, Edison began reading the Experimental Researches In Electricity (Faraday’s book) when he returned to his room at 4 A.M. and continued throughout the day that followed, so that he went back to his telegraph without having slept. He was filled with determination to learn all he could.

    All the Thomas Edison episodes:

    The Wizard of Menlo Park: How Thomas Alva Edison Invented The Modern World by Randall Stross (Founders #3)

    Empires of Light: Edison, Tesla, Westinghouse, and the Race to Electrify the World by Jill Jonnes. (Founders #83)

    The Vagabonds: The Story of Henry Ford and Thomas Edison's Ten-Year Road Tripby Jeff Guinn. (Founders #190)

    Having one's own shop, working on projects of one’s own choosing, making enough money today so one could do the same tomorrow: These were the modest goals of Thomas Edison when he struck out on his own as full-time inventor and manufacturer. The grand goal was nothing other than enjoying the autonomy of entrepreneur and forestalling a return to the servitude of employee. —The Wizard of Menlo Park: How Thomas Alva Edison Invented The Modern World by Randall Stross

    Dark Genius of Wall Street: The Misunderstood Life of Jay Gould, King of the Robber Barons by Edward J. Renehan Jr. (Founders #258)

    It's this idea where you can identify an opportunity because you have deep knowledge about one industry and you see that there is an industry developing  parallel to the industry that you know about. Jay Gould saw the importance of the telegraph industry in part because telegraph lines were laid next to railraod tracks.

    Edison describes the fights between the robber barons as strange financial warfare.

    You should build a company that you actually enjoy working in.

    Don’t make this mistake:

    John Ott who served under Edison for half a century, at the end of his life described the "sacrifices" some of Edison's old co-workers had made, and he commented on their reasons for so doing.

    "My children grew up without knowing their father," he said. "When I did get home at night, which was seldom, they were in bed."

    "Why did you do it?" he was asked.

    "Because Edison made your work interesting. He made me feel that I was making something with him. I wasn't just a workman. And then in those days, we all hoped to get rich with him.”

    Don’t try to sell a new technology to an exisiting monopoly. Western Union was a telegraphy monopoly: He approached Western union people with the idea of reproducing and recording the human voice, but they saw no conceivable use for it!

    Against The Odds: An Autobiography by James Dyson (Founders #200)

    Passion is infectious. No Better Time: The Brief, Remarkable Life of Danny Lewin, the Genius Who Transformed the Internet by Molly Knight Raskin. (Founders #24)

    For more detail on the War of the Currents listen to episode 83 Empires of Light: Edison, Tesla, Westinghouse, and the Race to Electrify the World by Jill Jonnes.

    From the book Empire of Light: And so it was that J. Pierpont, Morgan, whose house had been the first in New York to be wired for electricity by Edison but a decade earlier, now erased Edison's name out of corporate existence without even the courtesy of a telegram or a phone call to the great inventor.

    Edison biographer Matthew Josephson wrote, "To Morgan it made little difference so long as it all resulted in a big trustification for which he would be the banker."

    Edison had been, in the vocabulary of the times, Morganized.

    One of Thomas Edison’s favorite books: Toilers of The Sea by Victor Hugo

    “The trouble with other inventors is that they try a few things and quit. I never quit until I get what I want.” —Thomas Edison

    “Remember, nothing that's good works by itself. You've gotta make the damn thing work.” —Thomas Edison

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

    He (Steve Jobs) 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.

    He was always trying to ensure the products were as intuitive and straightforward as possible, and he was willing to invest his own time, effort, and influence to see that they were.

    Through looking at demos, asking for specific changes, then reviewing the changed work again later on and giving a final approval before we could ship, Steve could make a product turn out like he wanted.

    Creative Selection: Inside Apple's Design Process During the Golden Age of Steve Jobs by Ken Kocienda (Bonus episode between Founders #110 and #111)

    Charles Kettering is the 20th Century’s Ben Franklin. — Professional Amateur: The Biography of Charles Franklin Kettering by Thomas Boyd (Founders #125)

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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

    #239 The Wright Brothers

    #239 The Wright Brothers

    What I learned from rereading The Wright Brothers by David McCullough.

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    [3:40] Relentlessly Resourceful by Paul Graham

    [4:11] If I were running a startup, this would be the phrase I'd tape to the mirror. "Make something people want" is the destination, but "Be relentlessly resourceful" is how you get there.

    [5:35] Everybody engaged in complicated work needs colleagues. Just the discipline of having to put your thoughts in order with somebody else is a very useful thing. —Charlie Munger

    [6:44] No bird soars in a calm.

    [10:30] Neither ever chose to be anything other than himself.

    [11:36] Wilbur was a little bothered by what others might be thinking or saying.

    [11:46] What the two had in common above all was a unity of purpose and unyielding determination.

    [15:09] Every mind should be true to itself —should think, investigate and conclude for itself.

    [17:53] My Life in Advertising (Founders #170)

    [19:33] Overdrive: Bill Gates and the Race to Control Cyberspace (Founders #174)

    [19:39] Hard Drive: Bill Gates and the Making of the Microsoft Empire (Founders #140)

    [23:56] I wish to avail myself of all that is already known.

    [30:32] Like the inspiring lectures of a great professor, the book had opened his eyes and started him thinking in ways he never had.

    [34:29] In no way did any of this discourage or deter Wilbur and Orville Wright, any more than the fact that they had had no college education, no formal technical training, no experience working with anyone other than themselves, no friends in high places, no financial backers, no government subsidies, and little money of their own. Or the entirely real possibility that at some point, like Otto Lilienthal, they could be killed.

    [36:07] When once this idea has invaded the brain it possesses it exclusively.

    [38:23] I’ve never found anybody that didn’t want to help me if I asked them for help. I called up Bill Hewlett when I was 12 years old. He answered the phone himself. I told him I wanted to build a frequency counter. I asked if he had any spare parts I could have. He laughed. He gave me the parts. And he gave me a summer job at HP working on the assembly line putting together frequency counters. I have never found anyone who said no, or hung up the phone. I just ask. Most people never pick up the phone and call. And that is what separates the people who do things, versus the people who just dream about them. You have to act. —Steve Jobs

    [41:47] You wanted to start a company. You knew that it was going to be hard. What are you complaining for?

    [42:17] Jay Z: Decoded (Founders #238)

    [42:56] They had their whole heart and soul in what they were doing.

    [46:28] You should follow your energy.

    [53:49] The Wright brothers have blinders on mentality. They don't care what other people say. They just say I'm working at this. I don't care what other people think.

    [54:16] The brothers proceeded entirely on their own and in their own way.

    [58:21] This is the blueprint they are using: Test. Iterate. Test. Iterate. Work long hours. Concentrate and ignore the naysayers.

    [1:00:31] Wilbur was always ready to jump into an argument with both sleeves rolled up. He believed in a good scrap. He believed it brought out new ways of looking at things and helped round off corners.

    [1:00:57] Amazon Unbound: Jeff Bezos and the Invention of a Global Empire (Founders #180)

    [1:02:26] Pour gasoline on promising sparks.

    [1:04:14] It is very bad policy to ask one flying machine man, about the experiments of another, because every flying machine man thinks that his method is the correct one.

    [1:08:46] Stephen King On Writing: A Memoir of the Craft (Founders #210)

    [1:10:26] They were always thinking of the next thing to do. They didn't waste much time worrying about the past.

    [1:11:05] 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. — Driven From Within (Founders #213)

    [1:12:56] They would have to learn to accommodate themselves to the circumstances.

    [1:20:42] The best dividends on labor invested have invariably come from seeking more knowledge rather than more power.

    [1:27:37] He went his way always in his own way.

    [1:31:45] A man who works for the immediate present and its immediate rewards is nothing but a fool.

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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

    #263 Land's Polaroid: A Company and the Man Who Invented It

    #263 Land's Polaroid: A Company and the Man Who Invented It

    What I learned from rereading Land's Polaroid: A Company and the Man Who Invented It by Peter C. Wensberg.

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    [0:01] Why is Polaroid a nutty place? To start with, it’s run by a man who has more brains than anyone has a right to. He doesn’t believe anything until he’s discovered it and proved it for himself. Because of that, he never looks at things the way you and I do. He has no small talk. He has no preconceived notions. He starts from the beginning with everything. That’s why we have a camera that takes pictures and develops them right away.

    [1:33] More books on Edwin Land: 

    Insisting on The Impossible: The Life of Edwin Land by Victor McElheny 

    The Instant Image: Edwin Land and the Polaroid Experienceby Mark Olshaker 

    A Triumph of Genius: Edwin Land, Polaroid, and the Kodak Patent War by Ronald Fierstein 

    Instant: The Story of Polaroid by Chris Bonanos 

    [2:18] “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.” —  Steve Jobs: The Exclusive Biography by Walter Isaacson (Founders #214)

    [5:17] This guy started one of the great technology monopolies and ran it for 50 years.

    [7:35] He lived his life more intensely than the rest of us.

    [8:53] His interest in our reactions was minimal — polite, sometimes kind, but limited by the great drain of energy necessary to sustain his own part.

    [9:30] He never argued his ideas. If people didn’t believe in them, he ignored those people. —A Mind at Play: How Claude Shannon Invented the Information Age by Jimmy Soni and Rob Goodman  (Founders #95) 

    Loomis was not someone you could argue with. He would listen patiently to an opposing opinion. But his consideration was nothing more than that-an act of politeness on his part.” — Tuxedo Park: A Wall Street Tycoon and The Secret Palace of Science That Changed The Course of World War II by Jennet Conant (Founders #143)

    [11:40] Right before he introduces the most important product he ever makes — he is in a fight for his life. There's a good chance that Polaroid is going to be bankrupt.

    [14:29] The parallel to Steve Jobs is striking. Edwin Land —like jobs — had to turn around the company he founded before they ran out of money!

    [15:02] At 37 he had achieved everything to which he aspired except success.

    [15:32] Against The Odds: An Autobiography by James Dyson (Founders #200)

    [22:48] The heroes of your heroes become your heroes.

    [23:39] Bill Gates would later tell a friend he went to Harvard to learn from people smarter than he was —and left disappointed. —Hard Drive: Bill Gates and the Making of the Microsoft Empire by James Wallace and Jim Erickson (Founders #140)

    [27:22] The young hurl themselves into vast problems that have troubled the world's best thinkers, believing that they can find a solution. It is well that they should for, from time to time, one of them does. — Autobiography of a Restless Mind: Reflections on the Human Condition Volume 2 by Dee Hock. (Founders #261)

    [29:30] He concentrated ferociously on his quest.

    [29:43] We live in the age of infinite distraction.

    [30:03] My whole life has been spent trying to teach people that intense concentration for hour after hour can bring out in people resources they didn't know they had.

    [30:29] Among all the components and Land's intellectual arsenal, the chief one seems to be simple concentration. — The Instant Image: Edwin Land and The Polaroid Experience by Mark Olshaker. (Founders #132)

    [41:50] A Landian question took nothing for granted, accepted no common knowledge, tested the cliche, and treated conventional wisdom as an oxymoron.

    [42:44] A Triumph of Genius: Edwin Land, Polaroid, and the Kodak Patent War by Ronald Fierstein  (Founders #134)

    [48:33] They had no alternative but to succeed with the camera. Everyone left at Polaroid knew that at the present rate of decline the business, the company, and their jobs would not survive 1947.

    [55:45] Smith estimated that throughout the eighties he spent at least four hours a day reading. He found he relied quite heavily on his own vision, backed by assimilating information from many different disciplines all at once. “The common trait of people who supposedly have vision is that they spend a lot of time reading and gathering information, and then synthesize it until they come up with an idea." — Overnight Success: Federal Express and Frederick Smith, Its Renegade Creator by Vance Trimble (Founders #151)

    [59:05] If you’re not good, Jeff will chew you up and spit you out. And if you’re good, he will jump on your back and ride you into the ground. — The Everything Store: Jeff Bezos and the Age of Amazon by Brad Stone. (Founders #179) 

    [1:02:24] They were among the first of the park's attractions to be finished, but the pressure of time was already weighing on everyone. One day John Hench stopped by to check the progress on the coaches and had an idea, which he brought to his boss. "Why don't we just leave the leather straps off, Walt? The people are never going to appreciate all the close-up detail."

    Walt Disney treated Hench to a tart little lecture: "You're being a poor communicator. People are okay, don't you ever forget that. They will respond to it. They will appreciate it."

    Hench didn't argue. "We put the best darn leather straps on that stagecoach you've ever seen."

    Disney’s Land: Walt Disney and the Invention of the Amusement Park That Changed the World by Richard Snow. (Founders #158)

    [1:05:53] There is no such thing as group originality or group creativity or group perspicacity. I do believe wholeheartedly in the individual capacity for greatness. Profundity and originality are attributes of single, if not singular, minds.

    [1:10:32] There's nothing more refreshing than thinking for a few minutes with your eyes closed.

    [1:11:00] The present is the past biting into the future.

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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

    #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

    Be like Gareth. Buy a book. It's good for you. It's good for Founders. A list of all the books featured on Founders Podcast.