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    #340 Michael Jordan and Kobe Bryant

    en-usMarch 01, 2024
    What is essential for achieving success according to the text?
    How do Michael Jordan and Kobe Bryant exemplify a dedicated mindset?
    What does Tim Grover's updated book 'Relentless' encourage readers to do?
    How can this mindset of relentless dedication affect team culture?
    What is the purpose of the new super search tool mentioned?

    Podcast Summary

    • Relentless pursuit of goals and belief in abilitiesSuccess requires dedication, belief in oneself, and a relentless pursuit of goals. Trust your instincts and don't wait for instructions.

      Success is not something that can be handed to us or instructed step-by-step. Instead, it requires a relentless dedication to one's goals and an unwavering belief in one's abilities. Michael Jordan and Kobe Bryant, both trained by Tim Grover, embodied this mentality. Despite setbacks and criticism, they continued to push forward and ultimately achieved greatness. As Mozart once said, "I didn't go around asking people how to do it." This idea of being relentless is not only applicable to athletes but also to individuals in all walks of life, such as Jeff Bezos, who has built an empire based on this principle. The updated version of Tim Grover's book, "Relentless," provides insight into the mindset of successful individuals and encourages readers to trust their instincts rather than waiting to be told what to do.

    • Michael Jordan and Kobe Bryant's unwavering commitment to excellenceSuccess requires dedication, self-responsibility, and pushing oneself and teammates to be the best.

      Success requires relentless dedication and a refusal to compromise one's standards. Michael Jordan and Kobe Bryant, two of the greatest basketball players of all time, embody this mindset. They expected to succeed, took responsibility for everything, and pushed themselves and their teammates to be the best. Their strategy was to make everyone else rise to their level, not the other way around. This unwavering commitment to excellence, combined with an unmatched genius for their craft, set them apart from their competitors. As Tim Grover, who trained both players, put it, "They're the most driven. They're the most competitive. There is no one in their industry like them." This mindset of taking responsibility for everything and holding everyone accountable is a powerful lesson for anyone striving for success.

    • Mental strength of Michael Jordan and Kobe BryantBoth Michael Jordan and Kobe Bryant's unwavering mental strength allowed them to overcome challenges and focus on their missions, leading to great success in their careers.

      Michael Jordan and Kobe Bryant's unwavering mental strength and ability to control their minds were crucial factors in their success. Both players faced significant challenges, including years of struggle and personal loss, but they refused to let their minds hold them back. Jordan's teammates were surprised by his emotional side after winning his first NBA title, and Bryant's fearlessness in pursuing his dreams despite the risk of failure became legendary. Their dedication to mental dominance allowed them to focus on their missions and stay present in the moment, ultimately leading them to greatness.

    • Mastering emotions and fundamentals for successControlling emotions, staying present, and mastering fundamentals are essential for success. Focusing on one area of expertise can lead to great results and demand.

      Controlling your emotions, staying present, and focusing on mastering the fundamentals are key to success. As illustrated in the stories of Michael Jordan and Kobe Bryant, the ability to control negative emotions and reframe them into positivity can fuel performance. Additionally, simplifying your focus and becoming an expert in one area can lead to great success and being in demand. The story of the elite sniper at the FBI training facility emphasizes the importance of mastering one craft and delivering exceptional results. By focusing on becoming the best in your field, you can build everything else around it.

    • Learning from the past and applying it to the presentMaster the fundamentals, never stop improving, learn from past experiences, and trust your intuition for success in any field.

      Both Michael Jordan and Kobe Bryant were exceptional athletes and entrepreneurs who attributed their success to a relentless focus on the basics, continuous learning, and trusting their intuition. They understood that the most effective way to excel in any field is to master the fundamentals and never stop improving. Michael's story of teaching Kobe the importance of focusing on the basics and learning from watching his games highlights the significance of learning from the past and applying it to the present. Furthermore, both Michael and Kobe recognized the power of trusting their intuition and seeking out challenges to push themselves beyond their limits. Their dedication to these principles ultimately led to their remarkable achievements in basketball and business.

    • Striving for self-improvement through relentless pressureEmbrace high standards, focus on self-growth, and inspire team excellence without resorting to abusive behavior.

      Holding yourself to a higher standard and applying relentless pressure to yourself can help you deal with external expectations and criticisms. This mindset, exemplified by figures like Michael Jordan and Kobe Bryant, allows you to remain indifferent to others' opinions and focus on self-improvement. It also creates a culture of excellence within teams and organizations, pushing everyone to reach new heights. However, it's important to remember that this mindset doesn't require a "dark side" or abusive behavior towards oneself or others. Instead, it's about setting high goals and striving to meet them with unwavering determination.

    • The power of strong and assertive teammatesStrong and assertive teammates can lead to trust, better team dynamics, and ultimately, success. Hire talented individuals, but manage them properly to avoid a toxic work environment.

      Having strong and assertive teammates or employees can be beneficial for both parties, even if they may not be as talented on paper. This was evident in Michael Jordan's NBA career, where his teammates respected his strength and stood up to him, ultimately leading to trust and better team dynamics. Similarly, legendary coaches like Bobby Knight and Rockefeller emphasized the importance of hiring talented individuals, regardless of current needs or positions. However, it's important to remember that elite performers may not fully understand their own talent and can be easily surrounded by less gifted colleagues if not managed properly. This can lead to a toxic work environment and potential loss of top performers. Ultimately, the capacity to take pain and push oneself to excellence is crucial in achieving success.

    • Unwavering commitment and hard work lead to great successLegendary figures Michael Jordan and Kobe Bryant rose to the top through dedication and self-belief, demonstrating that hard work and consistency are the foundations of success.

      Uncompromised commitment and relentless hard work are key to achieving great success. Michael Jordan and Kobe Bryant, two legendary figures in sports, are prime examples of individuals who pushed themselves beyond limits, often sacrificing personal comfort and time for their craft. Their focus and dedication to their respective sports were unwavering, as evidenced by their early morning workouts and consistent practice of fundamental skills. This uncompromising attitude, along with their self-trust and belief in their abilities, allowed them to rise above the competition and become icons in their fields. Ultimately, the idea that hard work and consistency are the foundations of success is a valuable lesson for anyone striving for greatness in any area of life.

    • The power of relentless dedication and competitive drive in achieving greatnessUnyielding focus and extreme competitive drive are essential for success and greatness, as demonstrated by Michael Jordan and Kobe Bryant's dedication to their craft and refusal to compromise their standards.

      Having an unyielding focus and an extreme competitive drive are key ingredients for success and greatness, as illustrated by the stories of Michael Jordan and Kobe Bryant. These individuals' relentless dedication to their craft and their unwillingness to compromise their standards set them apart from the norm and propelled them to the pinnacle of their respective fields. Michael Jordan's competitive nature extended beyond basketball, as shown in the story about him taking away his team's Jordan gear and dominating them during practice. Kobe Bryant's single-minded focus on excellence is exemplified by his countless hours spent in the gym and his refusal to let anything distract him from his goal of being the best. The stories from the books "Shooting Stars" and "The Winner Within" serve as powerful reminders that having a relentless drive and an unwavering commitment to excellence can lead to extraordinary achievements.

    • Legendary basketball players' competitive spiritMichael Jordan and Kobe Bryant's unwavering competitive nature inspires and motivates, with stories of dominance against NBA starters in their older years and responses to disrespect from younger players.

      The competitive drive and unyielding spirit of legendary basketball players like Michael Jordan and Kobe Bryant continue to inspire and motivate even in their older years. Stories of Jordan's dominance against NBA starters in his fifties and Bryant's response to disrespect from younger players like Ja Morant illustrate their unwavering competitive nature. This mentality, fueled by the desire to maintain dominance and intimidate opponents, is a common thread between Jordan and Bryant. Their legendary rivalry began with mutual respect and guidance, with Jordan providing advice to the young Bryant and Bryant embodying the same competitive spirit that Jordan had instilled in him. Despite the passing of time, their competitive spirit remains a source of motivation and engagement for both players.

    • Legendary athletes used mental tactics for an edgeMichael Jordan, Larry Bird, and Kobe Bryant used intense competitiveness, psychological warfare, and mental preparation to gain an edge over opponents.

      Michael Jordan and other legendary athletes like Larry Bird and Kobe Bryant were known for their intense competitiveness and psychological warfare during games. This was evident in various stories shared by former NBA player Eddie Johnson, who recounted Jordan's bets and trash talk aimed at intimidating opponents. In another instance, Larry Bird taunted a young Eddie Johnson during his second NBA game, trying to wear him out and challenging him to do impossible shots. These stories demonstrate how these athletes used mental tactics to gain an edge and intimidate their opponents, highlighting their unwavering determination and competitive spirit. Additionally, Jordan's belief in evaluating opponents and never giving them confidence further emphasizes the importance of mental preparation and focus in sports.

    • The importance of pushing oneself to new heightsWinning requires relentless focus, sacrifice, and a unique mentality to push past limits. Learn from athletes like Kobe Bryant and Michael Jordan.

      Winning is more than just a feeling of glory or euphoria. It requires relentless focus, sacrifice, and the ability to push oneself and others to be their best. Kobe Bryant and Michael Jordan, two of the greatest athletes in history, understood this and pushed themselves to new heights through their intense competitive drive. They didn't just want to win for themselves, but for their teammates and those around them. Tim Grover, who trained both athletes, emphasizes the importance of finding motivation from within and setting high standards for oneself. He also highlights the value of learning from the struggles and sacrifices of great athletes, rather than just their successes. Ultimately, the takeaway is that winning requires a unique mentality and a willingness to push past the limits, even when it's difficult or uncomfortable.

    • Michael Jordan and Kobe Bryant's Disciplined RoutinesHaving a disciplined routine reduces decisions, allows mental focus, and fosters self-belief for greatness in various fields.

      Having a disciplined routine can help reduce the number of decisions and allow for mental focus on important tasks. Michael Jordan's meticulous game day routine is an example of this, as he planned and organized every detail from his workout to his pre-game shoe lacing ritual. This routine allowed him the mental freedom to focus on the complexity of the game. Similarly, Kobe Bryant was also known for his relentless work ethic and insatiable desire for knowledge, modeling his routine after Jordan's in hopes of becoming a better player. Both Jordan and Bryant possessed an unshakable confidence in themselves, which helped them achieve greatness in their respective fields. The importance of self-belief and a disciplined routine can be applied to various aspects of life, including business and personal growth.

    • Leading by example and prioritizing work over personal feelingsIndividuals dedicated to excellence inspire others by prioritizing work over personal feelings and leading by example.

      Individuals who are dedicated to excellence and winning have a hard time tolerating those around them who don't share the same level of commitment. This doesn't mean being a dictator or insensitive to others, but rather leading by example and not asking others to do something that one wouldn't do themselves. The story of Steve Jobs and Jony Ive illustrates this mentality, where Jony was criticized for prioritizing the delivery of the message over the work's quality, leading Jony to realize that the work must always come first. Similarly, Michael Jordan's extreme dedication to excellence extended to those around him, and one couldn't "ride the fence" when working with him. Champions, as Bill Walsh said, behave like champions before they become champions. These individuals prioritize the work over personal feelings, and their commitment inspires those around them to do the same.

    • Michael Jordan's relentless pursuit of victorySuccessful individuals, like Michael Jordan, Kobe Bryant, and Steve Jobs, share a relentless commitment to their craft and refuse to compromise or settle for less than excellence.

      Michael Jordan was a relentless pursuer of victory and held himself and those around him to the highest standards. He demanded unwavering loyalty and expected everyone to keep up with his intensity and dedication. This mindset was evident in every aspect of his life, from his basketball career to his personal relationships. The story of him cutting up his teammates' shoes to ensure they wore Nike is just one example of his unapologetic extremism. This relentless drive to win, coupled with a focus on mastering the fundamentals, can be seen in other successful figures like Kobe Bryant and Steve Jobs. The common thread among these individuals is their unwavering commitment to their craft and their refusal to compromise or settle for less than excellence.

    • Rooted in focus, dedication, and commitmentEmbrace challenges, never allow complacency, and constantly reinvest in education and training to capture wins and enjoy success

      Both Michael Jordan and Kobe Bryant's success stories are rooted in their relentless focus, dedication to simplicity, and unwavering commitment to improvement. They never allowed complacency to set in and constantly reinvested in their education and training. Their mindset towards their physical and mental preparation was not a luxury but a necessity. Fear and self-doubt were not obstacles but challenges to be embraced. The biggest mistake, according to them, is thinking that we have time, and we should strive to capture our wins and enjoy them while we can. Their inspiring journeys started with hope and ignited a fire within, leaving a lasting impact on those who studied and learned from them.

    • Learning from the best founders through continuous access to their knowledgeSign up for Founders Notes to access a deep repository of knowledge from the host's highlights and notes since 2018, encouraging continuous learning.

      Importance of continuous learning and the value of having access to a deep repository of knowledge. The speaker, who is the host of the Founders Podcast, emphasizes that listening to the podcast and reading Founders Notes are like watching game tape of history's greatest founders. He considers Founders Notes a deeper version of the podcast since a significant amount of notes and highlights are not included in the podcast. The speaker also mentions his personal practice of rereading his notes and highlights daily, which he learned from founders like Michael Jordan, Kobe Bryant, and Jay Z, who all emphasized the importance of practice. The speaker encourages listeners to sign up for Founders Notes and access this searchable database of his highlights and notes since 2018. He also mentions that he's building a studio in a library and will eventually have video for all the episodes, and for the old episodes, he's matched up the audio with the transcript on YouTube. Overall, this discussion highlights the importance of continuous learning and having access to a deep repository of knowledge to draw on in any situation.

    • A platform for accessing notes and highlights from the Founders PodcastFounders Notes offers users access to the host's notes and highlights from the podcast, as well as search and discovery features, and a one-time payment option for all past and future content.

      Founders Notes, a platform created by the host of the Founders Podcast, David Heinemeier Hansson, aims to provide users with access to his notes and highlights from the podcast, as well as various features for easy search and discovery. The platform was born out of requests from listeners seeking a deeper connection to the content. Recently, Hansson also introduced a one-time payment option for access to all past and future notes and highlights, making it a valuable tool for users to tap into the collective knowledge of successful entrepreneurs throughout history. Hansson is continuously improving the platform with new features, including the ability to search every single transcript from every episode, making it an essential resource for anyone interested in entrepreneurship. Hansson's obsession with the platform stems from his belief that listening and learning from successful people is key to success, and Founders Notes provides an accessible and convenient way to do just that.

    • Creating a super search tool for effective learningThe founder is developing a semantic search tool to help users learn and retain information from books and episodes by making connections and summarizing key ideas, available for a one-time payment.

      The founder of this chatbot AI is creating a super search tool that goes beyond traditional search methods by making semantic connections and summarizing important information. He envisions this tool as a valuable resource for organizing and accessing key ideas across various books and episodes, allowing users to learn and retain information more effectively. The ultimate goal is to create an ever-growing curriculum of condensed and clarified knowledge from history's greatest founders. For a limited time, users can sign up for a one-time payment to access this tool throughout their careers.

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    Founders Notes gives you the superpower to learn from history's greatest entrepreneurs on demand. You can search all my notes and highlights from every book I've ever read for the podcast. Get access to Founders Notes here

    ----

    Join my free email newsletter to get my top 10 highlights from every book

    ----

    Follow Founders Podcast on YouTube (Video coming soon!) 

    ----

    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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    Get access to Founders Notes here

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    Build relationships with other founders, investors, and executives at a Founders Event

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    (3:01) No matter how mundane some action might appear, keep at it long enough and it becomes a contemplative, even meditative act.

    (4:00) Pain is inevitable. Suffering is optional.

    (4:00) The hurt part is an unavoidable reality, but whether or not you can stand anymore is up to the runner himself.

    (10:00) You can't fake passion — someone else, that really loves the job, will out run you. Somebody else sitting in some other MBA program has a deep passion for whatever career path you're going down, and they are going to smoke you if you don't have it yourself.  — Runnin' Down a Dream: How to Succeed and Thrive in a Career You Love 

    (12:00) What’s crucial is whether your writing attains the standards you’ve set for yourself. Failure to reach that bar is not something you can easily explain away.

    (14:00) Big ideas come from the unconscious. This is true in art, in science and in advertising. But your unconscious has to be well informed, or your idea will be irrelevant. Stuff your conscious mind with information, then unhook your rational thought process. You can help this process by going for a long walk, or taking a hot bath, or drinking half a pint of claret. Suddenly, if the telephone line from your unconscious is open, a big idea wells up within you.  — David Ogilvy

    (16:00) If you absolutely can't tolerate critics, then don't do anything new or interesting. — Jeff Bezos

    (16:00) So the fact that I’m me and no one else is one of my greatest assets.

    (19:00) Failure was not an option. I had to give it everything I had.

    (19:00) My only strength has always been the fact that I work hard and can take a lot physically. I’m more a workhorse than a racehorse.

    (22:00) I was more interested in having finished it than in whether or not it would ever see the light of day.

    (26:00) I’m the kind of person who has to totally commit to whatever I do.

    (29:00) The entrenched professional is always going to resist far longer than the private consumer. — James Dyson

    (34:00) You really need to prioritize in life, figuring out in what order you should divide up your time and energy. If you don’t get that sort of system set by a certain age, you’ll lack focus and your life will be out of balance. I placed the highest priority on the sort of life that lets me focus on writing,

    (37:00) You can’t please everybody. If one out of ten enjoyed the place and said he’d come again, that was enough. If one out of ten was a repeat customer, then the business would survive. To put it the other way, it didn’t matter if nine out of ten didn’t like my bar. This realization lifted a weight off my shoulders. Still, I had to make sure that the one person who did like the place really liked it. In order to make sure he did, I had to make my philosophy and stance clear-cut, and patiently maintain that stance no matter what. This is what I learned through running a business.

    (40:00) The reason we're surprised is that we underestimate the cumulative effect of work. Writing a page a day doesn't sound like much, but if you do it every day you'll write a book a year. That's the key: consistency. People who do great things don't get a lot done every day. They get something done, rather than nothing. — How To Do Great Work by Paul Graham. (Founders #314)

    (41:00) When you follow what you are intensely interested in this strange convergence happens where you're working all the time and it feels like you're never working. — How To Do Great Work by Paul Graham. (Founders #314)

    (43:00) No matter how strong a will a person has, no matter how much he may hate to lose, if it’s an activity he doesn’t really care for, he won’t keep it up for long.

    (44:00) Nobody ever recommended or even desired that I be a novelist—in fact, some tried to stop me. I had the idea to be one, and that’s what I did.

    (45:00) I decided who I want to be, and that is who I am. — Coco Chanel

    (46:00) Once, I interviewed an Olympic runner.  I asked him, “Does a runner at your level ever feel like you’d rather not run today, like you don’t want to run and would rather just sleep in?” He stared at me and then, in a voice that made it abundantly clear how stupid he thought the question was, replied, “Of course. All the time!”

    (47:00) I pity the poor fellow who is so soft and flabby that he must always have "an atmosphere of good feeling" around him before he can do his work. There are such men. And in the end, unless they obtain enough mental and moral hardiness to lift them out of their soft reliance on "feeling," they are failures. Not only are they business failures; they are character failures also; it is as if their bones never attained a sufficient degree of hardness to enable them to stand on their own feet. There is altogether too much reliance on good feeling in our business organizations. —  Henry Ford’s Autobiography

    (50:00) If I used being busy as an excuse not to run, I’d never run again.

    (51:00) Focus and endurance can be acquired and sharpened through training.

    (54:00) Exerting yourself to the fullest within your individual limits: that’s the essence of running, and a metaphor for life.

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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

    #356 How The Sun Rose On Silicon Valley: Bob Noyce (Founder of Intel)

    #356 How The Sun Rose On Silicon Valley: Bob Noyce (Founder of Intel)

    What I learned from reading The Tinkerings of Robert Noyce: How the Sun Rose on Silicon Valley by Tom Wolfe. 

    Read The Intel Trinity: How Robert Noyce, Gordon Moore, and Andy Grove Built the World's Most Important Company by Michael Malone with me. 

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    (1:00) America is today in the midst of a great technological revolution. With the advent of the silicon chip, information processing, and communications, the national economy have been strikingly altered. The new technology is changing how we live, how we work, how we think. The revolution didn't just happen; it was engineered by a small number of people. Collectively, they engineered Tomorrow. Foremost among them is Robert Noyce.

    (2:00) Steve Jobs on Robert Noyce: “He was one of the giants in this valley who provided the model and inspiration for everything we wanted to become. He was the ultimate inventor. The ultimate rebel. The ultimate entrepreneur.”

    (4:00) When you read biographies of people who've done great work, it's remarkable how much luck is involved. They discover what to work on as a result of a chance meeting, or by reading a book they happen to pick up. So you need to make yourself a big target for luck, and the way to do that is to be curious. Try lots of things, meet lots of people, read lots of books, ask lots of questions.  — How To Do Great Work by Paul Graham. (Founders #314)

    (7:00) Bob Noyce had a passion for the scientific grind.

    (10:00) He had a profound and baffling self-confidence.

    (15:00) They called Shockley’s personalty reverse charisma. —  Broken Genius: The Rise and Fall of William Shockley, Creator of the Electronic Age by Joel Shurkin. (Founders #165)

    (25:00) What the beginning of an industry looks like: Anywhere from 50 to 90% of the transistors produced would turn out to be defective.

    (33:00) Young engineers were giving themselves over to a new technology as if it were a religious mission.

    (41:00) Noyce's idea was that every employee should feel that he could go as far and as fast in this industry as his talent would take him. He didn't want any employee to look at the structure of Intel and see a complex set of hurdles.

    (43:00) This wasn't a corporation. It was a congregation.

    (43:00) There were sermons. At Intel everyone, Noyce included, was expected to attend sessions on "the Intel Culture." At these sessions the principles by which the company was run were spelled out and discussed.

    (45:00) If you're ambitious and hardworking, you want to be told how you're doing.

    (45:00) In Noyce's view, most of the young hotshots who were coming to work for Intel had never had the benefit of honest grades in their lives. In the late 1960s and early 1970s college faculties had been under pressure to give all students passing marks so they wouldn't have to go off to Vietnam, and they had caved in, until the entire grading system was meaningless. At Intel they would learn what measuring up meant.

    (49:00) When you are trying to convince an audience to accept a radical innovation, almost by definition the idea is so far from the status quo that many people simply cannot get their minds around it. They quickly discovered that the marketplace wasn’t just confused by the concept of the microprocessor, but was actually frightened by its implications. Many of my engineering friends scoffed at it was a gimmick. Their solution? The market had to be educated. At one point, Intel was conducting more seminars and workshops on how to use the microprocessor than the local junior collage’s total catalog of courses. Bob Noyce, Gordon Moore, and Andy Grove became part of a traveling educational roadshow. Everyone who could walk and talk became educators. It worked.  —  The Intel Trinity: How Robert Noyce, Gordon Moore, and Andy Grove Built the World's Most Important Company by Michael Malone. 

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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

    #355 Rare Bernard Arnault Interview

    #355 Rare Bernard Arnault Interview

    What I learned from reading The House of Arnault by Brad Stone and Angelina Rascouet. 

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    (3:00) While other politicians were content to get their information from a scattering of newspapers, he devoured whole shelves.  — Young Titan: The Making of Winston Churchill by Michael Shelden. (Founders #320)

    (7:00) Arnault had understood before anyone else that it was a true industry. — The Taste of Luxury: Bernard Arnault and the Moet-Hennessy Louis Vuitton Story by Nadege Forestier and Nazanine Ravai. (Founders #296)

    (9:00) Arnault is an iron fist in an iron glove. — The Taste of Luxury: Bernard Arnault and the Moet-Hennessy Louis Vuitton Story by Nadege Forestier and Nazanine Ravai.

    The public conception of Sam as a good ol’ country boy wearing a soft velvet glove misses the fact that there’s an iron fist within. —  Sam Walton: The Inside Story of America's Richest Man by Vance Trimble.

    (12:00) People often ask me, “When are you going to retire?” And I answer, “Retire from what?” I’ve never worked a day in my life. Everything I’ve done has been because I’ve loved doing it, because it was enthralling. — Am I Being Too Subtle?: Straight Talk From a Business Rebel by Sam Zell. (Founders #269)

    (16:00) “I am not interested in managing a clothing factory. What you need, and I would like to run, is a craftsman’s workshop, in which we would recruit the very best people in the trade, to reestablish in Paris a salon for the greatest luxury and the highest standards of workmanship. It will cost a great deal of money and entail much risk.” — Christian Dior to Marcel Boussac

    (17:00) Arnault believed that luxury brands could be larger than anyone at the time imagined.

    (20:00) Arnault said this 35 years ago: “My ten-year objective is that LVMH's leading position in the world be further strengthened in the luxury goods sector. I believe that there will be fewer and fewer brand names capable of retaining a worldwide presence and that those of our group will be among them as we will provide them with the means for growth.”

    (25:00) There are huge advantages for the early birds. When you're an early bird, there's a model that I call surfing—when a surfer gets up and catches the wave and just stays there, he can go a long, long time. But if he gets off the wave, he becomes mired in shallows. But people get long runs when they're right on the edge of the wave, whether it's Microsoft or Intel or all kinds of people, including National Cash Register. Surfing is a very powerful model.”  —  the NEW Poor Charlie's Almanack: The Wit and Wisdom of Charlie Munger. (Founders #329)

    (25:00) One thing I learned from having dinner with Charlie was the importance of getting into a great business and STAYING in it. There’s a tendency in human nature to mess up a good thing because of an inability to sit still.

    (25:00) The incredible career of Les Schwab: Les Schwab Pride In Performance: Keep It Going! by Les Schwab. (Founders #330)

    (30:00) Dior in his autobiography: It is widely, and quite erroneously, believed that when the house of Christian Dior was launched, enormous sums were spent on publicity: on the contrary in our first modest budget not a single penny was allotted to it. I trusted to the quality of my dresses to get Christian Dior talked about. Moreover, the relative secrecy in which I chose to work aroused a positive whispering campaign, which was excellent (free) propaganda. Gossip, malicious rumours even, are worth more than the most expensive publicity campaign in the world.

    (31:00) Munger: “There are actually businesses that you will find a few times in a lifetime, where any manager could raise the return enormously just by raising prices-and yet they haven't done it. So they have huge untapped pricing power that they're not using. That is the ultimate no-brainer. Disney found that it could raise those prices a lot and the attendance stayed right up. So a lot of the great record of Eisner and Wells came from just raising prices at Disneyland and Disneyworld and through video cassette sales of classic animated movies. At Berkshire Hathaway, Warren and I raised the prices of See's candy a little faster than others might have. And, of course, we invested in Coca-Cola-which had some untapped pricing power.”

    Charlie Munger: The Complete Investor by Tren Griffin

    (33:00) The benefits Arnault receives from owning commercial real estate: He makes money from his own stores, from leasing space to rivals—and from the appreciation of premium real estate. When LVMH buys a building, it takes the best storefronts for its own brands and often asks rivals to move out when their leases expire.

    (35:00) Arnault is all about details. He has 200,000 employees and he’s paying attention to details about landscaping in the Miami Design District.

    (36:00) If we lose the detail, we lose everything. — Disney's Land: Walt Disney and the Invention of the Amusement Park That Changed the World by Richard Snow. (Founders #347)

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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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    Out-work… DO THE WORK - Day 21

    Out-work… DO THE WORK - Day 21

    #21

    DO THE WORK PODCAST:

    A dailyish show focusing on the reality of being a dad, running multiple businesses and all of the organization, productivity, and lifehacking that is in place to make it all work.  The show will make you cry, laugh, like me, and hate me, but most importantly it will remind you to remember what is truly important in your life.

    Follow Me:

    Instagram: @DiegoFooter: http://bit.ly/2B3vprJ

    YouTube: Diego Footer: http://bit.ly/SubtoDiego

    Podcast: DO THE WORK: https://apple.co/2ERsLHZ

     

    Produced by podcaster, entrepreneur, and dad of three daughters - Diego Footer.

    Whatever You Focus On, Expands | Quick Minute

    Whatever You Focus On, Expands | Quick Minute

    When I first thought of the statement, whatever you focus on expands, it really was a game changer for me.  At times, I would focus on negative thoughts that would magnetize into massive bad moods.  For example, I would think about my cellulite on my legs and put all my focus on why it is there.  Now, I have changed my focus to feeling good about my workouts and feeling stronger each time I work my legs.  Every time a negative thought enters about my body, I do not even entertain it anymore, because it never got me anywhere, only brought sadness to me.  

    Why do we do this to ourselves?  I want you to think about your thoughts and what you are focusing on daily.  Are those thoughts creating positive patterns or negative ones?  It is up to you to make the changes needed right now so you can break free from any negativity you are holding on to.  

    Wherever your focus is at this very moment, is expanding so choose to focus on the good things life has for you and you will become a much happier person.  

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    Looking for new workouts with full workout videos to do with me?

    https://kelleytyan.com/4-week-sculpt-program/