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    Robert Greene - Optimizing Your Reality - [Invest Like the Best, EP.379]

    enJune 25, 2024

    Podcast Summary

    • Human psyche and social rulesUnderstanding social rules can provide valuable insights into human behavior, allowing us to look beyond masks and received ideas to uncover the truth.

      Understanding the human psyche and reality lies at the core of Robert Greene's work. He encourages looking beyond masks and received ideas to uncover the truth. Greene's fascination with games and understanding the rules that govern social interactions stems from his childhood experiences, where he noticed the strange behavior of adults at parties. He believes that everything social has rules, and being aware of them can provide valuable insights into human behavior. In his books, Greene explores various aspects of reality, from power dynamics to mastery, always striving to get at the truth behind the masks we wear. His latest project involves writing about the concept of the Daemon, or our inner selves, and the masks we wear in our social lives.

    • Masks and the sublimeFrom birth, we wear masks in social situations, limiting our ability to experience the sublime, a deeply weird and sublime experience beyond language. Robert Greene wrote about power to expose manipulations and games in social situations.

      From the moment of birth, we are a part of nature without a mask or personality. However, as we enter the social realm, we begin to lose touch with our essential selves and adopt masks to fit in. These masks become harder and more rigid as we age, limiting our ability to experience the sublime, which lies beyond social conventions. The sublime is a deeply weird and sublime experience that goes beyond language and requires us to be aware of the masks we wear and to seek out what lies beneath. Robert Greene's writing on power came from a place of frustration with the masks people wear in social situations, particularly in Hollywood, where he had experienced many manipulative and power-hungry individuals. He saw a need to write about the reality of power games and the importance of acknowledging and understanding the manipulations and games that people play.

    • Power and adaptabilityAdaptability and the ability to recreate ourselves, along with strategic use of 'always say less than necessary' and 'court attention at all costs', can help maintain power and influence in social situations

      Power is a complex and elusive concept that involves having a degree of control over events and appearances in social situations. It's a game of appearances and adaptability. People who can adapt and change with the times, like Tally Ronde, are considered powerful. Being aware of how others perceive and label us, and being able to recreate ourselves and switch up our performances, can help us avoid being pigeonholed and maintain our power. Two laws that can aid in this are "always say less than necessary" and "court attention at all costs." By speaking less and making others curious, and seeking attention in strategic ways, we can maintain an air of mystery and control. Power is a social construct, and those who can master its intricacies hold significant influence.

    • Rules of power in business and social mediaCrush enemies totally in business and never isolate yourself in social interactions remain significant power laws, with tech companies and social media emphasizing the importance of bold action and compelling spectacles

      The rules of power, as outlined in Robert Greene's book, continue to be relevant in today's world, with some adjustments for the social media era. Two key laws that have remained significant are "crush your enemy totally" in business and "never isolate yourself" in social interactions. An example of the former is the competitive strategy of tech companies like Google and Microsoft. An example of the latter is the importance of circulating and understanding the social landscape, as demonstrated in ancient China and emphasized by social media. Additionally, entering action with boldness and creating compelling spectacles have become even more relevant in the modern world, as seen in the deceptive tactics of con artists like Count Victor Lustig. Overall, the laws of power continue to shape human behavior and strategy, whether in business, politics, or social media.

    • Effectiveness of deception sizeBold deceptions are more effective than small lies due to the perceived distortion in smaller deceits. Mastery, not seduction, is the ultimate goal where one internalizes their subject and becomes one with it.

      Bold deceptions are more effective than small lies due to the perceived distortion in smaller deceits. Robert Greene, in his exploration of power, believes that acknowledging our dark side and recognizing our ethical complexities is essential for true virtue. He also emphasizes that seduction is a nonverbal language, and an AI, lacking a body and emotions, cannot master it. Mastery, according to Greene, is the ultimate goal, where one internalizes their subject or field and becomes one with it, thinking faster and intuitively. This state of mastery is achieved by climbing the steps of creativity and expertise.

    • Inside-out phenomenonRecognizing and embracing individuality is key to mastering skills and achieving greatness, despite societal pressures. Self-discovery involves introspection, journaling, and identifying what gives us energy.

      The power to master any skill or craft lies within each individual, and recognizing and embracing one's uniqueness is essential for achieving greatness. This concept, referred to as the "inside-out phenomenon," allows us to transcend the external world and tap into our innate abilities. The author encourages young people to look inward and understand their unique code, or DNA, as a form of mutation that exists for a purpose. By recognizing and nurturing our differences, we can uncover our life's task and harness our unique power. However, societal pressures and expectations can distract us from this path, making it crucial to reconnect with our authentic selves during adolescence and beyond. The process of self-discovery involves introspection, journaling, and identifying what gives us energy and what drains it. Ultimately, the key to unlocking our potential lies in embracing our individuality and staying true to ourselves.

    • Engagement and love for activity, masteryEngagement and love for an activity are essential for mental wellbeing and mastery. Repeating and practicing a skill for thousands of hours can lead to mastery, but it's important to submit to reality and put in the necessary work.

      Engagement and love for an activity are crucial for mental wellbeing and mastery. Jerry Seinfeld's philosophy emphasizes the importance of submitting to reality and putting in the necessary work to become great at something. The 10,000 hour rule, though debatable, highlights the role of repetition and practice in reaching mastery. Master observers of human nature, such as Jane Austen, have gained deep insights into human psychology due to their extensive socialization and observation skills. Milton Erickson, an icon for many, gained a unique understanding of nonverbal communication through his experience with polio, which led him to become a pioneer in hypnotherapy.

    • Nonverbal communicationUnderstanding nonverbal communication through observing people and the world around us can provide valuable insights and help us become more observant and less self-absorbed individuals.

      Observing the world around us and understanding nonverbal communication can provide valuable insights into people's thoughts, feelings, and behaviors. This unique power was demonstrated by a therapist who cured people not only through talking but also through observing their body language and actions. The best therapy, according to the speaker, is to get outside of ourselves and immerse ourselves in the external world, whether it's observing other people, animals, or even studying carpentry. This approach can help us master the outside world and become more observant, less self-absorbed individuals. Observing people like 50 Cent, who overcame adversity and rose to power, can also provide valuable lessons on charisma, confidence, and fearlessness. The kindest thing anyone has ever done for the speaker was when a Dutchman named Yoestuff believed in him and encouraged him to write a book, giving him the opportunity to turn his life around.

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    Mitch Rales: The Art of Compounding - [Art of Investing, Forever Episode]

    Mitch Rales: The Art of Compounding - [Art of Investing, Forever Episode]
    We are excited to share a great conversation with Mitch Rales, the co-founder of Danaher and one of the living legends in the world of business and investing. Consider that Danaher has annualized at over 21% for four decades, resulting in an 1800-times multiple on invested capital! This is Mitch's first long-form interview of any kind, and he covers his entire history and business philosophy. Interviewing Mitch are Paul Buser and Rick Buhrman, who host the Art of Investing podcast on the Colossus network. Please enjoy this comprehensive discussion with Mitch Rales. Listen to more Art of Investing. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Passthrough. If you've ever filled out a subscription document to invest in a fund or worked with LPs to fill out their docs to invest in your fund, you know what a nightmare this exercise can be. Passthrough finally solves this problem. They configure custom workflows for your electronic subscription agreements and KYC & AML requirements to shrink the time for your investors to complete their sub docs. It's the best way to manage a critical part of your relationship with your LPs and is simply a drastically better experience for both investing firms and LPs alike. To learn more, go to passthrough.com. This episode is brought to you by Tegus, the only investment research platform built for fundamental investors. Whether you’re trying to get up to speed on a new market or keep tabs on a portfolio company, Tegus is the end-to-end investment research platform you need. With Tegus, you can quickly understand a company's business model, drivers, benchmarks, and management quality. To monitor an entire market, download our pre-built financial models — or update your own with the latest data using Tegus’ new Excel Add-In. Tegus gives you all of this and more, all bundled into a single software license. Find out why 95% of the top 20 global private equity firms are Tegus customers. Learn more and get your free trial at tegus.com/patrick. ----- Art of Investing is a property of Pine Grove Studios in collaboration with Colossus, LLC. For more episodes of Art of Investing, visit joincolossus.com/episodes.  Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes (00:00:00) - Welcome to The Art of Investing (00:05:32) - The Philosophy Behind Glenstone's Creation (00:12:57) - Benchmarking and Continuous Improvement: Lessons from Danaher and Glenstone (00:21:22) - The Influence of Mitch’s Father and Upbringing (00:28:43) - Transforming Danaher During The George Sherman (00:30:39) - Embracing Long-Term Vision and Patience (00:36:47) - The Role of Leadership in Navigating Change (00:42:21) - Danaher's Evolutionary Journey: From 1.0 to 4.0 (00:56:37) - Building a Culture of Internal Growth and External Innovation (00:58:42) - The Art of Successful Acquisitions and Integration Strategies (01:03:03) - Seeking Leadership Qualities and Business Traits for Long-Term Success (01:06:14) - The Journey from Personal Experience to Philanthropy (01:13:10) - Investment Philosophy: Concentration vs. Diversification (01:29:46) - Operational Expertise as a Catalyst for Company Growth (01:34:17) - Identifying and Supporting Talent in Business (01:43:02) - The Impact of Secular Trends on Long-Term Investments (01:49:53) - Revitalizing the Washington Commanders (01:57:36) - Engaging with Fans and Building a Winning Culture (02:05:16) - The Importance of Long-Term Vision

    Marc Lasry - Making Bucks in Credit and Sports - [Invest Like the Best, EP.371]

    Marc Lasry - Making Bucks in Credit and Sports - [Invest Like the Best, EP.371]
    My guest this week is Marc Lasry. Marc is a pioneer of distressed debt investing and the CEO of Avenue Capital Group, which he co-founded with his sister in 1995. Avenue manages $13 billion today. More recently, Marc and Avenue have become active investors in sport. He owned the Milwaukee Bucks when they won the NBA championship in 2021, and has since made investments in sports as diverse as sailing and bull-riding. In our discussion, we talk about his journey building a big investing firm, the evolution of distressed investing, and the opportunities in sport today. Marc shares some great stories throughout about travelling with President Clinton, winning the NBA championship, and raising his first fund. Please enjoy this great conversation with Marc Lasry. Listen to Founders Podcast For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Tegus, the only investment research platform built for fundamental investors. Whether you’re trying to get up to speed on a new market or keep tabs on a portfolio company, Tegus is the end-to-end investment research platform you need. With Tegus, you can quickly understand a company's business model, drivers, benchmarks, and management quality. To monitor an entire market, download our pre-built financial models — or update your own with the latest data using Tegus’ new Excel Add-In. Tegus gives you all of this and more, all bundled into a single software license. Find out why 95% of the top 20 global private equity firms are Tegus customers. Learn more and get your free trial at tegus.com/patrick. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.  Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @patrick_oshag | @JoinColossus Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Invest Like The Best (00:03:40) Marc Lasry's Early Confidence and Competence (00:06:03) Distressed Credit Evolution and the Allure of Sports Investing (00:08:15) The Milwaukee Bucks: A Championship and Investment Success Story (00:14:54) Exploring New Frontiers: Bull Riding and Women's NCA (00:18:33) Venturing into Sailing with Larry Ellison's League (00:22:27) The Economics of Sports Team Ownership (00:25:19) The Vast Universe of Sports-Related Investment Opportunities (00:29:36) The Evolution of Distressed Investing (00:34:05 The Common Thread Through Marc’s Business Endeavors (00:40:24) Marc’s Most Memorable Investment (Not Including The Bucks) (00:43:40) The Dynamics of Working with Family in Business (00:45:32) Finding Happiness and Perspective Amid Financial Success (00:51:03) Diving into the World of NBA Owners (00:55:19) Exploring New Ventures: Sports, Real Estate, and Beyond (00:59:03) The Art of Deal-Making and Navigating Risks (01:06:10) The Kindest Thing Anyone Has Ever Done for Marc