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    • From Dyslexic School Dropout to Billionaire BusinessmanPaul Orfala, the founder of Kinko's, shares his inspiring journey from being told he was dumb in school to building a multibillion-dollar business, offering valuable insights into his unconventional business strategies and unique ways of thinking.

      Learning from this podcast episode is the inspiring story of Paul Orfala, the dyslexic billionaire founder of Kinko's. The host wanted to republish this episode due to Paul's fascinating life journey from being told he was dumb in school to building a multibillion-dollar business. Additionally, the conversation between Paul and Patrick from Invest Like the Best is worth listening to, as it provides valuable insights into Paul's business strategies and unique ways of thinking. During their car ride, Paul demonstrated his unusual habits, such as not letting a black cat cross his path and buying millions of dollars worth of real estate in under an hour. The episode concludes with Paul's advice to never lose money, leaving the listener pondering the meaning behind his actions. Overall, this podcast episode offers a captivating look into the mind of a successful entrepreneur and the lessons we can learn from his unconventional methods.

    • From disadvantages to opportunities: The inspiring story of Kinko's founderEmbrace your unique qualities, turn weaknesses into strengths, and work closely with employees for business success

      Paul Orfala, the subject of the book, defied societal expectations and turned his perceived disadvantages into opportunities, leading to the creation of the wildly successful business, Kinko's. Orfala, described as an out-of-the-box thinker and a hurricane, faced numerous challenges in his early life, including learning disabilities and expulsions from schools. Despite these setbacks, he refused to believe he was a failure and instead focused on his strengths and passions. Orfala's story is not just one of business success but also of inspiration for those facing similar challenges, particularly children with learning disabilities. He emphasizes the importance of embracing one's unique qualities and turning perceived weaknesses into strengths. Throughout the book, Orfala shares stories of successful innovators and achievers who, like him, had deficits but went on to make significant contributions to society. His approach to management, which involves working closely with front-line employees and constantly being present, is also highlighted as a key factor in Kinko's success.

    • From a single Xerox machine to a business empireIdentify customer value, be persistent, believe in self, seek help, and have a supportive family background can lead to entrepreneurial success

      Paul Orfalea, the founder of Kinko's, built his business empire from a single Xerox copy machine by focusing on sales and marketing, learning from his entrepreneurial family, and believing in his own abilities despite personal flaws and setbacks. Orfalea's success story highlights the importance of identifying and providing value to customers, being persistent, and having a supportive family background. He also emphasizes the significance of self-belief and not relying on external criticism. Orfalea's life serves as an inspiration for anyone looking to start their own business, demonstrating that entrepreneurship is open to everyone and that personal setbacks do not define one's potential. Additionally, his experiences show the importance of seeking help when needed and the impact of a strong support system.

    • Stay true to yourself and focus on your strengthsIdentify your expertise, take feedback seriously, and maintain a positive attitude through challenges to build a successful business

      Importance of focusing on self-judgment and specialization in life. Paul Orfalea, the founder of Kinko's, faced numerous challenges and setbacks in his life but managed to overcome them by staying true to himself and focusing on his strengths. He emphasized the difference between being good at school and being good at life, and the value of practical knowledge and experience. Orfalea also highlighted the importance of fun and enjoyment in work, and the value of direct customer interaction in gaining valuable insights. Despite facing competition and adversity, he persevered and eventually built a successful business. The lesson here is to identify and focus on one area of expertise, take feedback from self and customers seriously, and maintain a positive attitude through challenges.

    • From dyslexia to entrepreneurial successOvercome personal barriers and focus on unique ideas, strong work ethic, and customer needs for entrepreneurial success.

      Determination and perseverance, even in the face of seemingly insurmountable barriers, can lead to great success. Paul Orfalea, the founder of Kinko's, was labeled as unemployable due to his dyslexia and struggled with various jobs before finding his calling. Inspired by the copy center at the University of Southern California during the trial of Charles Manson, he started his own business, selling a way to relieve anxiety and stress rather than just copies. Orfalea's success story serves as a reminder that one doesn't need a formal business plan or extensive knowledge to start a business. Instead, a unique idea, a strong work ethic, and the ability to understand and address the needs of customers can pave the way for entrepreneurial success. As James Dyson's autobiography emphasizes, people often put barriers in front of themselves, but with persistence and the willingness to learn, one can overcome these obstacles and create something remarkable.

    • Thinking before working: A game changerPrioritize thinking and strategy over getting bogged down in busy work to maximize impact.

      It's essential to think harder before working harder in business. The speaker emphasizes the importance of stepping back from the details and seeing the bigger picture. He shares his experience of delegating tedious tasks to others and focusing on marketing and creativity. He learned this lesson from observing his father's struggles and from Warren Buffett's advice not to underestimate the power of simple actions. The speaker's success with Kinko's, starting with handing out flyers on college campuses, demonstrates the potential impact of seemingly simple efforts. Overall, the key takeaway is to prioritize thinking and strategy over getting bogged down in busy work.

    • Lessons from a 'Chief Wanderer'Micromanaging as a business leader can hinder growth. Trust your team, focus on the long-term vision, and allow room for experimentation to drive success.

      Being accessible as a business leader can lead to micromanagement and hinder growth. Paul Orfalea, the founder of Kinko's, learned this lesson the hard way when he found himself constantly dealing with bounced checks and other operational issues that kept him from focusing on the bigger picture. Instead, he adopted the role of a "chief wanderer," spending time away from headquarters to observe and learn from his stores and competitors. This hands-off approach allowed for innovation and experimentation, resulting in the success of Kinko's unique organizational structure with over 100 individual partnerships. Overall, the lesson is to trust your team, stay focused on the long-term vision, and allow room for experimentation to drive growth.

    • Embrace continuous improvementEmpower coworkers, avoid past mistakes, seek perspective, and strive for betterment to achieve business success.

      Continuous improvement is essential for business success. Paul Orfalea, the founder of Kinko's, emphasized this idea when he shared how he didn't mandate every store to look the same because he wanted to leave room for improvement. He also highlighted the importance of avoiding past mistakes and seeking perspective through travel. Orfalea believed in empowering his coworkers and providing them with financial incentives, rather than employing traditional employees. His definition of management as removing obstacles aligns with this approach. Overall, the book offers practical insights gained from decades of trial and error, encouraging entrepreneurs to continually strive for betterment and avoid past pitfalls.

    • Profit-sharing with employees: A key to business successLes Schwab's profit-sharing structure fostered entrepreneurship, leading to a successful tire shop chain. Buffett and Munger praise his system, and his expansion strategies emphasize simplicity and disregard for geographic boundaries. Frugality and financial prudence are also crucial to his business philosophy.

      Creating a profit-sharing structure for employees can foster a sense of entrepreneurship and drive business success. This idea was exemplified by Les Schwab, who built a profitable tire shop chain by splitting profits with his employees. Buffett and Munger have praised Schwab's compensation system and encourage studying his autobiography, "Pride and Performance," for insights on shrewd business practices. Additionally, Schwab's approach to expansion, learned from board games, demonstrates the importance of not overcomplicating business growth and disregarding geographic boundaries. Furthermore, Schwab's emphasis on frugality and saving money aligns with the importance of financial prudence in business. Despite facing personal hardships, Schwab's resilience and business acumen serve as a reminder that challenges can be overcome and that simple, effective strategies can lead to prosperity.

    • Focus on the customer perspectivePrioritize customer needs and preferences, avoid hidden costs, and challenge unreasonable policies for long-term business success

      Providing excellent customer service is crucial for business success. Naval Ravikant, an influential thinker, emphasized that there's no such thing as a "business skill" but rather, everyone can learn to serve. The founders of Kinko's, for instance, had diverse backgrounds, yet they built a thriving business by focusing on the customer perspective. Ravikant believed that businesses should start by considering what's best for their customers and work backward. He also warned against creating an inhospitable climate for customers, as hidden costs of negative actions can outweigh the apparent savings. A memorable example of this was the removal of freebies like paper clips and pens, which customers loved, due to the belief that they were being stolen. The cost of such actions, both tangible and intangible, can be substantial, and businesses often fail to recognize this. Ravikant's maniacal focus on the customer perspective led him to challenge unreasonable policies and practices, such as the requirement to pay in cash at a hardware store, which ultimately led to lost business. By putting the customer first, businesses can create loyal customers and thrive in the long term.

    • Focusing on the customer experience leads to exceptional business performanceBuffett and Munger's 'informed applause' highlights the importance of serving customers and respecting those who do. O'Neill's customer-centric leadership at Alcoa led to a virtuoso performance, and Buffett's admiration for field workers underscores this principle. Effective communication and idea sharing also contribute to success.

      Exceptional business performance can be found in the ordinary, but it requires a discerning eye and a customer-centric approach. Warren Buffett and Charlie Munger's "informed applause" is a powerful reminder that the people serving customers are crucial to a company's success. Buffett's admiration for Paul O'Neill's leadership at Alcoa illustrates this principle. O'Neill's focus on improving the customer experience, even in seemingly insignificant ways, set the tone for a virtuoso performance. Buffett's respect for the people in the field, whether it's a banana plantation or a Kinko's store, is a common thread in his successful investments. Additionally, O'Neill's innovative use of voice mail to share ideas throughout the company demonstrates the importance of communication and idea sharing in any organization. Overall, this discussion emphasizes the importance of putting the customer first, respecting those who serve them, and fostering a culture of continuous improvement.

    • Embracing Customer Feedback for Business GrowthEffective entrepreneurs prioritize customer feedback, using it as valuable intelligence to improve their businesses. Simple tools like suggestion boxes can yield valuable insights, and maintaining a balance between work and enjoyment is essential.

      Effective entrepreneurs actively seek and value customer feedback, no matter the method or source. From Jeff Bezos' Amazon to Paul Orfalea's Kinko's, leaders have embraced customer suggestions as valuable intelligence to improve their businesses. These ideas, born from the experiences of entrepreneurs throughout history, can create a wave of knowledge that makes people more effective. Even simple tools like suggestion boxes can yield valuable insights. Moreover, maintaining a balance between taking the work seriously and enjoying life is essential for entrepreneurs. As Sam Walton said, "There's only one boss, and it's the customer," so it's crucial to prioritize their needs while keeping a sense of fun and professional pride. Ultimately, each entrepreneur's philosophy should be unique to them, and embracing that individuality can lead to successful and innovative businesses.

    • Understanding a business's problems and seeking solutionsBusiness owners with personal stakes are more invested in solving issues, knowing a company's imperfections is essential, successful leaders fight emotions, delegate work, and seek help when needed, facing fears leads to progress.

      Having a personal stake in a business makes business owners more invested in understanding its problems and seeking solutions, rather than ignoring them. Paul Orfalea, the founder of Kinko's, emphasized the importance of knowing the "dirt" inside a company and not being afraid of its imperfections. He believed that successful business leaders are not usually laid-back personalities and that victories over oneself are the most rewarding. Orfalea shared his own struggles with anger and how he learned to fight his emotions instead of letting them rule him. He also highlighted the importance of delegating work and not being a workaholic, and encouraged business owners to seek help when needed. Despite his motivational speeches, Orfala himself was running scared due to his significant personal liability, which he discovered was much greater than his net worth. However, he acknowledged that running scared was not conducive to making money and encouraged others to face their fears and keep moving forward.

    • Behind every successful persona lies a complex emotional journeySuccess often involves personal struggles and emotional turmoil, even for those who seem to have it all. Stand up to bullies and learn to tolerate genius, even if it comes with difficult personalities.

      Success often comes with personal struggles and challenges, even for those who seem to have it all. The speaker, Paul Orfalea, shares his experience of dealing with fear, emotional instability, and difficult relationships during his time building the Kinko's copying empire. Despite his immense wealth and success, he faced significant emotional turmoil, which he hid from outsiders. He discusses his battles with partners, including Paul, who could be abusive and unpredictable, and his disdain for bureaucracy and headquarters. Orfalea's passion fueled his success but also led to emotional outbursts and chaos. He encourages standing up to bullies and learning to tolerate genius, even if it comes with difficult personalities. This insight offers a reminder that behind every successful persona lies a complex and sometimes turbulent emotional journey.

    • The Power of Passion and DeterminationPaul's story shows how raw emotion, a unique perspective on wealth, and a focus on cash flow can lead to unexpected outcomes and financial stability.

      Passion and determination, even when expressed impulsively, can lead to unexpected outcomes. Paul, despite his volatile behavior towards the speaker, appreciated the raw emotion behind the message and forgave the mistake. Moreover, Paul's perspective on wealth and financial security resonated with his desire for independence and the ability to devote time to his hobbies and family. He saw wealth not as a source of immorality but as a means to achieve leisure and financial stability. Paul's business approach, focusing on cash flow and treating advertising as a manufacturing cost, also highlighted the importance of simplicity and avoiding corporate dyslexia. Ultimately, Paul's story demonstrates the power of passion, determination, and a unique perspective on business and wealth.

    • Lessons from Kinko's founder's advertising successEffective advertising can boost sales and grow businesses, but letting go of a successful venture can be emotionally challenging.

      Effective advertising can significantly grow a business, even if some people believe it doesn't work on them. Paul Orfalea, the founder of Kinko's, experienced this firsthand when they started advertising in California and saw a massive increase in sales. Orfalea preferred businesses with high margins, no inventory, and simple operations, which made the copy business an ideal fit. He also learned from his mother that it's best to keep a low profile during good times and not brag about successes. However, selling Kinko's to a venture capital firm and watching it being reorganized took a toll on him emotionally, despite the substantial financial gain. He regrets not leaving sooner and feels unable to visit Kinko's stores to this day. The experience was difficult for him to let go, despite his efforts to keep his personal and business lives separate. This story serves as a reminder that letting go of something we've invested significant time and energy into can be emotionally challenging.

    • Embrace new opportunities for happiness and purposeLearn from past experiences, keep asking questions, dreaming, and playing to find joy in new experiences and maintain a balanced, fulfilling life.

      Sometimes in life, we need to let go of the past and embrace new opportunities to find happiness and purpose. My friend John, who had health issues due to his former business, Kinko's, learned this lesson by starting an asset management company and repurposing himself. He defined success as having a strong family relationship and finding a business that doesn't cause excessive stress. John's journey reminds us to keep asking questions, dreaming, and playing, even as we face challenges and ambiguity. It's never too late to start over and find joy in new experiences. So, keep questioning, keep exploring, and keep striving for a balanced and fulfilling life.

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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.

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    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: 

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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

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

    (29:00) Marketing is theatre.

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

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

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

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    #349 How Steve Jobs Kept Things Simple

    #349 How Steve Jobs Kept Things Simple

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

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    (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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    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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    #343 The Eternal Pursuit of Unhappiness: David Ogilvy

    #343 The Eternal Pursuit of Unhappiness: David Ogilvy

    What I learned from reading 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. 

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    (0:01) But what did David actually mean by divine discontent? Here's an interpretation:

    DON'T BOW YOUR HEAD.

    DON'T KNOW YOUR PLACE.

    DEFY THE GODS.

    DON'T SIT BACK.

    DON'T GIVE IN.

    DON'T GIVE UP.

    DON'T WIN SILVERS.

    DON'T BE SO EASILY HAPPY WITH YOURSELF.

    DON'T BE SPINELESS.

    DON'T BE GUTLESS.

    DON'T BE TOADIES.

    DON'T GO GENTLE INTO THAT GOOD NIGHT.

    AND DON'T EVER, EVER ALLOW A SINGLE SCRAP OF RUBBISH OUT OF THE AGENCY

    (5:00) We have to work equally hard to replace the old patterns of self-defeating behaviors. An old Latin proverb tells us how: a nail is driven out by a nail, habit is overcome by habit.

    (7:00) Brilliant thinking is rare, but courage is in even shorter supply than genius. — Zero to One: Notes on Startups, or How to Build the Future by Peter Thiel. (Founders #278)

    (7:00) Fear is a demon that devours the soul of a company: it diminishes the quality of our imagination, it dulls our appetite for adventure, it sucks away our youth. Fear leads to self-doubt, which is the worst enemy of creativity.

    (10:00) Trust is one of the greatest economic forces on earth. —  The NEW Poor Charlie's Almanack: The Wit and Wisdom of Charlie Munger. (Founders #329)

    (13:00) How great we become depends on the size of our dreams. Let's dream humongous dreams, put on our overalls, go out there and build them.

    (14:00) If you asked an oracle the secret to doing great work and the oracle replied with a single word my bet would be on “curiosity” — How To Do Great Work by Paul Graham. (Founders #314)

    (17:00) Only dead fish go with the flow.

    (18:00) If I have to choose between agreement and conflict, I’ll take conflict every time. It always yields a better result. — Jeff Bezos

    (20:00) It's the cracked ones that let light into the world.

    (20:00)

    Rule #1. There are no rules.
    Rule #2. Never forget rule #1.

    (21:00) Bureaucracy has no place in an ideas company.

    (23:00) You see, those who live by their wits go to work on roller coasters. The ride is exhilarating, but one has to have a stomach of titanium. For starters, you're never a hundred per cent certain you'll ever get there. If you (even) get to your destination, you sometimes wonder why you've ever bothered.

    Other times the scenery pleasantly surprises you.

    (24:00) Discovery consists of seeing what everyone has seen and thinking what nobody has thought.

    (25:00) God is with those who persevere.

    (25:00) Dogged determination is often the only trait that separates a moderately creative person from a highly creative one.

    That's because great work is never done by temperamental geniuses, but by obstinate donkey-men.

    (26:00) Against the Odds: An Autobiography by James Dyson (Founders #300)

    (26:00) We are what we repeatedly do. Our character is a composite of our habits. Habits constantly, daily, express who we really are.

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    #255 Sam Zemurray (Banana King)

    #255 Sam Zemurray (Banana King)

    What I learned from rereading The Fish That Ate the Whale: The Life and Times of America's Banana King by Rich Cohen.

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    [0:47] This story can shock and infuriate us, and it does. But I found it invigorating, too. It told me that the life of the nation was written not only by speech-making grandees in funny hats but also by street-corner boys, immigrant strivers, crazed and driven, some with one good idea, some with thousands, willing to go to the ends of the earth to make their vision real.

    [4:56] Tycoon's War: How Cornelius Vanderbilt Invaded a Country to Overthrow America's Most Famous Military Adventurer by Stephen Dando-Collins (Founders #55)

    [6:00] Unlike Vanderbilt's other adversaries William Walker was not afraid of Cornelius when he should have been.

    [8:21] The immigrants of that era could not afford to be children.

    [8:42] The Adventures of Herbie Cohen: World's Greatest Negotiator by Rich Cohen

    [8:54] He was driven by the same raw energy that has always attracted the most ambitious to America, then pushed them to the head of the crowd. Grasper, climber-nasty ways of describing this kid, who wants what you take for granted. From his first months in America, he was scheming, looking for a way to get ahead. You did not need to be a Rockefeller to know the basics of the dream: Start at the bottom, fight your way to the top.

    [10:01] There is no problem you can't solve if you understand your business from A to Z.

    [13:08]  Sam spotted an opportunity where others saw nothing.

    [14:17] As far as he was concerned, ripes were considered trash only because Boston Fruit and similar firms were too slow-footed to cover ground. It was a calculation based on arrogance. I can be fast where others have been slow. I can hustle where others have been satisfied with the easy pickings of the trade.

    [14:42] The kid on the streets is getting a shot at a dream. He sees the guy who gets rich and thinks, yep, that'll be me. He ignores the other stories going around.  // There's no way to quantify all that on a spreadsheet, but it's that dream of being the exception, the one who gets rich and gets out before he gets got that's the key to a hustler's motivation. Decoded by Jay Z. (Founders #238)

    [22:36] He was pure hustle.

    [24:15] Preston later spoke of Zemurray with admiration. He said the kid from Russia was closer in spirit to the banana pioneers than anyone else working. "He's a risk taker," Preston explained, “he's a thinker, and he's a doer.”

    [26:33] They don't write books about people that stopped there.

    [28:48] Titan: The Life of John D. Rockefeller by Ron Chernow (Founders #248) and John D: The Founding Father of the Rockefellers by David Freeman Hawke. (#254)

    [30:22] He seemed to strive for the sake of striving.

    [30:44] If you're on a mans side you stay on that mans side or you're no better than a goddamn animal.

    [31:11] The world is a mere succession of fortunes made and lost, lessons learned and forgotten and learned again.

    [35:41] A man whose commitment could not be questioned, who fed his own brothers to the jungle.

    [36:00] The Forgotten Highlander: An Incredible WWII Story of Survival in the Pacificby Alistair Urquhart.

    [37:02] Why the Founders of United Fruit were the Rockefellers of bananas.

    [43:23] He kept quiet because talking only drives up the price.

    [44:19] There are times when certain cards sit unclaimed in the common pile, when certain properties become available that will never be available again. A good businessman feels these moments like a fall in the barometric pressure. A great businessman is dumb enough to act on them even when he cannot afford to.

    [49:30] He believed in the transcendent power of physical labor—that a man can free his soul only by exhausting his body.

    [58:04] He disdained bureaucracy and hated paperwork. So seldom did he dictate a letter that he requires no full-time secretary.

    [1:00:01] He was respected because he understood the trade. By the time he was 40 he had served in every position. There was not a job he could not do nor a task he could not accomplish. He considered it a secret of his success.

    [1:01:02] Rick Rubin: In the Studio by Jake Brown. (Founders #245)

    [1:04:00] Zemurray was the founder, forever on the attack, at work, in progress, growing by trial and error.

    [1:06:44] Here was a self-made man, filled with the most dangerous kind of confidence: he had done it before and believed he could do it again. This gave him the air of a berserker, who says, If you're going to fight me, you better kill me. If you’ve ever known such a person, you will recognize the type at once. If he does not say much, it's because he considers small talk a weakness. Wars are not won by running your mouth. I'm describing a once essential American type that has largely vanished. Men who channeled all their love and fear into the business, the factory, the plantation, the shop.

    [1:07:44] Founder Mentality vs Big Company Mentality: When this mess of deeds came to light, United Fruit did what big bureaucracy-heavy companies always do: hired lawyers and investigators to search every file for the identity of the true owner. This took months. In the meantime, Zemurray, meeting separately with each claimant, simply bought the land from them both. He bought it twice paid a little more, yes, but if you factor in the cost of all those lawyers, probably still spent less than United Fruit and came away with the prize.

    [1:09:04] His philosophy: Get up first, work harder, get your hands in the dirt and blood in your eyes.

    [1:13:02] For every move there is a counter move. For every disaster there is a recovery. He never lost faith in his own agency.

    [1:13:57] A man focused on the near horizon of costs can sometimes lose sight of the far horizon of potential windfall.

    [1:16:22] You gentlemen have been fucking up this business long enough. I'm going to straighten it out.

    [1:19:03] In a time of crisis the mere evidence of activity can be enough to get things moving.

    [1:19:42] Zemurray was never heard to bitch or justify. He was a member of a generation that lived by the maxim: Never complain, never explain.

    [1:23:08] The Father of Spin: Edward L. Bernays and the Birth of Public Relations by Larry Tye

    [1:24:14] He should link his private interest to a public cause.

    [1:25:32] In almost every act of our daily lives, whether in the sphere of politics or business, in our social conduct or our ethical thinking, we are dominated by the relatively small number of persons who understand the mental processes and social patterns of the masses, who harness old social forces and contrive new ways to bind and guide the world.

    [1:28:28] Sam's defining characteristic was his belief in his own agency, his refusal to despair. No story is without the possibility of redemption; with cleverness and hustle, the worst can be overcome. I can't help but feel that we would do well by emulating Sam Zemurray–not the brutality or the conquest, but the righteous anger that sent the striver into the boardroom of laughing elites, waving his proxies, shouting, "You gentlemen have been fucking up this business long enough. I'm going to straighten it out.

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    — Gareth

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    #285 Jay Gould (How Jay Gould Built Wall Street's Biggest Fortune)

    #285 Jay Gould (How Jay Gould Built Wall Street's Biggest Fortune)

    What I learned from reading American Rascal: How Jay Gould Built Wall Street's Biggest Fortune by Greg Steinmetz.

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    [0:01] A series of spectacular financial triumphs had made Gould fabulously rich. At age thirty-six, he was the most notorious businessman in the country.

    [1:00] Vanderbilt told a newspaper that Gould was "the smartest man in America." Rockefeller, when asked who he thought had the best head for business, answered "Jay Gould" without pausing to think.

    They  recognized Gould as a master of his craft. No one disputed that he was an extraordinary problem solver, an unparalleled negotiator, an expert communicator, a lightning-fast thinker, and a masterful tactician with a staggering memory.

    [2:00] Railroads changed America in the nineteenth century much as automobiles changed the country in the twentieth century and the internet has changed the twenty first century.

    [5:00] American Rascal shows the complex and quirky character of the nineteenth century's greatest robber baron. He was at once praised for his brilliance by Rockefeller and Vanderbilt and condemned for forever destroying American business values by Mark Twain. He lived a colorful life, trading jokes with Thomas Edison, figuring in Thomas Nast's best sketches, paying Boss Tweed's bail, and commuting to work in a 200-foot yacht.

    [6:00] I consider this part two in a two part series on Jay Gould. Make sure you listen to part 1: Dark Genius of Wall Street: The Misunderstood Life of Jay Gould, King of the Robber Barons by Edward J. Renehan Jr. (Founders #258)

    [9:00] He read whatever he could get his hands on. Jay was often nowhere to be found. He was off hiding somewhere with his books.

    [10:00] He would wake up at three to study by firelight.

    [10:00] My Life and Work by Henry Ford. (Founders #266)

    [12:35] “As you know. I’m not in the habit of backing out of what I undertake, and I shall write night and day until it is completed.”

    [13:00] Relentless and self-confident: Gould toyed with the idea of college. He visited Rutgers, Yale, Harvard, and Brown. He concluded college was an expensive indulgence. Why bother with college when he could teach himself from books?

    [13:00] I am determined to use all my best energies to accomplish this life's highest possibilities.

    [22:00] The Almanack of Naval Ravikant: A Guide to Wealth and Happiness by Naval Ravikant and Eric Jorgenson. (Founders #191)

    [22:00] All I Want To Know Is Where I'm Going To Die So I'll Never Go There: Buffett & Munger – A Study in Simplicity and Uncommon, Common Sense by Peter Bevelin

    [26:00] Conspiracy: Peter Thiel, Hulk Hogan, Gawker, and the Anatomy of Intrigue by Ryan Holiday. (Founders #31)

    [30:00] The good ones know more. — Ogilvy on Advertising by David Ogilvy (Founders #82)

    [37:00] The story of how Gould seized Erie shows his brilliance as a financial strategist, his deep understanding of law, a surprising grasp of human nature, and a mastery of political reality.

    [41:00] Tycoon's War: How Cornelius Vanderbilt Invaded a Country to Overthrow America's Most Famous Military Adventurer by Stephen Dando-Collins (Founders #55)

    [42:00] There isn't any secret. I avoid bad luck by being patient. Whenever I'm obliged to get into a fight, I always wait and let the other fellow get tired first.

    [44:00] James J. Hill: Empire Builder of the Northwest by Michael P. Malone. (Founders #96)

    [52:00] Edison and Gould shared some traits. Both were born into poverty. Both thought about little beside their obsessions —inventions for Edison, money for Gould. Both worked all the time. Both had spent their childhoods reading anything that came their way.

    [53:00] Edison: A Biography by Matthew Josephson. (Founders #267)

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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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    #231 William Rosenberg (Founder of Dunkin Donuts)

    #231 William Rosenberg (Founder of Dunkin Donuts)

    What I learned from reading Time to Make the Donuts: The Founder of Dunkin Donuts Shares an American Journey by William Rosenberg.

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    [5:18] The Founders: The Story of Paypal and the Entrepreneurs Who Shaped Silicon Valley

    [5:30] A Mind at Play: How Claude Shannon Invented the Information Age (Founders #93)

    [10:28] When I opened my first Dunkin Donuts store I focused on making the first store a success. Then after I did that I could move on to the second and the third and the fourth, but I gave all my heart and my soul to making that first store a winner.

    [12:13] From an early age these working experiences taught me that if I put my mind to it and worked hard, I could do whatever I was doing as well or better than most other people. I learned to strive for excellence.

    [14:05] Odd as it may sound I think one of the best lessons I ever learned from my Dad is what he didn't do properly. He taught me what I never wanted to have happen to my family.

    [15:02] I decided I wanted to quit school, go to work and help support my family. I knew they desperately needed help. We didn't have enough money to live.

    [19:25]  I learned an important lesson about sales. You don't sell to people. You get people to buy from you. You say to yourself, if I were in their position why would I want to buy this product? If I was in their position why would it be to my benefit?

    [19:48] The Man Who Sold America: The Amazing (but True!) Story of Albert D. Lasker and the Creation of the Advertising Century (Founders #206)

    My Life in Advertising and Scientific Advertising (Founders #170)

    Ogilvy on Advertising (Founders #82)

    Confessions of an Advertising Man (Founders #89)

    [22:58] Total Recall: My Unbelievably True Life Story (Founders #141)

    [27:00] They were not interested in building a long-term business. They were only interested in a fast buck, buying their wives mink coats, and driving Cadillacs. They did not have the same ideas that I had about building a business. These guys didn't care about gaining respect, about being honest and honorable. I didn't want to be in business with people of that nature.

    [27:29] Adversity is a great teacher. Little did I know that this downturn of events would catapult me to a higher ground.

    [30:25] Copy This!: Lessons from a Hyperactive Dyslexic who Turned a Bright Idea Into One of America's Best Companies (Founders #181)

    [32:18] I came from within inches of quitting that day.

    [32:43] Not many things are as exciting and satisfying as being part of a business that is succeeding and growing rapidly. There's an atmosphere and a feeling that's tremendous.

    [41:48] How can you get closer to the customer? And then just keep maintaining that relationship.

    [42:44] I wasn't content to rest on my laurels. Good enough wasn't good enough for me. I saw that we had a good thing going and I wanted to expand in a big, big way before somebody else did.

    [43:02] Setting the Table: The Transforming Power of Hospitality in Business(Founders #20)

    [50:07] Identify your bottleneck and put all your resources into attacking that bottleneck.

    [51:33] Focus is saying no. —Steve Jobs

    [53:34] Bloomberg by Bloomberg (Founders #228)

    [56:39] Keep your foot on the gas and stay close to the customer.

    [1:00:19] Les Schwab’s autobiography (Founders #105)

    [1:02:27] I was eager to have Bob takeover. I think this is common in family businesses when a parent hands over the reigns to the child. But the danger is that the parent becomes blind to some of the drawbacks of such an arrangement. This didn't become apparent until later.

    [1:10:22]  They spent a lot of time in court preparing and fighting legal battles. Instead of building the business. I stuck by my son and his team. My fortune in Dunkin donuts stock went from $30 million to $3 million.

    [1:13:06] I made many mistakes in my life. I believe one of the biggest mistakes was trying too hard to accommodate my son's desires.

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