daniel ludwig

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

----

Come build relationships at the Founders Conference on July 29th-July 31st in Scotts Valley, California

----

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

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

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

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

 A few questions I've asked SAGE recently: 

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

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

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

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

Get access to Founders Notes here. 

----

If you want me to speak at your company go here. 

----

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

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

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

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

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

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

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

(10:00) Great Advertising Founders Episodes:

Albert Lasker (Founders #206)

Claude Hopkins (Founders #170 and #207)

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

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

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

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

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

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

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

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

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

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

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

(29:00) Marketing is theatre.

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

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

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

----

If you want me to speak at your company go here. 

----

“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

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

----

Relationships run the world: Build relationships at Founders events

----

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

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

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

 A few questions I've asked SAGE recently: 

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

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

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

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

Get access to Founders Notes here. 

----

Make yourself easy to interface with: Scribe helps entrepreneurs, consultants, executives, and other professionals publish a book about their specific knowledge. 

Mention you heard about Scribe on Founders and they will give you these discounts: 

Guided Author - $1,000 off
Scribe Professional - $1,000 off
Scribe Elite Ghostwriting - $3,000 off

----

Vesto helps you see all of your company's financial accounts in one view. Connect and control all of your business accounts from one dashboard. Tell Ben (the founder of Vesto) that David sent you and you will get $500 off. 

----

Join my personal email list if you want me to email you my top ten highlights from every book I read

----

Buy a super comfortable Founders sweatshirt (or hat) here ! 

----

Episode Outline: 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

16.  A summary of Charlie Munger on incentives:

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

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

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

----

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

----

“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

What I learned from reading The Red Bull Story by Wolfgang Fürweger and Red Bull's Billionaire Maniac by Duff McDonald. 

----

Get access to the World’s Most Valuable Notebook for Founders by investing in a subscription to Founders Notes

----

Come and build in-person relationships at the Founders Only conference

----

(1:30) "In literal financial terms, our sports teams are not yet profitable, but in value terms, they are," he says. "The total editorial media value plus the media assets created around the teams are superior to pure advertising expenditures."

(2:30) "It is a must to believe in one's product. If this were just a marketing gimmick, it would never work."

(5:00) 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."

(7:30) The most dangerous thing for a branded product is low interest. (Edwin Land: The test of an invention is the power of an inventor to push it through in the face of the staunch-not opposition, but indifference-in society. (Indifference is your enemy)

(9:00) Nike, Adidas and Vans episodes:

Shoe Dog: A Memoir by the Creator of Nike by Phil Knight. (Founders #186)

Sneaker Wars: The Enemy Brothers Who Founded Adidas and Puma and The Family Feud That Forever Changed The Business of Sports by Barbara Smit. (Founders #109)

Authentic: A Memoir by the Founder of Vans by Paul Van Doren. (Founders #216)

(11:00) The lines between Red Bull, Red Bull athletes, and Red Bull events are blurry on purpose. To Mateschitz, it's just one big image campaign with many manifestations.

(12:00) He has no plans to sell or take Red Bull public. "It's not a question of money. It's a question of fun. Can you imagine me in a shareholders' meeting?”

(13:00) Red Bull’s Billionaire Maniac https://www.bloomberg.com/news/articles/2011-05-19/red-bulls-billionaire-maniac

(16:00) He is universally described as a person with great charisma.

(16:30) The Invisible Billionaire: Daniel Ludwig by Jerry Shields. (Founders 292)

(17:00) He has a fierce desire for privacy. He buys a society magazine to make sure he never appears in it.

(22:00) There is no market for Red Bull. We will create one.

(24:00) Estée Lauder: A Success Story by Estée Lauder.  (Founders #217)

(30:00) the NEW Poor Charlie's Almanack: The Wit and Wisdom of Charlie Munger. (Founders #329)

(31:00) Gossip and malicious rumors are worth more than the most expensive publicity campaign in the world.” — Dior by Dior: The Autobiography of Christian Dior (Founders #331)

(36:00) Control your costs and maintain financial discipline even when making record profits.

(38:00) Cult brands have their own laws, otherwise they would not be cultish.

(38:00) Red Bull is Dietrich Mateschitz and Dietrich Mateschitz is Red Bull.

(38:00) Many companies outsource their marketing and advertising activity. Red Bull consistently took the opposite route: It outsourced production and distribution and takes care of sales and advertising itself.

(40:00) Charlie Munger and John Collison on Invest Like The Best #355 

Rolex: Timeless Excellence on Invest Like The Best 

(41:00) If you are making a physical product make it look different from its competitors from the start.

(43:00) Everything is marketing.

(45:00) Never do anything that compromises your survival.

(46:00) He keeps his empire constantly in motion

(46:00) All corporate projects like Formula 1, football, Air Race, and media serve the core business: the sale of the energy drink.

(47:00) This is a battle for attention.

(49:00) Red Bull owns their events. They never relinquish media rights to any event. They invest in making the content and then they give their content to other media distributors for free. A very clever way to multiply their advertising and marketing spend.

(52:00) The Bugatti Story by L’Ebe Bugatti. (Founders #316)

The Dream of Solomeo: My Life and the Idea of Humanistic Capitalism by Brunello Cucinelli. (Founders #289)

(54:00) Why he moved Red Bull’s headquarters to a little village on a lake: The aim was to create a more pleasant working atmosphere.

(54:00) On why fitness is so important to him: “Everything that gives me pleasure in life is connected with a certain physical fitness and physical well-being. I like going to the mountain, I like skiing, I like sailing, I like riding a motorbike, I like fooling around - and everything is connected with a minimum of physical agility, motor skills, dexterity, strength, stamina. In order to enjoy it outdoors, I need the indoor program.”

----

Get access to the World’s Most Valuable Notebook for Founders by investing in a subscription to Founders Notes

----

Come and build in-person relationships at the Founders Only conference

----

“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

What I learned from reading How Larry Gagosian Reshaped The Art World by Patrick Radden Keefe. 

----

Get access to the World’s Most Valuable Notebook for Founders by investing in a subscription to Founders Notes

----

(4:00) The dealer has been so successful selling art to masters of the universe that he has become one of them.

(5:45) We think of genius as being complicated, but geniuses have the fewest moving parts. Gagosian is simple. He's basically a shark, a feeding machine.

(6:00) A novice is easily spotted because they do too much. Too many ingredients, too many movements. Too much explanation. A master uses the fewest motions required to fulfill their intention.

(10:00) His own publicist described him as “A Real Killer”

(12:00) The Invisible Billionaire: Daniel Ludwig by Jerry Shields. (Founders #292)

(17:30) There is always a blueprint. Joseph Duveen was the art dealer to the Robber Barons. 

Biographies of Duveen:

Duveen: A Life in Art

Secrets Of An Art Dealer

Duveen

The Artful Partners: The Secret Association of Bernard Berenson and Joseph Duveen

(18:00) Numerous friends of Gagosian caution me not to mistake this merry-go-round of parties and galas and super yacht cruises for a life of leisure. This guy is always working. This motherfucker works 24/7. The parties are marketing showcases in disguise.

(19:00) The Taste of Luxury: Bernard Arnault and the Moet-Hennessy Louis Vuitton Story by Nadege Forestier and Nazanine Ravai. (Founders #296)

(19:30) The best way to raise the price of something is to say that you would never sell it.

(23:00) If Gagosian possesses one secret weapon that has equipped him for success it might be his disinhibition.

(33:00) The niche Gagosian pursued was seen —at the time —as low status. The secondary business was perceived as a backwater by dealers. It was considered a bit distasteful.

(42:00) He disdains formal meetings. He finds bureaucracy and protocol dull. There is no hierarchy. There is Larry and then everyone else.

(44:00) Gagosian reaps huge profits from asymmetries of information.

(51:00) Art is just money on the walls.

(54:00) David Geffen is still as liquid as the day is long.

(56:00) The competitive drive of self-made billionaires does not go into remission once they’ve made their fortune.

----

Get access to the World’s Most Valuable Notebook for Founders by investing in a subscription to Founders Notes

----

“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

What I learned from rereading Grinding It Out: The Making of McDonald's by Ray Kroc.

----

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

----

Follow Founders Podcast on YouTube 

----

Follow one of my favorite podcasts Invest Like The Best !

[2:00] I have always believed that each man makes his own happiness and is responsible for his own problems.

[4:00] I was fascinated by the simplicity and effectiveness of the system they described that night.Each step in producing the limited menu was stripped down to its essence and accomplished with a minimum of effort.

[5:00] When I flew back to Chicago that fateful day in 1954, I had a freshly signed contract with the McDonald brothers in my briefcase. I was a battle-scarred veteran of the business wars, but I was still eager to go into action. I was 52 years old. I had diabetes and incipient arthritis. I had lost my gall bladder and most of my thyroid gland in earlier campaigns. But I was convinced that the best was ahead of me.

[6:00] It’s not what you do it’s how you do it:

Ralph Lauren: The Man Behind the Mystique by Jeffrey Trachtenberg. (Founders #288)

Hard Drive: Bill Gates and the Making of the Microsoft Empire by James Wallace and Jim Erickson. (Founders #290)

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

[8:00] I never considered my dreams wasted energy. They were invariably linked to some form of action.

[10:00] For me, work was play.

[13:00] I vowed that this was going to be my only job. I was going to make my living at it and to hell with moonlighting of any kind. I intended to devote every ounce of my energy to selling, and that's exactly what I did.

[14:00] Francis Ford Coppola: A Filmmaker's Life by Michael Schumacher. (Founders #242)

[20:00] This was the first phase of grinding it out—building my personal monument to capitalism. I paid tribute, in the feudal sense, for many years before I was able to rise with McDonald's on the foundation I had laid.

[21:00] Make every detail perfect and limit the number of details to perfect.

[26:00] I was putting every cent I had and all I could borrow into this project.

[28:00] Perfection is very difficult to achieve and perfection was what I wanted in McDonald's. Everything else was secondary.

[29:00] If my competitor was drowning, I'd put a hose in his mouth.

[44:00] Titan: The Life of John D. Rockefeller by Ron Chernow. (Founders #248)

John D: The Founding Father of the Rockefellers by David Freeman Hawke. (Founders #254)

[47:00] The advertising campaign we put together was a smash hit. It turned Californians into our parking lots as though blindfolds had been removed from their eyes.

[48:00] Authority should go with the job.

----

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

----

Follow Founders Podcast on YouTube 

----

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

----

“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

What I learned from rereading The Invisible Billionaire: Daniel Ludwig by Jerry Shields. 

----

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

----

Follow one of my favorite podcasts Invest Like The Best !

----

[2:00] Obsessed with privacy, Ludwig pays a major public relations firm fat fees to keep his name out of the papers.

[4:00]  An associate speaks of his unlimited ingenuity in dreaming up new ways of doing things.

[5:00] Ludwig’s most notable characteristic, besides his imagination and pertinacity, is a lifelong penchant for keeping his mouth shut.

[5:00] I'm in this business because I like it. I have no other hobbies.

[6:00] Holding strongly to an opinion, purpose, or course of action, stubbornly or annoyingly persistent.

[8:00] Risk Game: Self Portrait of an Entrepreneur by Francis Greenburger (Founders #243)

[10:00] At his peak, he owned more than 200 companies in 50 countries.

[23:00] War makes the demand for Ludwig's products and services skyrocket.

[25:00] Hard Drive: Bill Gates and the Making of the Microsoft Empire by James Wallace and Jim Erickson. (Founders #290)

[28:00] He did not mellow as he grew richer and older.

[28:00] Some years later, the captain of a Ludwig ship made the extravagant mistake of mailing in a report of several pages held together by a paper clip. He received a sharp rebuke for his prodigality: "We do not pay to send ironmongery by air mail!"

[29:00] Ludwig’s tightfistedness, however, persisted after the Depression, putting him in sharp contrast to such free spenders as Onassis and Niarchos. It also was largely responsible for many of his innovations in the shipbuilding industry.

[29:00] Onassis: An Extravagant Life by Frank Brady. (Founders #211)

[30:00] Ludwig’s ridding his ships of any feature that did not contribute to profits pleased his own obsessive sense of economy and kept him a step ahead of the competition. When someone asked why he didn't put a grand piano aboard his ships, as Stavros Niarchos did, Ludwig snapped, "You can't carry oil in a grand piano."

[31:00] Stay in the game long enough to get lucky.

[32:00] The world is a very malleable place. If you know what you want, and you go for it with maximum energy and drive and passion, the world will often reconfigure itself around you much more quickly and easily than you would think.  The Pmarca Blog Archive Ebook by Marc Andreessen (Founders #50)

[37:00] The yacht was as much a business craft as any of his tankers and probably earned him more money than any of them.

[40:00] Like the Rockefeller organization, Ludwig had mastered the practice of keeping his money by transferring it from one pocket, one company to another, while appearing to spend it.

[42:00] He had learned something by now. Opportunities exist on the frontiers where most men dare not venture, and it is often the case that the farther the frontier, the greater the opportunity.

[43:00] The way to escape competition is to either do something no one else is doing or do it where no one else is doing it.

[43:00] Much of Ludwig's success was due to his willingness to venture where more timid entrepreneurs dared not go.

----

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

----

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

----

“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

What I learned from reading Onassis: An Extravagant Life by Frank Brady. 

----

Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com

----

He became one of the richest men in U.S. history ever to be arrested.

The epic life of Aristotle Onassis is as mysterious as a tale from ancient Greek mythology and is a study of paradoxes, altogether gripping because of their seeming inconsistencies.

Onassis had long since begun to formulate a personal business philosophy. The key to success was boldness, boldness, and more boldness.

He was constantly visiting and inspecting ships, talking to ship owners and other importers and quietly absorbing everything, making a very conscious attempt to learn as much as he could before going into ship-owning seriously.

He was quite observant about what, to others, were trifles but, to him, were important details. He often quoted Napoleon: “The pursuit of detail is the religion of success.”

Onassis was a man of the pier, but with the cocksureness of a king.

She simply never knew anyone quite as free or exotic as Aristotle Onassis, a paradoxical blend of raconteur and ruffian.

Onassis was a born orator. He could keep a dinner party of some of the world's most sophisticated conversationalists spellbound.

Onassis spent almost all of his time working. He would pore over shipping journals from Antwerp, Vancouver, Hamburg, and New York, looking for intelligence, trends, and opportunities. He would scan, study and memorize tonnage, prices, insurance rates and schedules of the world's great and small steamship companies and then attempt to outbid his competitors. He read the maritime sections of at least six foreign language daily newspapers each day.

And I, of course, will do exactly as I please.

----

Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com

----

“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

What I learned from reading Onassis: The Definitive Biography by Willi Frischauer.

----

Come see a live show with me and Patrick O'Shaughnessy from Invest Like The Best on October 19th in New York City. 

Get your tickets here! 

---

Join Founders AMA

Members of Founders AMA can:

-Email me your questions directly (you get a private email address in the confirmation email) 

-Promote your company to other members by including a link to your website with you question 

-Unlock every Ask Me Anything (AMA) episodes immediately

-Listen to new Ask Me Anything (AMA) episodes every week 

---

"To read Bezos’ shareholder letters is to get a crash course in running a high-growth internet business from someone who mastered it before any of the playbooks were written."

What I learned from reading The Box: How the Shipping Container Made the World Smaller and the World Economy Bigger.

---

Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. 

---

Such was the beginning of a revolution [0:01]

The economic benefits arise not from innovation itself, but from the entrepreneurs who eventually discover ways to put innovations to practical use. [15:30]

the basic idea was around for decades [17:30]

Malcom's early life and first business [23:00]

McLean had an obsessive focus on cutting costs [33:00]

the beginning of Malcom McLean's idea [37:00]

McLean's definition of total commitment [41:00]

McLean's fundamental insight [48:00]

fixing the business by focusing on the customer's real problem [53:40]

the surprising reason containers are standardized [1:00:00]

Daniel K. Ludwig and Malcom McLean [1:07:00]

Malcom McLean sells his business [1:13:00]

Starting another business [1:21:00]