On Outliers, Daniel Scrivner explores the tactics, routines, and habits of world-class performers working at the edge — in business, investing, science, and so much more. In each episode, he decodes what they've mastered and what they've learned along the way. Start learning from the world's best today. Learn more and stay up to date at DanielScrivner.com and Outliers.fm.
Steve Jobs made an incredible impact on the world by creating two of today's most important companies in Apple and Pixar. Both companies created world-changing products while Steve Jobs was alive in the Macintosh, iPod, iPhone, and Oscar winning animated films such as Toy Story. More importantly, both companies developed the right team, vision, and culture to continue producing world-shaping products decades later — long after Steve's departure. As we learn in this book, Steve's values and ethos live on in both of these incredible companies. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/172. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. To Pixar And Beyond: My Unlikely Journey with Steve Jobs to Make Entertainment History For more, explore my full profile on Steve Jobs. Who is Steve Jobs? Wisdom From The Man Who Built Apple, NeXT, and Pixar Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
Steve Jobs made an incredible impact on the world by creating two of today's most important companies in Apple and Pixar. Both companies created world-changing products while Steve Jobs was alive in the Macintosh, iPod, iPhone, and Oscar winning animated films such as Toy Story. More importantly, both companies developed the right team, vision, and culture to continue producing world-shaping products decades later — long after Steve's departure. As we learn in this book, Steve's values and ethos live on in both of these incredible companies. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/172. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. To Pixar And Beyond: My Unlikely Journey with Steve Jobs to Make Entertainment History For more, explore my full profile on Steve Jobs. Who is Steve Jobs? Wisdom From The Man Who Built Apple, NeXT, and Pixar Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
My favorite lessons from "To Pixar and Beyond" by Lawrence Levy. Who joined Pixar in 1995, helped Steve Jobs take Pixar public, and built it into the $7.4 billion company Disney eventually acquired. Get Friday 5 delivered to your inbox every Friday at 8 AM Pacific Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/184. Chapters (00:00) Introduction and Background (03:10) Anatomy of a Deal and Poker Time (05:04) #1 Don't Engage in Positional Bargaining (06:53) #2 Understand the Difference Between Strategy and Tactics (10:05) #3 Analyze Your Points of Leverage (14:47) #4 Get Clear on What You Want and Why (20:32) #5 Wait to Negotiate Until You Have Maximum Leverage Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. Insanely Simple: The Obsession That Drives Apple's Success Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
My favorite lessons from "To Pixar and Beyond" by Lawrence Levy. Who joined Pixar in 1995, helped Steve Jobs take Pixar public, and built it into the $7.4 billion company Disney eventually acquired. Get Friday 5 delivered to your inbox every Friday at 8 AM Pacific Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/184. Chapters (00:00) Introduction and Background (03:10) Anatomy of a Deal and Poker Time (05:04) #1 Don't Engage in Positional Bargaining (06:53) #2 Understand the Difference Between Strategy and Tactics (10:05) #3 Analyze Your Points of Leverage (14:47) #4 Get Clear on What You Want and Why (20:32) #5 Wait to Negotiate Until You Have Maximum Leverage Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. Insanely Simple: The Obsession That Drives Apple's Success Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
After he was dismissed from Apple in the early 1990s, Steve Jobs turned his attention to a little-known graphics company he owned called Pixar. One day, out of the blue, Jobs called Lawrence Levy, a Harvard-trained lawyer and executive to whom he had never spoken before. He hoped to persuade Levy to help him pull Pixar back from the brink of failure. This is the extraordinary story of what happened next: how Jobs and Levy concocted and pulled off a highly improbable plan that transformed Pixar into the Hollywood powerhouse it is today. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/183. Chapters (00:00) The Bleak State of Pixar's Business in 1994 (08:06) Steve Jobs' Investment in Pixar (10:24) The Initial Contract with Disney (26:27) The Four Pillar Business Strategy (32:53) Renegotiating the Contract with Disney (38:10) Don't Engage in Positional Bargaining (40:36) Understand the Difference Between Strategy and Tactics (43:11) Analyze Where You Stand in Relation to the Other Party (45:40) Pixar's Negotiating Power (48:05) Assessing Strength and Negotiating Terms (49:27) Knowing What You Want (51:20) Creative Control and Release Windows (52:18) Profit Share and Revenue Calculation (53:42) Building the Pixar Brand (55:09) Waiting for Maximum Leverage Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. To Pixar And Beyond: My Unlikely Journey with Steve Jobs to Make Entertainment History For more, explore my full profile on Steve Jobs. Who is Steve Jobs? Wisdom From The Man Who Built Apple, NeXT, and Pixar Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
After he was dismissed from Apple in the early 1990s, Steve Jobs turned his attention to a little-known graphics company he owned called Pixar. One day, out of the blue, Jobs called Lawrence Levy, a Harvard-trained lawyer and executive to whom he had never spoken before. He hoped to persuade Levy to help him pull Pixar back from the brink of failure. This is the extraordinary story of what happened next: how Jobs and Levy concocted and pulled off a highly improbable plan that transformed Pixar into the Hollywood powerhouse it is today. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/183. Chapters (00:00) The Bleak State of Pixar's Business in 1994 (08:06) Steve Jobs' Investment in Pixar (10:24) The Initial Contract with Disney (26:27) The Four Pillar Business Strategy (32:53) Renegotiating the Contract with Disney (38:10) Don't Engage in Positional Bargaining (40:36) Understand the Difference Between Strategy and Tactics (43:11) Analyze Where You Stand in Relation to the Other Party (45:40) Pixar's Negotiating Power (48:05) Assessing Strength and Negotiating Terms (49:27) Knowing What You Want (51:20) Creative Control and Release Windows (52:18) Profit Share and Revenue Calculation (53:42) Building the Pixar Brand (55:09) Waiting for Maximum Leverage Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. To Pixar And Beyond: My Unlikely Journey with Steve Jobs to Make Entertainment History For more, explore my full profile on Steve Jobs. Who is Steve Jobs? Wisdom From The Man Who Built Apple, NeXT, and Pixar Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
In 2016, Apple published a limited edition anthology, chronicling the last 20 years of Apple's designs simply titled Designed by Apple in California. The book is dedicated to the memory of Steve Jobs. “The idea of genuinely trying to make something great for humanity was Steve's motivation from the beginning, and it remains both our ideal and our goal as Apple looks to the future,” said Jony Ive, Apple's chief design officer. “This archive is intended to be a gentle gathering of many of the products the team has designed over the years. We hope it brings some understanding to how and why they exist, while serving as a resource for students of all design disciplines.” The book was written and curated over an eight-year period by Jony Ive and features photos by award-winning photographer Andrew Zuckerman. All of the photos were shot in a deliberately spare style that has become a hallmark of Apple's design aesthetic. The books 450 images illustrates Apple's design process as well as its finished products. Chapters (00:00) Introduction (01:19) Designed by Apple in California (03:13) Objective Representation of Work (04:11) Collaboration and Design Process (05:05) Evolution of Forms and Materials (06:05) Simplicity and Communication (07:01) Dedication to Steve Jobs (08:24) Book Overview (09:51) Johnny Ive's Perspective Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/177. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email For more, explore my full profile of Steve Jobs. Who is Steve Jobs? Wisdom From The Man Who Built Apple, NeXT, and Pixar Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
In 2016, Apple published a limited edition anthology, chronicling the last 20 years of Apple's designs simply titled Designed by Apple in California. The book is dedicated to the memory of Steve Jobs. “The idea of genuinely trying to make something great for humanity was Steve's motivation from the beginning, and it remains both our ideal and our goal as Apple looks to the future,” said Jony Ive, Apple's chief design officer. “This archive is intended to be a gentle gathering of many of the products the team has designed over the years. We hope it brings some understanding to how and why they exist, while serving as a resource for students of all design disciplines.” The book was written and curated over an eight-year period by Jony Ive and features photos by award-winning photographer Andrew Zuckerman. All of the photos were shot in a deliberately spare style that has become a hallmark of Apple's design aesthetic. The books 450 images illustrates Apple's design process as well as its finished products. Chapters (00:00) Introduction (01:19) Designed by Apple in California (03:13) Objective Representation of Work (04:11) Collaboration and Design Process (05:05) Evolution of Forms and Materials (06:05) Simplicity and Communication (07:01) Dedication to Steve Jobs (08:24) Book Overview (09:51) Johnny Ive's Perspective Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/177. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email For more, explore my full profile of Steve Jobs. Who is Steve Jobs? Wisdom From The Man Who Built Apple, NeXT, and Pixar Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
“At this point in my career, I have art directed over 100 products from a rough idea into consumer's hands. I've collaborated with incredible creators like James Clear and Roxane Gay. There came a point where it was very obvious how it all worked and fit together—because I was always interested not just in what I was doing but how I was doing it.” — Joey Cofone Joey Cofone, Founder & CEO of the much loved “tools for thinkers” company Baronfig, joins me to breakdown his new book, The Laws of Creativity. We cover why creativity isn't magic, how creators across history from Albert Einstein to Grace Hopper and Bruce Lee wielded creativity to reach incredible heights, practical ways to hone your creativity, a framework for generating ideas, Joey's process for writing the book, and so much more. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/142. Chapters (00:00:00) Introduction (00:01:49) Origin Story of The Laws of Creativity (00:06:39) Distilling Down the Laws of Creativity (00:08:17) What Creativity Is and Why It Isn't Magic (00:18:17) On Zeno's Paradox and Choosing to Finish (00:22:58) The Laws of Mindset, Action, and Greatness (00:25:57) Joey's Favorite Law: The Law of Competition (00:29:55) The Law of Precision (00:33:00) The Law of The Muse (00:36:06) On Borrowing vs Stealing Ideas (00:39:42) The Law of Simplicity (00:42:56) The Law of Good Enough (00:46:51) Joey's Process for Writing the Book (00:55:54) Knowing When the Book Was Done (01:02:07) The Highs and Lows of Creating Baronfig (01:04:54) Creativity vs Business (01:08:21) Baronfig: The Idea Company Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. Insanely Simple: The Obsession That Drives Apple's Success For more, explore my full profile on Steve Jobs. Who is Steve Jobs? Wisdom From The Man Who Built Apple, NeXT, and Pixar Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community About the book. In his book The Laws of Creativity, Joey debunks why creativity isn't magic and shares what it is, how it works, and how you can harness it in your everyday life. Learn how to unlock your originality and awaken your creative genius with Joey Cofone—award-winning designer and Founder & CEO of the much loved “Tools for Thinkers'' brand Baronfig. Each of the 39 Laws of Creativity are illustrated with inspiring, enlightening, and surprising stories of iconic creators across history—including Albert Einstein, Serena Williams, Martin Luther King Jr., Harry Houdini, Grace Hopper, Bruce Lee, and many more. Joey breaks down how these titans of history wielded creativity to reach incredible heights. “Drawing on decades of experience, Joey Cofone has distilled the elements of creativity into an excellent, easy-to-use guide. The Laws of Creativity provides a roadmap for unleashing the creative force inside you.” — James Clear, Author of Atomic Habits Learn more about your ad choices. Visit megaphone.fm/adchoices
“At this point in my career, I have art directed over 100 products from a rough idea into consumer's hands. I've collaborated with incredible creators like James Clear and Roxane Gay. There came a point where it was very obvious how it all worked and fit together—because I was always interested not just in what I was doing but how I was doing it.” — Joey Cofone Joey Cofone, Founder & CEO of the much loved “tools for thinkers” company Baronfig, joins me to breakdown his new book, The Laws of Creativity. We cover why creativity isn't magic, how creators across history from Albert Einstein to Grace Hopper and Bruce Lee wielded creativity to reach incredible heights, practical ways to hone your creativity, a framework for generating ideas, Joey's process for writing the book, and so much more. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/142. Chapters (00:00:00) Introduction (00:01:49) Origin Story of The Laws of Creativity (00:06:39) Distilling Down the Laws of Creativity (00:08:17) What Creativity Is and Why It Isn't Magic (00:18:17) On Zeno's Paradox and Choosing to Finish (00:22:58) The Laws of Mindset, Action, and Greatness (00:25:57) Joey's Favorite Law: The Law of Competition (00:29:55) The Law of Precision (00:33:00) The Law of The Muse (00:36:06) On Borrowing vs Stealing Ideas (00:39:42) The Law of Simplicity (00:42:56) The Law of Good Enough (00:46:51) Joey's Process for Writing the Book (00:55:54) Knowing When the Book Was Done (01:02:07) The Highs and Lows of Creating Baronfig (01:04:54) Creativity vs Business (01:08:21) Baronfig: The Idea Company Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. Insanely Simple: The Obsession That Drives Apple's Success For more, explore my full profile on Steve Jobs. Who is Steve Jobs? Wisdom From The Man Who Built Apple, NeXT, and Pixar Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community About the book. In his book The Laws of Creativity, Joey debunks why creativity isn't magic and shares what it is, how it works, and how you can harness it in your everyday life. Learn how to unlock your originality and awaken your creative genius with Joey Cofone—award-winning designer and Founder & CEO of the much loved “Tools for Thinkers'' brand Baronfig. Each of the 39 Laws of Creativity are illustrated with inspiring, enlightening, and surprising stories of iconic creators across history—including Albert Einstein, Serena Williams, Martin Luther King Jr., Harry Houdini, Grace Hopper, Bruce Lee, and many more. Joey breaks down how these titans of history wielded creativity to reach incredible heights. “Drawing on decades of experience, Joey Cofone has distilled the elements of creativity into an excellent, easy-to-use guide. The Laws of Creativity provides a roadmap for unleashing the creative force inside you.” — James Clear, Author of Atomic Habits Learn more about your ad choices. Visit megaphone.fm/adchoices
Get Friday 5 delivered to your inbox every Friday at 8 AM Pacific In this episode of Friday Five, Daniel Scrivner shares his five favorite ideas from the book 'Insanely Simple: The Obsession That Drives Apple's Success' by Ken Segall. The book explores Apple's obsession with simplicity and how it has contributed to the company's success. The five ideas and stories discussed include starting with small groups of smart people, expressing a single idea clearly, the power of speaking human, being a ruthless enforcer of high standards, and the importance of marketing based on values. Chapters (00:00) Introduction (01:55) #1 Start with small groups of smart people and keep them small (04:21) #2 People will always respond better to a single idea expressed clearly (06:38) #3 1,000 songs in your pocket and the power of speaking human (07:59) #4 Good enough is not good enough. Be a ruthless enforcer of high standards (08:52) #5 In a complicated world, marketing is about values Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/176. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. Insanely Simple: The Obsession That Drives Apple's Success Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
Get Friday 5 delivered to your inbox every Friday at 8 AM Pacific In this episode of Friday Five, Daniel Scrivner shares his five favorite ideas from the book 'Insanely Simple: The Obsession That Drives Apple's Success' by Ken Segall. The book explores Apple's obsession with simplicity and how it has contributed to the company's success. The five ideas and stories discussed include starting with small groups of smart people, expressing a single idea clearly, the power of speaking human, being a ruthless enforcer of high standards, and the importance of marketing based on values. Chapters (00:00) Introduction (01:55) #1 Start with small groups of smart people and keep them small (04:21) #2 People will always respond better to a single idea expressed clearly (06:38) #3 1,000 songs in your pocket and the power of speaking human (07:59) #4 Good enough is not good enough. Be a ruthless enforcer of high standards (08:52) #5 In a complicated world, marketing is about values Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/176. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. Insanely Simple: The Obsession That Drives Apple's Success Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
"Simple can be harder than complex. You have to work hard to get your thinking clean, to make it simple. But it's worth it in the end, because once you get there, you can move mountains." — Steve Jobs To Steve Jobs, simplicity was a religion. It was also a weapon. Revolution after revolution, Jobs proved that Simplicity is the most powerful force in business. It guides the way Apple is organized, how it designs products, and how it connects with customers. As ad agency creative director, Ken Segall played a key role in Apple's resurrection after Steve Jobs returned. He helped create such marketing campaigns as Think Different. By naming the iMac, he also laid the foundation for naming waves of i-products to come. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/175. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. Insanely Simple: The Obsession That Drives Apple's Success For more, explore my full profile on Steve Jobs. Who is Steve Jobs? Wisdom From The Man Who Built Apple, NeXT, and Pixar Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
"Simple can be harder than complex. You have to work hard to get your thinking clean, to make it simple. But it's worth it in the end, because once you get there, you can move mountains." — Steve Jobs To Steve Jobs, simplicity was a religion. It was also a weapon. Revolution after revolution, Jobs proved that Simplicity is the most powerful force in business. It guides the way Apple is organized, how it designs products, and how it connects with customers. As ad agency creative director, Ken Segall played a key role in Apple's resurrection after Steve Jobs returned. He helped create such marketing campaigns as Think Different. By naming the iMac, he also laid the foundation for naming waves of i-products to come. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/175. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. Insanely Simple: The Obsession That Drives Apple's Success For more, explore my full profile on Steve Jobs. Who is Steve Jobs? Wisdom From The Man Who Built Apple, NeXT, and Pixar Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
"Simple can be harder than complex. You have to work hard to get your thinking clean, to make it simple. But it's worth it in the end, because once you get there, you can move mountains." — Steve Jobs To Steve Jobs, simplicity was a religion. It was also a weapon. Revolution after revolution, Jobs proved that Simplicity is the most powerful force in business. It guides the way Apple is organized, how it designs products, and how it connects with customers. As ad agency creative director, Ken Segall played a key role in Apple's resurrection after Steve Jobs returned. He helped create such marketing campaigns as Think Different. By naming the iMac, he also laid the foundation for naming waves of i-products to come. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/174. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. Insanely Simple: The Obsession That Drives Apple's Success For more, explore my full profile on Steve Jobs. Who is Steve Jobs? Wisdom From The Man Who Built Apple, NeXT, and Pixar Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
"Simple can be harder than complex. You have to work hard to get your thinking clean, to make it simple. But it's worth it in the end, because once you get there, you can move mountains." — Steve Jobs To Steve Jobs, simplicity was a religion. It was also a weapon. Revolution after revolution, Jobs proved that Simplicity is the most powerful force in business. It guides the way Apple is organized, how it designs products, and how it connects with customers. As ad agency creative director, Ken Segall played a key role in Apple's resurrection after Steve Jobs returned. He helped create such marketing campaigns as Think Different. By naming the iMac, he also laid the foundation for naming waves of i-products to come. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/174. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. Insanely Simple: The Obsession That Drives Apple's Success For more, explore my full profile on Steve Jobs. Who is Steve Jobs? Wisdom From The Man Who Built Apple, NeXT, and Pixar Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
"It is easy to forget that, when he was a student, the man who brought us the Macintosh, iPhone and iPad (and, with his little finger, Pixar) collected bottle caps to make ends meet. The need to stretch every nickel informed the way Apple was run during the early days." — Mike Moritz In 2015, Mike Moritz wrote an opinion piece for The Financial Times called "Imitators take note — Steve Jobs was more than a showman." It's a great reminder that the best businesses — including Apple — are the most capital efficient businesses. That what matters isn't how much you raise, but the business you build with what you raise. And that even Apple, started out life being incredibly cheap and capital efficient. Being frugal and stretching every nickel ensures that your business is as durable as possible. While revenue will always ebb and flow, expenses are typically subject to inertia. Expenses tend to build up invisibly, almost imperceptibly, and can require heroic acts to shrink. While is why it's so important to build a culture of frugality from Day One — ensuring that as many dollars spent as possible go toward strategic expenses that sustain and grow your business. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/173. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email For more, explore my full profile of Steve Jobs. Who is Steve Jobs? Wisdom From The Man Who Built Apple, NeXT, and Pixar Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
"It is easy to forget that, when he was a student, the man who brought us the Macintosh, iPhone and iPad (and, with his little finger, Pixar) collected bottle caps to make ends meet. The need to stretch every nickel informed the way Apple was run during the early days." — Mike Moritz In 2015, Mike Moritz wrote an opinion piece for The Financial Times called "Imitators take note — Steve Jobs was more than a showman." It's a great reminder that the best businesses — including Apple — are the most capital efficient businesses. That what matters isn't how much you raise, but the business you build with what you raise. And that even Apple, started out life being incredibly cheap and capital efficient. Being frugal and stretching every nickel ensures that your business is as durable as possible. While revenue will always ebb and flow, expenses are typically subject to inertia. Expenses tend to build up invisibly, almost imperceptibly, and can require heroic acts to shrink. While is why it's so important to build a culture of frugality from Day One — ensuring that as many dollars spent as possible go toward strategic expenses that sustain and grow your business. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/173. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email For more, explore my full profile of Steve Jobs. Who is Steve Jobs? Wisdom From The Man Who Built Apple, NeXT, and Pixar Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
“The investment management business actually looks a lot more like every other business, where there's products, there's marketing, and there's distribution, and you have to be outstanding at all three of those things in order to succeed in this business.” – Robert Cantwell, Founder and CIO of Compound Kings Chapters (00:02:23) Introduction (00:04:53) Defining a compounder (growth, profitability, high ROIC) (00:06:22) Investing in challenging markets (00:14:26) Robert's thoughts on the rise of active management (00:17:28) Why so much money is still in mutual funds (00:19:33) Thematic ETFs and where they can go wrong (00:39:05) Why investing in public markets is so challenging (00:46:09) Top three positions in Compound Kings today: Meta, ServiceNow, and Adyen (01:05:35) What it's like to build an ETF business Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/129. About Robert Cantrell and Compound Kings. Robert Cantwell is the Founder of Upholdings and Portfolio Manager of Compound Kings, which is an exchange-traded fund focused on investing in companies often called compounders. Compounders are typically profitable, growing, and generate very high returns on invest capital (ROIC). Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
“The investment management business actually looks a lot more like every other business, where there's products, there's marketing, and there's distribution, and you have to be outstanding at all three of those things in order to succeed in this business.” – Robert Cantwell, Founder and CIO of Compound Kings Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/129. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
Get Friday 5 delivered to your inbox every Friday at 8 AM Pacific Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. The Essays of Warren Buffett: Warren's Ideas from 50+ Years Grouped by Topic Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
Get Friday 5 delivered to your inbox every Friday at 8 AM Pacific Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. The Essays of Warren Buffett: Warren's Ideas from 50+ Years Grouped by Topic Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
No matter what your walk in life, no matter how big or small your enterprise, no matter whether it's for-profit or nonprofit, no matter whether you're CEO or a unit leader, the question stands: How does your flywheel turn? — Jim Collins Turning the Flywheel is a monograph that was meant to accompany Jim Collins' famous book Good to Great — which is all about what separate good companies from great ones, and how companies can make the journey to greatness. As Jim Collins writes in Turning the Flywheel: I wrote this monograph to share practical insights about the flywheel principles that became clear in the years after first writing about the flywheel effect in Chapter 8 of Good to Great. I decided to create this monograph because I've witnessed the power of the flywheel, when properly conceived and harnessed, in a wide range of organizations: in public corporations and private companies, in large multinationals and small family businesses, in military organizations and professional sports teams, in school systems and medical centers, in social movements and nonprofits. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/169. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. Turning the Flywheel: Why Some Companies Build Momentum and Others Don't Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
No matter what your walk in life, no matter how big or small your enterprise, no matter whether it's for-profit or nonprofit, no matter whether you're CEO or a unit leader, the question stands: How does your flywheel turn? — Jim Collins Turning the Flywheel is a monograph that was meant to accompany Jim Collins' famous book Good to Great — which is all about what separate good companies from great ones, and how companies can make the journey to greatness. As Jim Collins writes in Turning the Flywheel: I wrote this monograph to share practical insights about the flywheel principles that became clear in the years after first writing about the flywheel effect in Chapter 8 of Good to Great. I decided to create this monograph because I've witnessed the power of the flywheel, when properly conceived and harnessed, in a wide range of organizations: in public corporations and private companies, in large multinationals and small family businesses, in military organizations and professional sports teams, in school systems and medical centers, in social movements and nonprofits. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/169. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. Turning the Flywheel: Why Some Companies Build Momentum and Others Don't Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
In 1985, Warren Buffett had to make an incredibly difficult decision. Which was whether to shut down the textile business Berkshire Hathaway — the original business Warren acquired, which was where Berkshire got its name. In today's episode, I break down that decision and why he ultimately closed the business. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/171. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. The Essays of Warren Buffett: Warren's Ideas from 50+ Years Grouped by Topic Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
In 1985, Warren Buffett had to make an incredibly difficult decision. Which was whether to shut down the textile business Berkshire Hathaway — the original business Warren acquired, which was where Berkshire got its name. In today's episode, I break down that decision and why he ultimately closed the business. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/171. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. The Essays of Warren Buffett: Warren's Ideas from 50+ Years Grouped by Topic Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
Paul Graham's essay on "How To Do Great Work" begins with the following words: If you collected lists of techniques for doing great work in a lot of different fields, what would the intersection look like? I decided to find out by making it. Partly my goal was to create a guide that could be used by someone working in any field. But I was also curious about the shape of the intersection. And one thing this exercise shows is that it does have a definite shape; it's not just a point labelled "work hard." The following recipe assumes you're very ambitious. As we're all both very ambitious and focused on doing great work, it felt appropriate to cover this essay as a sort of book in miniature. The essay itself comes in at a staggering 11,800 words or nearly 30 pages when printed. "How To Do Great Work" explores curiosity, the source of originality, the relationship between breaking rules and new ideas, and how being naive is a form of independent mindedness. As well as why being self-indulgent helps you find overlooked problems, why big ideas are more often questions than answers, and why the best questions grow while you work to answer them. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/168. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
Paul Graham's essay on "How To Do Great Work" begins with the following words: If you collected lists of techniques for doing great work in a lot of different fields, what would the intersection look like? I decided to find out by making it. Partly my goal was to create a guide that could be used by someone working in any field. But I was also curious about the shape of the intersection. And one thing this exercise shows is that it does have a definite shape; it's not just a point labelled "work hard." The following recipe assumes you're very ambitious. As we're all both very ambitious and focused on doing great work, it felt appropriate to cover this essay as a sort of book in miniature. The essay itself comes in at a staggering 11,800 words or nearly 30 pages when printed. "How To Do Great Work" explores curiosity, the source of originality, the relationship between breaking rules and new ideas, and how being naive is a form of independent mindedness. As well as why being self-indulgent helps you find overlooked problems, why big ideas are more often questions than answers, and why the best questions grow while you work to answer them. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/168. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
In this conversation, Daniel Scrivner shares his favorite quotes and wisdom from Charlie Munger, the vice chairman of Berkshire Hathaway. The conversation covers various topics, including the power of incentives, the importance of learning from Munger, value investing and Benjamin Graham, eliminating mistakes, long-term investing, keeping cash, the fallibility of financial companies, recognizing reality, waiting and patience, maximizing variables in business, good businesses vs bad businesses, the success of Federal Express, the value of learning and admitting mistakes, avoiding extreme ideologies and trusting experts, the importance of context and individual solutions, the danger of over-specialization, deserved trust and utilizing missed chances, and seeing reality clearly and stating arguments. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/180. Jump to any section of this episode. (00:00) The Power of Incentives (01:20) Learning from Charlie Munger (02:14) Wisdom and Quotes from Charlie Munger (03:08) Value Investing and Benjamin Graham (04:29) The Importance of Eliminating Mistakes (05:24) Long-Term Investing and Holding Period (06:19) The Strategy of Keeping Cash (07:18) The Fallibility of Financial Companies (08:15) Recognizing Reality and Being Rational (09:09) The Importance of Waiting and Patience (10:22) Maximizing Variables in Business (11:17) Good Businesses vs Bad Businesses (12:10) Incentives and the Success of Federal Express (13:09) The Value of Learning and Admitting Mistakes (14:07) Avoiding Extreme Ideologies and Trusting Experts (15:11) The Importance of Context and Individual Solutions (16:31) The Danger of Over-Specialization (17:28) Deserved Trust and Utilizing Missed Chances (18:03) Seeing Reality Clearly and Stating Arguments (19:02) Conclusion and Further Exploration Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. The Tao of Charlie Munger: Wisdom on Life, Business, and the Pursuit of Wealth For more, explore my full profile on Warren Buffett. Who is Charlie Munger? Wit and Wisdom From The World's Most Irreverent Billionaire Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
In this conversation, Daniel Scrivner shares his favorite quotes and wisdom from Charlie Munger, the vice chairman of Berkshire Hathaway. The conversation covers various topics, including the power of incentives, the importance of learning from Munger, value investing and Benjamin Graham, eliminating mistakes, long-term investing, keeping cash, the fallibility of financial companies, recognizing reality, waiting and patience, maximizing variables in business, good businesses vs bad businesses, the success of Federal Express, the value of learning and admitting mistakes, avoiding extreme ideologies and trusting experts, the importance of context and individual solutions, the danger of over-specialization, deserved trust and utilizing missed chances, and seeing reality clearly and stating arguments. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/180. Jump to any section of this episode. (00:00) The Power of Incentives (01:20) Learning from Charlie Munger (02:14) Wisdom and Quotes from Charlie Munger (03:08) Value Investing and Benjamin Graham (04:29) The Importance of Eliminating Mistakes (05:24) Long-Term Investing and Holding Period (06:19) The Strategy of Keeping Cash (07:18) The Fallibility of Financial Companies (08:15) Recognizing Reality and Being Rational (09:09) The Importance of Waiting and Patience (10:22) Maximizing Variables in Business (11:17) Good Businesses vs Bad Businesses (12:10) Incentives and the Success of Federal Express (13:09) The Value of Learning and Admitting Mistakes (14:07) Avoiding Extreme Ideologies and Trusting Experts (15:11) The Importance of Context and Individual Solutions (16:31) The Danger of Over-Specialization (17:28) Deserved Trust and Utilizing Missed Chances (18:03) Seeing Reality Clearly and Stating Arguments (19:02) Conclusion and Further Exploration Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. The Tao of Charlie Munger: Wisdom on Life, Business, and the Pursuit of Wealth For more, explore my full profile on Warren Buffett. Who is Charlie Munger? Wit and Wisdom From The World's Most Irreverent Billionaire Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
This conversation provides an overview of Charlie Munger's life, career, and investment philosophy. It explores Munger's role in shaping Berkshire Hathaway and his approach to investing in wonderful businesses at fair prices. Munger's background and early exposure to business are discussed, as well as his education and early career in law. The conversation also covers Munger's partnership with Warren Buffett and their investment strategies. Munger's investments in Blue Chip Stamp and Diversified Retailing Corporation are highlighted, along with his focus on better businesses. The conversation concludes with Munger's impact on Warren Buffett's investment style. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/179. Chapters (00:00) Introduction to Charlie Munger (02:18) Charlie Munger's Blueprint for Berkshire Hathaway (03:44) Charlie Munger's Approach to Investing (05:01) Charlie Munger's Background and Early Life (06:25) Charlie Munger's Exposure to Business (08:07) Charlie Munger's Education and Early Career (09:03) Charlie Munger's Transition to Full-Time Investing (10:24) Charlie Munger's Partnership with Warren Buffett (12:48) Charlie Munger's Investment Strategies (14:07) Charlie Munger's Investment in Blue Chip Stamp (16:52) Charlie Munger's Diversified Retailing Corporation (18:16) Charlie Munger's Focus on Better Businesses (19:14) Charlie Munger's New America Fund and Daily Journal Corporation (20:39) Charlie Munger's Role in Berkshire Hathaway (21:39) Charlie Munger's Impact on Warren Buffett's Investment Style Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. The Tao of Charlie Munger: Wisdom on Life, Business, and the Pursuit of Wealth For more, explore my full profile on Warren Buffett. Who is Charlie Munger? Wit and Wisdom From The World's Most Irreverent Billionaire Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
This conversation provides an overview of Charlie Munger's life, career, and investment philosophy. It explores Munger's role in shaping Berkshire Hathaway and his approach to investing in wonderful businesses at fair prices. Munger's background and early exposure to business are discussed, as well as his education and early career in law. The conversation also covers Munger's partnership with Warren Buffett and their investment strategies. Munger's investments in Blue Chip Stamp and Diversified Retailing Corporation are highlighted, along with his focus on better businesses. The conversation concludes with Munger's impact on Warren Buffett's investment style. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/179. Chapters (00:00) Introduction to Charlie Munger (02:18) Charlie Munger's Blueprint for Berkshire Hathaway (03:44) Charlie Munger's Approach to Investing (05:01) Charlie Munger's Background and Early Life (06:25) Charlie Munger's Exposure to Business (08:07) Charlie Munger's Education and Early Career (09:03) Charlie Munger's Transition to Full-Time Investing (10:24) Charlie Munger's Partnership with Warren Buffett (12:48) Charlie Munger's Investment Strategies (14:07) Charlie Munger's Investment in Blue Chip Stamp (16:52) Charlie Munger's Diversified Retailing Corporation (18:16) Charlie Munger's Focus on Better Businesses (19:14) Charlie Munger's New America Fund and Daily Journal Corporation (20:39) Charlie Munger's Role in Berkshire Hathaway (21:39) Charlie Munger's Impact on Warren Buffett's Investment Style Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. The Tao of Charlie Munger: Wisdom on Life, Business, and the Pursuit of Wealth For more, explore my full profile on Warren Buffett. Who is Charlie Munger? Wit and Wisdom From The World's Most Irreverent Billionaire Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
“What you need to do, I think, is constantly update your thesis as you go, which can allow for longer holding periods, because things do change. And at the same time, I go into investments with a multi-year horizon—but my thesis might be disproven fairly quickly.” – Dan Roller We explore investing in buy-and-build compounders in public markets. We're joined by Dan Roller, Founder and CIO of Maran Capital. Chapters (00:00:00) – Introduction (00:01:50) – MOI Global and Dan's start in the investment world (00:11:20) – The formation of Maran Capital (00:14:59) – Choosing your hunting ground and creating structural advantages (00:21:21) – Researching and choosing companies to invest in (00:28:27) – How building investment knowledge is like training for the Ironman (00:32:17) – Examples and basics of buy-and-build companies (00:41:04) – How buy-and-build can go wrong (00:51:40) – The value vs. growth debate (00:54:57) – Investing in SPACs (00:58:06) – Thesis drift and mental models (01:02:21) – Resources for learning about investing Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/21. About Maran Capital Dan Roller is Founder and CIO of Maran Capital Management, a boutique, values-driven investment manager that I've been following intently for the last few years. I love the way that Dan sees the world, and I never miss reading one of his investor letters. In this episode, we go deep on how becoming a better investor is similar to training for an Ironman competition, why Dan focuses on what he calls buy and build companies and some of his favorite historic and recent examples there, his approach to investing in special situations and what defines a good or bad opportunity. I get his thoughts on SPACs and why he sees some interesting opportunities in the world today. Dan is a remarkable investor. Before he founded Maran Capital management in 2015, he worked as an analyst for over a decade at firms like Credit Suisse First Boston, Impala Asset Management, Avesta Capital Advisors, and Scopus Asset Management. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
My favorite lessons on investing from Berkshire Hathaway's shareholder letters. All taken from "The Essays of Warren Buffett" by Lawrence Cunninghuman. Get Friday 5 delivered to your inbox every Friday at 8 AM Pacific Chapters (00:00) Introduction (03:01) Lesson 1: Seek to invest in businesses with excellent economics, able and honest management, at sensible prices. That's the magic formula. (07:29) Lesson 2: Don't be afraid to let a few investments grow to represent a large portion of your portfolio. That's inevitable if you do well. (10:44) Lesson 3: Invest in companies you expect to be as competitive 20 years from now. The best investments compound over decades. (13:52) Lesson 4: Forgot the growth versus value debate—they're two sides of one coin. Look for durable value and profitable growth in companies. (18:44) Lesson 5: Make Mr. Market your ally. Take advantage of his perpetual swings from euphoria to panic. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. The Essays of Warren Buffett: Warren's Ideas from 50+ Years Grouped by Topic Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
My favorite lessons on investing from Berkshire Hathaway's shareholder letters. All taken from "The Essays of Warren Buffett" by Lawrence Cunninghuman. Get Friday 5 delivered to your inbox every Friday at 8 AM Pacific Chapters (00:00) Introduction (03:01) Lesson 1: Seek to invest in businesses with excellent economics, able and honest management, at sensible prices. That's the magic formula. (07:29) Lesson 2: Don't be afraid to let a few investments grow to represent a large portion of your portfolio. That's inevitable if you do well. (10:44) Lesson 3: Invest in companies you expect to be as competitive 20 years from now. The best investments compound over decades. (13:52) Lesson 4: Forgot the growth versus value debate—they're two sides of one coin. Look for durable value and profitable growth in companies. (18:44) Lesson 5: Make Mr. Market your ally. Take advantage of his perpetual swings from euphoria to panic. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Explore my full summary for the book featured this week. The Essays of Warren Buffett: Warren's Ideas from 50+ Years Grouped by Topic Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
The Essays of Warren Buffett by Lawrence Cunningham For over 50 years, Warren Buffett has written an annual letter to Berkshire Hathaway's shareholders. Many people set it as a goal to read all of Warren's shareholder letters chronologically. Which is certainly a fascinating way to see how Berkshire Hathaway evolved year after year. This book is different. It breaks from this chronological order to instead group things Warren has said over the years by topic. So, for instance, you can see his ideas on the importance of culture or the power of incentives holistically — as a single body of work. What I love about this book is the focus on Warren's ideas. Warren Buffett has built one of the largest conglomerates in history — full of incredible companies from See's Candies to GEICO — from a standing start in 1965. I would argue that if you only have time to study one entrepreneur and investor, that you should study Warren Buffett. There's no better way to do that than with this book. I know it's one I'll be re-reading for the rest of my life. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/166. Listen to Part 1. https://www.outlieracademy.com/episode/165 Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Read the full book summary. The Essays of Warren Buffett: Warren's Ideas from 50+ Years Grouped by Topic For more, explore my full profile on Warren Buffett. Who is Warren Buffett? Wisdom From One of History's Greatest Investors and the Creator of Berkshire Hathaway Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
The Essays of Warren Buffett by Lawrence Cunningham For over 50 years, Warren Buffett has written an annual letter to Berkshire Hathaway's shareholders. Many people set it as a goal to read all of Warren's shareholder letters chronologically. Which is certainly a fascinating way to see how Berkshire Hathaway evolved year after year. This book is different. It breaks from this chronological order to instead group things Warren has said over the years by topic. So, for instance, you can see his ideas on the importance of culture or the power of incentives holistically — as a single body of work. What I love about this book is the focus on Warren's ideas. Warren Buffett has built one of the largest conglomerates in history — full of incredible companies from See's Candies to GEICO — from a standing start in 1965. I would argue that if you only have time to study one entrepreneur and investor, that you should study Warren Buffett. There's no better way to do that than with this book. I know it's one I'll be re-reading for the rest of my life. Listen to Part 1. https://www.outlieracademy.com/episode/165 Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Read the full book summary. The Essays of Warren Buffett: Warren's Ideas from 50+ Years Grouped by Topic Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
The Essays of Warren Buffett by Lawrence Cunningham For over 50 years, Warren Buffett has written an annual letter to Berkshire Hathaway's shareholders. Many people set it as a goal to read all of Warren's shareholder letters chronologically. Which is certainly a fascinating way to see how Berkshire Hathaway evolved year after year. This book is different. It breaks from this chronological order to instead group things Warren has said over the years by topic. So, for instance, you can see his ideas on the importance of culture or the power of incentives holistically — as a single body of work. What I love about this book is the focus on Warren's ideas. Warren Buffett has built one of the largest conglomerates in history — full of incredible companies from See's Candies to GEICO — from a standing start in 1965. I would argue that if you only have time to study one entrepreneur and investor, that you should study Warren Buffett. There's no better way to do that than with this book. I know it's one I'll be re-reading for the rest of my life. Listen to Part 2. https://www.outlieracademy.com/episode/166 Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Read the full book summary. The Essays of Warren Buffett: Warren's Ideas from 50+ Years Grouped by Topic Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
The Essays of Warren Buffett by Lawrence Cunningham For over 50 years, Warren Buffett has written an annual letter to Berkshire Hathaway's shareholders. Many people set it as a goal to read all of Warren's shareholder letters chronologically. Which is certainly a fascinating way to see how Berkshire Hathaway evolved year after year. This book is different. It breaks from this chronological order to instead group things Warren has said over the years by topic. So, for instance, you can see his ideas on the importance of culture or the power of incentives holistically — as a single body of work. What I love about this book is the focus on Warren's ideas. Warren Buffett has built one of the largest conglomerates in history — full of incredible companies from See's Candies to GEICO — from a standing start in 1965. I would argue that if you only have time to study one entrepreneur and investor, that you should study Warren Buffett. There's no better way to do that than with this book. I know it's one I'll be re-reading for the rest of my life. Watch and listen Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Read the full book summary The Essays of Warren Buffett: Warren's Ideas from 50+ Years Grouped by Topic Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
The Playing Field by Graham Duncan is BY FAR the best piece of writing I've read on the journey we must all make to reach mastery in our fields. While Graham writes about the journey to master the art of investing, everything in it is broadly generalizable. In Graham's view we must all progress from apprentice, to professional, to self-actualization, operating at scale with impact, and eventually (if we make it) mentoring the new generation. It's a wonderful meditation on mastery — what it is, what it looks like, and most importantly the journey to get there. Watch and listen Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Read the full essay The Playing Field by Graham Duncan Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
The Playing Field by Graham Duncan is BY FAR the best piece of writing I've read on the journey we must all make to reach mastery in our fields. While Graham writes about the journey to master the art of investing, everything in it is broadly generalizable. In Graham's view we must all progress from apprentice, to professional, to self-actualization, operating at scale with impact, and eventually (if we make it) mentoring the new generation. It's a wonderful meditation on mastery — what it is, what it looks like, and most importantly the journey to get there. Watch and listen Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Read the full essay The Playing Field by Graham Duncan Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Learn more about your ad choices. Visit megaphone.fm/adchoices
Subscribe to newsletter: https://newsletter.outlieracademy.com Subscribe to podcast: https://pod.link/outlieracademy In 2016, Apple published a limited edition anthology, chronicling the last 20 years of Apple's designs simply titled Designed by Apple in California. The book is dedicated to the memory of Steve Jobs. “The idea of genuinely trying to make something great for humanity was Steve's motivation from the beginning, and it remains both our ideal and our goal as Apple looks to the future,” said Jony Ive, Apple's chief design officer. “This archive is intended to be a gentle gathering of many of the products the team has designed over the years. We hope it brings some understanding to how and why they exist, while serving as a resource for students of all design disciplines.” The book was written and curated over an eight-year period by Jony Ive and features photos by award-winning photographer Andrew Zuckerman. All of the photos were shot in a deliberately spare style that has become a hallmark of Apple's design aesthetic. The books 450 images illustrates Apple's design process as well as its finished products. This is a breakdown of Jony Ive's introduction at the beginning of the book. Learn more about Steve Jobs: https://www.danielscrivner.com/articles/who-was-steve-jobs-wisdom-from-the-man-who-built-apple-and-pixar Learn more about your ad choices. Visit megaphone.fm/adchoices
Subscribe to newsletter: https://newsletter.outlieracademy.com Subscribe to podcast: https://pod.link/outlieracademy In 2016, Apple published a limited edition anthology, chronicling the last 20 years of Apple's designs simply titled Designed by Apple in California. The book is dedicated to the memory of Steve Jobs. “The idea of genuinely trying to make something great for humanity was Steve's motivation from the beginning, and it remains both our ideal and our goal as Apple looks to the future,” said Jony Ive, Apple's chief design officer. “This archive is intended to be a gentle gathering of many of the products the team has designed over the years. We hope it brings some understanding to how and why they exist, while serving as a resource for students of all design disciplines.” The book was written and curated over an eight-year period by Jony Ive and features photos by award-winning photographer Andrew Zuckerman. All of the photos were shot in a deliberately spare style that has become a hallmark of Apple's design aesthetic. The books 450 images illustrates Apple's design process as well as its finished products. This is a breakdown of Jony Ive's introduction at the beginning of the book. Learn more about Steve Jobs: https://www.danielscrivner.com/articles/who-was-steve-jobs-wisdom-from-the-man-who-built-apple-and-pixar Learn more about your ad choices. Visit megaphone.fm/adchoices
In Episode #118, we explore healthcare as a product rather than a service. We're joined by Adrian Aoun, Forward's CEO and Founder, and we cover why healthcare should be a product, not a service, being problem-oriented as a founder, and why the health insurance industry is destined to fall. “Solutions don't really matter. Problems matter.” – Adrian Aoun EPISODE GUIDE (LINKS, QUOTES, NOTES, AND BOOKS MENTIONED) https://www.outlieracademy.com/episode/118 FULL TEXT TRANSCRIPT https://www.outlieracademy.com/episode/118 CHAPTERS This episode is our definitive guide to healthcare as a product rather than a service. In it we cover: 00:00:00 – Introduction 00:02:37 – From Google to Forward 00:09:01 – Why founders should be problem-oriented 00:12:31 – Advising the President on the future of technology 00:17:22 – The root problem of the healthcare industry 00:25:24 – Why healthcare should be a product, not a service 00:30:01 – The imminent fall of health insurance 00:35:06 – Does the healthcare system really matter? 00:45:47 – Why medical specialties don't make sense 00:55:02 – How Forward is a mission that happens to have a company attached to it ABOUT FORWARD Adrian Aoun is founder and CEO of Forward, which is building an insurance-free healthcare system focused on preventative healthcare from the ground up. Forward was founded in 2017 to invert the typical model of healthcare, which follows the service model where one patient sees a single doctor whenever they need care. Forward is building healthcare focused on health and preventative care that's 1) productized so you can use it anytime, anywhere, 2) scalable so it's affordable to everyone, and 3) always on with help available through the Forward app and a network of offices around the US. This might sound like, well, how healthcare should have been all along, which is the goal. This episode is a special one. In it we cover why Adrian is fanatical about being problem-focused rather than solution-focused, what he learned leading special projects for Sergey Brin at Google, and why Forward is focused on productizing healthcare to bring down the cost of treatments, make healthcare available 24/7, help customers manage all aspects of their health, and increase the pace of innovation and iteration. Adrian shares his perspective on what happens as the percentage of GDP dedicated to healthcare reaches 30% and even 40%, and he talks through how he uses extreme perspectives to pick apart complex issues and come to ground truths.
In Episode #118, we explore healthcare as a product rather than a service. We're joined by Adrian Aoun, Forward's CEO and Founder, and we cover why healthcare should be a product, not a service, being problem-oriented as a founder, and why the health insurance industry is destined to fall. “Solutions don't really matter. Problems matter.” – Adrian Aoun EPISODE GUIDE (LINKS, QUOTES, NOTES, AND BOOKS MENTIONED) https://www.outlieracademy.com/episode/118 FULL TEXT TRANSCRIPT https://www.outlieracademy.com/episode/118 CHAPTERS This episode is our definitive guide to healthcare as a product rather than a service. In it we cover: 00:00:00 – Introduction 00:02:37 – From Google to Forward 00:09:01 – Why founders should be problem-oriented 00:12:31 – Advising the President on the future of technology 00:17:22 – The root problem of the healthcare industry 00:25:24 – Why healthcare should be a product, not a service 00:30:01 – The imminent fall of health insurance 00:35:06 – Does the healthcare system really matter? 00:45:47 – Why medical specialties don't make sense 00:55:02 – How Forward is a mission that happens to have a company attached to it ABOUT FORWARD Adrian Aoun is founder and CEO of Forward, which is building an insurance-free healthcare system focused on preventative healthcare from the ground up. Forward was founded in 2017 to invert the typical model of healthcare, which follows the service model where one patient sees a single doctor whenever they need care. Forward is building healthcare focused on health and preventative care that's 1) productized so you can use it anytime, anywhere, 2) scalable so it's affordable to everyone, and 3) always on with help available through the Forward app and a network of offices around the US. This might sound like, well, how healthcare should have been all along, which is the goal. This episode is a special one. In it we cover why Adrian is fanatical about being problem-focused rather than solution-focused, what he learned leading special projects for Sergey Brin at Google, and why Forward is focused on productizing healthcare to bring down the cost of treatments, make healthcare available 24/7, help customers manage all aspects of their health, and increase the pace of innovation and iteration. Adrian shares his perspective on what happens as the percentage of GDP dedicated to healthcare reaches 30% and even 40%, and he talks through how he uses extreme perspectives to pick apart complex issues and come to ground truths.
Here are five ideas, quotes, and stories from "Insanely Simple: The Obsession That Drives Apple's Success" by Ken Segall who worked with Steve to name the iMac and launch the Think Different campaign. Five of my favorite ideas and stories on simplicity from Steve Jobs: Start with small groups of smart people—and keep them small. People will always respond better to a single idea expressed clearly. “1,000 songs in your pocket” and the power of speaking human. Good enough is not good enough. Be a ruthless enforcer of high standards. In a complicated world, marketing is about values. Read this episode on Substack: https://newsletter.outlieracademy.com/p/5-lessons-on-simplicity-from-steve Watch this episode on YouTube: https://youtu.be/YDezSVbdGy4 Buy the book: https://amzn.to/47HC36Q Subscribe to newsletter: https://newsletter.outlieracademy.com/subscribe Subscribe to podcast: https://pod.link/outlieracademy Learn more about your ad choices. Visit megaphone.fm/adchoices
"Simple can be harder than complex. You have to work hard to get your thinking clean, to make it simple. But it's worth it in the end, because once you get there, you can move mountains." — Steve Jobs Watch on YouTube: https://www.youtube.com/watch?v=eqjzmm-wkoo Read the newsletter version: https://newsletter.outlieracademy.com/p/insanely-simple-book-breakdown-part-2 Show notes: https://www.outlieracademy.com/episode/175 Buy the book: https://amzn.to/47HC36Q To Steve Jobs, simplicity was a religion. It was also a weapon. Revolution after revolution, Jobs proved that Simplicity is the most powerful force in business. It guides the way Apple is organized, how it designs products, and how it connects with customers. As ad agency creative director, Ken Segall played a key role in Apple's resurrection after Steve Jobs returned. He helped create such marketing campaigns as Think Different. By naming the iMac, he also laid the foundation for naming waves of i-products to come. Now Segall puts you inside a conference room with Jobs and on the receiving end of his midnight phone cals. You'll understand how his obsession with Simplicity helped Apple perform better and faster, sometimes saving millions in the process. You'll also learn the ten elements of Simplicity that have driven Apple's historic success — which you can use to propel your own organization. Subscribe to newsletter: https://newsletter.outlieracademy.com Subscribe to podcast: https://pod.link/outlieracademy Learn more about Steve Jobs: https://www.danielscrivner.com/articles/who-was-steve-jobs-wisdom-from-the-man-who-built-apple-and-pixar Learn more about your ad choices. Visit megaphone.fm/adchoices
"Simple can be harder than complex. You have to work hard to get your thinking clean, to make it simple. But it's worth it in the end, because once you get there, you can move mountains." — Steve Jobs Watch on YouTube: https://www.youtube.com/watch?v=eqjzmm-wkoo Read the newsletter version: https://newsletter.outlieracademy.com/p/insanely-simple-book-breakdown-part-2 Show notes: https://www.outlieracademy.com/episode/175 Buy the book: https://amzn.to/47HC36Q To Steve Jobs, simplicity was a religion. It was also a weapon. Revolution after revolution, Jobs proved that Simplicity is the most powerful force in business. It guides the way Apple is organized, how it designs products, and how it connects with customers. As ad agency creative director, Ken Segall played a key role in Apple's resurrection after Steve Jobs returned. He helped create such marketing campaigns as Think Different. By naming the iMac, he also laid the foundation for naming waves of i-products to come. Now Segall puts you inside a conference room with Jobs and on the receiving end of his midnight phone cals. You'll understand how his obsession with Simplicity helped Apple perform better and faster, sometimes saving millions in the process. You'll also learn the ten elements of Simplicity that have driven Apple's historic success — which you can use to propel your own organization. Subscribe to newsletter: https://newsletter.outlieracademy.com Subscribe to podcast: https://pod.link/outlieracademy Learn more about Steve Jobs: https://www.danielscrivner.com/articles/who-was-steve-jobs-wisdom-from-the-man-who-built-apple-and-pixar Learn more about your ad choices. Visit megaphone.fm/adchoices
"Simple can be harder than complex. You have to work hard to get your thinking clean, to make it simple. But it's worth it in the end, because once you get there, you can move mountains." — Steve Jobs Watch on YouTube: https://youtu.be/d3IRe7CVkA0 Read the newsletter version: https://newsletter.outlieracademy.com/p/insanely-simple-book-breakdown Show notes: https://www.outlieracademy.com/episode/174 Buy the book: https://amzn.to/47HC36Q To Steve Jobs, simplicity was a religion. It was also a weapon. Revolution after revolution, Jobs proved that Simplicity is the most powerful force in business. It guides the way Apple is organized, how it designs products, and how it connects with customers. As ad agency creative director, Ken Segall played a key role in Apple's resurrection after Steve Jobs returned. He helped create such marketing campaigns as Think Different. By naming the iMac, he also laid the foundation for naming waves of i-products to come. Now Segall puts you inside a conference room with Jobs and on the receiving end of his midnight phone cals. You'll understand how his obsession with Simplicity helped Apple perform better and faster, sometimes saving millions in the process. You'll also learn the ten elements of Simplicity that have driven Apple's historic success — which you can use to propel your own organization. Subscribe to newsletter: https://newsletter.outlieracademy.com Subscribe to podcast: https://pod.link/outlieracademy Learn more about Steve Jobs: https://www.danielscrivner.com/articles/who-was-steve-jobs-wisdom-from-the-man-who-built-apple-and-pixar Learn more about your ad choices. Visit megaphone.fm/adchoices
"Simple can be harder than complex. You have to work hard to get your thinking clean, to make it simple. But it's worth it in the end, because once you get there, you can move mountains." — Steve Jobs Watch on YouTube: https://youtu.be/d3IRe7CVkA0 Read the newsletter version: https://newsletter.outlieracademy.com/p/insanely-simple-book-breakdown Show notes: https://www.outlieracademy.com/episode/174 Buy the book: https://amzn.to/47HC36Q To Steve Jobs, simplicity was a religion. It was also a weapon. Revolution after revolution, Jobs proved that Simplicity is the most powerful force in business. It guides the way Apple is organized, how it designs products, and how it connects with customers. As ad agency creative director, Ken Segall played a key role in Apple's resurrection after Steve Jobs returned. He helped create such marketing campaigns as Think Different. By naming the iMac, he also laid the foundation for naming waves of i-products to come. Now Segall puts you inside a conference room with Jobs and on the receiving end of his midnight phone cals. You'll understand how his obsession with Simplicity helped Apple perform better and faster, sometimes saving millions in the process. You'll also learn the ten elements of Simplicity that have driven Apple's historic success — which you can use to propel your own organization. Subscribe to newsletter: https://newsletter.outlieracademy.com Subscribe to podcast: https://pod.link/outlieracademy Learn more about Steve Jobs: https://www.danielscrivner.com/articles/who-was-steve-jobs-wisdom-from-the-man-who-built-apple-and-pixar Learn more about your ad choices. Visit megaphone.fm/adchoices
"It is easy to forget that, when he was a student, the man who brought us the Macintosh, iPhone and iPad (and, with his little finger, Pixar) collected bottle caps to make ends meet. The need to stretch every nickel informed the way Apple was run during the early days." In 2015, Mike Moritz wrote an opinion piece for The Financial Times called "Imitators take note — Steve Jobs was more than a showman." It's a great reminder that the best businesses — including Apple — are the most capital efficient businesses. That what matters isn't how much you raise, but the business you build with what you raise. And that even Apple, started out life being incredibly cheap and capital efficient. Being frugal and stretching every nickel ensures that your business is as durable as possible. While revenue will always ebb and flow, expenses are typically subject to inertia. Expenses tend to build up invisibly, almost imperceptibly, and can require heroic acts to shrink. While is why it's so important to build a culture of frugality from Day One — ensuring that as many dollars spent as possible go toward strategic expenses that sustain and grow your business. Watch on YouTube: https://youtu.be/aoDwtbLW71I Show notes: https://www.outlieracademy.com/episode/173 Read the newsletter for this episode: https://newsletter.outlieracademy.com/p/essay-breakdown-imitators-take-note Subscribe to newsletter: https://newsletter.outlieracademy.com Subscribe to podcast: https://pod.link/outlieracademy Learn more about Steve Jobs: https://www.danielscrivner.com/articles/who-was-steve-jobs-wisdom-from-the-man-who-built-apple-and-pixar Learn more about your ad choices. Visit megaphone.fm/adchoices
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