Podcast Notes Playlist: Business

Founders ✓ Claim 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.” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes 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. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

Invest Like the Best Key Takeaways  Time is the best filter: History's top entrepreneurs were completely focused over a long periodThe essential maxims from the episodeIt does not matter the pursuit; what matters is having a missionA great business takes time Find a simple idea and take it seriously – Charlie Munger Do one thing, and do it better than anyone else – Todd Graves Learning is not memorizing information; learning is changing your behavior The reward for great work is more work – Kevin Kelly  The hard way is the right way – Jerry Seinfeld  Be less interested in timely and more interested in timeless Overpay for talent because you really cannot overpay for talent Limit the amount of details, then make every detail perfect Pay attention to the nickels because the nickels turn into quarters Mediocrity is invisible until passion shows up and exposes it – Michael Ovitz The most successful businesses go ridiculously far in maximizing or minimizing one or a few variables Great entrepreneurs find opportunity in catastrophe Learning about history's most ambitious people stretches your imagination for what is possible in life “You think what you want is money, but what you really want is meaning.” – David SenraJust keep going; you will figure it out – have the self-belief and keep going Read the full notes @ podcastnotes.orgMy guest today is David Senra. David is the host of Founders podcast and a dear friend. This is our third time doing Invest Like the Best together and we have conversations like this one all the time. In today's episode, David distills wisdom from 400 entrepreneur biographies into a single word: focus. He reveals why exceptional builders like Todd Graves and James Dyson create billion-dollar empires through obsessive dedication to simple ideas—whether perfecting chicken fingers or designing vacuum cleaners—while rejecting conventional growth timelines and investor pressure. David challenges us all to find the one thing we'd pursue even without recognition or reward, or what I like to call your life's work. We discuss the concept of “anti-business,” raising capital as a founder, and decades-long commitment. Please enjoy this discussion with David Senra.  For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. –  This episode is brought to you by AlphaSense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. – This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Head to ridgelineapps.com to learn more about the platform. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:05:43) The Essence of Focus in Entrepreneurship (00:09:20) The Value of Long-Term Commitment (00:17:41) The Importance of Simplicity and Mastery (00:37:11) The Miracle of Entrepreneurship (00:44:56) James Dyson's Journey to Success (00:47:03) The Importance of Passion in Business (00:49:12) Critique of Modern Consumerism (00:52:18) The Value of Craftsmanship (00:56:36) The Drive for Excellence (01:04:06) The Importance of Hiring Top Talent (01:09:54) Creative Financing Strategies (01:19:35) Defining a Founder

My First Million Key Takeaways  Everything is an issue of agency; agency is the most valuable skill for any founderWork from a creative mindset by actively applying your sense of agency: Write down the value, how you can display it, and then do the thing Getting Ted Lasso'd: When a Brit with twice the intelligence and knowledge gets outperformed by the American who has 10x the agency and confidencePay attention to your ideas that make you laugh; if they elicit this type of emotion in you, then you might be onto something If you wait for the news, you will be wrong or lateWhat is ignored by the media today that will be studied by future historians?  Leverage on high agency has never been higher, thanks to modern AI tools Some people let reality happen to them and then use words to describe it, while others use words to edit and shape their reality Language shapes the world around usMinimize “should” from your vocabulary and start doing!The best way to increase your agency is to hang around people with high agencyIdeas are avocados: they are perishable – there is no time like the present to work on your idea The high-agency approach to problem solving: Ask “Why, Why, Why?” and continue to drill down on the problem until you arrive at the fundamental issue upon which you can take action today Speed is negotiable: Mobilize your army, which is your ideas, your resources, and your intention, to achieve your goal in much less time than you perceive to be possible Read the full notes @ podcastnotes.orgEpisode 703: Sam Parr ( https://x.com/theSamParr ) and Shaan Puri ( https://x.com/ShaanVP ) talk to George Mack ( https://x.com/george__mack ) about high agency.  — Links: • Steal Sam's guide to turn ChatGPT into your Executive Coach: https://clickhubspot.com/wec • High Agency - https://www.highagency.com/  • Nick Mowbray episode - https://www.youtube.com/watch?v=4pHcxoZ0j9A  — Check Out Shaan's Stuff: Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it's called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam's List - http://samslist.co/ My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

Conversations with Tyler Key Takeaways  “Looking way forward, we are on an unsustainable path.” – Kenneth Rogoff on the US fiscal situation The debt continues to balloon and another inflationary impulse is on the horizon Higher taxation is likely as a means to manage the deficit Japan has been effective at becoming sclerotic slowly, but their economic model is not worth imitating – especially if you are trying to compete with China Japan could be in serious trouble: It is finally experiencing inflation, needing to raise interest rates, has stuffed government debt into every orifice of its economy, and cutting old-age benefits to pay its growing interest expense“I think this is absolutely an existential crisis for Europe. It may lead to them becoming more cohesive. It may lead to them becoming more of a geopolitical power, but yes, they are going to have to make choices that they haven't had to make.” – Kenneth Rogoff on the economic situation in Europe The US brain drain of Europe's top talent contributes to Europe's slow economic growthSuddenly, the United States spends more on interest expense than it does on defense spendingThe fact that real interest rates appear to have regressed to their long-term trend is the most important macro change in the world The US should not be the first nation to implement a CBDC, if it ultimately chooses to do soWhy change the rules of the game if we are on top and winning? The US is so big that we are probably headed towards having competitive stable coins instead of a single CBDC Bet on mean reversion: For many variables, it's wise to assume they'll eventually drift back toward their average – it's a useful principle to keep in mindThe predictability of political business cycles: Those in power ignore the debt, the problem grows, and we end up exactly where we are nowChoosing the optimal inflation rate is one of the greatest macro puzzles – should it be 0%, 2%, 4%, or something else? China has dug itself in a very deep hole that will be difficult to dig out of: Innovation is required for a successful economy; just growing by building more roads and infrastructure will result in diminishing returns Read the full notes @ podcastnotes.org Harvard economist Kenneth Rogoff approaches global finance with the same strategic foresight that made him a chess grandmaster. Author of the new book Our Dollar, Your Problem, Rogoff doesn't sugarcoat America's future: he foresees a significant inflation shock within a decade, far more severe than the post-COVID bout. When this second wave hits, he warns, "credibility's really going to be shot." In this conversation, Ken and Tyler tackle international economic dynamics, unresolved macro puzzles, the state of chess, and more, including whether trade deficits are truly unsustainable, why China's investment-heavy growth model has reached its limits, how currency depreciation neutralizes tariff effects, Pakistan's IMF bailouts, whether more Latin American countries should dollarize, Japan's deceptively peaceful economic decline, Europe's coming fiscal reckoning, how the US will eventually confront its ballooning debt, the puzzling absence of a recession during our recent disinflation, the potential of phasing out large denomination currency notes, the future relevance of stablecoins, whether America should start a CBDC, Argentina's chances under Milei, who will be the next dominant player in chess, hanging out with Bobby Fischer, drawing out against Magnus Carlsen, and how to save classical chess from excessive computer preparation. Read a full transcript enhanced with helpful links, or watch the full video. Recorded April 2nd, 2025. Help keep the show ad free by donating today! Other ways to connect Follow us on X and Instagram Follow Tyler on X Follow Kenneth on X Sign up for our newsletter Join our Discord Email us: cowenconvos@mercatus.gmu.edu Learn more about Conversations with Tyler and other Mercatus Center podcasts here.

Infinite Loops Key Takeaways  AI is not thinking-as-a-service but collaboration-as-a-service: The wrong way to approach AI is to sit back and see what it comes up with; the right way is to tinker with it and poke it in different ways so that novel patterns emergeBanning AI in schools is like stopping humans from using fire because they might burn themselvesAfter discovering how to use fire, we created fire departments, firemen, and fire exits; the same thing will happen with AI“AI is a mirror, not a mold.” – Jim O'Shaughnessy Creation is fundamentally about choices: The choices reflect what the creator considers; the creation is the result of what the creator decidesThe best writers use the best prompts – the same skills that make them great writers help them get the best from AI“A lot of things that are revolutionary in the history of technology have taken something that was encoded into the substrate and then made it an abstraction.” – Nathan Baschez AI in 2025 is roughly where the internet was in 1995: So even if there is an AI ‘crash', value creation will take place post-crash just as it did with internet companies following the Dot Com BubbleUnderstanding cumulative cultural evolution: Recognizing cultural shifts before others do gives you a competitive edge in both life and business The thinking that you should let the world pull companies out of your creative projects may be wrong; the vast majorities of successful businesses were started by people who wanted to create a successful business  Do not fall victim to the “Disney Princess Co-Founder” Fallacy: Instead of waiting to start because you have not found the perfect co-founder, just start on your idea!A common misconception about writing is that it is not only a way to communicate our thoughts, but also a way to formulate our thoughts Learn more by doing: Set aside preconceived expectations and follow your curiosityRead the full notes @ podcastnotes.orgNathan Baschez is the cofounder and CEO of Lex, an AI word-processor. He also cofounded Every, was the first employee at Substack AND co-created Product Hunt. Suffice to say, Nathan knows a thing or two about building on the internet. He joins the show to discuss how AI is changing writing, why it's time to rethink the article, the rise of solo founders and MUCH more. I hope you enjoy this conversation as much as I did. For the full transcript, episode takeaways, and bucketloads of other goodies designed to make you go, “Hmm, that's interesting!”, check out our Substack. Important Links: Lex Twitter Substack LinkedIn Show Notes: Lex: Your Spotter In the Writing Gym Letting People Into Your Creative Process Collaboration-as-a-Service Creation Is Fundamentally About Choices What Will Become of the AI Holdouts? AI Is Like the Internet In 1995 Can AI Unfuck the Government? Blindspots While Working In Organizations Rethinking The ‘Article' As A Medium Memes Are Dense Information Packets It's Time for Solo Founders Why Learning About Cumulative Cultural Evolution Is Vital What's Next for Lex? Writing As A Way To Design Thoughts Nathan As World Emperor Books Mentioned: A Swim in a Pond in the Rain: In Which Four Russians Give a Master Class on Writing, Reading, and Life; by George Saunders The WEIRDest People in the World: How the West Became Psychologically Peculiar and Particularly Prosperous; by Joseph Henrich The Secret of Our Success: How Culture Is Driving Human Evolution, Domesticating Our Species, and Making Us Smarter; by Joseph Henrich

The Daily Stoic The White Lotus season finale aired Sunday, titled "Amor Fati"—and without giving away any spoilers, it served as a powerful reminder of a timeless philosophy: to love one's fate.

Shawn Ryan Show Key Takeaways  Embracing the Founder Persona in America: The founder persona is a unique legacy of America that we should celebrate and embrace Rethinking the Software-Industrial Complex: If software is so great, why does nothing seem to work? Perhaps we need to reevaluate whether the software-industrial complex is genuinely serving society, or merely claiming to Data is not the “new oil”; data is the new snake oil: There is nothing inherently valuable about data – it is only valuable if you can use it to make a decision  Read the full notes @ podcastnotes.orgShyam Sankar is the Chief Technology Officer at Palantir Technologies. A builder at heart, he's spent over 20 years designing and deploying cutting-edge software and AI for both government and private sector partners. As Palantir's 13th hire, Shyam helped take the company from scrappy startup to S&P 500 powerhouse. A relentless opponent of inefficiency and red tape, Shyam has made it his mission to overhaul the institutions holding America back—starting with the government. His focus? The Defense Reformation: a bold effort to transform how the U.S. military buys, builds, and fights so we can win—and keep winning. Shawn Ryan Show Sponsors: https://roka.com - use code SRS https://tryarmra.com/SRS https://BetterHelp.com/SRS https://Blackbuffalo.com https://boncharge.com/SRS https://MeetFabric.com/SHAWN https://ShawnLikesGold.com | 855-936-GOLD https://Helixsleep.com/SRS https://hexclad.com/SRS https://hillsdale.edu/SRS https://PatriotMobile.com/SRS | 972-PATRIOT https://prizepicks.onelink.me/LME0/SRS Download the app today and use code SRS https://RocketMoney.com/SRS Shyam Sankar Links: X - https://x.com/ssankar Substack - https://www.shyamsankar.com LinkedIn - https://www.linkedin.com/in/shyamsankar On The Defense Reformation - https://18theses.com First Breakfast - https://www.firstbreakfast.com Learn more about your ad choices. Visit podcastchoices.com/adchoices

Real Vision Classics Key Takeaways  The time to start your art is now; without action, nothing will happenStart creating your art before you feel ready; you will discover the answers along the way Use labels to elevate your ambition: Your identity will conform to the words you use to describe yourself Half the magic is in *not* knowing; the magic exists in what you don't know, but will soon discover Life and art should be the same; you write your own story in life – the story of who you are, what you are going to become, and what you are going to achieve  If you do not have fear about something that you are going to do today, then you are probably wasting your time Remove ego from the creative process and be a conduit for the creative spirit to come through you  Don't parent, partner: If you want your relationship with your kids to last a long time, then partner with them and be their mentor instead of parenting them “The biggest obstacle in your life is you, always.” – Robert Rodriquez Read the full notes @ podcastnotes.org

All-In with Chamath, Jason, Sacks & Friedberg Intro  Necessity is the mother of innovation: “We are putting enough friction into the system that it does theoretically give America an advantage at the cost of creating tremendous incentives for China to develop their semiconductor ecosystem.” – Gavin Baker Prohibiting China's access to Nvidia GPUs encourages China to create its own Nvidia, though it may take a decade for it to do so If progress in the AI agent space continues, the only rate-limiting factor to its widespread adoption will be compute power; the days of AI agents competing in all of our daily tasks is a long time away because this will require so much computing, and the capacity does not exist yet Most everybody agrees that deregulation is good: Every time the admin says the word “tariff” it should say “deregulation” three times afterThe best way to encourage the reshoring of key industries is just making it easier to do business in AmericaThe US must figure out the difference between manufacturing and IP so that we can trap the real value of these industries back in AmericaThe admin is focused on making life better for normal, working-class Americans The goal of the tariffs is to restore the industries that can be restored into the US; but implementing them may create externalities, such as inflation and retaliatory tariffs The globalized “free trade” model of the last twenty years has benefitted US knowledge workers, but it has left the everyday American behind On DOGE: While Democrats and Republicans may disagree on where the government spends its money, both sides should want the spending to be efficient Using the Alien Enemies Act of 1798, the Trump admin has deported 238 alleged gang members to El Salvador's high-security CECOT prison The last use of this act was during World War II under President Franklin D. Roosevelt, who ordered the deportation of thousands of Germans, Italians, and JapaneseSince 2015, El Salvador has slashed its murder rate by 99% through widespread arrests of suspected gang members without due process  “The one thing I learned: Everybody in America is always focused on making America better. Having been to eighty different places around the world, our only goal should be to not screw it up in America. Just don't make it worse, because America is so much better than everywhere else.”  – Gavin sharing a quote from a Navy SEALRead the full notes @ podcastnotes.org(0:00) The Besties welcome Gavin Baker back on the show! (1:20) Nvidia balance sheet questions, CoreWeave IPO, M&A/IPO bounce back (16:22) US vs China in AI: Manus, China building its own Nvidia, and more (28:37) The Administration's endgame for tariffs (53:05) Signalgate: context and fallout (1:09:42) El Salvador deportations Follow Gavin: https://x.com/GavinSBaker Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: https://www.reuters.com/technology/coreweave-planning-cut-us-ipo-size-price-below-range-source-says-2025-03-27 https://www.reuters.com/world/us/us-adds-dozens-entities-export-restriction-list-2025-03-25 https://modelcontextprotocol.io/introduction https://www.theinformation.com/articles/openai-plots-charging-20-000-a-month-for-phd-level-agents?rc=pxkrxo https://www.youtube.com/watch?v=A8wJc7vHcTs https://x.com/JohnArnoldFndtn/status/1905296181208416744 https://x.com/chamath/status/1904547884877701610 https://www.theatlantic.com/politics/archive/2025/03/trump-administration-accidentally-texted-me-its-war-plans/682151 https://www.whitehouse.gov/presidential-actions/2025/03/invocation-of-the-alien-enemies-act-regarding-the-invasion-of-the-united-states-by-tren-de-aragua https://www.statista.com/statistics/696152/homicide-rate-in-el-salvador https://x.com/Sec_Noem/status/1905034256826408982

Tetragrammaton with Rick Rubin ✓ Claim Key Takeaways Check out the Tetragrammaton episode pageRead the full notes @ podcastnotes.orgMel Ziegler is the co-founder of Banana Republic and The Republic of Tea. In 1978, with $1,500 in savings and no prior business experience, he and his wife, Patricia Ziegler, launched Banana Republic, reimagining military surplus as stylish safari and expedition wear. After leaving the company, the duo went on to co-found tea company The Republic of Tea with Bill Rosenzweig. Ziegler is also the co-author of the memoir Wild Company: The Untold Story of Banana Republic, chronicling their unconventional entrepreneurial journey. Before his business ventures, he worked as a journalist for the Miami Herald and the San Francisco Chronicle, and he wrote for New York Magazine. A multi-faceted creative, Ziegler has also been an abstract painter for nearly 30 years. ------ Thank you to the sponsors that fuel our podcast and our team: Athletic Nicotine https://www.athleticnicotine.com/tetra Use code 'TETRA' ------ Squarespace https://squarespace.com/tetra Use code 'TETRA' ------ LMNT Electrolytes https://drinklmnt.com/tetra Use code 'TETRA' ------ Sign up to receive Tetragrammaton Transmissions https://www.tetragrammaton.com/join-newsletter

Modern Wisdom Key Takeaways  Everything is an agency issue; all problems are solvable with enough knowledgeAll the progress that the human species has made is due to agency; from the air conditioned rooms we sit in, to the clothes we wear, to the cars we drive – everything is agencyThe four ingredients for high agency: clear thinking, resourcefulness, bias to action, disagreeability Avoid the Rumination Trap, which is a mental loop where overthinking disguise itself as problem-solving but actually leads to inaction, anxiety, and wasted energy If you want to be high agency, you must be intentional and decisive; mid-wits try to appear smarter than they actually are by overcomplicating thingsGeneral ambition gives you anxiety; specific ambition gives you direction Fundamentally, there is no “way” apart from the the one that works; focus on outputs instead of inputs  There may be a range of outcomes in which you have the capacity to achieve, but within that range, everything is exclusively on you Inverse Charisma: The people who are most well-liked are the people who make other people feel the most interestingThere is no memory of normal; the only thing we remember about someone is their weird eccentricities – much of life consists of getting back to our childlike curiosities “High agency is the most under-discussed and most important idea in the 21st century.” – George Mack  Read the full notes @ podcastnotes.orgSponsors: See discounts for all the products I use and recommend: https://chriswillx.com/deals Get $350 off the Pod 4 Ultra at https://eightsleep.com/modernwisdom (use code MODERNWISDOM) Get the best bloodwork analysis in America at https://functionhealth.com/modernwisdom Get a Free Sample Pack of all LMNT Flavours with your first purchase at https://drinklmnt.com/modernwisdom Get a 20% discount on the best supplements from Momentous at https://livemomentous.com/modernwisdom Extra Stuff: Get my free reading list of 100 books to read before you die: https://chriswillx.com/books Try my productivity energy drink Neutonic: https://neutonic.com/modernwisdom Episodes You Might Enjoy: #577 - David Goggins - This Is How To Master Your Life: https://tinyurl.com/43hv6y59 #712 - Dr Jordan Peterson - How To Destroy Your Negative Beliefs: https://tinyurl.com/2rtz7avf #700 - Dr Andrew Huberman - The Secret Tools To Hack Your Brain: https://tinyurl.com/3ccn5vkp - Get In Touch: Instagram: https://www.instagram.com/chriswillx Twitter: https://www.twitter.com/chriswillx YouTube: https://www.youtube.com/modernwisdompodcast Email: https://chriswillx.com/contact - Learn more about your ad choices. Visit megaphone.fm/adchoices

All-In with Chamath, Jason, Sacks & Friedberg Key Takeaways  “The key is to stop sending money to the wrong place so that we can always defend sending money to the right place.” – Howard Lutnick If Howard balances the budget, Trump agrees to waive all income tax for people who make less than $150,000 per year About $1 trillion per year can be saved by cutting government waste, fraud, and abuse; this is DOGE's target – and it is Howard's job to generate $1 trillion in exogenous new revenues for the government There is no such thing as free and fair trade: Inflation comes from printing more money, not from tariffs; the strategy is to put tariffs on things that will reshore Establishing the External Revenue Service: The institutions and infrastructure of the United States are not being optimally monetizedWhat is the market value of American citizenship? If Nvidia is worth $3 trillion, how much is the American legal system worth?Why are we not mining our valuable resources?Are there creative and productive ways to monetize federal lands?  The United States is the greatest customer in the world; it should benefit from that reality when it does business with other nations or corporations Example: Hold stock warrants in the sovereign wealth fund so the American people benefit when the US does a business dealCapital appreciation in the sovereign wealth fund will be used to offset the nation's debt “Our objective is to smash down the Internal Revenue Service and change America.” – Lutnick Read the full notes @ podcastnotes.org(0:00) Chamath and Friedberg welcome Commerce Secretary Howard Lutnick! (1:10) Howard describes his 30+ year relationship with President Trump and his road from business to politics (14:44) Running Trump's transition team, DOGE origin story, what it's like working for Trump (38:01) Balancing the budget and fixing GDP (52:21) Tariff history and strategy, global trade (1:10:34) Trump Cards, building better government software, AI thoughts (1:22:49) Sovereign Wealth Fund strategy (1:37:16) How his family reacted to his new role Thanks to our partners for making this happen: Gemini: https://www.gemini.com/allin Hims: https://www.hims.com | https://www.forhers.com iTrustCapital (use code allin): https://www.itrustcapital.com/allin Follow Secretary Lutnick: https://x.com/howardlutnick Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect

Founders ✓ Claim Key Takeaways  “Do one thing and do it better than anyone else.” – Todd Graves A winning idea can work for decades: Don't think that you need to have a new idea every six months to be successfulCombine extreme patience with an extreme intolerance for slowness If you love what you are doing, then you will never stop doing it – and therefore, you will never interrupt the compounding effects of your efforts Make mistakes fast, but fix them even faster Make your people feel appreciated; constantly communicate your appreciation for them Corporate America makes financial decisions, not personal ones; this creates an opportunity for founder-led businesses that have more skin in the game You should be in a rush to get to your last business: “I'm not really interested in your first business. I'm interested in your last business.” – David Senra Lock in with a singular focus and do that thing better than anybody else; if you try to be all things for all people, then you are not anything to anybody Do not listen to “experts”; listen to your gut and intuition Limit the amount of details to perfect, then make every detail perfect “Never ever give up, and be fanatical. You've got to be fanatical. Nothing ever happens unless someone pursues a vision fanatically.” – Todd Graves  Read the full notes @ podcastnotes.orgTodd Graves is one of my favorite living entrepreneurs. He's a great example of Charlie Munger's maxim: Find a simple idea and take it seriously. Todd wanted to create a quick service restaurant that only focused on quality chicken finger meals and nothing else. Everyone told him that couldn't possibly work. The college paper that described the idea that would turn into Raising Canes got the lowest grade in the class. Banks wouldn't loan him any money —but nothing could stop Todd from living out his "chicken finger dream." He worked 95 hour weeks as a boilermaker, risked his life on a commercial fishing boat off the coast of Alaska, and scrounged up startup money from his bookie and a guy named Wild Bill. Todd made every mistake in the book, over leveraged himself, almost lost everything and yet he refused to give up or sell out. Today he has over 800 locations, 50,000 employees, and owns 90% of a business that's worth at least $10 billion. Todd's maxim is "Do one thing and do it better than anyone else." Sources: Trading Secrets: Raising Cane's founder Todd Graves reveals his path to building the wildly popular restaurantTheo Von: Raising Cane's Founder Todd Graves----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. ----Join my free email newsletter to get my top 10 highlights from every book ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes 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. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

All-In with Chamath, Jason, Sacks & Friedberg Key Takeaways  “I wanted to get involved in the campaign because I was so alarmed with what the Biden administration was doing with the debt and deficit.” – Scott Bessent The US was headed for a European-style economic malaise in which the rich get richer and the everyday person gets left behind The Biden administration's economic policies were not only unfair to the everyday American but also unstable and damaging to the American dream The key aspects of the American Dream: Home ownership, financial security, some level of comfort, Purpose in your work, The ability to support your family, and optionality so that you do not have to work multiple jobs to make ends meet In the post-World War II period, 90% of children ended up earning more than their parents; today, that figure is around 50% The US does not have a revenue problem; it has a spending problem The Trump Administration's “3-3-3” economic strategy Achieve 3% real GDP growth Reduce the budget deficit to 3% of GDP by 2028 Increase U.S. Energy production by 3 million barrels of oil per dayAbout 25% of the nation's GDP flows through the ten-mile radius around Washington DC – and everyone in DC is trying to skim a little off the top  “It is the Department of Government Efficiency – not government extinction, not government elimination.” – Bessent The second part of the plan is to reorder the international trading system and bring manufacturing jobs back to the US; this will reinvigorate the middle-class Everything Trump does is not always in a straight line, but he has a destination in mind“He wants to create assets for the American people, not just debt.” – Scott Bessent on President Trump The intention of the US Sovereign Wealth Fund: The US can get a higher return on its assets than it is currently getting Three other agenda items for the Trump Administration 1. Low and predictable taxes 2. Substantially slash regulations and increase the predictability of regulations 3. Cheap energy and increased energy security Cheap energy and energy security help solve a lot of America's affordability problems; we cannot be dogmatic about where solutions come from  “He really regards himself as the mayor of America”: Trump doesn't care if you are Elon Musk or the guy mowing the White House lawn; you are his constituent  Read the full notes @ podcastnotes.org(0:00) Chamath and Friedberg describe their adventures in DC and welcome Treasury Secretary Scott Bessent! (2:12) Scott's background, what drew him to equities, the role of macro investors (7:22) The legendary trade that broke the Bank of England in 1992, and how it relates to Main Street vs Wall Street today (21:30) Scott explains the Trump Administration's economic strategy (32:45) How this administration plans to de-regulate the economy, Fed relationship, re-financing debt (42:06) DOGE, DC grifts, shakeup at the IRS (50:51) Re-engineering social security through the US SWF, how energy factors in (1:00:02) Surprises, fixing affordability, thoughts on President Trump Thanks to our partners for making this happen: Gemini: https://www.gemini.com/allin Hims: https://www.hims.com | https://www.forhers.com iTrustCapital (use code allin): https://www.itrustcapital.com/allin Follow Secretary Bessent: https://x.com/SecScottBessent Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect

How to Take Over the World Key Takeaways  At the heart, Donald Trump is a deal-maker and a fighter who constantly demands attention“Good publicity is preferable to bad, but from a bottom-line perspective, bad publicity is sometimes better than no publicity at all. Controversy, in short, sells. I'm not sure that's a good thing – and in truth, it probably says something perverse about the culture that we live in. But I'm a businessman.” – Donald Trump Do not be afraid of failure: Everything you want in life is on the other side of willing to be cringe Trump views the world in terms of deals; he does not like the idea of defending another country without getting something in return Every deal needs its thrill: Some say he won't do a deal unless there is something “extra” to it, a moral larceny to it – he is not satisfied by only generating profits Understanding his motivations helps make sense of his actions: he pursues things for the exposure those pursuits generate – the prestige, the credibility, the visibility, the recognition  “One thing I've learned about the press is that they're always hungry for a good story, and the more sensational the better. It's in the nature of the job, and I understand that.” – Donald Trump The Art of the Deal: “I don't do it for the money. I've got enough, much more than I'll ever need. I do it to do it. Deals are my art form. Other people paint beautifully on canvas or write wonderful poetry. I like making deals, preferably big deals. That's how I get my kicks.” – Donald Trump Read the full notes @ podcastnotes.orgDonald Trump: real estate mogul, master marketer, and the most polarizing figure of our time. How did he go from a brash young developer in Manhattan to the most powerful man in the world? In this episode of How to Take Over the World, we break down the strategies, mindset, and raw ambition that fueled his rise. ----- 00:00 - Introduction: The Farce and Reality of Donald Trump 02:40 - Who is Donald Trump? 03:55 - Polarizing Figure: Love Him or Hate Him 06:06 - Fred Trump: The Formative Influence 08:56 - Young Donald: Aggression and Military School 14:53 - College Years and Avoiding the Vietnam War 18:31 - Early Real Estate Ventures 25:41 - The Grand Hyatt: A Major Success 35:40 - Trump Tower: Controversy and Prestige 43:45 - Trump's Wollman Rink Success 45:36 - Television City: A Bold Vision 48:01 - The Cringe Factor: Embracing Failure 51:12 - Recap of Trump's Early Success 54:24 - The Downfall Begins: Casinos and Distractions 01:01:35 - Trump's Desperate Measures 01:08:34 - The Apprentice: A Turning Point 01:11:22 - Understanding Trump: The Deal Maker 01:19:24 - Final Thoughts and Controversies ----- Sponsors: HTTOTW Premium - Sign up to get all endnotes and special episodes Gains In Bulk - Use this link and use code Ben for 20% off VanMan - Use code TakeOver10 for 10% off Founders Podcast

Knowledge Project Key Takeaways Check out the episode pageRead the full notes @ podcastnotes.orgI've learned as much from reading biographies as from interviewing amazing people. That's why we're starting 'Lessons from Outliers.' Every other week, we'll study an outlier who did remarkable work. From industrialists who reimagined commerce to the irreverent personalities who challenged the foundations of their fields, we'll explore what they did and how they did it. We can learn something from everyone.     We're starting Outliers with Timothy Eaton, a Canadian name that might not be familiar to many listeners today, but his innovations fundamentally changed retail and how we shop. This episode is about how he built that empire, the principles that drove its success, and the forces that eventually brought it all crashing down. Whether you're building a business, leading a team, or trying to understand how great companies rise and fall, Timothy Eaton's story offers timeless lessons about innovation, trust, and the true price of success. You'll learn why even the mightiest empires can crumble when they forget the principles that built them and why success—no matter how massive—must be earned and re-earned daily.  (01:55) Introduction (05:04) The Vision (06:16) Timothy's Early Years (09:28) The System (12:17) The Innovation Engine (14:18) The Scale Game (18:08) The Platform Play (19:32) The Leadership Philosophy (20:48) The Succession (22:21) Retail as Entertainment (23:14) The Western Expansion (25:12) Building the National Network (26:05) Creating the Corporate Family (26:43) The Pinnacle of Power (27:43) The Inherited Crown (28:33) The Comfortable Plateau (31:33) The Weight of Tradition (33:12) The Profit Paradox (34:02) The Identity Crisis (34:51) The Final Chapter This podcast is for information purposes only and draws primarily from two excellent books: ‘The Eatons: The Rise and Fall of Canada's Royal Family' by Rod McQueen, which chronicles the Eaton family history and the company's journey from beginning to end, and ‘Timothy Eaton and the Rise of His Department Store' by Joy L. Santiuk, which focuses on the founder's life. Newsletter - The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it's completely free. Learn more and sign up at fs.blog/newsletter Upgrade — If you want to hear my thoughts and reflections at the end of the episode, join our membership: ⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠ and get your own private feed. Learn more about your ad choices. Visit megaphone.fm/adchoices

Invest Like the Best Key Takeaways  The best investors get excited during periods of extreme change Key traits for being a successful investor: Be (1) wildly competitive and (2) incredibly curiousCollaboration is key: Once an investment research team grows beyond 20 people, silos form and collaboration decreases  Design your organization in a way that encourages dialogue, debate, information sharing, and people to push one another Traits of a Perfect Business1. Incredible leadership 2. Really strong unit economics 3. A solid moat around the business 4. Excellent value proposition to the customer 5. The ability to grow organically without investing meaningful capital 6. A huge runway for growth that can last for many years without being disrupted The optimal portfolio should consist of several things that you are excited about and that have idiosyncratic drivers Certain market backdrops are conducive for different investing styles: Certain investors play a different game from everyone else and there are certain investors who play the popular game bestHire self-aware and curious people who love to learnBonus points if they competed in sports at a high level; these people understand hard work, failure, disappointment, and achievement   Do not fall victim to paralysis by analysis: Recognize that there is always the opportunity to learn more, but know when you have enough information to make a decision Investing is a pattern-matching business and the gap between winners and losers is widening How to live a rewarding life: Figure out who in your life matters to you, figure out what matters to them, and then show up for them in all the ways that matter to them  Read the full notes @ podcastnotes.orgMy guest today is Kelly Granat. Kelly is the Co-Chief Investment Officer and Managing Director at Lone Pine Capital, one of the most storied and successful hedge fund and investment firms of the last several decades. We explore how investing has evolved since Kelly joined the industry and she shares insights into Lone Pine maintaining its edge through deep fundamental research and a collaborative culture. We discuss what makes great businesses and great investments, how leadership can transform companies, and Kelly's perspective on evaluating management teams and identifying opportunities around corporate change that the market often misprices. Please enjoy my conversation with Kelly Granat. Subscribe to Colossus Review. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest-growing FinTech company in history, and it's backed by more of my favorite past guests (at least 16 of them!) than probably any other company I'm aware of. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. – This episode is brought to you by AlphaSense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. – This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com to learn more about the platform. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Learn About Ramp, Alphasense, & Ridgeline (00:06:09) Market Structure Evolution (00:08:39)The Impact of Passive Investing (00:10:21) Collaboration & Team Dynamics (00:13:48) Excitement in Periods of Extreme Change (00:14:21) The Role of Competition & Curiosity (00:22:00) Fundamental Research & Data Integration (00:27:34) Investment Philosophy (00:35:31) People-Centric Investing (00:42:24) Succession Planning (00:49:32) Facing the Pressure of Early Success (00:50:31) Burnout & Rediscovery (00:57:08) Learning from Industry Leaders (00:58:04) Evaluating Talent and Competition (01:11:29) Lessons in Investment (01:27:27) The Kindest Thing Anyone Has Ever Done For Kelly 

Founders ✓ Claim Key Takeaways  Best Michael Ovitz quotes: “Insecurity and ambition make a powerful cocktail.” “I didn't want to be standard in any way.”“I would have been much happier if I hadn't been so determined to appear all-knowing and invulnerable.”“Everyone stopped. I didn't stop.” Lew Wasserman's five rules that created his Hollywood empire 1. Tend to the client 2. Dress appropriately 3. Never divulge information about the firm 4. Do your homework 5. Never leave the office without returning every single phone call Michael Ovitz's founding principle for CAA1. All founding members get even equity 2. Get big fast 3. Share all clients and serve them as a group; no turf wars and no silos 4. Tell the truth 5. Create opportunities instead of waiting around for them Belief comes before ability: “I believe that nobody wants to be treated just as they are. People want to feel encouraged to become more than what they are, to become the best versions of themselves.” CAA poached talent by assumption: The firm behaved as if the talent was already their client, then made their dreams happen before ever even signing them Do the job before you are hiredKnow your customer's problem and present yourself as the solutionRealize that your “good times” are now: Thirty years from now, you will probably regret how you spent your time  Channeling Charlie Munger: Your goal in life should be to build a seamless web of deserved trust; work with the people in this web, and do life with these people – it is all about the people Read the full notes @ podcastnotes.orgAt the core of Michael Ovitz's success is his relentless work ethic and commitment to mastering his craft. 50 years ago he founded Creative Artists Agency. CAA starts out as just five young guys in a run down office and eventually becomes the most powerful agency in the world. Ovitz's autobiography explains how that happened. As the Wall Street Journal wrote: When the history of Hollywood is written, few people will have played a larger role than Michael Ovitz. This episode is what I learned from reading (for the 2nd time!) Who Is Michael Ovitz?: The Rise and Fall (and Rise) of the Most Powerful Man in Hollywood by Michael Ovitz. ----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Vesto: All of your company's financial accounts in one view. Connect and control all of your business bank accounts from one dashboard. Go to Vesto and schedule a demo with the founder Ben. Tell him David sent you. ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. ----Join my free email newsletter to get my top 10 highlights from every book ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes 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. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

The Tucker Carlson Show Key Takeaways  “Gold, on some level, is a hedge – an insurance policy – against the existing system, as it has been allowed to evolve over the last 50 years.” – Luke Gromen Gold serves as an anchor to reality: Establishment powers do not want gold to come back into the system because it is easier to run fiscal deficits without it Throughout history, the first thing that autocrats tend to do once they seize power is remove the convertibility of their currency to goldYou are a free person as long as you can convert your currency into gold, but when you can no longer do that, your vote does not matter “Permit me to issue and control the money of a nation, and I care not who makes its laws.” – Mayer Amschel Rothschild Throughout history, the first thing that autocrats tend to do once they seize power is remove the convertibility of their currency to gold “It has become clear that the status quo dollar system has become an acute national security threat to the United States on two fronts.” – Luke GromenThe US cannot make weapons fast enough to credibly defend itself or its allies The debt has gotten so high that it has become its threat to national securityDollar Dutch Disease has weakened America and hurt the everyday American  The US borrows money from China to build weapons (which require Chinese components) to face China  – this is not a great geopolitical strategy considering China is the biggest adversary of the United States The debt creates the problem: Introducing deflationary forces, such as an AI productivity boom or an energy breakthrough, to a debt-based system can cause it to implode  JD Vance has specifically said that the dollar's reserve currency status may not be a good thing for the United States“At some point, Bitcoin might compete with [gold], but that's far down the road.” – Luke Gromen  Read the full notes @ podcastnotes.orgMore gold is being shipped quietly between countries right now than at any time in history. Why? Because we're getting a new global financial system. Luke Gromen explains. (00:00) Gold Is Still Critical to Our Economy (08:17) The Government's Secrecy Around Gold Ownership (13:17) Why Can't Fort Knox Be Audited? (21:47) The Intel Community's Propaganda Around Gold Owners (28:41) Is Warren Buffet a Political Pawn for the Banks? (34:00) The Biggest Global Players in the Gold Industry Paid partnerships with: ExpressVPN: Get 4 extra months free at https://ExpressVPN.com/Tucker iTrust Capital: Get $100 funding bonus at https://www.iTrustCapital.com/Tucker PureTalk: Get an iPhone 14 or Samsung Galaxy for $0 https://PureTalk.com/Tucker Learn more about your ad choices. Visit megaphone.fm/adchoices

Invest Like the Best Key Takeaways  Identify and invest in outliers: The best venture capital investors recognize outlier potential when they see it and have a curiosity to discover what makes the outlier tick and WHY they tick that way On being a VC or a founder: Inherent builders should be in the field – they should be building companies, not coaching other builders Debug problems as far upstream as possible; take the rocks out of the river so the water can flow as fast as possible  Black magic is reserved for founders; every other area of the company-building process is mere mortal stuff Stewardship over ownership: The goal is to leave your creation in a better place for the next generation It is okay to choose the parallel tracked path of banking or consulting, and it is okay to take risks, but it is not okay to do one and spend your life thinking you did the other The most common mistake that investors make is doing something contrary to the best interests of the founder Traits of the best investment memos:(1) Clearly state the one or two strongest reasons to invest(2) Two to three pages max(3) Present clear data from the opposing side(4) argue why the investment should happen despite the opposing dataSuccess starts at the foundational layer: Great culture is downstream of getting the foundation right and fostering internal belief, which is all a firm needs to be successful Performance is the cultural component that matters mostRead the full notes @ podcastnotes.orgWelcome to this classic episode. Classics are my favorite episodes from the past 10 years published once a month. These are N of one conversations with N of one people. There's nobody I've met quite like Doug Leone. Doug led one of the world's most successful venture firms, Sequoia, for over 25 years after he was given responsibility for the firm by its founder, Don Valentine, in 1996. Alongside Mike Moritz, the pair managed its expansion from a single $150m early-stage fund into an $85 billion global powerhouse. It was a privilege to sit down with Doug and learn from him. We talk about his tough start at Sequoia, get into the technicalities of great go-to-market motions, and survey his advice for other investors in the industry. A key theme that will stick with me from this conversation is Doug's insistence on keeping things simple and clear. I listen to this at least once a year. I hope you enjoy it. Subscribe to Colossus Review. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Passthrough. Passthrough streamlines subscription documents, KYC, and AML compliance, so you can focus on running your fund, not managing paperwork. New SEC Update 31 CFR hits investment firms in under a year, and managers are getting ready for it now. If you think basic OFAC screening is enough, think again. You'll need continuous monitoring of your investors and all their beneficial owners across multiple watchlists, plus a comprehensive anti money laundering program. Passthrough has already processed 50,000 LPs and built the complete solution. Don't risk SEC deficiency letters, fines, or regulatory enforcement. Visit passthrough.com to get compliant now. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.  Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @patrick_oshag | @JoinColossus Show Notes [00:00:00] Welcome to Invest Like the Best [00:05:21] What Don Valentine's heart was like [00:08:30] The most productive and unproductive parts of Don's toughness  [00:12:55] Why it's so important to understand someone's core motivations [00:18:44] The most formative experiences he had prior to becoming an investor that impacted his investing the most  [00:22:37] What venture looks like to him today relative to his prior career [00:28:37] Whether or not he'd go into venture today if he was in his late 20s  [00:34:10] Helping companies circumnavigate mediocre positioning  [00:39:15] How interacting with companies early on has changed over the ears [00:43:12] Whether or not new entrants into venture should build firms with enterprise value  [00:48:14] Sussing out the killer gene in somebody  [00:51:04] How successful people can instill the lessons learned from hardship into their children  [00:54:30] Whether or not competitive advantage can be architected ahead of time when building a company   [00:57:21] The early 2000s clawback at Sequoia and what navigating that period was like  [01:01:06] What he's learned about picking the right LPs and partnering with them [01:04:18] Making sure that performance is on everyone's minds all the time  [01:09:59] The kindest thing anyone has ever done for him

The Lunar Society Key Takeaways Check out the episode pageRead the full notes @ podcastnotes.orgSatya Nadella on:- Why he doesn't believe in AGI but does believe in 10% economic growth,- Microsoft's new topological qubit breakthrough and gaming world models,- Whether Office commoditizes LLMs or the other way around,Watch on Youtube; listen on Apple Podcasts or Spotify.SponsorsScale partners with major AI labs like Meta, Google Deepmind, and OpenAI. Through Scale's Data Foundry, labs get access to high-quality data to fuel post-training, including advanced reasoning capabilities. If you're an AI researcher or engineer, learn about how Scale's Data Foundry and research lab, SEAL, can help you go beyond the current frontier at scale.com/dwarkeshLinear's project management tools have become the default choice for product teams at companies like Ramp, CashApp, OpenAI, and Scale. These teams use Linear so they can stay close to their products and move fast. If you're curious why so many companies are making the switch, visit linear.app/dwarkeshTo sponsor a future episode, visit dwarkeshpatel.com/p/advertise.Timestamps(0:00:00) - Intro(0:05:04) - AI won't be winner-take-all(0:15:18) - World economy growing by 10%(0:21:39) - Decreasing price of intelligence(0:30:19) - Quantum breakthrough(0:42:51) - How Muse will change gaming(0:49:51) - Legal barriers to AI(0:55:46) - Getting AGI safety right(1:04:59) - 34 years at Microsoft(1:10:46) - Does Satya Nadella believe in AGI? Get full access to Dwarkesh Podcast at www.dwarkesh.com/subscribe

LaBossiere Podcast Key Takeaways  World-class founders are the scarce resource: Every investor is chasing after the 5-10-15 founders a year that have a non-zero probability of rearranging the planet to their willYou either have a superpower, or you don't; you need to be in the top 1% on some dimension or you have no chance of creating the next Nvidia Identify a crack in the world where things are volatile or in transition, and build solutions that address those opportunistic gaps  How to attract talent: Embrace and foster strong cultural principles that can differentiate your company from other companies – and be sure that those principles are authentic The framework for understanding when to promote comes down to whether an employee's growth rate is outpacing the growth of the company  Knowing how much capital to raise: Identify the two or three inflection points that will make the startup successful, then work backward from those and calculate the capital needed to reach each of them The biggest mistake that founders make is that they don't do reference checks on investors Most MBA-esque wisdom is bad: People default to hiring because they want to manage people; new teams get created but nothing new gets done – this creates complacency and makes it challenging to tell the good employees from the bad onesThe job of the CEO is to clarify and simplify the company's initiatives, then strategically allocate resources against those goals – all done in the interest of ensuring a consistent voice It is the CEO's responsibility to disseminate as much high-signal information as possible so that everybody has the same context; doing this increases the probability that more people will naturally arrive at the correct decision Making the decision and deciding that you are going to be successful is more important than the option value of waiting Focus on inputs not outputs: People within your organization won't take sufficient risks if the perception is that results are the only thing that matters Challenge yourself: “You either want to write something worth reading, or do something worth writing about.” – Ben Franklin Read the full notes @ podcastnotes.orgKeith Rabois is a Managing Partner at Khosla Ventures and the CEO of OpenStore, which acquires small direct-to-consumer businesses. Keith co-founded Opendoor and led the first institutional investments in DoorDash and Affirm. He has early stakes in YouTube, Palantir, Lyft, Airbnb, Eventbrite, and Wish, and also led investments in Faire, Ramp, Trade Republic, and Stripe. He's regarded as one of the greatest early stage investors.Keith began his career in the industry as a senior executive at PayPal and subsequently served in influential roles at LinkedIn and as chief operating officer of Square. As a board member, Keith guided Yelp and Xoom from inception to IPO, and served on the board of Reddit from 2012-2018.0:00 - Intro1:56 - Great Founders and the Bottleneck to Innovation4:35 - Vertical Integration6:24 - The Hollywood Model of Startups7:41 - The “Why Now?” in Company-Building9:50 - Multi-Product Companies10:58 - Iteration and Pivots12:52 - Picking Co-Founders14:51 - Identifying Mispriced Talent17:20 - Attracting Talent20:57 - Assessing Talent24:02 - Doing References25:56 - Closing Hires28:28 - Thinking 6 Months Ahead31:36 - How Long Should You Interview For?33:28 - Creating a Monopoly on Talent35:44 - Raising Capital37:40 - Screening Investors41:21 - Building a Board44:11 - Triaging and Identifying Problems47:59 - Writing vs Editing and Consistent Voice49:34 - Creating Transparency50:50 - Barrels and Ammunition54:55 - Task-Relevant Maturity56:40 - On Delegating59:21 - Measuring Inputs vs Outputs1:02:58 - Underrated Metrics1:05:22 - What Should More People Be Thinking About?

Shawn Ryan Show Key Takeaways  Advice for Young Innovators: Work on the things that you are genuinely interested in and do not rely on other people to tell you what you should be working on The term “conspiracy theorist” was invented by the CIA and used to discredit anyone who questioned the original results of the JFK assassination investigation “It's pretty extraordinary that “conspiracy theory” and “conspiracy theorists” are themselves literally born of a government conspiracy.” – Palmer “I'm a big pronatalist. I definitely believe that you need to have kids. If you don't have 2.1 kids minimum, then you're a traitor to the nation and our ideals because you're basically outsourcing responsibility for the continued existence of our nation to other people – which seems like a super-elitist attitude.” – Palmer Luckey, father Preparing for a Chinese invasion of TaiwanIn simulated war games, in a hypothetical Chinese invasion of Taiwan, the United States runs outs of missiles in less than eight daysChina has 350x the ship-building capacity of the United States (!)Taiwan is not the end state for China: The Chinese believe that the Philippines, Korea, and most of Japan belong to them; this won't stop with Taiwan“Trump understand that if we don't manufacture in America, we're just everyone else's b*tch.” – Palmer “Trump instinctively understands this in a way that the globalist elites do not. They thought outsourcing everything was great. They're against tariffs – why would you produce in a less efficient economy when you can manufacture wherever it's cheapest according to global market dynamics? The problem is, they forgot that once you stop making things and your companies no longer produce anything, you lose all leverage – you've handed it away to everyone else.” – Palmer Luckey How to take advantage of Xi's mistake:The US should make the Big Tech companies so integrated with national security that they cannot change their minds about supporting our interests in the future Bring back Defector Visas: Offer special visas to high-value defectors from adversarial nations (like China or Russia), particularly scientists, engineers, or officials, to weaken rival governments while boosting U.S. innovation and security“My belief is that the United States should stop being the world police. We need to stop sending our people all over the world to fight everyone's wars for them, and we need to become the world's gun store. We need to just sell them the guns that they need to defend themselves and we need to make sure that we actually keep those shelves stocked.” – Palmer LuckeyRead the full notes @ podcastnotes.orgPalmer Luckey is an entrepreneur and innovator best known for founding Oculus VR and Anduril Industries. In 2012, he launched Oculus VR and developed the Oculus Rift, a groundbreaking virtual reality headset that redefined a wide array of industries. The company was acquired by Facebook in 2014 for $2 billion, where Luckey subsequently worked until 2017. Following his departure, he founded Anduril Industries - a defense technology company specializing in autonomous systems including drones, surveillance towers, and aircraft. Anduril has secured major contracts with the U.S. Department of Defense and international allies. The company has raised significant funding, including $1.5 billion in 2022, valuing it at $8.5 billion. Shawn Ryan Show Sponsors: http://armra.com/srs http://helixsleep.com/srs http://patriotmobile.com/srs http://hexclad.com/srs http://ziprecruiter.com/srs https://ROKA.com | Use Code SRS Palmer Luckey Links: Anduril Industries - https://www.anduril.com/ ModRetro - http://modretro.com/ X - https://x.com/PalmerLuckey/ Please leave us a review on Apple & Spotify Podcasts. Vigilance Elite/Shawn Ryan Links: Website | Patreon | TikTok | Instagram | Download Learn more about your ad choices. Visit podcastchoices.com/adchoices

All-In with Chamath, Jason, Sacks & Friedberg Key Takeaways  DOGE is forcing the essential question: “What is the essential role of government?”The people who are complaining the loudest about DOGE are probably the ones who have committed the most fraud DOGE found USAID making some interesting payments:$1.5 million to “advance DEI in Serbia's workplaces and business communities”$2 million for sex changes and “LGBT activism” in Guatemala $70,000 for production of a “DEI musical” in Ireland The corrupt USAID payments force the question: “What is the real grassroot support for these left-wing policies all over the world?” “We know that the US government runs a $2 trillion deficit every year; we're in debt almost $40 trillion. We also knew that anytime anyone tries to cut anything in Washington, the whole city screams bloody murder. So the question is, why? Well, now we know: the money is all going to them – it is round-tripping to them.” – David Sacks USAID paid $8 million to Politico and several million dollars to the BBC; this may help to explain why certain political controversies, such as the Hunter Biden laptop story, were buried during the 2020 election cycle The Democrats have lost their way because they have forgotten “kitchen table issues” – the things that regular people care about and discuss at their kitchen tables “A sovereign wealth fund would be a stealthy way to create industrial policy in America.” – Antonio Gracias A US sovereign wealth fund can serve as a rainy-day fund for the nation and a place to store the enormous amounts of revenue that can be created from pro-energy policies Unleashing the American Productivity Machine: AI will cause job loss, but the amount of productivity that it will also enable in the US economy will be extraordinary GLP-1 drugs aren't just for weight loss and appetite control – they might protect the brain and heart but could come with risks for digestion, kidneys, and the pancreas Read the full notes @ podcastnotes.org(0:00) The Besties intro Antonio Gracias! (3:11) DOGE takes on USAID (31:44) Sacks breaks in to talk USAID (34:00) Sacks explains what he's working on: Crypto/AI Frameworks (46:41) The Democratic Party's shrinking base (52:33) US Sovereign Wealth Fund + Breaking DOGE/Tax News (1:09:07) Google to spend $75B on AI buildout in 2025, future of work in the age of AI (1:23:21) Science Corner: GLP-1 macro study Follow Antonio: https://x.com/AntonioGracias Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: https://en.wikipedia.org/wiki/United_States_Agency_for_International_Development https://www.wsj.com/opinion/usaid-donald-trump-elon-musk-marco-rubio-state-department-foreign-aid-8d2a1920 https://www.usa.gov/agencies/u-s-agency-for-international-development https://www.usaspending.gov/agency/agency-for-international-development?fy=2024 https://www.whitehouse.gov/fact-sheets/2025/02/at-usaid-waste-and-abuse-runs-deep https://www.wsj.com/finance/banks-sell-5-5-billion-of-x-loans-after-investor-interest-surges-4b84f89c https://www.usaspending.gov https://www.foxnews.com/media/ex-politico-reporters-reveal-editors-quashed-slow-walked-negative-biden-stories-with-no-explanation https://www.usaspending.gov/recipient/fa0cefae-7cfb-881d-29c3-1bd39cc6a49e-C/2024 https://www.bbc.co.uk/mediaaction/about/funding https://www.whitehouse.gov/presidential-actions/2025/01/reevaluating-and-realigning-united-states-foreign-aid https://x.com/susancrabtree/status/1884034727046226317 https://x.com/elonmusk/status/1886627783138316442 https://www.nbcnews.com/politics/national-security/usaid-security-leaders-removed-refusing-elon-musks-doge-employees-accercna190357 https://x.com/Jason/status/1885082871074886110 https://x.com/anc_aesthetics/status/1886176995433763188 https://x.com/wikileaks/status/1887501752213409919 https://x.com/pm_viktororban/status/1887224829352280505 https://x.com/daily_romania/status/1887883017550430435 https://x.com/kanekoathegreat/status/1887261736618893636 https://www.whitehouse.gov/presidential-actions/2025/01/strengthening-american-leadership-in-digital-financial-technology https://x.com/davidsacks47/status/1886878016183394403 https://www.banking.senate.gov/newsroom/majority/scott-hagerty-lummis-gillibrand-introduce-legislation-to-establish-a-stablecoin-regulatory-framework https://www.washingtonpost.com/opinions/2025/02/02/rahm-emanuel-democrats-voters-kitchen-table https://www.whitehouse.gov/presidential-actions/2025/02/a-plan-for-establishing-a-united-states-sovereign-wealth-fund https://www.americanprogress.org/article/scott-bessents-3-percent-deficit-target-would-require-massive-cuts-to-anti-poverty-programs-and-middle-class-tax-increases https://abcnews.go.com/US/judge-weigh-block-doge-accessing-treasury-department-records/story?id=118498817 https://en.wikipedia.org/wiki/United_States_DOGE_Service https://x.com/libsoftiktok/status/1887585824218509380 https://fedscoop.com/wp-content/uploads/sites/5/2025/02/show_temp.pdf https://www.cnbc.com/2025/02/05/alphabet-shares-fall-7percent-on-revenue-miss-heightened-ai-investments.html https://abc.xyz/assets/a3/91/6d1950c148fa84c7d699abe05284/2024q4-alphabet-earnings-release.pdf https://x.com/SawyerMerritt/status/1886899315735507255 https://www.nature.com/articles/s41591-024-03412-w

Invest Like the Best Key Takeaways  “My appetite for finding the best person in the world to do the thing instead of me doing it is almost infinite.” – Graham Duncan Desire wants what it wants; get in tune with your desire Leverage your comparative advantage: Most investing strategies are downstream of the simple goal of (1) making money and (2) not losing too much In investing, the goal is to make money – not be right or feed the go Navigating the Principal-Agent Dynamic: The principal should set the condition that tells the agent that it is okay to make mistakes; if the agent feels that he cannot make mistakes, then he probably won't take sufficient risks Peter Keonig on Source Dynamics: All organizational dysfunction can be traced back to disagreements about the Source; messing with the origin in any subtle way can affect the entire trajectory of the thing in ways that you wouldn't think  Mastery involves “becoming source” of your own style of investing – it involves coming into your own and not playing the game as others have played it, but truly playing it in your own idiosyncratic way Traits of the best investors: (1) Decisiveness (2) Open-mindedness with a point of view Be opportunistic and flexible so that you can flow with emergent market dynamics instead of getting stuck in them Be Like Toranaga: When everybody else is losing their minds, hold – just holdFollow Your Bliss: Trust the universe that if you get in touch with the thing that you are compulsive about and love, the world will come to you  Quiet Ego as a Superpower: The principal should focus on making money and be less concerned about making the idea their ownOn wandering during a wilderness period in your life: Have patience and don't overweight any one thing; don't over-index on “where you are in the system” or become too concerned with being “relevant” “My appetite for finding the best person in the world to do the thing instead of me doing it is almost infinite.” – Graham Duncan Focus on the intersection of what the world wants from you and what you actually want Read the full notes @ podcastnotes.orgMy guest today is Graham Duncan. This conversation will make you think about your life in new ways. This is a two-hour segment of a 4.5-hour interview I did with Graham last year. It stands alone as remarkable, but those who subscribe to Colossus Review will gain access to the full conversation. This will be true in future issues, too. In 2006, in his early 30s, Graham convinced Stuart Miller, CEO of home construction company Lennar, to let him manage $50 million of his family's wealth. A year later, Miller gave him the rest of his capital outside of Lennar. That investment turned into East Rock, where Graham built an incredible investing track record managing billions for a select group of families by focusing on people. Our conversation explores a wide range of topics—from what makes a great investment partnership to the power of positive feedback loops to starting a restaurant. I'm thankful to Graham for showing me the way so many times and for being willing to be so incredibly open in this conversation. Please enjoy this discussion with Graham Duncan.  Subscribe to Colossus Review. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest-growing FinTech company in history, and it's backed by more of my favorite past guests (at least 16 of them!) than probably any other company I'm aware of. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. – This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com to learn more about the platform. – This episode is brought to you by Alphasense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Learn about Ramp, Ridgeline, & Alphasense (00:09:40) Intro to Graham (00:10:24) Launching Colossus Review (00:12:25) The Principal-Agent Dynamic (00:15:17) Navigating Financial Crises (00:17:52) The Right Grip in Investing (00:22:02) Seeding and Investment Strategies (00:26:07) Defining 'Commercial' and Its Implications (00:31:01) The Role of Laziness and Prolific Output (00:32:50) Finding the Right People and Positive Feedback Loops (00:41:51) Navigating Career Transitions and Motivations (00:47:35) Understanding Source Dynamics (00:54:37) Key Criteria for a Great CIO (01:04:13) Structuring Relationships with CIOs (01:08:10) Managing Ambiguity and Protecting Mental Clarity (01:19:39) The Importance of Source in Business (01:22:19) Designing Physical Spaces for Success (01:27:18) Launching a Restaurant: A Casting Exercise (01:34:47) Taking Over and Transforming Existing Ventures (01:37:38) Macro Investing and Adaptability (01:40:36) Hierarchy of Investment Mastery (01:48:40) The Art of Referencing (01:56:38) Formative Experiences and Personal Growth (02:04:44) Building a Business and Taking Risks (02:12:16) The Origin of East Rock

How to Take Over the World Key Takeaways  The Life of Isaac Newton: Forever voyaging through strange seas of thought, alone Top Isaac Newton quotes from this episode: “Truth is the offspring of silence and meditation.”“I keep the subject constantly before me, and wait until the first dawnings open slowly, little by little, into a full and clear light.” “If I have seen further, it is by standing on the shoulders of giants.”Brilliance without passion: Geniuses are not beasts of burden and cannot be chained to whatever problem is set before them; intelligence is only half the equation of genius – it is the excitement that generates most of the action Learning as a form of obsession: Newton learned as a form of obsession, which is the vital ingredient for achieving greatness Balancing Obsession and Moderation: Too much study and too much passion will lead to madness Newton on imagination and fantasy: “Fantasy is helped by good air, fasting, and moderate wine. It is spoiled by drunkenness, gluttony, and too much study.” Newton was driven to understand things from first principles; he obsessively tried to quantify everything  Newton made his crowning scientific achievement at the age of 44, publishing the Principia in 1687; this work laid the foundation for classical mechanics, introducing his laws of motion and the law of universal gravitationNewton's child-like love for the world and his desire to understand the world around him led to his greatest breakthroughs Read the full notes @ podcastnotes.orgIsaac Newton was one of the great geniuses in human history. He established the basic laws of physics, discovered the laws of gravity, invented calculus, and refined the scientific method. On this episode we take a look at how he was able to accomplish so much by analyzing his strategies, tactics, and work habits. --- Sponsors: VanMan.Shop - Use code TAKEOVER for 10% off https://www.vesto.com/ - All of your company's financial accounts in one view Speechify.com/Ben - Use code Ben for 15% off Speechify Premium HTTOTW Premium - For all endnotes, takeaways, and bonus episode, subscribe to How to Take Over the World Premium --- Stay in touch: Twitter/X: @BenWilsonTweets Instagram: @HTTOTW Email me: Ben@takeoverpod.com Sources: Isaac Newton by James Gleick --- Writing, research, and production by Ben Wilson. Learn more about your ad choices. Visit megaphone.fm/adchoices

All-In with Chamath, Jason, Sacks & Friedberg Key Takeaways  Price is the most important thing: Many investors make the mistake of wanting to buy the good things irrespective of price, but investing in a great company that gets expensive is worse than investing in a bad company that is cheap It's all about real purchasing power: People always talk about markets “going up” without accounting for the denomination that those markets are measured in  – in this case, the declining US dollar “The dollar has been a strong currency, but not measured in gold or bitcoin.” – Ray During periods of structural fiat currency debasement, it is best to own assets that have the following characteristics: international, mobile, relatively private, secure Long-term risk of AI: Determining how the proverbial pie is divided will be a very political issue to navigate because the disruptive effects of AI will be enormous The AI “tech war” is a war that no country can lose because it is more important than profits: If the US or China loses this war, they will face significantly greater consequences than simply losing out on profitsIt is ideal to invest in productivity, but there will be great disruption along the way – perhaps even amongst the hyperscalers, such as NvidiaThe arithmetic debt spiral: The longer we wait to intervene, the more we will have to cut in the future to get out of the hole – the consequences of inaction compound non-linearly We need more than just DOGE to fix the current fiscal situation; we need less regulation, more productivity, and new streams of revenue While things are fine now, likely, a period of great conflict is ahead: A “hellacious” ten-year period is upon us in which our problems will be greater and our coordination for dealing with those problems will be less Read the full notes @ podcastnotes.org(0:00) Ray Dalio joins Friedberg! (0:50) The current US fiscal situation (6:23) Breaking down "The Big Debt Cycle," a potential US debt spiral, and the impact on real wealth (24:54) USD vs other currencies and assets, best hedges against the dollar (33:20) Portfolio construction, how China increases risk for US AI companies, why this market reminds Ray of 1998-1999 (41:45) How the US can avoid a debt crisis (53:29) DOGE, Trump, and AI's greatest risk (1:05:31) Chances of conflict between the US and China Follow the Besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow Ray Dalio: https://x.com/RayDalio Read Part 1 of "How Countries Go Broke": https://x.com/RayDalio/status/1878840018770210979 Pre-order "How Countries Go Broke": https://www.amazon.com/Principles-Investment-Economic-Ray-Dalio/dp/1501124064 Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: https://tradingeconomics.com/united-states/government-debt-to-gdp https://www.crfb.org/press-releases/treasury-confirms-calendar-year-2024-deficit-tops-20-trillion https://www.cbo.gov/publication/61172 https://www.institutionalinvestor.com/article/2bstne1l09npgdk1s5yww/corner-office/ray-dalio-makes-his-exit-from-bridgewater https://fred.stlouisfed.org/series/M2SL https://www.jpmorgan.com/insights/outlook/economic-outlook/fed-meeting-september-2024 https://www.forbes.com/sites/robertfarrington/2024/11/08/fed-cut-interest-rates-so-why-do-mortgage-rates-keep-climbing https://www.chathamfinancial.com/insights/fomc-recap-december-2024 https://www.cnbc.com/2025/01/14/a-global-bond-sell-off-is-deepening-as-hopes-for-multiple-fed-rate-cuts-fizzle.html

My First Million Key Takeaways Check out the episode pageRead the full notes @ podcastnotes.orgGet our Business Monetization Playbook: https://clickhubspot.com/monetization Episode 670: Sam Parr ( https://x.com/theSamParr ) and Shaan Puri ( https://x.com/ShaanVP ) talk to Andrew Wilkinson ( https://x.com/awilkinson ) about the AI tools that are replacing new hires.  — Show Notes:  (0:00) AI to kill admin work (7:37) the K-shaped future (16:29) 24/7 agents in your business (25:46) Software is the new commodity (38:40) Andrew's AI hedge investments (50:56) Buy, sell, or hold — Links: Lindy - https://www.lindy.ai/  Howie - https://howie.ai/  Fyxer - https://www.fyxer.com/  Fathom - https://fathom.video/  Otter - https://otter.ai/  Claude - https://claude.ai/  Zero - https://zerotax.ai/  Replit - https://replit.com/  Constellation - https://www.csisoftware.com/  — Check Out Shaan's Stuff: Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it's called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam's List - http://samslist.co/ My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

Founders ✓ Claim Key Takeaways  Greatness does not come from intelligence; it comes from character, which can only be earned from overcoming adversities and developing perseverance Strategy is not words; strategy is action The Mission is the Boss: Nvidia exists to serve a mission and not for the sake of perpetuating its existence Refuse to be outworked and be unapologetically extreme in your dedication; working long hours is a necessary prerequisite for excellence Do what is natural and organic to you so that you enjoy it and can do it for a long period The Speed of Light Framework for project execution: Instead of judging performance based on past performance or against the competition, judge yourself against the theoretical maximum of what can be achieved in the minimum amount of time; the law of physics should be your only constraint Jensen tortures people into greatness: “The work” is the most important thing, not people's feelings Hone the sword by seeking conflict: Opportunity handled well leads to more opportunity Innovation is a necessity, not an optionNvidia has a flat organizational structure that (1) Enables employees to act with more independence and (2) Filters out low-performing employees who are unaccustomed to thinking for themselves Ship the Whole Cow: Nvidia found ways to package and sell hardware that it previously would have discarded; this helped it mitigate low-end market competition and insulate itself from the innovator's dilemma Complacency kills: The enemy is not the competition, but the company falling victim to complacency –  both real and imagined  Read the full notes @ podcastnotes.orgWhat I learned from reading The Nvidia Way: Jensen Huang and the Making of a Tech Giant by Tae Kim.----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. ----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. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes 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. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

The Lunar Society Key Takeaways  While the AIs will be smart and conscientious, they will still face human bottlenecks, such as bureaucracies and committees at universitiesWe may not notice AI productivity gains on shorter timeframes: Even if they only boost economic growth by 0.5% per year, that is a massive productivity gain over 30-40 years! “There are going to be bottlenecks all along the way. It's going to be a tough slug – like the printing press, like electricity. The people who study diffusion of new technologies never think there will be rapid takeoff.” – Tyler CowenOpposition to AI will only increase as the technology starts to change what the world looks like There is increasing variance in the human distribution: Young people at the top are doing much better and are more impressive than they were in earlier times. The very bottom of the distribution is also getting better. But the “thick middle” is getting worse.Since humans are an input “other than the AI”, then humans will rise in marginal value, even if we will have to learn to do different thingsOn Popularity and Progress: There is a danger that as a thing becomes more popular, at the margin it becomes much worseThe Tyler Cowen Investment Philosophy: Buy and hold, diversify, hold on tight, make sure you have some cheap hobbies and can cook Tech diffusion is universally pretty slow: While people in the Bay Area are the smartest, most dynamic, and most ambitious, they tend to overvalue intelligence On progress: War should always be the main concern during a period of rapid technological progress; throughout history, when new technologies emerge, they are turned into instruments of war – and terrible things can happen  Read the full notes @ podcastnotes.orgI interviewed Tyler Cowen at the Progress Conference 2024. As always, I had a blast. This is my fourth interview with him – and yet I'm always hearing new stuff.We talked about why he thinks AI won't drive explosive economic growth, the real bottlenecks on world progress, him now writing for AIs instead of humans, and the difficult relationship between being cultured and fostering growth – among many other things in the full episode.Thanks to the Roots of Progress Institute (with special thanks to Jason Crawford and Heike Larson) for such a wonderful conference, and to FreeThink for the videography.Watch on YouTube. Listen on Apple Podcasts, Spotify, or any other podcast platform. Read the full transcript here.SponsorsI'm grateful to Tyler for volunteering to say a few words about Jane Street. It's the first time that a guest has participated in the sponsorship. I hope you can see why Tyler and I think so highly of Jane Street. To learn more about their open rules, go to janestreet.com/dwarkersh.Timestamps(00:00:00) Economic Growth and AI(00:14:57) Founder Mode and increasing variance(00:29:31) Effective Altruism and Progress Studies(00:33:05) What AI changes for Tyler(00:44:57) The slow diffusion of innovation(00:49:53) Stalin's library(00:52:19) DC vs SF vs EU Get full access to Dwarkesh Podcast at www.dwarkeshpatel.com/subscribe

Founders ✓ Claim Key Takeaways  Hetty Green's business maxims: 1. Seek out every piece of information on an investment before deciding on it2. Watch your pennies and the dollars will take care of themselves 3. Generally, in business, do not close a bargain until you have reflected on it overnight4. Before making a deal, if anyone is foolish enough to offer you the full amount, take it!5. Buy when everyone wants to sell and sell when everyone wants to buy  A defining character trait of Hetty: She lived by her own rules and did not care what other people thought; by casting off the societal norms of her time, she freed herself to do as she pleased and to live a life on her terms   The secret to all successful businesses and a simple strategy for wealth generation: Buy when prices are low and nobody wants them, and keep them until they go up and people become crazy to get them Hetty was self-sovereign, very frugal, and very paranoid: She did not tell other people what she owned or how much she was making, and commonly bought property and stocks under fictitious namesGreed does not drive the world, envy does; cure yourself of envy because envy is a weakness Some things on Hetty Green's list of things to NOT do in business:1. Do not cheat in business or you will find yourself in an early grave2. Do not fail to be fair in all things and do not kick a man when he is down 3. Do not envy your neighbors 4. Do not forget to be charitable and never falsify When it comes to living your life, you will inevitably have to neglect some things; if you try to do too much, you will never get anywhere  Read the full notes @ podcastnotes.orgHetty Green bailed out New York City. Her decisions on what interest rates to charge moved markets and were reported in major newspapers. She was a one woman bank and the single biggest individual financier in the world. She took no partners and ran her own money. She built a financial empire of stocks, bonds, railroads, and real estate. She battled the great men of her day and kept a gun on her desk. She did all of this alone. Defiantly independent and ferociously intelligent she built a vast, liquid fortune at a time when women couldn't even vote. She used her intelligence to increase her wealth, her independence to live as she wished, and her strength to battle anyone who stood in her way.This episode is what I learned from reading Hetty: The Genius and Madness of America's First Female Tycoon by Charles Slack and The Richest Woman in America: Hetty Green in the Gilded Age by Janet Wallach. ----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Vesto: All of your company's financial accounts in one view. Connect and control all of your business bank accounts from one dashboard. Go to Vesto and schedule a demo with the founder Ben. Tell him David sent you.  Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. ----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. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes 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. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

Modern Wisdom Key Takeaways  “Get away from our sons and away from our daughters. It's not left or right. I don't have a Republican bone in my body. Get the crazy people who do not understand human development away from our children.” – Eric Weinstein “Everything worth doing is hard – and the more worth doing it is, the harder it is. The greater the payoff, the greater the hardship. If it's hard, good. It means no one else will do it. More for you.” – Alex Hormozi Dr. Mike Israetel –  Focus on getting tension in the muscle that you are targeting; getting tension in the muscle you are trying to grow is more significant than focusing on which exercise movement is best Dr. Andrew Huberman – You can become a morning person in three days: Set your alarm to 5 AM, wake up and get out of bed when it goes off, get outside and safely view sunlight, do some form of exercise or movement while viewing the sunlight, ingest caffeine 60-90 mins after waking, and engage in some form of social interaction “The only way that you cannot be humble in old age is when you refuse to look at the reality of your life up to today.” – Dry Creek Dewayne Implement more exercise snacks, such as air squats, into your daily life; the positive effects of short bursts of vigorous energy expenditure through“non-exercise” methods will compound over time and can dramatically improve your health Oliver Burkeman – We often try to attain an impossible level of control over our lives; accept that you will never get life completely sorted outTim Ferriss – Develop identity diversification so that your self-worth is never dependent on just one thing, such as your job; this increases the resiliency and robustness of your mental healthJoe Hudson – The more you are willing to welcome the range of emotions that you will inevitably experience as a human, the more you are likely to welcome joy as a natural part of existence Read the full notes @ podcastnotes.org2024 is nearly over, so I decided to put together a compilation of some of my favourite moments from the show over the last year. It was going to be a top 10, but I couldn't choose, so it's 11. Expect to learn Andrew Huberman's best advice on how to become a morning person, why Oliver Burkeman thinks you should stop trying to control your life, the reason Eric Weinstein thinks more young men are becoming Right Wing, Dr Mike Israetel's most important advice for choosing muscle-building exercises, Alex Hormozi's advice on why everything worth doing is hard and much more... Sponsors: See discounts for all the products I use and recommend: https://chriswillx.com/deals Get a 20% discount on the best supplements from Momentous at https://livemomentous.com/modernwisdom Get 5 Free Travel Packs, Free Liquid Vitamin D, and more from AG1 at https://drinkag1.com/modernwisdom Get the Whoop 4.0 for free and get your first month for free at https://join.whoop.com/modernwisdom Extra Stuff: Get my free reading list of 100 books to read before you die: https://chriswillx.com/books Try my productivity energy drink Neutonic: https://neutonic.com/modernwisdom Episodes You Might Enjoy: #577 - David Goggins - This Is How To Master Your Life: https://tinyurl.com/43hv6y59 #712 - Dr Jordan Peterson - How To Destroy Your Negative Beliefs: https://tinyurl.com/2rtz7avf #700 - Dr Andrew Huberman - The Secret Tools To Hack Your Brain: https://tinyurl.com/3ccn5vkp - Get In Touch: Instagram: https://www.instagram.com/chriswillx Twitter: https://www.twitter.com/chriswillx YouTube: https://www.youtube.com/modernwisdompodcast Email: https://chriswillx.com/contact - Learn more about your ad choices. Visit megaphone.fm/adchoices

Invest Like the Best Key Takeaways  “In life, you learn very little when things go right. You learn a lot when things go wrong.” – Jared Kushner You cannot worry about the things that you cannot change; have radical acceptance and focus on the things that you can do to understand the problem better Focus on being long-term greedy: Create win-wins by convincing your counterparts, who have more leverage, to do something that you want to do by catering to their interests more than their sympathies or fearsFocus on the next deal instead of the last dollarTo understand what a person wants, you have to listen! Find the smartest people you can who have a vested interest in the situation, and ask them about their perspective“I wouldn't die for my beliefs because my beliefs might be wrong.” – Unknown Practice humility and always recheck your assumptionsTo be successful, you have to make three good decisions per yearThe foundational question Jared asks himself when faced with a challenging problem:“How would you want to be a role model for your children?” “Ultimately, I think the topic that will probably be the most impactful of the next four years will be how President Trump deals with artificial intelligence and what could be AGI or superintelligence, and how this is coming very rapidly.” – Jared Kushner Work should not be distributed; when you find something worthwhile, go all in on it Four investing principles: (1) Identify the big macro trends (2) Back phenomenal people and teams (3) Invest in businesses with structural advantages or moats (4) Be selective in where and who you invest withThe two most important questions to ask yourself are: What do you want and what are you solving for? Give everyone the benefit of the doubt; you never know what people are going through in a given moment Read the full notes @ podcastnotes.orgMy guest today is Jared Kushner. Jared has lived more lives than just about anyone I know his age. He ran Kushner companies for years, investing in real estate in and around New York City. He owned the New York Observer. He was a senior advisor to President Trump in his first term. He now runs Affinity Partners, which we discuss in detail, a private equity firm built to find and execute unique investments around the world that stem from Jared's unique set of experiences in business and government. This is one of our longest episodes ever because there was so much to discuss. We cover real estate, negotiation, geopolitics, his work in prison reform, Operation Warp Speed, and the Abraham Accords in the Middle East, business, investing, his family, and everything in between. Jared told me I could ask him about anything--and I really enjoyed doing so. Please enjoy my conversation with Jared Kushner. My guests today For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Alphasense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. AlphaSense provides access to over 300 million premium documents, including company filings, earnings reports, press releases, and more from public and private companies. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. –- This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com to learn more about the platform. –- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest growing FinTech company in history and it's backed by more of my favorite past guests (at least 16 of them!) than probably any other company I'm aware of. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:08:45) Jared's Philosophy on Challenges and Success (00:13:38) Real Estate Ventures: The 666 Fifth Avenue Story (00:20:31) Lessons from New York Real Estate (00:30:04) Diplomacy and the Middle East (00:37:03) Leadership and Change (00:41:14) Geopolitical Landscape and Future Prospects (00:47:53) Affinity Partners: Vision and Strategy (00:52:42) Navigating Market Shifts (00:54:39) Case Study: Mexico Investment (00:58:34) Global Investment Strategies (01:02:42) Investment Philosophy and Principles (01:07:04) Challenges and Problem-Solving (01:23:14) Government Efficiency and Bureaucracy (01:34:57) Stepping into the Spotlight (01:37:19) Manifesting Success with Partners (01:38:05) Learning from Brad Jacobs (01:42:09) Middle East Economic Development (01:46:08) The Qatar-Saudi Reconciliation (01:52:25) Perceptions of Key Middle Eastern Countries (02:07:34) Preparing for Trump's Return (02:14:36) Early Days of Thrive Capital (02:16:56) Helping Entrepreneurs and Building Thrive (02:24:51) Lessons from My Father (02:37:47) Future Vision and AI (02:48:45) The Kindest Thing Anyone Has Ever Done For Jared

Modern Wisdom Key Takeaways Check out the episode pageRead the full notes @ podcastnotes.orgDavid Senra is the host of Founders podcast and an investor. Every success story is like a unique song, composed with different instruments. Yet, when you listen closely, many of them share the same underlying rhythms. So, what are the core principles that play a key role in the lessons of the most successful individuals from history? Expect to learn why excellence is defined by the capacity to take & manage pain, why having high powered relationships is the secret to running the world, if self-pity has any utility, the reason that bad boys move in silence, why the story of the father is embedded in the story of the son and much more… Sponsors: See discounts for all the products I use and recommend: https://chriswillx.com/deals Get the best bloodwork analysis in America and bypass Function's 400,000-person waitlist at https://functionhealth.com/modernwisdom Take advantage of NetSuite's special financing offer at https://netsuite.com/MODERN Get 5 Free Travel Packs, Free Liquid Vitamin D, and more from AG1 at https://drinkag1.com/modernwisdom Sign up for a one-dollar-per-month trial period from Shopify at https://shopify.com/modernwisdom Extra Stuff: Get my free reading list of 100 books to read before you die: https://chriswillx.com/books Try my productivity energy drink Neutonic: https://neutonic.com/modernwisdom Episodes You Might Enjoy: #577 - David Goggins - This Is How To Master Your Life: https://tinyurl.com/43hv6y59 #712 - Dr Jordan Peterson - How To Destroy Your Negative Beliefs: https://tinyurl.com/2rtz7avf #700 - Dr Andrew Huberman - The Secret Tools To Hack Your Brain: https://tinyurl.com/3ccn5vkp - Get In Touch: Instagram: https://www.instagram.com/chriswillx Twitter: https://www.twitter.com/chriswillx YouTube: https://www.youtube.com/modernwisdompodcast Email: https://chriswillx.com/contact - Learn more about your ad choices. Visit megaphone.fm/adchoices

Invest Like the Best Key Takeaways  Knowledge, money, and power are connecting in ways that we have not seen for the last 500 years “This moment is probably the most interesting moment of the last 100 years in terms of the opportunity set that is going to come from it.” – Micky Malka There is no winning and losing if you are playing an infinite game; once you are ahead, you have to change the rules of the game so that you will fall behindThe game is better played when you are trying to get ahead and not when you are ahead and trying to prevent people from passing you Every time money becomes better, people live better lives Burn the bridge that got you here; whatever got you here will not get you to the next phase Be more concentrated and have more conviction Life and business principles from Micky Malka:1. Never forget where you came from 2. Fewer decisions is best 3. Be genuine to yourself and those around you How to build a strong team: Instead of identifying a job title and then looking for a person to fill it, just look for amazing people that you want to work with, then hire them We will need streaming data and streaming money to enable automated services; people who understand both of these fields can build paradigm-shifting technologies Returns are an output metric; focus on the input and let the output take care of itself How to create magical outputs: (1) Create a team that is passionate about meeting others, engaging, and learning, and (2) Ensure that the inputs to the team's machine will make the world better Read the full notes @ podcastnotes.orgMy guest today is Micky Malka. Micky is the founder of Ribbit Capital, a global venture capital firm that focuses exclusively on financial technology investments. He is a renowned investor for his adaptability and visionary approach and a believer in killing the thing that got you to where you are in pursuit of what's next. We discuss his perspective on fintech's evolution and why his firm boldly declares that “fintech is dead.” We dive into his theory of the "grid," which examines how knowledge, wealth, and power are being transformed by technological changes, particularly through the rise of AI, cryptocurrency, and network states. And we also explore Micky's deep interest in digital art and NFTs, which he sees as early indicators of broader cultural and technological shifts. You'll soon hear how he is truly taking a generative approach on all fronts. Please enjoy this in-depth conversation with Micky Malka.  My guests today For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Alphasense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. AlphaSense provides access to over 300 million premium documents, including company filings, earnings reports, press releases, and more from public and private companies. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegas help you make smarter decisions faster. — This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest-growing FinTech company in history, and it's backed by more of my favorite past guests (at least 16 of them!) than probably any other company I'm aware of. It's also notable that many best-in-class businesses use Ramp—companies like Airbnb, Anduril, and Shopify, as well as investors like Sequoia Capital and Vista Equity. They use Ramp to manage their spending, automate tedious financial processes, and reinvest saved dollars and hours into growth. At Colossus and Positive Sum, we use Ramp for exactly the same reason. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.  Follow us on Twitter: @patrick_oshag | @JoinColossus Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:06:37) The Rebel Spirit of Ribbit (00:07:36) Ribbit's Unique Structure and Philosophy (00:08:07) The First Fund and Institutional Partners (00:09:03) Founding Principles and No Labels Approach (00:13:44) Early Investments and the Crypto Angle (00:16:42) The FinTech Evolution and Market Dynamics (00:22:30) Navigating Challenges: The Robinhood Story (00:28:57) The Global Digital Grid Concept (00:36:09) The Future of Digital Identity and Tokenization (00:41:00) The Role of Stablecoins in the Modern Economy (00:50:16) The Challenge of Adaptability (00:53:05) The Role of Heart in Business (00:55:19) The Walmart Partnership Story (01:00:07) Lessons from NuBank (01:02:49) Building a Strong Team (01:09:28) The Importance of Brand (01:11:52) Art and Its Future (01:17:20) The Impact of Better Money (01:19:27) Reflections and Future Plans (01:28:03) Handling Crises and Embracing Movement (01:31:40) The Kindest Thing Anyone Has Done For Micky

BG2Pod with Brad Gerstner and Bill Gurley Key Takeaways  The basics of business strategy: Recognize your structural position in the market, understand where you have permission in the market from your partners and customers who want you to win, and then do those obvious things first “I think the company of this generation has already been created, which is OpenAI.” – Satya Nadella To properly evaluate the AI arms race, you have to analyze it structurally by layer The year 2025 will be the year of infinite AI memory; the next 10x function of ChatGPT is its having a persistent memory combined with it being able to take action on our behalf Increasingly, Mag-7 capital expenditure resembles industrial companies more so than traditional software companies Continued advancements in the AI tier may collapse the traditional application categories How model capability will increase: Pre-training and test-time sampling create the tokens that can go back into pre-training, which creates even more powerful models that can then run on your inference How to be successful in life and business:Pattern-match periods in which you are successful and in which you are not, then do more of the behaviors that you did during your successful periods Read the full notes @ podcastnotes.orgOpen Source bi-weekly convo w/ Bill Gurley and Brad Gerstner on all things tech, markets, investing & capitalism. This week they are joined by Satya Nadella, CEO of Microsoft, to discuss becoming Microsoft's CEO, Advice for CEO's, Microsoft's Investment in OpenAI, Legacy Search, Ten Blue Links, Consumer and Enterprise AI, The Future of AI Agents, Infinite Memory, CoPilot, Microsoft's Capital Expenditure, Open AI's future, AI safety & more. Enjoy another episode of BG2. Timestamps: (00:00) Intro (01:31) Becoming Microsoft CEO (06:42) Satya's Memo to CEO Committee  (10:42) Satya's Advantage as a CEO (11:34) Advice for CEOs (15:01) Microsoft's Investment in OpenAI (19:42) AI Arms Race (23:55) Legacy Search and Consumer AI (28:07) The Future of AI Agents (38:32) Near-Infinite Memory (39:47) Copilot Approach to AI Adoption (50:26) Leveraging AI within Microsoft (56:03) CapX (01:00:20) The Cost of Model Scaling and Inference (01:15:15) Open AI Conversion to Profit (01:18:05) Next Steps for OpenAI (01:19:43) Open vs. Closed and Safe AI Available on Apple, Spotify, www.bg2pod.com Follow: Brad Gerstner @altcap Bill Gurley @bgurley BG2 Pod @bg2pod #BillGurley #BradGerstner #Bg2Pod

Lenny's Podcast: Product | Growth | Career ✓ Claim Key Takeaways  A brand is not a logo; it is a promise and what the customer expects from your product The goal is not to make the product perfect for you, it is to delight your customer The key to building a brand: Make a promise and keep it Do not sacrifice your agency over the four most crucial things that you should be choosing: your customers, competition, source of validation, and distributionOn the role of tension in strategy: The customer should consider what their life would be like if your product delivers on what it promises to do “If it scares you, it might be a good thing to try.” – Seth Godin Better waves make better surfers: Much of your success is determined by choosing the wave and not the skills that you have  Professionals do their work in a non-narcissistic way: You can't paint a picture of where you want to go; instead, you should paint a picture of where theywant to goBe of service to others! “It is very difficult to change what people want, but it is helpful to offer people a chance to get where they always wanted to go in the first place.” – Seth Godin  Read the full notes @ podcastnotes.orgSeth Godin is a legend. He's a marketer, teacher, entrepreneur, and author of more than 20 books, including Purple Cow, Permission Marketing, and Linchpin. He also writes one of the most popular and longest-running blogs in the world (approaching publishing 10,000 in a row!) and continues to shape how we think about marketing, brand, product, and creating lasting change in the world. In our conversation, we discuss:• How to build remarkable products that spread• The four critical strategic choices that determine your future• How to develop good taste and high standards• The role of tension in great strategy• How Seth used Claude to write his newest book• Much more—Brought to you by:• DX—A platform for measuring and improving developer productivity• Vanta—Automate compliance. Simplify security• Paragon—Ship every SaaS integration your customers want—Find the transcript at: https://www.lennysnewsletter.com/p/seth-godins-tactics-for-building-remarkable-products—Where to find Seth Godin:• Blog: http://seths.blog/• LinkedIn: https://www.linkedin.com/in/sethgodin• Website: https://www.sethgodin.com—Where to find Lenny:• Newsletter: https://www.lennysnewsletter.com• X: https://twitter.com/lennysan• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/—In this episode, we cover:(00:00) Seth's background(05:17) Understanding good taste and upholding high standards(08:09) Become the best at whatever you do(09:48) Seth's journey as a product manager(14:09) What people often get wrong when building products(16:00) Building a brand in the age of AI(19:04) Using AI to enhance writing(22:40) Four critical elements for an effective strategy(27:38) The role of tension in strategy(29:15) The concept of the purple cow(33:11) "Safe is risky"(34:56) The power of systems(37:07) Better waves make better surfers(38:10) Rebranding vs. re-logoing(43:07) Empathetic leadership(44:14) Conclusion and farewell—Referenced:• Seth Godin on the Tim Ferriss Show: https://tim.blog/2024/03/20/seth-godin-3/• Persuasive communication and managing up | Wes Kao (Maven, Seth Godin, Section4): https://www.lennysnewsletter.com/p/persuasive-communication-wes-kao• Spinnaker: https://spinnaker.io• Ray Bradbury: https://en.wikipedia.org/wiki/Ray_Bradbury• Arthur C. Clarke: https://en.wikipedia.org/wiki/Arthur_C._Clarke• Isaac Asimov: https://en.wikipedia.org/wiki/Isaac_Asimov• Roger Zelazny: https://en.wikipedia.org/wiki/Roger_Zelazny• Herbie Hancock: https://en.wikipedia.org/wiki/Herbie_Hancock• Fahrenheit 451 (game): https://www.filfre.net/2013/09/fahrenheit-451-the-game/• RTFM: https://en.wikipedia.org/wiki/RTFM#• Intercom: https://www.intercom.com• Claude: https://claude.ai• ChatGPT: https://chatgpt.com• Anthropic: https://www.anthropic.com• Steam: https://store.steampowered.com• P.F. Flyers: https://pfflyers.com• Steve Blank's website: https://steveblank.com• Marissa Mayer on X: https://x.com/marissamayer• Jaguar unveils new logo ahead of electric relaunch: https://www.bbc.com/news/articles/cgr0pw00n7qo• IHOP Becomes IHOb, the International House of ... Burgers: https://www.npr.org/2018/06/11/618844977/ihop-becomes-ihob-the-international-house-of-burgers• Oreo's Super Bowl Power-Outage Tweet Was 18 Months in the Making: https://www.businessinsider.com/oreos-super-bowl-power-outage-tweet-was-18-months-in-the-making-2013-3• Tesla's New ‘Ludicrous Mode' Makes the Model S a Supercar: https://www.wired.com/2015/07/teslas-new-ludicrous-mode-makes-model-s-supercar—Recommended books:• This Is Strategy: Make Better Plans (Create a Strategy to Elevate Your Career, Community & Life): https://www.amazon.com/This-Strategy-Better-Elevate-Community/dp/B0D47T8S7N• Purple Cow: Transform Your Business by Being Remarkable: https://www.amazon.com/Purple-Cow-New-Transform-Remarkable/dp/1591843170—Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.—Lenny may be an investor in the companies discussed. Get full access to Lenny's Newsletter at www.lennysnewsletter.com/subscribe

Invest Like the Best Key Takeaways  As of late 2024, the AI industry is shifting from a pre-training compute approach to test-time compute Understanding the difference between pre-training and test-time compute: Pre-training occurs before testing and involves more complex, resource-intensive computation, whereas test-time compute is typically faster and focuses only on making inferencesMoving from pre-training to inference-time is a powerful paradigm shift for the AI industry1. It better aligns revenue generation and expenditures; this is beneficial for the industry at-large  2. Having to re-architect the computing network creates new opportunities and considerations related to power generation and grid designTest-time compute better aligns the compute and expenditures of the model, relative to pre-training; this is better for the hyperscalers from an efficiency perspective The plateau in pre-training has enabled small teams to catch up to the state-of-the-art models; the proliferation of open source models, specifically what Meta has done with Llama, has been an extraordinary force for AI scaling  If the plateau in pre-training continues, small teams will be able to “jump to the frontier” of model training for a specific AI use case; this allows reduces competition amongst the hyperscalers It is likely for two of the Mag7 companies, such as Google and Meta, to give away an AI search product similar to ChatGPT for free OpenAI is “very serious about achieving AGI”; that is the company's mission, and everything else the company does is in service of that Stability at the model layer will enable optimization at the various layers above it; when the industry is in “land-grab” mode, there is not any time to optimize! Over the long-term, technology is deflationary because it is a matter of optimization When technology unlocks, distribution also unlocks; this means that startups can now acquire customers that were previously too expensive to get “I imagine that we'll be pretty close to or at AGI in 2025.” – Chetan Puttagunta Read the full notes @ podcastnotes.orgMy guests today are Chetan Puttagunta and Modest Proposal. Chetan is a General Partner at venture firm Benchmark, while Modest Proposal is an anonymous guest who manages a large pool of capital in the public markets. Both are good friends and frequent guests on the show, but this is the first time they have appeared together. And the timing couldn't be better - we might be witnessing a pivotal shift in AI development as leading labs hit scaling limits and transition from pre-training to test-time compute. Together, we explore how this change could democratize AI development while reshaping the investment landscape across both public and private markets. Please enjoy this discussion with Chetan Puttagunta and Modest Proposal. My guests today For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest growing FinTech company in history and it's backed by more of my favorite past guests (at least 16 of them!) than probably any other company I'm aware of. It's also notable that many best-in-class businesses use Ramp—companies like Airbnb, Anduril, and Shopify, as well as investors like Sequoia Capital and Vista Equity. They use Ramp to manage their spending, automate tedious financial processes, and reinvest saved dollars and hours into growth. At Colossus and Positive Sum, we use Ramp for exactly the same reason. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. – This episode is brought to you by Alphasense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. AlphaSense provides access to over 300 million premium documents, including company filings, earnings reports, press releases, and more from public and private companies. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegas help you make smarter decisions faster. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.  Follow us on Twitter: @patrick_oshag | @JoinColossus Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:05:30) Introduction to LLM Scaling Challenges (00:07:25) Synthetic Data and Test Time Compute (00:08:53) Implications of Test Time Compute (00:11:19) Public Tech Companies and AI Investments (00:16:58) Small Teams and Open Source Models (00:29:02) Strategic Positioning of Major AI Players (00:35:49) AGI and Future Prospects (00:46:50) AI Application Layer and Investment Opportunities (00:54:18) The Paradigm Shift in AI Reasoning (00:55:34) Investing in AI-Powered Solutions (00:58:46) Economic Impacts of AI Advancements (01:00:19) The Future of AI and Model Stability (01:02:52) Private Market Valuations and Compute Costs (01:05:05) Infrastructure and Utilization in AI (01:12:50) The Role of Hyperscalers and GPUs (01:18:02) The Evolution of AI Applications (01:27:56) Philosophical Questions on AGI and ASI (01:34:31) The Importance of Innovation Hubs

My First Million Key Takeaways Check out the episode pageRead the full notes @ podcastnotes.orgEpisode 653: Shaan Puri ( https://x.com/ShaanVP ) talks to Furqan Rydhan ( https://x.com/FurqanR ) about the biggest opportunities in AI right now.  — Show Notes:  (0:00) Intro (4:42) Define the Job-to-be-done (8:20) How to build an AI Agent workflow (11:16) AI Tools break down (27:05) How Polymarket won (31:48) Why VR is a sleeping giant? (44:43) Be a lifelong player in tech (58:52) The unbeatable combination (1:02:27) Adam Foroughi's A+ execution (1:18:35) Betting on -1 to 0 — Links: • Furqan's site - https://furqan.sh/  • Founders, Inc - https://f.inc/  • Applovin - https://www.applovin.com/  • Claude - https://claude.ai/  • OpenAI - https://platform.openai.com/  • Langchain - https://www.langchain.com/  • AutoGen - https://autogenai.com/  • Crew - https://www.crewai.com/  • CloudSDK - https://cloud.google.com/sdk/  • Perplexity - https://www.perplexity.ai/  • “Attention is all you need” - https://typeset.io/papers/attention-is-all-you-need-1hodz0wcqb  • Anthropic - https://www.anthropic.com/  • Third Web - https://thirdweb.com/  • Luna's AI Brain - https://terminal.virtuals.io/  • Oasis - https://oasis.decart.ai/welcome  • Polymarket - https://polymarket.com/  • Gorilla Tag - https://www.gorillatagvr.com/  • Yeeps - https://tinyurl.com/59z2yrdu  — Check Out Shaan's Stuff: Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it's called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam's List - http://samslist.co/ My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

My First Million Key Takeaways  Instead of focusing on how something might fail, consider how big the idea could be if everything worked out You don't always want to sit behind a defensive moat; sometimes, a high-velocity attack is the best way to win Mental models from one discipline are often applicable in another discipline; cross-pollinate ideas and concepts across disciplines and you may discover something novel The key to success is dumb competition; competing against knuckleheads increases your chances of successFocusing on making money will cause you to make less money; nobody wants to give money to people who are too focused on making money It is fine to want money, but wealth is a paradox; the more of it you want, the less of it you get It is better to focus on things that are upstream of making money, such as solving problems and developing skills that are valuable to other people The greatest returns in investing come from allowing the compounding machine to run; do not make decisions or engage in behavior that interrupts the compounding machine You have a massive arbitrage opportunity if you can avoid mimetic desire in venture capital investing In life and business, you can just do things! You don't always need permission Read the full notes @ podcastnotes.orgEpisode 648: Shaan Puri ( https://x.com/ShaanVP ) talks to Flexport founder Ryan Petersen ( https://x.com/typesfast ) about playing both games: bootstrapping a startup to millions and raising venture capital to build a multi-billion dollar company.  — Show Notes:  (0:00) Import Genius (5:36) Paul Graham's superpower (9:34) Data-as-a-service framework (13:51) Charlie Munger's worldly wisdom (19:45) Prioritizing adventure (24:09) The paradox of wealth (28:51) Charlie Munger's student experiment (31:00) Negotiation masterclass (37:23) Inside Founders Fund (43:16) Being in a crowd v following a crowd (46:29) Highs and lows (48:52) "You can just do things" (50:16) Unseen arbitrages (53:00) $50M Phone booths — Links: • Flexport - https://www.flexport.com/  • Flexport on X - https://x.com/flexport • ImportGenius - https://www.importgenius.com/  • Schlep Blindness - https://paulgraham.com/schlep.html • Poor Charlie's Almanack - https://www.stripe.press/poor-charlies-almanack  • Founders Fund - https://foundersfund.com/  — Check Out Shaan's Stuff: Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it's called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam's List - http://samslist.co/ My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

All-In with Chamath, Jason, Sacks & Friedberg Key Takeaways  The Trump win represents a dismissal of Wokeism and judgmentalism and is a ringing endorsement of meritocracy and common sense Donald Trump has increased his support across the electorate; except for two demographic groups (65+ and white college women), every single demographic group shifted towards Republican from 2020 to 2024 Comparing Trump votes from 2020 to 2024 in areas that are bastions of elitist liberal thinking:In California, Trump lost by 29 points in 2020; he lost by 17 points in 2024 In New York, Trump lost by 23 points in 2020; he lost by 12 in 2024 The current Democratic Party base consists of the elites: The overeducated, affluent, and non-religious types who are disconnected from the reality of most AmericansIf these people stay in control of the Democratic Party, the Republicans will probably have an electoral majority for the foreseeable future “I think that the Democrats will lose one of California or New York in the next eight years.” – Chamath “The legacy media spell is broken. Their credibility has been destroyed and I think that the repudiation of the legacy media is one of the most important  results of this election. It just shows that the Democrats had a trillion-dollar propaganda machine on their side and Trump was still able to win.” – David Sacks  Science is the constant process of questioning whether you are right or wrong; reasserting the scientific process of skepticism in federal agencies may help restore trust and faith in our institutions“In the most basic calculation, the bottom fell out of the Democratic Party.” – Chamath Donald Trump won because his focus is on solving real problems that are affecting Americans  “Americans love winners and innovation, and they hate socialism and woke nonsense – it's time for a hard reset.” – Jason Read the full notes @ podcastnotes.org(0:00) Bestie intros! (4:55) Sacks recaps election night at Mar-a-Lago (8:28) Analyzing the results: how Trump won, why Kamala and the Democratic Party lost (25:55) The failing Democratic coalition, campaign spend disparity, Trump's advantage in earned media (37:59) What mattered most: Policy, Candidate, or Campaign? (50:44) GOP will likely win House and Senate, potential cabinet positions, avoiding neocons (1:10:42) Cabinet positions, shaking up the unelected bureaucratic branch (1:28:47) California rejects progressives (1:35:17) Abortion laws being settled around the US Get tickets for The All-In Holiday Spectacular!: https://allin.ticketsauce.com/e/all-in-holiday-spectacular Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: https://x.com/twobitidiot/status/1854192602985255042 https://www.270towin.com/2024-election-results-live/president https://x.com/ChrisCillizza/status/1854515791690953066 https://www.youtube.com/watch?v=_e8-KX3XKL8 https://x.com/Jason/status/1854209590424121464 https://x.com/SawyerMerritt/status/1854045298475110779 https://x.com/DavidSacks/status/1854342908356297068 https://x.com/arifleischer/status/1854270972775305291 https://www.fec.gov/data/spending-bythenumbers/?office=P https://www.usnews.com/news/national-news/articles/2024-11-01/16-billion-will-be-spent-in-the-2024-election-wheres-it-all-going https://x.com/DavidSacks/status/1829383729284067659 https://www.snopes.com/fact-check/trump-very-fine-people https://x.com/TheRabbitHole84/status/1840977783247286429 https://www.cnn.com/election/2024 https://polymarket.com/event/house-control-after-2024-election https://x.com/MarioNawfal/status/1854536321282519396 https://www.instagram.com/p/DCFJ4mlsmEG/?hl=en https://x.com/DavidSacks/status/1854202717637411199 https://www.scotusblog.com/2024/06/supreme-court-strikes-down-chevron-curtailing-power-of-federal-agencies https://x.com/chamath/status/1854229735477551600 https://www.nbcnews.com/politics/2024-election/la-district-attorney-progressive-loses-re-election-gascon-rcna175906 https://www.nytimes.com/interactive/2024/11/05/us/elections/results-abortion.html

Pomp Podcast Key Takeaways  The fundamental aspect of the American Dream is creating a better life for your kids than the one you livedTwo-thirds of the American workforce has a high school education, and only one-third has a college education; on average, a person with a college education lives seven years longer than a person without one “Right now, I am focused on: ‘What's the right move for America?' And that's why I'm all in with Donald Trump – his policies, his thinking, his way of just looking at things, his intuition. It's just right.” – Howard Lutnick In the past, the Democratic Party used to be the party for the workers, and the Republican Party was the party for businesses, but this has completely shiftedCoastal elite nonsense has infiltrated the Democratic Party; it no longer represents the working class as it once didInstead of taxing the hell out of the American people, what if the US government made money off tariffs when other countries bought our stuff?All of the fentanyl that makes its way into the US comes from China; something nefarious might be at play, given the damage this drug is doing to America's youth and working-class After the 9/11 attacks, Howard Lutnick pledged to forgo his salary and bonuses for several years to support the families of Cantor Fitzgerald employees who lost their lives“Everytime bitcoin dips, I'm going to be the buyer.” – Howard Lutnick He has “hundreds and hundreds of millions of dollars” worth of exposure to Bitcoin, and one day expects his stack to be worth billions “Bitcoin will be way way way higher, sometimes lower. You just have to have faith.” – Howard Lutnick    Read the full notes @ podcastnotes.orgHoward Lutnick is the CEO of Cantor Fitzgerald. Howard is one of the most interesting people in finance, he is a billionaire, and has incredible ideas to improve America. In this conversation, we talk about the national debt, inflation, why he is the co-head of the Trump transition team, what their plan is to balance the budget, how they are going to change things around economically, and a touching story about 9/11.  ======================= Buy book: https://www.amazon.com/Live-Extraordinary-Life-Anthony-Pompliano/dp/0857199927/ ======================= Gemini is the safe and secure way to trade crypto. Gemini is offering eligible new users the opportunity to earn $100 in BTC when they trade $1000 in crypto within their first 30 days of signing up. Head over to ⁠https://www.gemini.com/partners/pomp⁠ and start trading crypto to earn $100 in BTC. ======================= The Pomp Podcast is powered by BetOnline.ag, the premier crypto-friendly place to gamble on politics and sports, casino, poker and horse racing. BetOnline.ag gives you the ability to use Bitcoin and more than a dozen altcoins to make deposits and withdraw your winnings. There are no crypto transaction fees, and processing is instantaneous and secure. Visit ⁠⁠⁠⁠https://promotions.betonline.ag/pomp⁠⁠⁠⁠ and use PROMO CODE: POMP100 to receive a 100% matching bonus on any crypto deposit. BetOnline.ag is available in nearly every country around the world, making it the top global gaming destination for crypto users. ======================= Pomp writes a daily letter to over 265,000+ investors about business, technology, and finance. He breaks down complex topics into easy-to-understand language while sharing opinions on various aspects of each industry. You can subscribe at https://pomp.substack.com/ ======================= View 10k+ open startup jobs: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://dreamstartupjob.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Enroll in my Crypto Academy: https://www.thecryptoacademy.io/

My First Million Key Takeaways  Paradoxically, life gets easier when you choose to do hard things Have a goal that you can strive towards, but be cognizant of how you feel along the way in pursuit of that goal One of the hardest things in life is figuring out what you want “I think everybody should get rich and famous and do everything they ever dreamed of so they can see that it's not the answer.” – Jim Carey You have emotional sovereignty in how you choose to react to everything that happens in life; exercise and develop that sovereignty so that you can live the fullest life possible How Cheap is Your Happiness: Don't let the smallest inconvenience take you out of the beautiful state of being that is happiness“I just do what's cool to me, and sometimes the whole world agrees.” – Mike Posner Read the full notes @ podcastnotes.orgEpisode 640: Shaan Puri ( https://x.com/ShaanVP )sits down with Mike Posner ( https://x.com/MikePosner ) about his insane hustle, fame, loss and reinvention. — Show Notes:  (0:00) iTunesU Story (14:41) Going back to school, famous (21:40) Getting on the radio (26:40) “I just do what's cool to me and sometimes the whole world agrees” (30:06) One true sentence / Writing Process (39:50) Money, fame and Survivor (46:52) Advice to my younger self (48:10) Missed flight story (58:00) The making of a hit song (1:04:31) Walking Across America (1:11:09) "How cheap is your happiness?" (1:14:17) Beautiful States v Suffering States — Links: • Mike Posner - https://mikeposner.com/ — Check Out Shaan's Stuff: Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it's called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam's List - http://samslist.co/ My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

Founders ✓ Claim Key Takeaways  “If Steve Jobs studied Edwin Land, I think every other founder should as well.” – David Senra Optimize for breadth as well as depth; hire the chemist who does photography on the side! Something magical exists at the intersection of the humanities and the sciences “Missionaries make better products.” – Jeff Bezos Missionaries and mercenaries are the two types of people that will be attracted to a companyWhile the mercenaries are there for the perks, status, and money, the missionaries are there to make better products because they believe in what the company is doingLeverage the power of demonstration: No argument in the world can compare with one dramatic demonstrationA first-class product needs first-class packaging and marketing! The founder is the guardian of the company's soul If you are lucky enough to find your life's work, why would you quit? You should take yourself seriously, but don't make yourself miserable; none of us get out of this alive Read the full notes @ podcastnotes.orgWhat I learned from rereading Instant: The Story of Polaroid by Christopher Bonanos. ----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Founders Notes gives you the superpower to learn from history's greatest entrepreneurs on demand. You can search all my notes and highlights from every book I've ever read for the podcast. Get access to Founders Notes here. ----Join my free email newsletter to get my top 10 highlights from every book----Episode Outline: — The most obvious parallel is to Apple Computer. Both companies specialized in relentless, obsessive refinement of their technologies. Both were established close to great research universities to attract talent. Both fetishized superior, elegant, covetable product design. And both companies exploded in size and wealth under an in-house visionary-godhead-inventor-genius. At Apple, that man was Steve Jobs. At Polaroid, the genius was Edwin Land. Just as Apple stories almost all lead back to Jobs, Polaroid lore always seems to focus on Land.— Both men were college dropouts; both became as rich as anyone could ever wish to be; and both insisted that their inventions would change the fundamental nature of human interaction.— Jobs expressed his deep admiration for Edwin Land. He called him a national treasure.— Books on Edwin Land:Land's Polaroid: A Company and the Man Who Invented It by Peter C. Wensberg (Founders #263)A Triumph of Genius: Edwin Land, Polaroid, and the Kodak Patent War by Ronald Fierstein (Founders #134)Land's Polaroid: A Company and the Man Who Invented It by Peter C. Wensberg (Founders #133)The Instant Image: Edwin Land and the Polaroid Experience by Mark Olshaker (Founders #132)Insisting On The Impossible: The Life of Edwin Land and Instant: The Story of Polaroid(Founders #40)— Biography about Steve Jobs: Becoming Steve Jobs: The Evolution of a Reckless Upstart into a Visionary Leader by Brent Schlender and Rick Tetzeli— Edwin Land of Polaroid talked about the intersection of the humanities and science. I like that intersection. There's something magical about that place. There are a lot of people innovating, and that's not the main distinction of my career. The reason Apple resonates with people is that there's a deep current of humanity in our innovation. I think great artists and great engineers are similar, in that they both have a  desire to express themselves. In fact some of the best people working on the original Mac were poets and musicians on the side. In the seventies computers became a way for people to express their creativity. Great artists like Leonardo da Vinci and Michelangelo were also great at science. Michelangelo knew a lot about how to quarry stone, not just how to be a sculptor. —  Steve Jobs: The Exclusive Biography by Walter Isaacson (Founders #214)— Book on Henry Ford:I Invented the Modern Age: The Rise of Henry Ford by Richard Snow (Founders #9)The Autobiography of Henry Ford by Henry Ford (Founders #26) Today and Tomorrow Henry Ford (Founders #80) My Forty Years With Ford by Charles Sorensen  (Founders #118)The Story of Henry Ford and Thomas Edison's Ten Year Road Trip by Jeff Guinn (Founders #190) — Another parallel to Jobs: Land's control over his company was nearly absolute, and he exercised it to a degree that was compelling and sometimes exhausting.— When you read a biography of Edwin land you see an incredibly smart, gifted, driven, focused person endure decade after decade of struggle. And more importantly —finally work his way through.— Another parallel to Jobs: You may be noticing that none of this has anything to do with instant photography. Polarizers rather than pictures would define the first two decades of lands intellectual life and would establish his company. Instant photos were an idea that came later on, a secondary business around which his company was completely recreated.— “Missionaries make better products.” —Jeff Bezos— His letter to shareholders gradually became a particularly dramatic showcase for his language and his thinking. These letters-really more like personal mission statements-are thoughtful and compact, and just eccentric enough to be completely engaging. Instead of discussing earnings and growth they laid out Land's World inviting everyone to join.— Land gave him a four-word job description: "Keeper of the language.”— No argument in the world can ever compare with one dramatic demonstration. — My Life in Advertising by Claude Hopkins (Founders #170)— The leap to Polaroid was like replacing a messenger on horseback with your first telephone.— Hire a paid critic:Norio Ohga, who had been a vocal arts student at the Tokyo University of Arts when he saw our first audio tape recorder back in 1950. I had had my eye on him for all those years because of his bold criticism of our first machine.He was a great champion of the tape recorder, but he was severe with us because he didn't think our early machine was good enough. It had too much wow and flutter, he said. He was right, of course; our first machine was rather primitive. We invited him to be a paid critic even while he was still in school. His ideas were very challenging. He said then, "A ballet dancer needs a mirror to perfect her style, her technique.— Made in Japan: Akio Morita and Sony by Akio Morita.— Another parallel to Jobs: Don't kid yourself. Polaroid is a one man company.— He argued there was no reason that well-designed, wellmade computers couldn't command the same market share and margins as a luxury automobile.A BMW might get you to where you are going in the same way as a Chevy that costs half the price, but there will always be those who will pay for the better ride in the sexier car. Rather than competing with commodity PC makers like Dell, Compaq and Gateway, why not make only first-class products with high margins so that Apple could continue to develop even better first-class products?The company could make much bigger profits from selling a $3,000 machine rather than a $500 machine, even if they sold fewer of them.Why not, then, just concentrate on making the best $3,000 machines around? — Jony Ive: The Genius Behind Apple's Greatest Products by Leander Kahney.— How To Turn Down A Billion Dollars: The Snapchat Story by Billy Gallagher — Books on Enzo FerrariGo Like Hell: Ford, Ferrari, and Their Battle for Speed and Glory at Le Mans by A.J. Baime. (Founders #97) Enzo Ferrari: Power, Politics, and The Making of an Automotive Empire by Luca Dal Monte (Founders #98) Enzo Ferrari: The Man and The Machine by Brock Yates (Founders #220) — Soul in the game. Listen to how Edwin Land describes his product:We would not have known and have only just learned that a new kind of relationship between people in groups is brought into being by SX-70 when the members of a group are photographing and being photographed and sharing the photographs: it turns out that buried within us—there is latent interest in each other; there is tenderness, curiosity, excitement, affection, companionability and humor; it turns out, in this cold world where man grows distant from man,and even lovers can reach each other only briefly, that we have a yen for and a primordial competence for a quiet good-humored delight in each other:we have a prehistoric tribal competence for a non-physical, non-emotional, non-sexual satisfaction in being partners in the lonely exploration of a once empty planet.—  “Over the very long term, history shows that the chances of any business surviving in a manner agreeable to a company's owners are slim at best.” —Charlie Munger----“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. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast 

Founders ✓ Claim Key Takeaways  Some failure is inevitable; learn from it, do not beat yourself up over it, and keep moving forwardBusiness is not a battle to be waged; it is a puzzle to be solved True entrepreneurs never fail; sometimes the business venture doesn't work out for them, but they never fail Go to where it is less crowded; there is no substitute for limited competition Be someone that people make money with Have a long-term view and do not sacrifice your ability to do future deals by burning bridges to close the current one If you love what you do, then you will get really good at it and do it for a long time;money will come as a resultThe true test of an entrepreneur is someone who spends his life constantly testing his limits “Fear and courage are cousins – and very closely related.” – Sam Zell Read the full notes @ podcastnotes.orgWhat I learned from reading Money Talks, Bullsh*t Walks: Inside the Contrarian Mind of Billionaire Mogul Sam Zell by Ben Johnson.----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Founders Notes gives you the superpower to learn from history's greatest entrepreneurs on demand. You can search all my notes and highlights from every book I've ever read for the podcast. Get access to Founders Notes here. ----Join my free email newsletter to get my top 10 highlights from every book----Follow Founders Podcast on YouTube (Video coming soon!) ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

Write of Passage Podcast Key Takeaways Check out the episode pageRead the full notes @ podcastnotes.orgYou know him as the CEO of OpenAI — but did you know that Sam Altman is an avid writer?  As one of today's most successful entrepreneurs, Sam champions the tremendous value of writing: how it clarifies your thinking, expands your ideas, and levels-up your life in every sense, both personally and professionally. Plus, he has a love for the creative. (Have you ever met someone who can recite Percy Bysshe Shelley poems from memory? Well, Sam can.)  In this episode, we discuss how Sam uses ChatGPT in his daily life; how LLMs are changing the future of writing; what it means to be a novelist in the age of technology; and Sam's best-learned writing lessons from Paul Graham. If you want to learn how the king of ChatGPT writes, this episode is for you.  SPEAKER LINKS:  Website: https://openai.com/ Blog: https://blog.samaltman.com/ Twitter: https://twitter.com/sama WRITE OF PASSAGE:  Want to learn more about the final class for Write of Passage? Click here: https://writeofpassage.com/ PODCAST LINKS:  Website: https://writeofpassage.school/how-i-write/ YouTube: https://www.youtube.com/@DavidPerellChannel/videos Apple: https://podcasts.apple.com/us/podcast/how-i-write/id1700171470 Spotify: https://open.spotify.com/show/2DjMSboniFAeGA8v9NpoPv Learn more about your ad choices. Visit megaphone.fm/adchoices