Podcasts about wander the collected writings

"To read Jeff Bezos's shareholder letters is to get a crash course in running a high-growth internet business from someone who mastered it before any of the playbooks were written." That is the best description of Bezos's letters I have ever read. I just finished rereading these letters for the 4th or 5th time. With clear thinking and ferocious intelligence, Bezos provides a masterclass in building a customer-obsessed, enduring franchise. With relentless repetition Bezos teaches us about the importance of invention, risk-taking, wandering, differentiation, technology, judgement, high-standards, customer obsession, long-term orientation, and why value trumps everything. Read the letters on Amazon's website here.Or in the book Invent and Wander: The Collected Writings of Jeff BezosRegister for the live event in New York at Ramp! 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 time and money.Join my free email newsletter to get my top 10 highlights from every book( 15:00 ) Setting the bar high in our approach to hiring has been, and will continue to be, the single most important element of Amazon success. It's not easy to work here but we are working to build something important, something that matters to our customers, something that we can all tell our grandchildren about. Such things aren't meant to be easy.( 24:00 ) We believe we have reached a "tipping point," where this platform allows us to launch new ecommerce businesses faster, with a higher quality of customer experience, a lower incremental cost, a higher chance of success, and a faster path to scale and profitability than any other company.( 27:00 ) We will continue to invest heavily in introductions to new customers. Though it's sometimes hard to imagine with all that has happened in the last five years, this remains Day 1 for ecommerce, and these are the early days of category formation where many customers are forming relationships for the first time. We must work hard to grow the number of customers who shop with us.( 37:00 ) Focus on cost improvement makes it possible for us to afford to lower prices, which drives growth. Growth spreads fixed costs across more sales, reducing cost per unit, which makes possible more price reductions. Customers like this, and it's good for shareholders. Please expect us to repeat this loop.( 47:00 ) Our quantitative understanding of elasticity is short-term. We can estimate what a price reduction will do this week and this quarter. But we cannot numerically estimate the effect that consistently lowering prices will have on our business over five years or ten years or more. Our judgment is that relentlessly returning efficiency improvements and scale economies to customers in the form of lower prices creates a virtuous cycle that leads over the long term to a much larger dollar amount of free cash flow, and thereby to a much more valuable Amazon.( 55:00 ) Our fundamental approach remains the same. Stay heads down, focused on the long term and obsessed over customers. Long-term thinking levers our existing abilities and lets us do new things we couldn't otherwise contemplate. Seek instant gratification and chances are you'll find a crowd there ahead of you. ( 56:00 ) Long-term orientation interacts well with customer obsession. If we can identify a customer need and if we can further develop conviction that that need is meaningful and durable, our approach permits us to work patiently for multiple years to deliver a solution.( 59:00 ) Invention is in our DNA and technology is the fundamental tool we wield to evolve and improve every aspect of the experience we provide our customers.( 1:00:00 ) A dreamy business offering has at least four characteristics. Customers love it, it can grow to very large size, it has strong returns on capital, and it's durable in time-with the potential to endure for decades. When you find one of these get married.( 1:02:00 ) We all know that if you swing for the fences, you're going to strike out a lot, but you're also going to hit some home runs. The difference between baseball and business, however, is that baseball has a truncated outcome distribution. When you swing, no matter how well you connect with the ball, the most runs you can get is four. In business, every once in a while, when you step up to the plate, you can score one thousand runs. This long-tailed distribution of returns is why it's important to be bold. Big winners pay for so many experiments.( 1:10:00) When a memo isn't great, it's not the writer's inability to recognize the high standard, but instead a wrong expectation on scope: they mistakenly believe a high standards, six-page memo can be written in one or two days or even a few hours, when really it might take a week or more! They're trying to perfect a handstand in just two weeks, and we're not coaching them right. The great memos are written and re-written, shared with colleagues who are asked to improve the work, set aside for a couple of days, and then edited again with a fresh mind. They simply can't be done in a day or two. The key point here is that you can improve results through the simple act of teaching scope-that a great memo probably should take a week or more.( 1:12:00 ) Sometimes (often actually) in business, you do know where you're going, and when you do, you can be efficient. Put in place a plan and execute. In contrast, wandering in business is not efficient-but it's also not random. It's guided-by hunch, gut, intuition, curiosity, and powered by a deep conviction that the prize for customers is big enough that it's worth being a little messy and tangential to find our way there. Wandering is an essential counterbalance to efficiency. You need to employ both. The outsized discoveries-the "nonlinear" ones-are highly likely to require wandering. ----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

On today's episode, Kyle Grieve explores the DNA of Amazon by tracing Jeff Bezos's early influences, strategic decisions, and relentless focus on customer experience, revealing how a bold vision and founder-led culture built one of the most dominant businesses in history. IN THIS EPISODE YOU'LL LEARN: 00:00 - Intro 02:12 - How Bezos's childhood brilliance helped forged Amazon's DNA. 03:22 - Why self-reliance helped Bezos repeatedly invent out of failure. 06:02 - How DE Shaw inspired Amazon's hiring bar and secretive innovations. 14:18 - Why founder-led companies tripled returns vs peers from 1990–2014. 17:07 - How Amazon used user reviews to build trust and boost Amazon's moat. 24:20 - How one-click ordering deepened customer loyalty and competitive defensibility. 41:05 - The importance of Amazon Prime and how it affected customer churn and loyalty. 51:51 - How AWS was born. 54:27 - How Amazon has used its scale and competitive positioning to acquire competitors. And so much more! Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more here. Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Read The Everything Store: Jeff Bezos and the Age of Amazon here. Read Invent and Wander: The Collected Writings of Jeff Bezos here. Read Delivering Happiness: A Path to Profits, Passion, and Purpose here. Follow Kyle on X and LinkedIn. Check out all the books mentioned and discussed in our podcast episodes here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter. Check out our We Study Billionaires Starter Packs. Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: SimpleMining Hardblock Found AnchorWatch Fundrise DeleteMe CFI Education The Bitcoin Way Vanta Shopify Indeed Onramp HELP US OUT! Help us reach new listeners by leaving us a rating and review on Spotify! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Drew Houston is the co-founder and CEO of Dropbox. Under his leadership, Dropbox has grown from a simple idea to a service used by over 700 million registered users globally, with a valuation exceeding $9 billion. Drew has led Dropbox through multiple phases, from explosive viral growth, to battling all the tech giants at once, to reinventing the company for the future of work. In our conversation, he opens up about:• The three eras of Dropbox's growth and evolution• The challenges he's faced over the past 18 years• What he learned about himself• How he's been able to manage his psychology as a founder• The importance of maintaining your learning curve• Finding purpose beyond metrics and growth• The micro, macro, and meta aspects of building companies• Much more—Brought to you by:• Paragon—Ship every SaaS integration your customers want• Explo—Embed customer-facing analytics in your product• Vanta—Automate compliance. Simplify security—Find the transcript at: https://www.lennysnewsletter.com/p/behind-the-founder-drew-houston-dropbox—Where to find Drew Houston:• X: https://x.com/drewhouston• LinkedIn: https://www.linkedin.com/in/drewhouston/—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) Introduction to Drew and Dropbox(04:44) The three eras of Dropbox(07:53) The first era: Viral growth and early success(14:19) The second era: Challenges and competition(20:49) Strategic shifts and refocusing(29:36) Personal reflections and leadership lessons(40:19) Unlocking mindfulness and building support systems(43:14) The Enneagram test(50:35) The challenges of being a founder CEO(58:11) The third era: Rebooting the team and core business(01:22:41) Lessons and advice for aspiring founders(01:27:46) Balancing personal and professional growth(01:42:38) Final reflections and future outlook—Referenced:• Dropbox: https://www.dropbox.com/• Y Combinator: https://www.ycombinator.com/• Paul Graham's website: https://www.paulgraham.com/• Hacker News: https://news.ycombinator.com/• Arash Ferdowsi on LinkedIn: https://www.linkedin.com/in/arashferdowsi/• Sequoia Capital: https://www.sequoiacap.com/• Pejman Nozad on LinkedIn: https://www.linkedin.com/in/pejman/• Mike Moritz on LinkedIn: https://www.linkedin.com/in/michaelmoritz/• TechCrunch Disrupt: https://techcrunch.com/events/tc-disrupt-2024/• Dropbox viral demo: https://youtu.be/7QmCUDHpNzE• Digg: https://digg.com/• Reddit: https://www.reddit.com/• Hadi and Ali Partovi: https://www.partovi.org/• Zynga: https://www.zynga.com/• Steve Jobs announces Apple's iCloud: https://www.youtube.com/watch?v=ilnfUa_-Rbc• Dropbox Carousel: https://en.wikipedia.org/wiki/Dropbox_Carousel• Dropbox Is Buying Mega-Hyped Email Startup Mailbox: https://www.businessinsider.com/dropbox-is-buying-mega-hyped-email-startup-mailbox-2013-3• 5 essential questions to craft a winning strategy | Roger Martin (author, advisor, speaker): https://www.lennysnewsletter.com/p/the-ultimate-guide-to-strategy-roger-martin• Intel: https://www.intel.com/• Gordon Moore: https://en.wikipedia.org/wiki/Gordon_Moore• Netscape: https://en.wikipedia.org/wiki/Netscape• Myspace: https://en.wikipedia.org/wiki/Myspace• Bill Campbell: https://en.wikipedia.org/wiki/Bill_Campbell_(business_executive)• Enneagram type descriptions: https://www.enneagraminstitute.com/type-descriptions/• The Myers-Briggs Type Indicator: https://www.themyersbriggs.com/en-US/Products-and-Services/Myers-Briggs• Brian Chesky's new playbook: https://www.lennysnewsletter.com/p/brian-cheskys-contrarian-approach• Ben Horowitz on X: https://x.com/bhorowitz• Why Read Peter Drucker?: https://hbr.org/2009/11/why-read-peter-drucker• GitLab: https://about.gitlab.com/• Automattic: https://automattic.com/• Dropbox Dash: https://www.dash.dropbox.com/• Welcome Command E to Dropbox: https://blog.dropbox.com/topics/company/welcome-command-e-to-dropbox-• StarCraft: https://en.wikipedia.org/wiki/StarCraft_(video_game)• Procter & Gamble and the Beauty of Small Wins: https://hbr.org/2009/10/the-beauty-of-small-wins• Teaching Smart People How to Learn: https://hbr.org/1991/05/teaching-smart-people-how-to-learn—Recommended books:• Guerrilla Marketing: Easy and Inexpensive Strategies for Making Big Profits from Your Small Business: https://www.amazon.com/Guerilla-Marketing-Inexpensive-Strategies-Business/dp/0618785914• Playing to Win: How Strategy Really Works: https://www.amazon.com/Playing-Win-Strategy-Really-Works/dp/142218739X• High Output Management: https://www.amazon.com/High-Output-Management-Andrew-Grove/dp/0679762884/• Only the Paranoid Survive: How to Exploit the Crisis Points That Challenge Every Company: https://www.amazon.com/Only-Paranoid-Survive-Exploit-Challenge/dp/0385483821• Zone to Win: Organizing to Compete in an Age of Disruption: https://www.amazon.com/Zone-Win-Organizing-Compete-Disruption/dp/1682302113• Warren Buffett's books: https://www.amazon.com/warren-buffett-Books/s?k=warren+buffett&rh=n%3A283155• Poor Charlie's Almanack: The Essential Wit and Wisdom of Charles T. Munger: https://www.amazon.com/Poor-Charlies-Almanack-Essential-Charles/dp/1953953239• Invent and Wander: The Collected Writings of Jeff Bezos: https://www.amazon.com/Invent-Wander-Collected-Writings-Introduction/dp/1647820715/• The 15 Commitments of Conscious Leadership: A New Paradigm for Sustainable: https://www.amazon.com/15-Commitments-Conscious-Leadership-Sustainable-ebook/dp/B00R3MHWUE—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

What I learned from rereading Random Reminiscences of Men and Events by John D. Rockefeller. ----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!) ----Notes and highlights from the episode: It has not been my custom to press my affairs forward into public gaze. (Bad boys move in silence)My favorite biography on Rockefeller John D: The Founding Father of the Rockefellers by David Freeman Hawke. (Founders #254)Secrecy covered all of his operations.Taking for granted the growth of his empire, he hired talented people as found, not as needed. — Titan: The Life of John D. Rockefeller by Ron Chernow. (Founders #248) We had been frank and aboveboard with each other. Without this, business associates cannot get the best out of their work.Rockefeller said Jay Gould was the best businessman he knew. Jay Gould books and episodes: American Rascal: How Jay Gould Built Wall Street's Biggest Fortune by Greg Steinmetz (Founders #285) and Dark Genius of Wall Street: The Misunderstood Life of Jay Gould, King of the Robber Barons by Edward J. Renehan Jr. (Founders #258) "If I have to choose between agreement and conflict, I'll take conflict every time. It always yields a better result." — Jeff BezosIt's a pity to get a man into a place in an argument where he is defending a position instead of considering the evidence. His calm judgment is apt to leave him, and his mind is for the time being closed, and only obstinacy remainsI like doing deals with the same people. You get to know each other and build a mutual sense of trust. Today, a lot of what I do originates from associations that go back ten, twenty, thirty, even forty years. — Am I Being Too Subtle?: Straight Talk From a Business Rebel by Sam Zell.Writing a check separates conviction from conversation. — Warren BuffettWe had with us a group of courageous men who recognized the great principle that a business cannot be a great success that does not fully and efficiently accept and take advantage of its opportunities. (Do everything and you will win)Such was Rockefeller's ingenuity, his ceaseless search for even minor improvements. Despite the unceasing vicissitudes of the oil industry, prone to cataclysmic booms and busts, he would never experience a single year of loss. — Titan: The Life of John D. Rockefeller by Ron Chernow. (Founders #248)Last Train to Paradise: Henry Flagler and the Spectacular Rise and Fall of the Railroad that Crossed an Ocean by Les Standiford. #247 Henry Flagler (Rockefeller's Partner)Rockefeller on the impact Henry Flagler had on the beginning of Standard Oil: He always believed that if we went into the oil business at all, we should do the work as well as we knew how; that we should have the very best facilities; that everything should be solid and substantial; and that nothing should be left undone to produce the finest results. And he followed his convictions of building as though the trade was going to last, and his courage in acting up to his beliefs laid strong foundations for later years. (Build a first class business in a first class way)Young people should realize how, above all other possessions, is the value of a friend in every department of life without any exception whatsoever.When you recruit A players you don't tell them here's 5 things I want you to focus on. Here's your top 10 priorities. NO. You've got one priority. Destroy that priority. Do it more than anybody else possibly will. (Henry Flagler's main priority was controlling the cost of transportation.)Larry Ellison: You don't want turnover on your core product team. Knowledge compounds. Don't interrupt the compounding. — Softwar: An Intimate Portrait of Larry Ellison and Oracle by Matthew Symonds. (Founders #124) We were accustomed to prepare for financial emergencies long before we needed the funds. (Keep a fortress of cash)It is impossible to comprehend Rockefeller's breathtaking ascent without realizing that he always moved into battle backed by abundant cash. Whether riding out downturns or coasting on booms, he kept plentiful reserves and won many bidding contests simply because his war chest was deeper. — Titan: The Life of John D. Rockefeller by Ron Chernow. (Founders #248)I learned to have great respect for figures and facts, no matter how small they were.This casual way of conducting affairs did not appeal to me.As our successes began to come, I seldom put my head upon the pillow at night without speaking a few words to myself: "Now a little success, soon you'll fall down, soon you'll be overthrown. Because you've got a start, you think you're quite a merchant; look out, or you will lose your head—go steady." These intimate conversations with myself had a great influence on my life. I was afraid I couldn't stand my prosperity, and tried to teach myself not to get puffed up with any foolish notions. (If you go to sleep on a win you'll wake up with a loss)I hope they were properly humiliated to see how far we had gone beyond their expectations. (Chips on shoulders put chips in pockets) 98 percent of our attention was devoted to the task at hand. We are believers in Carlyle's Prescription, that the job a man is to do is the job at hand and not see what lies dimly in the distance. — Charlie Munger in Buffett: The Making of an American Capitalist by Roger Lowenstein. (Founders #182) Rockefeller on Standard Oil stock: Sell everything you've got, even the shirt on your back, but hold on to the stock.All business proceeds on belief: Trying to run a company without a set of beliefs is like trying to steer a ship without a rudder. — Four Seasons: The Story of a Business Philosophy by Isadore Sharp (Founders #184)  Rockefeller on his “unintelligent competition”: We had the type of man who really never knew all the facts about his own affairs. Many kept their books in such a way that they did not actually know when they were making money or when they were losing money.A few weeks later, the newspapers announce his new partnership—revealing who had backed his bid—and the news that Rockefeller is, at twenty-five, an owner of one of the largest refineries in the world. On that day his partners “woke up and saw for the first time that my mind had not been idle while they were talking so big and loud,” he would say later. They were shocked. They'd seen their empire dismantled and taken from them by the young man they had dismissed. Rockefeller had wanted it more.  — Conspiracy by Ryan Holiday At best it was a speculative trade, and I wonder that we managed to pull through so often; but we were gradually learning how to conduct a most difficult business.A blueprint for success in any endeavor: Low prices to the customer. Root out any inefficiency. Pay for talent. Control expenses. Invest in technology.We devoted ourselves exclusively to the oil business and its products. The company never went into outside ventures, but kept to the enormous task of perfecting its own organizationThe fastest way to move a dial is narrow the focus. People naturally resist focus because they can't decide what is important. Therein lies a problem: people can typically tell you after some deliberation what their top three priorities are, but they struggle to decide on just one. What is too much and what is too little focus? Do you ever even discuss this? Most teams are not focused enough. I rarely encountered a team that employed too narrow an aperture. It goes against our human grain. People like to boil oceans. Just knowing that can be to your advantage. When you narrow focus, you are increasing the resourcing on the remaining priority. —  Amp It Up by Frank Slootman Two people can run the same business and have vastly different results: Perhaps it is worth while to emphasize again the fact that it is not merely capital and "plants" and the strictly material things which make up a business, but the character of the men behind these things, their personalities, and their abilities; these are the essentials to be reckoned with. When it comes to competition, being one of the best is not good enough. Do you really want to plan for a future in which you might have to fight with somebody who is just as good as you are? I wouldn't. — Jeff Bezos in Invent and Wander: The Collected Writings of Jeff BezosDon't even think of temporary or sharp advantages. Don't waste your effort on a thing which ends in a petty triumph unless you are satisfied with a life of petty success.Study diligently your capital requirements, and fortify yourself fully to cover possible set-backs, because you can absolutely count on meeting setbacks.Do not to lose your head over a little success, or grow impatient or discouraged by a little failure.Know your numbers. You need to know your business down to the ground.Money comes naturally as a result of service (Henry Ford)Don't do anything that someone else can do (Edwin Land)The man will be most successful who confers the greatest service on the world.Commercial enterprises that are needed by the public will pay. Commercial enterprises that are not needed fail, and ought to fail.Dedicate your life to building something that contributes to the progress and happiness of mankind.----“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

This week I'm hanging out with Network Marketing Leader Courtney Shepard and discussing her upbringing, her relationship with her best friend and mentor Jessie Lee Ward, haters, social media and AI for Network Marketing, global expansion and what's next for her. 01:31:00   Show Notes: 01:39 -  Eric Welcomes Courtney Shepard to The Excellence Project and asks her to share how things are going in her business. 05:44 - Courtney recounts her upbringing in a small town and how her mother and grandmother influenced her. 12:18 - Courtney explains why she dropped out of college, and that her first exposure to Network Marketing was at age 18. 14:44 - Courtney made a lot of bad decisions because she was bored living in her hometown. 17:29 - Courtney's second exposure to Network Marketing in 2014 led her to meeting legend Jessie Lee Ward. 22:13 - Eric shares the story about something that happened the day Jessie Lee passed away. 24:51 - Courtney shares all of the different ways that Jessie Lee influenced her. 31:46 - Courtney details exactly how to utilize social media to grow a Network Marketing business and what's working best right now. 42:17 - Courtney reveals how many exposures it takes for someone to buy something and why she leads with the opportunity. 52:31 - Eric asks Courtney to rank the different social media platforms according to what's converting best right now.  56:09 - Courtney explains how posting in different languages and using AI tools can lead to growth in a Network Marketing business. 01:02:11 - Eric and Courtney discuss why adapting to technology is vital to the survival of entrepreneurs and businesses and what happens when people play small. 01:15:52 -  Courtney reveals what's next for her after losing her best friend Jessie Lee and explains why Jessie Lee had such a far-reaching impact. 01:27:25 -  Eric reminds Courtney that she can honor Jessie Lee without losing herself.   Resources From This Podcast:  Nowsite https://now.site/  Invent and Wander: The Collected Writings of Jeff Bezos https://www.amazon.com/Invent-Wander-Collected-Writings-Introduction-ebook/dp/B08BCCT6MW   Your Next Steps:   Purchase tickets for Go Pro Xperience 2024: https://nmpro.link/gpx24-pc   Get more likes and comments with engaging, unique posts written by AI in one click & access the AI version of the #1 Network Marketing expert, Eric Worre: https://nmpro.link/nmproai-pc   Visit Go Pro Academy for the best online Network Marketing courses: goproacademy.com/gpa2024   Go Pro: 7 Steps to Becoming a Network Marketing Professional - Purchase Eric's Book: https://nmpro.link/goprobook-pc   Hire Eric, the #1 Network Marketing Expert, to inspire and train your team! https://nmpro.link/hireeric-pc   For the latest (Free!) Network Marketing tips, tactics and strategies visit: https://nmpro.link/yt-subscribe   Questions or Comments?  Do you have questions you would like me to answer in future podcasts or comments on the show you'd like to share?  Email me at podcast@networkmarketingpro.com  

Peter Esho and co-host Dr. George Marano, founder of RGB Consulting, delve into the world of Jeff Bezos through the lens of his book, "Invent and Wander: The Collected Writings of Jeff Bezos." In this episode, we explore the key business principles that have shaped Bezos's success and how these can be applied in the dynamic Australian business environment, particularly for leaders of medium-sized enterprises. We break down five fundamental concepts from Bezos's writings: Customer Obsession, Long-Term Thinking, Willingness to Invent and Pioneer, Operational Excellence, and the Power of Regret Minimization. These principles are not just theoretical; we discuss practical applications and share relevant case studies, making them accessible and actionable for today's business leaders. Whether you're looking to scale up your business or expand your personal network, this episode is packed with valuable insights. Don't miss this opportunity to gain a deeper understanding of how these strategies can be tailored to the Australian market. Our interactive discussion, along with Dr. Marano's expert insights, offers a unique perspective that is both inspiring and practical. Tune in to enhance your leadership skills and take your business acumen to the next level! #businessleadership #jeffbezos #goodreads Subscriber to Peter's Newsletter https://peteresho.com Peter on Tiktok https://tiktok.com/@mrpeteresho Peter on LinkedIn https://linkedin.com/in/peteresho/ Connect with Dr George LinkedIn https://www.linkedin.com/in/sgeorgemarano/ Website https://www.rbvcg.com/

Jason and Karan talk about what they learned from the book Invent and Wander. The guys talk Amazon stock, Jeff Bezos, the growth of AWS and cloud, and much more. Thanks for listening!Invent and Wander: The Collected Writings of Jeff Bezos, With an Introduction by Walter Isaacson - https://www.amazon.com/Invent-Wander-Collected-Writings-Introduction/dp/1647820715/Karan - https://twitter.com/KaranMGurnaniJason - https://twitter.com/afterinvestorUranium Spotlight: Nuclear's Resurgence in a Clean Energy WorldThe latest uranium market news and events and its critical role in the energy landscapeListen on: Apple Podcasts Spotify All Business. No Boundaries.Welcome to All Business. No Boundaries, a collection of supply chain stories by DHL...Listen on: Apple Podcasts Spotify

What I learned from rereading Creativity, Inc.: Overcoming the Unseen Forces That Stand in the Way of True Inspiration by Ed Catmull. ---I use EightSleep to get the best sleep of my life. Find out why EightSleep is loved by founders everywhere and get $150 off at eightsleep.com/founders/---I'm doing a live show with Patrick OShaughnessy (Invest Like the Best) on October 19th in New York City. Get your tickets here!---Join Founders AMAMembers of Founders AMA can:-Email me your questions directly (you get a private email address in the confirmation email) -Promote your company to other members by including a link to your website with you question -Unlock 36 Ask Me Anything (AMA) episodes immediately-Listen to new Ask Me Anything (AMA) episodes every week ---Join my free email newsletter to get my top 10 highlights from every book---(7:00) Walt Disney created a made-up world, used cutting-edge technology to enable it, and then told us how he'd done it.(7:30) Einstein: His Life and Universe by Walter Isaacson. (Founders #187)(7:30) Both Einstein and Disney inspired me, but Disney affected me more because of his weekly visits to my family's living room.(7:45) Every time some technological breakthrough occurred, Walt Disney incorporated it.(9:30) His dad was the son of an Idaho dirt farmer. His dad was one of 14 kids. 5 of his dad's siblings died as infants. His dad was the first person in his family ever to go to college. He had to work while he was going to college and pay his own way. His dad built the family house with his own hands.(10:30) When you read biographies of people who've done great work, it's remarkable how much luck is involved. They discover what to work on as a result of a chance meeting, or by reading a book they happen to pick up. So you need to make yourself a big target for luck, and the way to do that is to be curious. Try lots of things, meet lots of people, read lots of books, ask lots of questions. — How To Do Great Work by Paul Graham. (Founders #314)(12:30) The New New Thing: A Silicon Valley Story by Michael Lewis (Founders #274)(14:00) George Lucas: A Life by Brian Jay Jones (Founders #35)(15:00) We [Ed Catmull and George Lucas] worked with a blinders on intensity. George had relentless practicality. He wasn't some hobbyist trying to bring technology into filmmaking for the heck of it. His interest in computers began and ended with their potential to add value to his filmmaking process.(19:00) George Lucas believed in the future and his ability to shape it.(20:30) The storyteller is the most powerful person in the world. — Steve Jobs(20:30) The art of storytelling is critically important. Most of the entrepreneurs who come talk to us can't tell a story. Learning to tell a story is incredibly important because that's how the money works. The money flows as a function of the stories — Don Valentine(22:30) Steve used the phrase insanely great products to explain what he believed in.(26:30) This guy told me that the way to establish his authority in the room was to arrive last. His thinking was this would establish him as the most powerful player in the room since he could afford to keep everyone else waiting. All it ended up establishing was that he had never met anyone like Steve jobs.(38:30) If you give a good idea to a mediocre team, they will screw it up. If you give a mediocre idea to a brilliant team, they will either fix it or throw it away and come up with something better.(42:00) Everything associated with our name needed to be good. Quality is the best business plan.(42:30) Steve understood that every interaction a customer had with Apple could increase or decrease his or her respect for the company. As he put it, a corporation "could accumulate or withdraw credits" from its reputation, which is why he worked so hard to ensure that every single interaction a customer might have with Apple-from using a Mac to calling customer support to buying a single from the iTunes store and then getting billed for it-was excellent. — Becoming Steve Jobs: The Evolution of a Reckless Upstart into a Visionary Leader by Brent Schlender and Rick Tetzeli (Founders #265)(48:30) Invent and Wander: The Collected Writings of Jeff Bezos (Founders #282)(52:30) People discover and realize their visions over time and through dedicated, protracted struggle.(53:30) If you're sailing across the ocean and your goal is to avoid weather and waves, then why the hell are you sailing? You have to embrace that sailing means that you can't control the elements and that there will be good days and bad days and that, whatever comes, you will deal with it because your goal is to eventually get to the other side. You will not be able to control exactly how you get across. That's the game you've decided to be in. If your goal is to make it easier and simpler, then don't get in the boat.(59:00) It is difficult to understand people who deviate so radically from the norm like Steve did.----Join Founders AMAMembers of Founders AMA can:-Email me your questions directly (you get a private email address in the confirmation email) -Promote your company to other members by including a link to your website with you question -Unlock 36 Ask Me Anything (AMA) episodes immediately-Listen to new Ask Me Anything (AMA) episodes every week ----“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

O que aprender, quando o leme do barco corporativo depende de você? Quem lidera precisa tocar o presente e pensar o futuro em um mundo de incertezas e mudanças rápidas na tecnologia, economia e geopolítica. Gestão aberta para a diversidade cultural importa muito, explicam Pedro Vergueiro, Gerente de Educação Executiva na FDC e Carlos Arruda, professor de Inovação e Competitividade e Gerente Executivo do Núcleo de Inovação e Empreendedorismo da FDC.Links do episódioO site do curso PGA | Programa de Gestão Avançada da FDCO livro “The Culture Map”, por Erin MeyerO livro “Invent and Wander: The Collected Writings of Jeff Bezos”, por Jeff BezosO livro “O jogo infinito”, por Simon Sinek  Turismo cultural: o hospital viticultor Hospices de Beaune_____FALE CONOSCOEmail: news@theshift.info_____ASSINE A THE SHIFTwww.theshift.info

What I learned from reading Make Something Wonderful: Steve Jobs in his own words.This episode is brought to you by Tiny: Tiny is the easiest way to sell your business. Tiny provides quick and straightforward exits for Founders.  ----This episode is brought to you by Meter: Meter is the easiest way for your business to get fast, secure, and reliable internet and WiFi in any commercial space. Go to meter.com/founders ----Follow one of my favorite podcasts Invest Like The Best and listen to episode 293 David Senra: Passion and Pain ----[3:48] He gave an extraordinary amount of thought to how best to use our fleeting time.[4:24] He imagined what reality lacked and set out to remedy it.[7:27] Steve Jobs: The Lost Interview Video and My Notes.[10:02] Edwin Land episodes:Instant: The Story of Polaroid by Christopher Bonanos. (Founders #264)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 Experienceby Mark Olshaker (Founders #132)Insisting On The Impossible: The Life of Edwin Land and Instant: The Story of Polaroid(Founders #40)[13:23] Think of your life as a rainbow arcing across the horizon of this world. You appear, have a chance to blaze in the sky, then you disappear.[14:10] One from Many: VISA and the Rise of Chaordic Organization by Dee Hock. (Founders #260)[15:42] Read Jeff Bezos's shareholder letters in book form: Invent and Wander: The Collected Writings of Jeff Bezos or for free online: Amazon Investor Relations(Founders #282)[19:45] If you want to understand the entrepreneur, study the juvenile delinquent. — Let My People Go Surfing: The Education of a Reluctant Businessman by Yvon Chouinard. (Founders #297)[30:47] How important product is based on how much time you spend with it: People are going to be spending two, three hours a day interacting with these machines—longer than they spend in the car.[39:02] Return to the Little Kingdom: Steve Jobs and the Creation of Appleby Michael Moritz. (Founders #76)[40:32] The real big thing is: if you're going to make something, it doesn't take any more energy—and rarely does it take more money—to make it really great. All it takes is a little more time. And a willingness to do so, a willingness to persevere until it's really great.[45:07] Creativity, Inc.: Overcoming the Unseen Forces That Stand in the Way of True Inspiration by Ed Catmull [45:31] Steve's enthusiasm kept him writing check after check to Pixar, ultimately investing some $60 million.[47:47] It is better to have fewer people even if it means doing less. Let's build our company slowly and carefully.[53:36] I'm not so dominant that I can't listen to creative ideas coming from other people. Successful people listen. Those who don't listen, don't survive long. — Driven From Within by Michael Jordan (Founders #213)[54:40] You never achieve what you want without falling on your face a few times in the process of getting there.[1:00:11] There wasn't a hierarchy of ideas that mapped onto the hierarchy of the organization.[1:03:33] Don't be a career. The enemy of most dreams and intuitions, and one of the most dangerous and stifling concepts ever invented by humans, is the “Career.” A career is a concept for how one is supposed to progress through stages during the training for and practicing of your working life. There are some big problems here. First and foremost is the notion that your work is different and separate from the rest of your life. If you are passionate about your life and your work, this can't be so. They will become more or less one. This is a much better way to live one's life.[1:05:11] Make your avocation your vocation. Make what you love your work.[1:05:58] Think of your life as a rainbow arcing across the horizon of this world. You appear, have a chance to blaze in the sky, then you disappear.[1:09:27] In the Company of Giants: Candid Conversations With the Visionaries of the Digital World by Rama Dev Jager and Rafael Ortiz. (Founders #208)[1:10:52] Much of it is also drive and passion—hard work makes up for a lot.[1:13:28] A risk-taking creative environment on the product side required a fiscally conservative environment on the business side.[1:13:57] You've got to choose what you put your love into really carefully.[1:14:38] A remarkably consistent set of values that Steve held dear: Life is short; don't waste it. Tell the truth. Technology should enhance human creativity. Process matters. Beauty matters. Details matter. The world we know is a human creation—and we can push it forward.[1:19:24] Steve Jobs speaking to Apple employees (Video) [1:29:48] Apple is the world's premier bridge builder between mere mortals and the exploding world of high technology.[1:30:14] Steve's favorite quote: We are what we repeatedly do. Excellence, then, is not an act, but a habit. – Aristotle[1:32:29] The Man Behind the Microchip: Robert Noyce and the Invention of Silicon Valley by Leslie Berlin. (Founders #166)[1:42:27] That's been the most important lesson I've learned in business: that the dynamic range of people dramatically exceeds things you encounter in the rest of our normal lives—and to try to find those really great people who really love what they do. [1:43:00] Jony Ive: The Genius Behind Apple's Greatest Productsby Leander Kahney. (Founders #178)[1:47:27] It's a circus world, and you never know what's around the next corner.[1:53:40] Bourdain: The Definitive Oral Biography by Laurie Woolever. (Founders #219)[2:01:00] All glory is fleeting.----Subscribe to listen to Founders Premium — Subscribers can ask me questions directly and listen to Ask Me Anything (AMA) episodes.----Join my free email newsletter to get my top 10 highlights from every book----I use Readwise to organize and remember everything I read. You can try Readwise for 60 days for free 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

Podcast: Founders (LS 61 · TOP 0.1% what is this?)Episode: #286 Warren Buffett and Charlie MungerPub date: 2023-01-16What I learned from reading All I Want To Know Is Where I'm Going To Die So I'll Never Go There: Buffett & Munger – A Study in Simplicity and Uncommon, Common Sense by Peter Bevelin. ----Get access to the World's Most Valuable Notebook for Founders by investing in a subscription to Founders Notes----Follow one of my favorite podcasts Invest Like The Best and listen to episode Mitch Lasky—The Business of GamingFollow the podcast Gamecraft to learn more about the history of the video game industry. ----[2:01] Buffett and Munger have a remarkable ability to eliminate folly, simplify things, boil down issues to their essence, get right to the point, and focus on simple and timeless truths.[3:00] The Almanack of Naval Ravikant: A Guide to Wealth and Happiness by Naval Ravikant and Eric Jorgenson.  (Founders #191)[4:00] Warren Buffet or Charlie Munger are the very wise grandfather figure that I never had.[5:00] To try to live your life totally free of mistakes is a life of inaction. —Warren Buffett[5:00] The sign above the players' entrance to the field at Notre Dame reads ´Play Like a Champion Today.' I sometimes joke that the sign at Nebraska reads 'Remember Your Helmet.' Charlie and I are 'Remember Your Helmet' kind of guys.' We like to keep it simple. (You must structure your life and business to be able to survive the inevitable bad decisions you're going to make.)[5:00] Wisdom is prevention. —Charlie Munger[6:00] We make actual decisions very rapidly, but that's because we've spent so much time preparing ourselves by quietly sitting and reading and thinking. —Charlie Munger[7:00] If you get into the mental habit of relating what you're reading to the basic underlying ideas being demonstrated, you gradually accumulate some wisdom. —Charlie Munger[7:00] At Berkshire, we don't have any meetings or committees, and I can think of no better way to become more intelligent than sit down and read. I hate meetings, frankly. I have created something that I enjoy: I happen to enjoy reading a lot, and I happen to enjoy thinking about things. —Warren Buffett[7:00] We both hate to have too many forward commitments in our schedules. We both insist on a lot of time being available to just sit and think. —Charlie Munger[8:00] I need eight hours of sleep. I think better. I have more energy. My mood is better. And think about it: As a senior executive, what do you really get paid to do? You get paid to make a small number of high-quality decisions. — Invent and Wander: The Collected Writings of Jeff Bezos, With an Introduction by Walter Isaacson. (Founders #155)[9:00] I think people that multitask pay a huge price. When you multitask so much, you don't have time to think about anything deeply. You're giving the world an advantage you shouldn't do. Practically everybody is drifting into that mistake. I did not succeed in life by intelligence. I succeeded because I have a long attention span. —Charlie Munger[9:00] Jony Ive on Steve Jobs: Steve was the most remarkably focused person I've ever met. (Video)[11:00] It is just that simple. We've had enough good sense when something was working well, keep doing it. The fundamental algorithm of life: repeat what works. —Charlie Munger[13:00] ALL THE BUFFETT AND MUNGER EPISODES:Berkshire Hathaway Letters to Shareholders 1965-2018 by Warren Buffett. (Founders #88) The Snowball: Warren Buffett and the Business of Life by Alice Schroeder. (Founders #100)The Tao of Warren Buffett by Mary Buffett & David Clark. (Founders #101) Buffett: The Making of an American Capitalist by Roger Lowenstein. (Founders #182) A Few Lessons for Investors and Managers From Warren Buffett by Warren Buffett and Peter Bevelin. (Founders #202) The Essays of Warren Buffett by Warren Buffett and Lawrence Cunningham. (Founders #227)  Tao of Charlie Munger by David Clark (Founders #78) Charlie Munger: The Complete Investor by Tren Griffin. (Founders #79) Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger. (Founders #90) Damn Right: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger by Janet Lowe. (Founders #221) [14:00] Buffett: It's an inversion process. Start out with failure, and then engineer its removal.[15:00] Munger: I figure out what I don't like instead of figuring out what I like in order to get what I like.[15:00] Repetition is the mother of learning.[17:00] Munger: You can see the results of not learning from others' mistakes by simply looking about you. How little originality there is in the common disasters of mankind. (Business failures through repetition of obvious mistakes made by predecessors and so on.)[18:00] Munger: History allows you to keep things in perspective.[18:00] Everything that needs to be said has already been said. But since no one was listening, everything must be said again.[19:00] Berkshire was a small business at one time. It just takes time. It is the nature of compound interest. You cannot build it in one day or one week.[20:00] Pretend that every single person you meet has a sign around his or her neck that says, “Make me feel important.”[22:00] Buffett: In almost 60 years of investing we found it practically useless to give advice to anyone.[23:00] Munger: One of my favorite stories is about the little boy in Texas. The teacher asked the class, If there are nine sheep in the pen and one jumps out, how many are left? And everybody got the answer right except this little boy, who said, None of them are left. And the teacher said, You don't understand arithmetic. And he said No, teacher. You don't understand sheep.[25:00] Quite often Henry simply talked about his philosophy of running a corporation and the various financial strategies that he came up with as he sat in his corner office each day, often working at his Apple computer. He was a brilliant business strategist, just as he was a brilliant chess strategist and he came up with many creative ideas, ideas that were sometimes contrary to the currently accepted methods of managing a large corporation that prevailed in those days.“He always tries to work out the best moves," Shannon said, "and maybe he doesn't like to talk too much, because when you are playing a game you don't tell anyone else what your strategy is." — Distant Force: A Memoir of the Teledyne Corporation and the Man Who Created It by Dr. George Roberts. (Founders #110)[28:00] Buffett: The difference between successful people and very successful people is that very successful people say no to almost everything.[29:00] If you want to know whether you are destined to be a success or a failure in life, you can easily find out. The test is simple and it is infallible: Are you able to save money? If not, drop out. You will lose. You may think not, but you will lose as sure as you live. The seed of success is not in you. — James J. Hill: Empire Builder of the Northwest by Michael P. Malone. (Founders #96)[31:00] Buffett: Life tends to snap you at your weakest link.[35:00] Sol Price: Retail Revolutionary & Social Innovator by Robert E. Price (Founders #107)[38:00] Paul Graham's essays (Founders #275-277)[39:00] I'm very suspect of the person who is very good at one business, who starts thinking they should tell the world how to behave on everything. —Warren Buffett[42:00] The Essays of Warren Buffett by Warren Buffett and Lawrence Cunningham. (Founders #227)[44:00] This life isn't a greenroom for something else. He went for it. —Bourdain: The Definitive Oral Biography by Laurie Woolever.[44:00] Buffett: We're here on the earth only one time so you ought to be doing something that you enjoy as you go along and you can be enthusiastic about.[48:00] Personal History by Katherine Graham. (Founders #152)[49:00] The problem is not getting rich, it is staying sane. —Charlie Munger[54:00] Learning is not memorizing information. Learning is changing your behavior. Most people can't learn from the experiences of other people: Charlie and I don't expect to win you over to our way of thinking—we've observed enough human behavior to know the futility of that, but we do want you to be aware of our personal calculus.[57:00] We are individual opportunity driven. Our acquisition technique at Berkshire is simplicity itself: We answer the phone.[1:00:00] A brand is a promise. —Warren Buffett[1:01:00] Obsess over customers. Buffett said this about Amazon in 2012: Amazon could affect a lot of businesses who don't think they will be affected. For Amazon, it is very hard to find unhappy customers. A business that has millions and millions of happy customers can introduce them to new items, it will be a powerhouse and could affect a lot of businesses.[1:03:00] Munger: We should make a list of everything that irritates a customer, and then we should eliminate those defects one by one.[1:04:00] Most companies, when they get rich, get sloppy.[1:05:00] Munger: One of the models in my head is the 'Northern Pike Model. You have a lake full of trout. But if you throw in a few northern pike, pretty soon there aren't many trout left but a lot of northern pike. Wal-Mart in its early days was the northern pike. It figured out how the customer could be better served and just galloped through the world like Genghis Kahn.[1:09:00] Practice! Michael Jordan: The Life by Roland Lazenby. (Founders #212)[1:10:00] Market forecasters will fill your ear, but they will never fill your wallet.[1:11:00] We don't have any new tricks. We just know the old tricks better.----Get access to the World's Most Valuable Notebook for Founders by investing in a subscription to Founders Notes----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders PodcastThe podcast and artwork embedded on this page are from David Senra , which is the property of its owner and not affiliated with or endorsed by Listen Notes, Inc.

Podcast: Founders (LS 59 · TOP 0.5% what is this?)Episode: #286 Warren Buffett and Charlie MungerPub date: 2023-01-16What I learned from reading All I Want To Know Is Where I'm Going To Die So I'll Never Go There: Buffett & Munger – A Study in Simplicity and Uncommon, Common Sense by Peter Bevelin. ----Come see a live show with me and Patrick O'Shaughnessy from Invest Like The Best on October 19th in New York City. Get your tickets here! ----This episode is brought to you by: Tiny: Tiny is the easiest way to sell your business. Quick and straightforward exits for Founders.----Follow one of my favorite podcasts Invest Like The Best and listen to episode Mitch Lasky—The Business of GamingFollow the podcast Gamecraft to learn more about the history of the video game industry. ----[2:01] Buffett and Munger have a remarkable ability to eliminate folly, simplify things, boil down issues to their essence, get right to the point, and focus on simple and timeless truths.[3:00] The Almanack of Naval Ravikant: A Guide to Wealth and Happiness by Naval Ravikant and Eric Jorgenson.  (Founders #191)[4:00] Warren Buffet or Charlie Munger are the very wise grandfather figure that I never had.[5:00] To try to live your life totally free of mistakes is a life of inaction. —Warren Buffett[5:00] The sign above the players' entrance to the field at Notre Dame reads ´Play Like a Champion Today.' I sometimes joke that the sign at Nebraska reads 'Remember Your Helmet.' Charlie and I are 'Remember Your Helmet' kind of guys.' We like to keep it simple. (You must structure your life and business to be able to survive the inevitable bad decisions you're going to make.)[5:00] Wisdom is prevention. —Charlie Munger[6:00] We make actual decisions very rapidly, but that's because we've spent so much time preparing ourselves by quietly sitting and reading and thinking. —Charlie Munger[7:00] If you get into the mental habit of relating what you're reading to the basic underlying ideas being demonstrated, you gradually accumulate some wisdom. —Charlie Munger[7:00] At Berkshire, we don't have any meetings or committees, and I can think of no better way to become more intelligent than sit down and read. I hate meetings, frankly. I have created something that I enjoy: I happen to enjoy reading a lot, and I happen to enjoy thinking about things. —Warren Buffett[7:00] We both hate to have too many forward commitments in our schedules. We both insist on a lot of time being available to just sit and think. —Charlie Munger[8:00] I need eight hours of sleep. I think better. I have more energy. My mood is better. And think about it: As a senior executive, what do you really get paid to do? You get paid to make a small number of high-quality decisions. — Invent and Wander: The Collected Writings of Jeff Bezos, With an Introduction by Walter Isaacson. (Founders #155)[9:00] I think people that multitask pay a huge price. When you multitask so much, you don't have time to think about anything deeply. You're giving the world an advantage you shouldn't do. Practically everybody is drifting into that mistake. I did not succeed in life by intelligence. I succeeded because I have a long attention span. —Charlie Munger[9:00] Jony Ive on Steve Jobs: Steve was the most remarkably focused person I've ever met. (Video)[11:00] It is just that simple. We've had enough good sense when something was working well, keep doing it. The fundamental algorithm of life: repeat what works. —Charlie Munger[13:00] ALL THE BUFFETT AND MUNGER EPISODES:Berkshire Hathaway Letters to Shareholders 1965-2018 by Warren Buffett. (Founders #88) The Snowball: Warren Buffett and the Business of Life by Alice Schroeder. (Founders #100)The Tao of Warren Buffett by Mary Buffett & David Clark. (Founders #101) Buffett: The Making of an American Capitalist by Roger Lowenstein. (Founders #182) A Few Lessons for Investors and Managers From Warren Buffett by Warren Buffett and Peter Bevelin. (Founders #202) The Essays of Warren Buffett by Warren Buffett and Lawrence Cunningham. (Founders #227)  Tao of Charlie Munger by David Clark (Founders #78) Charlie Munger: The Complete Investor by Tren Griffin. (Founders #79) Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger. (Founders #90) Damn Right: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger by Janet Lowe. (Founders #221) [14:00] Buffett: It's an inversion process. Start out with failure, and then engineer its removal.[15:00] Munger: I figure out what I don't like instead of figuring out what I like in order to get what I like.[15:00] Repetition is the mother of learning.[17:00] Munger: You can see the results of not learning from others' mistakes by simply looking about you. How little originality there is in the common disasters of mankind. (Business failures through repetition of obvious mistakes made by predecessors and so on.)[18:00] Munger: History allows you to keep things in perspective.[18:00] Everything that needs to be said has already been said. But since no one was listening, everything must be said again.[19:00] Berkshire was a small business at one time. It just takes time. It is the nature of compound interest. You cannot build it in one day or one week.[20:00] Pretend that every single person you meet has a sign around his or her neck that says, “Make me feel important.”[22:00] Buffett: In almost 60 years of investing we found it practically useless to give advice to anyone.[23:00] Munger: One of my favorite stories is about the little boy in Texas. The teacher asked the class, If there are nine sheep in the pen and one jumps out, how many are left? And everybody got the answer right except this little boy, who said, None of them are left. And the teacher said, You don't understand arithmetic. And he said No, teacher. You don't understand sheep.[25:00] Quite often Henry simply talked about his philosophy of running a corporation and the various financial strategies that he came up with as he sat in his corner office each day, often working at his Apple computer. He was a brilliant business strategist, just as he was a brilliant chess strategist and he came up with many creative ideas, ideas that were sometimes contrary to the currently accepted methods of managing a large corporation that prevailed in those days.“He always tries to work out the best moves," Shannon said, "and maybe he doesn't like to talk too much, because when you are playing a game you don't tell anyone else what your strategy is." — Distant Force: A Memoir of the Teledyne Corporation and the Man Who Created It by Dr. George Roberts. (Founders #110)[28:00] Buffett: The difference between successful people and very successful people is that very successful people say no to almost everything.[29:00] If you want to know whether you are destined to be a success or a failure in life, you can easily find out. The test is simple and it is infallible: Are you able to save money? If not, drop out. You will lose. You may think not, but you will lose as sure as you live. The seed of success is not in you. — James J. Hill: Empire Builder of the Northwest by Michael P. Malone. (Founders #96)[31:00] Buffett: Life tends to snap you at your weakest link.[35:00] Sol Price: Retail Revolutionary & Social Innovator by Robert E. Price (Founders #107)[38:00] Paul Graham's essays (Founders #275-277)[39:00] I'm very suspect of the person who is very good at one business, who starts thinking they should tell the world how to behave on everything. —Warren Buffett[42:00] The Essays of Warren Buffett by Warren Buffett and Lawrence Cunningham. (Founders #227)[44:00] This life isn't a greenroom for something else. He went for it. —Bourdain: The Definitive Oral Biography by Laurie Woolever.[44:00] Buffett: We're here on the earth only one time so you ought to be doing something that you enjoy as you go along and you can be enthusiastic about.[48:00] Personal History by Katherine Graham. (Founders #152)[49:00] The problem is not getting rich, it is staying sane. —Charlie Munger[54:00] Learning is not memorizing information. Learning is changing your behavior. Most people can't learn from the experiences of other people: Charlie and I don't expect to win you over to our way of thinking—we've observed enough human behavior to know the futility of that, but we do want you to be aware of our personal calculus.[57:00] We are individual opportunity driven. Our acquisition technique at Berkshire is simplicity itself: We answer the phone.[1:00:00] A brand is a promise. —Warren Buffett[1:01:00] Obsess over customers. Buffett said this about Amazon in 2012: Amazon could affect a lot of businesses who don't think they will be affected. For Amazon, it is very hard to find unhappy customers. A business that has millions and millions of happy customers can introduce them to new items, it will be a powerhouse and could affect a lot of businesses.[1:03:00] Munger: We should make a list of everything that irritates a customer, and then we should eliminate those defects one by one.[1:04:00] Most companies, when they get rich, get sloppy.[1:05:00] Munger: One of the models in my head is the 'Northern Pike Model. You have a lake full of trout. But if you throw in a few northern pike, pretty soon there aren't many trout left but a lot of northern pike. Wal-Mart in its early days was the northern pike. It figured out how the customer could be better served and just galloped through the world like Genghis Kahn.[1:09:00] Practice! Michael Jordan: The Life by Roland Lazenby. (Founders #212)[1:10:00] Market forecasters will fill your ear, but they will never fill your wallet.[1:11:00] We don't have any new tricks. We just know the old tricks better.----Subscribe to listen to Founders Premium — Subscribers can ask me questions directly which I will answer in Ask Me Anything (AMA) episodes ----“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 PodcastThe podcast and artwork embedded on this page are from David Senra , which is the property of its owner and not affiliated with or endorsed by Listen Notes, Inc.

Founders ✓ Claim Podcast Notes Key Takeaways Young Bill Gates was like Genghis Khan in a Mr. Rogers costumeEverything he did, he did to the maxGates' first interaction with a computer was at Lakeside School, a private school in Seattle where he also met Paul Allen, with whom he co-founded Microsoft with Bill Gates became obsessed with computers at a young age to the point where his parents banned his usage of them “You want to maneuver yourself into doing something in which you have an intense interest.” – Charlie MungerGates knew that he wanted to be wealthy from an early age; he spoke about his future success and wealth as if it were predeterminedGates was one of the best math students at Harvard, but he was not the best, which to him, meant he could never be a mathematician Bill Gates dropped out of Harvard after much convincing from Paul Allen to start what eventually became Microsoft Gates was financially conservative: Microsoft got from founding to IPO without having to take money from venture capitalDespite Gates being a multi-billionaire and Microsoft being the undeniable leader of its category, Bill Gates still wanted to destroy the competition Gates knew where he was weak and was willing to listen to others Apple was just Steve Jobs with 10,000 lives; the founder's personality is going to be embedded into the company, which was also true for Bill Gates and Jeff Bezos with their respective companiesBill Gates was intolerant of distractions; he believed “focus” was the key element to successRead the full notes @ podcastnotes.orgWhat I learned from rereading Hard Drive: Bill Gates and the Making of the Microsoft Empire by James Wallace and Jim Erickson.This episode is brought to you by: Tiny: Tiny is the easiest way to sell your business. Quick and straightforward exits for Founders.----Follow one of my favorite podcasts Invest Like The Best and listen to episode 292 The Business of Gaming with Mitch Lasky and 293 David Senra Passion and Pain !----[4:00] Gates read the encyclopedia from beginning to end when he was only seven or eight years old.[4:00]  Gates had an obsessive personality and a compulsive need to be the best.[5:00] Everything Bill did, he did to the max. What he did always went well, well beyond everyone else.[6:00] You want to maneuver yourself into doing something in which you have an intense interest. —  Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger.[7:00] Gates devoured everything he could get his hands on concerning computers and how to communicate with them, often teaching himself as he went.[9:00] A young man with no money and tons of enthusiasm. — The Dream of Solomeo: My Life and the Idea of Humanistic Capitalism by Brunello Cucinelli. (Founders #289)[10:00] He consumed biographies to understand how the great figures of history thought.[11:00] The idea that some people were super successful was interesting. What did they know? What did they do? What drove those kinds of successes?[12:00] Idea Man: A Memoir by the Cofounder of Microsoft by Paul Allen. (Founders #44)[13:00] “I'm going to make my first million by the time I'm 25.” It was not said as a boast, or even a prediction. He talked about the future as if his success was predestined.[15:00] Gates and Allen were convinced the computer industry was about to reach critical mass, and when it exploded it would usher in a technological revolution of astounding magnitude. They were on the threshold of one of those moments when history held its breath... and jumped, as it had done with the development of the car and the airplane. They could either lead the revolution or be swept along by it.[17:00] Bill had a monomaniacal quality. He would focus on something and really stick with it. He had a determination to master whatever it was he was doing. Bill was deciding where he was going to put his energy and to hell with what anyone else thought.[18:00] Don't do anything that someone else can do. — Edwin Land[21:00] You've got to remember that in those days, the idea that you could own a computer, your own computer, was about as wild as the idea today of owning your own nuclear submarine. It was beyond comprehension.[23:00] There would be no unnecessary overhead or extravagant spending habits with Microsoft.[25:00] “Pertec kept telling me I was being unreasonable and they could deal with this guy [Gates]. It was like Roosevelt telling Churchill that he could deal with Stalin.[27:00] Four years in and Microsoft had only 11 employees.[28:00] Gates sustained Microsoft through tireless salesmanship. For several years he alone made the cold calls and haggled, cajoled, browbeat, and harangued the hardware makers of the emerging personal computer industry, convincing them to buy Microsoft's services and products. He was the best kind of salesman there is: he knew the product, and he believed in it. Moreover, he approached every client with the zealotry of a true believer.[29:00] When we got up to 30 employees, it was still just me, a secretary, and 28 programmers. I wrote all the checks, answered the mail, took the phone calls.[31:00] This might be Bill's most important decision ever: IBM had talked to Gates about a fixed price for an unlimited number of copies of the software Microsoft licensed to IBM. The longer Gates thought about this proposal the more he became convinced it was bad business. Gates had decided to insist on a royalty arrangement with IBM.[34:00] You have to be uncompromised in your level of commitment to whatever you are doing, or it can disappear as fast as it appeared. Look around, just about any person or entity achieving at a high level has the same focus. The morning after Tiger Woods rallied to beat Phil Mickelson at the Ford Championship in 2005, he was in the gym by 6:30 to work out. No lights. No cameras. No glitz or glamour. Uncompromised. — Driven From Within by Michael Jordan and Mark Vancil. (Founders #213)[36:00] Overdrive: Bill Gates and the Race to Control Cyberspace by James Wallace. (Founders #174)[42:00] You can drive great people by making the speed of decision making really slow. Why would great people stay in an organization where they can't get things done? They look around after a while, and they're, like, "Look, I love the mission, but I can't get my job done because our speed of decision making is too slow."—Invent and Wander: The Collected Writings of Jeff Bezos (Founders #155)[43:00] Alexander the Great: The Brief Life and Towering Exploits of History's Greatest Conqueror--As Told By His Original Biographers by Arrian, Plutarch, and Quintus Curtius Rufus. (Founders #232)[44:00] Gates was intolerant of distractions.----Subscribe to listen to Founders Premium — Subscribers can ask me questions directly and listen to Ask Me Anything (AMA) episodes. ----Join my free email newsletter to get my top 10 highlights from every book----I use Readwise to organize and remember everything I read. You can try Readwise for 60 days for free 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

Founders ✓ Claim : Read the notes at at podcastnotes.org. Don't forget to subscribe for free to our newsletter, the top 10 ideas of the week, every Monday --------- What I learned from rereading Hard Drive: Bill Gates and the Making of the Microsoft Empire by James Wallace and Jim Erickson.----This episode is brought to you by: Tiny: Tiny is the easiest way to sell your business. Quick and straightforward exits for Founders.----Follow one of my favorite podcasts Invest Like The Best and listen to episode 292 The Business of Gaming with Mitch Lasky and 293 David Senra Passion and Pain !----[4:00] Gates read the encyclopedia from beginning to end when he was only seven or eight years old.[4:00]  Gates had an obsessive personality and a compulsive need to be the best.[5:00] Everything Bill did, he did to the max. What he did always went well, well beyond everyone else.[6:00] You want to maneuver yourself into doing something in which you have an intense interest. —  Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger.[7:00] Gates devoured everything he could get his hands on concerning computers and how to communicate with them, often teaching himself as he went.[9:00] A young man with no money and tons of enthusiasm. — The Dream of Solomeo: My Life and the Idea of Humanistic Capitalism by Brunello Cucinelli. (Founders #289)[10:00] He consumed biographies to understand how the great figures of history thought.[11:00] The idea that some people were super successful was interesting. What did they know? What did they do? What drove those kinds of successes?[12:00] Idea Man: A Memoir by the Cofounder of Microsoft by Paul Allen. (Founders #44)[13:00] “I'm going to make my first million by the time I'm 25.” It was not said as a boast, or even a prediction. He talked about the future as if his success was predestined.[15:00] Gates and Allen were convinced the computer industry was about to reach critical mass, and when it exploded it would usher in a technological revolution of astounding magnitude. They were on the threshold of one of those moments when history held its breath... and jumped, as it had done with the development of the car and the airplane. They could either lead the revolution or be swept along by it.[17:00] Bill had a monomaniacal quality. He would focus on something and really stick with it. He had a determination to master whatever it was he was doing. Bill was deciding where he was going to put his energy and to hell with what anyone else thought.[18:00] Don't do anything that someone else can do. — Edwin Land[21:00] You've got to remember that in those days, the idea that you could own a computer, your own computer, was about as wild as the idea today of owning your own nuclear submarine. It was beyond comprehension.[23:00] There would be no unnecessary overhead or extravagant spending habits with Microsoft.[25:00] “Pertec kept telling me I was being unreasonable and they could deal with this guy [Gates]. It was like Roosevelt telling Churchill that he could deal with Stalin.[27:00] Four years in and Microsoft had only 11 employees.[28:00] Gates sustained Microsoft through tireless salesmanship. For several years he alone made the cold calls and haggled, cajoled, browbeat, and harangued the hardware makers of the emerging personal computer industry, convincing them to buy Microsoft's services and products. He was the best kind of salesman there is: he knew the product, and he believed in it. Moreover, he approached every client with the zealotry of a true believer.[29:00] When we got up to 30 employees, it was still just me, a secretary, and 28 programmers. I wrote all the checks, answered the mail, took the phone calls.[31:00] This might be Bill's most important decision ever: IBM had talked to Gates about a fixed price for an unlimited number of copies of the software Microsoft licensed to IBM. The longer Gates thought about this proposal the more he became convinced it was bad business. Gates had decided to insist on a royalty arrangement with IBM.[34:00] You have to be uncompromised in your level of commitment to whatever you are doing, or it can disappear as fast as it appeared. Look around, just about any person or entity achieving at a high level has the same focus. The morning after Tiger Woods rallied to beat Phil Mickelson at the Ford Championship in 2005, he was in the gym by 6:30 to work out. No lights. No cameras. No glitz or glamour. Uncompromised. — Driven From Within by Michael Jordan and Mark Vancil. (Founders #213)[36:00] Overdrive: Bill Gates and the Race to Control Cyberspace by James Wallace. (Founders #174)[42:00] You can drive great people by making the speed of decision making really slow. Why would great people stay in an organization where they can't get things done? They look around after a while, and they're, like, "Look, I love the mission, but I can't get my job done because our speed of decision making is too slow."—Invent and Wander: The Collected Writings of Jeff Bezos (Founders #155)[43:00] Alexander the Great: The Brief Life and Towering Exploits of History's Greatest Conqueror--As Told By His Original Biographers by Arrian, Plutarch, and Quintus Curtius Rufus. (Founders #232)[44:00] Gates was intolerant of distractions.----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 ✓ Claim Podcast Notes Key Takeaways Young Bill Gates was like Genghis Khan in a Mr. Rogers costumeEverything he did, he did to the maxGates' first interaction with a computer was at Lakeside School, a private school in Seattle where he also met Paul Allen, with whom he co-founded Microsoft with Bill Gates became obsessed with computers at a young age to the point where his parents banned his usage of them “You want to maneuver yourself into doing something in which you have an intense interest.” – Charlie MungerGates knew that he wanted to be wealthy from an early age; he spoke about his future success and wealth as if it were predeterminedGates was one of the best math students at Harvard, but he was not the best, which to him, meant he could never be a mathematician Bill Gates dropped out of Harvard after much convincing from Paul Allen to start what eventually became Microsoft Gates was financially conservative: Microsoft got from founding to IPO without having to take money from venture capitalDespite Gates being a multi-billionaire and Microsoft being the undeniable leader of its category, Bill Gates still wanted to destroy the competition Gates knew where he was weak and was willing to listen to others Apple was just Steve Jobs with 10,000 lives; the founder's personality is going to be embedded into the company, which was also true for Bill Gates and Jeff Bezos with their respective companiesBill Gates was intolerant of distractions; he believed “focus” was the key element to successRead the full notes @ podcastnotes.orgWhat I learned from rereading Hard Drive: Bill Gates and the Making of the Microsoft Empire by James Wallace and Jim Erickson.This episode is brought to you by: Tiny: Tiny is the easiest way to sell your business. Quick and straightforward exits for Founders.----Follow one of my favorite podcasts Invest Like The Best and listen to episode 292 The Business of Gaming with Mitch Lasky and 293 David Senra Passion and Pain !----[4:00] Gates read the encyclopedia from beginning to end when he was only seven or eight years old.[4:00]  Gates had an obsessive personality and a compulsive need to be the best.[5:00] Everything Bill did, he did to the max. What he did always went well, well beyond everyone else.[6:00] You want to maneuver yourself into doing something in which you have an intense interest. —  Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger.[7:00] Gates devoured everything he could get his hands on concerning computers and how to communicate with them, often teaching himself as he went.[9:00] A young man with no money and tons of enthusiasm. — The Dream of Solomeo: My Life and the Idea of Humanistic Capitalism by Brunello Cucinelli. (Founders #289)[10:00] He consumed biographies to understand how the great figures of history thought.[11:00] The idea that some people were super successful was interesting. What did they know? What did they do? What drove those kinds of successes?[12:00] Idea Man: A Memoir by the Cofounder of Microsoft by Paul Allen. (Founders #44)[13:00] “I'm going to make my first million by the time I'm 25.” It was not said as a boast, or even a prediction. He talked about the future as if his success was predestined.[15:00] Gates and Allen were convinced the computer industry was about to reach critical mass, and when it exploded it would usher in a technological revolution of astounding magnitude. They were on the threshold of one of those moments when history held its breath... and jumped, as it had done with the development of the car and the airplane. They could either lead the revolution or be swept along by it.[17:00] Bill had a monomaniacal quality. He would focus on something and really stick with it. He had a determination to master whatever it was he was doing. Bill was deciding where he was going to put his energy and to hell with what anyone else thought.[18:00] Don't do anything that someone else can do. — Edwin Land[21:00] You've got to remember that in those days, the idea that you could own a computer, your own computer, was about as wild as the idea today of owning your own nuclear submarine. It was beyond comprehension.[23:00] There would be no unnecessary overhead or extravagant spending habits with Microsoft.[25:00] “Pertec kept telling me I was being unreasonable and they could deal with this guy [Gates]. It was like Roosevelt telling Churchill that he could deal with Stalin.[27:00] Four years in and Microsoft had only 11 employees.[28:00] Gates sustained Microsoft through tireless salesmanship. For several years he alone made the cold calls and haggled, cajoled, browbeat, and harangued the hardware makers of the emerging personal computer industry, convincing them to buy Microsoft's services and products. He was the best kind of salesman there is: he knew the product, and he believed in it. Moreover, he approached every client with the zealotry of a true believer.[29:00] When we got up to 30 employees, it was still just me, a secretary, and 28 programmers. I wrote all the checks, answered the mail, took the phone calls.[31:00] This might be Bill's most important decision ever: IBM had talked to Gates about a fixed price for an unlimited number of copies of the software Microsoft licensed to IBM. The longer Gates thought about this proposal the more he became convinced it was bad business. Gates had decided to insist on a royalty arrangement with IBM.[34:00] You have to be uncompromised in your level of commitment to whatever you are doing, or it can disappear as fast as it appeared. Look around, just about any person or entity achieving at a high level has the same focus. The morning after Tiger Woods rallied to beat Phil Mickelson at the Ford Championship in 2005, he was in the gym by 6:30 to work out. No lights. No cameras. No glitz or glamour. Uncompromised. — Driven From Within by Michael Jordan and Mark Vancil. (Founders #213)[36:00] Overdrive: Bill Gates and the Race to Control Cyberspace by James Wallace. (Founders #174)[42:00] You can drive great people by making the speed of decision making really slow. Why would great people stay in an organization where they can't get things done? They look around after a while, and they're, like, "Look, I love the mission, but I can't get my job done because our speed of decision making is too slow."—Invent and Wander: The Collected Writings of Jeff Bezos (Founders #155)[43:00] Alexander the Great: The Brief Life and Towering Exploits of History's Greatest Conqueror--As Told By His Original Biographers by Arrian, Plutarch, and Quintus Curtius Rufus. (Founders #232)[44:00] Gates was intolerant of distractions.----Subscribe to listen to Founders Premium — Subscribers can ask me questions directly and listen to Ask Me Anything (AMA) episodes. ----Join my free email newsletter to get my top 10 highlights from every book----I use Readwise to organize and remember everything I read. You can try Readwise for 60 days for free 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

What I learned from rereading Hard Drive: Bill Gates and the Making of the Microsoft Empire by James Wallace and Jim Erickson.This episode is brought to you by: Tiny: Tiny is the easiest way to sell your business. Quick and straightforward exits for Founders.----Follow one of my favorite podcasts Invest Like The Best and listen to episode 292 The Business of Gaming with Mitch Lasky and 293 David Senra Passion and Pain !----[4:00] Gates read the encyclopedia from beginning to end when he was only seven or eight years old.[4:00]  Gates had an obsessive personality and a compulsive need to be the best.[5:00] Everything Bill did, he did to the max. What he did always went well, well beyond everyone else.[6:00] You want to maneuver yourself into doing something in which you have an intense interest. —  Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger.[7:00] Gates devoured everything he could get his hands on concerning computers and how to communicate with them, often teaching himself as he went.[9:00] A young man with no money and tons of enthusiasm. — The Dream of Solomeo: My Life and the Idea of Humanistic Capitalism by Brunello Cucinelli. (Founders #289)[10:00] He consumed biographies to understand how the great figures of history thought.[11:00] The idea that some people were super successful was interesting. What did they know? What did they do? What drove those kinds of successes?[12:00] Idea Man: A Memoir by the Cofounder of Microsoft by Paul Allen. (Founders #44)[13:00] “I'm going to make my first million by the time I'm 25.” It was not said as a boast, or even a prediction. He talked about the future as if his success was predestined.[15:00] Gates and Allen were convinced the computer industry was about to reach critical mass, and when it exploded it would usher in a technological revolution of astounding magnitude. They were on the threshold of one of those moments when history held its breath... and jumped, as it had done with the development of the car and the airplane. They could either lead the revolution or be swept along by it.[17:00] Bill had a monomaniacal quality. He would focus on something and really stick with it. He had a determination to master whatever it was he was doing. Bill was deciding where he was going to put his energy and to hell with what anyone else thought.[18:00] Don't do anything that someone else can do. — Edwin Land[21:00] You've got to remember that in those days, the idea that you could own a computer, your own computer, was about as wild as the idea today of owning your own nuclear submarine. It was beyond comprehension.[23:00] There would be no unnecessary overhead or extravagant spending habits with Microsoft.[25:00] “Pertec kept telling me I was being unreasonable and they could deal with this guy [Gates]. It was like Roosevelt telling Churchill that he could deal with Stalin.[27:00] Four years in and Microsoft had only 11 employees.[28:00] Gates sustained Microsoft through tireless salesmanship. For several years he alone made the cold calls and haggled, cajoled, browbeat, and harangued the hardware makers of the emerging personal computer industry, convincing them to buy Microsoft's services and products. He was the best kind of salesman there is: he knew the product, and he believed in it. Moreover, he approached every client with the zealotry of a true believer.[29:00] When we got up to 30 employees, it was still just me, a secretary, and 28 programmers. I wrote all the checks, answered the mail, took the phone calls.[31:00] This might be Bill's most important decision ever: IBM had talked to Gates about a fixed price for an unlimited number of copies of the software Microsoft licensed to IBM. The longer Gates thought about this proposal the more he became convinced it was bad business. Gates had decided to insist on a royalty arrangement with IBM.[34:00] You have to be uncompromised in your level of commitment to whatever you are doing, or it can disappear as fast as it appeared. Look around, just about any person or entity achieving at a high level has the same focus. The morning after Tiger Woods rallied to beat Phil Mickelson at the Ford Championship in 2005, he was in the gym by 6:30 to work out. No lights. No cameras. No glitz or glamour. Uncompromised. — Driven From Within by Michael Jordan and Mark Vancil. (Founders #213)[36:00] Overdrive: Bill Gates and the Race to Control Cyberspace by James Wallace. (Founders #174)[42:00] You can drive great people by making the speed of decision making really slow. Why would great people stay in an organization where they can't get things done? They look around after a while, and they're, like, "Look, I love the mission, but I can't get my job done because our speed of decision making is too slow."—Invent and Wander: The Collected Writings of Jeff Bezos (Founders #155)[43:00] Alexander the Great: The Brief Life and Towering Exploits of History's Greatest Conqueror--As Told By His Original Biographers by Arrian, Plutarch, and Quintus Curtius Rufus. (Founders #232)[44:00] Gates was intolerant of distractions.----Subscribe to listen to Founders Premium — Subscribers can ask me questions directly and listen to Ask Me Anything (AMA) episodes. ----Join my free email newsletter to get my top 10 highlights from every book----I use Readwise to organize and remember everything I read. You can try Readwise for 60 days for free 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

What I learned from reading All I Want To Know Is Where I'm Going To Die So I'll Never Go There: Buffett & Munger – A Study in Simplicity and Uncommon, Common Sense by Peter Bevelin. This episode is brought to you by: Tiny: Tiny is the easiest way to sell your business. Quick and straightforward exits for Founders.----Follow one of my favorite podcasts Invest Like The Best and listen to episode Mitch Lasky—The Business of GamingFollow the podcast Gamecraft to learn more about the history of the video game industry. ----[2:01] Buffett and Munger have a remarkable ability to eliminate folly, simplify things, boil down issues to their essence, get right to the point, and focus on simple and timeless truths.[3:00] The Almanack of Naval Ravikant: A Guide to Wealth and Happiness by Naval Ravikant and Eric Jorgenson.  (Founders #191)[4:00] Warren Buffet or Charlie Munger are the very wise grandfather figure that I never had.[5:00] To try to live your life totally free of mistakes is a life of inaction. —Warren Buffett[5:00] The sign above the players' entrance to the field at Notre Dame reads ´Play Like a Champion Today.' I sometimes joke that the sign at Nebraska reads 'Remember Your Helmet.' Charlie and I are 'Remember Your Helmet' kind of guys.' We like to keep it simple. (You must structure your life and business to be able to survive the inevitable bad decisions you're going to make.)[5:00] Wisdom is prevention. —Charlie Munger[6:00] We make actual decisions very rapidly, but that's because we've spent so much time preparing ourselves by quietly sitting and reading and thinking. —Charlie Munger[7:00] If you get into the mental habit of relating what you're reading to the basic underlying ideas being demonstrated, you gradually accumulate some wisdom. —Charlie Munger[7:00] At Berkshire, we don't have any meetings or committees, and I can think of no better way to become more intelligent than sit down and read. I hate meetings, frankly. I have created something that I enjoy: I happen to enjoy reading a lot, and I happen to enjoy thinking about things. —Warren Buffett[7:00] We both hate to have too many forward commitments in our schedules. We both insist on a lot of time being available to just sit and think. —Charlie Munger[8:00] I need eight hours of sleep. I think better. I have more energy. My mood is better. And think about it: As a senior executive, what do you really get paid to do? You get paid to make a small number of high-quality decisions. — Invent and Wander: The Collected Writings of Jeff Bezos, With an Introduction by Walter Isaacson. (Founders #155)[9:00] I think people that multitask pay a huge price. When you multitask so much, you don't have time to think about anything deeply. You're giving the world an advantage you shouldn't do. Practically everybody is drifting into that mistake. I did not succeed in life by intelligence. I succeeded because I have a long attention span. —Charlie Munger[9:00] Jony Ive on Steve Jobs: Steve was the most remarkably focused person I've ever met. (Video)[11:00] It is just that simple. We've had enough good sense when something was working well, keep doing it. The fundamental algorithm of life: repeat what works. —Charlie Munger[13:00] ALL THE BUFFETT AND MUNGER EPISODES:Berkshire Hathaway Letters to Shareholders 1965-2018 by Warren Buffett. (Founders #88) The Snowball: Warren Buffett and the Business of Life by Alice Schroeder. (Founders #100)The Tao of Warren Buffett by Mary Buffett & David Clark. (Founders #101) Buffett: The Making of an American Capitalist by Roger Lowenstein. (Founders #182) A Few Lessons for Investors and Managers From Warren Buffett by Warren Buffett and Peter Bevelin. (Founders #202) The Essays of Warren Buffett by Warren Buffett and Lawrence Cunningham. (Founders #227)  Tao of Charlie Munger by David Clark (Founders #78) Charlie Munger: The Complete Investor by Tren Griffin. (Founders #79) Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger. (Founders #90) Damn Right: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger by Janet Lowe. (Founders #221) [14:00] Buffett: It's an inversion process. Start out with failure, and then engineer its removal.[15:00] Munger: I figure out what I don't like instead of figuring out what I like in order to get what I like.[15:00] Repetition is the mother of learning.[17:00] Munger: You can see the results of not learning from others' mistakes by simply looking about you. How little originality there is in the common disasters of mankind. (Business failures through repetition of obvious mistakes made by predecessors and so on.)[18:00] Munger: History allows you to keep things in perspective.[18:00] Everything that needs to be said has already been said. But since no one was listening, everything must be said again.[19:00] Berkshire was a small business at one time. It just takes time. It is the nature of compound interest. You cannot build it in one day or one week.[20:00] Pretend that every single person you meet has a sign around his or her neck that says, “Make me feel important.”[22:00] Buffett: In almost 60 years of investing we found it practically useless to give advice to anyone.[23:00] Munger: One of my favorite stories is about the little boy in Texas. The teacher asked the class, If there are nine sheep in the pen and one jumps out, how many are left? And everybody got the answer right except this little boy, who said, None of them are left. And the teacher said, You don't understand arithmetic. And he said No, teacher. You don't understand sheep.[25:00] Quite often Henry simply talked about his philosophy of running a corporation and the various financial strategies that he came up with as he sat in his corner office each day, often working at his Apple computer. He was a brilliant business strategist, just as he was a brilliant chess strategist and he came up with many creative ideas, ideas that were sometimes contrary to the currently accepted methods of managing a large corporation that prevailed in those days.“He always tries to work out the best moves," Shannon said, "and maybe he doesn't like to talk too much, because when you are playing a game you don't tell anyone else what your strategy is." — Distant Force: A Memoir of the Teledyne Corporation and the Man Who Created It by Dr. George Roberts. (Founders #110)[28:00] Buffett: The difference between successful people and very successful people is that very successful people say no to almost everything.[29:00] If you want to know whether you are destined to be a success or a failure in life, you can easily find out. The test is simple and it is infallible: Are you able to save money? If not, drop out. You will lose. You may think not, but you will lose as sure as you live. The seed of success is not in you. — James J. Hill: Empire Builder of the Northwest by Michael P. Malone. (Founders #96)[31:00] Buffett: Life tends to snap you at your weakest link.[35:00] Sol Price: Retail Revolutionary & Social Innovator by Robert E. Price (Founders #107)[38:00] Paul Graham's essays (Founders #275-277)[39:00] I'm very suspect of the person who is very good at one business, who starts thinking they should tell the world how to behave on everything. —Warren Buffett[42:00] The Essays of Warren Buffett by Warren Buffett and Lawrence Cunningham. (Founders #227)[44:00] This life isn't a greenroom for something else. He went for it. —Bourdain: The Definitive Oral Biography by Laurie Woolever.[44:00] Buffett: We're here on the earth only one time so you ought to be doing something that you enjoy as you go along and you can be enthusiastic about.[48:00] Personal History by Katherine Graham. (Founders #152)[49:00] The problem is not getting rich, it is staying sane. —Charlie Munger[54:00] Learning is not memorizing information. Learning is changing your behavior. Most people can't learn from the experiences of other people: Charlie and I don't expect to win you over to our way of thinking—we've observed enough human behavior to know the futility of that, but we do want you to be aware of our personal calculus.[57:00] We are individual opportunity driven. Our acquisition technique at Berkshire is simplicity itself: We answer the phone.[1:00:00] A brand is a promise. —Warren Buffett[1:01:00] Obsess over customers. Buffett said this about Amazon in 2012: Amazon could affect a lot of businesses who don't think they will be affected. For Amazon, it is very hard to find unhappy customers. A business that has millions and millions of happy customers can introduce them to new items, it will be a powerhouse and could affect a lot of businesses.[1:03:00] Munger: We should make a list of everything that irritates a customer, and then we should eliminate those defects one by one.[1:04:00] Most companies, when they get rich, get sloppy.[1:05:00] Munger: One of the models in my head is the 'Northern Pike Model. You have a lake full of trout. But if you throw in a few northern pike, pretty soon there aren't many trout left but a lot of northern pike. Wal-Mart in its early days was the northern pike. It figured out how the customer could be better served and just galloped through the world like Genghis Kahn.[1:09:00] Practice! Michael Jordan: The Life by Roland Lazenby. (Founders #212)[1:10:00] Market forecasters will fill your ear, but they will never fill your wallet.[1:11:00] We don't have any new tricks. We just know the old tricks better.----Subscribe to listen to Founders Premium — Subscribers can ask me questions directly which I will answer in Ask Me Anything (AMA) episodes ----“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

What I learned from rereading Jeff Bezos' Shareholder Letters (for the 3rd time!) Read Jeff's letter in book form: Invent and Wander: The Collected Writings of Jeff Bezos or for free online: Amazon Investor Relations—This episode is brought to you by: Tiny: Tiny is the easiest way to sell your business. Quick and straightforward exits for Founders.—Follow one of my favorite podcasts Invest Like The Best  Subscribe to listen to Founders Premium — Subscribers can now ask me questions directly which I will answer in Ask Me Anything (AMA) episodes [2:30] Amazon hopes to create an enduring franchise[3:00] Because of our emphasis on the long term, we may make decisions and weigh trade-offs differently than some companies.[4:00] We will continue to focus relentlessly on our customers.[4:00] We will work hard to spend wisely and maintain our lean culture. We understand the importance of continually reinforcing a cost-conscious culture.[4:00] We set out to offer customers something they simply could not get any other way.[5:00] Word of mouth remains the most powerful customer acquisition tool that we have.[5:00] We are working to build something important, something that matters to our customers, something that we can all tell our grandchildren about. Such things aren't meant to be easy.[6:00] "To read Bezos' shareholder letters is to get a crash course in running a high-growth internet business from someone who mastered it before any of the playbooks were written." — From CB Insights[7:00] Common themes repeated in Jeff's letters:more innovation is ahead of usit is still early — the opporunity —if we execute well — is enourmouswe will move quicklywe will endure. amazon will be a durable long lasting companywe will focus on cash flowonce in a lifetime opportunities will be risky (jeff gave himself a 30% chance of success at best)customer obsession is our north star. it is what we will bet the company on.BOLD frugal lean culture that sam walton would approve ofthis will be hard — all valuable things arewe will have to learn along the way[8:00] Sam Walton: Made In America by Sam Walton. (Founders #234)[11:00] I would love to ask Jeff the question, “If you could only have one word to describe you on your tombstone, what would it be?” My guess is he would pick “relentless.”[16:00] We believe we have reached a "tipping  point," where this platform allows us to launch new ecommerce businesses faster, with a higher quality of customer experience, a lower incremental cost, a higher chance of success, and a faster path to scale and profitability than any other company. (A company that builds companies)[17:00] Made in Japan: Akio Morita and Sony by Akio Morita. (Founders #102)[19:00] We will continue to invest heavily in introductions to new customers. Though it's sometimes hard to imagine with all that has happened in the last five years, this remains Day 1 for ecommerce, and these are the early days of category formation where many customers are forming relationships for the first time. We must work hard to grow the number of customers who shop with us. (He was right about this — what is the lifetime value of an Amazon customer over 17 years?)[21:00] To us, operational excellence implies two things: delivering continuous improvement in customer experience and driving productivity, margin, efficiency, and asset velocity across all our businesses.Often, the best way to drive one of these is to deliver the other.For instance, more efficient distribution yields faster delivery times, which in turn lowers contacts per order and customer service costs. These, in turn, improve customer experience and build brand, which in turn decreases customer acquisition and retention costs.[22:00] Creative Selection: Inside Apple's Design Process During the Golden Age of Steve Jobs by Ken Kocienda (Founders #281)[24:00] Jeff Bezos on The Electricity Metaphor for the Web's Future[27:00] Repeat this loop: Focus on cost improvement makes it possible for us to afford to lower prices, which drives growth. Growth spreads fixed costs across more sales, reducing cost per unit, which makes possible more price reductions. Customers like this, and it's good for shareholders. Please expect us to repeat this loop.[29:00] The Everything Store: Jeff Bezos and the Age of Amazon by Brad Stone. (Founders #179)[35:00] My Life and Work by Henry Ford. (Founders #266)[40:00] Jeff Bezos is unapologetically extreme. He is already the best and still wants to be better.[41:00] This part is incredible— on the need for good judgement and why data may lead you to make the wrong decision:Our quantitative understanding of elasticity is short-term. We can estimate what a price reduction will do this week and this quarter. But we cannot numerically estimate the effect that consistently lowering prices will have on our business over five years or ten years or more. Our judgment is that relentlessly returning efficiency improvements and scale economies to customers in the form of lower prices creates a virtuous cycle that leads over the long term to a much larger dollar amount of free cash flow, and thereby to a much more valuable Amazon.[43:00] Don't build an undifferentiated commodity business. — Zero to One: Notes on Startups, or How to Build the Future by Peter Thiel. (Founders #278)[44:00] Differentiation is survival.[49:00] Missionaries build better products.[50:00] Long-term thinking levers our existing abilities and lets us do new things we couldn't otherwise contemplate. It supports the failure and iteration required for invention, and it frees us to pioneer in unexplored spaces. Seek instant gratification-or the elusive promise of it-and chances are you'll find a crowd there ahead of you. Long-term orientation interacts well with customer obsession. If we can identify a customer need and if we can further develop conviction that that need is meaningful and durable, our approach permits us to work patiently for multiple years to deliver a solution.[52:00] Problems are just opportunities in work clothes.[53:00] Similar idea said two different ways:Jeff Bezos: The financial results for 2009 reflect the cumulative efforts of 15 years of customer experience improvements.Peter Thiel: If you focus on near-term growth above all else, you miss the most important question you should be asking: will this business still be around a decade from now?[55:00] The most radical and transformative of inventions are often those that empower others to unleash their creativity—to pursue their dreams.[57:00] A dreamy business offering has at least four characteristics.—Customers love it—It can grow to very large size—It has strong returns on capital—It's durable in time-with the potential to endure for decades.When you find one of these get married.[1:03:00] Be a yardstick of quality. Some people aren't used to an environment where excellence is expected. — Inside Steve's Brain by Leander Kahney. (Founders #204)[1:03:00] I believe high standards are teachable. High standards are contagious.  —Jeff Bezos[1:04:00] Leaders have relentlessly high standards. Many people may think these standards are unreasonably high.[1:07:00] The key point here is that you can improve results through the simple act of teaching scope-that a great memo probably should take a week or more.[1:10:00] Differentiation is Survival and the Universe Wants You to be TypicalIn what ways does the world pull at you in an attempt to make you normal?How much work does it take to maintain your distinctiveness?To keep alive the thing or things that make you special?We all know that distinctiveness – originality – is valuable.What I'm asking you to do is to embrace how much energy it takes to maintain that distinctiveness.The world wants you to be typical – in a thousand ways, it pulls at you.Don't let it happen.Subscribe to listen to Founders Premium — Subscribers can now ask me questions directly which I will answer in Ask Me Anything (AMA) episodes —I use Readwise to organize and remember everything I read. You can try Readwise for 60 days for free https://readwise.io/founders/—“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

What I learned from reading Pieces of the Action by Vannevar Bush.Support Founders' sponsors: Tiny: The easiest way to sell your business. Quick and straightforward exits for Founders. andCapital: Raise, hold, and spend capital all in one place. and Tegus is a search engine for business knowledge that's used by founders, investors, and executives. It's incredible what they're building. Try it for free by visiting Tegus.[7:15] Pieces of the Action offers his hard-won lessons on how to operate and manage effectively within complex organizations and drive ambitious, unprecedented programs to fruition.[8:54] Stripe Press Books:The Dream Machine by M. Mitchell WaldropThe Making of Prince of Persia: Journals 1985-1993 by Jordan Mechner.[9:24] Endless Frontier: Vannevar Bush, Engineer of the American Century by G. Pascal Zachary[10:40] Any exploration of the institutions that shape how we do research, generate discoveries, create inventions, and turn ideas into innovations inevitably leads back to Vannevar Bush.[11:26] No American has had greater influence in the growth of science and technology than Vannevar Bush.[12:23] That's why I'm going to encourage you to order this book —because when you pick it up and you read it —you're reading the words of an 80 year old genius. One of the most formidable and accomplished people that has ever lived— laying out what he learned over his six decade long career.[14:38] A Mind at Play: How Claude Shannon Invented the Information Age by Jimmy Soni and Rob Goodman (Founders #95)[15:12] Bootstrapping: Douglas Engelbart, Coevolution, and the Origins of Personal Computing by Thierry Bardini[15:48] I don't know what Silicon Valley will do when it runs out of Doug Engelbart's ideas. —  The Innovators: How a Group of Hackers, Geniuses, and Geeks Created the Digital Revolution by Walter Isaacson. (Founders #157)[18:54] Bush points out that tipping points often rest with far-seeing, energetic individuals. We can be those individuals.[20:36] I went into this book with little more than a name and came out with the closest thing to a mentor someone you've never met can be.[20:58] We are not the first to face problems, and as we face them we can hold our heads high. In such spirit was this book written.[24:38] The essence of civilization is the transmission of the findings of each generation to the next.[29:00] This is not a call for optimism, it is a call for determination.[31:12] It is pleasant to turn to situations where conservatism or lethargy were overcome by farseeing, energetic individuals.[31:34] People are really a power law and that the best ones can change everything. —Sam Hinkie[33:46] There should never be, throughout an organization, any doubt as to where authority for making decisions resides, or any doubt that they will be promptly made.[34:32] You can drive great people by making the speed of decision making really slow. Why would great people stay in an organization where they can't get things done? They look around after a while, and they're, like, "Look, I love the mission, but I can't get my job done because our speed of decision making is too slow." — Invent and Wander: The Collected Writings of Jeff Bezos by Jeff Bezos and Walter Isaacson.(Founders #155)[38:36] Rigid lines of authority do not produce the best innovations.[38:42] Research projects flowered in pockets all around the company, many of them without Steve's blessing or even awareness.They'd come to Steve's attention only if one of his key managers decided that the project or technology showed real potential.In that case, Steve would check it out, and the information he'd glean would go into the learning machine that was his brain. Sometimes that's where it would sit, and nothing would happen. Sometimes, on the other hand, he'd concoct a way to combine it with something else he'd seen, or perhaps to twist it in a way to benefit an entirely different project altogether.This was one of his great talents, the ability to synthesize separate developments and technologies into something previously unimaginable. —Becoming Steve Jobs: The Evolution of a Reckless Upstart into a Visionary Leader by Brent Schlender and Rick Tetzeli (Founders #265)[40:56] He was so industrious that he became a positive annoyance to others who felt less inclined to work.  —Pulitzer: A Life in Politics, Print, and Power by James McGrath Morris. (Founders #135)[42:22] Tuxedo Park: A Wall Street Tycoon and The Secret Palace of Science That Changed The Course of World War II by Jennet Conant. (Founders #143)[45:35] If a man is a good judge of men, he can go far on that skill alone.[46:00] All the past episodes mentioned by Vannevar Bush in this book:General Leslie Groves: The General and the Genius: Groves and Oppenheimer—The Unlikely Partnership that Built the Atom Bomb by James Kunetka. (Founders #215)J. Robert Oppenheimer: The General and the Genius: Groves and Oppenheimer—The Unlikely Partnership that Built the Atom Bomb by James Kunetka. (Founders #215)Alfred Lee Loomis: Tuxedo Park: A Wall Street Tycoon and The Secret Palace of Science That Changed The Course of World War II by Jennet Conant. (Founders #143)J.P. Morgan: The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance by Ron Chernow. (Founders #139)The Hour of Fate: Theodore Roosevelt, J.P. Morgan, and the Battle to Transform American Capitalism by Susan Berfield. (Founders #142)Orville Wright: The Wright Brothers by David McCullough. (Founders #239)Birdmen: The Wright Brothers, Glenn Curtiss, and the Battle to Control the Skies by Lawrence Goldstone. (Founders #241)Edwin Land: Land's Polaroid: A Company and the Man Who Invented It by Peter C. Wensberg. (Founders #263)Instant: The Story of Polaroid by Christopher Bonanos. (Founders #264)Henry J. Kaiser: Builder in the Modern American West by Mark Foster. (Founders #66)Professional Amateur: The Biography of Charles Franklin Kettering by Thomas Boyd (Founders #125)Reluctant Genius: The Passionate Life and Inventive Mind of Alexander Graham Bellby Charlotte Gray. (Founders #138)[48:21] Difficulties are often encountered in bringing an invention into production and use.[48:47] An invention has some of the characteristics of a poem.It is said that a poet may derive real joy out of making a poem, even if it is never published, even if he does not recite it to his friends, even if it is not a very good poem.No doubt, one has to be a poet to understand this.In the same way, an inventor can derive real satisfaction out of making an invention, even if he never expects to make a nickel out of it, even if he knows it is a bit foolish, provided he feels it involves ingenuity and insight.An inventor invents because he cannot help it, and also because he gets quiet fun out of doing so.Sometimes he even makes money at it, but not by himself. One has to be an inventor to understand this.One evening in Dayton, I dined alone with Orville Wright.During a long evening, we discussed inventions we had made that had never amounted to anything. He took me up to the attic and showed me models of various weird gadgets.I had plenty of similar efforts to tell him about, and we enjoyed ourselves thoroughly.Neither of us would have thus spilled things except to a fellow practitioner, one who had enjoyed the elation of creation and who knew that such elation is, to a true devotee, independent of practical results.So it is also, I understand, with poets.[51:28] Against The Odds: An Autobiography by James Dyson (Founders #200)[52:21] When picking an industry to enter, my favorite rule of thumb is this: Pick an industry where the founders of the industry—the founders of the important companies in the industry—are still alive and actively involved. — The Pmarca Blog Archive Ebook by Marc Andreessen. (Founders #50)[57:18] If a company operates only under patents it owns, and infringes on no others, its monopoly should not be disturbed, and the courts so hold. An excellent example is Polaroid Corporation. Founded by Edwin Land, one of the most ingenious men I ever knew (and also one of the wisest), it has grown and prospered because of his inventions and those of his team.[1:00:46] I came to the realization that they knew more about the subject than I did. In some ways, this was not strange. They were concentrating on it and I was getting involved in other things.[1:01:31] P.T. Barnum: An American Life by Robert Wilson. (Founders #137)[1:05:53] We make progress, lots of progress, in nearly every intellectual field, only to find that the more we probe, the faster our field of ignorance expands.[1:11:41] All the books from Stripe Press—Get 60 days free of Readwise. It is the best app I pay for. I couldn't make Founders without it.—“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

In this video, I share the highlights and key takeaways from the 5 books I read In February 2022. Not every book is directly related to business, however, each book has the potential to provide valuable insights or lessons that can be applied to business, economy, and personal growth.Want to leave a COMMENT or watch the VIDEO edition?► https://youtu.be/3vermEk63Bw 1. WRITE USEFUL BOOKS by Rob FitzpatrickBuy It On Amazon ➜ https://www.amazon.com/dp/1919621601/Book Summary ➜ https://youtu.be/bKuEySkYjV42. DEBT by David GraeberBuy It On Amazon ➜ https://www.amazon.com/dp/1612194192/3. THE BOOK OF BEAUTIFUL QUESTIONS by Warren BergerBuy It On Amazon ➜ https://www.amazon.com/dp/163286956X/4. INVENT & WANDER The Collected Writings of Jeff Bezos with an introduction by Walter IsaacsonBuy It On Amazon ➜ https://www.amazon.com/dp/1647820715/5. HERO ON A MISSION by Donald MillerBuy It On Amazon ➜ https://www.amazon.com/dp/1400226945/THE TOP 50 BEST BUSINESS BOOKS

Welcome to the latest interesting and informative episode of the Data Gurus podcast. Today, Sima is happy to have Martin Filz, the CEO of Pureprofile, joining her on the show. In this episode, Martin shares his background and career trajectory. He discusses authentic leadership, explains how to form a passionate, engaged, and efficient execution team, and talks about creating a successful business in the market research industry. He also highlights the importance of the panel and dives into how Pureprofile engages and interacts with its panelists.   Martin's background Martin was born in London. He loves insights and data! He first got involved in technology back in the 1980s and 90s, and it was an exciting time for him! He got into research for the first time in the 1990s. It happened when he headed up the European section during the startup of Redshare, a company that tracked the website behavior of users for brands. Right from the get-go, he loved working with consumer insights!   Nielsen Martin also spent some time with Nielsen, integrating their teams across Europe.   Australia Martin has an Australian wife and two daughters, so he moved to Australia in 2008.   Research Now Martin Filz had a friend at Research Now who told him they were looking for someone to head Asia. He spoke to them and got involved with the company. Research Now was an exciting company with great leaders. Martin went from working with behavioral data to working directly with insights and sentiments, which were the things he truly cared about!   Getting headhunted Martin got headhunted from Research Now to work at Lightspeed. Working at Lightspeed was exciting because they changed how insights got gathered. He later left Lightspeed to join Eureka, a company all about big data.   Big data  Big data was another eye-opening discovery for him!   Pureprofile After Covid struck, Martin wanted to be closer to home. Pureprofile did not have a CEO and was a perfect fit, so he joined the company. He helped them create a core strategy around being global, having great technology, and delivering the data, insights, and media campaigns their clients wanted. He also helped them get rid of their mountain of debt, which inspired clients to spend much more with them, partners to sign with them, and team members to get a lot more involved.   Martin's skill Even though many founders and entrepreneurs have brilliant ideas, they still need an executive team to make their ideas a reality. Martin understands that building a great execution team involves giving people the tools they need to flourish and then backing off and letting them get on with what they have to do.   Staying open and excited Martin advises everyone to be hungry to learn and stay open to getting excited and discovering something new throughout their career!   Who needs to use data? Data insights will be helpful for anyone who needs to make a business decision.   The metrics needed for a successful business To have a successful business, you need to have engaged and passionate team members who love their work. You also need to have satisfied customers.   Clients and customers Companies should adopt a personal approach and always put their customers first. Additionally, they should also be flexible with their clients and deliver what they want.   Panelists Panelists should be given what they want and need and we should look at surveys in terms of how they will further the panelists' lives, and panelists should get well rewarded for participating in surveys.   Links: Email me your thoughts! Sima@Infinity-2.com LinkedIn Twitter Pureprofile   Book mentioned: Invent and Wander: The Collected Writings of Jeff Bezos 

หนังสือ Invent and Wander: The Collected Writings of Jeff Bezos ของ Jeff Bezos - หากเราจะเปรียบเทียบประสบการณ์เป็นหนังสือ ประสบการณ์นั้นจะสำคัญอย่างยิ่ง ถ้าหากว่ามันประกอบด้วยการตกผลึกของความเข้าใจประสบการณ์อย่างแท้จริง - ทุกสิ่งเริ่มต้นที่วันแรก ไม่ว่าจะเป็นวันนี้ หรือวันต่อ ๆ ไปก็เป็นวันแรกอยู่เสมอ นั่นจึงจะเป็นสาเหตุที่ว่าเราไม่หยุดที่จะพัฒนาต่อยอดไปได้เลย เพราะทุกวันคือวันแรกเสมอ - ไม่ว่าจะเป็นการทำงานใด ๆ ก็ตามแต่ เราจะต้องตระหนักรู้ถึงผลกำไรอยู่เสมอ กระนั้น การสร้างกระแสเงินสดจึงเป็นสิ่งที่เจ้าของบริษัทคำนึงอยู่ตลอดเวลา - เปรียบเทียบง่าย ๆ ว่า ถ้าเครื่องจักรในโรงงานหนึ่งสามารถมีอายุการใช้งาน 10 ปี แต่แล้วเราไม่สามารถพัฒนาเครื่องจักรนี้ได้อีก เราจะต้องคำนวนดูว่ามันมีจุดคุ้มทุนตรงไหน - ทั้งนี้ หนังสือเล่มนี้ไม่มีอะไรใหม่ มีแต่ความเก่าแต่น่าสนใจ เพราะสิ่งหนึ่งที่สำคัญที่สุดในหนังสือเล่มนี้ คือ ไม่ใช่ใครก็ได้ที่จะสามารถนำไปใช้ตามผู้เขียนได้ทั้งหมด เพราะมันคือจิตวิญญาณที่ส่งผ่านตัวหนังสือ

สำหรับคนทำธุรกิจทุกคน ช่วงเวลาในการวางแผนที่จะเริ่มทำธุรกิจ ถือเป็นช่วงเวลาที่สำคัญที่สุด และในขณะเดียวกัน เมื่อดำเนินการมาแล้ว การได้ทบทวน เพื่อให้เดินหน้าได้ต่อก็ถือเป็นสิ่งสำคัญไม่แพ้กัน โดยเฉพาะเมื่อต้องทำธุรกิจผ่านวิกฤตอย่างโควิด-19 วันนี้จึงอยากชวนทุกคนมาอ่านหนังสือเล่มหนึ่ง ที่เหมาะกับคนทำธุรกิจอย่างยิ่ง กับหนังสือ “Invent and Wander : The Collected Writings of Jeff Bezos” โดยเฉพาะบทที่ชื่อว่า “สามผู้ยิ่งใหญ่” ที่ Jeff Bezos ผู้ก่อตั้ง Amazon ได้บอกเล่าถึงองค์ประกอบของธุรกิจที่จะประสบความสำเร็จ ไปฟังเรื่องราวของสามผู้ยิ่งใหญ่พร้อมกันใน EP.นี้ #missiontothemoon #missiontothemoonpodcast #business

สำหรับคนทำธุรกิจทุกคน ช่วงเวลาในการวางแผนที่จะเริ่มทำธุรกิจ ถือเป็นช่วงเวลาที่สำคัญที่สุด และในขณะเดียวกัน เมื่อดำเนินการมาแล้ว การได้ทบทวน เพื่อให้เดินหน้าได้ต่อก็ถือเป็นสิ่งสำคัญไม่แพ้กัน โดยเฉพาะเมื่อต้องทำธุรกิจผ่านวิกฤตอย่างโควิด-19 วันนี้จึงอยากชวนทุกคนมาอ่านหนังสือเล่มหนึ่ง ที่เหมาะกับคนทำธุรกิจอย่างยิ่ง กับหนังสือ “Invent and Wander : The Collected Writings of Jeff Bezos” โดยเฉพาะบทที่ชื่อว่า “สามผู้ยิ่งใหญ่” ที่ Jeff Bezos ผู้ก่อตั้ง Amazon ได้บอกเล่าถึงองค์ประกอบของธุรกิจที่จะประสบความสำเร็จ ไปฟังเรื่องราวของสามผู้ยิ่งใหญ่พร้อมกันใน EP.นี้ #missiontothemoon #missiontothemoonpodcast #business

สำหรับคนทำธุรกิจทุกคน ช่วงเวลาในการวางแผนที่จะเริ่มทำธุรกิจ ถือเป็นช่วงเวลาที่สำคัญที่สุด และในขณะเดียวกัน เมื่อดำเนินการมาแล้ว การได้ทบทวน เพื่อให้เดินหน้าได้ต่อก็ถือเป็นสิ่งสำคัญไม่แพ้กัน โดยเฉพาะเมื่อต้องทำธุรกิจผ่านวิกฤตอย่างโควิด-19 วันนี้จึงอยากชวนทุกคนมาอ่านหนังสือเล่มหนึ่ง ที่เหมาะกับคนทำธุรกิจอย่างยิ่ง กับหนังสือ “Invent and Wander : The Collected Writings of Jeff Bezos” โดยเฉพาะบทที่ชื่อว่า “สามผู้ยิ่งใหญ่” ที่ Jeff Bezos ผู้ก่อตั้ง Amazon ได้บอกเล่าถึงองค์ประกอบของธุรกิจที่จะประสบความสำเร็จ ไปฟังเรื่องราวของสามผู้ยิ่งใหญ่พร้อมกันใน EP.นี้ #missiontothemoon #missiontothemoonpodcast #business

You know those expressions like, "do more by doing less" and "work smarter not harder"? Bush league. In this episode we reveal the true secret to doing more: doing nothing. To much of the world, it's a bafflingly paradoxical truth. To the Dutch, it's simply called niksen.Articles and Books Mentioned in the Episode:Niksen: Why the Dutch concept of doing nothing is the key to happiness - The TimesHow I learnt the Dutch art of doing nothing - The TimesInvent and Wander: The Collected Writings of Jeff Bezos, with an Introduction by Walter IsaacsonJeff Bezos Says He Makes Time in His Schedule to Do NothingThe Problem With Management by Numbers - The Busyness Paradox

Since our first podcast in the spring of 2019, we've built a wonderful audience around the world, and now have a terrific collection of interviews with remarkable investors.   I have loved the opportunity to host these interviews myself but from the very beginning, I felt that you would benefit from having another voice to challenge the guests and bring a different point of view to the podcast. That time has finally come.   As we start this new season, I couldn't think of a better person to join me as co-host than Michael Mauboussin, Head of Consilient Research at Counterpoint Global. Michael is a colleague, a friend, and someone I admire enormously for his passion and ability to match academic research with the practical considerations of investing.   On our first episode together we're delighted to welcome Chase Sheridan and Will Pan of one of the great names in value investing, Ruane, Cunniff & Goldfarb.    Chase Sheridan joined Ruane, Cunniff & Goldfarb in June 2006 upon his graduation from Columbia Business School. Prior to attending Columbia, Chase was a senior vice president at Citadel Investment Group, a hedge fund based in Chicago and a partner at Q.E.D. Capital, an arbitrage firm based in Chicago. After interning with the firm in 2009, Will Pan was set on a career path with Ruane, Cunniff & Goldfarb. He joined the firm in 2010 after graduating from Harvard College.    On this episode, Chase, Will, Michael, and I discuss Ruane, Cunniff & Goldfarb's history and connection to Warren Buffett, why the Hyperion found was started, the team dynamic between Chase and Will as co-managers of the fund, their approach to idea sourcing and portfolio construction, and so much more!   Key Topics:   The history of Ruane, Cunniff & Goldfarb (RCG) (3:40) Chase's unusual path to RCG (6:37) How Chase became interested in value investing (8:36) Will's journey to RCG (10:18) The core of the RCG investment approach (13:52) Hyperion's maniacal focus on the intrinsic earnings power of a business (15:59) The relationship between RCG and Hyperion (17:26) The main difference between Hyperion and Sequoia (18:15) Why the RCG team considers themselves analysts first (19:45) The founding of Hyperion (21:30) Chase and Will's co-manager dynamic (23:18) Benefits of team management of a fund (25:30) Analyzing your trade ledger and thesis memos (26:52) RCG's writing and research culture (28:25) Hyperion's ideal investment characteristics (30:31) Idea sourcing at Hyperion (32:36) How Hyperion tackles due diligence (35:04) Focusing on intrinsic earnings power (38:56) The art of portfolio construction (41:46) Running scenarios on potential investments (44:05) The problem with portfolio managers emulating their idols (45:11) Understanding roll-ups (47:15) Why the vertical software industry is well-suited to consolidation (49:27) Where Constellation Software focuses on making their return (51:59) Constellation Software's framework for defensive acquisitions (54:15) What you need to know about Constellation Software (56:49) Mark Leonard's unique approach to acquisitions (58:53) An overview of Eurofins (1:01:17) Why consolidation makes sense for the testing industry (1:03:13) Gilles Martin's playbook for acquisitions (1:04:15) Why Hyperion became interested in Eurofins (1:07:42) The advantages of Eurofins having a founder CEO (1:08:56) The importance of leverage to Eurofins' growth (1:10:24) Will's recommended reading (1:12:43) What noise means for investors (1:14:14) Chase's recommended reading (1:15:15) And much more!   Mentioned in this Episode:   Ruane, Cunniff & Goldfarb Constellation Software Eurofins Scientific Daniel Kahneman, Olivier Sibony & Cass R. Sunstein's Book | Noise: A Flaw in Human Judgment Steve Brusatte's Book | The Rise and Fall of the Dinosaurs: A New History of a Lost World Walter Isaacson's Book | The Code Breaker: Jennifer Doudna, Gene Editing, and the Future of the Human Race Jeff Hawkins' Book | A Thousand Brains: A New Theory of Intelligence Edgar Wachenheim's Book | Common Stocks and Common Sense: The Strategies, Analyses, Decisions, and Emotions of a Particularly Successful Value Investor Jordan Ellenberg's Book | How Not to Be Wrong: The Power of Mathematical Thinking Chip Heath & Dan Heath's Book | Switch: How to Change Things When Change Is Hard Jeff Bezos' Book | Invent and Wander: The Collected Writings of Jeff Bezos Mark Leonard's President Letters David Sklansky's Book | Getting the Best of It Bryce Carlson's Book | Blackjack for Blood: The Card-Counters' Bible and Complete Winning Guide Ralph Vince's Book | The Mathematics of Money Management: Risk Analysis Techniques for Traders   Thanks for Listening!   Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at valueinvesting@gsb.columbia.edu.   Follow the Heilbrunn Center on social media on Instagram, LinkedIn, and more!

สภาพจิตใจในช่วงนี้ของแต่ละคนเป็นไงกันบ้าง? ลองแบ่งปันความรู้สึกที่ช่องคอมเมนต์นี้กัน แบ่งปัน 10 หนังสือดีๆ ที่อ่านอยู่ในตอนนี้ 1. The power of ignorance 2. BE THE WORST YOU CAN BE 3. Lifespan แก่ช้า อายุยืน 4. Emotional Agility เท่าทันอารมณ์ก็เข้าใจตนเอง 5. The Talent code คนเก่งมาจากไหน 6. Naked Statistics สถิติฉบับเซ็กซี่ 7. Invent & Wander The Collected Writings of Jeff Bezos 8. Fast Metabolism เบิร์นไวผอมจริง 9. The Obesity Code วิทยาศาสตร์ความอ้วน 10. Coffee Bag Packer กาแฟเดินทาง

In this episode, we talk about learnings from Jeff Bezos' operating style - trying to identify areas where we can apply these learnings to our personal and professional lives. Jeff Bezos, as most of us would know, is the legendary founder-CEO of Amazon.com - possibly the most successful company of the current century. He has recently stepped down from his post of CEO at Amazon to pursue interests - specifically in space exploration with this company Blue Origin. We cover the following themes in our discussion: 1. Clarity - Amazon's famous narrative, 6-pager meetings (No Powerpoint!). 2. Balance - Evaluating multiple decision frameworks simultaneously and using the best ones. Specifically, the Type-1 and Type-2 decision-making process. 3. Conviction, Self-belief & Bezos' famous regret-minimization framework. Our recommendation for the episode: 1. Invent & Wander - The Collected Writings of Jeff Bezos, with an Introduction by Walter Isaacson 2. The Hitchhiker's Guide to the Galaxy - Douglas Adams 3. Carry On - Rainbow Rowell 4. Siddhartha - Herman Hesse 5. Beyond The Last Blue Mountain: A Life Of J. R. D. Tata - R.M. Lala 6. The 50 Best Contemporary Novels Under 200 Pages Happy listening! ---- You can connect with us on Twitter for suggestions, recommendations, & criticisms at: Chaitanya: @ckingalpha Achyut: @a_2510

Shaun Rawls is the Founder and CEO of Rawls Consulting, a progressive, growth-minded organization that invests in people, businesses, and all aspects of residential and commercial real estate. In his book “F-it-less,” Rawls offers new meaning and purpose to the term and mindset, “F-it!” by giving the reader a breakthrough transformational process to take action over giving up or giving in. Rawls spent 25 years working in real estate, ultimately building Atlanta's #1 residential real estate firm, “The Rawls Group of Keller Williams.” Here's What We Cover in This Episode We don't get it right by being right How entrepreneurs struggle with leverage How we have to experience to learn Trust yourself and bet on yourself Your business must have a bigger vision so others are included Avoid living with mediocrity in your business Face the music about your own limitations Shaun's Book Recommendation https://www.amazon.com/gp/product/1948677482/ref=as_li_tl?ie=UTF8&tag=successascent-20&camp=1789&creative=9325&linkCode=as2&creativeASIN=1948677482&linkId=efb27f2fde2a29e3bf98c4ec359d9ada ("F"-It-Less: 18 F-Words to Reframe and Repurpose Your Life by Shaun Rawls) https://www.amazon.com/gp/product/1647820715/ref=as_li_tl?ie=UTF8&tag=successascent-20&camp=1789&creative=9325&linkCode=as2&creativeASIN=1647820715&linkId=e78745c4a6a9a85e6e661269728b150c (Invent and Wander: The Collected Writings of Jeff Bezos, With an Introduction by Walter Isaacson) Connect with Shaun https://www.facebook.com/ShaunRawls (Facebook) https://www.linkedin.com/in/shaun-rawls-85391a9/ (LinkedIn) https://shaunrawls.com/ (Website)

In this video I will talk about the Invent and Wander: The Collected Writings of Jeff Bezos book by Jeff Bezos and Walter Isaacson. This book consist of the share holder letters of Amazon by Jeff Bezos and his other writings. We can learn about the insights of Jeff Bezos, his relentless focus on low price and customer experience. Twitter: https://twitter.com/AttilaonthWorld My Goodreads profile: https://www.goodreads.com/user/show/124834970-attila YouTube video: https://youtu.be/4uNz5F5cvXE

Len, Darlene, and Tess Links Courtyard by Marriott Baked Beans at Bailey's General Store, Sanibel FL Tesla Model 3 Maho Bay Campgrounds, St. John USVI A Shell of a Problem: A Sanibel Island Mystery by Jennifer Lonoff Schiff (first in a series of six) “Why Sanibel Island is the ‘Sea Shell Capital of the World'” by Charity de Souza at Trips to Discover Invent and Wander: The Collected Writings of Jeff Bezos, with an Introduction by Walter Isaacson Mary Bondurant, Sanibel realtor extraordinaire Sanibel Historical Museum & Village Next Week's Guest James McQuiviey, Vice President and Principal Analyst at Forrester Research Morning Journal flash briefing for Alexa If you'd like brief daily updates on technology, books, marriage, and puppies, you can follow along with my Morning Journal flash briefing. From your Echo device, just say, “Alexa, enable Morning Journal.” Then each morning say, “Alexa, what's up?” or “Alexa, what's my flash briefing?” I post a five-minute audio journal each day except Sunday, usually by 7:30 am Eastern Time.  Right-click here and then click "Save Link As..." to download the audio to your computer, phone, or MP3 player.