Founders

What I learned from reading The Dao of Capital: Austrian Investing in a Distorted World by Mark Spitznagel.----Come see a live show with me and Patrick O'Shaughnessy from Invest Like The Best on October 19th in New York City. Get your tickets here! ---Join Founders 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 every Ask Me Anything (AMA) episode immediately-Listen to new Ask Me Anything (AMA) episodes every week ---Klipp's Paradox (0:01)the whole point of my approach to investing is that we must be willing to adopt the indirect route to achieve our goals (14:00)finding his life's work (19:00)if my children will only read one book on economics I would be Economics in One Lesson (25:30)why it is always possible to start new, successful companies (30:00)the point is not to go slow to stay glow. it is to go slow now so you can go faster

What I learned from reading The Goodyear Story: An Inventor's Obsession and The Struggle For A Rubber Monopoly by Richard Korman.----Come see a live show with me and Patrick O'Shaughnessy from Invest Like The Best on October 19th in New York City. Get your tickets here! ---Join Founders 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 every Ask Me Anything (AMA) episode immediately-Listen to new Ask Me Anything (AMA) episodes every week ---An obsessive quest to find the recipe for rubber (0:01)Charles Goodyear epitomized the spirit of the upstart American technologists (6:15)the early life of Goodyear's family (20:10)coming up with the idea for a domestic made only hardware store (29:00)a crushing failure + debtor's prison (35:20)accidentally finding his life's work (38:18)optimism + positive mental attitude (44:30)Patent #3633 (1:03:3

What I learned from reading The Invisible Billionaire: Daniel Ludwig by Jerry Shields.----Come see a live show with me and Patrick O'Shaughnessy from Invest Like The Best on October 19th in New York City. Get your tickets here! ---Join Founders 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 every Ask Me Anything (AMA) episode immediately-Listen to new Ask Me Anything (AMA) episodes every week ---The cameraman was excited and more than a little nervous. In a matter of moments he would enjoy a unique opportunity: the chance to snap the first unposed picture ever taken of the richest man in the world. The strange thing was that most Americans had never even heard of Daniel Keith Ludwig.How could a man in these days of mass media coverage and public obsession with world records, manage to accumulate a $3 billion fortune with hardly anyon

What I learned from reading The Hiltons: The True Story of an American Dynasty by J. Randy Taraborrelli.----Come see a live show with me and Patrick O'Shaughnessy from Invest Like The Best on October 19th in New York City. Get your tickets here! ---Join Founders 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 every Ask Me Anything (AMA) episode immediately-Listen to new Ask Me Anything (AMA) episodes every week ---100 years ago he was a man with $5000 to his name (0:01)the curse of the ambitious/early life + work (6:35)Conrad Hilton is inspired by Helen Keller's optimism (13:00)the first Hilton hotel + more failed businesses (14:45)Conrad at 32 years old /falling back into the Hotel business by accident (25:30)losing it all / The Great Depression (35:00)The Great Depression's effect on his business and marriage (49:00)Conrad's advice

What I learned from reading Henry J. Kaiser: Builder in the Modern American West by Mark Foster. ----Come see a live show with me and Patrick O'Shaughnessy from Invest Like The Best on October 19th in New York City. Get your tickets here! ---Join Founders 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 every Ask Me Anything (AMA) episode immediately-Listen to new Ask Me Anything (AMA) episodes every week ---He built giant businesses in roads, bridges, dams, housing, cement, aluminum, chemicals, steel, health care, and tourism. (0:01) starting a joint venture with Howard Hughes (6:40)learning how not to run a business (12:00)how Kaiser was able to start his own business with no money (18:00)I decided to pick one fellow I wanted most to work for and concentrate on him. (23:15)how Henry Kaiser used passion and enthusiasm to start a const

What I learned from reading The Gambler: How Penniless Dropout Kirk Kerkorian Became the Greatest Deal Maker in Capitalist History by William C. Rempel. ----Come see a live show with me and Patrick O'Shaughnessy from Invest Like The Best on October 19th in New York City. Get your tickets here! ---Join Founders 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 every Ask Me Anything (AMA) episode immediately-Listen to new Ask Me Anything (AMA) episodes every week ---[0:16] He was a humble man privately proud of his accomplishments, a business genius who ignored his MBA advisers, a daring aviator and movie mogul, a gambler at the casino and on Wall Street who played the odds in both houses with uncanny skill.  [4:34] Kirk believed there was no point in placing small bets.  [16:48] He was a day laborer at MGA studios. He made $2.60 a day. T

What I learned from reading Coco Chanel: Her Life, Her Secrets.----Come see a live show with me and Patrick O'Shaughnessy from Invest Like The Best on October 19th in New York City. Get your tickets here! ---Join Founders 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 every Ask Me Anything (AMA) episode immediately-Listen to new Ask Me Anything (AMA) episodes every week ---It is my work I am congratulated on, and to me, that's the only thing that counts (0:01), I've been miserable in a life that from the outside seemed magnificent (4:15), the maxims of Coco Chanel (6:43), Coco on marketing (13:22), Coco's early life (15:15), My need for independence began to develop when I was very young. (18:53), Coco Chanel at 20 (28:15), the beginning of her empire (34:00), I have nothing and I know I can do anything. (37:00), relentlessly resourc

What I learned by from reading The King of Oil: The Secret Lives of Marc Rich by Daniel Ammann.----Come see a live show with me and Patrick O'Shaughnessy from Invest Like The Best on October 19th in New York City. Get your tickets here! ---Join Founders 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 every Ask Me Anything (AMA) episode immediately-Listen to new Ask Me Anything (AMA) episodes every week ---The spot market for oil was one of the most lucrative ideas of the twentieth century. [0:01]the historical events intertwined with the career of Marc Rich [5:15]how his family escapes the Nazi's [12:00]his first jobs + learning from his father + finding his vocation [14:30]learning the commodities business from A to Z [20:00]his work environment was training for entrepreneurship + how he thought about the opportunity in oil [30:30]Ma

What I learned from reading The Autobiography of Benjamin Franklin by Benjamin Franklin. ----Come see a live show with me and Patrick O'Shaughnessy from Invest Like The Best on October 19th in New York City. Get your tickets here! ---Join Founders 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 every Ask Me Anything (AMA) episode immediately-Listen to new Ask Me Anything (AMA) episodes every week ---[0:01] Why Ben Franklin wrote an autobiography[4:50] Ben Franklin's early education and first job [7:30] starting out in the printing business [11:00] Writing had been of great use to me in the course of my life, and was a principal means of my advancement [16:45] his humble arrival in Philadelphia [25:00] Ben Franklin's time in London [29:00] how the mind of Benjamin Franklin worked [34:30] the opportunity to start your his own business[4

What I learned from reading The Box: How the Shipping Container Made the World Smaller and the World Economy Bigger.---Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. ---Such was the beginning of a revolution [0:01]The economic benefits arise not from innovation itself, but from the entrepreneurs who eventually discover ways to put innovations to practical use. [15:30]the basic idea was around for decades [17:30]Malcom's early life and first business [23:00]McLean had an obsessive focus on cutting costs [33:00]the beginning of Malcom McLean's idea [37:00]McLean's definition of total commitment [41:00]McLean's fundamental insight [48:00]fixing the business by focusing on the customer's real problem [53:40]the surprising reason containers are standardized [1:00:00]Daniel K. Ludwig and Malcom McLean [1:07:00]Malcom McLean sells his business [1:13:00]Starting another business [1:21:00]

What I learned from reading The Responsible Company: What We've Learned From Patagonia's First 40 Years by Yvon Chouinard and Vincent Stanley.---Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. ---When I die and go to hell, the devil is going to make me the marketing director for a cola company. I’ll be in charge of trying to sell a product that no one needs, is identical to its competition, and can’t be sold on its merits. (0:01)What Patagonia was meant to be (8:25)Everyone wants to feel useful (11:00)a short history of companies (14:30)the definition of meaningful work (26:00)more human, less corporate (40:30)Yvon's ancestors and their working conditions (46:00)the benefits of long term thinking (49:00)build something useful and don't bullshit (57:00)Don't do things that have no useful purpose / being bold can lead to new discoveries / we need more small businesses (1:04:00)—“I have listened to every episode released and look forward

What I learned from reading Hughes: The Private Diaries, Memos and Letters; The Definitive Biography of the First American Billionaire.---Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. ---He was a film director, a producer, a test pilot, inventor, investor, and entrepreneur [0:01]the start of Hughes Tool Company [13:00]during a gold rush sell pickaxe's / great idea about leasing drill bits [19:00]Howard Hughes Jr is on his own at 18 years old [26:00]starting out in the movie business [32:00]his first plane crash/divorce [38:00]Howard Hughes goes broke [48:00]Howard Hughes breaks the world record for the fastest flight around the world / Hitler was always an asshole [56:00]Henry Kaiser and the birth of The Hercules [1:05:00]his 4th plane crash and descent into madness [1:14:00]Howard Hughe's M.O. on corruption and bribes [1:26:00]I am not really interested in people. I am interested in science. –Howard Hughes [1:29:00]

What I learned from reading Enough: True Measures of Money, Business, and Life by John Bogle ---Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. ---Gentlemen, cut your costs. [4:00]the benefits of being forced to work early on in life [7:00]I'll never forget the inspiration when I read this quote: The force of his mind overcame his every impediment. [9:30]the traits he needed to found Vanguard [12:00] what John thinks we should be doing better [13:30]create things that help other people/Charlie Munger [17:30]When a business fails people want to know their revenue. I want to know their costs [19:30]the past is not a prologue in the financial markets... please, please, please don't count on it. [23:00]Einstein well understood the limits of quantification / the way we act and the way we measure are in conflict [26:00]Show me the incentive and I will show you the outcome. –Charlie Munger / If you get the incentives right when you start the

What I learned from reading Stay the Course: The Story of Vanguard and the Index Revolution.---Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. ---This is a story of a revolution [0:01]what Vanguard does and why? [7:00]the seed of the idea that eventually becomes Vanguard [10:00]switching from conservative investing to speculation / when humans are scared they copy the behavior of those around them [17:00]John gets fired. He decides to fight back. [31:00]if you know why you are doing what you are doing you are less likely to quit [41:00]staying the course gives you a massive advantage because most humans quit [53:00] We must never underrate the power of compounding investment returns, and always avoid the tyranny of compounding investment costs.– John Bogle [59:00]eliminating the 50-year tradition of sales commission [1:01:00]a failure caused by focusing on competition and not learning from the past [1:06:00]the Founders Mentality [1:0

What I learned from reading Nuts!: Southwest Airlines' Crazy Recipe for Business and Personal Success---Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. ---Reality is chaotic; planning is ordered [0:01]Vince Lombardi is the Steve Jobs of coaches [3:48] how Southwest Airlines is different [11:31]the beginning of Southwest [16:00]fighting anticompetitive practice [24:30] finding a new market by doing the opposite of your competition [29:00] missionaries make the best products [31:00]being forced to innovate leads to questioning assumptions which leads to finding new markets [34:00]how Southwest became the largest liquor distributor in Texas [38:00] remember your fundamental reason for being and don't deviate from that [40:45]optimize for profits, not market share [42:30]know what you are competing with - not who [44:15] how having only one type of airplane gives Southwest an advantage [46:30] how keeping it simple saved Southwest $2 mill

What I learned from reading Tycoon's War: How Cornelius Vanderbilt Invaded a Country to Overthrow America's Most Famous Military Adventurer by Stephen Dando-Collins---Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. ---Unlike Vanderbilt's other adversaries William Walker was not afraid of Cornelius when he should have been [0:01]Setting up the war between Cornelius Vanderbilt and William Walker [7:32]William Walker's impressive resume [16:44]Betrayal: "Gentlemen, You have undertaken to cheat me. I won't sue you, for the law is too slow. I'll ruin you." [27:04]Walker takes Vanderbilt's property. Walker thinks the law protects him. Vanderbilt doesn't care about the law [39:27]Garrison's counter move against Cornelius Vanderbilt [44:36]Vanderbilt funds several Central American governments to destroy William Walker [52:51]The power of having a singular focus on a goal but remaining flexible on the tactics to get there [1:02:10]—“I have lis

What I learned by reading The First Tycoon: The Epic Life of Cornelius Vanderbilt by TJ Stiles. ---Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. ---His life spanned from the days of George Washington to John D. Rockefeller [0:01]$1 out of $20 in circulation [4:35]an overview of his life [5:35] the environment Vanderbilt was raised in [14:10] love of competition / dislike of school / first jobs [18:00] action for actions sake [22:00]an entrepreneur from the beginning [23:06] expansion fueled by aggressiveness, action, and constraints [30:00] partnering with the rich and powerful Thomas Gibbons [35:00]the solo founder [46:34]starting up with an eye on getting acquired [50:00] frugality wins [56:20]entrepreneurs vs large companies [1:03:45] more frugality and decentralized company structure [1:12:00] the size of his ambition was difficult for others to comprehend [1:19:25]—“I have listened to every episode released and look forward to

What I learned from reading Who Is Michael Ovitz? by Michael Ovitz. ---Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. ---Those whom the gods wish to destroy they first give a gift [0:01]Michael's first jobs + finding his first love [7:02]the foul-mouthed magnates [19:49]starting at the bottom / being hungry for knowledge [24:50]I don't want to be standard in any way [32:30]the revolt begins and the founding of CAA [36:05]know the history of the industry you are in [46:30]a warning for all entrepreneurs [53:44]what influenced CAA's culture [59:27]becoming the thing you hate [1:02:10]a typical day's schedule [1:07:00]problems with co-founders [1:11:30]the fastest animal on the field [1:15:13]I was tired / The end of Michael Ovitz's time at CAA [1:19:15]Ron is gone [1:25:07]a new beginning / meeting Marc Andreessen [1:32:00]reconciliation [1:38:00]—“I have listened to every episode released and look forward to every episode that comes o

What I learned from reading The Republic of Tea: The Story of the Creation of a Business, as Told Through the Personal Letters of Its Founders.---Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. ---A business is born (0:01)don't start a business unless you are the first customer (22:49)what it is like to fall in love with an idea (25:31)starting a business is like making a movie (27:15)on slowing down (32:32)the problem with being able to argue both sides of an idea (37:00)editing & narrowing your focus (46:51)ideas in the form of action (51:39)history doesn't repeat, human nature does (57:00)the doubts of nascent entrepreneurship (59:51)Steve Jobs had one speed: Go (1:07:39)be the customer, not the seller (1:16:21)Bill finally gets it (1:22:00)—“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 becaus

What I learned from reading Wild Company: The Untold Story of Banana Republic by Mel and Patricia Ziegler---Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. ---For every business, there is an appropriate scale [0:01]Fundamentally Unemployable [5:18]the prehistory of Banana Republic [10:02]"We didn't have any money, we didn't have any technology, and we didn't have a plan." –Jack Ma [14:30]A republic is born [18:13]when something is not selling, increase the price [20:45]relentlessly resourceful [25:45]finding assets hiding in liabilities [28:30]the catalog! [30:33]Eddie Murphy on why you shouldn't have a backup plan [36:40]media was the initial distribution strategy [42:15]Understanding the internet before the internet existed. A lesson on publicity/attention [45:22]when all else fails, expand [51:05]selling the company [56:24]the end of freedom [1:04:40]Misfits, quotes from Steve Jobs and what this has to do with the podcast industry