Founders

#234 Sam Walton: Made In America

What I learned from rereading Sam Walton: Made In America by Sam Walton. ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- [1:56] The Everything Store: Jeff Bezos and the Age of Amazon by Brad Stone. (Founders #179) [5:45] We just got after it and stayed after it. [6:06] Foxes and Hedgehogs [6:39] Hedgehogs may not be as clever as foxes but they obsessively measure and track everything about their business, and over time, they acquire deep, relevant knowledge and expertise. Their single minded approach may appear risky at times but they are conservative by nature. Hedgehogs don’t speculate or make foolish bets. If all their eggs are in that one proverbial basket, they follow Mark Twain’s advice – and watch that basket very carefully. [7:17] The thing with Hedgehogs is that they never give up. They keep at it – and they don’t ever get bored because they just love what they do – and they have a lot of fun along the way. [7:28] Hedgehogs are the ones who build great, lasting companies. As entrepreneurs, they are the rarest of breeds – those who can start something anew, make it work, stick with it, and build something special, and ultimately, inspire others along the way, with their determination, dedication and commitment. [8:49] At first, we amazed ourselves. And before too long, we amazed everybody else too. [9:26] Think about how crazy this is. He died weeks after that writing this. His last days were spent categorizing and organizing his knowledge so future generations can benefit. [12:32] Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger(Founders #90) [12:56] "It's quite interesting to think about Walmart starting from a single store in Arkansas – against Sears, Roebuck with its name, reputation and all of its billions. How does a guy in Bentonville, Arkansas, with no money, blow right by Sears? And he does it in his own lifetime – in fact, during his own late lifetime because he was already pretty old by the time he started out with one little store. He played the chain store game harder and better than anyone else. Walton invented practically nothing. But he copied everything anybody else ever did that was smart – and he did it with more fanaticism. So he just blew right by them all. —Charlie Munger [17:11] What motivates the man is the desire to absolutely be on the top of the heap. [17:32] Practice your craft so much that you're the best in the world at it and the money will take care of itself. [18:44] We exist to provide value to our customers. [21:18] A Conversation with Paul Graham [22:32] It never occurred to me that I might lose; to me, it was almost as if I had a right to win. Thinking like that often seems to turn into sort of a self-fulfilling prophecy. [26:42] Time to Make the Donuts: The Founder of Dunkin Donuts Shares an American Journey by William Rosenberg. (Founders #231) [29:35] It didn’t take me long to start experimenting—that’s just the way I am and always have been. [30:56] Do things that other people are not doing. [33:13] The Founders: The Story of Paypal and the Entrepreneurs Who Shaped Silicon Valley by Jimmy Soni. (Founders #233) [33:41] I think my constant fiddling and meddling with the status quo may have been one of the biggest contributions to the later success of Wal Mart. [34:10] Our money was made by controlling expenses. I gotta read that again because it's so important. Our money was made by controlling expenses. [37:49] Sam Walton: The Inside Story of America's Richest Man (Founders #150) [38:37] I’ve always thought of problems as challenges, and this one wasn’t any different. I didn’t dwell on my disappointment. The challenge at hand was simple enough to figure out: I had to pick myself up and get on with it, do it all over again, only even better this time. [42:47] Four Seasons: The Story of a Business Philosophy by Isadore Sharp. (Founders #184) [45:12] The Autobiography of Andrew Carnegie by Andrew Carnegie (Founders #74) [47:08] Sol Price: Retail Revolutionary & Social Innovator by Robert E. Price. (Founders #107) [49:56] Sam had a really simple hypothesis for the first Wal Mart: We were trying to find out if customers in a town of 6,000 people would come to our kind of a barn and buy the same merchandise strictly because of price. The answer was yes. [52:19] I have always been a Maverick who enjoys shaking things up and creating a little anarchy. [54:23] In business we often find that the winning system goes almost ridiculously far in maximizing and/or minimizing one or a few variables. —Charlie Munger [55:02] He does something really smart here. And this is something I missed the first time I read the book. He finds a way to force himself to know the numbers for every single store. [56:13] Distant Force: A Memoir of the Teledyne Corporation and the Man Who Created It by Dr. George Roberts. (Founders #110) [58:11] Driven From Within by Michael Jordan and Mark Vancil. (Founders #213)  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. —Michael Jordan [58:43] We paid absolutely no attention whatsoever to the way things were supposed to be done, you know, the way the rules of retail said it had to be done. [1:03:15] Estée: A Success Story by Estée Lauder. (Founders #217) [1:04:00] One thing I never did—which I’m really proud of—was to push any of my kids too hard. I knew I was a fairly overactive fellow, and I didn’t expect them to try to be just like me. [1:06:38] I was never in anything for the short haul. [1:10:36] Michael Jordan: The Life by Roland Lazenby. (Founders #212) Like so many NBA players, Drexler was operating mostly off his great store of talent, absent any serious attention to the important details of the game. Jordan had been surprised to learn how lazy many of his Olympic teammates were about practice, how they were deceiving themselves about what the game required. [1:11:56] And you can think about Sam constantly learning from everybody else, visiting stores —that is a form of practice. Every single craft has a form of practice. It just is not as obvious as it is in sports. [1:13:26] He proceeds to extract every piece of information in your possession. [1:15:37]  He has just been a master of taking the best of everything everybody else is doing and adapting it to his own needs. [1:18:52] We were serious operators who were in it for the long haul, that we had a disciplined financial philosophy, and that we had growth on our minds. [1:19:54] Most people seem surprised to learn that I've never done much investing in anything except Walmart. [1:20:42] He's like I just figured out the Walmart's worked. And then all I did was focus on making more of them. You don't have to over-complicate it. [1:23:04] If you ask me if I'm an organized person, I would say flat out, no, not at all. Being organized would really slow me down. (Optimize for flexibility) [1:24:26] The Difference Between God and Larry Ellison: God Doesn't Think He's Larry Ellison by Mike Wilson (Founders #127): My view is different. My view is that there are only a handful of things that are really important, and you devote all your time to those and forget everything else. If you try to do all thousand things, answer all thousand phone calls, you will dilute your efforts in those areas that are really essential [1:26:15]  I think one of Sam's greatest strengths is that he is totally unpredictable. He is always his own person. He is totally independent in his thinking. [1:26:45] If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them. —Bruce Lee [1:28:40] You can’t possibly know the TAM. You are in the middle of inventing the TAM. [1:30:08] There is no speed limit by Derek Sivers [1:31:54] Built From Scratch: How A Couple of Regular Guys Grew The Home Depot from Nothing to $30 Billion (Founders #45) [1:41:35]  I like to keep everybody guessing. I don't want our competitors getting too comfortable with feeling that they can predict what we're going to do next. [1:42:25] He ties that investment int technology with the compounding savings and over the long-term, he's going to destroy his competition just off this one metric alone. [1:43:39] Big Brown: The Untold Story of UPS by Greg Niemann. (Founders #192) [1:47:56] Sam’s 10 Rules for Building A Business [1:48:04] One thing I don’t even have on my list is “work hard.” If you don’t know that already, or you’re not willing to do it, you probably won’t be going far enough to need my list anyway. [1:48:51] Commit to your business. Believe in it more than anybody else. I think I overcame every single one of my personal shortcomings by the sheer passion I brought to my work. [1:50:54] Control your expenses better than your competition. This is where you can always find the competitive advantage. For twenty-five years running—long before Wal-Mart was known as the nation’s largest retailer—we ranked number one in our industry for the lowest ratio of expenses to sales. You can make a lot of different mistakes and still recover if you run an efficient operation. Or you can be brilliant and still go out of business if you’re too inefficient. ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#233 Elon Musk, Peter Thiel, Max Levchin (PayPal)

What I learned from reading The Founders: The Story of PayPal and the Entrepreneurs Who Shaped Silicon Valley by Jimmy Soni. ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- [0:50] Your life will be shaped by the things that you create and the people you make them with. [2:45] A Mind at Play: How Claude Shannon Invented the Information Age (Founders #95)  [3:17] Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future (Founders #1 and #30)  [4:48] It is hard to find a lukewarm opinion about PayPal's founders. [5:29] To skip PayPal's creation is to neglect the most interesting stuff about its founders. It is to miss the defining experiences of their early professional lives —one that defined so much of what came later. [6:39] There's just so many times I put down the book and I'm like, “That is really, really smart, what they just did there.” [6:59] It perfectly captures when they [Musk, Thiel, Sacks, Hoffman, Levchin, Rabois] were just hustlers trying to figure it out. [8:31] For the next several years, the company’s survival was an open question. They were sued, defrauded, copied, mocked— from the outset. PayPal was a startup under siege. Its founders took on multi-billion dollar financial firms, a critical press and skeptical public, hostile regulators, and even foreign fraudsters. [10:14] From Henry Ford’s autobiography: That is why I never employ an expert in full bloom. If ever I wanted to kill opposition by unfair means I would endow the opposition with experts. They would have so much good advice that I could be sure they would do little work. [11:11] Confessions of an Advertising Man by David Ogilvy (Founders #89) Benjamin Franklin: An American Life by Walter Isaacson (Founders #115) Overnight Success: Federal Express and Frederick Smith, Its Renegade Creator by Vance Trimble (Founders #151)  [12:03] A wall in the engineering office had two banners. One was titled The World Domination Index. The World Domination Index was a total count of PayPal's users that day. The other was a banner bearing the words Memento Mori —Latin for remember that you will die. PayPal's oddball team was out to dominate the world, or die trying. [15:37] At PayPal disharmony produced discovery. [16:22] Steve Jobs The Lost Interview Notes [17:36] Properly understood PayPal story is a four year odyssey of near failure followed by near failure. [20:22] He showed early signs of his hallmark intensity. He wanted to be the best at everything he did. [21:08] Tribe Of Mentors: Short Life Advice from the Best in the World by Tim Ferriss  [21:50] Knowledge Project: Marc Andreessen [23:01] What would Shimada do? I understand how this guy thinks. I've studied how he thinks. Now I'm presented with a difficult decision. I'm running it through my own calculus—but to enhance that is like, let me ask what would Shimada do in this situation? That is genius.  [23:47] The Hard Thing About Hard Things: Building a Business When There Are No Easy Answers by Ben Horowitz (Founders #41)  [25:19] Zero to One: Notes on Startups, or How to Build the Future by Peter Thiel (Founders #31) [29:25] Everybody engaged in complicated work needs colleagues. Just the discipline of having to put your thoughts in order with somebody else is a very useful thing. —Charlie Munger [31:14] The Hitchhiker's Guide to the Galaxy by Douglas Adams [32:25] "Surely You're Joking, Mr. Feynman!": Adventures of a Curious Character and "What Do You Care What Other People Think?": Further Adventures of a Curious Characte by Richard Feynman [35:32] He walked into Musk's his bedroom. The room was literally filled with biographies about business luminaries and how they succeeded. Elon was prepping himself and studying to be a famous entrepreneur. [38:32] Musk had learned that startup success wasn't just about dreaming up the right ideas as much as discovering and then rapidly discarding the wrong ones. [39:04] Keep iterating on a loop that says, Am I doing something useful for other people? Because that is what a company is supposed to do. Too much precision in early plans, Musk believed, cut that iterative loop prematurely. [40:10] My mind is always on X, by default, even in my sleep. I am by nature, obsessive compulsive. What matters to me is winning and not in a small way. —Elon Musk [48:20] PayPal prioritized speed on everything over everything else except in one category —recruiting. They would rather staff slowly then compromise on quality. [48:47] Max would keep repeating “As hire As. Bs hire Cs. So the first B you hire takes the whole company down.” [50:52] Do Things That Don’t Scale by Paul Graham  [52:31]  Is there something that you're not working on that could be a more simple version of what you're currently doing? [55:30] Why is that crazy? Because three years later Elon Musk will make $180 million from this broken situation that he's currently finds himself in. [55:48] Return to the Little Kingdom: Steve Jobs and the Creation of Apple by Mike Mortiz (Founders #76) [57:48] Liftoff: Elon Musk and the Desperate Early Days That Launched SpaceX by Eric Berger (Founders #172)  [59:02] There is no speed limit by Derek Sivers [1:03:51] Make your product as easy as email. [1:05:08] Insanely Simple: The Obsession That Drives Apple's Success by Ken Segall (Bonus episode in between #112 and #113) [1:10:19] In Levchin and Thiel, Musk found something he rarely encountered— competitors as driven to win as he was. [1:11:36] “I really liked this Elon guy”, Levchin remembered thinking. “He’s obviously completely crazy, but he's really, really smart. And I really like smart people.” [1:18:23] Oftentimes it's better to just pick a path and do it rather than vacilitate endlessly on the choice. —Elon Musk [1:18:40] Finding the Next Steve Jobs: How to Find, Keep, and Nurture Talent by Nolan Bushnell (Founders #36) [1:19:39] He was going to tame us young whippersnappers with these like seasoned financial executives or whatever. And we're like, uh, these are the same seasoned executives at these banks who can't do jack shit, who can't compete with us. This doesn't make sense. —Elon Musk [1:21:16] The founder may be bizarre and erratic, but this is a creative force and they should run the company. —Elon Musk [1:22:26] Mythical Man-Month, The: Essays on Software Engineering by Frederick Brooks  [1:23:33] Company leaders set a cultural tone of impatience. [1:26:17] Every moment of friction for the customer was fat to be cut. [1:31:00] Give a good idea to a mediocre team, and they will screw it up. Give a mediocre idea to a great team, and they will either fix it or come up with something better. —Ed Catmull in Creativity, Inc.: Overcoming the Unseen Forces That Stand in the Way of True Inspiration (Founders #34)  [1:31:35] Peter Thiel’s tendency to buck convey convention had nothing to do with math or political philosophy. It had to do with people. He didn't give a shit. He cared about smart people who worked hard. [1:37:25] PayPal was a company of extremely aggressive people with a real bias for action. [1:38:24]  You can copy what I'm doing, but I'm only focused on this. While payments is just one part of your gigantic business. [1:40:32] PayPal began this effort as it had begun much else over the prior years with a little planning, quick action, and faith in itself to iterate its way to success. [1:47:25] Just because someone shoots five bullets at you and misses does not preclude the sixth one from killing you. [1:47:33] A great Steve Jobs story [1:51:23] Reid Hoffman forces himself to regularly ask others, "Who is the most eccentric or unorthodox person, you know, and how could I meet them?" [1:52:25] It is hard but fair. I live by those words. —Michael Jordan in his autobiography (Founders #213) [1:52:34] PayPal's earliest employees reserve their highest praise for those who tread the same stony road— founders across varied fields of endeavor. "Those that bring the big ideas into hard, unpredictable reality are the practitioners, the high-leverage ones, and I admire them almost without reservation," Max wrote "One key ingredient of being this kind of person is an almost irrational lack of fear of failure and irrational optimism. —Max Levchin ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#232 Alexander the Great

What I learned from reading 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.  ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- [1:28] Heroes: From Alexander the Great and Julius Caesar to Churchill and de Gaulleby Paul Johnson (Founders #226) [2:16] Each was brave, highly intelligent, almost horrifically self-assured, whose ambitions knew no bounds. [2:46] He was a man of formidable achievements. He was highly creative. He woke up early. His diet was spare. He was skilled with the sword and the spear and an expert at all forms of arms drills. He dressed to be seen. [3:50] He had supernatural self confidence and persistence. There is no substitute for will. [4:26] Churchill by Paul Johnson (Founders #225) [5:50] Addiontal research: Dan Carlin's Hardcore History Addenum Glimpses of Olympias [6:03] The Macedonians were a rugged people. [7:23] Think about this— At 19 years old you think it is your place in history to take revenge on something that happened 150 years previous. That is unapologetically extreme. [9:42] There’s a rule they don’t teach you at Harvard Business School. It is: If anything is worth doing, it’s worth doing to excess.” —Edwin Land [12:11] Alexander had excessive tolerance of fatigue [13:14] Combine an excessive tolerance of fatigue with an intolerance of slowness. [14:06]  Four Seasons: The Story of a Business Philosophy by Isadore Sharp (Founders #184) "Excellence is the capacity to take pain." [14:17] All the things you want in life are on the other side of difficulty and discomfort. [17:12] The River of Doubt: Theodore Roosevelt's Darkest Journey (Founders #175) [21:59] He considered that the task of training and educating his son was too important to be true and trusted to the ordinary run of teachers. [22:14] Knowledge Project: Inside the Mind of A Famous Investor | Marc Andreessen [25:03] Becoming Dr. Seuss: Theodor Geisel and the Making of an American Imagination by Brian Jay Jones (Founders #161)  Mind Your Own Business: A Maverick's Guide to Business, Leadership and Life by Sidney Harman (Founders #229)  Bloomberg by Michael Bloomberg. (Founders #228) [27:40] Learning is nonlinear. [31:38] I meant to say Alexander, not Aristotle. Alexander is the one writing the letter to Aristotle. [33:49] Alexander was a lover of books. [38:55] George Lucas: A Life by Brian Jay Jones (Founders #35) [44:51] Time to Make the Donuts: The Founder of Dunkin Donuts Shares an American Journey by William Rosenberg (Founders #231) [49:16] Big Brown: The Untold Story of UPS by Greg Niemann (Founders #192) [51:24] Fortune generally makes those whom she has compelled to put their trust in her alone more thirsty for glory than capable of coping with it. [54:11] What folly forced you, knowing as you did the fame of my achievements, to try the fortunes of war? [58:05] No trait of Alexander's was more firmly held or enduring than his admiration for genuine excellence and brilliant achievement. [58:30] Winners don't go around leaving negative comments about other people winning. [1:01:59] Stand firm, for it is toil and danger that lead to glorious achievements. ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#231 William Rosenberg (Founder of Dunkin Donuts)

What I learned from reading Time to Make the Donuts: The Founder of Dunkin Donuts Shares an American Journey by William Rosenberg. ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- [5:18] The Founders: The Story of Paypal and the Entrepreneurs Who Shaped Silicon Valley [5:30] A Mind at Play: How Claude Shannon Invented the Information Age (Founders #93) [10:28] When I opened my first Dunkin Donuts store I focused on making the first store a success. Then after I did that I could move on to the second and the third and the fourth, but I gave all my heart and my soul to making that first store a winner. [12:13] From an early age these working experiences taught me that if I put my mind to it and worked hard, I could do whatever I was doing as well or better than most other people. I learned to strive for excellence. [14:05] Odd as it may sound I think one of the best lessons I ever learned from my Dad is what he didn't do properly. He taught me what I never wanted to have happen to my family. [15:02] I decided I wanted to quit school, go to work and help support my family. I knew they desperately needed help. We didn't have enough money to live. [19:25]  I learned an important lesson about sales. You don't sell to people. You get people to buy from you. You say to yourself, if I were in their position why would I want to buy this product? If I was in their position why would it be to my benefit? [19:48] The Man Who Sold America: The Amazing (but True!) Story of Albert D. Lasker and the Creation of the Advertising Century (Founders #206) My Life in Advertising and Scientific Advertising (Founders #170) Ogilvy on Advertising (Founders #82) Confessions of an Advertising Man (Founders #89) [22:58] Total Recall: My Unbelievably True Life Story (Founders #141) [27:00] They were not interested in building a long-term business. They were only interested in a fast buck, buying their wives mink coats, and driving Cadillacs. They did not have the same ideas that I had about building a business. These guys didn't care about gaining respect, about being honest and honorable. I didn't want to be in business with people of that nature. [27:29] Adversity is a great teacher. Little did I know that this downturn of events would catapult me to a higher ground. [30:25] Copy This!: Lessons from a Hyperactive Dyslexic who Turned a Bright Idea Into One of America's Best Companies (Founders #181) [32:18] I came from within inches of quitting that day. [32:43] Not many things are as exciting and satisfying as being part of a business that is succeeding and growing rapidly. There's an atmosphere and a feeling that's tremendous. [41:48] How can you get closer to the customer? And then just keep maintaining that relationship. [42:44] I wasn't content to rest on my laurels. Good enough wasn't good enough for me. I saw that we had a good thing going and I wanted to expand in a big, big way before somebody else did. [43:02] Setting the Table: The Transforming Power of Hospitality in Business(Founders #20) [50:07] Identify your bottleneck and put all your resources into attacking that bottleneck. [51:33] Focus is saying no. —Steve Jobs [53:34] Bloomberg by Bloomberg (Founders #228) [56:39] Keep your foot on the gas and stay close to the customer. [1:00:19] Les Schwab’s autobiography (Founders #105) [1:02:27] I was eager to have Bob takeover. I think this is common in family businesses when a parent hands over the reigns to the child. But the danger is that the parent becomes blind to some of the drawbacks of such an arrangement. This didn't become apparent until later. [1:10:22]  They spent a lot of time in court preparing and fighting legal battles. Instead of building the business. I stuck by my son and his team. My fortune in Dunkin donuts stock went from $30 million to $3 million. [1:13:06] I made many mistakes in my life. I believe one of the biggest mistakes was trying too hard to accommodate my son's desires. ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#230 Lucille Ball (TV's biggest star)

What I learned from reading Love, Lucy by Lucille Ball.  ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- [3:19] Total Recall: My Unbelievably True Life Story by Arnold Schwarzenegger (Founders #141)  [3:28] Arnold: The Education of a Bodybuilder by Arnold Schwarzenegger (Founders #193)  [4:37] Lucille Ball gave me advice about Hollywood. “Just remember, when they say, ‘No,’ you hear ‘Yes,’ and act accordingly. Someone says to you, ‘We can’t do this movie,’ you hug him and say, ‘Thank you for believing in me. [6:21] I like reading about people that do things that they're not supposed to do. [9:45] Create a comprehensive family history. [14:43] People with happy childhoods never overdo; they don't strive or exert themselves. They're moderate, pleasant, well liked, and good citizens. Society needs them. But the tremendous drive and dedication necessary to succeed in any field-not only show business-often seems to be rooted in a disturbed childhood. [19:27] This is a school that teaches acting, telling what is going to wind up being one of the most successful actresses that ever lives, that she can't do it. [20:29] I soon learned that to survive you have to be very strong, very healthy, and damned resilient. Rarely does anyone give you an encouraging word. [20:52] I'd show up early for rehearsals and stay until they had to sweep me off the stage. . .I didn't give up. I wore out my soles trudging to casting offices. [21:08] I can't say that I was discouraged. For some incomprehensible reason, knew that someday I'd make it. [21:15] Remember that there are practically no “overnight" successes. Before that brilliant hit performance came ten, fifteen, sometimes twenty years in the salt mines, sweating it out. [25:08] I was determined to stay in Hollywood. I would do what I could to make sure I'd survive the long haul. [27:34] What would you give to be a star in two years?’’ Lela asked me when I first was getting to know her. “What d’ya mean?’’ "Would you give me every breath you draw for two years? Will you work seven days a week? Will you sacrifice all your social life?" “I certainly will," I promised. "Okay," she said, "let's start. Lela was the first person to see me as a clown with glamour. [28:43] Lela taught us never to see anyone as bigger or more important than ourselves. [30:07] Buster Keaton used to tell me about dozens of Hollywood people who ran into trouble. This was comforting, like reading an autobiography and thinking, “Well, that happened to them, too. I'm not the only one.” [35:51] He soon learned that in striking out on your own, you have to throw out your chest and sell yourself. [42:03] I learned the bitter lesson that directors and producers can make or break an actress. I was a star, but I felt that I couldn't afford to turn down parts for fear of infuriating these bigwigs If I did turn down a script I would be put on suspension, without salary. I couldn't accept an offer from any other studio, no matter how good, yet I could be fired at any time without the bosses showing cause. All the glittering “stars" were at the mercy of the whims of the top people. [45:12] I had a driving, consuming ambition to succeed in show business. [47:23] Founder mentality. Desi and I decided that since nobody else seemed to have faith in us as a team, we’d form our own corporation to promote ourselves. Desilu Productions, Inc., was launched. [48:54] At that time, television was regarded as the enemy by Hollywood. So terrified was Hollywood of this medium, movie people were afraid to make even guest appearances. (As bill gates and Walt Disney learned — go with the phenomenon— not against it) [50:50] Hard Drive: Bill Gates and the Making of the Microsoft Empire by James Wallace and Jim Erickson (Founders #140)  Overdrive: Bill Gates and the Race to Control Cyberspace by James Wallace (Founders #178)  [52:57] To my delight, I discovered that the I Love Lucy show drew from everything I'd learned in the movies, radio, the theater, and vaudeville. ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#229 Sidney Harman (Founder of Harman Kardon)

What I learned from reading Mind Your Own Business: A Maverick's Guide to Business, Leadership and Life by Sidney Harman ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- [3:46] Foxes and Hedgehogs [7:17] The thing with Hedgehogs is that they never give up. They keep at it – and they don’t ever get bored because they just love what they do – and they have a lot of fun along the way. [8:27] In the Company of Giants: Candid Conversations With the Visionaries of the Digital World [9:38] “The essence of commitment is making a decision. The Latin root for decision is to ‘cut away from,’ as in an incision. When you commit to something, you are cutting away all your other possibilities, all your other options”  From the book The Lombardi Rules: 26 Lessons from Vince Lombardi—The World's Greatest Coach [11:16] The New New Thing: A Silicon Valley Story by Michael Lewis [13:12] I regard myself as guardian of the company’s soul. [15:05] Steve Jobs liked to say the Beatles were his management model—four guys who kept each other in check and produced something great. [15:50] Avoid recklessness, encourage daring. [18:08] His main point here is the fact that he started the company in defiance of conventional wisdom [24:08] Bloomberg by Bloomberg [26:16] I believe that refusing to accept business orthodoxy uncritically can open your eyes to opportunity. [34:56] We were free to follow our best instincts. We were free to bring totally new thinking to what we were doing. [38:44] Treat hard work and your smarts respectfully, but recognize that they are neither decisive nor do they guarantee anything. Most of all, I told myself, don’t underestimate determination and persistence, and never quit. [40:25] Becoming Trader Joe: How I Did Business My Way and Still Beat the Big Guys [41:51] I loved building a business. What could be better? The products were wonderful. They employed technology wisely. They made beautiful music. My instinct for marketing—for selling, for emotive advertising—was not only indulged, but rewarded. [43:00] Mavericks do not play well with others. [55:12] It did not require a genius to recognize that I was looking at the future. [58:34] Reducing business matters to their essence, whittling away that which obscures or is unnecessary, has served me well. I admire greatly those who practice the art. [59:48] A company requires an articulated mission, a philosophical base, a moral compass, critical judgment, and the realization that it is a dynamic, living instrument populated by complex human beings. [1:05:05] The best leaders are catalysts who prompt others to reach beyond their most natural abilities to find something they had previously thought beyond their reach. [1:18:03] I have found that by insisting on simple explanations, the mystery disappears and with it most of the nonsense. [1:23:12] It is vital that everyone know what business he is in. [1:28:23] Opportunity can be attacked with enthusiasm. [1:30:01] The person who invests in writing, who exercises the discipline to do it well, and who uses it frequently, will possess a matchless instrument for discovery, clarity, and persuasion. ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#228 Michael Bloomberg

What I learned from reading Bloomberg by Michael Bloomberg.  ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- [2:08] Answering to no one is the ultimate situation. [3:02] Twitter thread on Michael Bloomberg by Neckar.Substack.com [5:28] We never made the error that so many others have: mistaking their product for the device that delivers it. [6:27] We knew our core product was data and analytics. [7:01] We were motivated by an idea that we could build something new that just might make a difference. [9:04] Total Recall: My Unbelievably True Life Story by Arnold Schwarzenegger [10:05] I was willing to do anything that they wanted. I would have never left voluntarily. [16:00] Street smarts and common sense were better predictors of career achievements. [17:40] Almost all occupations have a big selling component: selling your firm, your ideas and yourself. [18:20] It is the doers, the lean and hungry ones, those with ambition in their eyes and fire in their bellies, who go the furthest and achieve the most. [21:36] Comparing John to Bill on leadership, I always thought John was more egalitarian, but less effective. [22:55] It was a lowly start. We slaved in our underwear and an un-air conditioned, a bank vault. [23:57] The General and the Genius: Groves and Oppenheimer - The Unlikely Partnership that Built the Atom Bomb [24:22] Amp It Up: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity by Frank Slootman [27:20] David Geffen biography: The Operator: David Geffen Builds, Buys, and Sells the New Hollywood [30:07] It's said that 80 percent of life is just showing up. I believe that. You can never have complete mastery over your existence. You can't choose the advantages you start out with, and you certainly can't pick your genetic intelligence level. But you can control how hard you work.  [31:20] Life, I've found, works the following way: Daily, you're presented with many small and surprising opportunities. Sometimes you seize one that takes you to the top. Most, though, if valuable at all, take you only a little way. To succeed, you must string together many small incremental advances-rather than count on hitting the lottery jackpot once. Trusting to great luck is a strategy not likely to work for most people. As a practical matter, constantly enhance your skills, put in as many hours as possible, and make tactical plans for the next few steps. Then, based on what actually occurs, look one more move ahead and adjust the plan. Take lots of chances, and make lots of individual, spur-of-the-moment decisions. [32:12] Don't devise a Five-Year Plan or a Great Leap Forward. Central planning didn't work for Stalin or Mao, and it won't work for an entrepreneur either. [34:16] I truly pity people who don't like their jobs. They struggle at work, so unhappily, for ultimately so much less success, and thus develop even more reason to hate their occupations. There's too much delightful stuff to do in this short lifetime not to love getting up on a weekday morning. [38:48] Did I want to risk an embarrassing and costly failure? Absolutely. Happiness for me has always been the thrill of the unknown, trying something that everyone says can't be done, feeling that gnawing pit in my stomach that says danger ahead. I want action. [40:28] Let My People Go Surfing: The Education of a Reluctant Businessman [41:37] I rented a one room temporary office. It was about a hundred square feet of space with a view of an alley, a far cry from my previous place of employment. I deposited  $300,000 of my Salomon Brothers windfall into a corporate checking account. And fifteen years later, I had a billion-dollar business. [45:25] By endurance we conquer. [46:50] Zero to One by Peter Thiel [47:14] Made In Japan: Akio Morita and Sony by Akio Morita [51:19] The Almanack of Naval Ravikant: A Guide to Wealth and Happiness [54:35] Sid Meier's Memoir!: A Life in Computer Games [58:30] Each news story is a product demo. More demos lead to more revenue. More revenue leads to more stories and then even more revenue. [1:03:24] He's got a lot of these like roundabout ways to get in front of potential customers. He’s repurposing the information that his unique business collects. [1:15:53] 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 ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

I read 66 biographies last year— Here are my top 10!

Here are 10 episodes to start with:  #168 Driven: An Autobiography by Larry Miller #171 The Billionaire Who Wasn't: How Chuck Feeney Secretly Made and Gave Away a Fortune #219 Anthony Bourdain: The Definitive Oral Biography #223 Unstoppable: Siggi Wilzig's Astonishing Journey from Auschwitz Survivor and Penniless Immigrant to Wall Street Legend #216 Authentic: A Memoir by the Founder of Vans #212 Michael Jordan: The Life #210 Stephen King On Writing: A Memoir of the Craft #193 Arnold: The Education of a Bodybuilder #185 Ritz & Escoffier: The Hotelier, The Chef, and the Rise of the Leisure Class #170 My Life in Advertising ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#227 The Essays of Warren Buffett

What I learned from reading The Essays of Warren Buffett by Warren Buffett and Lawrence Cunningham. ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- [1:39] Founders #88 Warren Buffett’s shareholder letters — All of them! [2:36] Buffet and Charlie Munger built this sprawling enterprise by investing in businesses with excellent economic characteristics and run by outstanding managers. [5:21] Founders #224  Charles de Gaulle by Julian Jackson [5:41] Books on Henry Singleton: The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success and Distant Force A Memoir of the Teledyne Corporation and the Man Who Created It [7:06] Founders #226 Heroes: From Alexander the Great and Julius Caesar to Churchill and de Gaulle by Paul Johnson [8:03] Founders #34 Creativity, Inc.: Overcoming the Unseen Forces That Stand in the Way of True Inspiration by Ed Catmull [9:19] Give a good idea to a mediocre team, and they will screw it up. Give a mediocre idea to a great team, and they will either fix it or come up with something better. [9:58] Founders #208 In The Company of Giants: Candid Conversations With the Visionaries of the Digital World [11:11] Run your business as if: You own 100% of it It's the only asset that you hold You can’t sell it for 50 years [14:04] Buffett’s essays are sprinkled with historical reference points, especially economic history. He reflects the importance of understanding the past to handle the present and navigate the future. [16:04] A main theme of Buffett: Identify good ideas and then concentrate your resources around them. [16:54] Buffett’ Shareholder Letters on Kindle [23:44] Founders #104 Leading By Design: The IKEA Story  [24:53] Founders #93 and Founders #222 A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market [27:19] Businesses seldom operate in a tranquil, no surprise environment and earnings simply don't advance smoothly. [29:28] Founders #143 Tuxedo Park: A Wall Street Tycoon and the Secret Palace of Science That Changed the Course of World War II Loomis had one important characteristic. His ability to concentrate completely on a chief objective, even at the cost of neglecting matters that appear to other people to be of equal importance. [31:19] The competitive position of each of our business grows either weaker or stronger each day. If we are delighting customers, eliminating unnecessary costs, and improving our products and services, we gained strength. But if we treat customers with indifference or tolerate bloat, our businesses will wither on a daily basis. [33:45] Founders #50 Marc Andreessen’s Blog Archive  [36:07] Business is like nature. It doesn't care if you arrive at the right answer from the wrong reasoning. [42:23] Games are won by players who focus on the playing field, not by those whose eyes are glued to the scoreboard. [47:16] Some part of your business philosophy will not be financial and that's the way it's supposed to be. [50:39] Founders #155 Invent and Wander: The Collected Writings of Jeff Bezos  [58:15] “My whole life has been spent trying to teach people that intense concentration for hour after hour can bring out in people resources they didn’t know they had.” —Edwin Land [1:01:50] Even smart chickens shit on their own feathers. [1:02:16] Loss of focus is what worries Charlie and me the most. [1:04:08] Helpful cheat sheet to use when reading Warren’s shareholder letters [1:06:30] I learned to go into business only with people whom I like, trust, and admire. We have never succeeded in making a good deal with a bad person. [1:10:33] By being so cautious in respect to leverage and having loads of liquidity, we will be equipped both financially and emotionally to play offense while others scramble for survival. [1:18:38] Bull markets can obscure mathematical laws, but they cannot repeal them. [1:19:14] The 3 part series on Andrew Carnegie and Henry Clay Frick Founders #73, 74, and 75 Book links: The Autobiography of Andrew Carnegie, Henry Clay Frick:The Life of the Perfect Capitalist, and Meet You In Hell: Andrew Carnegie, Henry Clay Frick, and the Bitter Partnership That Changed America [1:19:44] Cut the prices, scoop them market, watch the costs and the profits will take care of themselves. [1:21:00] Founders #96 James J. Hill: Empire Builder of The Northwest  [1:24:09] One of Larry Ellison’s favorite maxims was, “The brain’s primary purpose is deception, and the primary person to be deceived is the owner.” Book: The Billionaire and the Mechanic: How Larry Ellison and a Car Mechanic Teamed up to Win Sailing's Greatest Race, the Americas Cup, Twice [1:24:55] There's two ideas that saves us time and effort: 1. If it's not worth doing, it's not worth doing well. 2. If it is worth doing, do it to excess. [1:28:09] An absolute masterclass on how to differentiate your product. Scroll all the way down. It’s appendix B. [1:50:33] If horses had controlled investment decisions, there would have been no auto industry. [1:52:28] If you can't predict what tomorrow will bring, you must be prepared for whatever it does. [1:54:24] Advice from Charlie Munger: You should reserve much time for quiet reading and thinking. [1:54:46] Buffett's decision to limit his activities to a few kinds, and to maximize his attention to them, and to keep doing so for 50 years was a Lollapalooza. ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers." — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#226 Heroes: From Alexander the Great and Julius Caesar to Churchill and de Gaulle

What I learned from reading Heroes: From Alexander the Great and Julius Caesar to Churchill and de Gaulle by Paul Johnson. ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- [0:55] I have always had a soft spot for those who speak out against the conventional wisdom and who are not afraid to speak the truth, even if it puts them in a minority of one. [1:20] 4 traits of heroes: 1. Absolute independence of mind. Think everything through yourself. 2. Act resolutely and consistently. 3. Ignore the media. 4. Act with personal courage at all times regardless of the consequences to yourself. [2:25] Churchill by Paul Johnson [2:47] Intellectuals: From Marx and Tolstoy to Sartre and Chomsky by Paul Johnson and Creators: From Chaucer and Durer to Picasso and Disney by Paul Johnson.  [3:34] Founders #196 Book link: The Splendid and the Vile: A Saga of Churchill, Family, and Defiance During the Blitzby Erik Larson. “It’s slothful not to compress your thoughts.” —Churchill [4:58] They carved out vast empires for themselves and hammered their names into the history of the earth. [5:04] Each was brave, highly intelligent, and almost horrifically self-assured. [6:09] Founders #208 In the Company of Giants: Candid Conversations With the Visionaries of the Digital World  "People are packaged deals. You take the good with the confused. In most cases, strengths and weaknesses are two sides of the same thing." —Steve Jobs [10:22] Alexander the Great read Homer all of his life and knew the passages by heart. It was to him, a Bible, a guide to heroic morality, a book of etiquette and a true adventure story. The Illiad and The Odyssey by Homer.  [11:50] Can't Hurt Me: Master Your Mind and Defy the Odds by David Goggins [12:15] The most important factor, as always with men of action, was sheer will. [15:56] Caesar appreciated the importance of speed and the terrifying surprises speed made possible. [16:15] Founders #155 Invent and Wander: The Collected Writings of Jeff Bezos “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." [18:33] Caesar was a man of colossal energy and farsighted cunning. He aimed to conquer posterity as well as the world. [19:42]  You should avoid an unfamiliar word as a ship avoids a reef. —Julius Caesar [20:55] You train an animal, you teach a person. —Sol Price [23:02] Caesar’s approach to difficulty was all problems are solvable. [24:36] Caesar was a man of exceptional ability over a huge range of activities. Among his qualities: great mental power, energy, steadfastness, a gift for understanding everything under the sun, vitality, and fiery quickness of mind. Few men have had such a combination of boldness shrewdness and wisdom. [26:30] George Washington: A Life by Ron Chernow  [27:14] Founders #191 The Almanack of Naval Ravikant: A Guide to Wealth and Happiness [27:25] George Washington was a vigorous and active man, an early riser about his business all day. And by no means intellectually idle, he accumulated a library of 800 books. [29:57] The best talk on YouTube: Runnin' Down a Dream: How to Succeed and Thrive in a Career You Love  [35:08] His (Washington) strategy was clear, intelligent, absolutely consistent, and maintained with an iron will from start to finish. [36:12] All that counts is survival. The rest is just words. [37:18] A lesson from the history of entrepreneurship: Why you start your company matters. Doesn’t have to be complex. A great example: Phil Knight said he started Nike because he believed if everyone got out and ran a few miles every day the world would be a better place. [42:06] Team of Rivals: The Political Genius of Abraham Lincoln by Doris Kearns Goodwin [45:23] Words and the ability to weave them into webs which cling to the memory are extremely important in forwarding action. [53:01] Founders #200 Against the Odds: An Autobiography by James Dyson: This is part of my anti-brilliance campaign. Very few people can be brilliant. Those who are, rarely do anything worthwhile. You are just as likely to solve a problem by being unconventional and determined as by being brilliant. And if you can't of be unconventional, be obtuse. Be deliberately obtuse, because there are 5 billion people out there thinking in train tracks, and thinking what they have been taught to think. ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers." — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#225 Winston Churchill

What I learned from reading Churchill by Paul Johnson.  ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- [2:09] Churchill never allowed mistakes, disaster, illnesses, unpopularity, and criticism to get him down. [4:19] The Splendid and the Vile: A Saga of Churchill, Family, and Defiance During the Blitz by Erik Larson. (Founders #196) [4:57] He wrote best-selling biographies on Napoleon, Churchill, Eisenhower, Socrates, and Mozart. [6:39] 3 part series on Larry Ellison: Softwar: An Intimate Portrait of Larry Ellison and Oracle (Founders #124), The Billionaire and the Mechanic: How Larry Ellison and a Car Mechanic Teamed up to Win Sailing's Greatest Race, the Americas Cup, Twice (Founders #126), The Difference Between God and Larry Ellison: *God Doesn't Think He's Larry Ellison(Founders #127) [7:40] How to Get Rich: One of the World's Greatest Entrepreneurs Shares His Secrets by Felix Dennis (Founders #129) [8:35] On the importance of belief: I am not asking you to be Winston Churchill. None of us could be. But I do ask that you begin, right now, right at this very moment, to ask yourself whether you believe in yourself. Truly. Do you believe in yourself? Do you? If you do not, and, worse still, if you believe you never can believe, then, by all means, go on reading this book. But take it from me, your only chance of getting rich will come from the lottery or inheritance. If you will not believe in yourself, then why should anyone else? [10:15] How did one man do so much, for so long, and so effectively? [11:29] Reading is not a chore. Reading is theft. It is a robbery. Someone smarter than you has spent 20 years beating their head against the wall trying to solve the problem you're dealing with. You can steal that hard won knowledge and make it yours. That is power. [12:57] Screw It, Let's Do It: Lessons in Life by Richard Branson (Founders #49) [15:27] Long Walk to Freedom: The Autobiography of Nelson Mandela [16:44] My personal email list: My top 10 highlights from Churchill. [21:51] He had accumulated a number of critics and even enemies, and a reputation for being brash, arrogant, presumptuous, disobedient, boastful, and a bounder. [22:22] He thirsted for office, power, and the chance to make history. [27:29] Paul Orfalea The educational system teaches kids they have to be good at everything, or else. Out of the classroom, I've found this just isn't so. Adults have a much easier time. They get to specialize. They pick one thing. It's a whole lot easier. Copy This!: How I Turned Dyslexia, ADHD, and 100 Square Feet into a Company Called Kinko's (Founders #181) [33:34] He is so resourceful and undismayed. [35:00]  It's amazing how much of an advantage simply not giving up can give you. [37:28] Don’t turn your back on he who will not accept defeat. [38:10] Big Brown: The Untold Story of UPS (Founders #192) [41:09] Really it’s a pretty simple philosophy. What you have to do is just draw a line in the dirt, and force the bureaucracy back behind that line. And then know for sure that a year will go by and it will be back across that line, and you’ll have to do the same thing again. —Sam Walton [42:26] Shit happens. Acknowledge it. Learn from it. Forget it. Move on. —Paul Van Duren Authentic: A Memoir by The Founder of Vans (Founders #126)  [44:00] Churchill was again sent to the bottom and had to face the task of wearily climbing the ladder again, for the third time in his life. It was not so easy now he was nearing fifty. [44:35] The World Crisis by Winston Churchill [45:01] No More Champagne: Churchill and His Money by David Lough [45:40] Churchill had his own version of PEDs: In those days, Churchill often took several whiffs of pure oxygen to lift him before a bout of oratory, and he traveled up with two canisters. [47:14] He called for a premium on effort and a penalty on inertia. [50:30] You have to work yourself into a position where you can trust your own judgment. That's all you have in life. [52:28] Never underestimate your opponent. All downside, no upside. [1:02:49] From Shoe Dog: I looked down the table. Everyone was sinking, slumping forward. I looked at Johnson. He was staring at the papers before him, and there was something in his handsome face, some quality I'd never seen there before. Surrender. Like everyone else in the room, he was giving up. The nation's economy was in the tank, a recession was under way. Gas lines, political gridlock, rising unemployment, Nixon being Nixon-Vietnam. It seemed like the end times. Everyone in the room had already been worrying about how they were going to make the rent, pay the light bill. Now this. I cleared my throat. "So...in other words," I said. I cleared my throat again, pushed aside my yellow legal pad. "What I'm trying to say is, we’ve got them right where we want them." [1:08:52] We shall never surrender. [1:10:00] Identify your most valuable asset and go all in: What’s going to win this war? Airpower. [1:13:10] From Estee Lauder's autobiography: No community was too small for my attention, my absolutely full efforts. I had ridden, for instance, on a bus for six hours to open a small store in Corpus Christi, Texas. The store's clientele was modest in size and economics. No matter. [1:15:22] From Personal History: In one exchange between us, I had deplored the fact that we had the bad luck to live in a world with Hitler, to which Phil responded, “I don’t know. Maybe it’s a privilege to have to fight the biggest son of a bitch in history.” [1:16:24] Churchill had an uncanny gift for getting priorities right. [1:16:40] He is an apostle of the offensive. [1:20:05] Words are the only things that last forever. [1:20:23] The Second World War by Winston Churchill [1:21:40] Never flinch, never wary, never despair. ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#224 Charles de Gaulle

What I learned from reading Charles de Gaulle by Julian Jackson.  ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- [6:45] The Winston Churchill episode is #196 based on the book The Splendid and The Vile [7:07] Don’t turn your back on he who will not accept defeat. [7:54] The greatest founders in history have identified a series of ideas that are extremely important to them and they repeat these ideas over and over again. Repetition is persuasive. [12:24] De Gaulle was a voice before he was a face. [16:45] Whatever happens the flame of the French resistance must not be extinguished, and it will not be extinguished. [19:15] De Gaulle spoke about the army the way Enzo Ferrari spoke of his cars. Founders #97 Go Like Hell: Ford, Ferrari, and Their Battle for Speed and Glory at Le Mans [23:30] Nothing dented his belief in victory. [23:38] The victor is the one that wants victory most energetically. [32:17] “Henry Singleton always tries to work out the best moves and maybe he doesn't like to talk too much because when you're playing a game, you don't tell anyone else what your strategy is.” —Claude Shannon [32:51] A country (or a person, or a company) is defeated only when it has lost the will to fight. [36:19] Excellence is the capacity to take pain. [42:13] To be passive is to be defeated. [48:18] Leadership is a solitary exersize of the will. [53:23] “I don't want any messages saying 'I'm holding my position.' We're not holding a goddamned thing. We're advancing constantly and we're not interested in holding anything except the enemy's balls. We're going to hold him by his balls and we're going to kick him in the ass. We are going to kick the living shit out of him all the time. Our plan of operation is to advance and keep on advancing.” —General Patton [53:45] That central is completely opposite of what the French* generals thought. [54:34] Founders #208 In The Company of Giants [59:15] The history of entrepreneurship is extremely clear about the need to be able to concentrate. [1:00:38] All that matters is to survive. The rest is just words. [1:04:55] He pushed himself to the limits and he expected the same from his men. [1:05:53] All those who have done something valuable and durable have done so alone and in silence. [1:07:07] Beyond Possible: One Man, Fourteen Peaks, and the Mountaineering Achievement of a Lifetime by Nims Purja [1:14:31] What everyone seems to ignore is the incredible mixture of patience, of obstinate creativity, the dizzying succession of calculations, negotiations, conflicts, that we had to undertake in order to accomplish our enterprise. [1:15:19] He really believed that giving up was treason. That you deserved death for giving up. [1:20:12] Fortune cannot always be favorable to us. [1:23:01]  It was from this moment in his memoirs that DeGaulle starts to talk of himself in the third person. De Gaulle appears as a figure whom the narrator of the memoir watches. [1:27:55] No question or discussion, we must go forward. Whoever stands still, falls behind. [1:30:05] I have only one aim: to deliver France. [1:41:10] The effective formula De Gaulle used was 1. Ruthlessness. 2. Brilliance. 3. Total clarity about what he wanted to achieve. [1:45:36] Paris! Paris outraged! Paris broken! Paris martyred! But Paris liberated! Liberated by itself, liberated by its people with the help of the French armies, with the support and the help of all France, of the France that fights, of the only France, of the real France, of the eternal France! ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#223 Unstoppable: Siggi Wilzig's Astonishing Journey from Auschwitz Survivor and Penniless Immigrant to Wall Street Legend

What I learned from reading Unstoppable: Siggi Wilzig's Astonishing Journey from Auschwitz Survivor and Penniless Immigrant to Wall Street Legend by Joshua M. Greene. ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- Never give up. Only death is permanent. Everything else can be fixed.I couldn't take such talk about not coming out alive. I didn't want to hear it. Whenever my mind told me I was not going to survive, the Almighty told me to keep going. So I stayed away from the others.Because I could outwit the guards, I always felt superior to them. I hated them. I hated their brutality, their inhuman behavior. I felt stronger, more intelligent, and I had confidence in myself from childhood. So even though they had the guns and did all the killing, I felt superior. It was obviously a touch of arrogance, and some of it was justified and some not justified, but even in that totally hopeless condition I looked down on all of them.It was clear that Americans were alive in every sense, moving purposefully toward some vision of tomorrow. He liked that. He would do that, too: grasp opportunities and not allow the darkness of the past to rob him of a bright future.Even smart chickens shit on their own feathers!When Naomi found out her husband was purchasing shares of Wilshire on a regular basis, she chided him. "More stock? We can barely pay the bills and you're buying more stock?" Siggi made excuses, but he didn't stop buying. "I didn't see how this was going to change our life," Naomi said, remembering other stocks her husband had bought and other career moves he had made. "But that's how it turned out."You are looking at a man who had the foxlike instincts to survive history's darkest hour, a man who has no fear of adversity and who cannot be intimidated by overwhelming odds.Siggi had grown his bank from $180 million in assets to more than $4 billion.Siggi was the first person in history to sue the Federal Reserve.He's just happy to be alive. People thought he was nuts and laughed at him, but he didn't care.Less than a year after his death, his estate was worth hundreds of millions of dollars. “Not bad," as Siggi once said, "for a short, bowlegged Jew with flat feet who never graduated kindergarten and started with only $240 in his pocket." ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#222 Ed Thorp (My personal blueprint)

What I learned from rereading A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market by Ed Thorp.  ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- 1. The book reveals a thorough, rigorous, methodical person in search of life, knowledge, financial security, and, not least of all, fun. 2. I learned at an early age to teach myself. This paid off later on because there weren’t any courses in how to beat blackjack, build a computer for roulette, or launch a market-neutral hedge fund.3. Even though the Goliath I was challenging had always won, I knew something no one else did: He was nearsighted, clumsy, slow, and stupid, and we were going to fight on my terms, not his.4. I admired the heroes who, through extraordinary abilities and resourcefulness, achieved great things. I may have been inspired to mirror this in the future by using my mind to overcome intellectual obstacles.5. Rather than subscribing to widely accepted views—such as you can’t beat the casinos—I checked for myself. 6. What matters in life is how you spend your time.7.  Life is like reading a novel or running a marathon. It’s not so much about reaching a goal but rather about the journey itself and the experiences along the way. As Benjamin Franklin famously said, “Time is the stuff life is made of,” and how you spend it makes all the difference.8. I also believed then, as I do now after more than fifty years as a money manager, that the surest way to get rich is to play only those gambling games or make those investments where I have an edge.9. Since much of what we were doing was being invented as we went along, and our investment approach was new, I had to teach a unique set of skills. I chose young smart people just out of university because they were not set in their ways from previous jobs. Better to teach a young athlete who comes fresh to his sport than to retrain one who has learned bad form.10. Whatever you do, enjoy your life and the people who share it with you, and leave something good of yourself for the generations to follow. ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#221 Charlie Munger

What I learned from reading Damn Right: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger by Janet Lowe. ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- [16:02] I had a considerable passion to get rich. Not because I wanted Ferraris—I wanted the independence. I desperately wanted it. [26:49] I met the towering intellectuals in books, not in the classroom, which is natural. My family was into all that stuff, getting ahead through discipline, knowledge, and self-control. [37:44] He talked about business in a way that was animated and interesting though now I see he was almost broke. I knew he drove an awful car. But I never thought he was anything but a big success. Why did I think that? He just had this air-everything he did was going to be first class, going to be great. He had these enthusiasms for his projects and his future. [38:48] Charlie drummed in the notion that a person should always "Do the best that you can do. Never tell a lie. If you say you're going to do it, get it done. Nobody gives a shit about an excuse. Leave for the meeting early, Don't be late, but if you are late, don't bother giving people excuses. Just apologize. They're due the apology, but they're not interested in an excuse.” [42:22] The rabbit runs faster than the fox, because the rabbit is running for his life while the fox is only running for his dinner.[49:15] He wouldn't accept anything on face value. His interest in almost everything can be so intense, he will have a perspective that others will not have. [49:29] Do things that other people aren't doing. [1:07:55] I am a biography nut myself and I think when you're trying to teach the great concepts that work, it helps to tie them into the lives and personalities of the people who developed them. I think that you learn economics better if you make Adam Smith your friend. That sounds funny, making friends among the eminent dead, but if you go through life making friends with the emìnent dead who had the right ideas, I thìnk it will work better in life and work better in education. It's way better than just giving the basic concepts.[1:15:15] It is Charlie's philosophy that a first-rate man should be willing to take at least some difficult jobs with a high chance of failure.[1:21:28] Though few companies last forever, all of them should be built to last a long time, says Munger. The approach to corporate control should be  thought of as "financial engineering." Just as bridges and airplanes are constructed with a series of back-up systems and redundancies to meet extreme stresses, so too should corporations be built to withstand the pressures from competition, recessions, oil shocks, or other calamities. Excess leverage, or debt, makes the corporation especially vulnerable to such storms. It is a crime in to build a weak bridge. How much nobler is it to build a weak company? ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#220 Enzo Ferrari: The Man and the Machine

What I learned from reading Enzo Ferrari: The Man and the Machine by Brock Yates. ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- [0:01] Editorial writers around the world groped for words to express what Enzo Ferrari had meant. Many tried to describe him as an automotive pioneer, which he was not; others called him a great racing driver and engineer, which he was not. He was, however, exactly what he had repeatedly said he was: an agitator of men. And he remained true to his credo to the day he died. [0:43] If there was one essential quality about the man it was his ironbound tenacity, his fierce devotion to the single cause of winning automobile races with cars bearing his name. For nearly sixty years, hardly a day passed when this thought was not foremost in his mind. Win or lose, he unfailingly answered the bell. In that sense his devotion to his own self-described mission was without precedent. For that alone he towered over his peers.[44:26] Enzo Ferrari was a man with a diamond-hard will to win at all costs.[45:08] If they were to survive, it would be thanks to their wits and their ability to play the ancient game of life. Few men understood this game better than Ferrari. [48:49] Enzo Ferrari was born with simple tastes, and even after he became rich and prominent, he retained the ways of a simple, uncluttered man. During the 1930s, when every ounce of his energies and every lira in his pocket were being plowed back into the business, he lived a modest, frugal life. [1:05:50] It is often said that his greatest skill was his ability to recognize talent. [1:06:13] Ferrari appeared to be happier when he was losing, which jibes with mechanics' observations that the race shop on Monday was more serene following a defeat than a victory. But why? Was not winning the central object of the exercise? Ferrari explained: “There is always something to learn. One never stops learning. Particularly when one is losing. When one loses one knows what has to be done. When one wins one is never sure.”[1:08:08] The source of much of Ferrari's success over the years was not technological brilliance or tactical cleverness, but dogged, gritty, unfailing persistence in competing—a willingness to appear at the line no matter what the odds and run as hard as possible. [1:15:44] Those who knew him best understood that Enzo Ferrari would never retire. There was little else in his life besides automobile racing. It was that simple.[1:19:34] His view of racing remained constant; the event itself was essentially meaningless. For him the stimulation came in the planning and preparation, in the creation of the machines, in the  organization of the human beings who would man the team.---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast  ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#219 Tony Bourdain: The Definitive Biography

What I learned from reading Bourdain: The Definitive Oral Biography by Laurie Woolever. ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- [28:32] All the energy he'd put into trying to destroy himself, he put that into building himself back up. All that negative energy became something else. He became so serious, and so driven and focused. He worked really hard. It takes a lot of determination to wake up early in the morning and write, and then go to a job in the kitchen, and come home at god knows what hour, and get up the next morning and do it again. He was a fiend. One time, he said about his disciplined writing regimen, "Such was my lust to see my name in print." He threw himself into his work in a manner that I found astonishing. [41:17] He gave me really good advice: "Stay public. You gotta promote, promote, promote, or it all dies. You just gotta be out there all the time." Tony embraced that.[56:17] He proceeded to tell everyone to ignore the network. He said, "Completely ignore everything they're saying about music, about story, about shots. Let me deal with it all. I'm gonna make the show I want to make, across all fronts.” I had already been editing for ten years, and this was the first time I'd heard anything like this. Everyone is always just trying to make the network happy. [1:01:51] The line between Tony and the show was very thin, if it existed at all. [1:07:07] This life isn't a greenroom for something else. He went for it. [1:20:50] He demanded excellence, and he never settled for shit. He just wanted the show to be the greatest thing ever, all the time.[1:22:48] It was his life's work, and he never slacked.[1:34:56] Tony gorged himself on being alive.[1:46:13] The world is not better off with him not here. It's just not.[1:45:46] I liked him better when he was just kind of living his best life and looking in the rearview mirror like he stole something. This beautiful life that he had, something people would dream of, and no one else could do it but him. A "slit my wrist" love story is just the shittiest ending to it all. ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#218 Johan Cruyff (A Life of Total Football)

What I learned from reading My Turn: A Life of Total Football by Johan Cruyff. ---- 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.  ---- [0:01] I always say you play football with your head; you just use your legs to run. [1:09] I'm not capable of doing something at a low level. [8:45] I'm definitely cunning. I'm always on the lookout for the best advantage. [13:16] To be able to touch the ball perfectly once, you need to have touched it a hundred thousand times in training.[14:00] My father died in 1959, when he was forty-five and I was twelve. His death has never let go of me. [21:07] Winning was the consequence of the process that we had concentrated on.[45:30] It doesn't work without full commitment. [55:17] The experiences I have been through have given me a vast store of knowledge that needs to be shared so that others can profit from my experiences. [56:09] I've led a full life and can look back on it the way you're supposed to. It's been so incredibly intense that I feel like I've lived for a hundred years.[56:21] A setback is probably a sign that you need to make some adjustments. If you learn to think that way, all experiences are translated into something positive. ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#217 Estée Lauder

What I learned from rereading Estée Lauder: A Success Story by Estée Lauder.  Watch Runnin' Down a Dream: How to Succeed and Thrive in a Career You Love by Bill Gurley. ---- 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.  ----[21:14] I sometimes wonder if I had set my heart on selling tassels, cars, furniture, or anything else but beauty, would I have risen to the top of a profession? Somehow I doubt it. I believed in my product. I loved my product. [32:07] Risk taking is the cornerstone of empires. No one ever became a success without taking chances.[39:24] I was single-minded in the pursuit of my dream.[44:38] Despite all the naysayers, there was never a single moment when I considered giving up. That was simply not a viable alternative.[55:59] We took the money we had planned to use on advertising and invested it instead in enough material to give away large quantities of our products. [1:02:20] Never underestimate the value of an ally. Today they call it networking—this sharing between colleagues. It is one of the most powerful tools in the business. [1:12:22] It's not enough to have the most wonderful product in the world. You must be able to sell it.[1:15:03] Love your career or else find another. [1:19:05] Visualize. If in your mind's eye you see a successful venture, a deal made, a profit accomplished, it has a superb chance of actually happening. Projecting your mind into a successful situation is the most powerful means to achieve goals. If you spend time with pictures of failure in your mind, you will orchestrate failure. Countless times, before the event, I have pictured a heroic sale to a large department store every step of the  way and the picture in my mind became a reality. I've visualized success, then created the reality from the image. Great athletes, business people, inventors, and achievers from all walks of life seem to know this secret.[1:21:34] I've always believed that if you stick to a thought and carefully avoid distraction along the way, you can fulfill a dream. I kept my eye on the target. I've never allowed my eye to leave the particular target of the moment.  ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#216 Paul Van Doren (Founder of Vans)

What I learned from reading Authentic: A Memoir by the Founder of Vans by Paul Van Doren.  ---- 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.  ---- The way we deal with hardship is our legacy. You can accept defeat, or you can overcome it.Quitting Randy's had probably been the biggest stroke of luck in my life. Opportunity is a strange beast.Whenever a situation went sideways and things looked dire, I always called up my one superpower: focus.I believe honest self-evaluation and the ability to listen to others has been one of my greatest strengths, one that has served me well over the years. If someone had a better idea than mine, of course I would adopt that. I really didn’t care if I didn’t get credit. I didn’t need credit; I needed success.The very best thing that occurred during that first decade of Vans was that we truly became a family business. Without exception, family has always been the most important thing in my life.Most of the kids in the early skater crews came from single-parent households, from the wrong side of the tracks. They were idiosyncratic, creative, independent—they were seen as the “freaks” of the sport. In so many ways, they were our people.If you do something no one else can do, or do something better than most, the odds are in your favor for success.Shit happens—it really does. Letting yourself get stuck in it doesn’t do any good. Acknowledge it and then move on. Don’t let it weigh you down—just cope. Tackling things in a positive way will help you succeed more often than not. Shit happens: these two words fully acknowledge the difficulties in life, but you can put them firmly in the rearview mirror, without letting them mess with your head or your path in life.To me, the more critical the situation, the better I’ll perform. I don’t create clutch situations just to feel the rush—I’d prefer to eliminate risk than encourage it—but I for one have always found defeat intoxicating, especially when it's someone else's. And when it's mine, I can’t say it's ever done anything but make me think smarter and behave differently, even courageously. Hell, it's only after I lost something or when something didn’t go my way that I was afforded the opportunity to shine.I’ve learned that what makes a successful entrepreneur is the same thing that makes a good skateboarder or good surfer: you need grit and determination to get back up every time you’re knocked off the board. ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#215: J. Robert Oppenheimer and Leslie Groves (The General and the Genius)

What I learned from reading The General and the Genius: Groves and Oppenheimer—The Unlikely Partnership that Built the Atom Bomb by James Kunetka.  ---- 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.  ---- It is clear that nothing short of a full-speed, all-out attempt would be worthwhile.Once Leslie Groves accepted his new assignment, he embraced it completely. From his appointment in September 1942 until the end of the war, he worked at full speed, often fourteen hours a day or more. His remarkable energy and stamina frequently exhausted those who worked and traveled with him.Groves's style was to delegate whatever he could and then put the screws to the delegees. He was a taskmaster.The instructions to the project were that any individual in the project who felt that the ultimate completion was going to be delayed by as much as a day by something that was happening, it was his duty to report it direct to me. Urgency was on us right from the start.When Marshall asked him if he ever praised anyone for a job well done, Groves said no. "I don't believe in it. No matter how well something is being done, it can always be done better and faster.”Oppenheimer insisted that Los Alamos should have one director. He had learned enough about management from studying Groves to believe that while consensus was important, an organization needed a single leader.The dual approaches reflected Groves's belief in pursuing multiple solutions to a problem until the problem is solved. In a frank assessment of his boss after the war, he called him, "the biggest S.O.B. I have ever worked for. He is the most demanding. He is the most critical. He is always a driver, never a praiser. He is abrasive and sarcastic. He disregards all normal organizational channels. He is extremely intelligent. He has the guts to make timely, difficult decisions. He is the most egotistical man I know. He knows he is right and so sticks by his decision. He abounds with energy and expects everyone to work as hard or even harder than he does. If I had to do my part of the atomic bomb project over again and had the privilege of picking my boss I would pick General Groves."Groves had a reputation for competence. He was demanding, rough, and sometimes brutal with his staff, intolerant of delay and mental slowness. On the other hand, he never swore, rarely lost his temper, and never raised his voice. He was also prepared to let subordinates disagree if their arguments were sound. He disliked people who groveled.Groves remained unflappable, accepting the unanticipated as normal. ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#214 Steve Jobs: The Exclusive Biography

What I learned from rereading Steve Jobs: The Exclusive Biography by Walter Isaacson.  ---- 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.  ---- 1. He had the attitude that he could do anything, and therefore so can you.2. He refused to accept automatically received truths, and he wanted to examine everything himself.3. Picasso had a saying—‘good artists copy, great artists steal’—and we have always been shameless about stealing great ideas.4. Remembering that I’ll be dead soon is the most important tool I’ve ever encountered to help me make the big choices in life. Because almost everything—all external expectations, all pride, all fear of embarrassment or failure—these things just fall away in the face of death, leaving only what is truly important. Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart.5. The way we're running the company, the product design, the advertising, it all comes down to this: Let's make it simple. Really simple.6. Jobs’s intensity was also evident in his ability to focus. He would set priorities, aim his laser attention on them, and filter out distractions.7. The thing that struck me was his intensity. Whatever he was interested in he would generally carry to an irrational extreme.8. One of Jobs's talents was spotting markets that were filled with second-rate products.9. Here's to the crazy ones. The misfits. The rebels. The troublemakers. The round pegs in the square holes. The ones who see things differently. They're not fond of rules. And they have no respect for the status quo. You can quote them, disagree with them, glorify or vilify them. About the only thing you can't do is ignore them. Because they change things. They push the human race forward. And while some may see them as crazy ones, we see genius. Because the people who are crazy enough to think they can change the world are the ones who do.10. His mind was never a captive of reality. He possessed an epic sense of possibility. He looked at things from the standpoint of perfection. ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#213 Michael Jordan: Driven From Within

What I learned from reading Driven From Within by Michael Jordan and Mark Vancil.  ---- 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.  ---- [4:55] Players who practice hard when no one is paying attention play well when everyone is watching.[9:47] It's hard, but it's fair. I live by those words. [12:49] To this day, I don't enjoy working. I enjoy playing, and figuring out how to connect playing with business. To me, that's my niche. People talk about my work ethic as a player, but they don't understand. What appeared to be hard work to others was simply playing for me. [24:00] You have to be uncompromised in your level of commitment to whatever you are doing, or it can disappear as fast as it appeared. [24:26] 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. [37:01] I knew going against the grain was just part of the process. [53:20] The mind will play tricks on you. The mind was telling you that you couldn't go any further. The mind was telling you how much it hurt. The mind was telling you these things to keep you from reaching your goal. But you have to see past that, turn it all off if you are going to get where you want to be.[57:41] I would wake up in the morning thinking: How am I going to attack today?[1:06:04] 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.[1:06:22] In all honesty, I don't know what's ahead. If you ask me what I'm going to do in five years, I can't tell you. This moment? Now that's a different story. I know what I'm doing moment to moment, but I have no idea what's ahead. I'm so connected to this moment that I don't make assumptions about what might come next, because I don't want to lose touch with the present. Once you make assumptions about something that might happen, or might not happen, you start limiting the potential outcomes.  ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#212 Michael Jordan: The Life

What I learned from reading Michael Jordan: The Life by Roland Lazenby. ---- 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.  ---- [5:07] His competence was exceeded only by his confidence.[5:58] He worked at the game, and if he wasn't good at something, he had the motivation to be the best at it. [6:33] It seemed that he discovered the secret quite early in his competitive life: the more pressure he heaped on himself, the greater his ability to rise to the occasion. [14:06] At each step along his path, others would express amazement at how hard he competed. At every level, he was driven as if he were pursuing something that others couldn't see.[16:10] Whenever I was working out and got tired and figured I ought to stop, I'd close my eyes and see that list in the locker room without my name on it, and that got me going again. [19:29] Jordan could sense immediately that he had something the others didn't. [59:53] The Jordan Rules succeeded against the Bulls so well that they became textbook for guarding athletic scorers. The scheme helped Detroit win two NBA championships, but it also helped in the long run, by forcing Jordan to find an answer. "I think that 'Jordan Rules' defense, as much as anything else, played a part in the making of Michael Jordan," Tex Winter said. [1:16:35] Jordan had been surprised to learn how lazy many of his Olympic teammates were about practice, how they were deceiving themselves about what the game required. [1:19:56] I have always liked practice and I hate to miss it. When you miss that one day, you feel like you missed a lot. You take extra work to make up for that one day. I've always been a practice player. I believe in it.[1:29:47] Jordan presented a singleness of purpose that was hard to dent. ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#211 Aristotle Onassis: An Extravagant Life

What I learned from reading Onassis: An Extravagant Life by Frank Brady.  ---- 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.  ---- He became one of the richest men in U.S. history ever to be arrested.The epic life of Aristotle Onassis is as mysterious as a tale from ancient Greek mythology and is a study of paradoxes, altogether gripping because of their seeming inconsistencies.Onassis had long since begun to formulate a personal business philosophy. The key to success was boldness, boldness, and more boldness.He was constantly visiting and inspecting ships, talking to ship owners and other importers and quietly absorbing everything, making a very conscious attempt to learn as much as he could before going into ship-owning seriously.He was quite observant about what, to others, were trifles but, to him, were important details. He often quoted Napoleon: “The pursuit of detail is the religion of success.”Onassis was a man of the pier, but with the cocksureness of a king.She simply never knew anyone quite as free or exotic as Aristotle Onassis, a paradoxical blend of raconteur and ruffian.Onassis was a born orator. He could keep a dinner party of some of the world's most sophisticated conversationalists spellbound.Onassis spent almost all of his time working. He would pore over shipping journals from Antwerp, Vancouver, Hamburg, and New York, looking for intelligence, trends, and opportunities. He would scan, study and memorize tonnage, prices, insurance rates and schedules of the world's great and small steamship companies and then attempt to outbid his competitors. He read the maritime sections of at least six foreign language daily newspapers each day.And I, of course, will do exactly as I please. ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#210 Stephen King On Writing: A Memoir of the Craft

What I learned from reading Stephen King On Writing: A Memoir of the Craft by Stephen King.  ---- 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.  ---- My earliest memory is of imagining I was someone else.By the time I was fourteen the nail in wall would no longer support the weight of the rejection slips impaled upon it. I replaced the nail with a spike and went on writing.I think I was forty before I realized that almost every writer who has ever published a line has been accused by someone of wasting his or her God-given talent. If you write (or paint or dance or sculpt or sing), someone will try to make you feel lousy about it, that's all. I'm not editorializing, just trying to give you the facts as I see them.There was also a work-ethic in the poem that I liked, something that suggested writing poems (or stories, or essays) had as much in common with sweeping the floor as with mythy moments of revelation.The realization that stopping a piece of work just because it's hard, either emotionally or imaginatively, is a bad idea. Sometimes you have to go on when you don't feel like it, and sometimes you're doing good work when it feels like all you're managing is to shovel shit.If I ever came close to despairing about my future as a writer, it was then. I could see myself thirty years on, wearing the same shabby tweed coats with patches on the elbows, potbelly rolling over my Gap khakis from too much beer. I'd have a cigarette cough from too many packs, thicker glasses, more dandruff, and in my desk drawer, six or seven unfinished manuscripts which I would take out and tinker with from time to time, usually when drunk. And of course. I'd lie to myself, telling myself there was still time, it wasn't too late.You can approach the act of writing with nervousness, excitement, hopefulness, or even despair – the sense that you can never completely put on the page what’s in your mind and heart. You can come to the act with your fists clenched and your eyes narrowed, ready to kick ass and take down names. You can come to it because you want a girl to marry you or because you want to change the world. Come to it any way but lightly. Let me say it again: you must not come lightly to the blank page.“When asked, "How do you write?" I invariably answer, "One word at a time," and the answer is invariably dismissed. But that is all it is. It sounds too simple to be true, but consider the Great Wall of China, if you will: one stone at a time, man. That's all. One stone at a time. But I've read you can see that motherfucker from space without a telescope.” Talent renders the whole idea of rehearsal meaningless; when you find something at which you are talented, you do it (whatever it is) until your fingers bleed or your eyes are ready to fall out of your head. The sort of strenuous reading and writing program I advocate - four to six hours a day, every day – will not seem strenuous if you really enjoy doing these things and have an aptitude for them.You learn best by reading a lot and writing a lot, and the most valuable lessons of all are the ones you teach yourself. These lessons almost always occur with the study door closed. ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#209 Steven Spielberg: A Biography

What I learned from reading Steven Spielberg: A Biography by Joseph McBride.  ---- 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.  ----Whatever is there, he makes it work.Spielberg once defined his approach to filmmaking by declaring, "I am the audience.""He said, 'I want to be a director.' And I said, 'Well, if you want to be a director, you've gotta start at the bottom, you gotta be a gofer and work your way up.' He said, 'No, Dad. The first picture I do, I'm going to be a director.' And he was. That blew my mind. That takes guts."One of his boyhood friends recalls Spielberg saying "he could envision himself going to the Academy Awards and accepting an Oscar and thanking the Academy.” He was twelve.He was disappointed in the world, so he built one of his own.Spielberg remained essentially an autodidact. Spielberg followed his own eccentric path to a professional directing career. Universal Studios, in effect, was Spielberg's film school. Giving him an education that, paradoxically, was both more personal and more conventional than he would have received in an academic environment. Spielberg devised what amounted to his own private tutorial program at Universal, immersing himself in the aspects of filmmaking he found most crucial to his development.At the time he came to Hollywood, generations of nepotism had made the studios terminally inbred and unwelcoming to newcomers. The studio system, long under siege from television, falling box-office receipts, and skyrocketing costs, was in a state of impending collapse.When Steven was very discouraged trying to sell a script and break in, he always had a positive, forward motion, whatever he may have been suffering inside.In the two decades since Star Wars and Close Encounters were released, science-fiction films have accounted for half of the top twenty box-office hits. But before George Lucas and Spielberg revived the genre there was no real appetite at the studios for science fiction. The conventional wisdom was science-fiction films never make money.Your children love you. They want to play with you. How long do you think that lasts? We have a few special years with our children, when they're the ones who want us around. So fast, it’s a few years, then it's over. You are not being careful. And you are missing it. ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#208 Steve Jobs, Bill Gates, Michael Dell, Bill Gates, Andy Grove, Bill Hewlett

What I learned from reading In the Company of Giants: Candid Conversations With the Visionaries of the Digital World by Rama Dev Jager and Rafael Ortiz.  ---- 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.  ---- A small team of A+ players can run circles around a giant team of B and C players. —Steve Jobs There are no shortcuts around quality, and quality starts with people. —Steve Jobs Usually people never think that much about what they're doing or why they do it. They just do it because that's the way it has been done and it works. That type of thinking doesn't work if you're growing fast and if you're up against some larger companies. You really have to outthink them and you have to be able to make those paradigm shifts in your points of view. —Steve Jobs ————Steve Jobs answer to What advice would you give someone interested in starting their own company?A lot of people ask me, "I want to start a company. What should I do?" My first question is always, "What is your passion? What is it you want to do in your company?" Most of them say, "I don't know."My advice is go get a job as a busboy until you figure it out. You've got to be passionate about something. You shouldn't start a company because you want to start a company. Almost every company I know of got started because nobody else believed in the idea and the last resort was to start the company. That's how Apple got started. That's how Pixar got started. It's how Intel got started. You need to have passion about your idea and you need to feel so strongly about it that you're willing to risk a lot.Starting a company is so hard that if you're not passionate about it, you will give up. If you're simply doing it because you want to have a small company, forget it.It's so much work and at times is so mentally draining. The hardest thing I've ever done is to start a company. It's the funnest thing, but it's the hardest thing, and if you're not passionate about your goal or your reason for doing it, you will give up. You will not see it through. So, you must have a very strong sense of what you want.You have to need to run such a business and know you can do it better than anyone else. ————There are no safe harbors. The only safe harbor is competency. Competency at doing something. —T.J. Rodgers founder of Cypress SemiconductorThe first time someone says, “The product you've made has changed my life," is the biggest sense of satisfaction you get. It motivates me more than anything else, by far. —Charles Geschke, founder of AdobeBeing detached from the customer is the ultimate death. —Michael Dell The faster you experiment and get rid of things that don't work and keep doing things that do work, the faster you get to the winning business model. —Michael DellThe important things of tomorrow are probably going to be things that are overlooked today. —Andy Grove The best assumption to have is that any commonly held belief is wrong. —Ken Olsen  ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#207 Claude Hopkins (Scientific Advertising)

What I learned from reading Scientific Advertising by Claude Hopkins.  ---- 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.  ----Individuals come and go, but they leave their records and ideas behind them. These become a guide to all who follow.Genius is the art of taking pains. The best ads ask no one to buy. That is useless. The best ads are based entirely on service. They offer wanted information. They site advantages to users.Remember the people you address are selfish, as we all are. The care nothing about your interests or your profit. They seek service for themselves. Ignoring this fact is a common mistake and a costly mistake in advertising. Ads say in effect, “Buy my brand. Give me the trade you give to others. Let me have the money." That doesn't work.We learn that people judge largely by price. We often employ this factor. Perhaps we are advertising a valuable formula. To merely say that would not be impressive. So we state as a fact that we paid $100,000 for that formula. That statement when tried has won a wealth of respect.The weight of an argument may often be multiplied by making it specific. Makers of safety razors have long advertised quick shaves. One maker advertised a 78-second shave.  The difference is vast. If a claim is worth making, make it in the most impressive way.The product itself should be its own best salesman. Not the product alone, but the product plus a mental impression, and atmosphere, which you place around it. Samples are of prime importance. However expensive, they usually form the cheapest selling method. Samples serve numerous valuable purposes. They enable one to use the word "Free" in ads. That often multiplies readers. Samples pay for themselves in multiplying the readers of your ads.Mail order advertising tells a complete story if the purpose is to make an immediate sale. You see no limitations there on the amount of copy. The motto is, "The more you tell the more you sell." And it has never failed to be proven wrong in any test we know.Show health, not sickness. Don't show the wrinkles you propose to remove, but the face as it will appear. Your customers know all about the wrinkles. Show pretty teeth, not bad teeth. Talk of coming good conditions, not conditions that exist. We are attracted by sunshine, beauty, happiness, health, and success. Point the way to them, not the way out of the opposite.I spend far more time on headlines than on writing. I often spend hours on a single headline. The identical ad run with various headlines differs tremendously in its returns. It is not uncommon for a change in headlines to multiply returns by five or ten times over. ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

#206 Albert D. Lasker (the creation of the advertising industry)

What I learned from reading The Man Who Sold America: The Amazing (but True!) Story of Albert D. Lasker and the Creation of the Advertising Century by Jeffrey L. Cruikshank and Arthur W. Schultz. ---- 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.  ----Advertising is a very simple thing. I can give it to you in three words: Salesmanship in print.Before he arrived on the scene, advertising agencies were mostly brokers of space in newspapers and magazines. With Lasker's prodding, the industry became a creative force and began earning substantial commissions.His rare ability to put troubled geniuses to work on challenging problems grew in part from the fact that he himself had been driven by "a thousand devils.”Albert measured himself against the man who had braved the privations and horrors of the Civil War, epidemics, and hurricanes and made several fortunes in a foreign and sometimes hostile land.Thomas was often taken aback by his young colleague's unconventional views and methods.He decided that he could represent as well as anybody, because at least as far as he could tell, nobody in his office really knew anything much about the business they were in.He was beginning to suspect that advertising agencies were leaving an enormous amount of money on the table. Lasker felt sure that he could build the business, and boost commissions if he could improve the agency's copywriting.You are insufferably egotistical on the things you know nothing about, and you are painfully modest about those things about which you know everything.Hopkins began imparting his theory of copywriting. We should never brag about a client's product, he said, or plead with consumers to buy it. Instead, we must figure out how to appeal to the consumer's self-interest.Lasker argued that rather than maintaining many modestly successful small brands, the company needed to create one overwhelmingly powerful product. ---- 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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast