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Write of Passage Podcast

Key Takeaways * Check out the episode page

Read the full notes @ podcastnotes.org

You know him as the CEO of OpenAI — but did you know that Sam Altman is an avid writer?

As one of today’s most successful entrepreneurs, Sam champions the tremendous value of writing: how it clarifies your thinking, expands your ideas, and levels-up your life in every sense, both personally and professionally. Plus, he has a love for the creative. (Have you ever met someone who can recite Percy Bysshe Shelley poems from memory? Well, Sam can.)

In this episode, we discuss how Sam uses ChatGPT in his daily life; how LLMs are changing the future of writing; what it means to be a novelist in the age of technology; and Sam’s best-learned writing lessons from Paul Graham. If you want to learn how the king of ChatGPT writes, this episode is for you.

SPEAKER LINKS:
Website: https://openai.com/
Blog: https://blog.samaltman.com/
Twitter: https://twitter.com/sama

WRITE OF PASSAGE:
Want to learn more about the final class for Write of Passage?
Click here: https://writeofpassage.com/

PODCAST LINKS:
Website: https://writeofpassage.school/how-i-write/
YouTube: https://www.youtube.com/@DavidPerellChannel/videos
Apple: https://podcasts.apple.com/us/podcast/how-i-write/id1700171470
Spotify: https://open.spotify.com/show/2DjMSboniFAeGA8v9NpoPv
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Invest Like the Best

Key Takeaways * “The founder has to be accountable for the story. The founder holds this secret knowledge and vision that other people do not.” – Lulu Meservey * Go Direct: If the founder’s secret has to go through seven layers of filtering before it is shared with the world, then it will become something that is already familiar to people and that already exists * The Core Ingredients of Founder Communications: + 1. Have a willingness and eagerness to take on the company’s comms + 2. Have a clear vision of the company’s goals + 3. Know your audience + 4. Reach people where they intellectually hang out * “Communication is a vector, not a scalar. It only matters if there is a direction attached to it.” – Lulu Meservey * Know your audience; if you are talking to the wrong people, then you would be better off talking to nobody because you may be making new enemies or unwanted friends * Do not worry about converting your haters into believers; doing so successfully is so rare that it is probably not worth your scare time * Know where your target audience intellectually hangs out so that your message can reach them in that medium * Do not worry about converting your haters into believers; doing so successfully is so rare that it is probably not worth your scare time * Craft your hook and know the erogenous zone of your target audience, then present them with a “gateway drug” that bridges them into the new world that you are creating

Read the full notes @ podcastnotes.org

My guest today is Lulu Meservey. Lulu is the Founder and CEO of Rostra, a company that partners with founders to level up their communications around all strategic initiatives, from hiring to fundraising. She is also on the board at Shopify. I have been recently fascinated by the challenge of founders telling their story and Lulu is an expert in comms and a believer in creative problem-solving through effective communication and compelling storytelling. We discuss the evolution of media and its pitfalls, innovative methods for managing crises, and the power of going direct with your communication. Please enjoy my conversation with Lulu Meservey.

I’m excited to announce that we are hiring an Editor in Chief at Colossus. This will be a critical and central role in our growing media platform and in our quest to find and showcase the best people, businesses, and ideas in the world. This person will work on existing shows like Invest Like the Best and Founders, our soon-to-be-announced print publication, and more. We aim to be the dominant media company exploring business and investing frontiers, so this person needs to be obsessed with these topics and bring serious operational chops. I firmly believe this role can help define someone’s career. Go to joincolossus.com/eic to apply.

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For the full show notes, transcript, and links to mentioned content, check out the episode page here.

This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com to learn more about the platform.
—
This episode is brought to you by Alphasense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. AlphaSense provides access to over 300 million premium documents, including company filings, earnings reports, press releases, and more from public and private companies. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegas help you make smarter decisions faster.

Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @patrick_oshag | @JoinColossus
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).
Show Notes:
(00:00:00) Welcome to Invest Like the Best
(00:06:48) The Evolution of Media and Communication
(00:11:25) The Importance of Direct Communication for Founders
(00:20:20) Choosing the Right Partners and Clients
(00:25:20) The Art of Launching a Product
(00:34:01) Fundraising Tips for Entrepreneurs and Investors
(00:35:32) The Pitfalls of Inauthentic Fundraising
(00:36:05) Crafting a Compelling Macro Narrative
(00:37:54) Crisis Management Strategies for Founders
(00:42:41) Lessons from Counterinsurgency
(00:44:24) The Rugby Analogy for Founders
(00:49:34) The Power of K-Pop Marketing
(00:56:30) Vision and Future of Rostra
(01:01:17) The Importance of Direct Communication
(01:10:36) The Kindest Thing Anyone Has Done For Lulu

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How to Take Over the World

The story of how John Wooden won ten national championships on the way to becoming the greatest coach of all time.

Sponsors:
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Writing, production, and sound editing by Ben Wilson with support from Michael Lackner.
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Founders✓Claim

The name of Nobel usually calls to mind Alfred Nobel, inventor of dynamite, and the internationally prestigious prizes that bear his name. But Alfred was only one member of a creative and innovative family who built an industrial empire in prerevolutionary Russia. The saga begins with an emigre from Sweden, Immanuel Nobel, who was an architect, a pioneer producer of steam engines, and a maker of weapons.

Immanuel's sons included Alfred; Robert, who directed the family's activities in the Caspian oil fields; and Ludwig, an engineering genius and manufacturing magnate whose boundless energy and fierce determination created the Russian petroleum industry.

Ludwig's son Emanuel showed similar mettle, shrewdly bargaining with the Rothschilds for control of the Russian markets and competing head-on with Standard Oil and Royal Dutch Shell for lucrative world markets.

Perhaps no family in history has played so decisive a role in building an industrial empire in an underdeveloped but resource-rich nation. Yet the achievements of the Nobel family have been largely forgotten. When the Bolsheviks came to power, Emmanuel had to flee the country disguised as a peasant.

The Nobel empire with its 50,000 workers lay in ruins. An empire which had taken eighty years to design and build, was nearly destroyed, bringing a sudden and bitter end to one of the most remarkable industrial odysseys in world history.

This episode is what I learned from reading The Russian Rockefellers: The Saga of the Nobel Family and the Russian Oil Industry by Robert Tolf.

Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more.

Founders Notes gives you the superpower to learn from history's greatest entrepreneurs on demand. You can search all my notes and highlights from every book I've ever read for the podcast. Get access to Founders Notes here.

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“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

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Write of Passage Podcast

Key Takeaways * Writing invokes clarity of thought; it forces you to ensure that every you say is actually correct * Productive writers are always thinking about the topics they write about, even if they are not sitting in front of their computer * The goal of writing is not to convince the reader that you are right, but to force the reader to think about the issue that you are discussing * “The most important article you write is the second article someone reads.” – Ben Thompson * Develop a framework for writing by using “The Writing Machine”: + Have an overall view of the world and how it works + Process news and information as it happens + Fed that information into your worldview machine + The output that this machine churns out is your content

Read the full notes @ podcastnotes.org

What if writing a newsletter could pay your rent? Well, it can. And today, you’re going to learn how.
Ben Thompson makes millions of dollars a year with his writing. He’s the OG of subscription-based newsletter writers. Maybe that’s your dream, too, but you’re plagued by questions like: “What should I write about?” “What’s my business model?” “How do I make my first dollar online?” We’re so glad you asked; because Ben has the answers. In this episode, you’ll learn his exact playbook for how to monetize your writing — not just for right now, but also for the future.
Ben’s blog, Stratechery, is the OG of subscription-based newsletters and actually inspired the creation of Substack. If you’ve ever wondered what a day-in-the-life of someone who makes millions of dollars writing looks like, now’s your chance.

SPEAKER LINKS:
Website & Newsletter: https://stratechery.com/
Twitter: https://twitter.com/benthompson

WRITE OF PASSAGE:
Want to learn more about the next class for Write of Passage?
Click here: https://writeofpassage.com/

PODCAST LINKS:
Website: https://writeofpassage.com/how-i-write
YouTube: https://www.youtube.com/@DavidPerellChannel/videos
Apple: https://podcasts.apple.com/us/podcast/how-i-write/id1700171470
Spotify: https://open.spotify.com/show/2DjMSboniFAeGA8v9NpoPv
Learn more about your ad choices. Visit megaphone.fm/adchoices

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My First Million

Key Takeaways * The nine non-obvious lessons that Shaan Puri has learned while building an audience: + 1. Forget the numbers + 2. Find your inner nerd + 3. Build a magnet, not an audience + 4. The First, Last, Best, Worst, Weirdest framework + 5. Use the Five D’s + 6. Nothing is too long, only too boring + 7. Don’t worry about style or production quality + 8. Create a Binge Bank + 9. Be so good that they cannot ignore you

Read the full notes @ podcastnotes.org

Episode 620: Shaan Puri ( https://x.com/ShaanVP ) breaks down the 9 lessons he’s learned while building an audience.
—
Show Notes:
(0:00) Intro
(2:17) Forget the numbers
(6:11) Find your inner nerd
(9:57)Build a magnet
(10:40) First, Last, Best, Worst, Weirdest
(12:40) The thing I wish I knew earlier
(15:53) No such thing as too long
(16:18) A+ content with C- delivery
(17:58) Create a binge bank
(18:32) People don’t want information
(19:55) Be so good they can’t ignore you

—

Get our business idea database here https://clickhubspot.com/mfm

Check Out Shaan's Stuff:
Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd

My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

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Invest Like the Best

Key Takeaways * The keys to creating a business culture of excellence: + Have a small number of people who are elite in their field + Compensate them very well + Ensure that compensation and promotion are perfectly tied to performance + Ruthlessly minimize bureaucracy + Celebrate people who do big things with the fewest number of people possible * “Mathematical superintelligence” is a more specific way to refer to artificial general intelligence (AGI) * Mathematical superintelligence is an AI that solves math problems at a superior capability compared to the sum total of all humans on earth * It will be able to solve any problem, but especially those that have a quantitative element or that require quantitative reasoning * The coming years and decades include a $100+ trillion wealth transfer from boomers to millennials; given the company’s customer base, Robinhood is well-positioned to benefit from this wealth transfer * De-emphasize the significance of the “number of people” managed; the desire to manage a larger number of people warps incentives and attracts empire builders instead of problem-solvers * “Sometimes I just read the reviews of the Robinhood credit card app before bed.” – Vlad Tenev * Advice for entrepreneurs: Imagine if Frank Slootman took over your company… What are the ten things that he would do?

Read the full notes @ podcastnotes.org

My guest today is Vlad Tenev. Vlad is the CEO and co-founder of Robinhood. It was such a treat to sit down with him and discuss the behind-the-scenes of a revolutionary business we all know well. He details Robinhood’s journey to zero-cost trading and what it means to build a consumer-centric financial product. Vlad believes in finding the harmonies across mathematics and art and applies this lens to everything he builds. We discuss Robinhood’s new credit card and more products on the horizon, the company’s toughest moments, including the Gamestop episode, and the compelling future of AI in financial services. Please enjoy this conversation with Vlad Tenev.

For the full show notes, transcript, and links to mentioned content, check out the episode page here.

This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com to learn more about the platform.

This episode is brought to you by Tegus, where we're changing the game in investment research. Step away from outdated, inefficient methods and into the future with our platform, proudly hosting over 100,000 transcripts – with over 25,000 transcripts added just this year alone. Our platform grows eight times faster and adds twice as much monthly content as our competitors, putting us at the forefront of the industry. Plus, with 75% of private market transcripts available exclusively on Tegus, we offer insights you simply can't find elsewhere. See the difference a vast, quality-driven transcript library makes. Unlock your free trial at tegus.com/patrick.

Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.
Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @patrick_oshag | @JoinColossus
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

Show Notes:
(00:00:00) Welcome to Invest Like the Best
(00:03:56) The Next Frontier in AI: Reasoning and Logical Deductions
(00:06:19) Challenges and Approaches in AI Development
(00:09:08) Formal Mathematics and AI Integration
(00:11:23) Practical Applications of Mathematical Superintelligence
(00:17:30) Robinhood's Journey to Zero-Cost Trading
(00:24:38) Building a Consumer-Friendly Trading Platform
(00:28:52) Robinhood Gold and the Future of Financial Services
(00:35:51) Understanding Robinhood's Business Model
(00:42:34) Navigating the GameStop Crisis
(00:49:17) Improving Customer Satisfaction
(00:52:43) Reputation Repair
(00:54:52) The Future of Financial Services
(00:59:06) Crypto and AI in Finance
(01:08:09) Building a High-Performance Culture
(01:11:42) The Kindest Thing Anyone Has Ever Done for Vlad

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Infinite Loops

Key Takeaways * Investing is a service-based business; focus on the karma! * “The four horsemen of the investment apocalypse are fear, greed, hope, and ignorance. And only ignorance is something that you can address.” – Jim O’Shaughnessy * Take actions that increase the surface area of your luck * Ironically, in a changing world, playing it safe is one of the riskiest things that you can do * Learn how you are going to react to every phase of the market * You have to be selective, but you also have to be okay with rejection * Trust is a function of experience, and experience is a function of time * You do not need to be right every time to dominate; the best traders in history are right just a little more than 50% of the time * How to add value early in your career: Find the 10% of a person’s life that they hate, and make that problem go away for them * The investing industry is based on trust and reputation – it is wise to remember this

Read the full notes @ podcastnotes.org

Let me introduce you to the four horsemen of the investment apocalypse:

Fear.

Greed.

Hope.

Ignorance.

Notice anything?

Three of four are emotions.

I’ve long argued that effective investing is far more about emotional control than technical know-how (although the latter certainly helps!) By hook or by crook, the best investors can find a way to tame their pesky emotional impulses and overcome that primal urge to respond impulsively to panic, passion, or pride.

My guest, the razor-sharp Ateet Ahluwalia, is a veteran trader and investor who has spent well over 15 years at the coalface, from trading at Goldman at the dawn of the financial crisis to his current role as founder and managing director of the venture capital firm Island Green Capital Management. As you’ll hear from our conversation, Ateet has built an insanely deep understanding of the emotional constitution required to succeed in finance and venture capital, which informs his approach to risk management, hiring, investing, due diligence, and everything in between.

I hope you enjoy our wide-ranging conversation, whose implications extend well beyond investing. For episode takeaways, a full transcript, and various other goodies, check out our Substack.

Important Links:

• The Thinker and The Prover; by Jim O’Shaughnessy
• Ateet’s LinkedIn
• Island Green Capital Management

Show Notes:

• Why Venture Capitalists Should Shun the Glory
• “In a changing world, playing it safe is one of the riskiest things you can do."
• Risk: Why Size Matters
• The Emotional Constraints of Investing
• How to Find Out What Someone Really Wants
• The Purifying Power of Mistakes
• Pick up the Phone!
• Being Humbled by the Market
• Public vs Private Investing
• Why Hit Rates Matter
• Assessing the Macro Position
• Bullshitting, Question-Dodging, and Other Red Flags
• The Many Bosses of the Venture Capitalist
• Be a Painkiller
• Ateet as Emperor of the World
• MORE!

Books Mentioned:

• The Enlightenment Trilogy; by Jed McKenna
• Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist; by Brad Feld & Jason Mendelson
• Financial Intelligence: A Manager’s Guide to Knowing What the Numbers Really Mean; by Karen Berman, Joe Knight & John Case
• Adventures of a Bystander; by Peter F. Drucker

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Artificial Intelligence Podcast

Key Takeaways * Check out the episode page

Read the full notes @ podcastnotes.org

Elon Musk is CEO of Neuralink, SpaceX, Tesla, xAI, and CTO of X. DJ Seo is COO & President of Neuralink. Matthew MacDougall is Head Neurosurgeon at Neuralink. Bliss Chapman is Brain Interface Software Lead at Neuralink. Noland Arbaugh is the first human to have a Neuralink device implanted in his brain.

Transcript: https://lexfridman.com/elon-musk-and-neuralink-team-transcript

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EPISODE LINKS:
Neuralink's X: https://x.com/neuralink
Neuralink's Website: https://neuralink.com/
Elon's X: https://x.com/elonmusk
DJ's X: https://x.com/djseo_
Matthew's X: https://x.com/matthewmacdoug4
Bliss's X: https://x.com/chapman_bliss
Noland's X: https://x.com/ModdedQuad
xAI: https://x.com/xai
Tesla: https://x.com/tesla
Tesla Optimus: https://x.com/tesla_optimus
Tesla AI: https://x.com/Tesla_AI

PODCAST INFO:
Podcast website: https://lexfridman.com/podcast
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OUTLINE:
Here's the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time.
(00:00) - Introduction
(09:26) - Elon Musk
(12:42) - Telepathy
(19:22) - Power of human mind
(23:49) - Future of Neuralink
(29:04) - Ayahuasca
(38:33) - Merging with AI
(43:21) - xAI
(45:34) - Optimus
(52:24) - Elon's approach to problem-solving
(1:09:59) - History and geopolitics
(1:14:30) - Lessons of history
(1:18:49) - Collapse of empires
(1:26:32) - Time
(1:29:14) - Aliens and curiosity
(1:36:48) - DJ Seo
(1:44:57) - Neural dust
(1:51:40) - History of brain–computer interface
(1:59:44) - Biophysics of neural interfaces
(2:10:12) - How Neuralink works
(2:16:03) - Lex with Neuralink implant
(2:36:01) - Digital telepathy
(2:47:03) - Retracted threads
(2:52:38) - Vertical integration
(2:59:32) - Safety
(3:09:27) - Upgrades
(3:18:30) - Future capabilities
(3:47:46) - Matthew MacDougall
(3:53:35) - Neuroscience
(4:00:44) - Neurosurgery
(4:11:48) - Neuralink surgery
(4:30:57) - Brain surgery details
(4:46:40) - Implanting Neuralink on self
(5:02:34) - Life and death
(5:11:54) - Consciousness
(5:14:48) - Bliss Chapman
(5:28:04) - Neural signal
(5:34:56) - Latency
(5:39:36) - Neuralink app
(5:44:17) - Intention vs action
(5:55:31) - Calibration
(6:05:03) - Webgrid
(6:28:05) - Neural decoder
(6:48:40) - Future improvements
(6:57:36) - Noland Arbaugh
(6:57:45) - Becoming paralyzed
(7:11:20) - First Neuralink human participant
(7:15:21) - Day of surgery
(7:33:08) - Moving mouse with brain
(7:58:27) - Webgrid
(8:06:28) - Retracted threads
(8:14:53) - App improvements
(8:21:38) - Gaming
(8:32:36) - Future Neuralink capabilities
(8:35:31) - Controlling Optimus robot
(8:39:53) - God

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Twenty Minute VC

Key Takeaways * “Extraordinary careers, when you are junior in venture, do not get built sitting behind a desk in an office behind a laptop. You have to be willing to go meet with founders in person, figure out how to understand their business and how to convince them to even spend time with you when you are not one of the big general partners.” – Delian Asparouhov * Startups must have a strong vision for the future of the world, and then build towards making that vision the reality * Young venture capitalists do not focus enough on differentiation; many young VCs spread themselves too thin by focusing on a multitude of sectors * In venture, you have no moat other than your brand; “US dollars” is the product that you deliver – a product that anybody else can deliver * The number one thing that Delian has learned from Peter Thiel: There is always a way to structure your argument so that you are on the winning side no matter what * “People love software because the marginal distribution costs are zero, but perhaps what people need to realize is also that the marginal returns are zero as well because there is no moat.” – Delian Asparouhov * The only rule of the Founders Fund is that there are no rules * Over the next 100-200 years, our biggest geopolitical and moral crisis is humanity speciating by way of artificial selection pressures (such as embryonic scoring and CRISPR DNA changing) and natural selection pressures (such as humans existing on new frontiers, perhaps in space) * Say what you think; it doesn’t really matter how society chooses to react to it

Read the full notes @ podcastnotes.org

Delian Asparouhov is a Partner at Founders Fund and Co-Founder and President of Varda Space Industries, which is building the world's first space factories. At Founders Fund Delian has led deals in the likes of Ramp ($7BN) and Sword Health ($3BN) among others. Before joining Founders Fund, he was a Principal at Khosla Ventures, Head of Growth at Teespring, and Founder of a healthcare company called Nightingale.

In Today's Episode with Delian Asparouhov We Discuss: 1. Venture Capital: Winners, Losers and Everyone Else:

• Who are the Top 3 venture firms in the world today according to Delian?
• Why does Delian believe that Benchmark are not the firm they were?
• Who will be the winners in venture in the next 10 years?

• Who will be the losers in venture in the next 10 years?

• Inside Founders Fund: What No One Sees:

• What are the most important and impactful elements of Founders Fund that no one knows about?

• What does Delian believe that the Founders Fund partnership will strongly disagree with him on?
• Why does Founders Fund believe the path of most resistance is the best way to make decisions?

• What single topic has Delian publicly disagreed with Peter Thiel on most? How did it go?

• What Every Young VC Needs to Know:

• What are Delian's single biggest tips to young VCs looking to scale the VC ladder today?

• What are the five core pillars of venture according to Delian? What should young VCs focus on?
• Why does Delian disagree with Founders Fund partners that "the best founders do not need the help of their VCs?"
• Does Delian agree with Vinod Khosla that "90% of VCs do detract value?"

• What are the biggest ways that Delian believes VCs can and do detract value?

• Europe Will Be Third World, Parenting and Marriage:

• Why does Delian believe that Western Europe will become like the third world?

• What are Delian's single biggest tips on finding a life partner?
• What have been the biggest changes to Delian since becoming a father?
• What question does no one ask Delian that someone should ask him?

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rational vc

Key Takeaways * Check out the Rational VC website

Read the full notes @ podcastnotes.org

Learn from history's Greatest Minds — and find Timeless ideas you can apply to business and life. Every episode we explore a Lindy book: We strive to become polymaths like our investing and business icons, pulling the Big Ideas from a wide range of disciplines to help us become better investors and operators. For the curious-minded seeking Worldly Wisdom. Join 3,000+ others by subscribing @ rationalvc.com to get free access to essays and exclusive content.

For the video version of this episode click here.

Timestamps:

(00:00) Intro

(08:16) Core Concepts

(12:10) Important Prologue One

(29:10) Important Prologue Two

(45:04) Prologue Three

(49:42) A First Look at Agency

(1:05:00) Ethics Problems in Scaling

(1:09:00) The Minority Rule

(1:29:40) Employment & FU Money, Freedom

(1:47:26) Status, Manners & Competence

(1:49:55) On Taking Risks

(1:55:35) The Intellectual Yet Idiot

(2:04:17) The Lindy Effect Recap

(2:09:10) Deeper Into Agency

(2:11:58) The Illusion of Business Plans

(2:15:00) Charlie Munger, Show Rather Than Be

(2:17:15) Financial Minimalism, Mimesis

(2:24:22) Virtues & Advice for Young People

(2:26:37) The Interventionistas

(2:28:36) Religion, Belief, & SITG

(2:31:10) Most Important, Book 8: Risk & Rationality

(2:51:05) Epilogue

—

Our website (all essays and podcasts): rationalvc.com
Our investment fund: rational.fund
Cyrus' Twitter: x.com/CyrusYari
Iman's Twitter: x.com/iman_olya

—

Referenced Material:

Cyrus on "Financial Minimalism", Viral Essay:
https://www.rationalvc.com/articles/minimalism

Also listen to the prior three podcast episodes - each covered the other books of Taleb's Incerto Series.

—

Disclaimer: The materials provided are solely for informational or entertainment purposes and do not constitute investment or legal advice. All opinions expressed by hosts and guests are solely their own opinions and do not reflect the opinion of their employer(s).

#Timeless #wisdom #knowledge #books #polymaths

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How to Take Over the World

Key Takeaways * “I can accept failure, everyone fails at something. But I can’t accept not trying.” – Michael Jordan * The greats do not cower when they are slighted; instead, their determination only grows further * “I never asked any of my teammates to do something that I wasn’t willing to do myself. If you don’t want to play that way, don’t play that way. I’m not going to do it for you.” – Michael Jordan * Learning is a gift, even when pain is your teacher * It obvious when a person wants to win more than the competition; the world has a way of elevating these people who simply want it more than everyone else * After Michael Jordan’s legendary performance in Game 2 of the 1986 Eastern Conference First Round, where he scored 63 points against the Boston Celtics, Larry Bird famously said: “I think he’s God disguised as Michael Jordan.” * “I’ve missed more than 9,000 shots in my career. I’ve lost almost 300 games. 26 times I’ve been trusted to take the game-winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.” – Michael Jordan

Read the full notes @ podcastnotes.org

"I can accept failure. Everyone fails at something, but I can't accept not trying. I can't accept it." Michael Jordan is one of the greatest basketball players of all time. He's also a great entrepreneur, business owner, and Olympian. In this episode, we cover his remarkable story and talk about the strategies, tactics, and work habits that made him so effective.

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Lenny's Podcast: Product | Growth | Career✓Claim

Key Takeaways * Check out the episode page

Read the full notes @ podcastnotes.org

Rory Sutherland is widely regarded as one of the most influential (and most entertaining) thinkers in marketing and behavioral science.He’s the vice chairman of Ogilvy UK, the author of Alchemy: The Dark Art and Curious Science of Creating Magic in Brands, Business, and Life, and the founder of Nudgestock, the world’s biggest festival of behavioral science and creativity. He champions thinking from first principles and using human psychology—what he calls “thinking psycho-logically”—over mere logic. In our conversation, we cover:

• Why good products don’t always succeed, and bad ones don’t necessarily fail

• Why less functionality can sometimes be more valuable

• The importance of fame in building successful brands

• The importance of timing in product success

• The concept of “most advanced, yet acceptable”

• Why metrics-driven workplaces can be demotivating

• Lots of real-world case studies

• Much more

Note: We encountered some technical difficulties that led to less than ideal video quality for this episode, but the lessons from this conversation made it impossible for me to not publish it anyway. Thanks for your understanding and for bearing with the less-than-ideal video quality.

—

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• Pendo—The only all-in-one product experience platform for any type of application

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Find the transcript at: https://www.lennysnewsletter.com/p/what-most-people-miss-about-marketing

—

Where to find Rory Sutherland:

• X: https://x.com/rorysutherland

• LinkedIn: https://www.linkedin.com/in/rorysutherland

• Book: Alchemy: The Dark Art and Curious Science of Creating Magic in Brands, Business, and Life: https://www.amazon.com/Alchemy-Curious-Science-Creating-Business/dp/006238841X

—

Where to find Lenny:

• Newsletter: https://www.lennysnewsletter.com

• X: https://twitter.com/lennysan

• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

—

In this episode, we cover:

(00:00) Rory’s background

(02:37) The success and failure of products

(04:08) Why the urge to appear serious can be a disaster in marketing

(08:05) The role of distinctiveness in product design

(12:29) The MAYA principle

(15:50) How thinking irrationally can be advantageous

(17:40) The fault of multiple-choice tests

(21:31) Companies that have successfully implemented out-of-the-box thinking

(30:31) “Psycho-logical” thinking

(31:45) The hare and the dog metaphor

(38:51) Marketing’s crucial role in product adoption

(49:21) The quirks of Google Glass

(55:44) Survivorship bias

(56:09) Balancing rational ideas with irrational ideas

(01:06:19) The rise and fall of tech innovations

(01:09:54) Consistency, distinctiveness, and clarity

(01:21:12) Considering psychological, technological, and economic factors in parallel

(01:23:35) Where to find Rory

—

Referenced:

• Google Glass: https://en.wikipedia.org/wiki/Google_Glass

• Meta Portal TV: https://www.meta.com/portal/products/portal-tv/

• Rory’s quote in a LinkedIn post: https://www.linkedin.com/posts/brad-jackson-04766642_the-urge-to-appear-serious-is-a-disaster-activity-7093497742710210560-1LYN/

• The MAYA Principle: Design for the Future, but Balance It with Your Users’ Present: https://www.interaction-design.org/literature/article/design-for-the-future-but-balance-it-with-your-users-present

• Ogilvy: https://www.ogilvy.com/

• MCI: https://www.mci.world/

• Veuve Clicquot: https://en.wikipedia.org/wiki/Veuve_Clicquot

• Why do the French call the British ‘the roast beefs’?: http://news.bbc.co.uk/2/hi/2913151.stm

• The Killing on Hulu: https://www.hulu.com/series/the-killing-f5da5c2d-4626-4ba9-bcf3-ff5f891771fb

• Original The Killing on BBC: https://www.bbc.co.uk/programmes/b017h7m1

• The Mandarin Oriental, Hong Kong: https://www.mandarinoriental.com/en/hong-kong/victoria-harbour

• SAT: https://satsuite.collegeboard.org/sat

• The Widening Racial Scoring Gap on the SAT College Admissions Test: https://www.jbhe.com/features/49_college_admissions-test.html

• What is the age of the captain?: https://www.icopilots.com/what-is-the-age-of-the-captain/

• Octopus Energy: https://octopus.energy/

• Kraken: https://octopusenergy.group/kraken-technologies

• Toby Shannan: https://theorg.com/org/shopify/org-chart/toby-shannan

• Dunbar’s number: Why we can only maintain 150 relationships: https://www.bbc.com/future/article/20191001-dunbars-number-why-we-can-only-maintain-150-relationships

• AO: https://ao.com/

• Zappos: https://www.zappos.com/

• Joe Cano on LinkedIn: https://www.linkedin.com/in/joeycano/

• John Ralston Saul’s website: https://www.johnralstonsaul.com/

• Voltaire’s Bastards: The Dictatorship of Reason in the West: https://www.amazon.com/Voltaires-Bastards-Dictatorship-Reason-West/dp/0679748199

• Psycho-Logic: Why Too Much Logic Deters Magic: https://coffeeandjunk.com/psycho-logic/

• Herbert Simon’s Decision-Making Approach: https://bura.brunel.ac.uk/bitstream/2438/4995/1/Fulltext.pdf

• Robert Trivers’s website: https://roberttrivers.com/Welcome.html

• Crazy Ivan: https://jollycontrarian.com/index.php?title=Crazy_Ivan

• The Joys of Being a Late Tech Adopter: https://www.nytimes.com/2019/08/28/technology/personaltech/joys-late-tech-adopter.html

• Jean-Claude Van Damme: https://en.wikipedia.org/wiki/Jean-Claude_Van_Damme

• Tim Berners-Lee: https://en.wikipedia.org/wiki/Tim_Berners-Lee

• Edward Jenner and the history of smallpox and vaccination: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1200696/

• The real story behind penicillin: https://www.pbs.org/newshour/health/the-real-story-behind-the-worlds-first-antibiotic

• What Are Japanese Toilets?: https://www.bigbathroomshop.co.uk/info/blog/japanese-toilets/

• reMarkable: https://remarkable.com/

• Chumby: https://en.wikipedia.org/wiki/Chumby

• Survivorship bias: https://en.wikipedia.org/wiki/Survivorship_bias

• Jony Ive: https://en.wikipedia.org/wiki/Jony_Ive

• Marc Newson’s website: https://marc-newson.com/

• Designing Men: https://www.vanityfair.com/news/business/2013/11/jony-ive-marc-newson-design-auction

• Qantas A330: https://marc-newson.com/qantas-a330/

• Herodotus: https://en.wikipedia.org/wiki/Herodotus

• Big Decision? Consider It Both Drunk and Sober: https://www.forbes.com/sites/chunkamui/2016/03/22/wine-and-sleep-make-for-better-decisions/?sh=5c97fdc524b1

• How Henry Ford and Thomas Edison killed the electric car: https://www.speakev.com/threads/how-henry-ford-and-thomas-edison-killed-the-electric-car.4270/

• Watch Jay Leno get nostalgic and swoon over this 1909 EV: https://thenextweb.com/news/jay-leno-talk-about-electric-car-1909-baker

• Jay Leno’s Garage: https://www.youtube.com/@jaylenosgarage

• Nudgestock: https://nudgestock.com/

• Akio Morita: https://en.wikipedia.org/wiki/Akio_Morita

• Don Norman on LinkedIn: https://www.linkedin.com/in/donnorman/

• What Makes Tesla’s Business Model Different: https://www.investopedia.com/articles/active-trading/072115/what-makes-teslas-business-model-different.asp

• Monica Lewinsky on X: https://x.com/MonicaLewinsky

• Blindsight: The (Mostly) Hidden Ways Marketing Reshapes Our Brains: azon.com/Blindsight-Mostly-Hidden-Marketing-Reshapes-ebook/dp/B07ZKZ5DWF

• Branding That Means Business: https://www.amazon.com/Branding-that-Means-Business-Economist-ebook/dp/B09QBCCH9N

• PwC: https://www.pwc.com

• Ryanair: https://www.ryanair.com

• British Airways: https://www.britishairways.com/

• Wrigley’s began as a soap business: know when to pivot: https://theamericangenius.com/entrepreneur/wrigleys-began-as-soap-know-when-to-pivot/

• Transport for Humans: https://www.amazon.com/Transport-Humans-Perspectives-Pete-Dyson/dp/1913019357

—

Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.

—

Lenny may be an investor in the companies discussed.

Get full access to Lenny's Newsletter at www.lennysnewsletter.com/subscribe

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Modern Wisdom

Key Takeaways * The emotion that we do not want to feel is often the emotion that we invite in the exact way that we try to avoid it * The spiritual path for so many is just another way to say, ‘I am not good enough yet * You are not going to get to where you want to go by being a really sh*tty boss to yourself * Enjoyment is a state of mind * Letting go doesn’t happen by telling yourself to let go; letting go happens when it is ready * The desire to be special can only exist if you don’t know who you are * We make decisions on an emotional basis and we use logic to figure out how we will feel based on a decision * If you can’t say no, then you can’t find your “yes” * People don’t want you to be perfect; what they want is to feel connected with you * We know ourselves by comparative contrast; but when we feel joy, the contrast goes away * The “inner voice” is not necessarily bad; oftentimes though, it is irrational and incompetent * The key to self-improvement is understanding who you are * Instead of considering what is wrong in your life and how to fix it, consider what is right and how you can grow it

Read the full notes @ podcastnotes.org

Joe Hudson is a coach, entrepreneur and a podcast host.
We are often our own harshest critics. Everyone knows that it’s important to be kinder and more understanding to ourselves, yet this is a challenge. So what is a more reliable route to developing self-compassion, stopping negative self-talk and getting out of our own way?
Expect to learn what the real Matrix is, how to identify thoughts that might be holding you back, why feeling superior only works if you’re suppressing emotions, why people struggle so much to connect with their inner world, how to reduce negative self talk, where self discovery comes from and much more...
Sponsors:
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Extra Stuff:
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Episodes You Might Enjoy:

577 - David Goggins - This Is How To Master Your Life: https://tinyurl.com/43hv6y59

712 - Dr Jordan Peterson - How To Destroy Your Negative Beliefs: https://tinyurl.com/2rtz7avf

700 - Dr Andrew Huberman - The Secret Tools To Hack Your Brain: https://tinyurl.com/3ccn5vkp

• Get In Touch:
  Instagram: https://www.instagram.com/chriswillx
  Twitter: https://www.twitter.com/chriswillx
  YouTube: https://www.youtube.com/modernwisdompodcast
  Email: https://chriswillx.com/contact
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Founders✓Claim

What I learned from reading The Nolan Variations: The Movies, Mysteries, and Marvels of Christopher Nolan by Tom Shone.

EightSleep: Get the best sleep of your life and unlock more energy with the Pod 3. Get $150 off at eightsleep.com/founders/

One of the best podcasts I've heard this year: Listen to Invest Like The Best #336 Jeremy Giffon Special Situations in Private Markets

Join my free email newsletter to get my top 10 highlights from every book

(7:00) The only way I know how to work is to sort of burrow in on one project very obsessively.

(7:25) People will say to me, "There are people online who are obsessed with Inception or obsessed with Memento.”

They're asking me to comment on that, as if I thought it were weird or something, and I'm like, Well, I was obsessed with it for years. Genuinely obsessed with it. So it doesn't strike me as weird. . . I feel like I have managed to wrap them the up in it way I try to wrap myself up.

(8:30) The Futurist: The Life and Films of James Cameron by Rebecca Keegan and The Return of James Cameron, Box Office King by Zach Baron. (Founders #311)

(11:00) I don’t think of myself as an artist. I’m a craftsman. I don’t make a work of art; I make a movie. — George Lucas: A Life by Brian Jay Jones.

(15:30) Steven Spielberg: A Biography by Joseph McBride. (Founders #209)

(22:45) Nolan is relentlessly resourceful. He wants to spend as as little money as possible so he can maintain as much control over the project as possible.

(23:30) He makes his first movie on the weekends while he working a full-time job!

(29:30) The efficiency of filmmaking is for me a way of keeping control. The pressure of time, the pressure of money. Even though they feel like restrictions at the time, and you chafe against them, they're helping you make decisions. They really are. If I know that deadline is there, then my creative process ramps up exponentially.

(34:00) The result of making a billion dollar blockbuster: Suddenly his position at Warner Brothers went from solid to unassailable.

(37:00) Stories can add to your own thinking but you need your own foundation to add them to first.

(38:00) I know it's more fun when we're all together and we can do the thing together. That's why we keep it as a family business.

(39:00) Rolls-Royce: The Magic of a Name: The First Forty Years of Britain s Most Prestigious Company by Peter Pugh. (Founders #287)

(43:30) Every time a new feature or product was proposed, he decreed that the narrative should take the shape of a mock press release. The goal was to get employees to distill a pitch into its purest essence, to start from something the customer might see—the public announcement—and work backward. Bezos didn’t believe anyone could make a good decision about a feature or a product without knowing precisely how it would be communicated to the world. — The Everything Store: Jeff Bezos and the Age of Amazon by Brad Stone. (Founders #179)

(45:30) Once your children are born, you can never look at yourself through your own eyes anymore; you always look at yourself through their eyes.

(49:30) I often have terrible luck with the weather, but my philosophy is to shoot no matter what the weather is, always shooting no matter what weather, just keeping going, keeping going. Letting everybody on the crew and cast know we're really serious about doing that, no matter what the conditions are, so they're not looking out the window first thing and going, Oh, we will or won't shoot today.

“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

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My First Million

Key Takeaways * Check out the episode page

Read the full notes @ podcastnotes.org

Episode 609: Sam Parr ( https://twitter.com/theSamParr ) and Shaan Puri ( https://twitter.com/ShaanVP ) break down the genius marketing tactics used by the brands you can’t get out of your brain–no matter how much you want to.

—
Show Notes:
(0:00) The history of jingles (Bring them back!)
(11:07) Prediction: Polymarket is going to be massive
(21:25) The wisdom on the crowd phenomenon
(26:36) How gaming apps hunt for whales
(31:00) Corporate Slang That Doesn't Exist But Should

—
Links:
• DatPiff - https://www.datpiff.com/
• Polymarket - https://polymarket.com/

—
Check Out Shaan's Stuff:
Need to hire
? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd

—
Check Out Sam's Stuff:
• Hampton - https://www.joinhampton.com/
• Ideation Bootcamp - https://www.ideationbootcamp.co/
• Copy That - https://copythat.com
• Hampton Wealth Survey - https://joinhampton.com/wealth
• Sam’s List - http://samslist.co/

My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

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Lenny's Podcast: Product | Growth | Career✓Claim

Key Takeaways * Check out the episode page

Read the full notes @ podcastnotes.org

Mike Maples, Jr. is a legendary early-stage startup investor and a co-founder and partner at Floodgate. He’s made early bets on transformative companies like Twitter, Lyft, Twitch, Okta, Rappi, and Applied Intuition and is one of the pioneers of seed-stage investing as a category. He’s been on the Forbes Midas List eight times and enjoys sharing the lessons he’s learned from his years studying iconic companies. In his new book, Pattern Breakers: Why Some Start-Ups Change the Future, co-authored with Peter Ziebelman,he discusses what he’s found separates startups and founders that break through and change the world from those that don’t. After spending years reviewing the notes and decks from the thousands of startups he’s known over the past two decades, he’s uncovered three ways that breakthrough founders think and act differently. In our conversation, Mike talks about:

• The three elements of breakthrough startup ideas

• Why you need to both think and act differently

• How to avoid the “comparison trap” and “conformity trap”

• The importance of movements, storytelling, and healthy disagreeableness in startup success

• How to apply pattern-breaking principles within large companies

• Mike’s one piece of advice for founders

• Much more

Pre-order Mike’s book here and get a second signed copy for free. Limited copies are available, so order ASAP: patternbreakers.com/lenny.

—

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Find the transcript at: https://www.lennysnewsletter.com/p/how-to-find-a-great-startup-idea-mike-maples-jr

—

Where to find Mike Maples, Jr.:

• X: https://x.com/m2jr

• LinkedIn: https://www.linkedin.com/in/maples/

• Substack: https://greatness.substack.com/

• Website: https://www.floodgate.com/

—

Where to find Lenny:

• Newsletter: https://www.lennysnewsletter.com

• X: https://twitter.com/lennysan

• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

—

In this episode, we cover:

(00:00) Mike’s background

(03:10) The inspiration behind Pattern Breakers

(08:09) Uncovering startup insights

(11:37) A quick summary of Pattern Breakers

(13:52) Coming up with an idea

(15:30) Inflections

(17:09) Examples of inflections

(28:10) Insights

(36:58) The power of surprises

(47:36) Founder-future fit

(55:33) Advice for aspiring founders

(56:41) Living in the future: valid opinions

(55:34) Case study: Maddie Hall and Living Carbon

(58:40) Identifying lighthouse customers

(01:00:53) The importance of desperation in customer needs

(01:03:57) Creating movements and storytelling

(01:24:22) The role of disagreeableness in startups

(01:34:42) Applying these principles within a company

(01:40:43) Lightning round

—

Referenced:

• Pattern Breakers: Why Some Start-Ups Change the Future: https://www.amazon.com/Pattern-Breakers-Start-Ups-Change-Future/dp/1541704355

• Justin.tv: https://en.wikipedia.org/wiki/Justin.tv

• Airbnb’s CEO says a $40 cereal box changed the course of the multibillion-dollar company: https://fortune.com/2023/04/19/airbnb-ceo-cereal-box-investors-changed-everything-billion-dollar-company/

• Brian Chesky’s new playbook: https://www.lennysnewsletter.com/p/brian-cheskys-contrarian-approach

• The Unconventional Exit: How Justin Kan Sold His First Startup on eBay: https://medium.datadriveninvestor.com/the-unconventional-exit-how-justin-kan-sold-his-first-startup-on-ebay-4d705afe1354

• Kyle Vogt on LinkedIn: https://www.linkedin.com/in/kylevogt/

• The State of Telehealth Before and After the COVID-19 Pandemic: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9035352/

• The Craigslist Killers: https://www.gq.com/story/craigslist-killers

• The social radar: Y Combinator’s secret weapon | Jessica Livingston (co-founder of Y Combinator, author, podcast host): https://www.lennysnewsletter.com/p/the-social-radar-jessica-livingston

• Michael Seibel on LinkedIn: https://www.linkedin.com/in/mwseibel/

• The Airbnb Story: How Three Ordinary Guys Disrupted an Industry, Made Billions ... and Created Plenty of Controversy: https://www.amazon.com/Airbnb-Story-Ordinary-Disrupted-Controversy/dp/0544952669

• Scott Cook: https://www.forbes.com/profile/scott-cook/

• Chegg: https://www.chegg.com/

• Aayush Phumbhra on LinkedIn: https://www.linkedin.com/in/aayush/

• Osman Rashid on LinkedIn: https://www.linkedin.com/in/osmanrashid/

• Okta: https://www.okta.com/

• The Man Who Makes the Future: Wired Icon Marc Andreessen: https://www.wired.com/2012/04/ff-andreessen/

• Peter Ludwig on LinkedIn: https://www.linkedin.com/in/peterwludwig/

• Qasar Younis on LinkedIn: https://www.linkedin.com/in/qasar/

• Paul Allen’s website: https://paulallen.com/

• Louis Pasteur quote: https://www.forbes.com/quotes/6145/

• What was Atrium and why did it fail? https://www.failory.com/cemetery/atrium

• Patrick Collison on LinkedIn: https://www.linkedin.com/in/patrickcollison/

• Drew Houston on LinkedIn: https://www.linkedin.com/in/drewhouston/

• William Gibson’s quote: https://www.goodreads.com/quotes/681-the-future-is-already-here-it-s-just-not-evenly

• Maddie Hall on LinkedIn: https://www.linkedin.com/in/maddie-hall-76293135/

• Living Carbon: https://www.livingcarbon.com

• Zenefits (now Trinet): https://connect.trinet.com/

• Sam Altman on X: https://x.com/sama

• Steve Wozniak on LinkedIn: https://www.linkedin.com/in/wozniaksteve/

• Horsley Bridge Partners: https://www.horsleybridge.com/

• David Swensen: https://en.wikipedia.org/wiki/David_F._Swensen

• Judith Elsea on LinkedIn: https://www.linkedin.com/in/judithelsea/

• 7 Powers: The Foundations of Business Strategy: https://www.amazon.com/7-Powers-Foundations-Business-Strategy/dp/0998116319

• Business strategy with Hamilton Helmer (author of 7 Powers): https://www.lennysnewsletter.com/p/business-strategy-with-hamilton-helmer

• Lyft’s Focus on Community and the Story Behind the Pink Mustache: https://techcrunch.com/2012/09/17/lyfts-focus-on-community-and-the-story-behind-the-pink-mustache/

• Logan Green on LinkedIn: https://www.linkedin.com/in/logangreen/

• John Zimmer on LinkedIn: https://www.linkedin.com/in/johnzimmer11/

• Storytelling with Nancy Duarte: How to craft compelling presentations and tell a story that sticks: https://www.lennysnewsletter.com/p/storytelling-with-nancy-duarte-how

• Steve Jobs Introducing the iPhone at MacWorld 2007: https://www.youtube.com/watch?v=x7qPAY9JqE4

• Jonathan Livingston Seagull: https://www.amazon.com/Jonathan-Livingston-Seagull-Richard-Bach/dp/0743278909

• The paths to power: How to grow your influence and advance your career | Jeffrey Pfeffer (author of 7 Rules of Power, professor at Stanford GSB): https://www.lennysnewsletter.com/p/the-paths-to-power-jeffrey-pfeffer

• Robin Roberts on LinkedIn: https://www.linkedin.com/in/robin-roberts-393a934b/

• Skunkworks: https://www.lockheedmartin.com/en-us/who-we-are/business-areas/aeronautics/skunkworks.html

• Vision, conviction, and hype: How to build 0 to 1 inside a company | Mihika Kapoor (Product at Figma): https://www.lennysnewsletter.com/p/vision-conviction-hype-mihika-kapoor

• Hard-won lessons building 0 to 1 inside Atlassian | Tanguy Crusson (Head of Jira Product Discovery): https://www.lennysnewsletter.com/p/building-0-to-1-inside-atlassian-tanguy-crusson

• Figma: https://www.figma.com/

• Atlassian: https://www.atlassian.com/

• Vinod Khosla: https://www.khoslaventures.com/team/vinod-khosla/

• Top Five Regrets of the Dying: A Life Transformed by the Dearly Departing: https://www.amazon.com/Top-Five-Regrets-Dying-Transformed-ebook/dp/B07KNRLY1L

• Chase, Chance, and Creativity: The Lucky Art of Novelty: https://www.amazon.com/Chase-Chance-Creativity-Lucky-Novelty/dp/0262511355

• Clay Christensen’s books: https://www.amazon.com/stores/Clayton-M.-Christensen/author/B000APPD3Y

• Resonate: Present Visual Stories That Transform: https://www.amazon.com/Resonate-Present-Stories-Transform-Audiences/dp/0470632011

• Ferrari on Prime: https://www.amazon.com/Ferrari-Adam-Driver/dp/B0CNDBN672

• Montblanc fountain pens: https://www.montblanc.com/en-us

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How to Take Over the World

Key Takeaways * Check out Ben’s website

Read the full notes @ podcastnotes.org

"When I was a child, my mother said to me, If you are a soldier, you will become a general. If you are a monk, you will become the pope. Instead, I was a painter And became Picasso."

What made Picasso such a great artist? And what made him such a legend both in his own time, and since his death? On this episode, we explore Picasso's life, his art, his impact, and the strategies he used to take over the art world.

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How to Take Over the World

Key Takeaways * Following your curiosity is the best approach for making scientific discoveries * Some of Ben Franklin’s favorite quotes: + “Early to bed and early to rise makes a man healthy, wealthy, and wise.” + “Three may keep a secret, if two of them are dead.” + “Lost time is never found again.” + “Love your enemies for they tell you your faults.” + “Fish and visitors stink in three days.” * Learn how to turn disadvantages and obstacles into advantages * Benjamin Franklin made a key edit to Thomas Jefferson’s draft of the Declaration of Independence regarding the phrase “self-evident” + This change was significant because it emphasized the idea that the truths stated in the Declaration—such as equality and unalienable rights—are universally and intuitively understood, not dependent on external validation * Work hard, stay curious, and be fun-loving

Read the full notes @ podcastnotes.org

Benjamin Franklin was one of the greatest scientists, writers, diplomats, and statesmen of all time. How does one man accomplish so much in one life?
Well, he was also the first self-help guru of all time. On this episode, we examine the life of Benjamin Franklin, and the tools he used to become the world's first self-made man.

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Sources:
The Autobiography of Benjamin Franklin
Benjamin Franklin: An American Life

Writing, research, and production by Ben Wilson
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Conversations with Tyler

Intro * One person’s freedom is another person’s unfreedom * Unanimity theorem, also known as the Stiglitz-Greenwald theorem, posits that in the presence of incomplete markets and imperfect information, the competitive equilibrium is generally not Pareto efficient * Sharecropping can create poor incentives for tenants to work hard or invest in land improvement because they only receive a fraction of the output, leading to lower agricultural productivity compared to other forms of land tenure * Cities can achieve optimal sizes by balancing the benefits of agglomeration economies (such as increased productivity and innovation due to proximity) against the costs (such as congestion and pollution) * Carefully designed tax policies and urban planning can help cities grow in a way that maximizes economic efficiency and equity * Markets cannot be perfectly efficient because if prices fully reflect all available information, there would be no incentive for traders to acquire information, leading to a paradox * Markets are not very good at pricing risk into the decision-making process * Credit availability of monetary policy is what matters – not the money supply or interest rate * Hierarchies are particularly problematic when the people the at the top of them are not good decision makers

Read the full notes @ podcastnotes.org

Nobel Prize-winning economist Joseph Stiglitz joined Tyler for a discussion that weaves through Joe’s career and key contributions, including what he learned from giving an 8-lecture in Japan, how being a debater influenced his intellectual development, why he tried to abolish fraternities at Amherst, how studying Kenyan sharecropping led to one of his most influential papers, what he thinks today of Georgism and the YIMBY movement, why he was too right-wing for Cambridge, why he left Gary, Indiana, his current views on high trading volumes and liquidity, the biggest difference between him and Paul Krugman, what working in Washington, DC taught him about hierarchies, what he’ll do next, and more.

Read a full transcript enhanced with helpful links, or watch the full video.

Recorded April 22nd, 2024.

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Founders✓Claim

Key Takeaways * Support David Senra and get access to the world’s most valuable notebook for founders

Read the full notes @ podcastnotes.org

What I learned from reading Sam Walton: The Inside Story of America's Richest Man by Vance Trimble.

Founders Notes gives you the superpower to learn from history's greatest entrepreneurs on demand. You can search all my notes and highlights from every book I've ever read for the podcast.

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(2:30) Sam Walton built his business on a very simple idea: Buy cheap. Sell low. Every day. With a smile.

(2:30) People confuse a simple idea with an ordinary person. Sam Walton was no ordinary person.

(4:30) Traits Sam Walton had his entire life: A sense of duty. Extreme discipline. Unbelievable levels of endurance.

(5:30) His dad taught him the secret to life was work, work, work.

(5:30) Sam felt the world was something he could conquer.

(6:30) The Great Depression was a big leveler of people. Sam chose to rise above it. He was determined to be a success.

(11:30) 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. — Sam Walton: Made In America by Sam Walton. (Founders #234)

(15:30) He was crazy about satisfying customers.

(17:30) The lawyer saw Sam clenching and unclenching his fists, staring at his hands. Sam straightened up. “No,” he said. “I’m not whipped. I found Newport, and I found the store. I can find another good town and another store. Just wait and see!”

(21:30) Sometimes hardship can enlighten and inspire. This was the case for Sam Walton as he put in hours and hours of driving Ozark mountain roads in the winter of 1950. But that same boredom and frustration triggered ideas that eventually brought him billions of dollars. (This is when he learns to fly small planes. Walmart never happens otherwise)

(33:30) At the start we were so amateurish and so far behind K Mart just ignored us. They let us stay out here, while we developed and learned our business. They gave us a 10 year period to grow.

(37:30) And so how dedicated was Sam to keeping costs low? Walmart is called that in part because fewer letters means cheaper signs on the outside of a store.

(42:30) Sam Walton is tough, loves a good fight, and protects his territory.

(43:30) His tactics later prompted them to describe Sam as a modern-day combination of Vince Lombardi (insisting on solid execution of the basics) and General George S. Patton. (A good plan, violently executed now, is better than a perfect plan next week.)

(43:30) Hardly a day has passed without Sam reminding an employee: "Remember Wal-Mart's Golden Rule: Number one, the customer Is always right; number two, if the customer isn't right, refer to rule number one.”

(46:30) The early days of Wal-Mart were like the early days of Disneyland: "You asked the question, What was your process like?' I kind of laugh because process is an organized way of doing things. I have to remind you, during the 'Walt Period' of designing Disneyland, we didn't have processes. We just did the work. Processes came later. All of these things had never been done before. Walt had gathered up all these people who had never designed a theme park, a Disneyland.

So we're in the same boat at one time, and we figure out what to do and how to do it on the fly as we go along with it and not even discuss plans, timing, or anything.

We just worked and Walt just walked around and had suggestions. — Disney's Land: Walt Disney and the Invention of the Amusement Park That Changed the World by Richard Snow. (Founders #347)

(1:04:30) Sam Walton said he took more ideas from Sol Price than any other person. —Sol Price: Retail Revolutionary by Robert Price. (Founders #304)

(1:07:30) Nothing in the world is cheaper than a good idea without any action behind it.

(1:07:30) Sam Walton: Made In America (Founders #234)

“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

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Artificial Intelligence Podcast

Key Takeaways * Hardship will show you who your real friends are; don’t eat with people that you wouldn’t starve with * On evolving: You do something for awhile, you do it at the highest possible level for you, and then at some point you pivot and start supporting the young talent that eventually emerges * For certain individuals, high-THC cannabis can induce psychosis * The Jungian shadow is the unconscious part of the personality that holds repressed weaknesses, desires, and instincts + Integrating the shadow is essential for personal growth, as it involves acknowledging these hidden aspects to achieve a more balanced and complete self-awareness * Being in a state of silence – either while sitting or walking – can help you to discover a better understanding of yourself and allow you to really tap into your unique gifts * Nicotine is an interesting compound; it will raise blood pressure, and it is probably not safe for everybody * While Andrew does not recommend for people to use nicotine frequently, or at all – especially young people who are 25-years-old or younger – he will allow himself two pieces of Nicorette total, per week * Just because a compound is a pharmaceutical does not mean that it is “bad” * On fostering meaningful relationships: Obviously pick the right partner, but also do the work on yourself

Read the full notes @ podcastnotes.org

Andrew Huberman is a neuroscientist at Stanford and host of the Huberman Lab Podcast. Please support this podcast by checking out our sponsors:
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OUTLINE:
Here's the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time.
(00:00) - Introduction
(10:24) - Quitting and evolving
(17:22) - How to focus and think deeply
(19:56) - Cannabis drama
(30:08) - Jungian shadow
(40:35) - Supplements
(43:38) - Nicotine
(48:01) - Caffeine
(49:48) - Math gaffe
(1:06:50) - 2024 presidential elections
(1:13:47) - Great white sharks
(1:22:32) - Ayahuasca & psychedelics
(1:37:33) - Relationships
(1:45:08) - Productivity
(1:53:58) - Friendship

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Aarthi and Sriram's Good Time Show✓Claim

Show Notes:

(0:00) Audio issue

(0:51) Introduction

(3:40) Deals are long-term relationships

(6:02) Facebook-WhatsApp acquisition story

(12:04) The most important part of deal-making

(16:44) Don’t come off as desperate

(19:35) Maintaining momentum during a deal

(25:53) Know everything about the person you’re dealing with

(33:37) How we closed our London home

(37:54) Mistakes we often see

(44:40) Managing emotions while deal-making

(50:19) What to do if the deal falls through

Other episodes you might enjoy:

EP 76 - How To Fix Legal Immigration In America

EP 74 - How To Fix Google's WOKE AI Disaster

EP 63 - Lessons From Networking In Silicon Valley

EP 59 - Why We Moved to London, The Elon Musk Book, Should You Get An MBA

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Modern Wisdom

Key Takeaways * Check out the episode page

Read the full notes @ podcastnotes.org

George Mack is a writer, marketer and an entrepreneur.
George is one of my favourite writers and probably delivers the highest insights-per-minute of anyone on Twitter. Today we get to go through some of my favourite ideas from him over the last few months on human nature, tribalism, happiness and politics.
Expect to learn what the Busy Trap is and how to avoid it, the biggest differences between the US and the UK, the contrarian argument for why money doesn’t buy happiness, why strategic ignorance is so important, George’s favourite story about Charlie Munger, the lessons we both learned celebrating George’s 30th birthday in Miami and much more...
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Episodes You Might Enjoy:

577 - David Goggins - This Is How To Master Your Life: http://tinyurl.com/43hv6y59

712 - Dr Jordan Peterson - How To Destroy Your Negative Beliefs: http://tinyurl.com/2rtz7avf

700 - Dr Andrew Huberman - The Secret Tools To Hack Your Brain: http://tinyurl.com/3ccn5vkp

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Knowledge Project

Key Takeaways * Check out the episode page

Read the full notes @ podcastnotes.org

Succeeding in both life and business is very difficult. The skills needed to scale a company often clash with those required to cultivate a thriving home life. Yet, Brent Beshore seems to have cracked the code—or at least he's actively working on it. In this conversation, he spills his secrets on excelling in both arenas.

This episode is split into two parts: the first 45 minutes covers life and how to be a better person. Brent opens up about the evolution of his marriage, physical health, and inner life.

The rest of the episode focuses on business. Shane and Beshore discuss private equity, how to hire (and when to fire) CEOs, incentives, why debt isn’t a good thing in an unpredictable world, stewardship versus ownership, and why personality tests are so important for a functional organization.
After beginning his career as an entrepreneur, Brent Beshore founded Permanent Equity in 2007 and leads the firm as CEO. He works with investors and operators to evaluate new investment opportunities.

Watch the episode on YouTube: https://www.youtube.com/c/theknowledgeproject/videos

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(00:00) Intro

(05:08) Why Brent examined his life

(09:44) How Brent "fixed" his relationships

(20:04) How helping hurts

(32:13) How Brent was subtly controlling relationships

(40:36) Why Brent stopped drinking (mostly)

(50:29) How to run a business with love yet competitively

(01:00:34) Win-win relationships

(01:05:34) On debt

(01:19:28) On incentives

(01:29:08) How to hire and fire CEOs

(01:34:18) What most people miss about hiring

(01:44:19) Brent's playbook for taking over a company

(01:51:20) On projections

(01:55:52) Revisiting investments

(01:58:44) How "hands-off" is Brent?

(02:08:34) Where people go wrong in private equity

(02:14:07) On success

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Infinite Loops

Key Takeaways * “Uncertainty is the only certainty.” – John Paulos * People use terms like millions, billions, and trillions as if they are the same thing; when in reality, these are vastly different amounts! * “We live in a probabilistic world, and yet we remain deterministic thinkers.” – Jim O’Shaughnessy * The Law of Large Numbers is a fundamental principle in probability and statistics that states that as the size of a sample increases, the average of the sample becomes closer to the expected value * Apophenia: The phenomenon of seeing patterns where none exist as a form of cognitive bias or psychological tendency * Humans are excellent pattern-recognition machines; but sometimes, we wrongly attribute patterns to random data that can lead us astray * The human operating system is more driven by the emotional centers of the brain than the rational centers of the brain * There is a tension between objective likelihood (probability) and subjective belief or reasonableness (plausibility) * The Prisoner’s Dilemma is a scenario in game theory where two individuals acting in their self-interest end up with a worse outcome than if they had cooperated * Cognitive foibles such as confirmation bias, the anchoring effect, and negativity bias should be taught in mathematical courses * Dunning-Kruger Effect: The phenomenon where people with low ability at a task overestimate their ability, while those with high ability underestimate their competence * The concept of “nudging” involves subtly influencing people’s decisions by altering the presentation of choices without restricting options or significantly changing incentives * It is wise to develop a particular skepticism and wariness about the uncertainties of life

Read the full notes @ podcastnotes.org

Professor, Mathematician and Writer John A. Paulos joins the show to discuss math education, the power of puzzles, cognitive biases, and MUCH more!

Important Links:

• John’s Website
• John’s Twitter

Show Notes:

• Why Do People Hate Math?
• The Power of Posing Problems with Counterintuitive or Shocking Results
• Using Everyday Examples to Understand Math Concepts
• Systems Designed to Take Advantage of Innumeracy
• People’s Ignorance of Randomness and Random Samples
• The Strange Power of Anchoring Bias
• Tradeoffs between Probability and Plausibility
• The Prisoner’s Dilemma & Math Anxiety
• Improving the Monty Hall Problem
• Designing an Ideal Intro Math Course
• The Big Brother Aspect of Nudging
• John as Emperor of the World
• MORE!

Books Mentioned:

• Innumeracy - Mathematical Illiteracy and Its Consequences; by J.A. Paulos
• A Mathematician Plays the Stock Market; by J.A. Paulos
• A Mathematician Reads the Newspaper; by J.A. Paulos
• Statistics; by D.A. Freedman, R. Pisani, and R.A. Purves
• Thinking Fast and Slow; by Daniel Kahneman

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Invest Like the Best

Key Takeaways * Leaders must “work up” through osmosis; do not assume that your messages are distributed throughout the company without intention and effort * Most organizations tell the leadership team what they want to hear; this can prevent the executive team from actually understanding what is happening within their own company * The most effective ways to communicate are through stories, celebration, and recognition * Great leaders are high energy and are willing to tolerate disagreement * As a leader, people want a piece of you; you must think about how you show them that you are invested in their success * Leaders must be open to understanding what they do not know * Every employee should understand what their CEO wants from them * “To be a successful leader, you got to allocate capital right and allocate human resources right. If you do those two things right, everything else will fall into place. If you do them wrong – you can do everything else right, you can have great culture, all the rest – it’s not going to matter.” – Frank Blake * Vision is powerful, but execution is even more so powerful

Read the full notes @ podcastnotes.org

My guest today is Frank Blake. Frank is the former chairman and CEO of Home Depot. I recently interviewed Home Depot co-founder Ken Langone and became fascinated by the business’s impressive lineup of leaders through the decades. Frank led the company from 2007 to 2014 and shares how he carried on the legacy of Ken and the others, upholding their culture of an inverted hierarchy and producing seven consecutive years of growth for the largest home improvement retailer in America. We discuss his hyper focus on solving their customer’s problems before their own, investing time into the employee experience, and his intentionality with how he is perceived as a leader. Please enjoy this discussion with Frank Blake.

Listen to Founders Podcast
For the full show notes, transcript, and links to mentioned content, check out the episode page here.

This episode is brought to you by Tegus, where we're changing the game in investment research. Step away from outdated, inefficient methods and into the future with our platform, proudly hosting over 100,000 transcripts – with over 25,000 transcripts added just this year alone. Our platform grows eight times faster and adds twice as much monthly content as our competitors, putting us at the forefront of the industry. Plus, with 75% of private market transcripts available exclusively on Tegus, we offer insights you simply can't find elsewhere. See the difference a vast, quality-driven transcript library makes. Unlock your free trial at tegus.com/patrick.

Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.
Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @patrick_oshag | @JoinColossus
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).
Show Notes:
(00:00:00) Welcome to Invest Like the Best
(00:04:37) The Inverted Pyramid Leadership Model
(00:08:38) Communication and Listening in Leadership
(00:15:19) Lessons from Legacies of Great Home Depot Leaders
(00:27:02) Frank’s Personal Leadership Journey
(00:33:32) Reagan's Leadership Style and Influence
(00:37:26) Key Responsibilities of a CEO
(00:40:27) Delta's Leadership During COVID-19
(00:46:45) Financial Strategies in Asset-Intensive Industries
(00:47:27) Home Depot's Strategic Shift
(00:53:33) Competitive Dynamics with Lowe's
(00:55:36) Building an Effective Board
(00:58:16) The Impact of Home Depot on Employees' Lives
(01:01:52) The Kindest Thing Anyone Has Ever Done for Frank

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Invest Like the Best

Key Takeaways * Check out the episode page

Read the full notes @ podcastnotes.org

My guest today is Adam Sandow. Adam is the chairman and CEO of SANDOW Companies and the executive chairman and founder of Material Bank. He has built an entire ecosystem of businesses and brands that have brought him into the game of media, materials, and beyond. From creating the beauty product subscription model to getting magazines in the hands of billionaires to transforming the design industry with overnight access to samples, when Adam starts a business he writes his own rulebook. We discuss the founding stories of his most interesting companies, his obsession with targeting pain points, and his philosophies for when to go all in and betting on himself. Please enjoy this great discussion with Adam Sandow.

Listen to Founders Podcast
For the full show notes, transcript, and links to mentioned content, check out the episode page here.

This episode is brought to you by Tegus, where we're changing the game in investment research. Step away from outdated, inefficient methods and into the future with our platform, proudly hosting over 100,000 transcripts – with over 25,000 transcripts added just this year alone. Our platform grows eight times faster and adds twice as much monthly content as our competitors, putting us at the forefront of the industry. Plus, with 75% of private market transcripts available exclusively on Tegus, we offer insights you simply can't find elsewhere. See the difference a vast, quality-driven transcript library makes. Unlock your free trial at tegus.com/patrick.

Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.
Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @patrick_oshag | @JoinColossus
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).
Show Notes:
(00:00:00) Welcome to Invest Like the Best
(00:04:12) Building a Media Empire
(00:06:01) The Birth of the Beauty Subscription Model
(00:09:56) Revolutionizing Magazine Circulation
(00:14:46) The Contrarian Approach to Media
(00:16:08) The Origin of MediaJet
(00:18:35) The Future of Print and Digital Media
(00:27:25) The Genesis of Material Bank
(00:35:23) Building a Compelling Model for Manufacturers
(00:37:26) Innovative Logistics and Partnership with FedEx
(00:40:32) The Importance of High-Quality Content
(00:43:49) Building and Buying Media Properties
(00:46:01) Creating Unique Value Propositions
(00:54:22) The Role of Print in the Digital Age
(00:58:41) Nurturing an Ecosystem of Businesses
(01:03:37) The Kindest Thing Anyone Has Ever Done for Adam

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Founders✓Claim

Key Takeaways * Check out the episode page

Read the full notes @ podcastnotes.org

What I learned from reading about Hans Wilsdorf and the founding of Rolex.

Build relationships at the Founders Conference on July 29th-July 31st in Scotts Valley, California

"Learning from history is a form of leverage." — Charlie Munger. Founders Notes gives you the superpower to learn from history's greatest entrepreneurs on demand.

Get access to Founders Notes here.

You can search all my notes and highlights from every book I've ever read for the podcast.

You can also ask SAGE any question and SAGE will read all my notes, highlights, and every transcript from every episode for you.

A few questions I've asked SAGE recently:

What are the most important leadership lessons from history's greatest entrepreneurs?

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What are some strategies that Cornelius Vanderbilt used against his competitors?

Get access to Founders Notes here.

(0:01) At the age of twelve I was an orphan.

(1:00) My uncles made me become self-reliant very early in life. Looking back, I believe that it is to this, that much of my success is due.

(9:00)The idea of wearing a watch on one's wrist was thought to be contrary to the conception of masculinity.

(10:00) Prior to World War 1 wristwatches for men did not exist.

(11:00) Business is problems. The best companies are just effective problem solving machines.

(12:00) My personal opinion is that pocket watches will almost completely disappear and that wrist watches will replace them definitively! I am not mistaken in this opinion and you will see that I am right." —Hans Wilsdorf, 1914

(14:00) The highest order bit is belief: I had very early realized the manifold possibilities of the wristlet watch and, feeling sure that they would materialize in time, I resolutely went on my way. Rolex was thus able to get several years ahead of other watch manufacturers who persisted in clinging to the pocket watch as their chief product.

(16:00) Clearly, the companies for whom the economics of twenty-four-hour news would have made the most sense were the Big Three broadcasters. They already had most of what was needed— studios, bureaus, reporters, anchors almost everything but a belief in cable. — Ted Turner's Autobiography (Founders #327)

(20:00) Business Breakdowns #65 Rolex: Timeless Excellence

(27:00) Rolex was effectively the first watch brand to have real marketing dollars put behind a watch. Rolex did this in a concentrated way and they've continued to do it in a way that is simply just unmatched by others in their industry.

(28:00) It's tempting during recession to cut back on consumer advertising. At the start of each of the last three recessions, the growth of spending on such advertising had slowed by an average of 27 percent. But consumer studies of those recessions had showed that companies that didn't cut their ads had, in the recovery, captured the most market share. So we didn't cut our ad budget. In fact, we raised it to gain brand recognition, which continued advertising sustains. — Four Seasons: The Story of a Business Philosophy by Isadore Sharp. (Founders #184)

(32:00) Social proof is a form of leverage. — Poor Charlie's Almanack: The Wit and Wisdom of Charlie Munger. (Founders #329)

(34:00) What really matters is Hans understood the opportunity better than anybody else, and invested heavily in developing the technology to bring his ideas to fruition.

(35:00) On keeping the main thing the main thing for decades: In developing and extending my business, I have always had certain aims in mind, a course from which I never deviated.

(41:00) Rolex wanted to only be associated with the best. They ran an ad with the headline: Men who guide the destinies of the world, where Rolex watches.

(43:00) Opportunity creates more opportunites. The Oyster unlocked the opportunity for the Perpetual.

(44:00) The easier you make something for the customer, the larger the market gets: “My vision was to create the first fully packaged computer. We were no longer aiming for the handful of hobbyists who liked to assemble their own computers, who knew how to buy transformers and keyboards. For every one of them there were a thousand people who would want the machine to be ready to run.” — Steve Jobs

(48:00) More sources:

Rolex Jubilee: Vade Mecum by Hans Wilsdorf

Rolex Magazine: The Hans Wilsdorf Years

Hodinkee: Inside the Manufacture. Going Where Few Have Gone Before -- Inside All Four Rolex Manufacturing Facilities

Vintage Watchstraps Blog: Hans Wilsdorf and Rolex

Business Breakdowns #65 Rolex: Timeless Excellence

Luxury Strategy: Break the Rules of Marketing to Build Luxury Brands by Jean Noel Kapferer and Vincent Bastien

“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

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Knowledge Project

The skills it takes to get rich are drastically different from the skills it takes to stay rich. Few understand this phenomenon more than Morgan Housel. He's identified unique lessons about wealth, happiness, and money by studying the world's richest families and learning what they did to build their wealth and just how quickly they squandered it all.
In this conversation, Shane and Housel discuss various aspects of risk-taking, wealth accumulation, and financial independence. Morgan explains the importance of understanding personal financial goals and the dangers of social comparison, lets everyone in on his personal financial “mistake” that instantly made him sleep better at night, and why the poorest people in the world disproportionately play the lottery—and why it makes sense that they do. They also touch on the influence of upbringing on financial behaviors, the difference between being rich and wealthy, and the critical role of compounding in financial success. Of course, we can’t have a writer as good as Morgan Housel on the podcast and not ask him about his process, so Housel concludes with insights into storytelling, his writing processes, and the importance of leading by example in teaching financial values to children.
Morgan Housel is a partner at Collaborative Fund. Previously, he was an analyst at The Motley Fool. He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers and was selected by the Columbia Journalism Review for the Best Business Writing anthology. He's the author of two books: The Psychology of Money and Same as Ever.
Watch the episode on YouTube: ⁠https://www.youtube.com/c/theknowledgeproject/videos⁠

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(00:00) Intro

(04:46) Risk and income

(07:40) On luck and skill

(10:10) Buffett's secret strategy

(12:28) The one trait you need to build wealth

(16:20) Housel's capital allocation strategy

(16:48) Index funds, explained

(20:59) Expectations and moving goalposts

(22:17) Your house: asset or liability?

(27:39) Money lies we believe

(32:12) How to avoid status games

(35:04) Money rules from parents

(40:15) Rich vs. wealthy

(41:46) Housel's influential role models

(42:48) Why are rich people miserable?

(45:59) How success sows the seeds of average performance

(49:50) On risk

(50:59) Making money, spending money, saving money

(52:50) How the Vanderbilt's squandered their wealth

(1:04:11) How to manage your expectations

(01:06:26) How to talk to kids about money

(01:09:52) The biggest risk to capitalism

(01:13:56) The magic of compounding

(01:16:18) How Morgan reads

(01:22:42) How to tell the best story

(01:24:42) How Morgan writes

(01:35:42) Parting wisdom and thoughts on success

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Founders✓Claim

Key Takeaways * Business is sales; you are always selling * A person can have the greatest idea in the world, but if that person cannot convince enough other people about it, then it doesn’t matter * Sell the improvement that your products make and sell the better future that your customers will receive if they use your product * Advertising must promise a benefit to the customer * Repetition is persuasive * Entrepreneurs must learn how to tell a story about their business because that is how money works; money flows as a function of the story * Start your presentation with the problem; do not start with the product * Most business communicators lose sight of the fact that their audiences want to be informed and entertained * Identify what you are most passionate about, and then share that belief with your audience

Read the full notes @ podcastnotes.org

What I learned from reading The Presentation Secrets of Steve Jobs: How to Be Insanely Great in Front of Any Audience by Carmine Gallo

Come build relationships at the Founders Conference on July 29th-July 31st in Scotts Valley, California

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A few questions I've asked SAGE recently:

What are the most important leadership lessons from history's greatest entrepreneurs?

Can you give me a summary of Warren Buffett's best ideas? (Substitute any founder covered on the podcast and you'll get a comprehensive and easy to read summary of their ideas)

How did Edwin Land find new employees to hire? Any unusual sources to find talent?

What are some strategies that Cornelius Vanderbilt used against his competitors?

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If you want me to speak at your company go here.

(1:00) You've got to start with the customer experience and work back toward the technology—not the other way around. —Steve Jobs in 1997

(6:00) Why should I care = What does this do for me?

(6:00) The Match King: Ivar Kreuger, The Financial Genius Behind a Century of Wall Street Scandals by Frank Partnoy. (Founders #348)

(7:00) Easy to understand, easy to spread.

(8:00) An American Saga: Juan Trippe and His Pan Am Empire by Robert Daley

(8:00) The Fish That Ate the Whale: The Life and Times of America's Banana King by Rich Cohen. (Founders #255)

(9:00) love how crystal clear this value proposition is. Instead of 3 days driving on dangerous road, it’s 1.5 hours by air. That’s a 48x improvement in time savings. This allows the company to work so much faster. The best B2B companies save businesses time.

(10:00) Great Advertising Founders Episodes:

Albert Lasker (Founders #206)

Claude Hopkins (Founders #170 and #207)

David Ogilvy (Founders #82, 89, 169, 189, 306, 343)

(12:00) Advertising which promises no benefit to the consumer does not sell, yet the majority of campaigns contain no promise whatever. (That is the most important sentence in this book. Read it again.) — Ogilvy on Advertising

(13:00) Repeat, repeat, repeat. Human nature has a flaw. We forget that we forget.

(19:00) Start with the problem. Do not start talking about your product before you describe the problem your product solves.

(23:00) The Invisible Billionaire: Daniel Ludwig by Jerry Shields. (Founders #292)

(27:00) Being so well known has advantages of scale—what you might call an informational advantage.

Psychologists use the term social proof. We are all influenced-subconsciously and, to some extent, consciously-by what we see others do and approve.

Therefore, if everybody's buying something, we think it's better.

We don't like to be the one guy who's out of step.

The social proof phenomenon, which comes right out of psychology, gives huge advantages to scale.

— the NEW Poor Charlie's Almanack: The Wit and Wisdom of Charlie Munger (Founders #329)

(29:00) Marketing is theatre.

(32:00) Belief is irresistible. — Shoe Dog: A Memoir by the Creator of Nike by Phil Knight. (Founders #186)

(35:00) I think one of the things that really separates us from the high primates is that we’re tool builders. I read a study that measured the efficiency of locomotion for various species on the planet. The condor used the least energy to move a kilometer. And, humans came in with a rather unimpressive showing, about a third of the way down the list. It was not too proud a showing for the crown of creation. So, that didn’t look so good. But, then somebody at Scientific American had the insight to test the efficiency of locomotion for a man on a bicycle. And, a man on a bicycle, a human on a bicycle, blew the condor away, completely off the top of the charts.

And that’s what a computer is to me. What a computer is to me is it’s the most remarkable tool that we’ve ever come up with, it’s the equivalent of a bicycle for our minds.

If you want me to speak at your company go 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

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What Bitcoin Did

Key Takeaways * Bitcoin is a technology for human empowerment; it enables better living through technology * You can have 100 opinions about everything that is wrong with the world, or you can focus on one thing and try to improve it; doing the latter may actually have an impact on upgrading the world * The solution to entrenched, systemic problems is the introduction of a new idea that goes viral * You change the world with elegant, diplomatic innovation, and not with hostile, full-frontal attacks * There is serious dysfunction all over the world: the answer is not to side with one party or politician against the other; the solution is to spread the Orange Wave * “Satoshi created a way. Satoshi gave it away. Satoshi went away.” – Michael Saylor * The more you know about economics and ethics, the more conservative and considerate you become about making changes to the protocol * You must consider the second-order effects and unintended consequences of implementing change * The focus should be on getting every powerful entity on earth to adopt bitcoin and converting potential enemies into friends * There is an explosion in global consensus that Bitcoin is an idea whose time has come * “Bitcoin is the most successful monetary protocol in the history of the world. It has gone from zero to $1.4 trillion in fifteen years. It looks like it’s on the path to go to $14 trillion, and I don’t know why it wouldn’t go to $140 trillion.” – Michael Saylor

Read the full notes @ podcastnotes.org

“I’m quite the optimist, I actually think that Bitcoin is going to succeed, it is succeeding, it’s succeeding as fast as it could reasonably succeed, and we ought to try to avoid the tendency to F with it.”
— Michael Saylor

Michael Saylor is the CEO of MicroStrategy. In this interview, we discuss ossification, user rights, sovereignty, funding Bitcoin development, the political war over digital asset regulation, and the sly roundabout revolution.

This episode’s sponsors:

IREN - Bitcoin Mining. Done Sustainably
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Jocko Podcast

Key Takeaways * You must account for your emotional state at the time in which you make a decision * Understand your instincts, and then lean in the other direction so that you are getting a more balanced approach * You fail when you receive valuable feedback, but choose to ignore it * Do not assume that your enemy thinks in a similar way that you do * Resist black-and-white thinking; you must learn to operate in the gray areas * Your team must know why they are being told to do something * Do not be extreme in your assessment * “Prioritize relationships. If you prioritize relationships, everything else is going to go better.” – Jocko Willink * Do not underestimate your opponent’s will and do not overestimate your own will * You must have full-and-frank discussions and listen to the other side * Keep an open mind and change the course when things are not working

Read the full notes @ podcastnotes.org

>Join Jocko Underground<

Exploring 11 lessons in the book, "In Retrospect", to live a better more informed life.

Support this podcast at — https://redcircle.com/jocko-podcast/exclusive-content

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Starting Greatness with Mike Maples

Key Takeaways * Be non-consensus, but right: Great startups identify something that is missing in the future that no one else realizes is missing * Figure out what you want that you can’t already get, then build it * It is important for the founders of a company to truly want the thing that they are creating * You must be willing to have thoughts and say things that cause investors to say, “that is the dumbest thing that I’ve ever heard” * You can succeed with a consensus idea if you are willing to relentlessly out-execute everyone else, but it is going to be much harder than succeeding with a non-consensus idea * Seek honest feedback from users and consumers instead of seeking validation from them * Have a broad hypothesis, but be open to the non-obvious thing when it presents itself or when you discover it * Winning is a mindset that pervades all else * Err on the side of over-persistence; people tend to give up before they really give something a shot

Read the full notes @ podcastnotes.org

Emmett Shear was a gamer long before he helped define one of the most important new media companies at the intersection of gaming, media, and the creator economy. What can we learn from his success as a founder? (hint: it has something to do with truly listening to users.) Check out the new Pattern Breakers Blog at patternbreakers.substack.comfor even more Pattern Breaking content from Mike. You can also pre-orderMike's new book Pattern Breakers wherever you buy books.

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Founders✓Claim

Key Takeaways * Check out the episode page

Read the full notes @ podcastnotes.org

What I learned from reading Driven From Within by Michael Jordan and Mark Vancil.

Relationships run the world: Build relationships at Founders events

Get access to the World’s Most Valuable Notebook for Founders

You can read, reread, and search all my notes and highlights from every book I've ever read for the podcast.

You can also ask SAGE any question and SAGE will read all my notes, highlights, and every transcript from every episode for you.

A few questions I've asked SAGE recently:

What are the most important leadership lessons from history's greatest entrepreneurs?

Can you give me a summary of Warren Buffett's best ideas? (Substitute any founder covered on the podcast and you'll get a comprehensive and easy to read summary of their ideas)

How did Edwin Land find new employees to hire? Any unusual sources to find talent?

What are some strategies that Cornelius Vanderbilt used against his competitors?

Get access to Founders Notes here.

Episode Outline:

Players who practice hard when no one is paying attention play well when everyone is watching.

It's hard, but it's fair. I live by those words.

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.

You have to be uncompromised in your level of commitment to whatever you are doing, or it can disappear as fast as it appeared.

Look around, just about any person or entity achieving at a high level has the same focus. The morning after Tiger Woods rallied to beat Phil Mickelson at the Ford Championship in 2005, he was in the gym by 6:30 to work out. No lights. No cameras. No glitz or glamour. Uncompromised.

I knew going against the grain was just part of the process.

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.

I would wake up in the morning thinking: How am I going to attack today?

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.

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.

Get access to the World’s Most Valuable Notebook for Founders

You can read, reread, and search all my notes and highlights from every book I've ever read for the podcast.

You can also ask SAGE any question and SAGE will read all my notes, highlights, and every transcript from every episode for you.

A few questions I've asked SAGE recently:

What are the most important leadership lessons from history's greatest entrepreneurs?

Can you give me a summary of Warren Buffett's best ideas? (Substitute any founder covered on the podcast and you'll get a comprehensive and easy to read summary of their ideas)

How did Edwin Land find new employees to hire? Any unusual sources to find talent?

What are some strategies that Cornelius Vanderbilt used against his competitors?

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

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Modern Wisdom

Key Takeaways * Check out the episode page

Read the full notes @ podcastnotes.org

Tim Ferriss is an entrepreneur, author, and podcaster.
Tim is one of the world’s leading thinkers and his podcast recently crossed 1 billion downloads. Today get to hear his biggest lessons from 2 decades of hacking life and self-improvement.
Expect to learn Tim’s ultimate hack for productivity, what his morning routine looks like, what Tim thought would make him happier when he was younger but didn't, how to deal with depression, which books Tim most often gifts, Tim's best 10 exercises for health & longevity, his thoughts on the current state of podcasting, how to avoid the perils of audience capture, how to cultivate self belief, secrets to becoming a high-performer and much more...
Sponsors:
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Episodes You Might Enjoy:

577 - David Goggins - This Is How To Master Your Life: http://tinyurl.com/43hv6y59

712 - Dr Jordan Peterson - How To Destroy Your Negative Beliefs: http://tinyurl.com/2rtz7avf

700 - Dr Andrew Huberman - The Secret Tools To Hack Your Brain: http://tinyurl.com/3ccn5vkp

• Get In Touch:
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Invest Like the Best

Key Takeaways * Check out the episode page

Read the full notes @ podcastnotes.org

My guest today is Tim Ferriss. Tim is a writer, podcaster, and investor. He has written five best-selling books, has been an early-stage investor in Facebook, Uber, Shopify, & other household names, and is the host of one of the biggest podcasts in the world. He started The Tim Ferriss Show as an experiment in April 2014 and has deconstructed world-class performers ever since. Last year, his show crossed 1 billion downloads. Together, we deconstruct his podcast and approach to life. We talk about the art of interviewing, the business behind his podcast, and what motivates Tim to keep teaching through his writing and podcast. Please enjoy this great conversation with Tim Ferriss.

Check Out Invest America 2024
Listen to Founders Podcast
For the full show notes, transcript, and links to mentioned content, check out the episode page here.

This episode is brought to you by Tegus, the only investment research platform built for the investor. With traditional research vendors, the diligence process is slow, fragmented, and expensive. That leaves investors competing on how well they can aggregate data — not on their unique ability to analyze insights and make great investment decisions. Tegus offers an end-to-end platform with all the data you need to get up to speed on a company or market: up-to-the-minute financials, customizable models, management and culture checks, and, of course, our vast and growing library of expert call transcripts. Tegus is changing the world of expert research. Learn more and get your free trial at tegus.com/patrick.

Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.
Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @patrick_oshag | @JoinColossus
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

Show Notes:
(00:00:00) Welcome to Invest Like the Best
(00:03:32) The Evolution of Podcasting with Tim Ferriss
(00:09:56) Crafting Meaningful Conversations
(00:13:26) What Makes Tim Feel The Most Alive
(00:24:06) Who Tim Considers To Be His Mentors
(00:29:06) The Ingredients Of A World Class Performance
(00:31:06) The Business Side of Podcasting
(00:43:15) Identifying Emerging Trends
(00:50:12) Lessons From Building a Small, Efficient Team
(00:52:32) The Power of Constraints in Personal and Professional Growth
(00:53:10) Innovating Against the Grain (Anti-Video Experiment)
(00:54:54) Navigating Fame, Money, and Power
(01:02:00) The Impact of Sharing Difficult Stories
(01:06:18) Meta-Learning: A Framework for Fast, Effective Learning
(01:12:32) Reflecting on a Decade of Podcasting & What’s In Store
(01:24:41) The Kindest Thing Anyone Has Ever Done For Tim

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My First Million

Key Takeaways * You must have “one reason” to found a start-up; if you have five or six reasons to start it, then you have not yet found the single, very strong reason * Hire for raw IQ and hard work, then constantly iterate on solving the single problem at hand * Using your mind to its fullest capacity is the ultimate pleasure * The most successful people in the world are extremely focused and allow their focused efforts to compound over time * It is easy to identify conceptual gaps; developing the path toward closing that gap is the challenging part * You must figure out 1) what you are passionate about and 2) what you are good at * How you invest your time is more important than how you invest your capital, if wealth creation is your goal

Read the full notes @ podcastnotes.org

Episode 578: Shaan Puri ( https://twitter.com/ShaanVP ) sits down with Joe Lonsdale ( https://twitter.com/JTLonsdale ) to talk about how he leveraged one internship at PayPal into one billion dollar success after another.

Want to see Sam and Shaan’s smiling faces? Head to the MFM YouTube Channel and subscribe - http://tinyurl.com/5n7ftsy5
—
Show Notes:
(0:00) The One Reason strategy
(3:18) Learning Global Macro Finance from Peter Thiel
(5:35) Taking multi-million dollar bets at 4:30am
(8:43) Hire for raw IQ over expertise
(10:33) Nurturing employees into unicorn founders
(12:24) Solving hard problems with Addepar
(13:53) Always “Being on”
(15:32) How to spot opportunities for new businesses
(21:10) How Epirus landed a military defense contract
(27:09) Getting hits in hard domains
(28:24) Business Idea: AI-powered Estate Planning
(29:19) Business Idea: Business Process Outsourcing for local government
(30:58) Big swings vs. base hits
(31:49) Idea vs. execution
(32:38) Focus vs. diversity of thought/attention
(33:33) Insights from Elon’s inner circle
(35:36) Joe Lonsdale’s unfair advantages
(38:48) How to invest your time to make your first $1M
(40:40) Working on an A+ problem as an intern at PayPal
(43:15) Be within 2 standard deviations of top talent
(44:14) Early days at Palantir
(46:56) Building a top engineering culture
(48:31) Borrowing trust as 21-year old defense contractor
(52:22) Peter Thiel’s biggest contrarian bet

—
Links:
• Joe's Twitter - https://twitter.com/JTLonsdale
• Joe's blog - https://blog.joelonsdale.com/
• Addepar - https://addepar.com/
• Palantir - https://www.palantir.com/
• Epirus- https://www.epirusinc.com/
• OpenGov - https://opengov.com/
• Prologis - https://www.prologis.com/
• Lessons from Peter Thiel - https://joelonsdale.com/lessons-peter-thiel/

—
Check Out Shaan's Stuff:
Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd

—
Check Out Sam's Stuff:
• Hampton - https://www.joinhampton.com/
• Ideation Bootcamp - https://www.ideationbootcamp.co/
• Copy That - https://copythat.com
• Hampton Wealth Survey - https://joinhampton.com/wealth

My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.
—
Other episodes you might enjoy:
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• #209 Gary Vaynerchuk - Why NFTS Are the Future

• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto

• #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett

• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates

• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More

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Tetragrammaton with Rick Rubin✓Claim

Key Takeaways * Check out the episode page

Read the full notes @ podcastnotes.org

Golden Harper is a lifelong runner and the founder of Altra Running Shoes. He ran his first marathon at age 10 (3:08:05) and holds the world’s best for a 12-year-old in the marathon at 2:45:34. After growing up working in his family’s running store, he studied Exercise Science (with a focus on running technique & running injuries) at Brigham Young University, where he was an All-American Cross-Country runner. His experience as a runner, combined with his education in proper running technique and biomechanics, led him to develop the world’s first foot-shaped, cushioned, zero-drop shoes.

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rational vc

Key Takeaways * People often underestimate the role of chance in their achievements * Mild success can be explainable by skill, but wild success is attributable to variance * In the long run, the “lucky” regress to the mean * Understand Power Laws when investing; the wins of a few investments make up for the losses on many investments, and then some * Survivorship Bias: the tendency to focus on successful individuals without considering those who failed due to random factors * The probability of the loss must be judged in connection with the magnitude of the outcome; it is not the likelihood of an event that matters, but the magnitude of the outcome in connection with the likelihood of the event that does * Maximizing the probability of winning does not maximize the expected value from the game * The confidence in which you make your decision is more important than the expected value that comes from that decision * A mistake is not something to be determined after the fact, but in the light of the information until that point

Read the full notes @ podcastnotes.org

Every podcast episode we explore a Lindy book, and find ideas you can use in business and life. Join 3,000+ curious minds and avid readers @ rationalvc.com to get free access to essays and exclusive content. For the video version of episode click here.

Timestamps:

(00:00) Intro / chit-chat
(20:11) Randomness & Luck
(24:46) Monte Carlo Simulation
(31:09) Ergodicity
(31:39) Hindsight Bias
(38:00) Survivorship Bias
(39:50) Asymmetric Bets / John & Nero
(49:53) Skewness & Asymmetry
(57:19) Pascal's Wager
(1:00:53) Induction & Chaos Theory
(1:03:22) Chapter 11
(1:08:45) System-1 vs System-2 Thinking
(1:10:03) Satisficing
(1:20:08) Normative vs Positive Thinking
(1:25:52) Signal vs Noise
(1:28:20) Heuristics
(1:33:45) Final Part of Book (Part 3's Importance)
(1:44:41) Favourite Quotes / Our Lives
(2:06:11) Final Thoughts

-

Our website (all essays and podcasts): rationalvc.com
Our investment fund: rational.fund
Cyrus' Twitter: x.com/CyrusYari
Iman's Twitter: x.com/iman_olya

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Disclaimer: The materials provided are solely for informational or entertainment purposes and do not constitute investment or legal advice. All opinions expressed by hosts and guests are solely their own opinions and do not reflect the opinion of their employer(s).

#Lindy #knowledge #books

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Rich Roll Podcast

Key Takeaways * Find your talent, not your passion: Being great at something that pays well will make you passionate about whatever that thing is * Fostering the American Middle Class is the country’s greatest innovation * You become a man when you add surplus value to society, i.e. when you produce more than you consume * People under the age of 40 used to control 19% of the GDP, in terms of their wealth; it has since been cut to 9% * “The most dangerous person in the world is a man who is broken and alone.” – Scott Galloway * America used to be about giving unremarkable kids remarkable opportunities; the country has since gone away from this * It is not obvious how to become economically secure without working hard * Billionaires will tell you to follow your passion, but they probably made their billions in iron ore and smelting * Near-peer adversaries will not choose to take on the U.S. kinetically; instead, they will likely use AI and other tools to attack America from within and exploit the ongoing loneliness epidemic * Young professionals should not fall victim to the “myth of balance”; it is very rare to achieve professional success while living a balanced life

Read the full notes @ podcastnotes.org

This week, I am joined by Scott Galloway, NYU professor, best-selling author, serial entrepreneur, and podcaster, to discuss the multifaceted challenges many young men face today. He underscores the lack of empathy and understanding many experience, attributing it to societal expectations and the impact of technology. Scott emphasizes the winner-take-most economy, which limits opportunities for many young men. Drawing from personal understanding, he stresses the importance of education, support, and the presence of positive male role models. The discussion encompasses economic challenges, the decline of mentorship programs, and the need for reform in higher education institutions. Addressing societal constructs of masculinity and the importance of vulnerability and integrity, Scott advocates embracing emotions and seeking help to navigate life’s hurdles. He stands apart as a model of healthy, grounded masculinity—one defined by humility, emotional intelligence, and a commitment to uplifting the collective rather than indulging narrow self-interest.

Enjoy!

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Invest Like the Best

Key Takeaways * The question to consider: Does AI help the strong get stronger, or does AI allow for new businesses to emerge and disrupt the incumbents? * The top five technology companies are spending 2x on capital expenditure than the top five energy companies * Companies should strive to increase the consumer’s willingness to pay * “Regulation is the friend of the incumbent.” – Bill Gurley * Venture capital is one of the few asset classes that has high persistence: the past winners tend to be future winners * Develop a framework that allows you to benefit from the group dynamics of pattern recognition, but that does not tie you to one specific type of pattern * Instead of nit-picking how an investment may fail, make the primary focus of the discussion: “How big could this be?” * Investors must capture the extreme events if they wish to outperform * The sharpest minds desire to know where they are wrong about something

Read the full notes @ podcastnotes.org

My guests today are Bill Gurley and Michael Mauboussin. Bill is a General Partner at Benchmark, and Michael is the Head of Consilient Research for Counterpoint Global. While they are longtime friends with one another, I’d never heard them appear somewhere together so it was a real treat to be able to do this with the two of them. They are two of the leading minds in their fields, and we combined their decades of expertise into one wide-ranging conversation. We discuss the different kinds of increasing returns to scale, the issue of regulatory capture, AI, and hardware. Please enjoy this great conversation with Bill Gurley and Michael Mauboussin.

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For the full show notes, transcript, and links to mentioned content, check out the episode page here.

This episode is brought to you by Tegus, the only investment research platform built for the investor. With traditional research vendors, the diligence process is slow, fragmented, and expensive. That leaves investors competing on how well they can aggregate data — not on their unique ability to analyze insights and make great investment decisions. Tegus offers an end-to-end platform with all the data you need to get up to speed on a company or market: up-to-the-minute financials, customizable models, management and culture checks, and, of course, our vast and growing library of expert call transcripts. Tegus is changing the world of expert research. Learn more and get your free trial at tegus.com/patrick.

Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.
Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @patrick_oshag | @JoinColossus
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

Show Notes:
(00:00:00) Welcome to Invest Like the Best
(00:03:38) Dissecting the Dynamics of AI, LLMs, and Market Disruption
(00:05:06) The World of AI Investments and Market Trends
(00:08:13) Integration of New Technologies in Business
(00:15:27) The Power of Increasing Returns and Strategic Investments
(00:22:26) Unpacking the Role of Intangibles in Scaling and Innovation
(00:28:54) Transformative Potential of Open Source and Idea Recombination
(00:34:42) The Complex Landscape of Regulation and Innovation
(00:43:17) Today’s Venture Capital Ecosystem
(00:47:08) Impact of Fewer IPOs and Private Market Dynamics
(00:50:38) Capital Allocation in Zero Interest Rate Environments
(00:54:44) The Evolution of Venture Capital and High-Stakes Investment Games
(00:57:21) Exploring New Frontiers: AI, Energy, and Physical World Innovations
(01:01:14) The Power of Learning by Doing
(01:17:49) Working with Genius
(01:26:47) The Value of Teaching, Writing, and Sharing Knowledge

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Stuff You Should Know✓Claim

Key Takeaways * In the 1930s, the US Treasury took partial possession of Fort Knox so that it could store its gold there * Before Fort Knox, most of the United States’ gold was stored in New York City and Philadelphia, two cities that were close to the coast and potentially more vulnerable to an invasion from an adversary * Supposedly, there are 4600 metric tons of gold in the vault at Fort Knox; this equates to 2.5% of all the gold ever mined in human history * Some people believe that there is actually no gold in the vault * There have only been three official tours of Fort Knox since its founding * Fort Knox is hooked up to its own water and power supply; it can go “off-grid” * There is speculation that the field surrounding Fort Knox is a minefield

Read the full notes @ podcastnotes.org

When Fort Knox was built in the 1930s to house America’s gold supply, it was billed as an impenetrable, impregnable, don’t-even-think-of-trying vault. But as the world has moved further away from gold, the stockpile’s lost a bit of its luster. Learn all about it in this classic episode.

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Invest Like the Best

Key Takeaways * Success in business is all about culture, and bringing the very best people along with you as you embrace that culture * In negotiation, the other person should feel like they got more than what they thought they were going to get * The most important person in a company is the one who interacts with the customer * You want to work with people who have fight in them; work with people who can bounce back from defeat * Keep your word, work as hard as you can, and give it all you got

Read the full notes @ podcastnotes.org

My guest today is Ken Langone. Ken is a legendary American businessman best known for his co-founding of Home Depot. He is also a former director of the New York Stock Exchange and a passionate philanthropist. He shares with us a lifetime's worth of wisdom, building Home Depot into a powerhouse and prioritizing his employees above all else. He says he still “bleeds orange” to this day. You’ll hear as he recounts his business endeavors, his strict belief in keeping your word, and his true pride in his country, which he knows to be the land of opportunity. We discuss his work with Ross Perot, the idea of an upside-down hierarchy, and the power of loyalty. For anyone who may find it easier to follow along, we have a transcript of the episode on joincolossus.com. Please enjoy this conversation with Ken Langone.

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For the full show notes, transcript, and links to mentioned content, check out the episode page here.

This episode is brought to you by Tegus, the go-to destination for bold investing. The investment research platform trusted by 95% of the top 20 global private equity firms just got even better. Building on their solid reputation for expert insights, Tegus has expanded to become the first true all-in-one research platform. The new Tegus makes diligence faster, easier, and more convenient than ever before. Your Tegus license gives you access to over 70,000 expert transcripts, more than 4,000 fully drivable financial models, and exclusive datasets like company management checks, industry KPIs, hard-to-find non-GAAP data, and more. Tegus is the fastest way to learn about a public or private company and the most cost-effective way to conduct investment research — now all under one roof. Learn more and get your free trial at tegus.com/patrick.

Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.
Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @patrick_oshag | @JoinColossus
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

Show Notes:
(00:00:00) Welcome to Invest Like the Best
(00:004:00) The Unforgettable Pitch to Ross Perot
(00:08:37) Winning Over Perot with Honesty and Insight
(00:16:08) The Art of Negotiation and Trust
(00:19:31) Loyalty, Integrity, and the Power of Keeping Your Word
(00:23:51) Home Depot's Culture of Service and Empowerment
(00:29:16) Frank's Authentic Leadership and Its Impact
(00:31:00) Transforming NYU Medical Center
(00:33:45) Ken’s Investment Philosophy: Long Hold Only
(00:39:56) The Power of Resilience in Business
(00:45:37) The Kindest Thing Anyone Has Ever Done For Ken

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Business Breakdowns✓Claim

Key Takeaways * Check out the episode page

Read the full notes @ podcastnotes.org

This is Zack Fuss. Today we are breaking down the Mitsubishi Corporation. In Japan, the business model of a trading company is prominent. The big five trading companies caught the attention of global investors in 2020, when Berkshire Hathaway disclosed a major stake in all of them: Mitsubishi, Mitsui, Itochu, Marubeni, and Sumitomo. Today's Berkshire stake is nearly 10%.
I'm joined by Krishna Mohanraj, a Portfolio Manager at Diamond Hill Capital Management. In this episode, we discuss how the rich history of trading houses is steeped in Japanese culture and how each differs from one another. Krishna helps unravel the evolution of stakeholder priorities and how capital allocation policies have changed in the Japanese capital markets. Please enjoy this Breakdown of Mitsubishi Corporation.

Interested in hiring from the Colossus Community? Click here.

For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.

This episode is brought to you by Tegus, the only investment research platform built for the investor. With traditional research vendors, the diligence process is slow, fragmented, and expensive. That leaves investors competing on how well they can aggregate data — not on their unique ability to analyze insights and make great investment decisions. Tegus offers an end-to-end platform with all the data you need to get up to speed on a company or market: up-to-the-minute financials, customizable models, management and culture checks, and, of course, our vast and growing library of expert call transcripts. Tegus is changing the world of expert research. Learn more and get your free trial at tegus.com/patrick.

Business Breakdowns is a property of Colossus, LLC. For more episodes of Business Breakdowns, visit joincolossus.com/episodes.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @JoinColossus | @patrick_oshag | @zbfuss | @ReustleMatt | @domcooke
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

Show Notes
(00:00:00) Welcome to Business Breakdowns
(00:03:12) First Question - Understanding Mitsubishi's Global Impact and Business Model
(00:07:12) The Evolution of Mitsubishi and Japanese Trading Houses
(00:12:12) Mitsubishi's Investment Case and Market Position
(00:15:02) Comparing Mitsubishi with Other Japanese Trading Houses
(00:18:22) The Secret to Mitsubishi's Success and Global Network
(00:21:16) The Relevance of Berkshire’s Investment in the Japanese Trading Houses
(00:26:45) A Cultural Shift in the Orientation of Japanese Businesses Towards Their Shareholders
(00:28:35) Valuing Mitsubishi
(00:31:05) Reinvesting in The Business And Reallocating Capital
(00:33:02) Mitsubishi’s Unique Management Dynamic
(00:38:54) Advantages of the Mitsubishi Group
(00:42:44) Lessons Learned from Mitsubishi
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Modern Wisdom

Key Takeaways * The key question to consider about work and productivity: “How do we produce stuff, and be proud and ambitious about what we are doing, but also not burn out?” * Pseudo-productivity places too great an emphasis on looking busy but not creating anything of value; it is busyness for the sake of busyness because measuring productivity any other way in the knowledge work sector is too difficult * Do not shatter your day into fragments so small that you get nothing meaningful done * History’s greatest knowledge workers worked very slowly * Doing fewer things at once will enable you to accomplish more things * Your results are determined by intensity in the short term and consistency in the long term * Never give a yes or a no in the room; not saying yes or no in the room creates psychological distance from the decision * “Busyness” is attractive to people because it is a goal that they can succeed at; if a person wants to be busy, they will be busy * Signal to others that you are very careful about your time * “People who obsess over quality grow antibodies to busyness.” – Cal Newport

Read the full notes @ podcastnotes.org

Cal Newport is a computer science professor at Georgetown University, a productivity expert and an author.
If you’ve ever felt that you’re not as productive as you could be, you’re not alone. But what if the goal isn't to be more productive, but to let go of the goals that aren't serving you? What if the power of saying no to more things is the most important skill you can develop?
Expect to learn what our current problem with being productive is, why pseudo-productivity is a catastrophe, the advantages to what Cal calls Slow Productivity, how to better organise your communication, the best strategies for implementing a productivity schedule, how to stop saying yes all the time and much more...
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Episodes You Might Enjoy:

577 - David Goggins - This Is How To Master Your Life: http://tinyurl.com/43hv6y59

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700 - Dr Andrew Huberman - The Secret Tools To Hack Your Brain: http://tinyurl.com/3ccn5vkp

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Moonshots and Mindsets with Peter Diamandis✓Claim

Key Takeaways * Get Peter’s new Longevity Practices book for free

Read the full notes @ podcastnotes.org

In this episode, recorded during the 2024 Abundance360 Summit, Peter and Elon discuss super-intelligence, the future of AI, Neuralink, and more.

01:01 | The Power and Perils of Superintelligence

16:58 | Neuralink: Merging Humans with Technology

24:31 | A Step Closer to Multiplanetary Life

Elon Musk is a businessman, founder, investor, and CEO. He co-founded PayPal, Neuralink and OpenAI; founded SpaceX, and is the CEO of Tesla and the Chairman of X.

Learn more about Abundance360: https://www.abundance360.com/summit
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Founders✓Claim

Key Takeaways * Check out the episode page

Read the full notes @ podcastnotes.org

What I learned from reading The Lessons of History by Will and Ariel Durant.

Get access to the World’s Most Valuable Notebook for Founders at Founders Notes

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(1:00) This is a 100 page biography of the human species

(1:00) The Story of Civilization by Will and Ariel Durant (Full Set)

(2:30) Generations of men establish a growing mastery over the earth, but they are destined to become fossils in its soil.

(4:00) Ruthlessly prioritize how you spend your time.

(4:00) The influence of geographic factors diminishes as technology grows.

(4:30) ALL OF THE NAPOLEON EPISODES:

Napoleon: A Concise Biography by David Bell. (Founders #294)

The Mind of Napoleon: A Selection of His Written and Spoken Wordsedited by J. Christopher Herold. (Founders #302)

Napoleon and Modern War by Napoleon and Col. Lanza. (Founders #337)

(8:00) Our job is to make our companies and ourselves better equipped to meet the test of survival.

(11:30) Economic development specializes functions, differentiates abilities, and makes men unequally valuable to their group.

(12:30) The Almanack of Naval Ravikant: A Guide to Wealth and Happiness by Naval Ravikant and Eric Jorgenson. (Founders #191)

(14:30) In the end, superior ability has its way.

(16:30) Nothing is clearer in history than the adoption by successful rebels of the methods they were accustomed to condemn in the forces they deposed.

(19:00) The imitative majority follows the innovating minority and this follows the originative individual, in adapting new responses to the demands of environment or survival.

(20:00) If you can identify an enduring human need you can build a business around that.

(21:00) In every age men have been dishonest and governments have been corrupt.

(25:00) Survival at all costs: Nature and history do not agree with our conceptions of good and bad; they define good as that which survives, and bad as that which goes under.

(25:00) Victory in our industry is spelled survival. — Steve Jobs

(25:00) All that matters is to survive. The rest is just words. — Charles de Gaulle by Julian Jackson. (Founders #224)

(26:00) 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. — The Essays of Warren Buffett by Warren Buffett and Lawrence Cunningham (Founders #227)

(27:00) History reports that the men who can manage men manage the men who can manage only things, and the men who can manage money manage all.

(31:00) The Iron Law of Oligarchy

(32:00) Every advance in the complexity of the economy puts an added premium upon superior ability.

(33:00) The General and the Genius: Groves and Oppenheimer—The Unlikely Partnership that Built the Atom Bomb by James Kunetka. (Founders #215)

(34:00) Freedom's Forge: How American Business Produced Victory in World War II by Arthur Herman

(37:00) All technological advances will have to be written off as merely new means of achieving old ends

Get access to the World’s Most Valuable Notebook for Founders at Founders Notes

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Impact Theory with Tom Bilyeu

Key Takeaways * Inflation is a hidden tax on the people; instead of the government openly taking your money with direct taxation, it creates new money out of thin air which robs people of their purchasing power * Governments debase their currency because they know there is no other way to pay their existing debts * In the United States, houses used to cost about 3x the median income; now they cost about 10x the median income * “If it doesn’t have intrinsic value, then it’s not going to be money.” – Peter Schiff * “This is the best macro opportunity of all time.” – Raoul Pal on bitcoin * People wrongly assume that the dollars we print will always have value, regardless of how many dollars are printed * Central banks are paying the debts by printing money; this is pure monetary debasement * Papering over the debts with more printed money does not solve the fundamental problem * Politicians do not do what is best for the country; they do what is best for their careers, which is often at odds with what is best for the country * “They are going to keep on printing until the dollar collapses.” – Peter Schiff * The free market tries to lower prices by increasing productivity while the government tries to raise prices by creating inflation * Using inflation to melt away existing debts is not the “right” choice, but it is the expedient choice – and likely the option that politicians will choose * We will deal with the consequences of currency debasement once the can cannot be kicked any further down the road

Read the full notes @ podcastnotes.org

Welcome back to part 2 of this power-packed debate with Peter Schiff and Raoul Pal!
The discussion continues as we dive deeper into:

• The growing national debt and potential hyperinflation

• Historical patterns of financial repression

• Blockchain technology and digital asset utilization

• The future of Social Security

You won’t want to miss out on the final part of this hot debate between Raoul Pal and Peter Schiff.
And if you're loving the Impact Theory Podcast, please take a moment to leave us a review or rate the show. Your feedback is incredibly valuable!

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Themes: Mindset, Finance, World Affairs, Health & Productivity, Future & Tech, Simulation Theory & Physics, Dating & Relationships

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*Subscribe on Apple Podcasts: https://apple.co/3PCvJaz***
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My First Million

Key Takeaways * Check out the episode page

Read the full notes @ podcastnotes.org

Episode 562: Shaan Puri (https://twitter.com/ShaanVP) and Sam Parr (https://twitter.com/theSamParr) get into the economics of personality tests–including the most famous one which is used by 89% of Fortune 100 companies.
Want to talk to Shaan? Text “hi” to 650-334-0790
Want to see Sam and Shaan’s smiling faces? Head to the MFM YouTube Channel and subscribe - http://tinyurl.com/5n7ftsy5

—
Show Notes:
(0:00) Intro
(1:00) Data mining the basketball court
(7:00) Origin of Myers-Briggs Test
(14:30) Formula for Grit
(16:00) Sam takes the Grit Scale Test
(23:00) Cognition Labs, a math nerd's wet dream
(34:00) Be willing to walk backwards
(39:50) Speedrunning: 3 Founders Who Repeated the Playbook
(42:00) Don't explore, exploit
(49:00) $600M protein bar in 4 years

—
Links:
• Grit - https://angeladuckworth.com/grit-book/
• Gallup - https://www.gallup.com/
• Lunchclub - https://lunchclub.com
• Cognition - https://www.cognition-labs.com/
• Gold-Medalist Coders article - https://tinyurl.com/tc65a2vc
• David Protein - http://davidprotein.com/

—
Check Out Sam's Stuff:
• Hampton - https://www.joinhampton.com/
• Ideation Bootcamp - https://www.ideationbootcamp.co/
• Copy That - https://copythat.com
• Hampton Wealth Survey - https://joinhampton.com/wealth

—
Check Out Shaan's Stuff:
Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd

Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.
—
Other episodes you might enjoy:
• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits

• #209 Gary Vaynerchuk - Why NFTS Are the Future

• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto

• #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett

• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates

• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More

• How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

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Founders✓Claim

Key Takeaways * Check out the episode page

Read the full notes @ podcastnotes.org

What I learned from rereading Tycoon's War: How Cornelius Vanderbilt Invaded a Country to Overthrow America's Most Famous Military Adventurer by Stephen Dando-Collins.

Get access to the World’s Most Valuable Notebook for Founders at Founders Notes

Follow Founders Podcast on YouTube

(0:01) Vanderbilt was only interested in two things: making money and winning

(3:00) Cornelius Vanderbilt, the descendant of poor Dutch immigrants, would die in 1877 possessing more money than was held by the United States treasury.
(3:00) The First Tycoon: The Epic Life of Cornelius Vanderbilt by T.J. Stiles

(5:00) The NEW Poor Charlie's Almanack: The Wit and Wisdom of Charlie Munger. (Founders #329)

(6:00) “If I had learned education. I would not have had time to learn anything else.”

(7:00) Vanderbilt wrote nothing down, keeping every detail of his business dealings in his head, and at any given time he knew his income and expenditures down to the last cent.

(10:00) From Founders Notes. I asked the chat feature:

Tell me about Cornelius Vanderbilt. How did he make his money?

One trait it identified in Vanderbilt was this:

Vanderbilt's approach to business was often marked by a sly concealment of his intentions, keeping information close while simultaneously gathering intelligence on competitors. This strategic obfuscation allowed him to make moves that others often couldn't predict or comprehend until it was too late

(This feature will be available to Founders Notes subscribers very soon!)

(15:00) The Invisible Billionaire: Daniel Ludwig by Jerry Shields (Founders #292)

(24:00) The Founders: The Story of PayPal and the Entrepreneurs Who Shaped Silicon Valley by Jimmy Soni. (Founders #233)

(26:00) Gentlemen, you have undertaken to cheat me. I won’t sue you, for the law is too slow. I’ll ruin you. Yours truly, Cornelius Vanderbilt.

(37:00) He's turning everyone against Walker by appealing to their interests. He’s not saying do this for me to get my ships back. He appeals to their interests and aligns their interests with his own.

(40:00) Vanderbilt had more money than all the Central American governments combined.

(41:00) As far as my nature is concerned, I do not meet competition, I destroy competitors.

— The 38 Letters from J.D. Rockefeller to His Son by John D. Rockefeller. (Founders #324)

(41:00) Vanderbilt said why don’t you pay me to not compete with you?

Get access to the World’s Most Valuable Notebook for Founders at Founders Notes

“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth

Be like Gareth. Buy a book: All the books featured on Founders Podcast

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Deep Questions with Cal Newport✓Claim

One of the most common strategies for achieving a powerful ideal lifestyle vision is to leverage entrepreneurial activities to find a stable source of income that allows autonomy and flexibility. To help understand how to succeed in such ventures, Cal interviews the entrepreneur and author Noah Kagan about his new book, "The Million Dollar Weekend." Recording on the road as part of his book tour for "Slow Productivity," Cal also shares some lessons about what he's been observing.

Below are the questions covered in today's episode (with their timestamps). Get your questions answered by Cal! Here’s the link: bit.ly/3U3sTvo

Video from today’s episode: youtube.com/calnewportmedia

INTERVIEW: Marketing guru Noah Kagan [11:06]

Links:
Use this link to preorder a signed copy of “Slow Productivity”:
peoplesbooktakoma.com/preorder-slow-productivity/
FREE download excerpt and 2 Bonuses for “Slow Productivity”:
calnewport.com/slow

Thanks to our Sponsors:

This show is brought to you by BetterHelp. Give online therapy a try at
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Thanks to Jesse Miller for production, Jay Kerstens for the intro music, Kieron Rees for slow productivity music, and Mark Miles for mastering.

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Econtalk

There's often a gap between the textbook treatment of statistics and the cookbook treatment--how to cook up the numbers when you're in the kitchen of the real world. Jeremy Weber of the University of Pittsburgh and the author of Statistics for Public Policy hopes his book can close that gap. He talks to EconTalk host Russ Roberts about how to use numbers thoughtfully and honestly.

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Artificial Intelligence Podcast

Key Takeaways * “The best businesses are forever assets.” – Bill Ackman * It is optimal to invest in businesses that have a low probability of getting disrupted * Price is what you pay; value is what you get * In investing, you can do very well if you avoid losing money and have a few great hits * Price matters: You can buy the best business in the world, but you will not earn a particularly attractive return if you overpay for it * It is best to invest in growing businesses that are easy to understand and that will generate cash over the long term * Progress compounds in a similar way that money compounds * Never invest money that you cannot afford to lose * “Harvard has become a place where free speech is not tolerated on campus, or at least free speech that’s not part of the accepted dialogue.” – Bill Ackman * Lowercase diversity, equity, and inclusion are good; it is the uppercase“DEI” ideology that is problematic * The only person who can cause you more harm than a thief with a dagger is a journalist with a pen * The current problem in politics is that the party system is not working properly; the parties are self-interested and are not incentivized to do what is best for the country * Technology will save us; we must return to a meritocratic world

Read the full notes @ podcastnotes.org

Bill Ackman is an investor who has led some of the biggest and controversial financial trades in history. He is founder and CEO of Pershing Square Capital Management. Please support this podcast by checking out our sponsors:
- LMNT: https://drinkLMNT.com/lex to get free sample pack
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- Eight Sleep: https://eightsleep.com/lex to get special savings
- BetterHelp: https://betterhelp.com/lex to get 10% off

Transcript: https://lexfridman.com/bill-ackman-transcript

EPISODE LINKS:
Bill's X: https://twitter.com/BillAckman
Pershing Square Holdings: https://pershingsquareholdings.com/
Pershing Square Foundation: https://pershingsquarefoundation.org
Neri Oxman conversation: https://www.youtube.com/watch?v=XbPHojL_61U
Books mentioned:
The Intelligent Investor: https://amzn.to/3ONnaZy
America's Cultural Revolution: https://amzn.to/3SDz1dY

PODCAST INFO:
Podcast website: https://lexfridman.com/podcast
Apple Podcasts: https://apple.co/2lwqZIr
Spotify: https://spoti.fi/2nEwCF8
RSS: https://lexfridman.com/feed/podcast/
YouTube Full Episodes: https://youtube.com/lexfridman
YouTube Clips: https://youtube.com/lexclips

SUPPORT & CONNECT:
- Check out the sponsors above, it's the best way to support this podcast
- Support on Patreon: https://www.patreon.com/lexfridman
- Twitter: https://twitter.com/lexfridman
- Instagram: https://www.instagram.com/lexfridman
- LinkedIn: https://www.linkedin.com/in/lexfridman
- Facebook: https://www.facebook.com/lexfridman
- Medium: https://medium.com/@lexfridman

OUTLINE:
Here's the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time.
(00:00) - Introduction
(08:55) - Investing basics
(13:47) - Investing in music
(22:08) - Process of researching companies
(26:47) - Investing in restaurants
(32:16) - Investing in Google
(37:58) - AI
(43:13) - Warren Buffet
(45:22) - Psychology of investing
(54:53) - Activist investing
(1:04:41) - General Growth Properties
(1:20:57) - Canadian Pacific Railway
(1:28:21) - OpenAI
(1:32:32) - Biggest loss and lowest point
(1:47:21) - Herbalife and Carl Icahn
(2:04:11) - Oct 7
(2:10:42) - College campus protests
(2:29:09) - DEI in universities
(2:50:00) - Neri Oxman
(3:15:30) - X and free speech
(3:19:54) - Trump
(3:27:30) - Dean Phillips
(3:34:36) - Future

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Jordan B Peterson Podcast

Key Takeaways * Check out the episode page

Read the full notes @ podcastnotes.org

Dr. Jordan Peterson speaks with author, teacher, and prior hostage negotiator Chris Voss. They discuss the necessity of prioritizing needs and wants, how to navigate the job market to fit your best potential, how and why to go after a raise, the primacy of invitational collaboration over compelled, and how Voss succeeded in many real-world hostage negotiations.

Chris Voss has served as the lead international kidnapping negotiator for the Federal Bureau of Investigation (FBI), the hostage negotiation representative for the National Security Council’s Hostage Working Group, and the lead Crisis Negotiator for the NYC division of the FBI. Chris was a member of the New York City Joint Terrorist Task Force for 14 years, a recipient of the Attorney General’s Award for Excellence in Law Enforcement, and the FBI Agents Association Award for Distinguished and Exemplary Service. Chris has taught business negotiation courses at the University of Southern California, Georgetown University, and Harvard University. He has also guest lectured at Northwestern University and at schools abroad. Currently, Chris works with Insite Security as their Managing Director of the Kidnapping Resolution Practice.

• Links -

2024 tour details can be found here https://jordanbpeterson.com/events

Peterson Academy https://petersonacademy.com/

For Chris Voss:

On Instagram https://www.instagram.com/thefbinegotiator/?hl=en

On X https://twitter.com/fbinegotiator?lang=en

Sign up for Chris Voss’s Newsletter https://www.blackswanltd.com/no-oriented-questions

“Never Split the Difference: Negotiating As If Your Life Depended On It” (book) https://www.amazon.com/Never-Split-Difference-Negotiating-Depended/dp/0062407805

Learn to negotiate with the Black Swan Group https://www.blackswanltd.com/

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How to Take Over the World

Key Takeaways * Check out Ben’s website

Read the full notes @ podcastnotes.org

To watch this episode on YouTube, tap here: https://youtu.be/xlwwhAeknkA

MrBeast joins the podcast to discuss how he trains and manages his employees, why he didn't take Christmas and Thanksgiving off for more than five years, what separates him from other content creators, and more.

00:00 - Introduction
02:30 - Jimmy's obsession with strategy games
05:15 - Did Jimmy consider himself smart?
08:50 - How does he manage his obsessions?
11:30 - Jimmy's inflection points
12:40 - Pushing himself with stunts
15:00 - Eight years of failure
18:15 - Working on holidays
19:00 - This episode sponsored by Tamba.Digital
19:45 - Jimmy's rise
24:15 - Why does Jimmy work so hard?
28:00 - Why he consistently beats other YouTubers
31:00 - Jimmy's management approach
34:15 - Paying people well
37:30 - Bottlenecks
41:10 - Who he takes inspiration from
45:30 - When will Jimmy take over the world?
55:50 - MrBeast's legacy
58:50 - Lessons learned

• Thank you to Talmage Thayne and filmlaab for the awesome video support.
• Thank you to this episode's sponsor: Tamba.Digital
• To consult with me, go to takeoverpod.com/consult-with-ben
• Follow me on Twitter @BenWilsonTweets
  Learn more about your ad choices. Visit megaphone.fm/adchoices

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My First Million

Key Takeaways * Check out the Episode Page

Read the full notes @ podcastnotes.org

Episode 547: Shaan Puri (https://twitter.com/ShaanVP) and Sam Parr (https://twitter.com/theSamParr) are dropping 16 career principles that will get you promoted so fast it’ll make your neck hurt.

No more small boy spreadsheets, build your business on the free HubSpot CRM: https://mfmpod.link/hrd

—
Show Notes:
(0:00) Intro
(3:00) Work WITH not FOR
(5:00) Write an internal newsletter
(9:00) Present your work well
(11:00) Be a maker not a taker
(12:00) Work in public
(14:00) Logos matter more than titles
(17:00) Choose your manager wisely
(18:30) 5% Rule
(22:30) Fix your zoom setup, dawg
(25:30) The McKinsey Pyramid for better communication
(28:00) Beat your numbers
(30:30) Ask assumption-breaking questions
(33:30) Find the 5 most interesting people
(36:30) Solve a papercut problem
(40:00) Work on the A+ problem
(40:30) Create a brand for yourself

—
Check Out Sam's Stuff:
• Hampton - https://www.joinhampton.com/
• Ideation Bootcamp - https://www.ideationbootcamp.co/
• Copy That - https://copythat.com
• Hampton Wealth Survey - https://joinhampton.com/wealth

Check Out Shaan's Stuff:
• Try Shepherd Out - https://www.supportshepherd.com/
• Shaan's Personal Assistant System - http://shaanpuri.com/remoteassistant
• Power Writing Course - https://maven.com/generalist/writing
• Small Boy Newsletter - https://smallboy.co/
• Daily Newsletter - https://www.shaanpuri.com/

Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.
—
Other episodes you might enjoy:
• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits

• #209 Gary Vaynerchuk - Why NFTS Are the Future

• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto

• #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett

• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates

• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More

• How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

View Details

The "What is Money?" Show ✓ Claim

Key Takeaways * Money is energy; a monetary system is an energy system * “The civilization that channels energy most effectively wins.” – Michael Saylor * Debasing the currency is equivalent to energy leaking out of the system; at a 7% debasement rate, half of the energy leaks from the system every ten years * Engineers design systems with the laws of thermodynamics in mind, but economists do not * You cannot cheat mother nature; an energy system cannot cheat the laws of physics * As the currency leaked 7-14% of its energy per year over the past several decades, market participants realized that the US dollar was not a store of value, so they monetized other assets, such as the S&P 500 and real estate, to preserve their purchasing power * Leakage destroys energy systems; in the context of a monetary system, leakage is monetary inflation * When money works perfectly, it is economic energy. But when it is captured by politics and becomes corrupted, it becomes imperfect energy * Satoshi Nakamoto created an engineering solution to monetary debasement and central banking * The recipe for creating virtue in a monetary system is to plug it into nature; proof-of-work mining subjects Bitcoin to the virtues of nature * “Just like we can’t expect to advance without mastering the flow of water, or mechanics, or fire, or electricity, we can’t really expect to drive forward the socio-economic-political systems of humanity without mastering money, or monetary engineering.” – Michael Saylor

Read the full notes @ podcastnotes.org

Michael Saylor joins me for a synopsis of our 17-episode series together titled "The Saylor Series." For those who don't have time for the ~25 hours of content contained in The Saylor Series, this ~1 hour episode crystallizes many of its key insights.

Be sure to check out Swan Private, the trusted Bitcoin financial services provider for high-net-worth individuals and businesses worldwide: https://www.swanprivate.com/breedlove

Guest
"The Saylor Series" book: https://www.amazon.com/What-Money-Saylor-Michael/dp/B0B9Z629BL
"The Saylor Series" playlist: https://www.youtube.com/playlist?list=PL2jAZ0x9H0bQFY6wIbQfnrnIlqMcSHd6X
Michael Saylor's Twitter: https://twitter.com/saylor
Michael Saylor's Website: https://www.michael.com/
Bitcoin is Hope Website: https://www.hope.com/
Michael Saylor's Company: https://www.microstrategy.com/
The Saylor Academy: https://www.saylor.org/

PODCAST
Podcast Website: https://whatismoneypodcast.com/
Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400 Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1
RSS Feed: https://feeds.simplecast.com/MLdpYXYI
Transcript:

Outline
00:00:00 “What is Money?” Intro Music
00:00:08 “What is Money?” Intro Message
00:00:54 Learn about Bitcoin with Swan Private at SwanPrivate.Com/Breedlove
00:01:48 Do More with Your Digital Assets with Ledn
00:02:33 Setting Up the Synopsis of The Saylor Series
00:04:48 Money is the Highest Form of Energy Humans Can Channel
00:09:41 Bitcoin as an Appropriately Engineered Monetary System
00:12:22 Ancient Energy Technologies: Fire, Missiles, and Hydraulics
00:20:00 How Does Monopolization Destroy Monetary Networks?
00:27:11 “You Cannot Fly a Corrupted Airplane”
00:32:59 Take Control of Your Healthcare with CrowdHealth
00:34:01 A Bitcoin Wallet with Privacy Built-In: Wasabi Wallet
00:34:36 Join me at The Pacific Bitcoin Conference 2022 in LA!
00:35:15 Join me at Bitcoin Conference 2023 in Miami!
00:36:00 Invest in the Fine Art Market with Masterworks
00:36:36 Hold Bitcoin is the Most Secure Custody Model with Casa
00:37:24 Currency Debasement Collapses Civilization
00:41:32 The Problems and History of Politicized Money
00:45:58 Present-Day Currency Debasement and the Road Ahead…
00:49:18 Ayn Rand’s Mission: “To Separate the Economy from The State”
00:54:09 What are the Potential Benefits of a Global Incorruptible Money?
01:01:30 The Costs of Chronic Energy Leakage on Complex Systems
01:05:40 Defective Money Cripples the Economy
01:08:19 How to Free Ourselves from the “Fiat Zoo”
01:17:23 “What is Money?” Outro Music

SOCIAL
Breedlove Twitter: https://twitter.com/Breedlove22
WiM? Twitter: https://twitter.com/WhatisMoneyShow
LinkedIn: https://www.linkedin.com/in/breedlove22/
Instagram: https://www.instagram.com/breedlove_22/
TikTok: https://www.tiktok.com/@breedlove22?lang=en
All My Current Work: https://linktr.ee/breedlove22

WRITTEN WORK
Medium: https://breedlove22.medium.com/
Substack: https://breedlove22.substack.com/

WAYS TO CONTRIBUTE
Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7
Sats via Strike: https://strike.me/breedlove22
Sats via Tippin.me: https://tippin.me/@Breedlove22
Dollars via Paypal: https://www.paypal.com/paypalme/RBreedlove
Dollars via Venmo: https://venmo.com/code?user_id=1784359925317632528
The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101&fan_landing=true

RECOMMENDED BUSINESSES
Swan Private guides high-net-worth individuals and businesses in all areas of Bitcoin strategy: https://www.swanprivate.com/breedlove
Ledn lets you do more with your digital assets: https://www.ledn.io/
CrowdHealth offers an innovative health insurance model based on Bitcoin and community: https://www.joincrowdhealth.com/breedlove
Wasabi Wallet is a Bitcoin wallet with privacy built-in by default: https://wasabiwallet.io/
Okcoin is an innovative and education-focused cryptoasset exchange platform—earn $50 in free Bitcoin by signing up at: https://okcoin.com/breedlove
Join me at Pacific Bitcoin Conference 2022 in LA, use discount code BREEDLOVE: https://www.pacificbitcoin.com/
Join Me At Bitcoin 2023 in Miami, and use discount code BREEDLOVE for a chance to win 10M sats: https://b.tc/conference/2023
Masterworks let you access the fine art market at more affordable price points (use discount code BREEDLOVE): https://www.masterworks.com
Casa is the most secure way to custody your Bitcoin (use discount code BREEDLOVE): https://keys.casa/
Automatic Recurring Bitcoin Buys and Withdrawals: https://www.swanbitcoin.com/breedlove/

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Jordan B Peterson Podcast

Key Takeaways * “If you take care of your people, your people will take care of you.” – Jocko Willink * Learn from the past, but dwelling too much on it can be counterproductive * Relaxation is not the ultimate reward for success * In the book of Abraham, the conception of God is the voice that calls you to adventure; the most devout path is the path with the highest adventure * “The safest place to store your wealth is in your reputation, and the most effective way of developing your reputation is to be of the most service you can be to other people.” – Jordan Peterson * Real prestige comes from the ability * Ego causes fissions within teams * Your people must understand why they are doing something * Lead with the minimum force required and give your people ownership over what they do

Read the full notes @ podcastnotes.org

Dr. Jordan B. Peterson sits down in-person with retired Navy SEAL, author, speaker, and podcaster, Jocko Willink. They discuss Jocko’s new speaking tour, the catharsis and upward momentum gained from genuine connection, the morality of a soldier, what a real leader is, and how to become one yourself.

Jocko Willink is a retired U.S. Navy SEAL officer, co-author of the #1 New York Times bestseller Extreme Ownership: How U.S. Navy SEALs Lead and Win, Dichotomy of Leadership, host of the top-rated Jocko Podcast, and co-founder of Echelon Front, where he serves as Chief Executive Officer, leadership instructor, speaker, and strategic advisor. Jocko spent 20 years in the SEAL Teams, starting as an enlisted SEAL and rising through the ranks to become a SEAL officer. As commander of SEAL Team Three’s Task Unit Bruiser during the battle of Ramadi, he orchestrated SEAL operations that helped the “Ready First” Brigade of the U.S. Army’s First Armored Division bring stability to the violent, war-torn city. Task Unit Bruiser became the most highly decorated Special Operations Unit of the Iraq War.

• Links -

For Jocko Willink:

On X https://twitter.com/jockowillink?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

Website https://jocko.com/

Jocko Podcast https://www.youtube.com/@JockoPodcastOfficial

Extreme Ownership: How Navy SEALS Lead and Win (Book) https://www.amazon.com/Extreme-Ownership-U-S-Navy-SEALs/dp/1250067057

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Jocko Podcast

Key Takeaways * Your survival may depend more on your personality than upon danger, the enemy, the weather, the terrain, or the nature of the emergency * Survival depends a great deal on your knowing and facing the situation, but you are part of the situation * Taking action reduces fear; there is nothing that makes fear worse than hesitation * Survival requires the ability to detach from the situation * “You can only improve your weaknesses if you’re humble enough to admit them.” – Jocko Willink * Both pessimism and unrealistic optimism are equally dangerous to survival * Seek out things that make you uncomfortable so that you become more comfortable with being uncomfortable

Read the full notes @ podcastnotes.org

Psychological Aspects of Survival, 1954 Air Force Manual.

Support this podcast at — https://redcircle.com/jocko-podcast/exclusive-content

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The Network State Podcast✓Claim

Key Takeaways * The United States of America is the greatest startup in world history * As an entrepreneur, your social role is to make profits, but you also need to ensure that socialists do not take over your country * “Every founder starts as lead engineer and ends up as Chief Psychologist.” – Balaji * There is light in the world and there is darkness; accelerationism want light and the decels want darkness * A world of degrowth is a world that is full of war; when the pie is forced to be shrunk, the people are forced to fight because there are less resources available * Academics do not understand that what matters is how systems and incentives work * We must take the frameworks that work in the entrepreneurial world and apply them to other things * Make America States Again * The darkest of times reveal who is on the side of darkness and who is on the side of the light

Read the full notes @ podcastnotes.org

Joe Lonsdale is one of the most prominent investors in technology. He's the co-founder of Palantir, 8VC, Addepar, and the Cicero Institute — and one of Balaji's longtime friends. We have fun talking about education, longevity, space, and the little matter of completely reforming all governments with the internet.OUTLINE:00:00 - How Silicon Valley got expensive09:18 - Tech founders as philosophers17:39 - 100% Democracy and .01% Democracy28:51 - Internet Values vs Western Values36:05 - How Academics Become Capitalists46:40 - Red States, Purple States, Foreign States for AI58:11 - Thoughts on Space, Robotics, Longevity

VIDEO

YouTube: https://youtu.be/Ny93ZjlR93gSOCIALhttps://ciceroinstitute.orghttps://www.8vc.comhttps://thenetworkstate.com/podcasthttps://twitter.com/JTLonsdalehttps://twitter.com/balajis

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LaBossiere Podcast

Key Takeaways * Qualities such as stickiness, gravity, and permanence are common among companies that have durable revenue * Just because a company is a software-as-a-service (SaaS) company does not mean that it has durable revenue * Products with durable revenue streams tend to become deeply integrated and entangled within an organization * Net dollar retention rate (NRR) is not an indication of anything; it is a manifestation of the business in its current state * Conceptual TAM calculations are often overestimated and do not match up with reality * A company must earn the position to extend itself into new markets * Power laws exist in every industry; most industries are dominated by just a few companies * A company must have multiple acts beyond its core business if it wants to survive in the long term * Every CFO must have three things: trust, command of the facts, and an understanding of what moves the needle for the company

Read the full notes @ podcastnotes.org

Anthony “Pomp” Pompliano is an entrepreneur and technology investor. He runs his family office which makes private investments, along with owning majority stakes in a number of operating businesses.

Additionally, Pomp hosts popular conversations on “The Pomp Podcast,” which has been downloaded more than 50 million times. Pomp also writes a letter that is read by more than 250,000 investors each morning.

Pomp’s interests lie at the intersection of finance, technology, entrepreneurship, and economics, which he tweets about extensively to his more than 1.6 million followers.

0:00 - Intro

3:11 - Incumbents and Competition in the Age of AI

5:12 - Media’s Relationship with Technology

9:48 - Individuals vs Institutions and the Future of Content

11:46 - Consensus, Truth, and Misinformation

15:47 - How to Cut Through the Noise

18:47 - The Decline of Trust in Institutions

24:10 - Balancing Optimism and Cynicism

26:46 - National Debt

33:22 - Bad Legislation, Bad Politicians, and Bad Incentives

37:54 - Growing Our Way Out of the Problem

42:19 - Autonomous Cars, Pig Heart Transplants, and How Innovation Propagates Itself

49:22 - Legislating Technology

55:04 - Increasing the Number of Entrepreneurs in Society

1:03:08 - When Better Technology Doesn’t Mean Better Outcomes

1:05:24 - Talent Allocation

1:10:56 - What Does Pomp Do Every Day?

1:19:52 - Lessons From 1300 Interviews

1:21:56 - On Fame, Audience, and Parasocial Relationships

1:29:23 - The State of Crypto

1:34:14 - Institutional Adoption of Crypto

1:37:20 - Is Slow-Moving Bureaucracy a Bug or a Feature?

1:42:02 - Remote Work and Regulatory Arbitrage

1:46:22 - Promising Cities and the Internet as an Equalizer

1:50:03 - Lessons From War

1:58:07 - What Should More People Be Thinking About?

🎙️More Episodes🎙️YouTube: https://bit.ly/3QDLQFtApple: https://apple.co/478Be6MSpotify: https://spoti.fi/3sfiFiE

📲Socials📲

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The Lunar Society

Key Takeaways * The study of economics is a way of carrying forward big ideas about the world * The best economists have real depth and breadth in their work * Risk aversion is context-dependent * The emergence of AI agents will show that Hayek was right about how decentralized systems evolve * When a nation allows for free trade, a shockingly high percentage of the productivity gains come from the worst firms being bankrupted by the free trade * “My worry is that energy becomes too cheap and people, at very low cost, can destroy things rather easily.” – Tyler Cowen * In the coming world of AI, effective people will segregate their tasks in a way that reflects their comparative advantage; this will lead to a bifurcation of personal productivity

Read the full notes @ podcastnotes.org

It was a great pleasure speaking with Tyler Cowen for the 3rd time.

We discussed GOAT: Who is the Greatest Economist of all Time and Why Does it Matter?, especially in the context of how the insights of Hayek, Keynes, Smith, and other great economists help us make sense of AI, growth, animal spirits, prediction markets, alignment, central planning, and much more.

The topics covered in this episode are too many to summarize. Hope you enjoy!

Watch on YouTube. Listen on Apple Podcasts, Spotify, or any other podcast platform. Read the full transcript here. Follow me on Twitter for updates on future episodes.

Timestamps

(0:00:00) - John Maynard Keynes

(00:17:16) - Controversy

(00:29:43) - Fredrick von Hayek

(00:47:41) - John Stuart Mill

(00:52:41) - Adam Smith

(00:58:31) - Coase, Schelling, & George

(01:08:07) - Anarchy

(01:13:16) - Cheap WMDs

(01:23:18) - Technocracy & political philosophy

(01:34:16) - AI & Scaling

Get full access to Dwarkesh Podcast at www.dwarkeshpatel.com/subscribe

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Tetragrammaton with Rick Rubin✓Claim

Key Takeaways * Today, people play the same power games that were played in the times of Napoleon and Machiavelli * Seduction is opening up doors in people that are normally closed * Mastering your craft is the ultimate form of power * We tend to distance ourselves from anything that might alter our sense of self * Letting go of your sense of self can be scary because it might churn up parts of yourself or the world that you do not want to confront * “If you are creative, the world will bow down to you.” – Robert Greene * Warfare is politics by other means * Success can be the worst thing that can happen to you * “At the root of creative impulse, is anxiety.” – Robert Greene * Contrary to consensus thinking that suggests creativity is the result of being free and loose, and may help to build structure around your creative practice

Read the full notes @ podcastnotes.org

Robert Greene is an author known for his books on strategy, power, mastery, and seduction. The 48 Laws of Power, perhaps Greene's most famous book, found a particularly passionate audience among rappers and musicians, as the book resonates with the challenges and dynamics of the music industry. After 50 Cent read it, he approached Greene and the two collaborated on The 50th Law. It’s been mentioned in songs by Jay Z, Kanye West, UGK, Central Cee, MF DOOM, and Drake.

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The Network State Podcast✓Claim

Key Takeaways * Blockchains provide the societal benefits of protocol networks but with the competitive advantages of corporate networks * “Come for the tool, stay for the network.” – Chris Dixon * If every command line tool becomes an app, does every protocol become a blockchain? * Distribution was so scarce in the early days of the internet that Ted Kaczynski (the Unabomber) killed for it * The Web3 version of a given Web2 app adds balances and the ability to cryptographically sign messages and transactions * Many tech companies suffer from Stockholm Syndrome; they have become accustomed to the App Store taking a significant portion of their revenue * Web3 combines the best of both worlds of Web1 and Web2 * Web3 is as structured as the Web2-style databases but as open as a Web1-style web * Crypto is a counter-force to many of the things that AI is doing * Blockchains enable property rights in the digital space * “Technology changes microeconomic leverage.” – Balaji

Read the full notes @ podcastnotes.org

Read Write Own (readwriteown.com) is a new book by Chris Dixon, general partner at Andreessen Horowitz (a16z) and founder of the largest crypto fund in the world. It's an important work that is simultaneously the best crypto tutorial for newcomers and an accessible reference for experts. Balaji and Chris are long-time friends and worked together at a16z for years. Here they discuss Read Write Own and the state of crypto in 2024.OUTLINE00:20 - Chris Introduces Read Write Own 05:04 - Why Books Are Harder than Essays11:40 - Overview of Read Write Own18:01 - The 2000s: Open RSS vs Proprietary Social25:32 - Every Protocol Now Gets Global State31:42 - Web3 Versions of Web2 Apps35:27 - Proprietary Networks Are Locking Down38:47 - Crypto Subsidizes Creatives42:53 - Virtual Goods and Online Status44:13 - Own Usernames Like Domain Names47:55 - What Digital Ownership Means48:52 - Tech Giants' Power and User Leverage.58:28 - Collaborative Storytelling01:02:06 - Digital Identity with Web301:09:36 - Conclusion

VIDEO

YouTube: https://youtu.be/_nIQztk5KWYSOCIALhttps://readwriteown.comhttps://thenetworkstate.com/podcasthttps://twitter.com/cdixonhttps://twitter.com/balajis

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A16z Podcast

Key Takeaways * Universities still matter, especially the really good ones; the decisions made at elite universities end up influencing the future of the country * The bundling of the university is evidence that it has evolved; however, it is important for university leaders to continually evaluate that bundle to ensure that it makes sense * The main credentialing of the college degree is in two parts: the fact that you were admitted and the fact that you graduated * The admissions process is an IQ test and the graduation process is a conscientiousness test * For many degrees, the degree is worth less than the wage that it will command in the free market * University tuition rates have increased 2-3x more than the general inflation rate; if current trends continue, the cost of a four-year education at an elite university will cost $1M * Increasingly, the policy recommendations that come out of the think tank component of universities are sharply partisan and extreme * Stanford and Yale have more administrative staff than they have students! * Universities are highly dependent on their current model continuing indefinitely; they are not as fiscally stable as they may seem from the outside perspective * In 2015, 57% of American voters had a positive view of American universities; in 2023, that number fell to 36% * Entrepreneurial opportunities tend to emerge when an industry experiences systemic shifts

Read the full notes @ podcastnotes.org

In this one-on-one conversation, Marc and Ben tackle the university system – what has certainly been a hot topic that’s been dominating the news over the past few months. As Marc states at the top of the episode, universities matter tremendously to our world, but they’re currently in a state of crisis.

Together, Ben and Marc take a “structural” look at higher education, delving deep into the twelve functions of the modern university. They also unpack the numerous challenges that universities face today – student debt and the replication crisis, among them.

They also discuss topics including DEI, student athlete admissions, accreditation, inflation, and much more.

As colleges face an existential threat that could have long lasting repercussions, how can we find ways to improve these institutions, while being open to new entrepreneurial opportunities in education?

Check out the Ben and Marc show: https://link.chtbl.com/benandmarc

Stay Updated:

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Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

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Tetragrammaton with Rick Rubin✓Claim

Key Takeaways * The more technology and capitalism we get, the better things are going to get * Fundamentally, whether or not a startup succeeds depends on whether it is building a product that people want * Great people want to be around other great people; most companies are too tolerant of mediocrity * In the long run, even the most innovative companies eventually become boring * Tall Poppy Syndrome: Due to humanity’s tribal inclinations, the Tall Poppy – the person trying to do something new – tends to get cut * When something in tech is successful, it tends to change the status structures and hierarchies of society * The Law of Crappy People: The quality of any level in the company will degrade to the worst person at that level * “More companies die of indigestion than of starvation.” – Marc Andreessen * The best companies can think in the long term despite the pressures to prioritize the short-term * New things in the world are not going to show up predictably * By 2030 or 2035, you will be able to have the equivalent of 1,000 AI programmers writing code for you * Most people who are opposed to technological change are not opposed to the given technology but are opposed to how that technology may diminish their status and power

Read the full notes @ podcastnotes.org

Marc Andreessen is a prominent entrepreneur, investor, and software engineer best known for his key role in the development of the early internet. In the early 90s, Marc co-created Mosaic, a pioneering web browser, while a student at the University of Illinois at Urbana–Champaign. In 1994, he founded Netscape, launching the popular Netscape Navigator browser. After selling Netscape to AOL in 1999 for $4.3 billion, Marc founded Opsware, selling it later for $1.6 billion. In 2009, he co-founded Andreessen Horowitz, a venture capital firm that has backed, among others, Airbnb, Facebook, Instagram, and SpaceX. Known for his insights into technology, Marc's early work with Mosaic and Netscape significantly shaped the internet's growth, and his ongoing contributions continue to influence the tech industry.

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CryptoThe Investor's Podcast (TIP)

Key Takeaways * A three-step process for beating the market: avoid big risks, buy high-quality businesses at a fair price, and instead of being lazy, be very lazy * Optimal investments are made in businesses that are hard to destroy * The two primary mistakes that investors make: + #1. Doing something that you are not supposed to do (type I error) + #2. Not doing something that you are supposed to do (type II error) * Warren Buffett’s two rules of investing: + #1. Don’t lose money + #2. Don’t forget rule number one * “Think about risk first, not return.” – Pulak Prasad * Instead of spending time on projections and forecasts, study the history of the business so that you can understand it * In the long-run, things do not change that much; however, over shorter periods, there is an appearance that things are changing very fast * The Grant-Kurten Principle of Investing (GKPI): If you identify top-notch businesses that maintain their core qualities over time, you should use the short-term ups and downs in their fundamental performance to buy instead of sell * Steer clear of information that encourages short-term thinking * In the long run, price tracks value; you will be rewarded for holding onto a good investment

Read the full notes @ podcastnotes.org

On today’s episode, Kyle shares the lessons he learned from reading What I Learned About Investing From Darwin by Pulak Prasad.

The book is authored by Pulak Prasad, an investor out of India who helps run Nalanda Capital. From 2007 to 2022, they compounded their capital at 19% per annum turning 1 rupee into 13.8 rupees during that time sample!! But more important than their track record is the unique ways they run their fund.

The book illuminates 3 key principles that Nalanda uses for its investing framework:
1. Avoid big risks.
2. Buy high-quality at a fair price.
3. Don’t be lazy – be very lazy.

To help readers understand why he invests this way he dives deep into many of Darwin’s principles to help you understand their potential power in investing.

IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
20:26 - What a cheetah can teach you about risk
24:33 - Why you should be more focused on risk than returns
25:40 - How things in nature and investing mostly stay the same
27:42 - Some interesting data on why great companies remain great, and poor companies remain mediocre
28:29 - What a Russian scientist can teach us about the power of focusing on one investing metric to help identify wonderful businesses
34:58 - The importance of robustness in nature, and why you should search for the same attribute in business
37:00 - How to identify businesses that can evolve in a fast-changing world and remain on top
43:01 - What guppies can teach us about honest and dishonest signaling
46:06 - Why we should prioritize the past over making bold predictions
48:11 - How to invest without ever doing a discounted cash flow ever again
51:05 - What bear teeth and finches can teach us about the importance of avoiding noise
55:20 - How to use the presence of noise as an opportunity to outperform

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.

Check out What I Learned About Investing From Darwin.

Learn more about the Berkshire Summit by clicking here or emailing Clay at clay@theinvestorspodcast.com.

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Check out the books mentioned in the podcast here.

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Artificial Intelligence Podcast

Key Takeaways * The universe is biased towards certain futures; there is a natural direction where the whole system wants to go * If you believe the future will be better, and that you have the agency to make it happen, then you are increasing the likelihood of that better future happenings * “Technically, e/acc was started in a basement. I quit big tech, moved back in with my parents, sold my car, let go of my apartment, bought about $100K of GPUs, and I just started building.” – Guillaume Verdon * The goal of the e/acc movement is for the human techno-capital mimetic machine to become self-aware and to superstitiously engineer its growth * The core thesis of e/acc: The adaptation of the system is what has gotten us to this point in time; this process is good, and we should keep it going * The market is more efficient at achieving optimums than are heavy-handed regulations, which tend to be subversive and written by the incumbents * Any centralized power structure becomes a target for those who want to co-opt it * A system that maintains dynamism and adaptability avoids tyranny * The way to a good future is to shape adversarial equilibria between the various AI players * Whatever configuration of matter or information leads to maximal growth is where humans and AI will converge; we can either align ourselves with this trajectory or get left behind by trying to decelerate * Continuing to climb up the Kardashev scale is the great challenge of our time

Read the full notes @ podcastnotes.org

Guillaume Verdon (aka Beff Jezos on Twitter) is a physicist, quantum computing researcher, and founder of e/acc (effective accelerationism) movement. Please support this podcast by checking out our sponsors:
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Transcript: https://lexfridman.com/guillaume-verdon-transcript

EPISODE LINKS:
Guillaume Verdon Twitter: https://twitter.com/GillVerd
Beff Jezos Twitter: https://twitter.com/BasedBeffJezos
Extropic: https://extropic.ai/
E/acc Blog: https://effectiveaccelerationism.substack.com/

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OUTLINE:
Here's the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time.
(00:00) - Introduction
(09:18) - Beff Jezos
(19:16) - Thermodynamics
(25:31) - Doxxing
(35:25) - Anonymous bots
(42:53) - Power
(45:24) - AI dangers
(48:56) - Building AGI
(57:09) - Merging with AI
(1:04:51) - p(doom)
(1:20:18) - Quantum machine learning
(1:33:36) - Quantum computer
(1:42:10) - Aliens
(1:46:59) - Quantum gravity
(1:52:20) - Kardashev scale
(1:54:12) - Effective accelerationism (e/acc)
(2:04:42) - Humor and memes
(2:07:48) - Jeff Bezos
(2:14:20) - Elon Musk
(2:20:50) - Extropic
(2:29:26) - Singularity and AGI
(2:33:24) - AI doomers
(2:34:49) - Effective altruism
(2:41:18) - Day in the life
(2:47:45) - Identity
(2:50:35) - Advice for young people
(2:52:37) - Mortality
(2:56:20) - Meaning of life

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Infinite Loops

Key Takeaways * Viewing life as a video game can help you increase your agency * Don’t look for meaning; look for use * Resourcefulness is the defining characteristic of a high-agency person * “Pessimists sound smart, but optimists make money.” – Jim O’Shaughnessy * The Luck Razor: If you are between two opportunities, choose the one that will give you the potential to experience the greater amount of luck * The alpha is in all the things that the media ignores, but historians will study * If a person can extract all of your opinions based on just one of your opinions, then you might be a non-player character (NPC) * No matter how smart a person is, they cannot create a list of things that will never occur to them * Thinking that you are the genius in the midwit meme is the most midwit behavior possible

Read the full notes @ podcastnotes.org

Writer, marketer, entrepreneur, and master of mental models, George Mack, returns to discuss the top 0.1% of ideas he’s ever come across, from treating life as a video game to spotting high-agency individuals.

Important Links:

• George’s Twitter
• The Lindy Library
• Roy: A Life Well Lived (Rick and Morty)
• How to Spot High Agency People
• The Mack Meditation
• What is ignored by the media — but will be studied by historians?
• The Early-Late Razor

Show Notes:

• Treating Life as a Video Game
• Finding the Important Metrics
• Embrace Momentum; Embrace Constraints
• How to Spot High Agency People
• How to Increase Your Agency
• The Mack Meditation & Silence as Alpha
• Why Pessimism vs Optimism is the Wrong Debate
• The Future of Media
• What is Ignored by the Media but will be Studied by Historians?
• The Reddit to Facebook Continuum
• George’s Most Midwit Opinion
• Randomness & Feeding the Algorithm
• How to Retain Curiosity
• George as Emperor of the World

Books Mentioned:

• The Hypomanic Edge: The Link Between (a Little) Craziness and (a Lot Of) Success in America; by John Gartner
• Happy: Why More or Less Everything is Absolutely Fine; by Derren Brown
• What Works on Wall Street; by Jim O’Shaughnessy
• The Secret; by Rhonda Byrne
• Gödel, Escher, Bach: an Eternal Golden Braid; by Douglas Hofstadter
• The Beginning of Infinity: Explanations that Transform the World; by David Deutsch

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The Danny Miranda Podcast

Key Takeaways * The purpose of meditation for Robert Greene was not to renounce worldly ambitions but to find self-awareness and connect ambitions to his true self * Lessons from 12+ years of meditation: + Robert’s meditation practice involves daily sessions of Zen meditation, sitting for 35-45 minutes in complete silence + Meditation is a source of creativity as it taps into his unconscious and brings forth new and unexplored ideas + The mind becomes like an empty, blue sky—free from hindrances and fixed ideas—through meditation + He emphasizes the importance of connecting ambition to something deep within oneself, rather than pursuing empty or external goals * Those who constantly seek distractions instead of facing boredom weaken their ability to handle resistance * Writers in their 20s often make the following mistakes: + Poor punctuation, spelling, and grammar skills + Underestimating the importance of writing as a skill + Assuming that writing doesn’t require effort or practice + Focusing on their ego rather than effective communication + Using clever phrases and puns without conveying meaningful content * Writing is not about self-expression but about communicating effectively with others * Developing empathy involves redirecting narcissism and self-love toward others and being genuinely interested in understanding their perspectives * Reading people’s emotions and moods, rather than trying to read their minds, is crucial in understanding and connecting with them * Those who have a clear sense of their unique destiny from an early age tend to have more success and power in life * Success, for Robert, is the feeling of freedom where he doesn’t have bosses, people pressuring him, or limitations on what he can write about * The experience of being in a coma, waking up, and realizing how close he came to death made death more than just an intellectual idea—it became a physical presence * He always prioritized gaining life experiences and finding things interesting over monetary considerations * “The 48 Laws of Power” continues to sell well because it transcends specific periods and remains applicable to the current power dynamics, especially with the rise of social media and the internet * He does not aim to create sequels or repeat past successes for the sake of making money but instead focuses on exploring new areas and ideas * Robert is currently working on a book about the sublime, which builds upon the final chapter of “The Laws of Human Nature” and “The 50th Law” (co-authored with 50 Cent) that touched on the subject * Robert suggests a challenge for listeners to spend five minutes every day questioning thoughts, feelings, desires, and motivations instead of assuming that everything is known

Read the full notes @ podcastnotes.org

Robert Greene is a writer. His books have sold millions of copies (including The 48 Laws of Power).

In this conversation, we spoke about what new writers get wrong, valuing experiences over money, why his ideas have stuck for 25+ years, developing empathy, and the role of meditation in his own life.

(0:00) Intro

(1:58) Ancient Greece & 17th Century France

(6:55) Avoiding Yes Men

(10:53) Following Up On Success

(13:10) Lessons From 12+ Years of Meditation

(27:58) Importance Of Boredom

(36:00) What Do Most Writers In 20s Get Wrong?

(40:21) Developing Empathy

(46:38) The Voice

(52:28) Do People’s Problems Stick To Robert?

(54:12) Success = Freedom

(56:08) Death

(1:06:00) Ryan Holiday

(1:10:01) Valuing Experiences Over Money

(1:14:45) Longevity Of Ideas

(1:17:54) Robert’s Next Project

(1:20:04) Challenge

Robert’s Links

Website: https://powerseductionandwar.com

Twitter: https://twitter.com/robertgreene

Instagram: https://www.instagram.com/robertgreeneofficial

My Links

🎙 Podcast: https://anchor.fm/dannymiranda

🎥 YouTube: https://youtube.com/dannymiranda

🐣 Twitter: https://twitter.com/heydannymiranda

📸 Instagram: https://instagram.com/heydannymiranda

🕺 TikTok: https://tiktok.com/@heydannymiranda

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Founders ✓

Claim

Key Takeaways * “The difference between one advertisement and another, when measured in terms of sales, can be as much as nineteen to one.” – David Ogilvy * Pay peanuts and you get monkeys * “I admire people who work with gusto. If you don’t enjoy what you are doing, I beg you to find another job. Remember the Scottish proverb: Be happy while you are living because you are a long time dead.” – David Ogilvy * The most important thing you will decide is what benefit to promise * “You are not advertising to a standing army. You are advertising to a moving parade.” – David Ogilvy * Most successful careers are built on isolated incidents * Study the great work that came before you * “I have come to the conclusion that the top man has one principal responsibility: to provide an atmosphere in which creative mavericks can do useful work.” – David Ogilvy * Tolerate genius and do not strangle the goose that lays the golden egg * Talent is most likely found among non-conformists, dissenters, and rebels * “In the best companies, promises are always kept, whatever it may cost in agony and overtime.” – David Ogilvy

Read the full notes @ podcastnotes.org

What I learned from reading Confessions of an Advertising Man by David Ogilvy.

This episode is brought to you by Tiny: Tiny is the easiest way to sell your business. Tiny provides quick and straightforward exits for Founders. Get in touch by emailing hi@tiny.com

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(4:15) When Fortune published an article about me and titled it: "Is David Ogilvy a Genius?," I asked my lawyer to sue the editor for the question mark.

(4:45) The people who built the companies for which America is famous, all worked obsessively to create strong cultures within their organizations. Companies that have cultivated their individual identities by shaping values, making heroes, spelling out rites and rituals, and acknowledging the cultural network, have an edge

(5:30) We prefer the discipline of knowledge to the anarchy of ignorance. We pursue knowledge the way a pig pursues truffles. A blind pig can sometimes find truffles, but it helps to know that they grow in oak forests.

(5:48) We hire gentlemen with brains.

(6:16) Only First Class business, and that in a First Class way.

(6:25) Search all the parks in all your cities; you'll find no statues of committees.

(9:45) Buy Ogilvy on Advertising

(10:45) One decent editorial counts for a thousand advertisements. + You simply cannot mix your messages when selling something new. A consumer can barely handle one great new idea, let alone two, or even several. — Against the Odds: An Autobiography by James Dyson (Founders #300)

(15:22) It was inspiring to work for a supreme master. M. Pitard did not tolerate incompetence. He knew that it is demoralising for professionals to work alongside incompetent amateurs.

(16:66) You have to be ruthless if you want to build a team of A players. It's too easy, as a team grows, to put up with a few B players, and they then attract a few more B players, and soon you will even have some C players. The Macintosh experience taught me that A players like to work only with other A players, which means you can't indulge B players.

(18:12) In the best companies, promises are always kept, whatever it may cost in agony and overtime.

(18:33) I have come to the conclusion that the top man has one principal responsibility: to provide an atmosphere in which creative mavericks can do useful work.

(19:38) I admire people who work hard, who bite the bullet.

(19:58) I admire people with first class brains.

(20:23) I admire people who work with gusto. If you don't enjoy what you are doing, I beg you to find another job. Remember the Scottish proverb, "Be happy while you're living, for you're a long time dead."

(20:50) I admire self-confident professionals, the craftsmen who do their jobs with superlative excellence.

(21:40) The best way to keep the peace is to be candid.

(23:18) That’s been the most important lesson I’ve learned in business: that the dynamic range of people dramatically exceeds things you encounter in the rest of our normal lives—and to try to find those really great people who really love what they do. — Make Something Wonderful: Steve Jobs in his own words. (Founders #299)

(24:39) 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 #206)

(25:09) Claude Hopkins episodes:

My Life in Advertising by Claude Hopkins. (Founders #170)

Scientific Advertising by Claude Hopkins. (Founders #207)

(25:47) Talent is most likely to be found among nonconformists, dissenters, and rebels.

(26:49) The majority of business men are incapable of original thinking because they are unable to escape from the tyranny of reason. Their imaginations are blocked.

(28:21) This podcast studies formidable individuals.

(31:40) Samuel Bronfman: The Life and Times of Seagram’s Mr. Sam by Michael R. Marrus. (Founders #116)

(37:47) I doubt whether there is a single agency (or company) of any consequence which is not the lengthened shadow of one man.

(39:51) Don't bunt. Aim out of the park. Aim for the company of immortals.

(40:13) Most big corporations behave as if profit were not a function of time.

When Jerry Lambert scored his first breakthrough with Listerine, he speeded up the whole process of marketing by dividing time into months. Instead of locking himself into annual plans, Lambert reviewed his advertising and his profits every month.

The result was that he made $25,000,000 in eight years, where it takes most people twelve times as long. In Jerry Lambert's day, the Lambert Pharmaceutical Company lived by the month, instead of by the year.

(41:30) The Mind of Napoleon: A Selection of His Written and Spoken Words edited by J. Christopher Herold. (Founders #302)

(41:36) I am an inveterate brain picker, and the most rewarding brains I have picked are the brains of my predecessors and my competitors.

(43:27) We make advertisements that people want to read. You can't save souls in an empty church.

(44:05) You aren't advertising to a standing army; you are advertising to a moving parade.

(45:13) The headline is the most important element in advertisements.

(47:47) Runnin' Down a Dream: How to Succeed and Thrive in a Career You Love by Bill Gurley

(48:15) Set yourself to becoming the best-informed man in the agency on the account to which you are assigned.

If, for example, it is a gasoline account, read text books on the chemistry, geology and distribution of petroleum products. Read all the trade journals in the field. Read all the research reports and marketing plans that your agency has ever written on the product. Spend Saturday mornings in service stations, pumping gasoline and talking to motorists. Visit your client's refineries and research laboratories. Study the advertising of his competitors. At the end of your second year, you will know more about gasoline than your boss.

Most of the young men in agencies are too lazy to do this kind of homework. They remain permanently superficial.

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“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

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Modern Wisdom

Key Takeaways * Tracking how you spend your time allows you to optimize your life; it becomes very apparent where you waste time and where you should be spending more of it * Be excited about becoming a better version of yourself * Take the time to design the life you want to live, and then take the steps to grow into it * Create disciplined habits to reduce the effort required to stick with them; eventually, these habits become intuitive and effortless * Immediately take action on emergent friction, eliminate it, and get back into harmony * The joy of life is living in a balanced and harmonious state, and continually evolving into your limitless potential * You must reflect so you can decide which parts of your life must change or adapt * Your ability to spend your time on the things that you want will be dictated by the amount of money you need to live the life you want to live * “You don’t ever want to ‘get somewhere.’ You want to be there, always.” – Rob Dyrdek

Read the full notes @ podcastnotes.org

Rob Dyrdek is a former professional skateboarder, entrepreneur, reality TV star, venture capitalist and a producer.

What if you tracked every second of your life? What if you dialled in every process, calorie, action and thought to facilitate your best performance? What if you manifested a Playboy wife out of thin air by just wanting her a lot? Today we get to find out.

Expect to learn about Rob’s journey from a small-town kid to a globally successful entrepreneur, his rigorous system for intentionality and productivity, the crucial factors that propelled him towards success, the system behind Rob’s meticulous tracking of his daily activities, how Rob met his dream wife, Rob's bulletproof investment strategy, his thoughts on the personal development space and much more...

Sponsors:

Get over 37% discount on all products site-wide from MyProtein at https://bit.ly/proteinwisdom (use code: MODERNWISDOM)

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Extra Stuff:

Check out Rob's website - https://dyrdekmachine.com/

Get my free Reading List of 100 books to read before you die → https://chriswillx.com/books/

To support me on Patreon (thank you): https://www.patreon.com/modernwisdom

Get in touch.

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My First Million

Key Takeaways * Check out My First Million Podcast Episode Page & Show Notes

Read the full notes @ podcastnotes.org

Shaan's Free Workshop --> http://bit.ly/3INb6EV

Episode 462: Sam Parr (@TheSamParr) and Shaan Puri (@ShaanVP) talk with Alex Hormozi (@AlexHormozi), founder of GymLaunch and Acquisition.com, about what he regrets about selling his business and why he's pumped about starting a new one, how he spends his money, and his secret to a successful marriage.

Want to see more MFM? Subscribe to the MFM YouTube channel here.

Check Out Shaan's Stuff:

• Power Writing Course

• Daily Newsletter

Check Out Sam's Stuff:

• Hampton

• Ideation Bootcamp

• Copy That

Show Notes:

(04:00) - Upsides and Downsides of being famous

(10:45) - Status of Acquisition

(31:55) - Regrets about selling

(41:30) - Why do people get mega rich?

(58:20) - Who do you admire?

(01:04:40) - Secrets of successful marriages

(01:13:30) - What products/brands are you obsessed with?

(01:18:10) - What are you doing with your money?

Links:

• Acquisition

• Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.

Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

Additional episodes you might enjoy:

• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits

• #209 Gary Vaynerchuk - Why NFTS Are the Future

• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto

• 169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett

• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates

• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More

• How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

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Business Breakdowns✓Claim

Key Takeaways * Check Out the Business Breakdowns Episode Page & Show Notes

Read the full notes @ podcastnotes.org

This is Dom Cooke and today we’re breaking down Bayern Munich. Bayern is Germany’s most successful football club and one of the world’s biggest. Most importantly, it makes a great case for being the best-run club in football. It has an enterprise value close to €3 billion, no debt, has been profitable for 3 decades, and is majority owned by fans. Plus, it has a trophy cabinet to rival any club worldwide. Bayern has won a record 32 national Bundesliga titles, including the last ten in a row, and has won the prestigious Champions League, six times.
To break down the business behind the club, I’m joined by Marie Schulte-Bockum, a football journalist and Munich resident. Please enjoy this Business Breakdown of FC Bayern Munich.
For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.

This episode is brought to you by Tegus. Tegus is the modern research platform for leading investors, and provider of Canalyst. Tired of calculating fully-diluted shares outstanding? Access every publicly-reported datapoint and industry-specific KPI through their database of over 4,000 driveable global models handbuilt by a team of sector-focused analysts, 25+ industry comp sheets, and Excel add-ins that let you use their industry-leading data in your own spreadsheets. Tegus’ models automatically update each quarter, including hard to calculate KPIs like stock-based compensation and organic growth rates, empowering investors to bypass the friction of sourcing, building and updating models. Make efficiency your competitive advantage and take back your time today. As a listener, you can trial Canalyst by Tegus for free by visiting tegus.co/patrick.

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Show Notes
(00:02:38) - (First question) - Overview of Bayern Munich
(00:05:37) - How Bayern’s been able to maintain such consistent success writ large
(00:12:39) - What the 50+1 rule is and its implications for German football clubs
(00:17:24) - Major differences between the Bundesliga and other European leagues
(00:22:30) - What it takes to run a high performance team like Bayern Munich
(00:28:39) - Driving profits and the three major revenue buckets for Bayern Munich
(00:35:48) - Germany’s influence being the biggest economy in the European Union
(00:38:40) - How important European football is to every major club and broadcasting revenue
(00:43:20) - Whether Bayern are buyers, builders, or borrowers in regards to their team
(00:51:15) - Overview of their expenses and the size of their wage bill
(00:53:43) - What financial fair play is and how it protects football clubs
(00:57:27) - How they’ve managed to cultivate one of the biggest fanbases in the world
(01:02:14) - Potential risks for Bayern Munich’s continued success
(01:04:18) - League-level discussions around sharing revenue equitably
(01:05:34) - Lessons for builders and investors when studying Bayern Munich’s story
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Founders✓Claim

Key Takeaways * Check Out the Founders Podcast Episode Page & Show Notes

Read the full notes @ podcastnotes.org

What I learned from reading The Mind of Napoleon: A Selection of His Written and Spoken Words edited by J. Christopher Herold.

This episode is brought to you by EightSleep: Get the best sleep of your life and unlock more energy with the Pod 3. Go to eightsleep.com/founders/

This episode is brought to you by Meter: Meter is the easiest way for your business to get fast, secure, and reliable internet and WiFi in any commercial space. Go to meter.com/founders

This episode is brought to you by Tiny: Tiny is the easiest way to sell your business. Tiny provides quick and straightforward exits for Founders. Get in touch by emailing hi@tiny.com

Follow one of my favorite podcasts Invest Like The Best and listen to episode 326 Alexis Rivas

Subscribe to listen to Founders Premium — Subscribers can ask me questions directly and listen to Ask Me Anything (AMA) episodes.

[3:45] A man who combined energy of thought and energy of action to an exceptional degree.

[4:45] He knows that men have always been the same, that nothing can change their nature. It is from the past that he will draw his lessons in order to shape the present.

[5:15] Destiny must be fulfilled. That is my chief doctrine.

[6:05] Napoleon: A Concise Biography by David Bell (Founders #294)

[9:25] To aim at world empire seemed to Napoleon a most natural thing.

[10:00] To have lived without glory, without leaving a trace of one's existence, is not to have lived at all.

[10:55] The greatest improvisation of the human mind is that which gives existence to the nonexistent.

[11:45] The best way to understand a person is to listen to that person directly. — Make Something Wonderful: Steve Jobs in his own words (Founders #299)

[12:55] The great majority of men attend to what is necessary only when they feel a need for it—the precise time when it is too late.

[16:10] The worst way to live according to Napoleon:

When on rising from sleep a man does not know what to do with himself and drags his tedious existence from place to place; when, scanning his future, he sees nothing but dreadful monotony, one day resembling the next; when he asks himself, "Why do I exist?”—then, in my opinion, he is the most wretched of all.

[17:45] Instead his (Steve Jobs) ego needs and personal drives led him to seek fulfillment by creating a legacy that would awe people. A dual legacy, actually: building innovative products and building a lasting company. He wanted to be in the pantheon with, indeed a notch above, people like Edwin Land, Bill Hewlett, and David Packard. — Steve Jobs: The Exclusive Biography by Walter Isaacson. (Founders #214)

[19:15] He must know himself. Until then, all endeavors are in vain, all schemes collapse.

[20:15] Napoleon on George Washington: Britain refused to acknowledge either him or the independence of his country; but his success obliged them to change their minds and acknowledge both. It is success which makes the great man.

[21:15] Washington saw the conflict as a struggle for power in which the colonists, if victorious, destroyed British pretentions of superiority and won control over half of a continent. — Franklin & Washington: The Founding Partnershipby Edward Larson. (Founders #251)

[23:15] If you do everything you will win: All great events hang by a single thread. The clever man takes advantage of everything, neglects nothing that may give him some added opportunity; the less clever man, by neglecting one thing, sometimes misses everything.

[23:45] Warren Buffett: We are individually opportunity driven. — All I Want To Know Is Where I'm Going To Die So I'll Never Go There: Buffett & Munger – A Study in Simplicity and Uncommon, Common Sense by Peter Bevelin. (Founders #286)

[24:15] Imagination rules the world.

[25:00] Ambition is a violent and unthinking fever that ceases only when life ceases.

[34:52] The corpse of an enemy always smells sweet.

[35:30] Roots of Strategy: Book 1

[38:45] Robert Caro profiled two men who seeds were not high (in a tournament) they were without many advantages. And to get all the way to the top you probably had to sacrifice everything to the effort. The meta lesson is if you are not willing to pay that price presume someone else will.

If you want something like the presidency (or being a billionaire) you should presume there is someone out there who will devote all their time, money, relationships, sense of ethics, everything in sacrifice of that one goal. Of course that person would win that race. — Invest Like The Best Sam Hinkie Find Your People

[40:45] I do not want be roadkill on the modern-day Napoleon's path to glory.

[43:15] The ancients had a great advantage over us in that their armies were not trailed by a second army of pen pushers.

[44:05] A wasted life should be your greatest fear.

[46:30] Make use of every possible opportunity of increasing your chances of victory.

[48:55] Paul Graham on Be Hard to Kill:

The way to make a startup recession-proof is to do exactly what you should do anyway: run it as cheaply as possible.

For years I've been telling founders that the surest route to success is to be the cockroaches of the corporate world. The immediate cause of death in a startup is always running out of money. So the cheaper your company is to operate, the harder it is to kill. — Paul Graham’s essays (Founders #275)

[51:30] Winning is the main thing. Keep the main thing, the main thing.

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“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

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Founders✓Claim

Key Takeaways * You do not get to the top of your profession without studying the greats that came before you * Tiger hit his first golf ball when he was 11 months old, and by the age of two he would spend several hours each day hitting golf balls * Tiger was unusually disciplined as a five-year-old, was a gifted student, and seldom spoke * Earl Woods had a “messiah-like” vision for his son * At the age of 12, Earl Woods put his son through what he called “Woods Finishing School,” which included psychological warfare and prisoner-of-war techniques that he once taught to soldiers in Vietnam * “Practice, practice, practice” was how Tiger got so good at golf * It is hard to compete against someone who is obsessed and willing to do more work than anyone else * “I want to be the Michael Jordan of golf. I want to be the best ever.” – Tiger Woods * Tiger never rested after a win; the joy he felt from winning tournaments was always fleeting * Woods kept score; trophies symbolized wins, and wins denoted dominance * Tiger was obsessed with privacy and loyalty; he owned two private yachts, one named “Privacy” and another “Solitude” * The breakdown of Tiger’s body was accelerated by his extreme exercise regime and his fascination with Navy SEAL training * Tiger’s greatest strength – his high tolerance for pain – may have also been his greatest weakness * “The problem isn’t getting rich. It is staying sane.” – Charlie Munger

Read the full notes @ podcastnotes.org

What I learned from reading Tiger Woods by Jeff Benedict and Armen Keteyian.

This episode is brought to you by Tiny: Tiny is the easiest way to sell your business. Tiny provides quick and straightforward exits for Founders.

This episode is brought to you by Meter: Meter is the easiest way for your business to get fast, secure, and reliable internet and WiFi in any commercial space. Go to meter.com/founders

Follow one of my favorite podcasts Invest Like The Best and listen to episode 326 Alexis Rivas

Subscribe to listen to Founders Premium — Subscribers can ask me questions directly and listen to Ask Me Anything (AMA) episodes.

[3:00] He was someone no one had ever seen or will ever see again.

[5:20] You can always understand the son by the story of his father. The story of the father is embedded in the son. — Francis Ford Coppola: A Filmmaker's Life by Michael Schumacher. (Founders #242)

[7:15] His output was enormous, much greater than that of nine tenths of other composers. He was a mature artist in most forms at the age of twelve. There was never a month, often scarcely a week, when he did not produce a substantial score. — Mozart: A Life by Paul Johnson. (Founders #240)

[7:50] Tiger's opponents were never people; it was always history.

[14:05] I've always been a practice player. I believe in it. — Michael Jordan: The Lifeby Roland Lazenby. (Founders #212)

[17:00] Grinding It Out: The Making of McDonald's by Ray Kroc. (Founders #293)

[18:30] Tiger was filling his mind with words that were intended to make him great. He wrote some of the messages from the self-help cassettes on a sheet of paper that he taped to his bedroom wall:

I believe in me

I will own my own destiny

I smile at obstacles

I am first in my resolve

I fulfill my resolutions powerfully

My strength is great

I stick to it, easily, naturally

My will moves mountains

I focus and give it my all

My decisions are strong

I do it with all my heart

Tiger listened to those tapes so often that he wore them out.

[31:50] People would ask him how did you get so good Tiger? And he would answer, practice, practice, practice.

[32:10] The world is a very malleable place. If you know what you want, and you go for it with maximum energy and drive and passion, the world will often reconfigure itself around you much more quickly and easily than you would think. —The Pmarca Blog Archive Ebook by Marc Andreessen.

[36:45] The Score Takes Care of Itself: My Philosophy of Leadership by Bill Walsh. (Founders #106)

[40:15] That’s all training is. Stress. Recover. Improve. You’d think any damn fool could do it. But you don’t. You work too hard and rest too little and get hurt. — Bowerman and the Men of Oregon: The Story of Oregon's Legendary Coach and Nike's Cofounder by Kenny Moore. (Founders #153)

[46:15] Money didn't motivate him. Nor did fame. He played for the hardware. He played for the win.

[53:45] Robert Caro’s Books

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“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

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My First Million

Key Takeaways * Martin Shkreli worked for Jim Cramer’s hedge fund when he was in high school * Martin became a millionaire at the age of 29 when he took his pharma company public * “PubMed is the government database of all scholastic biomedical literature – so 36 million papers. If you sit there long enough and you have the passion, you can become a billionaire.” – Martin Shkreli * It is not a crime to choose the price of your product * He was bothered by the politicians trying to take the right away from entrepreneurs to set the price of their products, what he calls “regulation by embarrassment” * If the regulators can tell Martin Shkreli what the price of his product should be, what is stopping them from setting the price of the iPhone? * How much should a drug cost if it prevents the need for getting a $1 million surgery? * After raising the price of the drug, there were zero patients that were unable to get the drug * He hoped his casualness would encourage them to do some research and find out that no one (other than the insurance companies) were affected by the price increase * Modern CEOs are not allowed to have a real personality: no one in the corporate world is allowed to have an opinion because it might be held against them or their company * Magic happens when you provide capital to great people with great assets * Healthcare is more expensive than we’d like mostly because of the artificially constrained supply of healthcare professionals, according to Martin Shkreli

Read the full notes @ podcastnotes.org

Episode 445: Shaan Puri (@ShaanVP) and Sam Parr (@TheSamParr) talk with Martin Shkreli (@marty_catboy), aka "the most hated man in America", about how he got started in pharma, his logic behind raising the price of Daraprim, why he spent time in prison, and what business he's starting now.

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Check Out Sam's Stuff:
Hampton
Ideation Bootcamp
* Copy That

Check Out Shaan's Stuff:
Power Writing Course
Daily Newsletter

Links:
Dr. Gupta AI
@martinshkreli15 (Instagram)
* Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.

Show Notes:
(00:30) - Intro to Martin Shkreli
(02:10) - When Martin worked with Jim Cramer
(23:00) - How he turned $2M into $1B in pharma
(35:40) - Why did you jack up the price of the drugs?
(54:20) - What do you do with your money?
(01:00:33) - The Fun Strikes Back Movement
(01:08:30) - Introducing Martin's New Company: Dr. Gupta AI
(01:33:50) - Who are your heroes?

Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

Additional episodes you might enjoy:
• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits
• #209 Gary Vaynerchuk - Why NFTS Are the Future
• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto
* #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett
• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates
• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More
• How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

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My First Million

Key Takeaways * Check out My First Million Podcast Episode Page & Show Notes

Read the full notes @ podcastnotes.org

Episode 448: Sam Parr (@TheSamParr) talks with David Senra (@FoundersPodcast), Founder of Founder's podcast, about his love of podcasting, how to become a killer in business, and life lessons from successful entrepreneurs.
Click here to sign up for our event in Austin, TX on Saturday April 29th: mfmpod.com/atx
Want to see more MFM? Subscribe to the MFM YouTube channel here.

Check Out Sam's Stuff:
Hampton
Ideation Bootcamp
* Copy That

Check Out Shaan's Stuff:
Power Writing Course
Daily Newsletter

Links:
Founders podcast
James Dyson's autobiography
* Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.

Show Notes:
(02:25) - What did you do before Founders?
(03:55) - How big is the podcast?
(10:40) - How many books do you read?
(18:50) - The difference between pretty good and killers
(21:00) - Can you make yourself a killer?
(28:20) - Finding good industries to get into
(46:20) - Lessons from meeting Sam Zell and Charlie Munger
(59:20) - What is next for you?
(01:17:25) - Chuck Yeager

Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

Additional episodes you might enjoy:
• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits
• #209 Gary Vaynerchuk - Why NFTS Are the Future
• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto
* #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett
• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates
• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More
• How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

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Founders✓Claim

What I learned from reading Against the Odds: An Autobiography by James Dyson for the 4th time. You can also find the book on Book Finder.

This episode is brought to you by Meter: Meter is the easiest way for your business to get fast, secure, and reliable internet and WiFi in any commercial space. Go to meter.com/founders

This episode is brought to you by Tiny: Tiny is the easiest way to sell your business. Tiny provides quick and straightforward exits for Founders.

Follow one of my favorite podcasts Invest Like The Best and listen to episode 293 David Senra: Passion and Pain

[4:30] Invention: A Life by James Dyson (Founders #205)

[2:41] I am a creator of products, a builder of things, and my name appears on them. That is how I make a living and they are what have made my name at least familiar in a million homes.

[11:00] Isambard Kingdom Brunel: The Definitive Biography of The Engineer, Visionary, and Great Briton by L.T.C. Rolt. (Founders #201)

[13:10] After the idea there is plenty of time to learn the technology. My first cyclonic vacuum cleaner was built out of cereal packets and masking tape long before I understood how it worked.

[14:15] Difference for the sake of it. In everything. Because it must be better. From the moment the idea strikes, to the running of the business. Difference, and retention of total control.

[18:00] I would not be dragged into something I didn't want to do.

[22:40] They were all running round and round the track like a herd of sheep and not getting any quicker. Difference itself was making me come in first.

[23:34] As I grew more and more neurotic about being caught from behind I trained harder to stay in front. To this day it is the fear of failure, more than anything else, which makes me keep working at success.

[27:20] Isambard Kingdom Brunel was unable to think small, and nothing was a barrier to him. The mere fact that something had never been one before presented, to Brunel, no suggestion that the doing of it was impossible.

He was fired by an inner strength and self-belief almost impossible to imagine in this feckless age.

While I could never lay claim to the genius of a man like that —I have tried to be as confident in my vision as he was.

And at times in my life when I have encountered difficulty and self-doubt I have looked to his example to fire me on.

[30:33] The vision of a single man pursued with dogged determination that was nothing less than obsession.

[36:30] The root principle was to do things your way. It didn't matter how other people did it.

[41:38] You simply cannot mix your messages when selling something new. A consumer can barely handle one great new idea, let alone two, or even several.

[49:30] A direct relationship with the customer is the holy grail. Do not abandon it.

[52:00] One of the strains of this book is about control. If you have the intimate knowledge of a product that comes with dreaming it up and then designing it, I have been trying to say, then you will be the better able to sell it and then, reciprocally, to go back to it and improve it. From there you are in the best possible position to convince others of its greatness and to inspire others to give their very best efforts to developing it, and to remain true to it, and to see it through all the way to its optimum point. To total fruition, if you like.

[1:02:20] Before I went into production with the dual cyclone I had built 5,127 prototypes.

[1:02:30] There is no such thing as a quantum leap. There is only dogged persistence – and in the end you make it look like a quantum leap.

[1:03:30] While it is easy, of course, for me to celebrate my doggedness now and say that it is all you need to succeed, the truth is that it demoralized me terribly. I would crawl into the house every night covered in dust after a long day, exhausted and depressed because that day's cyclone had not worked. There were times when I thought it would never work, that I would keep on making cyclone after cyclone, never going forwards, never going backwards, until I died.

[1:06:20] I was broke, hungry and depressed. The outlook was very dreary. My doggedness and self-belief in the absence of any real evidence that they were justified was beginning to look more and more like insanity.

[1:10:30] Persistent trial and error allows them to wake up one morning after many, many mornings with a world beating product.

[1:13:15] I began to consider forgetting the whole thing and doing something else with my life.

[1:16:00] The poor buggers were so wrong, to think that designers knew nothing about business, or about marketing, or is about selling. It is the people who make the things that understand them, and understand what the public wants.

[1:21:30] Go further. There is nothing wrong with making the consumer laugh. Conventional looks do not make a product more marketable.

Subscribe to listen to Founders Premium — Subscribers can ask me questions directly and listen to Ask Me Anything (AMA) episodes.

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“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

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Knowledge Project

Key Takeaways * Be the same person at work as you are at home * Earned success is the key to happiness * Understand that reality hits you at every moment and that there are costs to not embracing it * Understand what it is you are actually betting on when you make an investment * Write about the topics that you actually care about; do not write about what you think someone else will think is interesting * “It’s easier to hold your principles 100 percent of the time than it is to hold them 98 percent of the time.” – Dr. Clayton Christensen * Leaders often spend more time worrying about the 95% of people delivering 10% of the value compared to worrying about the 5% of people that deliver 90% of the value * Your role as a leader might be to find a handful of people that will change the trajectory of a company * “The main thing is keeping the main thing the main thing.” – Jim Barksdale * Good decision-makers do not confuse activity with insight * You can bounce back from any mistake other than a mistake of integrity * “I think all you can really do as a leader of a company is have people believe that the decisions you’re making are always in the best interest of the company.” – Ravi Gupta

Read the full notes @ podcastnotes.org

One of the main jobs Ravi Gupta has as a partner at venture capital giant Sequoia Capital is to help founders see the difference between fantasy and reality. On this episode of The Knowledge Project, Gupta dives deep into a wide range of topics that will help you better understand the realities of success, decision making, why it’s crucial to practice doing things you don’t want to do, the best advice he ever received, and the value of quality over quantity. Gupta has served as a partner at Sequoia Capital since 2019. Prior to joining the world of venture capital he served as the Chief Operating Officer and Chief Financial Officer for Instacart, and he also spent a decade working in private equity with KKR & Co. --

Want even more? Members get early access, hand-edited transcripts, member-only episodes, and so much more. Learn more here: https://fs.blog/membership/

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Follow Shane on Twitter at: https://twitter.com/ShaneAParrish

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Infinite Loops

Key Takeaways * Check out Infinite Loops Podcast Episode Page & Show Notes

Read the full notes @ podcastnotes.org

Alex Danco returns for his seventh (yes, SEVENTH) appearance on Infinite Loops to discuss, as usual, pretty much everything other than the topics we had prepared in advance.

This week, we discuss: The two types of lawyers, what Alex learned from reading Don Quixote, Elon the Reply Guy, the psychology of Seinfeld, the best Wall Street Movies, and much more.

Important Links:

• Twitter: https://twitter.com/Alex_Danco
• Website: https://alexdanco.com/
• Newsletter: https://danco.substack.com/

Show Notes:

• The two kinds of lawyers
• Medicine, placebo, Don Quixote & theatre
• Heroes, villains & main characters
• Elon the Reply Guy
• Safe words, scams & narrative collapse
• Self-deception is multiplayer
• The psychology of Seinfeld
• To what extent are great innovations already baked into the systems?
• Margin Call: The two schools of thought
• The best Wall Street movies
• MUCH more!

Books Mentioned:

• The Theory And Practice Of Gamesmanship Or The Art Of Winning Games Without Actually Cheating; by Stephen Potter
• Don Quixote; by Miguel de Cervantes
• The Fifth Science; by Exurb1a
• The Status Game: On Human Life and How to Play It; by Will Storr
• The Lucifer Principle: A Scientific Expedition into the Forces of History; by Howard K. Bloom
• Games People Play: The Psychology of Human Relationships; by Eric Berne
• Mendel's Dwarf; by Simon Mawer
• The Big Short: Inside the Doomsday Machine; by Michael Lewis
• The Bonfire of the Vanities; by Tom Wolfe
• The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron; by Peter Elkind & Bethany McLean

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The Nick Huber Show ✓ Claim

Podcast Notes Key Takeaways * Capital providers are waiting for interest rates to stabilize prior to coming back into the real estate market * Despite how it may seem on Twitter, it is actually really hard to make money in the real estate business * Class A storage is branded as “nice storage” but it requires renting a truck, moving your stuff with a dollie, putting it on an elevator, etc. * As interest rates rise, the people with the capital can now park it in treasury bills and earn 4-5% “risk-free” instead of allocating to real estate ventures * The risk-free rate is no longer 0% like it was for much of the last several years * Many real estate investors, accountants, and CPAs are not aware of cost segregation * Any real estate that people have bought after September 2017 can still be cost-segregated, or “cost-segged” by filing a Form 3115 * Cost segregation is effectively borrowing money from the IRS and works best when you plan to hold the property for several years * You get a look into someone’s brain when you follow them on Twitter * Sharing what you know on Twitter can pull forward your career trajectory by twenty years * Twitter is a modern-day business tool to build trust and friendships at scale * The ability to simplify complex topics and share that with the world is a superpower

Read the full notes @ podcastnotes.org

Today’s episode is a repost from The Fort podcast by Chris Powers that originally aired on February 16th, 2023. I sit down with Chris and my business partner Mitchell Baldridge to discuss the current real estate market, how Twitter changed our lives, and Mitchell and I’s new business RE Cost Seg.

Chris is a mentor of mine and I highly recommend listening to his podcast, The Fort. https://www.thefortpod.com

If you want to learn more about RE Cost Seg, please click here. https://www.recostseg.com

Thank you and I hope you enjoy the conversation.

FREE PDF - How to analyze a property and know what it's worth: https://sweatystartup.ck.page/79046c9b03

Check my free resources about Real Estate: https://sweatystartup.com/courses/

Check out my free Delegation / Hiring 101 course!
Click here: https://nickhuber.podia.com/delegation-hiring-101

We're hiring! Visit:
https://sweatystartup.com/hiring

Check my free resources about Real Estate: https://sweatystartup.com/courses/

Read the full show notes here: https://sweatystartup.com/series/the-nick-huber-show/

Join my Real Estate community here: https://sweatystartup.com/rec

Special thanks to the sponsors:
• https://junipersquare.com
• https://recostseg.com/

Twitter Growth Mastery Course: https://sweatystartup.com/twitter

Want to hire me as a consultant? Click here: https://sweatystartup.com/storage

Have some questions? Send me an email and I'll feature you in the next episode: nick@sweatystartup.com

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Modern Wisdom

Podcast Notes Key Takeaways * People live out all of the potential downsides in the mere reflection of what other people will think about them in the future, should they fail * Shame only exists in the shadows; identify when you have the hesitation to confront something and ask yourself why you may be experiencing that hesitation * The difference between successful people and the most successful people is that the most successful people say no to almost everything * Success comes down to doing the obvious thing for an extraordinary period of time without convincing yourself that you are smarter than you are * The first step to achieving a massive dream is conquering tiny impulses * Opportunities only look like opportunities in the rear-view mirror; today, they only seem like risk * Most of the pain that people experience is purely in their own minds * There is always someone who has had it worse and has done it better * Power follows the blame finger: you give power to wherever you point the blame to * Pain moves people far more effectively than pleasure does * We commonly sacrifice the thing we want for the thing that is supposed to get it * Three most common traits that hyper-successful people have: a superiority complex, insecurity, and impulse control * What is the thing that you can do longer than anyone else where to them it looks like work, and to you, feels like play? * Constantly ask yourself: “What are we optimizing for?” * Try to be directionally correct instead of trying to be absolutely correct

Read the full notes @ podcastnotes.org

Alex Hormozi is a founder, investor and an author.

Alex's Twitter has been one of my favourite sources of great insights over the last year. Today we get to go through some of my favourite lessons from him about life, human behaviour, psychology, business and resilience. This is really good.

Expect to learn how your ego is keeping you poor, why you never need to care about what anyone else thinks of you, why having a life that sucks is actually a blessing, whether most easy opportunities are just distractions, how to conquer your tiny impulses, why you are built to deal with things being hard, how to beat anyone who ever copies you and much more...

Sponsors:

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Extra Stuff:

Follow Alex on Twitter - https://twitter.com/AlexHormozi

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Get my free Reading List of 100 books to read before you die → https://chriswillx.com/books/

To support me on Patreon (thank you): https://www.patreon.com/modernwisdom

-

Get in touch.

Instagram: https://www.instagram.com/chriswillx

Twitter: https://www.twitter.com/chriswillx

YouTube: https://www.youtube.com/modernwisdompodcast

Email: https://chriswillx.com/contact/

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Pod of Jake

Podcast Notes Key Takeaways * OpenStore’s mission is to reinvent e-commerce to allow for the serendipitous discovery of products in a way that obviates the need to shop in the real world * Optimally, a fundraising round should directly de-risk a certain aspect of the business * People are more emotional about selling their business compared to selling their future cash flows * There is a fixed cost of pain when building a start-up; you might as well amortize the same pain across the biggest possible vision * Having success in the first vertical is so hard that most people lose the energy, enthusiasm, and time to conquer other verticals in the future * From day one of running a company, identify your goal and work backward from it * Automate the processes that can be automated to maximize scalability * Successful companies work in person and have a critical density of talent where everyone works in the same room * The art of company building is to find people whose talent is not yet appreciated by the rest of the world and who have incredible potential * A question every entrepreneur must consider: “Does your company have the best possible people working against the most important challenges?”

Read the full notes @ podcastnotes.org

Keith is the CEO & Co-Founder of OpenStore and a General Partner at Founders Fund. He is an experienced technology executive and entrepreneur, a prolific investor, and a self-described contrarian. Keith previously served as a General Partner at Khosla Ventures. Before that, he was COO at Square and served in influential roles at LinkedIn. He also co-founded Opendoor. Keith began his career in technology as a senior executive at PayPal. He has since invested early in many great companies including YouTube, Airbnb, Palantir, DoorDash, Stripe, Quora, Yammer, Affirm, Eventbrite, and many others. He also served as a Board Member from inception to IPO at Yelp and Xoom. Follow Keith on Twitter @rabois.

[0:00] - OpenStore's early momentum and fundraising strategy

[5:35] - How an decentralized department store could unlock eCommerce growth

[12:33] - Introducing OpenStore Drive and why it is great for Shopify store owners

[16:49] - OpenStore's horizontal approach and why Keith believes it is best

[18:41] - OpenStore’s business acquisition strategy and thoughtful process design

[24:09] - How learnings from OpenStore’s initial acquisitions have led to improvements

[28:56] - Why OpenStore’s business is resilient in various macroeconomic environments

[35:06] - Acquisition offers and accept rates as metrics and countermetrics at OpenStore

[38:45] - Introducing Gumdrop which matches long-tail influencers to long-tail SKUs

[41:40] - The advantages of aggregation that benefit OpenStore’s business model

[45:19] - Building a great company culture; finding & developing undiscovered talent

[51:11] - The most high-leverage activities Keith allocates time to as OpenStore's CEO

homeofjake.com

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Infinite Loops

Podcast Notes Key Takeaways * Check out Infinite Loops Podcast Episode Page & Show Notes

Read the full notes @ podcastnotes.org

This week, we’re delighted to welcome Ed Latimore back for his second Infinite Loops appearance.

Ed is a best-selling author, former professional heavyweight boxer, competitive chess player, Physics graduate, father, and husband. He joins us to discuss stoicism, progress & pain, demonstrating authenticity, being liked vs. being respected, and a whole lot more.

Important Links:

• Ed’s Twitter
• Ed’s website
• Ed’s Substack
• Ed’s first Infinite Loops appearance

Show Notes:

• New child; new house; new book
• How Ed’s new book has developed
• Humor and progress
• Understanding addiction
• Being liked vs being respected
• “Stoicism found me”
• Is progress possible without pain?
• “Humans are very bad at the future”
• Demonstrating authenticity
• Being cast as a father figure
• What’s next for Ed
• Ed’s three step process for self-improvement
• “I don't think any situation has ever gotten worse because someone has good manners.”

Books Mentioned:

• The Founders: The Story of PayPal and the Entrepreneurs who Shaped Silicon Valley; by Jimmy Soni
• The Art of Learning: An Inner Journey to Optimal Performance; by Josh Waitzkin
• Can't Hurt Me: Master Your Mind and Defy the Odds; by David Goggins
• The Subtle Art of Not Giving a F*ck: A Counterintuitive Approach to Living a Good Life; by Mark Manson

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HBR IdeaCast✓Claim

Podcast Notes Key Takeaways * Check Out HBR IdeaCast Episode Page & Show Notes

Read the full notes @ podcastnotes.org

How do you solve the world's toughest problems? Or find the next big thing in tech? Lots organizations fail to explore and take big bets on new ideas because they can't tolerate the mess of experimentation and the fear of failure. At X, Alphabet's dedicated innovation factory, they don't have that problem, and Astro Teller, Captain of Moonshots at X, can explain why. Undertaking projects on everything from rural communication to ocean health to machine learning, he and his teams operate with different creative mindsets and decision-making principles than many of us. He spoke with host Alison Beard at HBR at 100: Future of Business live virtual conference.

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Econtalk

Podcast Notes Key Takeaways * Learn how to learn from those you disagree with or even offend you; see if you can find the truth in what they believe * When there are two sides to an issue, consider where the third side might be * Don’t measure your life with someone else’s ruler; figure out what ruler you want to use and create your standards * Ignore what others may be thinking of you because they are not thinking of you * Do not ruin an apology with an excuse * Do not aim to be the best, aim to be the only * When trying to make a decision and presented with several choices, consider the value of uniqueness * Our views should be evidence-based and not based on the imaginary harms the technology potentially causes to the hypothetical third person * Kevin Kelly attaches a non-zero probability to the singularity, but it should not be something that disproportionately influences how we regulate and think about AI today * AI shows us that things we thought were special and unique to humans can be replicated * “This vision of superhuman intelligence is mythical, if not religious. It’s a belief.” – Kevin Kelly * The auto-complete replication processes that these AIs are doing today are not anywhere near consciousness or self-awareness

Read the full notes @ podcastnotes.org

Photographer, author, and visionary Kevin Kelly talks about his book Excellent Advice for Living with EconTalk's Russ Roberts. His advice includes how to have a deep conversation, why it's better to control time than money--and whether, in the end, we should give advice in the first place. Other topics of discussion include the right object of our aspirations, the reason for optimism when it comes to technology, and why Kelly is not worried about AI.

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Starting Greatness with Mike Maples

Podcast Notes Key Takeaways * Check out Starting Greatness Episode Page & Show Notes

Read the full notes @ podcastnotes.org

Startup founders dealt with uncertainty, stress and trauma in the wake of the run on Silicon Valley Bank, but the most important lessons from this crisis never showed up in social media. In this lesson of greatness, Mike Maples, Jr of FLOODGATE calls on the actions of a variety of founders who showed incredible courage and competence to showcase three crucial lessons for founders for how to deal with another potential crisis: Scenario planning, financial agility, and crisis communication.

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Artificial Intelligence Podcast

Podcast Notes Key Takeaways * We will look back on GPT-4 as we do the early computers: buggy, slow, room for improvement, but nonetheless a monumental achievement * Progress is a continuous exponential; very rarely is there “a single moment” where technology crosses the rubicon * OpenAI is building in public because they think it is important for the world to get access to this technology early and to shape the way it is going to be developed * Better alignment techniques lead to better capabilities, and vice versa * Ideally, the world comes together, discusses, and agrees on where it wants to draw the boundaries on the GPT system * It is possible that GPT-4 is the most complex software object that humanity has produced, and it will be trivial in a couple of decades * Maybe AGI is never achieved; maybe narrow AI just continues to make humans better * There is some chance of an AGI destroying humanity, and it is important to acknowledge that chance because if we do not discuss and treat it as potentially real, then we will not put enough effort into solving it * AGI could happen soon or far in the future; the takeoff speed from the initial AGI to more powerful successor systems could be slow or fast * It would be “crazy” to not be a little bit afraid of AGI * Sam worries about the entities creating AGIs that do have incentives to capture unlimited value * “I definitely grew up with Elon as a hero of mine. Despite him being a jerk on Twitter or whatever, I’m happy he exists in the world. But I wish he would do more to look at the hard work we’re doing to get this stuff right.” – Sam Altman * These AI systems will make a lot of jobs go away, as is true for every technological revolution, and will also create many new types of jobs that we cannot yet imagine * Over the next several decades, the two dominant changes will be the reduced cost of intelligence and energy * “Listening to advice from other people should be approached with great caution.” – Sam Altman

Read the full notes @ podcastnotes.org

Sam Altman is the CEO of OpenAI, the company behind GPT-4, ChatGPT, DALL-E, Codex, and many other state-of-the-art AI technologies. Please support this podcast by checking out our sponsors:
- NetSuite: http://netsuite.com/lex to get free product tour
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EPISODE LINKS:
Sam's Twitter: https://twitter.com/sama
OpenAI's Twitter: https://twitter.com/OpenAI
OpenAI's Website: https://openai.com
GPT-4 Website: https://openai.com/research/gpt-4

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- Medium: https://medium.com/@lexfridman

OUTLINE:
Here's the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time.
(00:00) - Introduction
(08:41) - GPT-4
(20:06) - Political bias
(27:07) - AI safety
(47:47) - Neural network size
(51:40) - AGI
(1:13:09) - Fear
(1:15:18) - Competition
(1:17:38) - From non-profit to capped-profit
(1:20:58) - Power
(1:26:11) - Elon Musk
(1:34:37) - Political pressure
(1:52:51) - Truth and misinformation
(2:05:13) - Microsoft
(2:09:13) - SVB bank collapse
(2:14:04) - Anthropomorphism
(2:18:07) - Future applications
(2:21:59) - Advice for young people
(2:24:37) - Meaning of life

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Nudge - Marketing Science Simplified✓Claim

Podcast Notes Key Takeaways * Check Out the Nudge Podcast Episode Page & Show Notes

Read the full notes @ podcastnotes.org

Ever worried about someone stealing your phone at the beach? Well, there’s one thing you can do to make your phone 4x safer. It involves using a psychology-inspired principle to change behaviour. On this show, you’ll learn what it is, and why it’s important to marketers. Today, Nancy Harhut and I will cover five more marketing principles. Plus, I’ll share my real-world experiments to reveal which principles work, and which don’t.

Try HubSpot for free: https://hubspot.sjv.io/jWq4k6
Consistency experiment: https://bit.ly/3sABZTU
Input bias experiment: https://bit.ly/3sEPFgC
Framing experiment: https://bit.ly/3TMKgA2
Information gap experiment: https://bit.ly/3DiGasA
Authority bias experiment: https://bit.ly/3sF0G1A
Nancy’s book: https://amzn.to/3DZTl23
Sign up for the Nudge Newsletter: https://www.nudgepodcast.com/mailing-list
Take my marketing course: https://science-of-marketing.teachable.com/

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Knowledge Project

Podcast Notes Key Takeaways * Check out The Knowledge Project Episode Page & Show Notes

Read the full notes @ podcastnotes.org

Visionary technology and business leader Nathan Myhrvold just might be the most interesting person in the world, and in this episode of The Knowledge Project he dives deep into some of the most pressing questions facing our world today. Where will technology take us in the future? Should we trust artificial intelligence? Where have we gone wrong in protecting our planet? How do we reverse the effects of what we’ve already done? Myhrvold answers all these and much, much more. Myhrvold is a prominent scientist, technologist, inventor, author, and food photographer, and the former Chief Technology Officer at Microsoft. He’s also the co-founder of patent portfolio developer Intellectual Ventures, the principal author of the culinary book Modernist Cuisine: The Art and Science of Cooking, part of a team that won first place at the World Barbecue Championships, and he completed his postdoctoral fellowship under legendary theoretical physicist Stephen Hawking. --

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My First Million

Podcast Notes Key Takeaways * There are four ways to frame a meeting with a company leader: + I am doing this, FYI + I am doing this, but I need your approval + I am trying to decide between A, B, or C. Can you help me think that through? + Remember that thing we agreed on? Here is what happened. * Company updates or memos should address “What, Why, and So What?” * Fierce nerds are all in on the thing they are pursuing; they do not have a social thing to fall back on, and lack the emotional maturity to separate themselves from the competition * Competition is deeply personal to fierce nerds; they are fully obsessed * Being well-read allows you to connect dots between seemingly unrelated things and create new things * Get closer to the truth by challenging each assumption in the argument * A leader must surround themself with people who are willing to tell them the uncomfortable truth

Read the full notes @ podcastnotes.org

In a special episode of My First Million, Shaan (@ShaanVP) talks about the nine things he learned from Emmett Shear - CEO of Twitch - who resigned today.
Want to see more MFM? Subscribe to the MFM YouTube channel here.
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Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

Additional episodes you might enjoy:
• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits
• #209 Gary Vaynerchuk - Why NFTS Are the Future
• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto
* #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett
• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates
• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More
• How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

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What Got You There with Sean DeLaney

Podcast Notes Key Takeaways * Understand the difference between work and play: work is anything that is energy-depleting, while play is energy-regenerating * In life, there is a big difference between what you are good at and how you are wired * If you do not love what you do, you will probably not stick with it even if you excel at it * No amount of pleasure from lifestyle inflation can offset a lack of purpose * What minimalism is to your things, slow living is to your time * Concepts of intentional living include voluntary simplicity, downshifting, minimalism, digital minimalism, decluttering, financial independence, and lifestyle design * Epiphanies happen when you read something that you intuitively knew, but aren’t unable to put into words until then * Always consider the second and third-order effects of an action, and try to make that action positively reinforce other goals that you have * As you psychologically develop, how you relate to what you know changes * Quality is a byproduct of quantity; you will get better at something the more that you do it * A synthesizing mind is a mind with the capacity to take in a lot of information, reflect on it, and then organize it in a way that is useful to you that also proves useful to others * When you reflect on a situation or period of time, oftentimes you realize things that you did not realize when you were in the midst of it * Having awareness of your thoughts and understanding that you are not your thoughts changes your relationship with them

Read the full notes @ podcastnotes.org

Kyle Kowalski is the Funder of Sloww.co (one of my favorite websites for synthesized knowledge + wisdom!)

Kyle is an ex-marketing executive turned corporate dropout and solopreneur who found and created his life purpose after an existential crisis. In one sentence, his purpose is synthesizing lifelong learning that catalyzes human development (LFG!!!). In a nutshell, Kyle is learning why and how to live and publicly sharing what he learns along the way at Sloww.co. Thinking is his passion—but he's not a professor, philosopher, psychologist, sociologist, anthropologist, scientist, or guru. He's an interdisciplinary dot connector across all those humans and many more. Kyle does all the homework—researching, curating, reading, note-taking, summarizing, synthesizing, writing, creating, and sharing. You get all the highlights—so you spend less time on all those things and more time learning, practicing, and mastering. About Sloww: Sloww shares the art of living with students of life. Sloww currently has a Premium membership with 1,000+ global members, a weekly email newsletter with 10,000+ subscribers, a social media following of 30,000+, and a website with 60,000+ monthly visitors (5,000,000+ lifetime pageviews). Kyle's 10 Most Life Changing Ideas Ikigai 2.0 Guidebook Watch on YouTube JOIN ME for 2 LIVE VIRTUAL EVENTS!

Live Podcast with David Senra, Host of Founders Podcast on March 15th at 2pm ET!

Register HERE, spots are limited and even if you can’t attend live if you register you’ll receive a video of the interview & Q&A!

“10 Mindsets to Radically Transform Your Life” Webinar on March 23rd at 1pm ET!

Register HERE to learn the 10 most impactful mindsets I’ve uncovered working with and learning from the world’s most successful people!

I’ve studied hundreds of the world’s must successful people and compiled:13 Insights from the World’s Most Successful People – Click Here to get access

https://youunleashedcourse.com/

You Unleashed is an online personal development course created by Sean DeLaney after spending years working with and interviewing high achievers.The online course that helps you ‘Unleash your potential’!

You Unleashed teaches you the MINDSETS, ROUTINES and BEHAVIORS you need to unleash your potential and discover what you’re capable of.

You know you’re capable of more and want to bring out that untapped potential inside of you.

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Learning Leader Show

Podcast Notes Key Takeaways * Check Out the Learning Leader Show Episode Page & Show Notes

Read the full notes @ podcastnotes.org

Text Hawk to 66866 to become part of "Mindful Monday." Join 10's of thousands of your fellow learning leaders and receive a carefully curated email from me each Monday morning to help you start your week off right...

Full show notes at www.LearningLeader.com

Twitter/IG: @RyanHawk12 https://twitter.com/RyanHawk12

David Lieberman, Ph.D., is a renowned psychotherapist and the author of eleven books, including the New York Times bestsellers Get Anyone to Do Anything and Never Be Lied to Again. He has trained personnel in the U.S.

• Ralph Waldo Emerson wrote: “People do not seem to realize that their opinion of the world is also a confession of character.” A person looks at the world as a reflection of themselves. If they see the world as corrupt, they feel on some level that they are corrupt. If they see honest working people, that is frequently how they see themselves.
• “How someone treats you is a reflection of their own emotional health and says everything about them and nothing about you.”
• Speaking negatively behind someone’s back orients you to look for the negative in others. Wouldn’t we rather spend time with people who seek the greatness in others?
• “The less emotionally healthy a person is, the more they denigrate the world to accommodate their own insecurities.”
• Knowledge is not power. Knowledge is a tool. How it is wielded makes all of the difference. Real power is the responsible application of knowledge.
• Word usage: Let’s take the example of giving a compliment. A woman who believes what she’s saying is more likely to use a personal pronoun. For instance, “I really liked your presentation.” However, a person offering insincere flattery might say, “Nice presentation,” or “Looks like you did a lot of research.” In the second case, she has removed herself from the equation.
• The Art of reading the bluff - When a person is bluffing, they are managing others’ impressions to convey the “right” effect and serve a personal agenda. Conversely, the authentic person is not interested in how they come across because they are unconcerned with their image.
  • “People who bluff habitually overcompensate, so you can uncover a bluff instantly by noticing how someone tries to appear.”
• Relationships: Whenever David speaks to couples, he's always on the lookout when the word we is conspicuously absent from the conversation.
• We are attracted to positivity. It reflects humility.
• "Humility connects you to the ownership of mistakes."
  • Humility can recognize a weakness in self.
• The difference between a sociopath and a psychopath:
  • A sociopath has no conscious. They are very dangerous.
  • A psychopath's wiring is off. They were born that way.
• Life and career advice: Find a passion that contributes to the world.
  • Don't get too caught up in image or ego.
• "You can be anything. you're good at. as long as they're hiring." -- Chris Rock

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Invest Like the Best

Podcast Notes Key Takeaways * Many of the high-margin software businesses have no impact on society, and sometimes can even have a negative impact on society * Founders in the dynamism category are creating teams that are mission-oriented and interested in more than just making money; they want to build techno-optimist solutions for strategically important problems * It is important for society’s best players to choose good quests * It is best to lean into your passions and overinvest in them * We must encourage people to be “spikey” instead of only encouraging them to be “well-rounded” * In his early days at Founder Fund, Trae was looking to invest in a 21st-century reboot of Lockheed Martin; it did not exist, so he started it * If a company is going to work, each team member must leverage their own superpower to achieve the company’s audacious goal * The adversary must know that Anduril’s product will prevent their offensive from happening and that the defensive cost to prevent it is far lower than the offensive cost to launch it * “The DoD has done a really good job at creating theater around their innovation efforts.” – Trae Stephens * The big defense primes are effectively government agencies that respond to the incentives presented to them * Mimetic desire is the primary motivation for conflict in society because we are all going after the scarce resources that other people want * Working and learning about an industry in a supporting role is 100x better than graduate school * The first question that Trae Stephens asks in every pitch meeting is: “What is the origin story of this business?” * Ask yourself what you are uniquely suited to do to contribute to a greater good * We lose the wonders of virtue when we rely on ourselves as the source of all truth

Read the full notes @ podcastnotes.org

My guest this week is Trae Stephens. Trae is a partner at Founders Fund and co-founder and Executive Chairman of Anduril. Trae’s philosophy can be boiled down to finding good quests, which has led him to investing in businesses that work closely with the government on societally important issues. Clearly, that extends to co-founding Anduril and I would highly recommend listening to my Business Breakdowns episode on Anduril if you haven’t already. In this conversation, we discuss the importance of lobbyists, why the high-tech defense firms of the past became stale, and how he hunts for disagreeableness in founders. Please enjoy my conversation with Trae Stephens.

For the full show notes, transcript, and links to mentioned content, check out the episode page here.

Listen to Founders Podcast

Founders Episode 136 - Estee Lauder

Founders Episode 288 - Ralph Lauren

This episode is brought to you by Tegus, the modern research platform for leading investors. I’m a longtime user and advocate of Tegus, a company that I’ve been so consistently impressed with that last fall my firm, Positive Sum, invested $20M to support Tegus’ mission to expand its product ecosystem. Whether it’s quantitative analysis, company disclosures, management presentations, earnings calls - Tegus has tools for every step of your investment research. They even have over 4000 fully driveable financial models. Tegus’ maniacal focus on quality, as well as its depth, breadth and recency of content makes it the one-stop, end-to-end research platform for investors. Move faster, gather deep research to build conviction and surface high-quality, alpha-driving insights to find your differentiated edge with Tegus. As a listener, you can take the Tegus platform for a free test drive by visiting tegus.co/patrick.

Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.

Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.

Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.

Follow us on Twitter: @patrick_oshag | @JoinColossus

Show Notes

[00:03:17] - [First question] - Why Trae thinks most high-margin businesses are bad for society

[00:04:28] - What would he change to impact energy technology most if he were in charge

[00:06:18] - His investing focus on dynamism and mission-driven tech companies

[00:09:42] - Analyzing why relatively few people strive to make society-level advancements

[00:11:35] - What he’s done as a parent to enable his kids to develop passions

[00:12:41] - The most noteworthy adventures in his career

[00:14:41] - Founding Anduril and what it taught him about the tech industry

[00:18:40] - The cutting-edge of defense technologies today

[00:21:29] - What Shyam Sankar of Palantir taught him about defense tech

[00:23:34] - Why some of the biggest defense tech companies have stopped innovating

[00:28:29] - What he and Anduril have learned about sales and scaling in the public sector

[00:32:12] - Where lobbyists and decision makers play in to defense tech business models

[00:35:22] - His take on Peter Thiel’s notion that competition should be avoided

[00:38:24] - The importance of being psychologically disagreeable when building a start-up

[00:39:54] - The origin story that stands out the most from companies he has interviewed

[00:41:12] - How he developed an investor mindset on his unorthodox path to the venture world

[00:43:57] - What he has learned from playing supporting roles and aligning with great leaders

[00:46:11] - Important but uncommon lessons about entrepreneurship

[00:48:21] - Venture investing lessons he’s learned from Lauren Gross

[00:50:00] - His first VR project and aspirations for the future of VR

[00:54:50] - The role of religion and spirituality in his business philosophies

[00:59:13] - Why he tries to capitalize on morality as opposed to sin

[01:03:57] - The kindest thing anyone has ever done for him

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A16z Podcast

Podcast Notes Key Takeaways * Check Out the a16z Podcast Episode Page & Show Notes

Read the full notes @ podcastnotes.org

With every new technology, some jobs are lost while others are gained. People often focus on the former, but in this episode we chose to highlight the latter – a highly creative role that emerges alongside AI: the prompt engineer.

Until AI can close the loop of its own, each tool still requires a set of prompts. Just like a composer feeds an instrument the notes to play, a prompt engineer feeds an AI a map of what to produce. And if we know anything from music it’s that composing great music takes great skill!

In this episode we explore the emerging importance of prompting with Guy Parsons, the early learnings of how to do it effectively, and where this field might be going.

Will the prompt engineer be more like the highly sought after DevOps engineer, or a proficiency like Excel that you find on every resume? Listen in to hear Guy’s take.

Interested in the prompt competition? Email us at podpitches@a16z.com.

Resources:

DALL-E 2 Prompt Book: https://dallery.gallery/the-dalle-2-prompt-book/

Find Guy on Twitter: https://twitter.com/GuyP

Guy’s combining image experiment: https://twitter.com/GuyP/status/1612880405207580672

Guy’s amorphous prompt experiment: https://twitter.com/GuyP/status/1608475973300948993

Guy’s space duck: https://twitter.com/GuyP/status/1601342688225525761

Prompt base: https://promptbase.com/

Lexica: https://lexica.art/

Topics Covered:

0:00 - Introduction

01:49 - DALL-E 2 Prompt Book

05:29 - Parallel skills

06:51 - 80/20 prompting

10:16 - New ways of prompting

13:44 - Pulling the AI slot machine

18:09 - Comparing models

21:04 - Requested features

26:34 - Learning with AI

27:58 - Practical use cases

32:08 - A top 1% prompt engineer

36:17 - The most popular images

Stay Updated:

Find us on Twitter: https://twitter.com/a16z

Find us on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://twitter.com/stephsmithio

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. For more details please see a16z.com/disclosures.

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My First Million

Podcast Notes Key Takeaways * You might have to go to some pretty dark places mentally to achieve great things physically * It is very hard to beat the guy who wants to die to win * “I don’t have anything that anyone listening to this show doesn’t have. I promise you.” – Ken Rideout * Ken once made $262,000 in a single day working on Wall Street * He was a functional addict for 10 years while working on Wall Street, and eventually got sober when he started having children * Of all the things that he has achieved, he is most proud of being sober * Ken Rideout used endurance sports to deal with his addiction, and through endurance sports, he discovered his ability to suffer through adversity and the pain of quitting * The only way to deal with adversity is to go through it * The coward and the hero feel the same exact thing; how they behave is where they differ * You find out who you really are when you experience setbacks * Do the little extra things that you know your competition is not doing * You can become the best in the world at something if you do it more than anyone else and devote yourself to it more than anyone else * “I try to be as humble as I can. I know that there are a lot of things that I’m not good at, but suffering is one thing that I know how to do.” – Ken Rideout * Money can alleviate stress, but it can also add stressors that you didn’t even know existed * Ken’s level of activity may make his life a little shorter, but it increases his quality of life to the degree that it is worth it to him * Find something in your life that you are passionate about and that you genuinely enjoy * The harder you work, the luckier you will get

Read the full notes @ podcastnotes.org

Episode 427: Sam Parr (@TheSamParr) and Shaan Puri (@ShaanVP) speak to Ken Rideout (@KenRideout_), one of the world's best masters runners, successful businessmen and entrepreneur. Ken talks about how he overcame addiction, built a lucrative career, forged mental and physical toughness, and where that's going to take him in the years to come.
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Show Notes:
(00:23) - Why Ken is blowing up
(12:25) - His finance background
(23:45) - Ken's Struggles with Addiction
(25:40) - How he got into running/media
(31:25) - Who are the toughest people you have met?
(38:20) - How to deal with adversity
(41:50) - Story of Ken talking smack to Lance Armstrong
(44:30) - How does he make money?
(53:35) - Does this level of activity increase longevity?

Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

Additional episodes you might enjoy:
• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits
• #209 Gary Vaynerchuk - Why NFTS Are the Future
• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto
* #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett
• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates
• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More
• How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

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Aarthi and Sriram's Good Time Show✓Claim

Podcast Notes Key Takeaways * The recent breakthroughs with ChatGPT break the world into two groups: those who can understand exponential growth, and those that sit around and deny it * AI hallucinations are evidence that we have apparently solved the problem of computer creativity * The real breakthroughs are going to happen when entrepreneurs discard all current assumptions and purely start from scratch * “This may be the single biggest financial explosion in the history of the industry.” – Marc Andreessen * “It may only be the case that new companies can actually do anything interesting in AI.” – Marc Andreessen * Much of the current concern over AI is not about the Skynet doomsday scenario, but about how AI will abide by approved woke-speech * AI is replacing jobs in the opposite order in which people expected it to * We are in the midst of another high-octane Luddism fallacy where people panic and believe new technology is going to replace all the jobs * People always underestimate the degree to which new technology creates new jobs * Virtually every white-collar job that exists today is the result of technological advancement that occurred in the last 300 years or even 50 years * “Our biggest problem for the next decade is not going to be AI having too much effect, it’s going to be AI having too little effect.” – Marc Andreessen * We must accept that the most amazing technological breakthrough of all time – replicating human consciousness – is just going to happen accidentally * Questioning AI sentience reveals more about human values and how humans perceive the world than they reveal about the technical components of a machine * AI science fiction is largely based on the assumption that humans and machines will inevitably go to war with one another, but people are experiencing the exact opposite reaction when interacting with ChatGPT

Read the full notes @ podcastnotes.org

In this episode, the gang gets back together! Marc Andreessen and Steven Sinofsky are back to talk about all things AI. We cover the rise of ChatGPT, Bing's AI powered chat Sydney, AI ethics, sentience, whether AI will take over jobs, the economic impact, AI startups vs tech incumbents, and whether it is time for AI to become sentient. This was an incredibly fun episode! Marc Andreessen is an American entrepreneur, venture capital investor, and software engineer. He is the co-author of Mosaic, the first widely used web browser; co-founder of Netscape; and co-founder and general partner of Silicon Valley venture capital firm Andreessen Horowitz. Steven Jay Sinofsky is a former president of the Windows Division at Microsoft. He was responsible for the development and marketing of Windows, Internet Explorer, and online services such as Outlook.com and SkyDrive.

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Knowledge Project

Podcast Notes Key Takeaways * Check out the Knowledge Project Podcast Episode Page & Show Notes

Read the full notes @ podcastnotes.org

In the third installment in a series of episodes, The Knowledge Project curates essential segments from five guests revolving around one theme: leadership. This episode helps put a unique definition on leadership and examines whether or not good leaders are context-dependent, the differences between a great leader and an average leader, how great leaders should balance feedback, the difference between being right and doing right, a playbook for managing teams, and the importance of radical candor.

The guests on this episode are author Jim Collins (Episode 61, 110), author and leadership expert Jennifer Garvey Berger (Episode 43), co-founder of the Admired Leadership Institute Randall Stutman (Episode 96), the President and COO of Athletic Greens Kat Cole (Episode 117), the former CEO of Ford Alan Mulally (Episode 151), and co-founder of the Conscious Leadership Group Diana Chapman (Episode 130). --

Want even more? Members get early access, hand-edited transcripts, member-only episodes, and so much more. Learn more here: https://fs.blog/membership/

Every Sunday our Brain Food newsletter shares timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/

Follow Shane on Twitter at: https://twitter.com/ShaneAParrish

Our Sponsors:

MetaLab: Helping the world’s top companies design, build, and ship amazing products and services. https://www.metalab.com

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Moonshots and Mindsets with Peter Diamandis✓Claim

Podcast Notes Key Takeaways * Building something meaningful will be a decade-long process; you might as well build something that is going to meaningfully make people’s lives better * The power law of returns describes how the minority of companies you invest in will deliver the majority of your returns * If you are a technical founder, the number one mistake you can make when approaching VCs is to only talk about the technology and not the customer * Do not create technologies and then look for problems that they can solve; identify problems and create technologies to solve them * Understand that many of the letters and names in venture capital are made up; do not get too stuck on any of the letters or names * Understand what matters to the audience that you are presenting to * It is better to make micro-pivots that add up to a larger pivot in aggregate than having to make a single massive pivot at once * The desire to grow personally and contribute to the world will endlessly fuel a person * Successful founders are unwilling to accept “no” for their long-term mission but are willing to make micro-adjustments along the way when presented with new information * Great entrepreneurs fail constantly, and their failures become learnings and fuel rather than fatal injuries * Equating failures with growth is a mindset that breeds long-term success * Consider the scope of the problem you are trying to solve if you are a first-time founder + Consider attacking a smaller niche within an area that interests you if you are a first-time founder

Read the full notes @ podcastnotes.org

In this episode, Dakin and Peter discuss tips for new entrepreneurs, how to build a successful company and the power of venture capital for the economy.

You will learn about:

• 04:37 | The story of Prime Movers Lab
• 22:25 | The 'do's & don'ts' for new entrepreneurs.
• 35:47 | Ambitious Vs. Conservative: creating balance for your company.

Dakin Sloss is a venture capitalist, founder, entrepreneur, and philanthropist. He is the founder and General Partner of Prime Movers Lab, a VC startup that’s become the world’s leading partner in breakthrough scientific startups.

Learn more about Prime Movers Lab.

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Founders✓Claim

Podcast Notes Key Takeaways * Young Bill Gates was like Genghis Khan in a Mr. Rogers costume * Everything he did, he did to the max * Gates’ first interaction with a computer was at Lakeside School, a private school in Seattle where he also met Paul Allen, with whom he co-founded Microsoft with * Bill Gates became obsessed with computers at a young age to the point where his parents banned his usage of them * “You want to maneuver yourself into doing something in which you have an intense interest.” – Charlie Munger * Gates knew that he wanted to be wealthy from an early age; he spoke about his future success and wealth as if it were predetermined * Gates was one of the best math students at Harvard, but he was not the best, which to him, meant he could never be a mathematician * Bill Gates dropped out of Harvard after much convincing from Paul Allen to start what eventually became Microsoft * Gates was financially conservative: Microsoft got from founding to IPO without having to take money from venture capital * Despite Gates being a multi-billionaire and Microsoft being the undeniable leader of its category, Bill Gates still wanted to destroy the competition * Gates knew where he was weak and was willing to listen to others * Apple was just Steve Jobs with 10,000 lives; the founder’s personality is going to be embedded into the company, which was also true for Bill Gates and Jeff Bezos with their respective companies * Bill Gates was intolerant of distractions; he believed “focus” was the key element to success

Read the full notes @ podcastnotes.org

What I learned from rereading Hard Drive: Bill Gates and the Making of the Microsoft Empire by James Wallace and Jim Erickson.

This episode is brought to you by: Tiny: Tiny is the easiest way to sell your business. Quick and straightforward exits for Founders.

Follow one of my favorite podcasts Invest Like The Best and listen to episode 292 The Business of Gaming with Mitch Lasky and 293 David Senra Passion and Pain !

[4:00] Gates read the encyclopedia from beginning to end when he was only seven or eight years old.

[4:00] Gates had an obsessive personality and a compulsive need to be the best.

[5:00] Everything Bill did, he did to the max. What he did always went well, well beyond everyone else.

[6:00] You want to maneuver yourself into doing something in which you have an intense interest. — Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger.

[7:00] Gates devoured everything he could get his hands on concerning computers and how to communicate with them, often teaching himself as he went.

[9:00] A young man with no money and tons of enthusiasm. — The Dream of Solomeo: My Life and the Idea of Humanistic Capitalism by Brunello Cucinelli. (Founders #289)

[10:00] He consumed biographies to understand how the great figures of history thought.

[11:00] The idea that some people were super successful was interesting. What did they know? What did they do? What drove those kinds of successes?

[12:00] Idea Man: A Memoir by the Cofounder of Microsoft by Paul Allen. (Founders #44)

[13:00] “I’m going to make my first million by the time I'm 25.” It was not said as a boast, or even a prediction. He talked about the future as if his success was predestined.

[15:00] Gates and Allen were convinced the computer industry was about to reach critical mass, and when it exploded it would usher in a technological revolution of astounding magnitude. They were on the threshold of one of those moments when history held its breath... and jumped, as it had done with the development of the car and the airplane. They could either lead the revolution or be swept along by it.

[17:00] Bill had a monomaniacal quality. He would focus on something and really stick with it. He had a determination to master whatever it was he was doing. Bill was deciding where he was going to put his energy and to hell with what anyone else thought.

[18:00] Don’t do anything that someone else can do. — Edwin Land

[21:00] You've got to remember that in those days, the idea that you could own a computer, your own computer, was about as wild as the idea today of owning your own nuclear submarine. It was beyond comprehension.

[23:00] There would be no unnecessary overhead or extravagant spending habits with Microsoft.

[25:00] “Pertec kept telling me I was being unreasonable and they could deal with this guy [Gates]. It was like Roosevelt telling Churchill that he could deal with Stalin.

[27:00] Four years in and Microsoft had only 11 employees.

[28:00] Gates sustained Microsoft through tireless salesmanship. For several years he alone made the cold calls and haggled, cajoled, browbeat, and harangued the hardware makers of the emerging personal computer industry, convincing them to buy Microsoft's services and products. He was the best kind of salesman there is: he knew the product, and he believed in it. Moreover, he approached every client with the zealotry of a true believer.

[29:00] When we got up to 30 employees, it was still just me, a secretary, and 28 programmers. I wrote all the checks, answered the mail, took the phone calls.

[31:00] This might be Bill’s most important decision ever: IBM had talked to Gates about a fixed price for an unlimited number of copies of the software Microsoft licensed to IBM. The longer Gates thought about this proposal the more he became convinced it was bad business. Gates had decided to insist on a royalty arrangement with IBM.

[34:00] You have to be uncompromised in your level of commitment to whatever you are doing, or it can disappear as fast as it appeared.

Look around, just about any person or entity achieving at a high level has the same focus. The morning after Tiger Woods rallied to beat Phil Mickelson at the Ford Championship in 2005, he was in the gym by 6:30 to work out. No lights. No cameras. No glitz or glamour. Uncompromised.

— Driven From Within by Michael Jordan and Mark Vancil. (Founders #213)

[36:00] Overdrive: Bill Gates and the Race to Control Cyberspace by James Wallace. (Founders #174)

[42:00] You can drive great people by making the speed of decision making really slow. Why would great people stay in an organization where they can't get things done? They look around after a while, and they're, like, "Look, I love the mission, but I can't get my job done because our speed of decision making is too slow."

—Invent and Wander: The Collected Writings of Jeff Bezos (Founders #155)

[43:00] Alexander the Great: The Brief Life and Towering Exploits of History's Greatest Conqueror--As Told By His Original Biographers by Arrian, Plutarch, and Quintus Curtius Rufus. (Founders #232)

[44:00] Gates was intolerant of distractions.

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The Network State Podcast✓Claim

Podcast Notes Key Takeaways * Check out the Network State Podcast Episode Page

Read the full notes @ podcastnotes.org

Tobi Lütke (Shopify Founder & CEO), Kaz Nejatian (Shopify COO), and Balaji review how Shopify rose from tiny startup to $180B+ global economy, with an annual GMV on par with the GDP of New Zealand. In the process they touch on Hayek, the Hanseatic League, merchant cavemen, the history of the corporation, and the optimal level of platform decentralization.

OUTLINE
00:00 - Introduction
02:39 - Shopify has the scale of a small country
08:49 - Lifestyle businesses take up your whole life
20:52 - SMBs can be harder than startups
27:13 - Shopify could invest in its merchants
32:23 - Shopify's economy is on par with Greece or New Zealand
38:40 - Money, time, risk, attention
39:55 - Is all retail a form of arbitrage?
47:14 - The history of the corporation informs the development of smart contracts
56:57 - Founders start as lead engineer, end up as chief psychiatrist
1:00:27 - Shopify is not just technology but community
1:06:26 - The concept of computational context
1:14:34 - Shopify as a dashboard for the global economy
1:22:48 - Atoms are so much more complex than bits
1:28:41 - Balancing centralized vs decentralized at Shopify
1:43:26 - If they could start a new country, what would Tobi and Kaz build?
2:03:28 - Kaz on working at Shopify
2:04:31 - Tobi's parting thoughts

LINKS
1) 100 true fans: kk.org/thetechnium/1000-true-fans/
2) Gobekli Tepe: smithsonianmag.com/history/gobekli-tepe-the-worlds-first-temple-83613665
3) Shopify active merchant: github.com/activemerchant/active_merchant
4) Fall of Civilizations: youtube.com/@FallofCivilizations
5) Founding vs Inheriting: thenetworkstate.com/founding-vs-inheriting
6) Shopify careers: shopify.com/careers

VIDEO
YouTube: youtube.com/@thenetworkstatepodcast

CREDITS
Editing: twitter.com/DholakiaJaydeep
Images: twitter.com/DholakiaJaydeep

SOCIAL
twitter.com/tobi
twitter.com/CanadaKaz
twitter.com/balajis
thenetworkstate.com

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Y Combinator

Podcast Notes Key Takeaways * Almost all the advice that’s written online about hiring is written for post product-market fit companies + However, most startups are pre-product market fit + They are reading advice for a stage that they are not at now, but odds are they will never be at * Michael Seibel believes that the number of employees is one of those fun stats that second-time founders react to differently than the first time * Founders have a unique skill set – as a founder, you know the problem better than anyone else, and you know how your product works better than anyone * So much of the startup is just reacting when things are horribly broken * Generally, you should start hiring only if it’s a post-product market fit scenario and things are going well and accelerating * Over-hiring leads to a high burn rate which leads to a lower financial “runway” * If you are post product-market fit, ignore everything said and hire away + If you are pre-product, double down on everything Harj, Michael, and Brad talked about + If you don’t know if you are post or pre, don’t hire people to figure that out (lol)

Read the full notes @ podcastnotes.org

Step inside the Group Partner Lounge to hear Y Combinator Group Partners Harj Taggar, Michael Seibel and Brad Flora discuss the many different mistakes founders make when they approach hiring for their startup and how to grow your team the correct way.

Apply to Y Combinator: https://www.ycombinator.com/apply/

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A16z Podcast

Podcast Notes Key Takeaways * Social platforms will become a natural place for product discovery as platforms will ease the friction between inspiration, purchase intent, and completed purchases * China is mobile-only, compared to the U.S. which is mobile-first, so China tends to iterate on mobile features much faster than the U.S. * In 2019, two-thirds of Americans said they had a favorite local place they went to regularly. Four years later, that two-thirds has decreased to one-half. * Gaming bots have historically been scripted procedures but are increasingly becoming network-based AIs that are more convincing to humans * Multiplayer games of the future may consist of perfectly catered AIs specifically designed for each gamer * Brands will lean into the platforms that enable interoperability across platforms * Of the group of digital natives, Gen Z, and Gen Alpha, 2 in 5 already believe that self-expression via fashion is more important in the digital world than the physical * Generative AI will advance beyond “text to image” to more complex workflows, such as “text to SQL queries” or, eventually, “text to excel modeling” and more * Much of the truly useful data is actually proprietary enterprise data and is not widely available on the internet for AIs to train on * “If your company does not have an AI strategy, it should really be thinking about one yesterday.” – Sarah Wang * Fintech companies will need to strike a delicate balance between building with new technology rails while maintaining customer trust * Regardless of the platform shift, distribution is always key

Read the full notes @ podcastnotes.org

At the end of 2022, our team at a16z asked dozens of partners across the firm to spotlight one big idea that startups in their fields could tackle in 2023.

Emerging from this exercise came 40+ builder-worthy pursuits for the year, ranging from entertainment franchise games to precision delivery of medicine to small modular reactors, and of course loads of AI applications.

In our 2-part series, we’ll be covering 12 of these big ideas with the partners that shared them.

Here in part 1, we’ll cover Consumer, Games, and Enterprise, with a little Fintech sprinkled in. Listen in as we chat with Connie Chan, Anne Lee Skates, Jack Soslow, Doug McCracken, Sarah Wang, and Sumeet Singh.

And look out for part 2 dropping soon, covering Fintech, American Dynamism, and Bio & Health!

For the full list of 40+ ideas, check out the full article: https://a16z.com/2022/12/15/big-ideas-in-tech-2023/

Topics Covered:

• (1:30) Breakthroughs in Buying (Finally!) - Connie Chan
• (16:40) Unlocking the “Third Place” - Anne Lee Skates
• (30:14) Games as a Neverending Turing Test - Jack Soslow
• (46:09) The Metaverse Goes Fashion Forward - Doug McCracken
• (59:24) Generative AI Advances Beyond “Text to Image” to Complex Workflows - Sarah Wang
• (1:12:23) Embracing Large Language Models and Maintaining Trust - Sumeet Singh

Stay Updated:

Find us on Twitter: https://twitter.com/a16z

Find us on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://twitter.com/stephsmithio

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. For more details please see a16z.com/disclosures.

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Infinite Loops

Podcast Notes Key Takeaways * We are entering an exponential trajectory of technological progress and our antiquated minds cannot possibly keep up unless we change the stories, programming, and hardware * Technological progress is like a snowball rolling down a hill, picking up more matter and evolving as it goes * Today, we are operating on the programming that worked really well in caves and savannas but does not work quite as well in the massive groups that we find ourselves in now * Stories can help us overcome the deeply-rooted social wiring that does not always serve us * Negative storytelling appeals to our base emotion of fear, especially novel fear regarding things that new * The heretics working on the leading edge of technology must reframe their innovation’s impact with better stories * We may fall victim to a self-fulfilling prophecy of a tech dystopia if we do not get the stories right * Humans evolved during times of zero-sum conflict, so all of the stories we told around the campfire were zero-sum conflict-based stories * Upgrading the human operating system will not solve all the world’s problems, but it will create new and better problems that can also be solved * Humans control what pumps the gas or slams on the break for the AI, which are control measures that we barely have for ourselves * Our current system is optimized for growing GDP, not human flourishing * Reduce the flow of negative information into your mind and increase the volume of positive information in the world * Try to be optimistic about the future, and see yourself as a human on earth instead of being a member of a specific tribe

Read the full notes @ podcastnotes.org

Author, CEO of VUDU Marketing and digital nomad Sam McRoberts returns for his second appearance on Infinite Loops. This week, Sam and Jim discuss Sam’s latest book ‘The Grand Redesign’.
Part science-fiction, part operating manual for upgrading human OS, ‘The Grand Redesign’ touches on a number of recurring Infinite Loops themes, and is available for free online (see ‘Important Links’ section below).

Important Links:

• The Grand Redesign
• Sam’s Twitter
• Sam’s Substack
• The Thinker and The Prover
• Tinkered Thinking’s winning entry to our ‘White Mirror’ competition

Show Notes:

• Why Sam wrote the book
• Is the Watcher a reliable narrator?
• Interfering with complex systems
• An overview of Social OS
• Why we need White Mirror
• The kindness pledge
• Incentives and the Cobra Effect
• How do we break the Shannon limit?
• Jim’s movie idea
• Improving the political and legal system
• The opportunities of AI
• Optimising our system for flourishing
• Finding the hidden geniuses
• Sam’s solutions; reaching the tipping point
• Sam’s hopes for the book
• MUCH more!

Books Mentioned:

• The Grand Redesign; by Sam McRoberts
• The Status Game: On Human Life and How to Play It; by Will Storr
• Prometheus Rising; by Robert Anton Wilson
• House of Cards: Psychology and Psychotherapy Built on Myth; by Robyn Dawes
• The Lessons of History: by Will Durant and Ariel Durant
• Happy: Why More or Less Everything is Absolutely Fine; by Derren Brown
• The Inevitable: Understanding the 12 Technological Forces That Will Shape Our Future; by Kevin Kelly

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A16z Podcast

Podcast Notes Key Takeaways * Check Out the a16z Podcast Episode Page & Show Notes

Read the full notes @ podcastnotes.org

with @robertiger @cdixon @smc90

A wide-ranging conversation with Bob Iger on the interplay between technology, content, and distribution; as well as Bob’s journey -- and that of various creators! -- especially as the industry evolved from TV and cable to the advent of the internet/ web 1.0 to 2.0 to briefly touching on web3 and other emerging technologies. As well as topics top of mind for all company and community builders: from build vs. buy and the innovator's dilemma, to managing creativity, decentralization, remote work, and much more.

Subscribe to web3 with a16z: https://podcasts.apple.com/us/podcast/web3-with-a16z-crypto/id1622312549

Stay Updated:

Find us on Twitter: https://twitter.com/a16z

Find us on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://twitter.com/stephsmithio

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. For more details please see a16z.com/disclosures.

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My First Million

Podcast Notes Key Takeaways * Shaan Puri’s takeaways from the San Diego party: storytelling wins, he should leave the house more often, and the life phase a person is in dictates their energy and pursuits * Everyone at the party was impressive, but the ones that knew how to tell a story were the ones that stood out and made the most connections * The storytelling “sizzle” makes you memorable whereas simply listing facts about yourself or your business does not * One or two focused entrepreneurs with no money can do more in six months than a 50-person team at a large organization with millions of dollars, according to Sam Parr * The zero-to-one creative types are probably not working at the big company, and the mid-level managers do not want to take unnecessary risks and fail * It is common for a startup’s velocity of progress to dramatically slow post-acquisition, which is not always bad on net * After selling your startup and joining the company that acquires it, you trade entrepreneurial anxiety for bureaucratic frustration * It is much easier to launch something as a startup because you are beholden to no one * Big companies have the mindset of an ultra-marathon runner whereas startups have the mindset of a sprinter * Mistakes made by big companies cost more in terms of money, reputation, and time compared to mistakes made by lean startups * The best ideas are things that sound like bad ideas but are actually good ideas, paraphrasing Peter Thiel

Read the full notes @ podcastnotes.org

Episode 405: Shaan Puri (@ShaanVP) and Sam Parr (@TheSamParr) talk about what happens when Shaan leaves the house and meets up with other founders, the power of storytelling, the things you learn when you sell a company and how to hire a researcher.
Want to see more MFM? Subscribe to the MFM YouTube channel here.

Links:
Alpha Paw
Genius Litter
Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.
Want more insights like MFM? Check out Shaan's newsletter.

Show Notes:
(04:20) - Shaan leaves the house and meets cool people
(13:15) - When Ramon pretended to be an electrician
(18:30) - Power of storytelling
(21:25) - Age and perception
(28:25) - Frame break
(30:10) - Things you learn when you sell a company
(46:05) - How to hire a researcher

Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

Additional episodes you might enjoy:
• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits
• #209 Gary Vaynerchuk - Why NFTS Are the Future
• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto
* #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett
• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates
• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More
• How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

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Artificial Intelligence Podcast

Podcast Notes Key Takeaways * If MrBeast knew he was going to die soon, he would make a decade worth of content and schedule-upload the videos so they would continue to come out after he is dead * “Whatever makes the best video” is the answer to any content creation or production strategy * The criteria for a good title: “If someone reads it, do they have to watch it?” * It is very unlikely that Twitter, or any other platform, will be able to pay out higher CPMs than YouTube * Going viral on YouTube is a learnable skill, it is not random * If you have zero videos on your channel, your first ten videos are not going to get views * Do not over-strategize if you are a beginner; just get to work and start uploading * When someone tells you something is not possible, go through all the variables and eliminate them yourself * Subscribers are a vanity metric; most of your views come from the home feed, not the subscriber feed * The optimal way to respond to a video that does poorly is to remove emotion from the equation and objectively evaluate what went wrong * Entrepreneurs must engage in activities that recharge their batteries during their downtime * Throw the conventional stuff out the window and focus on what is actually practical for your business * “Hopefully there is a day where I can give away a billion dollars in a video.” – MrBeast * The people you are around dictate your outcome; be extremely selective about who you spend your time around * “You are crazy until you are successful. Then you are a genius.” – MrBeast

Read the full notes @ podcastnotes.org

MrBeast is a legendary YouTube creator. Please support this podcast by checking out our sponsors: – House of Macadamias: https://houseofmacadamias.com/lex and use code LEX to get 20% off your first order – Eight Sleep: https://www.eightsleep.com/lex to get special savings – BetterHelp: https://betterhelp.com/lex to get 10% off EPISODE LINKS: MrBeast Main Channel: https://youtube.com/@MrBeast MrBeast Reacts: https://youtube.com/@BeastReacts MrBeast Gaming: https://youtube.com/@MrBeastGaming MrBeast Philanthropy: https://youtube.com/@BeastPhilanthropy MrBeast’s TikTok: https://tiktok.com/@mrbeast MrBeast’s Twitter: https://twitter.com/MrBeast MrBeast’s Instagram: https://instagram.com/mrbeast Feastable’s Website: https://feastables.com MrBeast Burger’s Website: https://mrbeastburger.com MrBeast’s Merch: https://shopmrbeast.com PODCAST INFO: Podcast website: https://lexfridman.com/podcast Apple Podcasts: https://apple.co/2lwqZIr Spotify: https://spoti.fi/2nEwCF8 RSS: https://lexfridman.com/feed/podcast/ YouTube Full Episodes: https://youtube.com/lexfridman YouTube Clips: https://youtube.com/lexclips SUPPORT

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Masters in Business

Podcast Notes Key Takeaways * “I’m a client guy. No one wants to drink alone. So if he’s drinking, or if she’s drinking, I’m drinking.” – John Mack * John came from a small predominantly Baptist town in North Carolina; the party scene of 1970s Wall Street was a culture shock for him * Lessons learned from the bond desk: be upfront, focus on your clients, and don’t get drunk at lunch (but occasionally do) * “At the end of the day, it’s all about trust. And it’s all about delivering on what you say you are going to do.” – John Mack on building business relationships * Globalization and technology changed Wall Street more than anything else * In the 1970s, Wall Street bankers would go out to lunch for hours and not miss anything; today, bankers can’t leave their desk * John Mack tried to create a “One Firm, Firm” culture that reduced information silos and encouraged collaboration * Anyone with a personal fiefdom is terrible for a firm trying to create a strong culture * Advice for college graduates interested in finance: get your foot in the door, figure out how to get to know people in the company that you want to work for, perform well in your current job, and get an accounting degree or an MBA if you want to be an M&A specialist * Hold onto the great companies that you invest in

Read the full notes @ podcastnotes.org

Bloomberg Radio host Barry Ritholtz speaks with the legendary John Mack, former chief executive officer and chairman of the board at Morgan Stanley. His memoir of his life and 34-year tenure at Morgan Stanley — “Up Close and All In: Life Lessons From a Wall Street Warrior” — was published in October.

See omnystudio.com/listener for privacy information.

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My First Million

Podcast Notes Key Takeaways * Check out My First Million Podcast Episode Page & Show Notes

Read the full notes @ podcastnotes.org

Episode 370: Sam Parr (@TheSamParr) talks to best-selling author, podcaster, bookstore owner, and former marketing director for American Apparel, Ryan Holiday (@RyanHoliday), about how to make money in publishing, creating a masterpiece, and investing in a ghost town.

Links:
Ryan Holiday
Trust Me I'm Lying: Confessions of a Media Manipulator
Brass Check
The Painted Porch Bookshop
Vinyl Me, Please
Ghost Town Living
Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.
Want more insights like MFM? Check out Shaan's newsletter.

Show Notes:
(03:55) - Does the bestseller list still matter?
(05:30) - Breaking down the #s of the publishing industry
(29:20) - How big is your team?
(35:10) - Who do you admire?
(44:40) - The pros and cons of reality distortion fields
(50:40) - Ryan's ghost town

Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

Additional episodes you might enjoy:
• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits
• #209 Gary Vaynerchuk - Why NFTS Are the Future
• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto
* #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett
• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates
• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More
• How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

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Rich Roll Podcast

Podcast Notes Key Takeaways * Check Out the Rich Roll Episode Page and Show Notes

Read the full notes @ podcastnotes.org

As 2022 comes to a close and a new year beckons, we are presented with an opportunity to reflect on the past twelve months. Explore new aspirations. And set intentions for the year to come. Allow me to indulge this truth by introducing Part Two of my annual yearbook—an auditory anthology of the year’s most compelling conversations. Enjoy the best of the year.

Guest List + Full Episode Links:

• RRP 692: Malcolm Gladwell
• RRP 723: Mel Robbins
• RRP 715: Casey Neistat
• RRP 718: Whitney Cummings
• RRP 695: Peter Attia, MD
• RRP 678: Gemma Newman, MD
• RRP 702: Dr. Gabor Maté
• RRP 714: Robynne Chutkan, MD
• RRP 703: Max Fisher
• RRP 660: Sylvia Earle
• RRP 701: Ken Rideout
• RRP 694: Colin O’Brady & Jenna Besaw
• RRP 705: Paul Conti, MD
• RRP 670: Earthling Ed Winters
• RRP 681: Chip Conley

Show notes + MORE

Watch on YouTube

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Peace + Plants,

Rich

Hosted on Acast. See acast.com/privacy for more information.

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Infinite Loops

Podcast Notes Intro * O’Shaughnessy Ventures (OSV) is a company that invests in creators in the areas of art, science, and technology to help promising creators and their inspiring ideas succeed * For most of human history, a genius was born, lived, and died, and no one knew a thing about him or her; today’s technology changes that * The Great Reshuffle: Jim’s thesis that all the old business models are collapsing, and that very different, new ones are taking their place * “I believe that AI is the third technology revolution.” – Jim O’Shaughnessy * We need as much cognitive diversity as possible for technologies like AI to work; it is currently very Western-centric * Humans cannot prophesize future knowledge, and thinking that we can is a bug in the human operating system * Big Tech used the AI algorithm to maximize revenue, but these objective functions can also be used to maximize things like creativity and happiness * The guiding principle for OSV: asymmetric opportunities that are win-win * Every system other than capitalism – many of them religions – promised people that they would be fed and housed, and they all failed over the millennia * Jim believes the free market system succeeds because it is most aligned with human biology and the world * Traditionally, networks were where you went to school and where you grew up; but today, networks are being redefined as geography, time, and space all collapse * Luck exists, and if you’re reading this you probably hit the cosmic lottery, but you must still play the hand that you are dealt * Money is a technology that is used to bring ideas to life

Read the full notes @ podcastnotes.org

We’ve landed.

After 3 months of stealth mode, sneak-peeks, and surprise announcements, we have finally hit launch day.

In this special episode of Infinite Loops, hosted by Patrick O’Shaughnessy, Jim chats through the rationale behind founding OSV, the positive impact he wants it to have on the world, and the ways you can get involved.

Important Links:

• OSV’s Website
• Jim’s Twitter

Show Notes:

• The origins of OSV
• Why OSV does not invest third parties’ money
• The story of Jim’s investment in Stability AI
• What has surprised Jim the most about the world of AI
• What OSV will look like on 1 January 2023: the four verticals
• Assembling the OSV team
• OSV’s objective function
• Where the majority of Jim’s energy will be directed
• How you can get involved with OSV

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Starting Greatness with Mike Maples

Podcast Notes Key Takeaways * Boom Supersonic is the first entrepreneurial commercial airliner startup in a century * The airliner industry has been taken over by financial types starting in the 1970s, which is one of the reasons why innovation has stalled * Don’t dismiss the thing that you actually want to create for the thing you think you’re good at because what you are good at can change with the right motivation and effort * “We’re just taking a 787, making it long and skinny, changing the wing shape, and putting in more engines.” – Blake Scholl * Very special companies, typically founder-led, are the only companies willing to cannibalize their current business to build for the future * A technically-credible founder, effective storytelling, meaningful partnerships, and top-tier talent are required for a company to succeed * Half of Boom Supersonic’s seed money came from investors that Blake knew from his previous company, and the other half came from investors that were passionate about aviation but thought he was crazy for trying to do this * When in fundraising mode, accomplish milestones that are actually progress, but also ones that look like progress * Tangible, visible, relatable progress is essential for being able to fundraise * Avoid the Bystander Effect, which describes how the more people that are watching a problem, the less likely it is that any one of those people will do something about it * Falling victim to the Bystander Effect prevents society’s most important and obvious problems from being solved

Read the full notes @ podcastnotes.org

More than fifty years after the first Concorde took flight, consumer air travel is actually SLOWER. Blake Scholl and his team at Boom Supersonic are out to reverse this stagnation and change how we think about commercial aviation. In this episode, Mike Maples, Jr of FLOODGATE interviews Scholl to learn more about the history of American aviation, the origins of Boom Supersonic and the challenges it faces now, and how tech founders are exploring unfamiliar spaces with great success.

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My First Million

Podcast Notes Key Takeaways * The first copy of Morning Brew (called “Market Corner” at the time) was a PDF attached to an email that was sent out to University of Michigan students * In the early days, Austin and his co-founder Alex would print out the Morning Brew and The Hustle every day and compare them line by line to see which line was better * Austin splits up newsletters into three categories: editorial, aggregation, and then Morning Brew for X, and believes Morning Brew for X has the most potential * Some entrepreneurs are good at taking an idea from zero to one, and others are better at making private equity like improvements to a business * “I think we may have broken a couple of laws to get our first couple thousand subscribers.” – Austin Rief * Getting an early win in life, such as selling a company for $75M, opens up tons of doors and can pretty much get you in a room with anyone * Austin Rief believes the part of Morning Brew that was not sold will eventually sell for multiples more than the first half that was sold * “Becoming famous is awesome. Being famous is cool. And losing any fame is horrible.” – Will Smith * Wealth is all about having time, and spending your time how you want to * Austin is a “vacuum” when he hires people with more experience than him; he tries to learn as much as possible from them in a short period of time to catch up to them

Read the full notes @ podcastnotes.org

Episode 398: Shaan Puri (@ShaanVP) and Sam Parr (@TheSamParr) talk to Morning Brew CEO Austin Rief (@austin_rief) about building, growing and selling a newsletter valued at $75M in 5 years, discussing the question are newsletters still worth doing, and a few good side hustle ideas to start now.

Links:
Morning Brew
Toptal
Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.
Want more insights like MFM? Check out Shaan's newsletter.

Show Notes:
(01:00) - Morning Brew origin story
(19:10) - ad sales
(24:10) - Austin's strengths
(32:15) - Austin's upbringing
(42:55) - what did you do with your new found wealth?
(45:55) - ideas brainstorm
(01:13:14) - future plans

Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

Additional episodes you might enjoy:
• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits
• #209 Gary Vaynerchuk - Why NFTS Are the Future
• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto
* #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett
• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates
• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More
• How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

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Aarthi and Sriram's Good Time Show✓Claim

Podcast Notes Key Takeaways * Steven Sinofsky doesn’t write immediately when he has an idea; he will stew with an idea for days at a time so he can really think about it * The Darwinian element of early Microsoft was the ability to do email * Microsoft had to realize that TCP/IP was not something it had to make go away, but something that the company would have to pivot around * After getting back from a recruiting trip at Cornell, and only three months on the job as Bill Gates’s technical assistant, Steven wrote a memo explaining why Microsoft had to adopt the “internet thing” * People celebrate the winner for a short time, and then go onto to dislike the winner for a long time * “My whole career at Microsoft I thought we were on the verge of going out of business.” – Steven Sinofsky on only the paranoid survive * The Mac vs PC ads were “brutal”, according to Steven Sinofsky; they were 90% accurate, but the 10% that was inaccurate drove him absolutely bonkers * Have a “Strong opinion, willing to change” operating framework * “Leading is giving people a picture upon which to decide things so that you are not the limiting factor, the gatekeeper, or the micromanager.” – Steven Sinofsky * Leadership requires the fortitude to create the picture for those following you and then let it go * “There is a very fine line between leadership and manipulation.” – Steven Sinofsky

Read the full notes @ podcastnotes.org

This week's special guest is Steven Sinofsky, one of our favorite techno-optimists responsible for shipping Windows and Office products at Microsoft used by billions of people. He is also the author of one of the most popular Substack books - https://hardcoresoftware.learningbyshipping.comIn this episode we talked about Steven's early days at Microsoft, his famous internet memo, working with Bill Gates, and the traits he sees in good leaders and founders, how to set company culture, his experience leading Office and Windows teams at Microsoft, and the secret behind his ability to write well.

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How Leaders Lead with David Novak✓Claim

Podcast Notes Key Takeaways * Investing is constantly looking at the world as a collection of puzzles, and trying to figure out those puzzles * “I cared about my performance. But what I really cared about was how fast I was learning and how fun the business was.” – Stanley Druckenmiller * The cardinal sin in money management is to getting emotional * “One of the big sins of the Fed is they tend to keep monetary policy too loose for political reasons when the punch bowl should be pulled away.” – Stanley Druckenmiller * Rule number one of being a successful money manager is being overly competitive * Admit that you have had failures, and then go back and analyze those failures so that you can learn from them * Stan is more concerned about a potential crisis happening between 2020 and 2030 now than he has ever been * The current economic conditions are the most “unprecedented cocktail” Druckenmiller has ever been served * Do not invest in the present; imagine how the world is going to be in 18-24 months and invest in that world * Investing principles from Stanley Druckenmiller: + Put all your eggs in one basket and watch it very carefully + If you have an idea, invest quickly and study it later + Examine leading and lagging industries + Be imaginative about what could go wrong (and right) * “That’s the number one lesson I’ve learned. Spend as much time as you can with your children.” – Stanley Druckenmiller

Read the full notes @ podcastnotes.org

Welcome to How Leaders Lead where every week, you get to listen in while I interview some of the VERY best leaders in the world. I break down the key learnings so that by the end of the episode, you’ll have something simple you can apply as you develop into a better leader. That’s what this podcast is all about!
Today’s guest is Stanley Druckenmiller, the #1 investor in the world.
I know, that’s a big claim! But get this: during his 30 years managing money for investors, he had an average annual return of 31%. And he NEVER had a down year. So if you’re even a little interested in finance, you’re going to learn a lot from Stan – including some really practical investment advice and his take on the future of our economy.
But more importantly, there’s a huge leadership lesson to learn. Stan isn’t afraid to envision the future differently than other people. He can see trends and patterns others can’t – and then he has the courage to act on them.
That’s a skill EVERY leader needs to develop. Seeing the future differently allows us to spot opportunities and prepare for what’s coming. If we just go with the flow of what’s current, we’ll always just be a part of the trend, not ahead of it.
You’re about to see for yourself how great leaders aren’t afraid to see the future differently.
So here is my conversation with my good friend, and soon to be yours, Stanley Druckenmiller.

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Twenty Minute VC

Podcast Notes Key Takeaways * Mailchimp was kind of an accidental business; it was originally built for just a few customers who were struggling to send out email newsletters * The freemium pricing option teleported Mailchimp’s user base from tens of thousand to over a million users within a year of adding it * It is not always better to be faster * It’s okay to be stressed and have chaotic feelings on the inside, but a calm demeanor is important to convey as a leader * “The key to happiness is staying in your lane, and knowing when people need to be in their lane. Don’t get in their lane, and don’t let them get in your lane.” – Ben Chestnut * If you are a “hands-off” leader, ensure that you are also not an “eyes-off” leader * How you are perceived as a leader is often dependent on the setting in which you are leading * Founders tend to conflate their identity with that of their business; but with time, they realize that their life is not their business when they genuinely begin to reflect on their life * Ben is grateful for easing into new levels of wealth over the course of his life instead of having a one-time, shocking liquidity event * The happiest couples have husbands who keep their damn mouth shut * “What I want the most is to not want.” – Ben Chestnut

Read the full notes @ podcastnotes.org

Ben Chestnut is the Co-Founder of Mailchimp, the all-in-one marketing platform for small businesses. Last year, in Sept 2021 it was announced that Intuit would acquire Mailchimp for a reported $12BN. There are so many things to love about the Mailchimp journey to this point. First, Mailchimp was founded as the result of a side project of a design agency Ben and his co-founder, Dan, used to run. Second, Mailchimp is and has always been based in Atalanta, eschewing the notion you have to be in SF or NYC to build a massive business. Then third, they never raised venture funding for the business all the way until their $12BN acquisition. Ben led Mailchimp to over 1,200 employees and millions of global users.

In Today's Episode with Ben Chestnut We Discuss: 1. From Mama's Kitchen to the Smell of Business and Founding Mailchimp:

• How did Ben turn a mediocre agency into the founding of Mailchimp? What was the a-ha moment?
• At what stage of the business did Ben quit the agency and go all in on Mailchimp? What sign did he need that Mailchimp had true product-market fit?
• When Ben's mother died, he bought every flower in the local town to commemorate her. How did Ben's mother impact the type of father and husband he is today? How did she impact the way that he led Mailchimp as CEO?

• Ben's fishing trips with his father played a big role in his early years, what were the single biggest lessons for Ben from his fishing trips with his father?

• Ben Chestnut: The Leader:

• How does Ben define the term "high performance" in leadership?

• What does Ben mean when he says "the secret to happiness is to stay in your lane"?
• Why would Ben describe himself as the "leader of the misfits"? How did that early experience and labeling impact both the people he hired and the culture he created at Mailchimp?

• What does Ben mean when he says he used to have a "hands off, eyes off" leadership style? What have been the single biggest drivers in his development as a leader?

• Ben Chestnut: The Person:

• Relationship to Money: How does Ben reflect on his relationship to money? How has it changed over time? Why does Ben still to this day buy lottery tickets with his wife?

• Conquering Fatherhood: What does being a great father to Ben mean? How does Ben attempt to instil the same work ethic and drive when his children are born into immense wealth?
• The secret to Marriage: What does Ben believe is the core to a successful and thriving marriage? How does Ben view his role in the marriage? How has it changed over time?

• Potential Lost Identity: A founder's identity is so closely tied to their company, how did Ben manage the challenge of selling his company but retaining his identity? What did Ben learn about himself through many different acquisition processes?

• Mailchimp: The Business:

• Why did Ben never raise venture money in the 21 year journey of Mailchimp?

• Why did Ben never accept any of the acquisition offers that came before Intuit?
• How did Ben motivate his team after they knew each acquisition offer was being turned down?
• Why did Ben decide the acquisition by Intuit was the right decision for the company?
• How does Ben view his role in the company now and moving forward?

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My First Million

Podcast Notes Key Takeaways * “Strippers know a recession is coming before anybody”– Shaan Puri + Based on the psychology of spending at strip clubs * “Black Friday is like a license-to-spend when you didn’t even need to spend”– Shaan Puri + Sam wants to boycott Black Friday, he hates the idea of buying stuff that you don’t need * Shaan’s three scenarios for how Elon’s Twitter takeover may play out: + 1. Elon makes Twitter more finically viable and everything settles in + 2. Twitter becomes the everything app + 3. Negative snowball effect on Elon’s finances * Continue reading for more detail and to see which scenario Sam thinks is most likely

Read the full notes @ podcastnotes.org

Episode 390: Shaan Puri (@ShaanVP) and Sam Parr (@TheSamParr) talk about Eric Langan and his foray into owning strip clubs, why we should boycott Black Friday, three Twitter scenarios, how to fly on a private jet and much, much more.

Links:
Jettly
r/fatFIRE
Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.
Want more insights like MFM? Check out Shaan's newsletter.

Show Notes:
(03:20) - Eric Langan
(12:50) - Black Friday
(18:40) - Twitter
(36:10) - George Hotz
(48:10) - Private jets
(53:00) - fatFIRE subreddit

Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

Additional episodes you might enjoy:
• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits
• #209 Gary Vaynerchuk - Why NFTS Are the Future
• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto
* #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett
• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates
• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More
• How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

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My First Million

Podcast Notes Key Takeaways * Paul English has sold six companies, most notably Kayak for $2B, and is currently working on his seventh company * Paul’s internal rate of return is around 30.5% over the last several years across 60 investments * He has some “famous misses”, which include Airbnb, YouTube, Snapchat, and Dropbox * “Team first, customer second, profit third.” – Paul English * Magical teams create magical products, and magical products tend to create profits * After successfully recruiting a talented person, Paul asks them, “Do you know anyone more amazing than you?” * Companies fail because of a founder implosion or because it is trying to solve a problem that no one cares about * “It makes me sad when I see a beautiful product that solves a problem I don’t care about.” – Paul English * Find something that irritates you in your daily life and create a product that resolves that irritation * Paul questions whether a person like Elon (the richest person in the world) should have as much power as he does (control over the world’s richest source of information) * Paul thinks Elon will do something interesting with Twitter, but he’s more interested in all the Twitter replacements that will come out

Read the full notes @ podcastnotes.org

Episode 394: Shaan Puri (@ShaanVP) and Sam Parr (@TheSamParr) talk with entrepreneur and Kayak co-founder, Paul English (@englishpaulm) about his latest business ideas, his famous missed investments, how to become a strong recruiter, and why he wants to create Twitter's competitor.

Links:
Paul English
Boston Venture Studio
Middle
Bipolar Social Club
Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.
Want more insights like MFM? Check out Shaan's newsletter.

Show Notes:
(00:25) - switched jobs for a day
(07:05) - who did you know before they met success
(13:45) - become an excellent recruiter
(20:25) - starting a company easier now?
(28:15) - Irritation becomes inspiration
(30:55) - Ideas he's working on
(34:10) - Bipolar disorder

Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

Additional episodes you might enjoy:
• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits
• #209 Gary Vaynerchuk - Why NFTS Are the Future
• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto
* #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett
• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates
• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More
• How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

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My First Million

Episode 391: Sam Parr (@TheSamParr) and Shaan Puri (@ShaanVP) talk about their new favorite AI tool, how to make money from arbitrage, goal setting for 2023, and more.

Links:
Character.AI
Adept
State of AI Report
Vintage Wall Graphics - Etsy
Pipe
Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.
* Want more insights like MFM? Check out Shaan's newsletter.

Show Notes:
(03:15) - State of AI
(20:00) - Sam & Shaan's 2023 goals
(46:55) - Arbitrage
(01:03:11) - Clapping back on Twitter

Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

Additional episodes you might enjoy:
• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits
• #209 Gary Vaynerchuk - Why NFTS Are the Future
• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto
* #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett
• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates
• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More
• How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

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A16z Podcast

Podcast Notes Key Takeaways * It’s important to differentiate between the singular “metaverse” and plural “metaverses” * The metaverse can be an incredibly diverse range of experiences, but Neal understands it to be a singular metaverse with a wide variety of experiences and not multiple metaverses * Games are the closest things we have to metaverse-like experiences, such as Fortnite, Roblox, and Minecraft * Controversy in the gaming-crypto nexus arises from friction between the ideological crypto bros’ desire for interoperability with the game developers’ appreciation for engineering and aesthetics * “We absolutely do not need AR and VR in order to build the metaverse.” – Neal Stephenson * About 5-10% of people experience motion sickness when using state-of-the-art VR; imagine trying to popularize television in the 1950s with the caveat that 5-10% of people will throw up into a waste basket within the first 30 minutes of watching * A good way to think about the metaverse is it as a communications medium, and any communications medium is trying to reach the broadest possible audience * The question of intellectual property when it comes to things like DALL-E is an ethical question that will need to be sorted out eventually * The right of refusal must exist in the metaverse; creators must be able to dictate what their IP can and cannot be used for * People are endlessly creative in both good and bad ways; technology will continue to be used for good and for evil * Neal made his blockchain a proof-of-stake chain because it would have been weird to launch a carbon-intensive chain just after publishing a book centered around climate change * “I think the two most important things are carbon and the polarization of society.” – Neal Stephenson

Read the full notes @ podcastnotes.org

When Neal Stephenson coined “the metaverse” three decades ago, his book Snow Crash was found on the shelves of “science fiction”. While the book remains in that category, many of its concepts are now found in reality…

Fast forward to 2022, where numerous companies are now building toward their version of the metaverse, including Neal himself – working on Lamina1 – a blockchain company oriented toward creators.

While the present metaverses don’t perfectly mimic that from Stephenson’s early imagination, we get the unique opportunity to discuss the various design decisions that he’s making, but also the intersection between the metaverse and gaming, the involvement that AR/VR might play, the evolving role of IP, how artificial intelligence fits in, what he’s building and why, and where he gets all of his ideas from.

Resources:

Neal’s Twitter: https://twitter.com/nealstephenson

Lamina1’s website: https://www.lamina1.com/

Stay Updated:

Find us on Twitter: https://twitter.com/a16z

Find us on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app:https://a16z.simplecast.com/

Follow our host: https://twitter.com/stephsmithio

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. For more details please see a16z.com/disclosures.

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My First Million

Podcast Notes Key Takeaways * Check out My First Million’s Episode Page & Show Notes

Read the full notes @ podcastnotes.org

Episode 388: Shaan Puri (@ShaanVP) and Sam Parr (@TheSamParr) talk to Bryan Johnson (@bryan_johnson) about starting Braintree - which he sold for hundreds of millions - and is his current businesses as Founder/CEO of Kernel and his own personal project Blueprint, where he's working to reduce his biological age.

Links:

• Braintree

• Kernel

• Blueprint

• Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.

• Want more insights like MFM? Check out Shaan's newsletter.

Show Notes:

(03:25) - Background starting w/Braintree

(15:30) - Financial plans and life changes

(21:45) - Where do you put your money

(27:05) - What does Kernel do

(36:55) - Blueprint blog

(57:40) - Goal alignment

Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

Additional episodes you might enjoy:

• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits

• #209 Gary Vaynerchuk - Why NFTS Are the Future

• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto

• 169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett

• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates

• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More

• How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

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Nudge - Marketing Science Simplified✓Claim

Podcast Notes Intro * Nudge podcast host, Phil Agnew (@p_agnew), explains the ancient storytelling technique he used to make viewers 82% more likely to follow his TikTok

Read the full notes @ podcastnotes.org

Today’s title sounds like clickbait, but that’s the point. In this show, I share the history of clickbait, why curiosity can make someone seem more attractive, the science behind memory, and how I got 11k followers on TikTok in just two weeks. 

Listen to the episode “How I made a Reddit ad 15% more effective”: bit.ly/3E8jpYR

The data behind the TikToks: https://bit.ly/3vd5QUg

Robert Cialdini’s Pre-Suasion: https://amzn.to/3OvEYFB

Sign up for my newsletter: https://www.nudgepodcast.com/mailing-list

Try HubSpot for free: https://hubspot.sjv.io/jWq4k6

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Value Hive Podcast ✓

Claim

Podcast Notes Key Takeaways * The first rule of marketing is you can’t be remembered if you don’t stand out * Every business can be described through the Five Pillars: Brand, Channel, Technology, Demand Creation, and Operations * The brand is the gut feeling you induce, in your ideal clients, when they interact with your product * Doomberg has a “Get to, Have to” ratio, which describes how much of their day is spent doing things they get to do, and how much of their day is spent doing things they have to do + Maximize Get to, minimize Have to * The amount of work required to be successful cannot be done unless you’re truly passionate about whatever it is you’re working on * “If you have a genuine mindset of continuous improvement, there’s no such thing as a struggle. There is only an opportunity to observe data and improve.” – Doomberg * Doomberg doesn’t begin to write a piece without the perfect title * The team prioritizes quality over sticking to some arbitrary, self-imposed, internal publishing cadence * For a piece to go viral, it must capture the zeitgeist of the moment * What makes for a great piece: hook your ideal clients in with a great story, keep them interested with a great transition, deliver the promised goods, and then wrap it up tightly * Most of the people who pay for your content do so because they like you and they want you to succeed * The net present value of giving is infinite; authentically give, give, give, and sometimes money shows up * The environmental movement in the United States has a history of anti-human, Malthusian pessimists who were terrified of what humans would do with abundant, cost-effective energy * Nuclear energy solves all the problems related to energy and climate; there are no new technical inventions required, only political will and ambition * “The fascination with wind and solar, we believe, is because they know it won’t work. They don’t want it to work. If they wanted it to work, we’d be doing nuclear.” – Doomberg * Don’t get distracted from the things that drove your initial success in an effort to “grab more”

Read the full notes @ podcastnotes.org

Hey Guys! I started The Value Hive Podcast three years ago on the floor of my bedroom in my parents house. Today, I interviewed the iconic green cartoon chicken Doomberg. Lesson? Work hard and you too can interview cartoon chickens. This episode is a behind the scenes of what happens inside the hen house. Going from idea generation to the first draft, then to editing and publishing. How to use twitter to create demand. Why having a good enough title is is essential for crossing the chasm into virality, and lessons learned from starting Doomberg and what the future holds.

• [0:00] The Story behind Doomberg
• [4:50] The Story behind the Name and the iconic Chicken
• [6:20] The Five Pillars of a Business
• [9:20] Pillar #1: Brand
• [16:00] Struggles of Running a Newsletter
• [27:00] Crossing the Chasm into Virality
• [32:00] Idea Generation to First Draft
• [40:00] Editing the First Draft
• [48:30] Lessons Learned from Starting Doomberg
• [51:00] Demand Creation: Impressions.
• [1:03:00] Long/Short based on Doomberg Articles
• [1:09:40] Twitter Q&A: The Best Energy Policy in the World?
• [1:12:00] The Future of Doomberg
• [1:23:00] More from Doomberg and Closing Questions

Finally, a big thanks to the following sponsors for making the podcast a reality.

Mitimco

This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created emergingmanagers.org, a website for emerging manager stockpickers.

For those looking to start a stock-picking fund or just looking to learn about how others have done it, I highly recommend the site. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers and more!

Quartr

Quartr is revolutionizing the way investors interact with IR departments, listen to conference calls, and conduct research. The best way to think of Quartr is like Spotify for investor conference calls. Quartr is 100% free and includes markets from 12+ countries (with plans to expand in the future!). Investors can easily request new companies, and Quartr is quick to add them. You can learn more about Quartr by visiting their site, Quartr.se

If you're interested in changing the way you research companies, download the app today and give it a try on Apple and Android.

Tegus

Tegus has the world’s largest collection of instantly available interviews on all the public and private companies you care about. Tegus actually makes primary research fun and effortless, too. Instead of weeks and months, you can learn a new industry or company in hours, and all from those that know it best.

I spend nearly all my time reading Tegus calls. And I know you will too. If you’re interested, head on over to tegus.co/valuehive for a free trial to see for yourself.

TIKR

TIKR is THE BEST resource for all stock market data, I use TIKR every day in my process, and I know you will too. Make sure to check them out at TIKR.com/hive.

Support this podcast: https://anchor.fm/valuehive/support

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Lenny's Podcast: Product | Growth | Career ✓

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Podcast Notes Key Takeaways * Check out Lenny’s Podcast Episode Page & Show Notes

Read the full notes @ podcastnotes.org

Matt Mochary, CEO of Mochary Method, is a full-time executive coach who has worked with some of the biggest names in tech and finance, including investor Naval Ravikant and the CEOs of Notion, OpenAI, Coinbase, Reddit, and many others. In today’s podcast, we talk about the skill of firing people, why it’s so important, and Matt’s framework for approaching layoffs. We go deep on recognizing emotions like anger and fear, and what to pay attention to when you feel angry or fearful. He also shares how to build new products within a larger company, important tips on how to make sure everyone in the organization feels valued and heard, carving out time for your top goal, and how an energy audit can help you eliminate tasks that are draining your energy.

—

Find the full transcript here: https://www.lennyspodcast.com/how-to-fire-people-with-grace-work-through-fear-and-nurture-innovation-matt-mochary-ceo-coach/#transcript

—

Where to find Matt Mochary:

• Twitter: https://twitter.com/mattmochary

• LinkedIn: https://www.linkedin.com/in/matt-mochary-34bb4/

• Website: http://www.mochary.com/

—

Where to find Lenny:

• Newsletter: https://www.lennysnewsletter.com

• Twitter: https://twitter.com/lennysan

• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

—

Thank you to our wonderful sponsors for making this episode possible:

• AssemblyAI: https://www.assemblyai.com/?utm_source=lennyspodcast&utm_medium=podcast&utm_campaign=nov10

• Lemon.io: https://lemon.io/lenny

• Vanta: https://vanta.com/lenny

—

Referenced:

• The Great CEO Within: The Tactical Guide to Company Building: https://www.amazon.com/Great-CEO-Within-Tactical-Building-ebook/dp/B07ZLGQZYC

• Mochary Method: https://mocharymethod.org/

• Leo Polovets on Twitter: https://twitter.com/lpolovets

• High Output Management: https://www.amazon.com/High-Output-Management-Andrew-Grove/dp/0679762884

• The Hard Thing About Hard Things: Building a Business when There Are No Easy Answers: https://www.amazon.com/Hard-Thing-About-Things-Building/dp/0062273205

• Andrej Karpathy on Lex Fridman’s podcast: https://lexfridman.com/andrej-karpathy/

• Wei Deng on LinkedIn: https://www.linkedin.com/in/dengwei/

• Free Solo: https://films.nationalgeographic.com/free-solo

• Ryan Hoover on Twitter: https://twitter.com/rrhoover

• Essentialism: The Disciplined Pursuit of Less: https://gregmckeown.com/books/essentialism/

• Make Time: How to Focus on What Matters Every Day: https://www.amazon.com/Make-Time-Focus-Matters-Every/dp/0525572422

• Centered app: https://www.centered.app/

• Diana Chapman at Conscious Leadership Group: https://conscious.is/team/diana-chapman

• The Mochary Method curriculum doc: https://docs.google.com/document/d/18FiJbYn53fTtPmphfdCKT2TMWH-8Y2L-MLqDk-MFV4s/edit

—

In this episode, we cover:

(04:43) Matt’s background

(07:39) Areas where even very successful founders struggle

(12:24) How to address people to minimize defensiveness

(13:24) The destructive nature of anger and how to feel your feelings so you don’t hurt others

(15:02) Which books led Matt to his coaching journey and software platform

(19:03) When and how to let an employee go

(31:47) How to make people feel heard

(38:05) How Matt’s coaching has evolved to include psychological obstacles to success

(39:41) What is “top goal,” and how can it help you make massive gains?

(41:25) Why Matt has an accountability partner for his top goal time

(43:44) How to approach mass layoffs humanely

(53:21) Matt’s thoughts on the Twitter layoffs

(54:10) How to innovate within a large company

(1:01:53) How to do an energy audit

—

Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.

Get full access to Lenny's Newsletter at www.lennysnewsletter.com/subscribe

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Knowledge Project

Podcast Notes Key Takeaways * Check out The Knowledge Project Episode Page & Show Notes

Read the full notes @ podcastnotes.org

This episode is packed with wisdom from previous guests on the art of making better decisions.

We discuss the three types of decision-makers, how to control your emotions when making decisions, why it’s crucial to look at every decision differently, the processes for coming to the right decision, and how to learn from your mistakes when you get it wrong.

The guests on this episode are author Ventakesh Rao (Episode 7), psychologist, author and professional poker player Maria Konnikova (Episode 89), Stripe co-founder Patrick Collison (Episode 32), cognitive-behavioral decision science author and professional poker player Annie Duke (Episode 37), and Shopify co-founder Tobi Lutke (Episode 41). Transcript: https://fs.blog/knowledge-project-podcast-transcripts/tkp-insights-decision-making/ --

Want even more? Members get early access, hand-edited transcripts, member-only episodes, and so much more. Learn more here: https://fs.blog/membership/

Every Sunday, our Brain Food newsletter shares timeless insights and ideas you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/

Follow Shane on Twitter at: https://twitter.com/ShaneAParrish

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HBR IdeaCast ✓

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Podcast Notes Key Takeaways * Megathreats are serious threats that are not only economic and financial, but social, political, environmental, technological, etc., and they are all interconnected * Global public debt to GDP was 100% in the 1970s, 200% in the 2000s, and 350% in 2021; these debt-to-GDP ratios are unsustainable * Public debt builds up because every time there is a problem, we choose to steal growth from the future instead of experience pain in the present * Zombie entities can survive when interest rates are near zero because the cost to service their debt is low; however, it becomes much more difficult to service debt when interest rates must increase to fight inflation * Climate change affects energy prices; criminalizing the use of fossil fuels has led to underinvestment in the fossil fuel industry * The increased investment in the renewable energy industry is not sufficient to compensate for the underinvestment in the fossil fuel industry * The US has weaponized the dollar around the world, which may result in it not being the global reserve currency for much longer * Central banks are in a debt trap: they have to raise interest rates to combat rising inflation, but they cannot raise interest rates too high or for too long without risking an economic and financial crisis because of the all-time high levels of debt * Today, we have the worst of the 1970s and the worst of the post-Great Financial Crisis (GFC) period: debt levels are at all-time highs and there are stagflationary supply shocks * We know that having a tight fiscal and monetary policy is needed to fight inflation, but there is so much debt in the system that central banks will be forced to pivot back to inflationary monetary policies to service the debt * There will be a backlash against the private sector if the government doesn’t provide a sufficient amount of goods and services for those that have been left behind * “Eventually, we need to have another major burst of technological innovation that increases productivity growth in order to start to address these problems in a more cooperative way.” – Nouriel Roubini * Companies, countries, and sovereigns are incentivized to act in their own self-interest, and not necessarily in the self-interest of the rest of the world * “The only way to survive a storm is to build a shield. And the shield has to be collective, rather than individual.” – Nouriel Roubini

Read the full notes @ podcastnotes.org

Nouriel Roubini, professor emeritus at NYU’s Stern School of Business, says that a confluence of trends – from skyrocketing public and private debt and bad monetary policies to demographic shifts and the rise of AI – are pushing the world toward catastrophe. He warns of those interconnected threats, but also has suggestions for how political and business leaders can prepare for and navigate through these challenges. He draws on decades of economic research as well as his experience accurately predicting, advising on, and observing responses to the 2008 global financial crisis, and he's the author of "Megathreats: Ten Dangerous Trends that Imperil our Future, and How to Survive Them.”

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Nudge - Marketing Science Simplified✓Claim

Podcast Notes Key Takeaways * Julius Caesar used costly signaling to win the hearts and minds of his people * Costly signaling describes how the meaning and significance we attach to something is felt in direct proportion to the expense with which it is communicated * Once captured by pirates and held for ransom, Julius Caesar demanded the pirates increase his ransom to be freed, knowing that placing a higher ransom on his head would increase his perceived worth and grow his influence back in Rome * Julius Caesar was willing to do costly things that other generals weren’t willing to do: + Went into massive debt to throw extravagant public parties + Forgoed the acceptance of significant awards + Memorized all of his soldier’s names + Ate the same food his soldiers ate + Slept outside in the freezing cold with his soldiers + Paid his soldiers more than anyone else and got them better armor

Read the full notes @ podcastnotes.org

Julius Caesar is considered by most historians the greatest military commander of all time. You might know of his war strategies, battle tactics, and perhaps his career history. But I bet you don’t know how he convinced a continent’s population to follow him. Or how he made the region’s largest army adore him. In this episode, you’ll learn the leadership tactics that took Julius Caesar to the top. You’ll hear the methods he used to convince and influence others. You’ll discover applicable practices that you can use, and you’ll even hear the real reason why the humble potato is so popular.

Try HubSpot for free: https://hubspot.sjv.io/jWq4k6

How To Take Over The World (Julius Caesar): https://bit.ly/3MPXkC8

My costly signalling experiment: https://i.im.ge/2022/10/21/2Nj6C0.Costly-Signal.png

Listen to episode 63: https://bit.ly/3TnCKeN

Sign up for the Nudge Newsletter: https://www.nudgepodcast.com/mailing-list

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Deep Questions with Cal Newport ✓

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Podcast Notes Key Takeaways * There are two types of ambition: Type 1 ambition and Type 2 ambition + Type 1 ambition craves activity and feasts at the buffet of appealing opportunities that success creates + Type 2 ambition craves simplicity and autonomy, and sees success as a source of leverage to reduce stressful obligations * Know where you fall on the spectrum of type 1 and type 2 ambition so you are better prepared to handle success when it comes * The First Control Trap: trying to get a lot of autonomy in your career before you’ve built up the skills to justify it * The Second Control Trap: after getting enough leverage, skills, and power in your professional marketplace, it is hardest to gain more autonomy because there is a lot of pressure to stay in your position and get a higher salary, more prestige, etc. * Positively approach your manager: frame your request in a way that explains how it will improve the company instead of only explaining how it will make your life better * Having an audience that can directly respond to your work creates a deliberate practice effect that will motivate you to publish your best work * Writing to a private journal may increase your productivity, but there is no feedback function from an audience that cares * How to build community: write, text, or call someone you care about each day; join and contribute to an online community daily; create a daily tradition with a partner * It is optimal to plan how you spend your time on multiple different time scales + Plan concise daily, weekly, and quarterly plans with less detail as the time scale increases * Cal chooses the books he reads for functional reasons (needed for research) and for inspirational reasons (appears to be interesting) * Cal stops drinking coffee after 1:30 PM to prevent the caffeine from affecting his sleep * Advice for young people that want to live a deep life: + Do not get too specific about what profession you want to do too early + Be 10x more intentional about your academic work than everyone you know + Introduce some sort of physical and mental discipline into your life + Expose yourself to bulk, positive randomness and embrace the failed simulation effect + Study character and leadership + Serve people, and make that the throughline to each of your pursuits * Be the person that is weird about not using their phone

Read the full notes @ podcastnotes.org

Get your questions answered by Cal! Here’s the link: bit.ly/3U3sTvo

DEEP DIVE: The Two Types of Ambition [4:36]

• LIVE CALL: Escaping the “Second Control Tap” [28:10]
• Can journaling make me a better writer? [53:26]
• What’s an example of a keystone habit for building community? [56:03]
• Can Cal give an example of a quarterly plan? [1:00:00]

• How does Cal choose what books to read? [1:06:16]

• What’s is Cal’s philosophy on caffeine? [1:15:12]

• How can a teenager prepare to live deeply? [1:20:59]

Thanks to our Sponsors:

givingwhatwecan.org/deep
masterclass.com/deep
eightsleep.com/deep
zocdoc.com/deep

Thanks to Jesse Miller for production, Jay Kerstens for the intro music, and Mark Miles for mastering.

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The Danny Miranda Podcast

Podcast Notes Key Takeaways * All else being equal, the person who knows how to write a good cold email will be exponentially more successful than the person who doesn’t * Networking is not just about getting contact information; it’s figuring out how to help the person you connect with * Spend time with people that give you energy when you are around them * Put yourself in a position where you are excited about what you are doing * Persistence is required for success; you will eventually figure it out if you stay at it long enough * Think of the brand you are creating as a person, and brainstorm where this person would hang out, what platform they would use, who they would interact with online, etc. * Nik believes there will one day be a “Feastables Mafia” like there is a PayPal Mafia today

Read the full notes @ podcastnotes.org

Nik Sharma is a brand builder. He's the creator of Sharma Brands (a marketing agency that's worked with MrBeast and Emma Chamberlain). In this conversation, we spoke about not going to college, how he's used Twitter effectively, the two skills everyone should learn if they're about to graduate college, and how he got in contact with Mark Cuban via cold email.

(0:00) Bob The Builder

(2:16) Nik’s Childhood Teacher

(6:39) Skills To Learn

(9:49) Mark Cuban Email

(13:45) Vibes

(14:40) David Perell Friendship

(16:08) Saving Cousin’s Life

(18:49) Death

(21:11) Building A Brand

(26:55) Working With MrBeast

(33:30) Working With Emma Chamberlain

(37:04) Small Inflection Points

(40:45) Not Going To College

(47:00) Gary Vaynerchuk

(49:55) Scaling Sharma Brands

(53:39) Twitter

(59:20) Challenge

Nik's Links

Twitter: https://twitter.com/mrsharma

Cold Email Thread: https://twitter.com/mrsharma/status/1463205121979002890

My Links

✉️ Newsletter: https://dannymiranda.substack.com

🎙 Podcast: https://anchor.fm/dannymiranda

🎥 YouTube: https://youtube.com/dannymiranda

🐣 Twitter: https://twitter.com/heydannymiranda

📸 Instagram: https://instagram.com/heydannymiranda

🕺 TikTok: https://tiktok.com/@heydannymiranda

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Twenty Minute VC

Podcast Notes Key Takeaways * Check Out the 20VC Episode Page & Show Notes

Read the full notes @ podcastnotes.org

Chris Sacca is the Founder and Chairman @ Lowercase Capital, one of the best performing funds in the history of venture capital with a portfolio including Uber, Stripe, Twitter, Instagram, Twilio, Docker and many more.

• From interviewing some of the world's richest married couples, how did gaining wealth change their relationship and marriage?
• What does Chris do to actively ensure his children remain hungry and know the value of money?

Chamath Palihapitiya is Founder & CEO @ Social Capital. Social’s portfolio includes the likes of Slack, Yammer, Front, Intercom and Carta to name a few.

• What does Chamath mean when he says we need to think through the mindset of "infinite games" not finite games? How does this change how you think about money?
• How does Chamath think about his relationship to risk today as a result?

Brad Gerstner is the Founder and CEO of Altimeter. Brad’s notable deals that he has helped lead include Snowflake, Mongo, Bytedance, Gusto, Unity, Okta, dbt, Modern Treasury, EPIC Games, Hotel Tonight and Zillow.

• What is the most important thing parents can do to ensure that despite wealth, their children remain grounded and ambitious?
• Why does Brad, despite being a billionaire, still live in a modest house and not spend on the excesses of life? How does Brad embrace essentialism with wealth?

Cyan Banister is one of the most successful and renowned early-stage investors in the last decade. Her portfolio includes the likes of SpaceX, Uber, Affirm, Opendoor Postmates, Niantic and Thumbtack to name a few.

• Why did Cyan used to hate money? Why was she "anti-capitalist"?
• How does Cyan approach risk management today? Why does she invest every dollar she makes back into the ecosystem?

George Zachary is a General Partner @ CRV, one of the nation's oldest and most successful early-stage venture capital firms with a portfolio including the likes of Airtable, DoorDash, Dropbox, Niantic and many more.

• What did George learn about how the way people view you changes with your increasing wealth?
• Why does George believe rich people like to hang out with rich people?

Biz Stone is best known as the Co-Founder of Twitter and Medium. Biz is also an investor in the likes of Slack, Square, Intercom, Beyond Meat and Blue Bottle Coffee.

• What does Biz mean when he says, "wealth only serves to amplify the person you are?"

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My First Million

Podcast Notes Key Takeaways * Most people think that luck and risk are outside of their control, but that may not be entirely true * The four types of luck: blind luck, fortune favors the bold, chance favors the prepared mind and the luck that finds you * The four types of risk: mediocrity, safety, eyes-wide-shut, and market-execution-technical risk * Mediocrity is the biggest risk for someone that wants to be great * Instead of only thinking about putting your personal self at risk, think about whether or not you’re putting your dream at risk * Objectively evaluate if your current trajectory is leading you to where you ultimately want to be * People often think starting a company is risky, but the worst thing that can happen is it fails and you learn things along the way

Read the full notes @ podcastnotes.org

Episode #380: Shaan Puri (@shaanvp) talks about the different kinds of luck, how to put yourself in a position to be lucky, and how to mitigate different kinds of risk.

To submit your question and hear yourself on My First Million, go to MFMPod.com and click on the circle with the microphone in the lower right hand corner.

Links:

• Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.

• Want more insights like MFM? Check out Shaan's newsletter.

Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

Additional episodes you might enjoy:

• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits

• #209 Gary Vaynerchuk - Why NFTS Are the Future

• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto

• 169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett

• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates

• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More

• How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

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Artificial Intelligence Podcast

Podcast Notes Intro * If a giant corporation can de-platform the sitting president and “most powerful man in the world,” then he is not the most powerful man in the world, and the Apple, Google, Facebook, Twitter, and Amazon network leaders have become more powerful than the democratically elected leaders * The Future is Our Past Thesis: history is running in reverse, with similar scenarios but it will ultimately yield opposite outcomes * The United States was able to defeat Nazi Germany because it had a giant manufacturing base overseas; it simply out-produced the Nazis + Today, the United States’ manufacturing base is in China, the country it may fight a war with * Don’t be anti-conventional for the sake of being anti-conventional; iterate on conventional wisdom to contribute to progress * The coming decade in America will be green vs orange, not red vs blue; that is, the US dollar and its supporters vs Bitcoin and its supporters * Crypto Capital is an attractive alternative for countries that don’t want to be dominated by US media corporations (Woke Capital) or China (Communist Capital) * Digital property rights enabled by decentralized social media will spark a productivity boost that will mirror China’s switch from communism to capitalism * “The most predictable innovation in the world, in my view, is the AR glasses.” – Balaji Srinivasan * Balaji predicts that the future will consist of much smaller digital networks, but each will be much “deeper” in regards to its tech stack, thus creating a Network State * Instead of dismissing the FDA, Federal Reserve, and Academic Establishment, optimistically think of the v1, v2, v3 of them and build them * The ideal combination of skills that young people should aspire to acquire are those of a full-stack engineer and full-stack influencer * If you’re going to build a billion-dollar company, you should also build a media company in tandem with it that has a million followers because the legacy media companies will not be economically or socially aligned with your business * New states and countries can advance on their own axis; they don’t have to be “with or against” America, as much as politicians want you to believe that

Read the full notes @ podcastnotes.org

Balaji Srinivasan is an angel investor, tech founder, philosopher, and author of The Network State: How to Start a New Country. He was formerly the CTO of Coinbase and General Partner at Andreessen Horowitz. Please support this podcast by checking out our sponsors: – Policygenius: https://www.policygenius.com/ – Blinkist: https://blinkist.com/lex to get 25% off premium – Notion: https://notion.com – Onnit: https://lexfridman.com/onnit to get up to 10% off EPISODE LINKS: Balaji’s Twitter: https://twitter.com/balajis Balaji’s Website: https://balajis.com Books: 1. The Network State: https://thenetworkstate.com 2. Reputation and Power: https://amzn.to/3eyQiF6 3. Exit, Voice, and Loyalty: https://amzn.to/3TpuLNP 4. Seeing Like a State: https://amzn.to/3MJfvcD Articles: 1. Bitcoin

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Nudge - Marketing Science Simplified✓Claim

Podcast Notes Key Takeaways * Jose Mourinho is known for his psychological approach to games, using mind games in press conferences and interviews to undermine his opposition and motivate his team * A mind game is psychologically manipulative behavior intended to discomfort another person or gain an advantage over them * He uses three mind game tactics to improve his team’s chances of success: signaling, reactants, and reframing * Signaling: conveying information, belief, and trust by means of a gesture, an action, or a sound * Reactants: the motivation to regain something after it has been lost, threatened, or taken away from you * Reframing: explaining a situation in a different way to help his players look at a problem from another angle * Using signaling and reactants to influence, persuade, and motivate can work, but not if they’re used endlessly; eventually, they will start to lose their potency or backfire on you * Be sure to match signaling with humility; as the leader, it is vital to take responsibility for bad results * When people are told they cannot do something, the forbidden activity becomes more attractive and alluring to people, i.e. if you tell someone they can’t do something, they are far more motivated to do it * Approaches that work for Jose might not work for you; he is a one-of-a-kind operating in a unique setting

Read the full notes @ podcastnotes.org

Jose Mourinho is one of the world's most successful football managers. He has consistently turned good teams into the world’s best. He’s done so by signing fantastic players, by mastering tactics, but also by using psychological mind games to motivate his players and undermine his opposition.

In this episode, I share interviews with Mourinho to pick apart why he used mind games, what he aimed to achieve, and whether or not they really worked.

Sign up for the Nudge Newsletter: https://www.nudgepodcast.com/mailing-list

Follow me on Twitter: https://twitter.com/p_agnew

Connect with me on LinkedIn: https://bit.ly/3mcmaiZ

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Aarthi and Sriram's Good Time Show ✓

Claim

Podcast Notes Key Takeaways * Virtual Reality (VR) is the final platform because the only step after VR is mind-melding into the Borg; fully-formed VR makes technologies like phones, televisions, and desktop PCs obsolete * Palmer Luckey started a national security company because he thought it was the most important problem that he could work on, and one that his peers were not working on * Big Tech companies were refusing to work with the military because they were beholden to the US’s strategic adversaries * There is a vocal minority in tech who are anti-military, and the tech executives at these companies use this vocal minority as a smoke-screen reason to not do meaningful work with the US military when in reality the executives are just trying to appease China * Most defense companies operate on a cost-plus basis: they are paid for time and materials, and then a fixed percentage of profit on top * Cost-plus contracts warp incentives; defense contractors can make more money by taking longer, designing a more expensive system, and running over on costs because the percentage they make on top is just a percentage of those costs * Anduril uses its own money to build the products it sells to the US military and its allies * Many countries “Stand with Ukraine” and “Reject Russian Violence” while simultaneously giving Russia billions of dollars to fund its war machine in exchange for oil and natural gas + They stand with Ukraine up until the point it inconveniences them * The best time to wave the magic wand to resolve the Russia-Ukraine conflict was years or decades ago * Palmer Luckey believes China is more likely to launch a blockade around Taiwan than a full-scale invasion * The worst-case scenario for the United States is the CCP gains control over Taiwan’s semiconductor industry and only allows semiconductors to be sent to China * Palmer Luckey believes that the next-generation category of power projection technologies (AI, hypersonics, etc.) will make the traditional category (aircraft carriers, Top Gun stuff) obsolete * There is a cultural fetishization of being “the founder”, that is healthy in some ways, but it downplays the importance of other roles at startups like the chief technical officer, lead hardware engineer, etc. * Do not start a technology company if you really love technology and programming

Read the full notes @ podcastnotes.org

In this episode, Aarthi and Sriram talked to Palmer Luckey, the founder of Oculus and now the founder and CEO of Anduril. We talked about Palmer's unique childhood, how he started Oculus and essentially made re-ignited the VR movement, sold to Meta, got fired, and then went on to start another challenging company called Anduril which focuses on building defense technology. We talked about Palmer's recent trip to Ukraine, the current state of the Ukraine/Russia, China/Taiwan and the threat of nuclear war. We also talked about John Carmack, Elon Musk, dealing with haters, working on hard problems and what drives incredibly productive people and his advice for founders.

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CryptoThe Investor's Podcast (TIP)

Podcast Notes Key Takeaways * The creation of new and better technology is the result of trying to solve our problems in a better way * Your brain by itself is a small computer with a limited amount of computing power; linking more and more brains together forms a supercomputer with much more computing power than any single computer, and creates society as we know it + However, linking together requires trust, and a breakdown in that trust corrupts the output of the supercomputer * When a new idea emerges in the free market, the incumbent companies tend to try and defend their monopoly over the old idea instead of trying to adopt the new idea * “Abundance in money creates scarcity in everything else. Scarcity in money creates abundance in everything else.” – Jeff Booth * Money is just information; you don’t actually want more money, you want more of what you believe money buys you * A system using an inflationary monetary policy is based on the lie that inflation is required for a productive society * If 1) money is just information, and 2) money is being manipulated by central banks at an unprecedented rate to avoid a credit collapse of the system, then 3) misinformation must be growing through the system * The productivity gains from technologies competing on the free market should result in humans getting more value, but the value cannot transfer to society in a system that has an inflationary monetary policy * If it’s hard to grasp the changes that the iPhone would elicit, imagine how difficult it is to grasp the changes that a software protocol like Bitcoin will elicit * It’s useless to try and measure the new system with an error code from the old system * DARPA created the internet’s base-layer protocol (TCP/IP) in the 1960s, but it wasn’t until HTTP was created on layer four that connected the stack that created the internet as we know it today * Bitcoin is a base-layer protocol for money the same way TCP/IP is the base-layer protocol for the internet

Read the full notes @ podcastnotes.org

IN THIS EPISODE, YOU’LL LEARN:

• 01:20 - Jeff's first principles overview of energy, money, and resource optimization.
• 12:42 - Why is the adoption of Bitcoin bottom up and not top down?
• 15:41 - A system of growing misinformation and why.
• 25:47 - Why are open protocols so difficult to understand?
• 32:29 - What is the blockchain Trilemma?
• 40:12 - Why is decentralization combined with security for the first time such a big deal?
• 50:46 - Jeff's opinion on why energy must be inserted into money.
• 01:11:28 - What are the important Bitcoin fundamentals to be focusing on right now?
• 01:16:33 - If Jeff had to recommend something to the G20, what would it be?

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

• Jeff's Twitter.
• Ego Death Capital.
• Related Episode: Bitcoin Deep Dive on Energy Misconceptions w/ Michael Saylor - BTC099.
• Related Episode: A Hyper-Bitcoinized World w/ Jeff Booth - BTC052.
• The article from Baseload BTC: Green-Shaming No More.

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• Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.

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SPONSORS

• Invest in high-quality, cash-flowing real estate without all of the hassle with Passive Investing.
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• Build a plan that helps you strengthen your financial security with RBC Wealth Management. RBC capital markets LLC, member NYSE, FINRA, SIPC.
• Throw out the old traditions and get progressive. Discover the complete package - smart design, lots to love under the hood with Genesis.
• Have gold and silver shipped directly to your door for you to hold at your home. Get BullionMax’s Gold Investor Kit today - 3 ounces of the world’s most desirable gold coins, including the Gold American Eagle and Canadian Maple Leaf.
• See the potential of your business. Find solutions that work for you, that tick bigger boxes and help you grow with Square.
• Confidently take control of your online world without worrying about viruses, phishing attacks, ransomware, hacking attempts, and other cybercrimes with Avast One.
• Enjoy a 400-calorie meal that contains 40g of expertly sourced, premium plant protein, all 26 essential vitamins and minerals, and a scientifically calibrated mix of carbs, good fats and fiber with Huel Black Edition. Plus, get a free t-shirt and free shaker with your first order.
• Start printing everything your small business needs and discover the endless printabilities with VistaPrint.
• If your business has five or more employees and managed to survive Covid you could be eligible to receive a payroll tax rebate of up to twenty-six thousand dollars per employee. Find out if your business qualifies with Innovation Refunds.
• Get position and investment info for nearly 6,000 Asset Management Companies with Moomoo, Australia’s first A.I. powered trading platform. Sign up and fund your moomoo account before October 31 and get $10 for every $100 you deposit. All investment carries risk. AFSL 224 663. T&Cs apply.
• Start building a portfolio of alternative farm and timberland assets with AcreTrader.
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Infinite Loops

Podcast Notes Key Takeaways * The majority of companies who have made money on the internet have done so via closed AI; Stability AI is an open source alternative to Big Tech’s closed AI system * Open systems are more robust, resilient, and safe than closed systems which often become brittle, fragile, and centralized * People are not the same around the world; the moral and ethical conversation around AI improves when more people from all around the world can participate * The last generation of AI was patterns-based; the next generation of AI will be principles-based * Combining principles-based AI with patterns-based AI will solve problems that were previously unsolvable * The AI of the future will be too powerful to be controlled by any one company or government; that would be too much power for an unelected company, and governments should not control it either * Giving everyone personalized access to intelligent resources will enable everyone to out-compete the legacy systems and create a better world * Open AI helps shift society’s mindset from scarcity to abundance * It’s important for AI to be open so that countermeasures can be built to prevent corporations and governments from creating the panopticon * A closed, AI-enhanced government would make it impossible for the individual to rise up and change its government * AI is the greatest lever that humanity has ever been given, according to Jim O’Shaughnessy * Artificial intelligence is one of the most powerful technologies that we’ve created because this technology is us and extends us * The bad guys have this tech right now; in order to limit the damage they can do, AI must be made open to benefit most from cognitive diversity

Read the full notes @ podcastnotes.org

Emad Mostaque is the founder and CEO of Stability AI, the company behind Stable Diffusion.

Emad joins Stability AI’s recently announced Executive Chair of the board of directors Jim O’Shaughnessy to discuss the future of AI, the benefits of open source software, and much more.

Important Links:

• Stability AI
• Stable Diffusion Launch Announcement
• Stability AI’s Twitter
• Emad’s Twitter
• Jim’s announcement as Executive Chair

Show Notes:

• The open vs closed AI debate
• How will open AI lead to better outcomes for AI safety?
• How will AI allow us to to solve previously unsolvable problems?
• How AI can transform education
• AI and storytelling
• What is ‘clean’ data?
• Can AI technology increase IQs across the entire world?
• The future: optimism, pessimism, jobs, AI alignment and the panopticon
• Why closed AI is a bad business model
• Anticipating and defending against future problems
• What two ideas would you like to give everyone in the world?

Books Mentioned:

• The WEIRDest People in the World; by Joseph Henrich

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CryptoThe Investor's Podcast (TIP)

Podcast Notes Key Takeaways * Pack animals use a proof-of-power protocol to establish a state of legitimate ownership consensus and chain of custody of their property * As Sapiens evolved, we came up with imaginary alternatives to the physical proof-of-power protocol by appointing people with imaginary power through the creation of abstract power hierarchies * Agrarian society abandoned physical power hierarchies and adopted abstract power hierarchies which granted people of rank resource control authority + Physical power projection to settle disputes over property was morally condemned because it was energy-intensive and often resulted in injury * Throughout history, god-kings have taken advantage of their trust-based, abstract power hierarchies and exploited their domesticated populations to egregious scales * The benefits of using abstract power (efficiency and no physical injuries) tend to break down over time because the rulers must be trusted not to exploit the people they rule * It is easier to exploit people through positions of higher rank (abstract power) than exploiting them through methods of physical power + God kings with abstract power can expand their claim on resource control authority at zero cost, while the pack animal in a proof-of-power hierarchy must exert large amounts of energy and risk high costs to expand its control authority * Abstract power hierarchies are very attractive to parasites, sociopaths, and individuals that want a lot of control and authority over resources because all they need is “rank” * If a god-king has abstract power over machines, and people become increasingly more dependent on those machines, then the god-king’s power extends to power over people too * “People today in cyberspace have levels of abstract power that would make the pharaohs blush.” – Jason Lowery * Proof-of-stake is effectively proof-of-rank: choosing proof-of-stake over proof-of-work forfeits your capacity to project physical power to defend yourself in cyberspace * Proof-of-work secures your access to your property by preserving your ability to impose severe physically-prohibitive costs on anyone that would try to take it from you, deny your access to it, or exploit your rules * Bitcoin is a philosophy about determining the basis for establishing resource control authority and reaching a consensus on the legitimate state of ownership and chain of custody of an underlying piece of property * In a proof-of-stake system, a single entity that controls 60% of all stake can split that stake among millions of validators and then use those validators to tactfully withhold specific transactions from the blockchain + Tactfully withholding transactions = resource control authority * People are different and have different ideological beliefs; it’s unlikely that everyone operating on a proof-of-stake network will agree that the censored chain is bad * Currently, Jamie Dimon is the apex predator in his abstract power hierarchy; as the god-king, he will do whatever he can to maintain his abstract power * Abstract-power-god-kings such as Vitalik Buterin and Jamie Dimon try to get people to pay attention to everything but Bitcoin, a protocol that uses physical cost functions and decentralizes the physical control authority over resources + They cannot have resource control authority over Bitcoin, so they lure you into the abstract power hierarchy that they control * Most crypto projects copy Bitcoin’s software, remove the proof-of-work component of it, and replace it with an “innovation” that does one thing and also grants them resource control over the ledger * Vitalik Buterin does not understand that the physical components of the system is what contributes most to security * We don’t ask meteorologists about the technical merits of cloud computing; just because proof-of-work’s primary use case has the word “coin” in it does not make the United States Treasury Department or the Federal Reserve qualified to talk about the technical merits of proof-of-work * If Bitcoin is a power projection technology and a new way for people to defend themselves, or particularly their property, then the United States must take it extremely serious from a national strategic standpoint * “My recommendation to any policy maker that might be listening to this: the last people you should be listening to are bankers and financiers about power projection technology.” – Jason Lowery * Just like humans use watts to project physical power in the domains of land, air, sea, and space, humans will use watts to project physical power in cyberspace via proof-of-work to make the cost of attacking them as high as possible

Read the full notes @ podcastnotes.org

IN THIS EPISODE, YOU’LL LEARN:

• 01:58 - Why are property rights an important starting point for understanding the differences between Proof of Work (PoW) and Proof of Stake (PoS)?
• 07:41 - What is Abstract Power versus Physical Power and why are they important for understanding PoS Vs PoW?
• 20:45 - Why do the rules around property rights keep breaking down throughout time?
• 40:45 - Explain the importance of basic computer science and how computer programs work so we can understand the differences in PoS and PoW.
• 49:50 - A general introduction to PoS and PoW.
• 57:25 - Hal Finney and Adam Back’s contributions to developing the first blockchain.
• 01:15:15 - If you were going to exploit a PoS or PoW system, how would that work?
• 01:23:08 - Creative destruction and how it applies to protocols.
• 01:31:59 - Jason’s thoughts on Jamie Dimon liking everything but PoW.
• 01:38:15 - Vitalik Buterin’s comments on PoS not being tethered to physical reality.
• 01:42:17 - How has the faculty at MIT responds to your research?
• 01:58:30 - If you had a message to policy makers, what would it be?

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

• Jason Lowery'sTwitter
• Jason Lowery’s website and writings on Bitcoin.

NEW TO THE SHOW?

• Check out our We Study Billionaires Starter Packs.
• Browse through all our episodes (complete with transcripts)here.
• Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
• Enjoy exclusive perks from our favorite Apps and Services.

P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!

SPONSORS

• Start building a portfolio of alternative farm and timberland assets with AcreTrader.
• Invest in high-quality, cash-flowing real estate without all of the hassle with Passive Investing.
• Help protect your family’s financial future withTD Term Life Insurance.
• Help empower girls to break free through education, healthcare, child protection, and other wonderful benefits by being a World Vision child sponsor today.
• Private assets represent 98% of companies in North America but are absent in most portfolios. Reconstruct your portfolio with private markets with Mackenzie Investments.
• Build a plan that helps you strengthen your financial security with RBC Wealth Management. RBC capital markets LLC, member NYSE, FINRA, SIPC.
• Send, spend, and receive money around the world easily with Wise.
• Throw out the old traditions and get progressive. Discover the complete package – smart design, lots to love under the hood with Genesis.
• Have gold and silver shipped directly to your door for you to hold at your home. Get BullionMax’s Gold Investor Kit today – 3 ounces of the world’s most desirable gold coins, including the Gold American Eagle and Canadian Maple Leaf.
• See the potential of your business. Find solutions that work for you, that tick bigger boxes and help you grow with Square.
• Take a position daily on potential price movements, and gain exposure while limiting risk with Interactive Brokers.
• Get position and investment info for nearly 6,000 Asset Management Companies with Moomoo, Australia’s first A.I. powered trading platform. Sign up and fund your moomoo account before October 31 and get $10 for every $100 you deposit. All investment carries risk. AFSL 224 663. T&Cs apply.
• Confidently take control of your online world without worrying about viruses, phishing attacks, ransomware, hacking attempts, and other cybercrimes with Avast One.
• Enjoy a 400-calorie meal that contains 40g of expertly sourced, premium plant protein, all 26 essential vitamins and minerals, and a scientifically calibrated mix of carbs, good fats and fiber with Huel Black Edition. Plus, get a free t-shirt and free shaker with your first order.
• Start printing everything your small business needs and discover the endless printabilities with VistaPrint.
• Whether you’re exploring ways to manage volatility, seeking income and diversification opportunities, or looking for tax management strategies- Invesco has over 200 ETFs to help you meet your financial goals. Visit invesco.com for a prospectus with this information.
• If your business has five or more employees and managed to survive Covid you could be eligible to receive a payroll tax rebate of up to twenty-six thousand dollars per employee. Find out if your business qualifies with Innovation Refunds.
• If you’re aware you need to improve your bitcoin security but have been putting it off, Unchained Capital‘s Concierge Onboarding is a simple way to get started—sooner rather than later. Book your onboarding today and at checkout, get $50 off with the promo code FUNDAMENTALS.
• Support our free podcast by supporting our sponsors.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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LABOSSIERE PODCAST ✓

Claimed

Podcast Notes Key Takeaways * The long-term legacy of your contribution to society is bounded to the fate of the society you are in * Figuring out why societies fail will help humans take measures to mitigate such failures and allow human contributions to compound over generations * Even though everyone wants their society to succeed, their individual incentives might encourage them to work against other members of the same society * Human history is a stuttering arc of progress where civilizations rise, achieve some sort of peak, and ultimately fail, and then another civilization picks up the remnants and start again * Providing a useful information inheritance is the best thing we can do for future generations * An immortal society is a boundless society where almost all human effort can compound and accumulate over time * Societies that celebrate their most successful outliers will generate people who are capable of solving their hardest problems * The collapse of civilization includes a massive decline in population, material wealth, and human knowledge * Societies that undergo stagnation and forgo growth have a compounding risk of collapse over time * The Great Founder Theory: a small, exceptional group of people are ultimately responsible for the creation of new institutions that drive growth and innovation across a society * A great founder must operate within a social reality so he is not disconnected from society, but also be differentiated enough so that is not just like everyone else * On live versus dead players: A live player is a person or well-coordinated group of people that is able to do things they have not done before, whereas a dead player operates off of a script and is incapable of doing new things * The ability to successfully jump career tracks is evidence of being a live player + Examples include Arnold Schwarzenegger and Elon Musk * People are not paying enough attention to our aging population; an old population is less capable of dealing with the changes demanded by technology

Read the full notes @ podcastnotes.org

Samo Burja is the founder of Bismarck Analysis, a consulting firm that investigates the political and institutional landscape of society. He’s also a Research Fellow at the Long Now Foundation where he studies how institutions can endure for centuries and millennia.

Samo is also Senior Research Fellow in Political Science at the Foresight Institute, where he advises how institutions can shape the future of technology.

He writes and speaks on history, institutions, and strategy with a focus on exceptional leaders that create new social and political forms. He’s systematized this approach as “Great Founder Theory.”

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James Altucher Show

After the unexpected and untimely passing of Coolio, we have decided to re-air this early episode of the podcast.

From the original release notes:

"Grammy Award-winning and multi-platinum artist Coolio joins The James Altucher Show to share his story of success. With more than 30 million records sold globally, Coolio gives a side to his story that most people don’t know.

Teacher? Psychologist? Author? There are many surprising career paths that Coolio he had interests in pursuing.

You’ll hear how his love of music and his ability to understand and connect with people enabled him to create hip-hop poetry unlike anyone else.

Something that most people don’t realize is that one of Coolio’s biggest hits, “Gangsta’s Paradise,” caused him some career conflicts, and here you get all the details.

What is truly inspiring is his passion for life and his ability to choose himself. From a rough childhood and being bullied to creating his career from scratch, you get the exclusive details from Coolio himself.

He is living proof that believing in yourself is a skill, one that everyone can master if they put their mind to it."

Visit Notepd.com to read our idea lists & sign up to create your own!

My new book Skip the Line is out! Make sure you get a copy wherever books are sold!

Join the You Should Run for President 2.0 Facebook Group, where we discuss why you should run for President.

I write about all my podcasts! Check out the full post and learn what I learned at jamesaltucher.com/podcast.

Thank you so much for listening! If you like this episode, please rate, review, and subscribe to “The James Altucher Show” wherever you get your podcasts:

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All-In with Chamath, Jason, Sacks & Friedberg

Podcast Notes Key Takeaways * It’s an end of an era for Big Tech: they’re transitioning from a phase of unfettered growth into their next phase where they must learn to operate like a cash-cow business * When the growth engines of Apple and Google slow, other tech companies don’t have to offer competitive compensation, extra benefits, and extravagant workplace environments to compete for talent as they once did * “Nobody is talking about a soft landing anymore. In fact, I think we’re all wondering who is flying the plane.” – David Sacks on the Federal Reserve * Financial markets have always had a “Fed Put”, which is a level of pain that is reached that forces the Federal Reserve to step into the market and be a buyer of last resort * “The investments that one makes in this period will probably be the best for many many years to come because they’ll have the most asymmetric upside.” – Chamath Palihapitiya * The Federal Reserve, in conjunction with the last two administrations, printed $10 trillion over the last couple of years which has caused inflation to soar * There is $300T of global debt; if interest rates increase from 0% to 5%, that’s an increase of $15T in annual debt service, which is 18% of global GDP + Chamath sympathizes with Friedberg’s concerns over global debt but thinks perpetual bailouts will continue to negate the consequences of rising debt levels * The rate-setting process should leverage more of today’s technology; humans setting the rate in quarter-percent increments every couple of weeks seems archaic to Friedberg * “If you have these irrational central bankers that are willing to constantly bail people out, you will never get a high-functioning government because the policy is irrelevant.”– Chamath Palihapitiya * Europe slept-walked its way into WWI in 1914, which is something David Sacks thinks the United States could be doing today * David’s primary gripe inShould America Go All In On Ukraine is the U.S. media’s narrative that “Putin is bluffing”; we cannot know that he is definitely bluffing, and the stakes of being wrong are too high * Wealthy and powerful people in the U.S. might begin to put political pressure on their representatives to resolve the Russia-Ukraine issue because of the strain the conflict has placed on the markets and their portfolios * “I think that the markets would have reacted much much more negatively to a nuclear incident three months ago than now, and may not even react as much as we think it would three months from now.” – Chamath Palihapitiya on Sept. 30, 2022

Read the full notes @ podcastnotes.org

0:00 Bestie intros!

1:36 Big tech starts making cuts, plus what this means for the broader economy and startups

31:09 Global debt numbers, Fed incompetency

54:06 RIP Coolio

1:00:30 Russia / Ukraine update

Follow the besties:

https://twitter.com/chamath

https://linktr.ee/calacanis

https://twitter.com/DavidSacks

https://twitter.com/friedberg

Follow the pod:

https://twitter.com/theallinpod

https://linktr.ee/allinpodcast

Intro Music Credit:

https://rb.gy/tppkzl

https://twitter.com/yung_spielburg

Intro Video Credit:

https://twitter.com/TheZachEffect

Referenced in the show:

https://www.bloomberg.com/news/articles/2022-09-29/meta-announces-hiring-freeze-warns-employees-of-restructuring

https://www.google.com/finance/quote/META:NASDAQ

https://www.google.com/finance/quote/AAPL:NASDAQ

https://www.google.com/finance/quote/GOOG:NASDAQ

https://www.cnbc.com/2022/09/28/stanley-druckenmiller-sees-hard-landing-in-2023-with-a-possible-deeper-recession-than-many-expect.html

https://www.google.com/finance/quote/NFLX:NASDAQ

https://www.mckinsey.com/capabilities/mckinsey-digital/our-insights/if-youre-going-to-build-something-from-scratch-this-might-be-as-good-a-time-as-in-a-decade

https://www.forbes.com/sites/jonathanponciano/2021/05/11/billionaire-investor-druckenmiller-blasts-feds-radical-stimulus-policy-warns-it-risks-stock-bubble-blowing-up

https://www.cnbc.com/2022/09/28/cnbc-transcript-duquesne-family-office-chairman-ceo-stanley-druckenmiller-speaks-with-cnbcs-joe-kernen-live-during-the-cnbc-delivering-alpha-conference-today.html

https://www.xe.com/currencycharts/?from=GBP&to=USD&view=1M

https://www.bls.gov/charts/job-openings-and-labor-turnover/unemp-per-job-opening.htm

https://fred.stlouisfed.org/series/JTSJOL

https://www.wsj.com/articles/a-nation-of-quitters-great-enabling-exodus-working-age-men-parents-stimulus-covid-quit-retirement-bohemian-videogame-11664112795

https://goop.com/subscribe

https://www.reuters.com/world/putin-host-kremlin-ceremony-annexing-parts-ukraine-2022-09-29

https://www.reuters.com/world/europe/zelenskiy-says-ukraine-applying-nato-membership-2022-09-30

https://www.reuters.com/world/europe/qa-nord-stream-gas-sabotage-whos-being-blamed-why-2022-09-30

https://www.aa.com.tr/en/economy/former-polish-foreign-minister-thanks-us-for-damaging-nord-stream-pipeline/2696530

https://www.theamericanconservative.com/should-america-go-all-in-on-ukraine

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Econtalk

Podcast Notes Key Takeaways * Effective altruism involves billionaires creating various institutions to give away their money to charity in a manner they deem effective * Due to the core of the movement being utilitarian, the effective altruism movement ends up having many repugnant and strange conclusions * “Maximizing the most good for the most number of people” can lead to repugnant conclusions when applied at-scale * Changing the scale of these simple thought experiments adds complexities that completely change the calculus of the scenario + Not only should you not have the birthday party for your son, but you’re morally obligated to spend less time with your son so you can work more and send more money to help solve the malaria crisis in Africa * The repugnant conclusion of never-ending well-being arbitrage: everyone ends up with a life that is just barely above the subsistence level + Effective altruism wants to arbitrage all the extra happiness away and fairly distribute it amongst the global population * Trading instances of good and evil is not fungible in the way that utilitarians want it to be * The effective altruism movement is an attempt to formulate morality from the top-down, which is antithetical to how morals have emerged since the dawn of humanity * Utilitarianism treats good and evil as big mounds of dirt of varying sizes; Theoretically following the logic of utility, if enough people stub their toe over time, its respective pile of dirt could become larger than the pain-caused-from-WW2 pile of dirt * Economists often neglect qualitative components when forming policy and only account for the quantitative when making moral equivalencies, which results in bad policy * Charity is good; there are aspects of the effective altruism movement that are good, but the mandate to maximize it at scale deserves to be questioned and investigated

Read the full notes @ podcastnotes.org

Neuroscientist Erik Hoel talks about why he is not an "effective altruist" with EconTalk host, Russ Roberts. Hoel argues that the utilitarianism that underlies effective altruism--a movement co-founded by Will MacAskill and Peter Singer--is a poison that inevitably leads to repugnant conclusions and thereby weakens the case for the strongest claims made by effective altruists.

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My First Million

Podcast Notes Key Takeaways * “You can learn good lessons from bad people.” – Sam Parr * Throw away your shame and embarrassment, fully commit to the bit, and you’re going to be really successful * Hitler, Napoleon, Caesar, and Jeff Bezos all took tons of resources and focused them on a very small point + This was Blitzkrieg for the Nazis and is Blitzscaling for the business world * Most successful people have addictive personalities; they are addicted to something, it just so happens that it is something positive * Highly successful people are likely born with a propensity to addiction * People born with a propensity to addiction could end up conquering a vast European empire or could get hooked on drugs and end up a junkie on the streets * Times of turmoil call for leaders who are mentally ill, whereas times of stability call for non-mentally ill leaders, according to author Nassir Ghaemi * Truly charismatic people make the people they interact with feel special * Many of the great dictators and CEOs were great orators; great orating starts with great writing * It’s tempting to obsess over planning and preparing when a bias towards measurable action oftentimes results in more success * Over planning is self-masturbation and a bullshit way to convince yourself that you’re actually doing something when instead you should just start and figure it out along the way * “It’s way better to execute a bad plan than to execute no plan.” – Sam Parr + Rookies should start their business today, generate $1 in revenue in the first five days, and get addicted to hearing the “cha-ching” sound from their Shopify store * In business, you don’t always need to know the math behind things, or why certain things work and certain things don’t; you just need to try stuff until you find out what works

Read the full notes @ podcastnotes.org

Episode 369: Sam Parr (@TheSamParr) and Producer Ben (@BenWilsonTweets) take a turn with One Question Friday... instead of a question they discuss traits of conquerors from yesterday and today.

Links:

• My First Million

• How To Take Over The World

• Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.

• Want more insights like MFM? Check out Shaan's newsletter.

Show Notes:

(02:25) - lessons from Hitler

(10:45) - lessons from Edison

(10:25) - addictive personalities

(18:10) - charismatic people

(26:25) - bias to action

Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

Additional episodes you might enjoy:

• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits

• #209 Gary Vaynerchuk - Why NFTS Are the Future

• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto

• 169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett

• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates

• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More

• How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

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The Rational Reminder Podcast ✓

Claim

Podcast Notes Takeaways * Here is a summary breakdown of expected returns for alternative asset classes:

Read the full notes @ podcastnotes.org

The type of assets which usually come to mind when considering investments are stocks, bonds, or cash, but what are the alternatives? And what kind of returns do alternative asset classes offer? In today’s episode, we delve into the returns which can be expected from alternative asset classes such as private equity, venture capital, angel investing, private credit, hedge funds, direct real estate, and cryptocurrencies. Hear an in-depth analysis based on empirical studies and the expertise of your hosts, Ben and Cameron, to discover whether there is any merit to alternative asset classes as investments. We unpack the extra layer of complexity associated with predicting returns on alternative assets, how to approach calculating returns, and why the associated fees are an essential consideration. We also hear details about an interesting conference Cameron recently attended and briefly recap cryptocurrencies as an investment. You’ll also hear our conversation with our 22 in 22 reading challenge guest David Senra about his reading habits, the books that most inspire him, and his advice for people who want to read more.

Key Points From This Episode:

• Outline of today’s main topic: expected returns for alternative asset classes. (0:01:51)
• Why predicting returns of alternative asset classes has an extra layer of complexity. (0:03:18)
• How to approach estimating the returns of private equity, specifically buyouts. (0:05:04)
• We unpack historical data regarding the returns of private equity. (0:07:35)
• Calculating the returns on venture capital and reasons to be cautious about it as an asset class. (0:16:35)
• The distribution of returns from venture capital based on the market numbers. (0:20:09)
• Learn what angel investing is and its associated returns. (0:20:54)
• What returns on angel investing are most dependent on and why. (0:22:21)
• The different types and the associated returns. (0:25:23)
• Hear about the fees associated with private credit. (0:27:42)
• We unravel the concept of hedge funds, the associated fees, and expected returns. (0:29:29)
• A limiting factor on hedge funds: capacity constraints. (0:33:38)
• The takeaway regarding private real estate investments. (0:36:25)
• How private real estate is valued as an asset class. (0:37:48)
• Cryptocurrencies and the returns to be expected. (0:39:34)
• We discuss some of the key takeaways from today’s main topic. (0:43:30)
• We follow up on a previous topic we covered: financial literacy. (0:45:10)
• Find out about an interesting conference that Cameron recently attended. (0:48:46)
• Hear about the recent reviews we have received about the podcast. (0:57:58)
• We introduce our 22 and 22 reading challenge guest, David Senra. (01:00:15)
• Where David’s passion for reading about founders originates from. (01:02:25)
• David shares details about his reading habits. (01:05:57)
• His approach to finding founders that he wants to read about. (01:08:49)
• David’s approach to note taking while reading a book. (01:11:07)
• We learn about the stories that have impacted David the most. (01:13:53)
• He explains the benefits of reading a book for a second time. (01:17:11)
• Books about founders that he thinks everyone should read. (01:19:20)
• David’s observation of the role of luck in a founder’s success story. (01:23:19)
• Advice he has for people who want to read more. (01:29:33)

Links From Today’s Episode:

AQR Capital Management — https://www.aqr.com/

BlackRock Asset Management — https://www.blackrock.com

Bank of America — https://www.bankofamerica.com/

‘The risk and return of venture capital’ — https://www.sciencedirect.com/science/article/pii/S0304405X04001564

‘Performance of Private Credit Funds: A First Look' — https://jai.pm-research.com/content/21/2/31.short

‘Do Hedge Funds Hedge?’ — https://jpm.pm-research.com/content/28/1/6.short

‘The Performance of Hedge Fund Performance Fees’ — https://www.nber.org/papers/w27454

‘Higher risk, lower returns: What hedge fund investors really earn’ — https://www.sciencedirect.com/science/article/abs/pii/S0304405X1100016X

‘Another Look at Private Real Estate Returns by Strategy’ — https://jpm.pm-research.com/content/45/7/95/tab-pdf-trialist

'The Characteristics and Portfolio Behavior of Bitcoin Investors: Evidence from Indirect Cryptocurrency Investments' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3501549

‘Beliefs and the Disposition Effect’ — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3516567

‘Once Bitten, Twice Shy: The Power of Personal Experiences in Risk Taking’ — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2506627

S&P Global FinLit Survey — https://gflec.org/initiatives/sp-global-finlit-survey/

Future Proof Conference — https://futureproof.advisorcircle.com/

Invest Like the Best Podcast — https://investlikethebest.libsyn.com/

David Senra on LinkedIn — https://www.linkedin.com/in/david-senra-278843236/

David Senra on Twitter — https://twitter.com/FoundersPodcast?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

David Senra on Facebook — https://www.facebook.com/david.senra.1

The Founders Podcast — https://founders.simplecast.com/

A Triumph of Genius — https://www.amazon.com/Triumph-Genius-Edwin-Polaroid-Patent/dp/1627227695

Cable Cowboy — https://www.amazon.com/Cable-Cowboy-Malone-Modern-Business/

Titan — https://www.amazon.com/Rare-Chernow-Titan-Life-Rockefeller/

A Man for All Markets — https://www.amazon.com/Man-All-Markets-Street-Dealer/

Against the Odds — https://www.amazon.com/Against-Odds/

Estee: A Success Story — https://www.amazon.com/Estee-Success-Story-Lauder/

Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582.
Rational Reminder Website — https://rationalreminder.ca/

Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/?hl=en

Rational Reminder on YouTube — https://www.youtube.com/channel/
Ben Felix — https://www.pwlcapital.com/author/benjamin-felix/

Ben on Twitter — https://twitter.com/benjaminwfelix

Ben on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/

Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/

Cameron on Twitter — https://twitter.com/CameronPassmore

Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/

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Knowledge Project

Podcast Notes Key Takeaways * When scaling a company: “You have to be constantly evolving your learning pattern. What got you here, won’t get you there.”– Reid Hoffman + Examples: how you organize your management (work vs management duties in each role), go-to-market strategy (how to get new sales), adjusting the cadence of hiring (promoting from within vs outside org) + This applies to our lives too, not just business! * Want to be a better leader?“Root for better angels on people”– Shane Parrish quoting Reid Hoffman + Make everyone the hero of their own story—people often don’t realize their own potential to make the world a better place * It’s timely and costly not to have a process for making fast decisions, here’s how to improve (continue reading for more detailed instructions): + Be an explicit leaner + Learn your set of decision-guiding questions + Identify irreversible consequences * You should never try to optimize opportunity cost to be 100% efficient + Some of your decisions will seem like an opportunity cost upfront but turn out to be one of your most valuable experiences + You must leave yourself some room for exploration and serendipity

Read the full notes @ podcastnotes.org

Few figures have shaped the way we think about business over the past 20 years more than Reid Hoffman. The co-founder of LinkedIn and former PayPal executive is also a wildly successful venture capitalist, author and podcaster, but he didn’t get to his place as a Silicon Valley giant without making plenty of crucial decisions. On this episode Hoffman discusses lessons learned from decades spent as a hands-on operator and investor, including what he knows about scaling that others miss, the three principles of decision making, how to constantly evolve your learning pattern, and why the best leaders adapt to the crisis at hand.

Hoffman is perhaps best known for co-founding the professional networking site LinkedIn, which he started in 2003 and later sold for a reported $26.2 billion to Microsoft in 2016. Prior to founding LinkedIn, Hoffman was one of the first employees at PayPal, where he served as an executive vice president. He is also a partner at the venture capital firm Greylock Partners, an investor in Airbnb, the author of a series of successful business books including Masters of Scale, and the host of the podcast of the same name.

Want to hear the entire episode with Reid Hoffman? Become a member today! Members get early access, hand-edited transcripts, member-only episodes, and so much more.

Learn more here: https://fs.blog/membership/

Every Sunday our Brain Food newsletter shares timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/

Follow Shane on Twitter at: https://twitter.com/ShaneAParrish

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Pod of Jake

Podcast Notes Takeaways * Brian Armstrong felt like a failure when he was 28: all of his friends were making good money and had careers, and he was a failed entrepreneur * All of his “failures” contributed to his eventual successes when looking back with hindsight, but at the moment they only feel like failures * A heuristic for entrepreneurs unsure what to do: work on something that is the most interesting and most awesome thing to you * Technology is one of the greatest levers to improve the world, which includes money as a technology * Bitcoin is a technology that can inject economic freedom into countries all over the world * “Everything in business comes back to hiring great people.” – Brian Armstrong * Coinbase has taken a philosophy from Amazon.com called “Disagree and Commit”: even if you disagree with a decision that has been made, you must still work really hard to make it a success * Brian Armstrong borrowed the 70/20/10 resource allocation strategy from Google: spend 70% of resources on the core business, 20% on adjacent bets, and 10% on venture bets * Trying to change the world with policy and government intervention is inefficient and tends to create unintended consequences; it is better to change the world with science and technology * Asking the mainstream media to objectively cover the tech industry is like asking Pepsi for a fair review of Coca Cola * “The business section of the New York Times is basically an anti-business section.” – Brian Armstrong

Read the full notes @ podcastnotes.org

Brian is the Co-founder and CEO of Coinbase, a leading cryptocurrency company on a mission to increase economic freedom in the world. He is also a Co-founder of NewLimit, a biotechnology company working to radically extend human healthspan, and ResearchHub, which is aiming to accelerate the pace of scientific research. In 2018, Brian launched a nonprofit called GiveCrypto.org and signed the Giving Pledge, committing to give the majority of his wealth to charitable causes throughout his lifetime. Follow Brian on Twitter @brian_armstrong.

[2:18] - Brian's origin story

[9:33] - Reflections on his early career and how it prepared him to start Coinbase

[16:02] - Coinbase’s mission to increase economic freedom in the world, and why economic freedom is important

[23:34] - The challenges of building through crypto's hype cycles and scaling Coinbase at a rapid pace

[31:08] - An introduction to The RAPID Decision-Making Framework

[35:36] - How years of experience with remote employees helped Coinbase become a remote-first company

[45:24] - Repeatable innovation and the rationale for Coinbase’s 70/20/10 strategy for resource allocation

[54:34] - Coinbase’s contrarian decision to work with regulators from the beginning, and how it is increasingly leaning in on decentralization

[1:03:38] - Extending the human healthspan, an overview of NewLimit, and epigenetic reprogramming

[1:15:25] - Prioritizing "new media" over mainstream media

[1:21:12] - How ResearchHub can enable more open science and help build a bridge from scientific research to commercial products

Support the show by checking out my sponsors:

Join Levels and get personalized insights to learn about your metabolic health. Go to https://levels.link/jake.

https://homeofjake.com

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My First Million

Podcast Notes Intro * Sam Parr (@thesamparr) is an American businessman and podcaster co-hosting the My First Million podcast. He is best known for founding The Hustle Media Production company and selling it to HubSpot for an estimated $27 million. * Shaan Puri (@ShaanVP) is an entrepreneur, investor, and co-host of the My First Million podcast. He shares insights and frameworks on his website and newsletter, which has +30K subscribers. * In this conversation, Sam and Shaan field six pitches from founders trying to raise capital for their respective startups. This is My First Million meets Shark Tank! * Check out these Podcast Notes from Sam and Shaan’s conversation with the guy that bought Sam’s company

Read the full notes @ podcastnotes.org

Episode 356: Shaan Puri (@ShaanVP) and Sam Parr (@TheSamParr) with the help of Stonks.com , listen to six entrepreneurs pitch their business in hopes of getting Shaan and Sam to invest.

• To watch this podcast, head over to our YouTube channel: https://youtu.be/OKI1X1qFgwg

Links:

• Cherry

• Pillup

• Campus Ink

• Terrashroom

• Dealbuilder

• Field Complete

• Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.

• Want more insights like MFM? Check out Shaan's newsletter.

Show Notes:

(05:35) - Luke @ Cherry

(17:40) - Ankur @ Pillup

(30:05) - Steven @ Campus Ink

(42:45) - Jared @ Terrashroom

(54:10) - Morgan @ Dealbuilder

(01:04:05) - Tim @ Field Complete

Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

Additional episodes you might enjoy:

• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits

• #209 Gary Vaynerchuk - Why NFTS Are the Future

• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto

• 169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett

• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates

• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More

• How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

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Mark Pesce - The Next Billion Seconds ✓

Claimed

Podcast Notes Key Takeaways * The United States does not have a great history of exporting things to countries before conflicts happen * “The big defense primes are not in the position to build the right things, partly because the government has created the wrong incentives for them to do so.” – Palmer Luckey * “The point of high-end defense technology is not to win a war that has already started; it’s to deter that war from happening, to make the cost of engaging in that war so high that it never happens.” – Palmer Luckey * “The real reason that these tech companies were not doing work with the United States military, or foreign allied militaries, was that they were afraid of upsetting China.” – Palmer Luckey * Until Anduril became the third unicorn in 2019, there were only two unicorns in the defense industry since the Cold War: Palantir and SpaceX * It took billionaire-founders with previous success starting companies for venture capitalists to invest in the defense industry * Russia’s invasion of Ukraine forced many venture capitalists to reconsider their assumptions about investing in defense tech * Some countries are willing to do irrational things that disrupt their economic relationships with other countries; irrational wars and conflicts are prevalent throughout history * “I think the odds of a direct, hot war between the U.S and China are very very low. I think the odds of a proxy conflict over minerals in South America, South Africa, or Southeast Asia are quite high.” – Palmer Luckey * Anduril is the answer to the question: “What would a next-generation Lockheed Martin look like?” * Without giving away Anduril’s entire roadmap, the future of defense will have a lot of autonomous things across air, land, sea, subsea, and space all working together * Palmer is more concerned about evil people using very basic AI than extremely advanced AI taking over the world in a Skynet scenario * The U.S. must be involved in the technology (nuclear, autonomous weapons, etc.) if it wants to lead and potentially regulate how those technologies are used in the rest of the world * “I want to save taxpayers hundreds of billions of dollars a year while we [Anduril] make tens of billions of dollars a year.” – Palmer Luckey

Read the full notes @ podcastnotes.org

In this live interview with Oculus and Anduril founder Palmer Luckey - joined by Anduril Chief Engineer Shane Arnott - we look at the future of defense, geopolitics, and Australia's future in a transformed Indo-Pacific region. Have we shifted toward a defense-driven future? For more information about this and all our other Next Billion Seconds content, please check out https://nextbillionseconds.com

Mark Pesce - The Next Billion Seconds is produced by Ampel - visit https://ampel.com.au to find out what Ampel could do for you! If you are interested in sponsoring The Next Billion Seconds podcast, reach out to our Director of Media and Partnerships Lauren Deighton at lauren@ampel.com.au If you enjoyed this show, please leave a rating and/or review on Apple, Spotify or any other podcast platform.

See omnystudio.com/listener for privacy information.

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Pomp Podcast

Podcast Notes Key Takeaways * A balanced life has its advantages, but you can’t get exceptionality if you prioritize balance above all else * Crackheads that get clean often replace their addiction to crack with something else; channeling their addictive personality towards something productive is life-changing * Most people choose the more comfortable option of “doubling down on their own world” instead of venturing into worlds that are foreign to them * People around you will forgive you – probably more than they should – when you commit to improving your life and are serious about it over a long period of time * People from all walks of life can have extremely similar experiences, and yet they appear to be different based on surface-level interpretations of those experiences, language used to describe them, etc. + Synthesizing insights from two different perspectives is not 1+1=2, but 1+1=7 * “There is someone out there with half your IQ, that is accomplishing 10x what you are because they’re not smart enough to doubt themself.” – Ed Latimore * The people that get far are the ones that embrace what scares them * The sum of the world’s knowledge is at your fingertips; you just need to learn the skill of asking the right questions * Immense innovation tends to happen on compressed timelines, and then large amounts of time can pass before the next rapid period of innovation ensues

Read the full notes @ podcastnotes.org

Ed Latimore is a former heavyweight boxer, best-selling author, and chess enthusiast.

In this conversation, we discuss the crackhead work theory, Ed's recovery from alcohol addiction, why the world has gone so crazy, critical thinking, and narrative violations in recent years.

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School of Greatness

Podcast Notes Key Takeaways * Check out The School of Greatness Episode Page & Show Notes

Read the full notes @ podcastnotes.org

Alex Hormozi is a first generation Iranian-American entrepreneur, investor, and philanthropist. In 2013, he started his first brick & mortar business, successfully scaling his business to six locations in three years. From there, he spent two years turning 32+ brick & mortar businesses around using the same model that made his privately owned locations successful. In total, He has scaled and exited 7 companies. His most notable exit was his majority sale of his licensing company for $46.2M in 2021. Concurrently in 2020, he transitioned from CEO to the owner/shareholder position in these companies and founded Acquisition.com as a way to invest his own wealth (both monetary and intellectual capital) into other businesses.

Buy his book: $100M Offers: How To Make Offers So Good People Feel Stupid Saying No

In this episode, you will learn:

• The single most significant differentiator of rich and poor
• How to sell someone who has no reason to sign up and enroll them in your purpose
• The importance of respect in a healthy marriage
• The main mistake most people make with sales

For more, go to: lewishowes.com/1296

Alex's previous episode:https://link.chtbl.com/1278-pod

The Biggest Lies You've Been Told About Money, Debt & Building Wealth w/ Jaspreet Singh (Minority Mindset): https://link.chtbl.com/1257-pod

Scooter Braun On Healing Past Trauma, Building A Business Empire & Finding Peace: https://link.chtbl.com/1244-pod

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Modern Wisdom

Podcast Notes Key Takeaways * Have a vector that orients your time, attention, and energy towards achieving your goal, and allow for subroutines to develop off of that vector that get you closer to your goal * Design an information diet like you would design your diet with food: this information is good, this information is bad, don’t consume this type of information, only consume this type of media during this specific time of day, etc. * Failing restaurants add sugar to their meals as a last-ditch effort to attract patrons back to their restaurant, and the legacy media does the same with information * Twitter is the public war zone; it is the new parliament where ideas are shared and challenged, and it’s actually upstream of governments + You can learn a lot from Twitter by following interesting people and accounts, but it is easy to overdose on the serendipity of it * “What thesmartest people do on the weekends is what everyone else will do during the week in 10 years.” – Chris Dixon * Technologies that Balaji is interested in today: digital nomadism, a “full crypto life”, AI content creation, and synthesis search engines * Wars fought today will not look like wars fought in the past; they will include terrorism, social media memes, hacks, de-platforming, assassination, and more + The new form of war is better because it’s less destructive to property, but it’s worse because the battlefield is everywhere and nowhere * America’s conflict won’t be blue vs. red, it will be green vs. orange, or at a higher level: centralization vs. decentralization * “I am not very confident in America’s hard power in a serious fight with China in its own backyard because America is overconfident.” – Balaji Srinivasan * Russia cannot give up on Ukraine; China cannot give up on Taiwan; America can and probably will give up on Ukraine and Taiwan like it gave up on Afghanistan * The resolution of the government’s war with Big Tech is to effectively nationalize Big Tech, regardless of the justification, and it will justify its measures in the name of combatting Chinese Control * Choosing betweenAmerican Anarchy and Chinese Control is not ideal for most countries or most people * The Cold War had a “third world” consisting of non-aligned countries with neither the U.S. nor the Soviets, but it was significantly behind the U.S. and Soviet blocs + Balaji thinks a third group could emerge in the America-China conflict, but perhaps this time, it comes in first because of the modern technologies that empower the individual

Read the full notes @ podcastnotes.org

Balaji Srinivasan is an entrepreneur and essayist, he was co-founder of Counsyl, former chief technology officer of Coinbase and former general partner at Andreessen Horowitz.

Our information diets are making us mentally fat. Whether it's fake news, mis or disinformation, state propaganda or conspiracy theories, the world is very difficult to navigate. Balaji also wants to start a new type of country, he has views on how to optimise your working day and he generates more new ideas than almost anyone. Today we get an insight into his thought process behind all of this.

Expect to learn why socialism always continues to arise across the world, how Balaji tracks all of the ideas he has in his head, why Singapore is a powerhouse of a new country, how immigration will deal with remote VR workers in India, why everyone should use a dashboard to track what's going on in their life, the key trick that the legacy media uses to manipulate you and much more...

Sponsors:

Get $100 off plus an extra 15% discount on Qualia Mind at https://neurohacker.com/modernwisdom (use code MW15)

Get the Whoop 4.0 for free and get your first month for free at http://join.whoop.com/modernwisdom (discount automatically applied)

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Extra Stuff:

Read The Network State - https://thenetworkstate.com/

Check out Balaji's website - https://balajis.com/

Follow Balaji on Twitter - https://twitter.com/balajis

Get my free Reading List of 100 books to read before you die → https://chriswillx.com/books/

To support me on Patreon (thank you): https://www.patreon.com/modernwisdom

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My First Million

Podcast Notes Key Takeaways * MrBeast wants to “win” in business more than he wants to “make money” in business + He only wants to make money so that he can reinvest and grow his business * “I just want to make the greatest YouTube videos possible. That’s literally all I want.” – MrBeast * MrBeast on how he likes to work: “Wake up, obsess over something, go to bed. Wake up, obsess, go to bed. Like every second of the day until I have a mental breakdown and burn out and then I take a day off or maybe a day and a half and then go right back to it.” * “I like to find people who are the best in the goddamn world at their job and then empower them and give them money.” – MrBeast * Constantly consume a diverse set of information to spark creativity + MrBeast pays three people to discover obscure things and then teach him about those topics * Prior to his success, MrBeast’s obsession with YouTube was perceived as a negative quality, but now his obsession is celebrated * MrBeast spends about $1.5 million to create each video

Read the full notes @ podcastnotes.org

Episode 352: Sam Parr (@TheSamParr) and Shaan Puri (@ShaanVP) sit down with YouTube sensation MrBeast, and award-winning comedian Hasan Minhaj to talk about obsession, how to win, finding your creativity, measuring success, how to run a company... and more.

Links:

• MrBeast

• Hasan Minhaj

• Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.

• Want more insights like MFM? Check out Shaan's newsletter.

Show Notes:

(02:45) - What Hassan and MrBeast think of each other

(03:25) - How do you measure success?

(12:15) - How do you run your company?

(19:20) - Doing good while getting attention

(22:25) - Fitting in vs standing out

(25:55) - What are you trying to figure out?

Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

Additional episodes you might enjoy:

• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits

• #209 Gary Vaynerchuk - Why NFTS Are the Future

• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto

• 169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett

• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates

• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More

• How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

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Modern Wisdom

Podcast Notes Takeaways * Globalization is ending; the year 2019 is as good as it is ever going to be * After 70 years of people having fewer kids as a result of moving off the farm and into the city, the world is running out of mature adults, who are necessary for the consumption-based economic system to function * From an economic perspective, the U.S. is better positioned than most nations because its post-war generation actually continued to have kids at the onset of globalization + America has a much higher mortality rate once people age past 55 + American wealth gets cycled back to the younger generation much faster than in nations where people live to be much older

Read the full notes @ podcastnotes.org

Peter Zeihan is a geopolitical analyst, author and a speaker.

The world is changing faster than ever, and a lot of the countries, dynamics, peace treaties and structures we're familiar with may be about to come to an end. Peter's job consists of him analysing data from geography, demographics, and global politics to understand economic trends and make predictions. And if his predictions are correct, the next 50 years are going to look incredibly different.

Expect to learn why China will lose half of it's population by 2050, why globalisation is coming to an end even though we're more connected than ever, why population demographics are one of the most important factors in determining the future, whether automation will help or hinder us, whether food shortages are actually something to panic about and much more...

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Buy The End Of The World Is Just The Beginning - https://amzn.to/3AekTQz

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Artificial Intelligence Podcast

Podcast Notes Intro * “We want [Coinbase] to be the way that a billion people access the open global financial system.” – Brain Armstrong * All of Brian’s friends thought Coinbase was a dumb idea when he first started building it in 2010; there was a lot of uncertainty around Bitcoin at the time, which was trading at $10 per coin * Most of the best leaders are able to contribute a net positive to the world and do not care if they anger a certain percentage of people + You’ll never do something authentic to yourself if you care too much about what people think * Early startups need to “keep doing stuff” and aggressively iterate on their product or service + “Startups are like sharks; if they stop swimming they die.” – Paul Graham * People who are uncertain about their future don’t try as hard to make or achieve things because everything they produce and earn could be gone tomorrow; good property rights are foundational * Bitcoin is a new technology that can bring economic freedom to everyone around the globe, specifically in places where economic freedom had not previously existed * “I think Bitcoin could end up becoming the reserve currency of the world.” – Brain Armstrong * Companies are getting distracted from working on their core missions by “the current thing”, which is destructive to their productivity + It’s not Coinbase’s job to solve the most important societal issues + Focus on work at work and pursue your other interests during your own time * To become a better leader, consistently do things outside of your comfort zone so that your comfort zone grows * It is easy to be a critic; be the person in the arena that uses technology to improve the world and is a part of the solution and not a part of the problem

Read the full notes @ podcastnotes.org

Brian Armstrong is the CEO of Coinbase. Please support this podcast by checking out our sponsors: – Audible: https://audible.com/lex – Skiff: https://skiff.org/lex – BiOptimizers: http://www.magbreakthrough.com/lex to get 10% off – Fundrise: https://fundrise.com/lex – Athletic Greens: https://athleticgreens.com/lex and use code LEX to get 1 month of fish oil EPISODE LINKS: Brian’s Twitter: https://twitter.com/brian_armstrong Brian’s Instagram: https://www.instagram.com/brian_armstrong Coinbase’s Website: https://www.coinbase.com ResearchHub: https://www.researchhub.com NewLimit: https://www.newlimit.com/ PODCAST INFO: Podcast website: https://lexfridman.com/podcast Apple Podcasts: https://apple.co/2lwqZIr Spotify: https://spoti.fi/2nEwCF8 RSS: https://lexfridman.com/feed/podcast/ YouTube Full Episodes: https://youtube.com/lexfridman YouTube Clips: https://youtube.com/lexclips SUPPORT & CONNECT: – Check out the sponsors above, it’s the best way to support this podcast – Support

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Knowledge Project

Podcast Notes Key Takeaways * Mimetic desire: whatever the people you surround yourself with want, you end up wanting as well, i.e. being subconsciously driven to achieve external validation rather than intrinsic validation * The constant desire to want to improve parts of your life or business turns your weaknesses into strengths * “Most successful people are just an anxiety disorder harnessed for productivity” – Andrew Wilkinson * Andrew focuses on building businesses that do not compete with venture capital and whose success can be predicted with reasonable certainty * Andrew applies the “80/20 rule” to learning about health; spend an hour a month reading all of the scientific summaries and then don’t think about it again * On raising kids with wealth: “At the end of the day, your kids just need to know that you’re there and you love them, and I hope that’s enough.” – Andrew Wilkinson * The Concept of Self-Binding: create an environment where you can’t do the things you don’t want to do, such as eating ice cream, by removing the stimulus from your environment completely * The unconscious mind is far more powerful than the conscious mind

Read the full notes @ podcastnotes.org

Canadian businessman and billionaire investor Andrew Wilkinson has made a successful career out of channeling his entrepreneurial spirit, but he knows that sometimes that energy can be a double-edged sword. On this episode, Wilkinson goes in-depth on the lessons learned from a career that’s seen him build a business empire of more than 40 companies, but also why he’s had to re-calibrate his personal goals after struggling to find happiness in the summer of 2021. He also discusses mimetic desire, building a business in a small Canadian market, competing with venture-backed companies, strategies for hiring CEOs, the mistakes that have cost him millions of dollars, and so much more. Wilkinson is the co-founder of Tiny Capital, which boasts an enterprise value of more than $1 billion and owns 35 different companies including AeroPress, MetaLab and Dribble. He is also the co-founder and chairman of WeCommerce, a holding company that starts, buys, and invests in the world’s top Shopify businesses. He is based in Victoria, British Columbia. -- Want even more? Members get early access, hand-edited transcripts, member-only episodes, and so much more. Learn more here: https://fs.blog/membership/

Every Sunday our Brain Food newsletter shares timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/

Follow Shane on Twitter at: https://twitter.com/ShaneAParrish

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Bitcoin Magazine Podcast ✓

Claim

Podcast Notes Key Takeaways * Money and currency are two different things + Money is economic energy, while a currency is a method of moving economic energy across time and space that is typically designated by a government * Fiat currencies are a method of moving economic energy, but they dissipate energy over time + For example, the US dollar dissipates energy at a rate of about 15% per year, and the Turkish Lira dissipates about 70% of its energy per year * Bitcoin could become a $250 trillion ecosystem without threatening any nation state by demonetizing gold, then real estate, then corporate bonds, equities, etc. + It doesn’t have to “replace” anything; it can partner with people, companies, and nations and improve them * “If you want to watch how Bitcoin Hyperization happens, watch how dollarization happens … and does it happen with bloodshot or without bloodshed.” – Michael Saylor + He doesn’t think it’s practical for the world to collectively adopt a Bitcoin standard anytime in the next few decades * As Bitcoin grows and becomes more understood, rational nations will embrace Bitcoin holders, miners, and companies, which will result in more favorable policies toward Bitcoin * “Sound money in the 19th century was gold. Sound money in the 21st century is bitcoin.” – Michael Saylor + Bitcoin is just the introduction of a better technology; it is not “coming to get” anyone or anything * There don’t have to be losers if Bitcoin adoption continues; everyone can win + Instead of “Bitcoin fixes this”, the more appropriate meme is “Bitcoin improves this”

Read the full notes @ podcastnotes.org

Michael Saylor (@Saylor) and Aleks Svetski (@GhostofSvetski) have a long-form conversation about the implications of Bitcoin and its effects on the world we live in today.

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My First Million

Podcast Notes Key Takeaways * Talent and resources, that would otherwise be unavailable during an economic boom, become increasingly available during a recession * A founder must convince talented people to do the “irrational thing” and join their startup + Salary is just one vector of value for an employee, and one that people often over-index * There are three types of employees: creatives, completers, and collaborators * The Trillion-Dollar Venn Diagram of Success: create value at the intersection of two of your skills + Acquire skills that are rare and also ones that reinforce the skills that you’re already exceptional at * Most things require skill, not talent * Find what your time is worth on an hourly rate and either don’t do or delegate, any tasks that return a value less than that amount * Creating a successful business requires a big dream and constant iterations on ideas, processes, and products

Read the full notes @ podcastnotes.org

Sam Parr (@TheSamParr) and Shaan Puri (@ShaanVP) talk to Co-Founder & CTO of HubSpot, Dharmesh Shah (@dharmesh), about why a bad economy is a good time to start a business, creating an alternative to Wordle, and the trillion dollar Venn diagram of success.

Also, want $5,000? Check out the My First Million Clips contest.

Links:

• HubSpot

• Why to Start a Startup in a Bad Economy article

• WordPlay

• Maven writing course

• Shaan tweet about starting the next Pixar

• Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.

• Want more insights like MFM? Check out Shaan's newsletter.

Show Notes:

(02:10) - Why renting is better than owning

(25:20) - Framework for three types of employees

(35:05) - Why Dharmesh built WordPlay

(01:07:55) - Driving value through an intersection of skills (Trillion dollar Venn diagram)

(01:12:10) - Why Shaan is starting the next Pixar

Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

Additional episodes you might enjoy:

• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits

• #209 Gary Vaynerchuk - Why NFTS Are the Future

• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto

169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett

• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates

• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More

• How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

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Modern Wisdom

Podcast Notes Key Takeaways * Check out the Modern Wisdom Episode Page & Show Notes

Read the full notes @ podcastnotes.org

To celebrate 500 episodes on Modern Wisdom, I broke down some of my favourite lessons, insights and quotes from the last 4 and a half years.

Expect to learn why having no role models can be an advantage, how discipline eats motivation for breakfast, why you should be training for the difficult, why success in pursuit of happiness can be self-defeating, why fame makes you weak, how an obsession with productivity is just immortality by another name, what I learned about negativity biases from Margaret Thatcher, the importance of letting go of successful habits for new ones and much more...

Sponsors:

Join the Modern Wisdom Community to connect with me & other listeners - https://modernwisdom.locals.com/

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Extra Stuff:

Get my free Reading List of 100 books to read before you die → https://chriswillx.com/books/

To support me on Patreon (thank you): https://www.patreon.com/modernwisdom

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Get in touch.

Instagram: https://www.instagram.com/chriswillx

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Email: https://chriswillx.com/contact/

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The Realignment ✓

Claim

Podcast Notes Key Takeaways * The work that’s gone into building the internet and digital networks over the last 30 years is comparable to the work that went into building the physical networks, like the railroads and highways, during the second industrial revolution period of the 1880s to 1920s * Every historical achievement started as speculation + Today, society is willing to take digital risks but has become extremely adverse to taking analog risks * “Nuclear is by far the safest form of energy [for humans and the environment] that we know how to make.” + But regulators in the U.S. won’t allow new nuclear plants to be built + Starting in the 1970s, the U.S. has basically made it illegal to build real-world infrastructure in a very deliberate way * Americans’ trust in large-scale institutions has declined over the last 50 years, and the primary question is whether social media caused the collapse of trust or simply exposed the rot that previously existed * The future of the internet could involve the creation of networks built from the bottom-up that are more participatory and effective at solving today’s problems, instead of the existing top-down, traditional, hierarchical institutions that are losing the trust of the people * Today, managerial capitalism has overtaken bourgeois capitalism and largely become “capitalism” as we know it + The emergence of venture capital and private equity in the 1970s and 1980s is the “revenge” of bourgeois capitalism * Many of the misconceptions in the crypto space are caused by people working backward from price, when they should be working forwards from fundamentals * Ironically, the three most dysfunctional areas of our current society – housing, education, and healthcare – are also the most critical for achieving the American Dream * The current system has been wired in a way that makes ordinary people so frustrated that they resort to more radical politics + Fixing housing, education, and healthcare would reduce political polarization

Read the full notes @ podcastnotes.org

Subscribe to The Realignment on Supercast to support the show and access all of our bonus content: https://realignment.supercast.com/.

REALIGNMENT NEWSLETTER: https://therealignment.substack.com/

BOOKSHOP: https://bookshop.org/shop/therealignment

Email us at: realignmentpod@gmail.com

This episode and our expanded coverage are made possible thanks to our Supercast subscribers. If you can, please support the show above.

Marc Andreessen, cofounder and general partner at Andreessen Horowitz, cofounder of Netscape, and co-creator of the influential Mosaic web browser joins The Realignment to discuss how the second industrial revolution (1880s-1920s) shapes his view of America today, the consequences of the shift from a high to low institutional trust society, the response to Web3 skeptics, how crashes shape the tech industry, and why it's "time to build."

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The Rational Reminder Podcast ✓

Claim

Welcome to another episode of the Rational Reminder Podcast, a show helping people to make educated financial decisions and investments. We usually interview an expert on each show however, in this episode, we take a beat and try something different. In today’s jam-packed episode, hear updates regarding our goals survey, the schedule for upcoming guests on the show, the latest news and highlights from the financial world, and some of the feedback we have received about the show. We also highlight interesting articles and papers regarding tech valuations, expected stock returns, the performance of venture capital funds, and a book recommendation that will help you understand the finance game. Tune in to learn about the results of the recent social survey in Canada, the basics of private equity funds, the challenges of calculating the Internal Rate of Returns for investors, some of the misconceptions surrounding private equity, and much more! Don’t miss out on this informative and well-rounded episode of the Rational Reminder Podcast with your two favourite Canadians!

Key Points From This Episode:

• We start the show with an exciting announcement for our listeners. [0:02:07]
• An update regarding the Goals Survey Project and what needs to be done. [0:03:30]
• A rundown of the upcoming guests for the show. [0:04:44]
• Outline of the reviews and criticisms received about the show. [0:05:55]
• A breakdown of the book for today’s review, Finite and Infinite Games. [0:10:07]
• Background about the author of the book, James P. Carse. [0:10:57]
• The main point of the book: the differences between finite and infinite games. [0:11:16]
• An interesting quote from the book regarding culture. [0:14:42]
• Highlights of the recent news and updates in the financial world. [0:17:02]
• Insights from an interesting article about tech valuations by Cliff Asness. [0:19:47]
• Another interesting paper by David Blitz about expected stock returns. [0:23:09]
• A discussion regarding the recent social survey implemented in Canada. [0:26:07]
• We discuss the basics of private equity as an investment strategy. [0:30:06]
• Why the math used is problematic for calculating the Internal Rate of Return. [0:32:35]
• The results of a paper which investigated the performance of venture capital funds. [0:39:01]
• More insights from follow-up papers about private equity. [0:42:24]
• Examples of the type of risk exposures that private equity provides. [0:49:36]
• The impacts associated with the preference for illiquid assets. [0:52:00]
• Some of the misconceptions surrounding diversity in private equity funds. [0:52:44]
• What are the best metrics to use to measure returns on private equity. [0:56:00]

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The Hustle Daily Show✓Claim

Podcast Notes Key Takeaways * “Whenever you’re living through a time that you haven’t lived through before, you might want to check history”– Ray Dalio + Dalio’s recent book,The Changing World Order, looks at where the United States is on the historical 18-step curve for the rise and fall of an empire * Ray Dalio’s main points on what’s driving the debt crisis: + Creation of enormous amounts of debt and the printing of money to monetize that debt. “My generation has borrowed a lot of money and left the next generation with a broken-down infrastructure.” – Ray Dalio + Internal political and ideological conflict. Is it hard to imagine that neither side will accept losing in 2024? + International power equivalency and reorganization. The gap is narrowing for the United States as the world’s economic and military superpower. + Continue reading for elaboration on these points, as well as comments on the state of capitalism and the wealth gap * “The amount of value in financial wealth (stocks, bonds, etc.) dwarfs the total amount of real wealth, and that’s a problem because there’s no purpose in financial wealth other than to buy real wealth”– Ray Dalio + When this ratio gets too large, you get monetary inflation + Dalio believes there is an open competition for what real wealth asset will emerge as the best store of wealth * Pain + Reflection = Progress + Mistakes are opportunities to learn. Humility balances audacity.

Read the full notes @ podcastnotes.org

Ray Dalio is the founder and co-chief investment officer of Bridgewater, the largest hedge fund in the world. He’s one of the 100 richest people on Earth. He’s also a best-selling author.

In today’s episode, Zachary Crockett chats with Dalio about his latest book, “The Changing World Order,” which uses a historical lens to examine why empires rise and fall — and why the US may be showing some signs of decline.

We cover a range of topics about the economy and Dalio’s life, including:

The 3 biggest issues America is facing right now

What’s driving the debt crisis

The growing wealth gap (and what we should do about it)

Thoughts on inflation and an impending recession

What to invest in during times of volatility

Whether or not crypto can become a reserve currency

Dalio’s worst failures as an investor

Common traits of successful people

The role luck plays in reaching the top

How Dalio helped McDonald’s launch chicken nuggets

Thank You For Listening to The Hustle Daily Show. Don’t forget to hit Subscribe or Follow us on Apple Podcasts so that you never miss an episode! If you want this news delivered to your inbox, join millions of others and sign up for The Hustle Daily newsletter, here: https://thehustle.co/?utm_source=hustle-daily-podcast&utm_medium=referral&utm_campaign=show-notes

Plus! Your engagement matters to us. If you are a fan of the show, be sure to leave us a 5-Star Review on Apple Podcasts https://podcasts.apple.com/us/podcast/the-hustle-daily-show/id1606449047 (and share your favorite episodes with your friends, clients, and colleagues).

The Hustle Daily Show is brought to you by The Hustle in partnership with HubSpot Podcasts.

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Masters in Business

Arnold Schwarzenegger, the movie star-turned-California governor, has been interested in business since long before he was Conan or the Terminator. For more than four decades, his behind-the-scenes partner has been Paul Wachter, whose Main Street Advisors was born 25 years ago, with Schwarzenegger's encouragement.

The modern multihyphenate -- think LeBron, Drake, Billie Eilish -- are following a template the pair established in the 1980s, as Schwarzenegger successfully expanded his popularity and wealth through savvy dealmaking. The key element: Don't just endorse when you can own a piece of the product.

See omnystudio.com/listener for privacy information.

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Modern Wisdom

Podcast Notes Key Takeaways * “There is much more talent to tap into than ever before, but in most parts of the world, we are screwing it up”– Tyler Cowen + “We’re rewarding homework at every stage of the process, and then we’re shocked when we get too many conformists” – Tyler Cowen + Credentialism, seniority requirements, bureaucratized evaluations, and conservative HR departments also contribute to the hiring problem * Tyler’s definition of talent: people with an energetic spark, who have new and creative ideas that will change how things are done + In the market of ideas and technology, the top performers are at least 10x more valuable than the average performers—making hiring of utmost importance * Talented candidates can look ‘beyond the immediate moment‘ + “It’s very easy to optimize too locally…always try to be looking one level broader”– Tyler Cowen + Example: Ask them if Romeo & Juliet were really in love with each other? Or ask who was the best talent scout in Star Wars? Figure out one of the candidate’s interests and ask a question that explores their perception and thought-process rather than just knowledge. * Unique interview questions: + What tabs are currently open on your browser right now? Engaging this question will give you an idea of how they manage their ideas consumption. + Which conspiracy theory do you think is plausible? Regardless of the truth, it shows that the candidate is curious and capable of thinking outside the box. + How ambitious are you? It’s very hard to fake this answer. + How do you practice and improve? Very few people treat their chosen pursuit like that of an athlete or musician. Exceptional people constantly evaluate how their inputs affect their outputs, but few people do it in their professional work.

Read the full notes @ podcastnotes.org

Tyler Cowen is the Holbert L. Harris Chair of Economics at George Mason University, a columnist, podcaster and an author.

Finding and recruiting the best talent is perhaps the most important job that an organisation has. Skilful, enthusiastic, keen staff can make or break a business, so why is it that most companies are mostly useless when it comes to discovering talent?

Expect to learn whether population collapse is coming very soon, whether talent is innate or developed, why there is a crisis of talent when we have more people on earth than ever before, whether you should look at someone's parents before hiring them, the best questions to ask in an interview, what SpaceX's hiring strategy teaches us about thoroughness, how Tyler screens young staff for the most original thinkers and much more...

Sponsors:

Get my free Reading List of 100 books to read before you die → https://chriswillx.com/books/

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Get 15% discount on Upgraded Formulas Test Kit at https://upgradedformulas.com/ (use code: MW15)

Get 20% discount on the highest quality CBD Products from Pure Sport at https://bit.ly/cbdwisdom (use code: MW20)

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Buy Talent - https://amzn.to/3t5cs5Z

Follow Tyler on Twitter - https://twitter.com/tylercowen

Check out Tyler's website - https://marginalrevolution.com/

To support me on Patreon (thank you): https://www.patreon.com/modernwisdom

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Get in touch.

Instagram: https://www.instagram.com/chriswillx

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My First Million

Podcast Notes Intro * Everyone sucks the first time they manage people. Check out Shaan’s unorthodox management techniques to learn how to suck less and get more results. * Host: Shaan Puri (@ShaanVP), no Sam (@thesamparr) on this episode!

Read the full notes @ podcastnotes.org

Shaan Puri (@ShaanVP) shares his tried and true unconventional management tips that you won't learn in business school.

Links:

• Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.

• Want more insights like MFM? Check out Shaan's newsletter.

Show Notes:

(02:40) - Tip 1 Dr. House

(05:25) - Tip 2 The Holiday

(08:30) - Tip 3 Misery Love Company

(09:00) - Tip 4 Hired Too Many

(12:45) - Tip 5 Super Power

(17:40) - Tip 6 Tesla Master Plan

(20:15) - Tip 7 Calendar Audit

(21:10) - Tip 8 Peer Groups

(22:00) - Tip 9 Kickoff Document

Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.

Additional episodes you might enjoy:

• #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits

• #209 Gary Vaynerchuk - Why NFTS Are the Future

• #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto

169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett

• ​​​​#218 - Why You Should Take a Think Week Like Bill Gates

• Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More

• How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

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My First Million

Podcast Notes Key Takeaways * You don’t have to know exactly why your business works until well after it’s launched + “You can say ‘I don’t know’ or ‘the same as everyone else’ to all questions as long as you have that one thing”– Shaan Puri + Your business is going to change and evolve anyway, so don’t let anything prevent you from getting it started in the first place * “I don’t know anything about deodorant, but in six months, I’m going to know everything there is to know”– Moiz Ali + Nobody is an expert when they start! Apply this to any idea. * Every Direct to Consumer (D2C) business should know its customer acquisition cost (CAC) + And then, constantly improve on it! “If you’re completely divorced from customer feedback, you’re setting yourself up for disaster” – Moiz Ali * Ask more questions like this: How do you think about (blank)? + Responses will be more honest and open-ended rather than numeric and analytical * Feel good unconditionally, force the good out of the average + Think about the DMV. If you want five-star service, be a five-star customer.

Read the full notes @ podcastnotes.org

Shaan Puri (@ShaanVP) sits down with entrepreneur and former CEO of Native, Moiz Ali (@MoizAli), to talk about how to find the competitive advantage for your business, three common mistakes DTC brands make, investment tips and more.

Links:

• Native

• Haldirams

• Manscaped

• Brumate

• Moiz's sell sheet tweet

• Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel.

• Want more insights like MFM? Check out Shaan's newsletter.

Show Notes:

(04:20) - Starting Native in secret

(13:50) - Figuring out your competitive advantage

(24:00) - Common mistakes in DTC brands

(35:00) - Stock tips on D2C tech companies

(38:10) - Real estate investments

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Infinite Loops

Podcast Notes Key Takeaways * Check out Infinite Loops Podcast Episode Page & Show Notes

Read the full notes @ podcastnotes.org

Nick Maggiulli is a financial educator, author of the blog “Of Dollars and Data”, and the newly released book “Just Keep Buying: Proven Ways To Save Money And Build Your Wealth.”

In this episode, we talk with Nick about the robust empirical research that has gone behind the insights and ideas presented in his new book!

You can follow Nick on Twitter at https://twitter.com/dollarsanddata and buy his book at https://ofdollarsanddata.com/justkeepbuying/

Show Notes:

• Coming up with title of the book
• The save-invest continuum
• Is buying a house a good investment?
• Debt: Good or bad?
• On being shaped by our experiences
• One path the wealth creation?
• 2020 vs 2021 as an investment year
• Handling emotions during a bear market
• Importance of diversification
• The ideal asset allocation
• The Great Reshuffle
• The argument against stock picking
• Negative yield bonds
• Lump sum vs. DCA
• Index investors or momentum investors
• Life as a growth, and value stock

Books Mentioned:

• Just Keep Buying; by Nick Magguilli
• Security Analysis; Benjamin Graham
• The Intelligent Investor; Benjamin Graham
• Influence; by Robert Cialdini

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a16z Live

Podcast Notes Key Takeaways * Check out a16z Podcast Episode Page & Show Notes

Read the full notes @ podcastnotes.org

Katherine Boyle, General Partner at a16z is joined by Hadrian founder and CEO Chris Power, Packy McCormick, founder of Not Boring, and a16z co-founder Marc Andreessen to discuss the opportunity to automate and upskill in the precision parts industry and shore up U.S. manufacturing with new technology.

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Modern Wisdom

Nick Maggiulli is the Chief Operating Officer for Ritholtz Wealth Management and an expert in personal finance using data analysis.

Saving money and building wealth are some of the most popular content on the internet. But what are the absolute best ways to maximise your fortune? Nick has broken down the complex world of personal finance to find out what the data says about different strategies.

Expect to learn why earning more is better than spending less, why buying the dip is a losing strategy, the easiest way to invest in the stock market, how to spend money guilt-free, why almost everyone has a backward retirement strategy, how to tell when you should sell, what the Vanderbilt's lost fortune can teach us about spending money and much more...

Sponsors:

Join the Modern Wisdom Community to connect with me & other listeners - https://modernwisdom.locals.com/

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Extra Stuff:

Buy Just Keep Buying - https://amzn.to/3OcdXID

Check out Nick's blog - http://ofdollarsanddata.com/

Get my free Reading List of 100 books to read before you die → https://chriswillx.com/books/

To support me on Patreon (thank you): https://www.patreon.com/modernwisdom

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Get in touch.

Instagram: https://www.instagram.com/chriswillx

Twitter: https://www.twitter.com/chriswillx

YouTube: https://www.youtube.com/modernwisdompodcast

Email: https://chriswillx.com/contact/

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The Danny Miranda Podcast

Podcast Notes Key Takeaways * Check out The Danny Miranda Podcast Episode Page & Show Notes

Read the full notes @ podcastnotes.org

(0:00) Sahil compliments me

(0:45) Crazy coincidence

(2:40) Sahil’s been plugging his Twitter since 2011

(3:44) Why Sahil is attracted to motivational tracks

(6:31) Obesity research at Nike

(11:40) The transition from arrogance to kindness

(15:25) Identity (Indian + Jewish parents, nerd + jock)

(18:27) 10-year reunion

(20:14) Practices that made Sahil more secure?

(21:39) Darkest hour friend

(25:15) What to say in dark times to a friend?

(27:15) How to accept compliments

(28:08) “I appreciate you”

(30:05) Why Sahil microanalyses life

(32:00) Condoleezza Rice

(36:29) Cold email

(37:38) Going to the gym with Tim Cook

(39:20) Why is Sahil so connected to highly successful people

(46:30) What can someone do today to show grit and work ethic?

(50:02) Zone of genius

(59:15) How to single focus

(1:00:55) More walks without tech

(1:03:10) Connecting with Sahil

Sahil Bloom is an investor, entrepreneur, and creator. In less than 2 years, Sahil has gained over 500,000 Twitter followers. But in this episode, we didn't focus that much on his hyper-growth online. Instead, we spoke about how Sahil got mentored by BOTH Tim Cook and Condoleezza Rice, how Sahil became more secure in himself, and what it means to be a "darkest hour friend."

Sahil's Twitter – https://twitter.com/SahilBloom

Continue the conversation with me...

🎙 Podcast: https://podfollow.com/1532160275

🐣 Twitter: https://twitter.com/heydannymiranda

📸 Instagram: https://instagram.com/heydannymiranda

🕺 TikTok: https://tiktok.com/@heydannymiranda

🚨 Newsletter: https://dannymiranda.com/tuesday-treasure/

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BiggerPockets Real Estate Podcast

Inflation and cash flow have been fighting against each other for decades. As soon as you increase the rent on an income property, inflation comes right in to eat some of that gain. So in today’s borderline hyperinflationary environment, is cash flow still coming out on top? A better question to ask may be, what happens in five, ten, or twenty years? Will inflation completely erode your financial freedom dreams? Or will cash flow match (or beat) this destructive force.

This isn’t just a question that impacts real estate investors—it affects almost every individual working within today’s economy. In today’s episode of Seeing Greene, David goes deep into this question (and others) so you, the investors, can have a better understanding of our economy as a whole. You’ll also hear topics like whether or not you can transfer title on an FHA loan, what to do when bidding wars push prices well above market comparables, when to cosign and when to ask for a cosigner, and what every investor in their twenties should start doing today.

Heard a topic that you wanted more explanation on? Want to ask David a question you’ve never heard before? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can hop on a live Q&A and get your question answered on the spot!

In This Episode We Cover:

How spending power changes the way investors calculate cash flow

Transferring title from your personal name into an LLC with an FHA loan

How to know a house is “worth it” and what to look for in a loan officer

Cosigning for a relative to house hack and staying up-to-code with owner-occupied loans

Pivoting markets from a cash flow market to an appreciation market

David’s advice to every young, aspiring real estate investor

And So Much More!

Links from the Show

BiggerPockets Youtube Channel

BiggerPockets Forums

BiggerPockets Pro Membership

BiggerPockets Bookstore

Submit Your Questions to David Greene

BiggerPockets Podcast 567: Seeing Greene: Finding Cash Flow, Refinancing Sooner, & NNN Properties

BiggerPockets Podcast 570: Seeing Greene: Signs of a Great Agent, When to Refi, and How to Scale

BiggerPockets Podcast 571: Is This Deal Worth My Time? The 6 Crucial Steps to Vet a Multifamily Sea

BiggerPockets Podcast 577: Cutting Your Tax Bill, Investing in Different Markets, & “Investor Pressure” | Coaching Calls

BiggerPockets Podcast 582: Seeing Greene: Investing in Paradise, Timing the Market, and House Hacking

BiggerPockets Podcast 585: Seeing Greene: Boosting Your Appraisal, Backward BRRRRs, & Capital Raising Risks

BiggerPockets Podcast 588: Seeing Greene: Climate Change, ADU Dilemmas, & Retiring with Rentals

BiggerPockets Podcast 591: Seeing Greene: The Cash Flow Market “Mirage” That Traps New Investors

David Greene Meetups

David Greene Team

Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-594

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Twenty Minute VC

Podcast Notes Key Takeaways * Check out the 20VC Episode Page & Podcast Notes

Read the full notes @ podcastnotes.org

David Friedberg is Founder and CEO of The Production Board (TPB), a holding company established to solve the most fundamental problems that affect our planet, by reimagining global systems of production. Prior to founding The Production Board, David founded The Climate Corporation, a 10-year journey that culminated in their $930M acquisition by Monsanto. If that was not enough, David is the Founder and Chairman at Metromile and also sits on the board of Soylent, Clara Foods, Tillable, Cana Technologies and more.

In Today’s Episode with David Friedberg You Will Learn: 1.) Origins:

• How David made his way into the world of startups and technology from academia and physics?
• What were David's biggest takeaways from scaling The Climate Corp to $930M exit to Monsanto?
• How did the exit put pressure on David for all future companies he builds? How does he manage that?

2.) The Macro: Venture + The Economy

• How does David foresee the impending rate hikes? What impact will this have on venture and the economy?
• What segment of the market will be first to be hit? Why is growth investing last to be hit? How does early stage play out in this very new environment?
• How will we see the velocity of capital deployment change in this new period? What does David believe are some of the crucial flaws of the venture model?
• How does David reflect on his own price sensitivity? What lessons has he learned from deals he has done or missed that have changed his perspective?

3.) David Frankel: The Business Builder

• What is David's rubrik for business value creation? How has this changed with time?
• How mentally plastic does one have to be around the time it takes to see margins, unit economics etc change from negative to positive?
• How does David and the team approach building new companies at TPB? Where do they find the founding teams? How do they incentivise them?
• How does TPB approach continuous funding for the companies they create? What milestones need to be hit? How do they assess them?
• How does David approach liquidity with regards to exits for the companies they create? Why does their holding company structure mean they have different incentives to VCs?

4.) David Friedberg: Father and Husband

• How does David reflect on his own relationship to money today? How has it changed over time?
• What have been David's biggest realisations on what provides him true happiness?
• How did having children change his operating mentality? What does being a great father mean to David?

Item’s Mentioned In Today’s Episode with David Friedberg David’s Favourite Book: Zen Mind, Beginner's Mind

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Beginner's Mind ✓

Claim

Podcast Notes Key Takeaways * Check out Beginner’s Mind Episode Page & Show Notes

Read the full notes @ podcastnotes.org

Did you know that almost 90% of all product ideas fail in clinical trials? The most obvious reason that a clinical trial fails is lack of efficacy.

Surprising to me was that lack of efficacy doesn't seem to be the main reason why clinical trials fail in the first place. Other factors are at play, and most of them are manageable risks when the right team is at work.

In this episode, we talk about:

• Strategic considerations for setting up a clinical trial
• Inhouse vs Outsourced Clinical Study Management
• Why do some clinical trials fail?
• Steps to getting your clinical trial back on track
• Future trends of clinical trials
• and much more

Who is the expert in the show?Heike Schön is the Managing Director and Co-Founder of Lumis International GmbH and Lumis Life Science Consulting GmbH.

She has more than 25 years of experience in leadership positions in international clinical research and drug development.

📞 Book a meeting here: Link

Youtube: https://youtu.be/r0qphO8Qs3o **Shownotes @ Podcastnotes: tbd

Timestamps:**(00:00) Intro
(02:25) Who Is Heike Schön, Lumis International and Lumis Consulting?
(04:20) Topics in the Episode
(04:30) Kick-Off
(05:00) Background to Lumis International and Heike Schön
(10:20) When is the Right Time to Start with the Planning of a Clinical Trial?
(12:10) The Role of a Sponsor of a Clinical Trial
(14:30) Who is Responsible for the Clinical Trial as a Sponsor?
(16:55) When Should a Company Start to Implement Clinical Trial Management in the Organisation?
(18:30) Funding Requirements for Clinical Trials
(20:00) The Reality of Inhouse and Outhouse Clinical Trial Management
(22:15) What to Think About When Planning Oversight Management
(25:00) Relationship and Culture Management in Clinical Trials
(27:25) Budget and Ressource Requirement for Clinical Trials
(28: 45) 3 Steps to a Successful Clinical Trial
(30:40) The 3 Main Reasons Why Clinical Trials Fail
(33:30) Considerations for Patient Enrollment as a Key Success Factor for Clinical Trials
(37:30) … and when enrolment fails, what are the steps to rescue the trial?
(42:45) Do Inhouse Studies Require Rescue?
(44:30) How to Rescue a Clinical Trial
(48:30) Root Cause Analysis as a Starting Point to Rescue a Trial
(52:25) Preventive Measures to Avoid Failure Early on
(53:30) How Important is Leadership in a Clinical Trial?
(56:30) The 3 Main Reasons to Stop a Clinical Trial – The Point of no Return
(59:00) How are the Cost Calculated for Rescue Study Management?
(01:00:15) Planning of a Clinical Trial – A Key Aspect of a Successful Trial
(01:02:15) How to Plan Realistic Timelines and Numbers
(01:07:15) The Role of Feasibility Studies in Clinical Trials
(01:09:30) How Clinical Trial Management Evolved in the last 30 years
(01:11:15) Upcoming Trends in Clinical Trial Management
(01:13:15) Decentralized Clinical Trials
(01:15:00) Artificial Intelligence And Big Data in Clinical Trial Management
(01:17:55) The Digital Twin
(01:19:15) The Human Factor and Leadership in Clinical Trial Management
(01:21:10) The Patient in Clinical Trials
(01:22:55) Planning and its contribution to clinical trial success
(01:26:55) Summary of What to Do When Clinical Trials Fail
(01:28:35) When is the Right Time to Add a Rescue Team to the Clinical Trial?
(01:31:00) A Risk Management Plan for Clinical Trials
(01:32:00) How to Cont

Support the show (https://lsg2g.substack.com/subscribe?)

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Starting Greatness with Mike Maples

Podcast Notes Key Takeaways * Check out Starting Greatness Episode Page & Show Notes

Read the full notes @ podcastnotes.org

Tim Westergren maxed out 11 credit cards, racked up hundreds of thousands of dollars in debt, and was rejected 348 times for a second round of funding for his revolutionary idea for a music streaming platform. But like any true artist, Westergren remained committed to his vision of creating an aesthetically more beautiful future with Pandora, and now the company boasts more than 6 million monthly subscribers. Mike Maples, Jr of FLOODGATE interviews Westergren to discuss the company’s humble beginnings, why it took an act of Congress to keep the company alive, and why both men believe the best founders are artists who can sell their vision.

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Starting Greatness with Mike Maples

Podcast Notes Key Takeaways * Check out Starting Greatness Episode Page & Show Notes

Read the full notes @ podcastnotes.org

Your startup will face multiple WFIO moments on the path to greatness...COUNT ON IT. But that doesn’t mean you should let these moments get inside your head. In this lesson of greatness, Mike Maples, Jr of FLOODGATE discusses how every startup team MUST be prepared to take the initiative in the crucible of the WFIO moments they will inevitably face. The bright side? You can use these horrible situations as defining moments to show everyone that your startup is destined to defeat the impossible.

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Venture Stories

Podcast Notes Key Takeaways * Check out Village Global’s Venture Stories Episode Page & Show Notes

Read the full notes @ podcastnotes.org

Today’s guest is Ben Braverman. Ben is currently Chief Customer Officer at Flexport after 6 years of being their Chief Revenue Officer during Flexport’s hypergrowth period.

In this episode, we discussed how to build a good sales machine from the ground up. Ben also shares his thoughts on all things revenue - from marketing to BD to forming early SDR teams.

On Deck and Flexport are co-building the future of logistics — learn more about their joint accelerator at www.beondeck.com/x/flexport.

Adam Gelman, On Deck’s Head of Go-To-Market, joined Erik in this episode as a guest co-host. We hope you enjoy.
___

Execs is a show for founders, operators, and pioneers who want to understand the playbooks, frameworks, and tactics that leading tech companies today have used to scale. We will be simulcasting the podcast on the Village Global feed.

Share your thoughts with us on Twitter:
Hosted by: @eriktorenberg
Guest: @braveben
Guest co-host: @Adam_Gelman
Produced by: @jacksonsteger
Brought to you by: @beondeck

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Knowledge Project

Podcast Notes Key Takeaways * “Check out The Knowledge Project Episode Page & Show Notes“

Read the full notes @ podcastnotes.org

Silicon Valley icon Marc Andreessen explores investing, decision making, and the art of solving unsolvable problems. In this discussion, Andreessen reveals why the Internet has become the conduit for some people to disrupt traditional power structures and for others to enforce them, optimistic and pessimistic scenarios for the future of the Internet, assessing judgment, and the book he turns to for insight. Andreessen is a co-founder and general partner at the venture-capital firm Andreessen Horowitz, and has invested in companies such as Facebook, Pinterest, Twitter and Skype, among others. He co-created the highly influential Mosaic internet browser and co-founded Netscape, and has been named one of the 100 most influential people in the world by Time. The books recommended by Marc Andreessen in this episode are: * The WEIRDest People in the World, by Joseph Henrich * The Machiavellians: Defenders of Freedom, by James Burnham * The Revolt of The Public and the Crisis of Authority in the New Millennium, by Martin Gurri * The Ancient City, by Numa Denis Fustel De Coulanges

--
Want even more? Members get early access, hand-edited transcripts, member-only episodes, and so much more. Learn more here: https://fs.blog/membership/
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What Got You There with Sean DeLaney

Podcast Notes Key Takeaways * “Know what you don’t know and trust what you do” – Sean DeLaney quoting Bob Iger + True leadership derives from authenticity and integrity + Being honest with yourself and being decent to others are the fundamental building blocks for great leadership + Check out the rest of Bob’s leadership principles * Great companies survive because they have an environment that gives permission to fail + “You can only put the story together in retrospect… determining principles of leadership is impossible to do without experience” – Sean DeLaney quoting Bob Iger + Every failure pushes the boundaries of possibility a little further * “Mentors save you decades”– Sean DeLaney + Bob Iger received some incredible advice from his mentors which included Roone Arledge, Michael Eisner, Tom Murphy, and Dan Burke - To tell great stories, you need great talent - Innovate or die – embrace the unknown, mediocrity thrives in familiarity - Relentless pursuit of perfection – do what you need to do to make it better - Be generous with your time be accessible

Read the full notes @ podcastnotes.org

Robert A. Iger is Executive Chairman of The Walt Disney Company and Chairman of the Board of Directors. He assumed the role of Executive Chairman in February 2020, having served as Chief Executive Officer since 2005. As Executive Chairman, Mr. Iger directs the Company’s creative endeavors, while leading the Board and providing the full benefit of his experience, leadership and guidance.

Over his 15 years leading the Company, Mr. Iger built Disney into one of the world’s largest and most admired media and entertainment companies, while focusing on the three fundamental pillars of his strategic vision: generating the best creative content possible; fostering innovation and utilizing the latest technology; and expanding into new markets around the world.

Mr. Iger has been named TIME’s Businessperson of the Year (2019); one of the “World’s Most Powerful People” by Forbes magazine (2018); one of the “Top Gun CEOs” by Forbes magazine (2009); one of Fortune magazine's “25 Most Powerful People in Business” (2006, 2007); one of the “Best CEOs” by Institutional Investor magazine (2008, 2009, 2010, 2011); MarketWatch CEO of the Year (2006); and “CEO of the Year” by Chief Executive (2014).

His new autobiography is titled The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of the Walt Disney Company, which offers stories and lessons about dealmaking, leadership, and much more.

Read the full distillation: https://whatgotyouthere.com/the-distillation-of-bob-iger/

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About What Got You There Podcast

What Got You There focuses on the journey behind some of the world’s most successful people, uncovering the strategy, tactics, and routines that helped them get there.

Sign Up to Momentum Monday is a weekly newsletter adding fuel to your inbox at the start of each week. Every

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Below the Line

Podcast Notes Key Takeaways * Discover what you think – enter every creative journey with an open/curious mind, let the experience formulate your lens * Greatness can be found in studying the actions of founders before they knew the outcomes of their actions * “Never let your ambition and ego cloud what you’re really made for”– Jim Collins + Personal Hedgehog = Passion + Economic Engine + Encoding (Self-Actualization) * Don’t fall into the curse of the competence doom loop + Competence and compensation are often illusions of life/work satisfaction + “The four-word prison: what will people think. The difference between a palace and a prison is who owns the key”– James Beshara * The most successful companies are not statistically luckier + It’s not about luck, it’s about return on luck. It’s what you do with your luck opportunity. + Time in life is unequal, your performance in a massively unequal opportunity is the differentiating variable to success * “What’s changing in your life?” > “How are you?” + This is an invitation to an open conversation – cut out the questions that don’t extend a conversation

Read the full notes @ podcastnotes.org

Today's episode is with one of the greatest business authors ever, Jim Collins. Jim is one of the most inspirational figures in James' career. Not only did he inspire James, but he also is one of James' fathers, favorite authors. This has formed a bond at a young age between the two and has helped form many ideas in James' head. James and Jim cover many topics today, in one of our longest podcasts ever recorded, they talk about a wide range of VERY useful topics for founders and creators. From, breaking down Jim's personal rubric on writing a book to how an idea turns into a book. Jim explains why it is important to keep turning the flywheel even when you feel like abandoning it. James and Jim, also speak about how great leadership, can take a company, far beyond what is projected on paper. Jim also explains the difference between Good and Great. To conclude the episode, Jim speaks about luck and how not only good luck is inevitable but so is bad luck, he explains how not all time in life is equal and how you should zoom in on the good luck and reevaluate the bad luck.

Find out more about Jim Collins here:

https://twitter.com/level5leaders

https://www.jimcollins.com/

Buy Jim's new book, Beyond Entrepreneurship 2.0.

(https://www.jimcollins.com/books/BE2.html)

https://bit.ly/Go_BelowtheLine

Hit the show hotline and leave a question or comment for the show at 424-272-6640, email James questions directly at askbelowtheline@gmail.com or follow us on Twitter @ twitter.com/gobelowtheline

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About your host, James:

James Beshara is a founder, investor, advisor, author, podcaster, and encourager based in Los Angeles, California. James has created startups for the last 12 years, selling one (Tilt, acquired by Airbnb), and invested in a few multi-billion dollar startups to date. He has spoken at places such as Y-Combinator, Harvard Business School, Stanford University, TechCrunch Disrupt, and has been featured in outlets like the New York Times, the Wall Street Journal, Fortune Magazine, and Time Magazine. He’s been featured in Forbes, Time, and Inc Magazine’s “30 Under 30” lists and advises startups all around the world. All of this is his “above the line” version of his background. Hear the other 90% of the story in the intro episode of Below The Line.

“Below the Line with James Beshara" is brought to you by Another Podcast Network.

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BiggerPockets Real Estate Podcast

Podcast Notes Intro * Co-hosts David Greene (@DavidGreene24) & Brandon Turner (@BrandonAtBP) discuss the books that positively influenced their real estate careers; but also, how they shaped their views on wealth and achieving true happiness + “It’s one thing to read a book, it’s another thing to put it into practice” – Brandon Turner

Read the full notes @ podcastnotes.org

Sometimes the best real estate books aren’t about real estate at all. Or at least, that’s what Brandon and David found out. After rummaging through their bookshelves, Brandon and David decided to give listeners their top ten books that allowed them to reach financial, spiritual, and personal success. Some of these books include classics you’ve heard mentioned on the show before, while others are centered more on human happiness, problem solving, or relationships.

What’s important to know is that these books can help anyone, no matter what stage of the investing journey they’re in. Whether you’re a veteran or rookie, reading a simple concept, sentence, or quote can fundamentally shift how you think about life and investing. Brandon also runs through a dozen more book recommendations at the end of this episode, so if you’ve already read through the top ten, hang around for that!

In This Episode We Cover:

Brandon and David’s top ten book list (for any type of investor!)

Understanding the different parts of the brain and using it to build better arguments and strengthen relationships

Tweaking the “rules of the game” you’re playing in relation to wealth and happiness

Taking on extreme ownership and using it to become a better leader

Developing confidence and how to do so when you’re feeling lost

Communicating more effectively and allowing others to see through your perspective

And So Much More!

Links from the Show

BiggerPockets Youtube Channel

BiggerPockets Forums

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BiggerPockets Podcast 500: Robert Kiyosaki: America’s ‘Rich Dad’ Sees a Real Estate Crash Coming

BiggerPockets Podcast 423: Who Not How: Stop Doing the Things You Hate, Free Up Time, Be Happier and Richer with Dan Sullivan

https://www.biggerpockets.com/show537

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Paradox Podcast

Podcast Notes Key Takeaways * “Work and life are finally coming into harmony, rather than balance” – John Andrew Entwistle + Wander is a network of company-owned smart homes designed to technologically optimize your vacation or a unique work-from-home experience - It isn’t a marketplace like AirBnB. Wander owns every part of the experience so they can actively respond to consumer demands and add updates through smart technology - At scale, Wander’s goal is to create an affordable experience at the intersection of life, work, and travel; potentially posing as a feasible alternative to rent * Progress compounds. Failing fast can sometimes provide more insights in the long run than succeeding slowly + “Time is not your friend” – John Andrew Entwistle + Speed is the number one advantage that a start-up offers * John Andrew spent months trying to understand how his business model for Wander would fail, not how it would succeed + This way he was able to address key risks/pitfalls early on – humans have a unique ability to see into the future given the right perspective * “We control how we interpret the world and how it affects us, even though it doesn’t always feel like that”– John Andrew Entwistle + John Andrew had a childhood mantra of ‘the worst thing that can happen is that you’ll die + Maintaining perspective is essential for making progress

Read the full notes @ podcastnotes.org

LIMITED-TIME OFFER: Go to wander.com/kyle, download the app and create an account to enter to win a free Wander Trip and you can also become a Wander Founding Member for $100 and unlock benefits like:

• Get $100 credited toward your first stay

• Limited edition founding member hoodie

• Early access to Wander Homes before everyone else

• A potential opportunity to invest in the company

For episode #19, I chatted with John Andrew Entwistle, founder and CEO of Wander.com, about the challenges of starting and scaling companies, building the future of life, work and travel, cultural pitfalls in early-stage startups, the importance of writing down life lessons and how immigrants can save America. Prior to starting Wander, John Andrew was the CEO and Co-Founder of Coder.com, on the Forbes 30 under 30 list and a Thiel Fellow.

This is a very special episode because a few weeks back I announced that I joined Wander’s founding team as CMO after initially investing in the company back when Wander was just John Andrew, an idea and an incredible domain. You might be wondering – what is Wander? It’s a network of smart homes in inspiring places that you can book for you next workcation, vacation or anything in between and control every aspect of the experience from your smartphones — from unlocking the door to setting the temperature to turning on the fireplace to adjusting lights and even accessing the Tesla in the garage. Our approach is entirely different from traditional travel options because we own and operate 100% of the homes on our platform and we believe that by owning both the bits and the atoms we can deliver a truly superior guests experience.

We just launched last week and want our early believers to join us on the ground floor. For a short period of time, you can become a Wander Founding Member for $100 and unlock benefits like:

• Get $100 credited toward your first stay

• Limited edition founding member hoodie

• Early access to Wander Homes before everyone else

• A potential opportunity to invest in the company

We’re also giving away a free Wander Trip for you and up to 3 friends for 3 nights. Just go to wander.com/kyle download our app and create an account to enter for free. This episode is a little different than most in all the right ways. I hope you enjoy this conversation with John Andrew Entwistle.

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Infinite Loops

Podcast Notes Key Takeaways * “There’s this general idea that’s familiar, which is poor people buy status, rich people buy time, which becomes the status” – Alex Danco + Breastfeeding is the cheapest option for feeding a newborn but at the same time it’s incredibly expensive because it costs you your time * Sometimes people get competitive with each other to exhibit status. + They do it through proxies. For example, parents use their children + This kind of status signaling intensifies as children go through high school * Canada does not have the concept of Ivy League, but they have the concept of good schools * There is still pressure to get into the best schools in Canada but less so than in the US + “…college is now not about the four years of college, it’s about the 15 years you spend preparing to get into college. Once you’re there, it’s over”– Alex Danco * COVID accelerated the move to the digital world. Jim calls this the great reshuffle + People no longer have to move to get a job, the idea of the old-style CV will change * The long term impact of covid will be heterogeneous- different outcomes for different countries

Read the full notes @ podcastnotes.org

Our recurring guest, Alex Danco, returns to Infinite Loops for his fourth appearance to discuss:

• Books on social hierarchies
• Expensive in time vs. money
• Schooling in Canada vs. the USA
• The Great Reshuffle
• Long term impact of COVID
• And MUCH more!

Follow Alex on Twitter at https://twitter.com/Alex_Danco and read his amazing essays at https://alexdanco.com/