Founders

What I learned from reading Coco Chanel: Her Life, Her Secrets.

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It is my work I am congratulated on, and to me, that's the only thing that counts (0:01)

I've been miserable in a life that from the outside seemed magnificent (4:15)

The maxims of Coco Chanel (6:43)

Coco on marketing (13:22)

Coco's early life (15:15)

My need for independence began to develop when I was very young. (18:53)

Coco Chanel at 20 (28:15)

the beginning of her empire (34:00)

I have nothing and I know I can do anything. (37:00)

relentlessly resourceful / a metaphor on how to create opportunity (41:04)

Coco goes to war for her profits - and wins (48:45)

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Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. 

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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

What I learned by from reading The King of Oil: The Secret Lives of Marc Rich by Daniel Ammann.

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The spot market for oil was one of the most lucrative ideas of the twentieth century. [0:01]

the historical events intertwined with the career of Marc Rich [5:15]

how his family escapes the Nazi's [12:00]

his first jobs + learning from his father + finding his vocation [14:30]

learning the commodities business from A to Z [20:00]

his work environment was training for entrepreneurship + how he thought about the opportunity in oil [30:30]

Marc gets screwed on pay so he starts his own company [35:00]

why Marc chose Switzerland as the headquarters of Marc Rich + Co. [37:00]

why the invention of the spot market was important [43:00]

why Marc Rich thought he was exempt from Jimmy Carter's executive order [46:15]

the state of his business in 1990 [1:01:00]

how to lose $172,000,000 [1:14:00]

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Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. 

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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

What I learned from reading The Autobiography of Benjamin Franklin by Benjamin Franklin. 

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[0:01] Why Ben Franklin wrote an autobiography

[4:50] Ben Franklin's early education and first job 

[7:30] starting out in the printing business 

[11:00] Writing had been of great use to me in the course of my life, and was a principal means of my advancement 

[16:45] his humble arrival in Philadelphia 

[25:00] Ben Franklin's time in London 

[29:00] how the mind of Benjamin Franklin worked 

[34:30] the opportunity to start your his own business

[41:15] industry is virtuous 

[46:20] Ben understood branding 

[48:15] Ben Franklin creates the first subscription library 

[54:30] Ben Franklin's 13 virtues

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Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. 

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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

What I learned from reading The Box: How the Shipping Container Made the World Smaller and the World Economy Bigger.

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Such was the beginning of a revolution [0:01]

The economic benefits arise not from innovation itself, but from the entrepreneurs who eventually discover ways to put innovations to practical use. [15:30]

the basic idea was around for decades [17:30]

Malcom's early life and first business [23:00]

McLean had an obsessive focus on cutting costs [33:00]

the beginning of Malcom McLean's idea [37:00]

McLean's definition of total commitment [41:00]

McLean's fundamental insight [48:00]

fixing the business by focusing on the customer's real problem [53:40]

the surprising reason containers are standardized [1:00:00]

Daniel K. Ludwig and Malcom McLean [1:07:00]

Malcom McLean sells his business [1:13:00]

Starting another business [1:21:00]

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Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. 

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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

What I learned from reading The Responsible Company: What We've Learned From Patagonia's First 40 Years by Yvon Chouinard and Vincent Stanley.

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When I die and go to hell, the devil is going to make me the marketing director for a cola company. I’ll be in charge of trying to sell a product that no one needs, is identical to its competition, and can’t be sold on its merits. (0:01)

What Patagonia was meant to be (8:25)

Everyone wants to feel useful (11:00)

a short history of companies (14:30)

the definition of meaningful work (26:00)

more human, less corporate (40:30)

Yvon's ancestors and their working conditions (46:00)

the benefits of long term thinking (49:00)

build something useful and don't bullshit (57:00)

Don't do things that have no useful purpose / being bold can lead to new discoveries / we need more small businesses (1:04:00)

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Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. 

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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

What I learned from reading Hughes: The Private Diaries, Memos and Letters; The Definitive Biography of the First American Billionaire.

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He was a film director, a producer, a test pilot, inventor, investor, and entrepreneur [0:01]

the start of Hughes Tool Company [13:00]

during a gold rush sell pickaxe's / great idea about leasing drill bits [19:00]

Howard Hughes Jr is on his own at 18 years old [26:00]

starting out in the movie business [32:00]

his first plane crash/divorce [38:00]

Howard Hughes goes broke [48:00]

Howard Hughes breaks the world record for the fastest flight around the world / Hitler was always an asshole [56:00]

Henry Kaiser and the birth of The Hercules [1:05:00]

his 4th plane crash and descent into madness [1:14:00]

Howard Hughe's M.O. on corruption and bribes [1:26:00]

I am not really interested in people. I am interested in science. –Howard Hughes [1:29:00]

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Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. 

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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

What I learned from reading Enough: True Measures of Money, Business, and Life by John Bogle 

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Gentlemen, cut your costs. [4:00]

the benefits of being forced to work early on in life [7:00]

I'll never forget the inspiration when I read this quote: The force of his mind overcame his every impediment. [9:30]

the traits he needed to found Vanguard [12:00] 

what John thinks we should be doing better [13:30]

create things that help other people/Charlie Munger [17:30]

When a business fails people want to know their revenue. I want to know their costs [19:30]

the past is not a prologue in the financial markets... please, please, please don't count on it. [23:00]

Einstein well understood the limits of quantification / the way we act and the way we measure are in conflict [26:00]

Show me the incentive and I will show you the outcome. –Charlie Munger / If you get the incentives right when you start the company you will grow. [35:00]

A rule of life: Press On, Regardless [39:00]

10 reasons why I bother to battle [44:00]

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Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. 

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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

What I learned from reading Stay the Course: The Story of Vanguard and the Index Revolution.

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This is a story of a revolution [0:01]

what Vanguard does and why? [7:00]

the seed of the idea that eventually becomes Vanguard [10:00]

switching from conservative investing to speculation / when humans are scared they copy the behavior of those around them [17:00]

John gets fired. He decides to fight back. [31:00]

if you know why you are doing what you are doing you are less likely to quit [41:00]

staying the course gives you a massive advantage because most humans quit [53:00] 

We must never underrate the power of compounding investment returns, and always avoid the tyranny of compounding investment costs.– John Bogle [59:00]

eliminating the 50-year tradition of sales commission [1:01:00]

a failure caused by focusing on competition and not learning from the past [1:06:00]

the Founders Mentality [1:07:30]

personal reflections and a memoir of sorts [1:11:00]

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Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. 

----

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

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

What I learned from reading Nuts!: Southwest Airlines' Crazy Recipe for Business and Personal Success

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Reality is chaotic; planning is ordered [0:01]

Vince Lombardi is the Steve Jobs of coaches [3:48] 

how Southwest Airlines is different [11:31]

the beginning of Southwest [16:00]

fighting anticompetitive practice [24:30] 

finding a new market by doing the opposite of your competition [29:00] 

missionaries make the best products [31:00]

being forced to innovate leads to questioning assumptions which leads to finding new markets [34:00]

how Southwest became the largest liquor distributor in Texas [38:00] 

remember your fundamental reason for being and don't deviate from that [40:45]

optimize for profits, not market share [42:30]

know what you are competing with - not who [44:15] 

how having only one type of airplane gives Southwest an advantage [46:30] 

how keeping it simple saved Southwest $2 million [51:30]

know what you do best - have the discipline to stick to it [53:00] 

if you are going to be small you have to be fast [1:01:19]

the benefits of curiosity are unpredictable [1:03:45]

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Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. 

----

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

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