Founders

What I learned from reading George Lucas: A Life by Brian Jay Jones. 

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Lucas unapologetically invested in what he believed in the most: himself.

“What we’re striving for is total freedom, where we can finance our pictures, make them our way, release them where we want them released, and be completely free to express ourselves,” explained Lucas. “That’s very hard to do in the world of business. In this country, the only thing that speaks is money and you have to have the money in order to have the power to be free.”

George looked at it like a businessman, saying, ‘Wait a minute. The studios borrowed money, took a 35 percent distribution fee off the top. This is crazy. Why don’t we borrow the money ourselves?' Some of the bravest and/or most reckless acts were not aesthetic, but financial.

My thing about art is that I don’t like the word art because it means pretension and bullshit, and I equate those two directly. I don’t think of myself as an artist, and I don’t think I ever will. I’m a craftsman. I don’t make a work of art; I make a movie. 

You couldn’t pay me enough money to go through what you have to go through to make a movie. It’s excruciating. It’s horrible. You get physically sick. I get a very bad cough and a cold whenever I direct. I don’t know whether it’s psychosomatic or not. You feel terrible. There is an immense amount of pressure, and emotional pain. But I do it anyway, and I really love to do it. It’s like climbing mountains.

I was seriously, seriously depressed at that point because nothing had gone right. Everything was screwed up. I was desperately unhappy. That was a very dark period for me. We were in dire financial straits. I was in debt to my parents, in debt to Francis Coppola, in debt to my agent; I was so far in debt I thought I’d never get out.

He was fascinated not only by Scrooge McDuck’s exploits but also by his conniving capitalist ways. “Work smarter, not harder,” was Scrooge’s motto, and his stories were full of inventive schemes that, more often than not, made him even richer and more successful. In Scrooge’s world, hard work paid off, yes — but so did cleverness and a desire to do something in a way no one had ever thought of before. The lessons Lucas learned from Uncle Scrooge would shape the kind of artist and businessman he would become in the future: conservative and driven, believing strongly in his own vision and pursuing it aggressively.

I sit at my desk for eight hours a day no matter what happens, even if I don’t write anything. It’s a terrible way to live. But I do it; I sit down and I do it. I can’t get out of my chair until five o clock or five-thirty. It’s like being in school. It’s the only way I can force myself to write. Most days, no words would be written at all. At 5:30 he would tromp downstairs to watch the evening news, glaring with anger over a TV dinner as he stewed about the blank pages he’d left upstairs.

Sitting next to him was a thirty-one-year-old independent filmmaker from northern California named John Korty. When he digressed into the details of his filmmaking Lucas really took an interest. For the past three years, Korty had been running his own filmmaking facility out of his barn at Stinson Beach, a small ocean resort town just north of San Francisco. He had privately raised the $100,000 for Crazy Quilt by hitting up friends, colleagues, and even his actors for money, shot the movie locally, then edited it on his own equipment. At the film’s premiere, it received a lengthy standing ovation, and Hollywood executives fell over themselves scrambling to distribute it and recruit Korty. But Korty was having none of it. “From what I saw of Hollywood, they can keep it right now,” Korty said. “I would rather work for myself. In Hollywood you have a producer breathing down your neck. Here in northern California I am happier working with less money. The risk of failure is far less . We can complete a film in maybe a year, getting the results we want.” This was exactly what they had in mind for themselves. “Korty inspired us both,” said Coppola. “He was a real innovator.”

How many people think the solution to gaining quality control, improving fiscal responsibility, and stimulating technological innovation is to start their own special effects company?” Ron Howard said admiringly. “But that’s what he did.”

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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 Creativity Inc: Overcoming The Unseen Forces That Stand In The Way of True Inspiration by Ed Catmull. 

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Lead with a light touch (18:59)

Anchor yourself with your why (23:35)

Bet on yourself (39:54)

Decentralize problem-solving (52:56)

People are more important than ideas (1:00:45)

Analyze ways to improve your process after a project is complete (1:24:10)

Keep a startup mentality (1:26:36)

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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 Levi Strauss: The Man Who Gave Blue Jeans to the World by Lynn Downey

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[0:01] Levi was one of the men who set that firm foundation

[17:35] I do not have at this time a specific occupation...I will share the fate that has been assigned to me

[22:29] Enduring hardship for the ultimate goal

[29:24] A hole in the market

[42:00] Levi starts his business cold

[54:18] The dangers of shipping by sea

[1:04:42] Inventing Jeans by accident

[1:10:00] Overnight success 20 years in the making

[1:17:40] How Levi was able to serve customers who were illiterate or spoke another language

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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 Alibaba: The House That Jack Ma Built by Duncan Clark. 

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Crazy Jack (0:01)

The internet is filling the void created by state planning (6:59)

Jack has made a career out of being underestimated: “I am a very simple guy. I am not smart. I might have a smart face but I’ve got very stupid brains.” (20:35)

Jack’s early life / Discipline and Curiosity (24:43)

Jack Magic: “ Nobody saw the opportunity in this business. We didn’t make much money at first, but Jack persevered…I respect him tremendously for he has a a great ability to motivate people and he can invest things that seem hopeless with exciting possibility. He can make those around him get excited about life.” (40:00)

Jack’s first time on the Internet (47:06)

Another lucky break: Meeting Yahoo Founder Jerry Yang (55:45)

Making money from shrimp (57:02)

The worst deal he ever made (1:00:43)

Masayoshi Son: Founder of Softbank (1:04:45)

Be the last man standing (1:10:16)

Ebay vs Alibaba: A case study in what not to do (1:13:32)

Yahoo’s billion-dollar bet (1:23:00)

Jack’s unique reaction to the financial crisis (1:27:00)

Alipay’s ownership changes / One of the craziest stories I’ve read (1:33:12)

If I had another life, I would keep my company private (1:46:10)

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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 Conspiracy: Peter Thiel, Hulk Hogan, Gawker, and the Anatomy of Intrigue and Zero to One: Notes on Startups, or How to Build the Future

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Culture Eats Strategy [1:45]

Conspiracy as a metaphor for a company [3:56]

It is a story of poetic justice on a grand scale plotted silently for nearly a decade [6:02]

Something in these pages planted itself deep into Thiel's mind when he first read it long ago [15:25]

It was ruthless efficiency and hyper-competence. [21:40]

You were driven to entrepreneurship because it was a safe space from consensus and from convention. [34:36]

What if I do something about this? What might happen? What might happen if I do nothing? Which is riskier, to act or to ignore? [38:52]

Sometimes these books teach us what not to do. [59:06]

Unknown unknowns > known knowns [1:11:10]

How you do one thing is how you do all things. [1:25:47]

He had always been aggressive. He wouldn't have gotten where he was in life if he wasn't. [1:30:35]

Companies routinely focus on silly things. [1:32:38]

The greatest sin of a leader.[1:37:17]

How resourceful is Peter Thiel?[1:41:37]

Just keep asking why.[1:47:29]

Gentlemen: You have undertaken to cheat me. I won't sue you for the laws too slow. I'll ruin you. Yours truly, Cornelius Vanderbilt. [1:53:37]

Brilliant thinking is rare but courage is even in shorter supply [1:58:50]

The business version of our contrarian question is: What valuable company is nobody building? [2:01:39]

This Twisted logic is part of human nature, but it's disastrous in business. If you can recognize competition as a destructive force instead of a sign of value, you're already saner than most. [2:16:11]

Steve Jobs saw that you can change the world through careful planning. Not by listening to focus groups feedback or copying others success. [2:19:53]

You can have agency not just over your own life, but over a small and important part of the world. It begins by rejecting the unjust tyranny of chance. [2:21:05]

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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 Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future by Ashlee Vance. 

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I don't want to be the person who ever has to compete with Elon (0:47)

Musk expects you to keep up (2:45)

Short of building an actual money-crushing machine, Musk could not have picked a faster way to destroy his fortune. He became a one-man, ultra-risk-taking venture capital shop (4:41)

Revisit old ideas (5:22)

It was not unusual for him to read ten hours a day (7:49)

His approach to dating mirrors his approach to work (9:32)

Humans are deeply mimetic (10:59)

Thinking from first principles (14:37)

What it is like to work with Elon Musk (17:40)

He would place this urgency that he expected the revenue in ten years to be ten million dollars a day and that every day we were slower to achieve our goals was a day of missing out on that money (19:28)

What he went through in 2008 would have broken anyone else. He didn't just survive. He kept working and stayed focused (23:29) 

A tenet of Elon's companies: make as many things yourself as possible (25:39)

The power of the individual in an age of infinite leverage (27:31)

The Internet taught me nearly everything I know. It is the modern day equivalent to the library of Alexandria, except it's much harder to burn to the ground. It is indispensable for realizing human rights, combating inequality, accelerating development, and quickening the pace of human progress (29:37)

Focusing on the endpoint (30:19)

Grand Theft Life (32:00)

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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 HP Way: How Bill Hewlett and I Built Our Company by David Packard.

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[0:01] How Steve Jobs was inspired by David Packard

[1:00] Books are the original hyperlinks

[4:30] Profit is the measure of how well we work together

[9:00] HP's first product

[11:00] Podcasts before podcasts

[14:00] Many of the things I learned in this process were invaluable, and not available in business schools

[15:00] More businesses die from indigestion than starvation

[16:30] The importance of maintaining a narrow focus

[20:00] Growth from profit

[21:00] Lessons from the Great Depression = No long term debt

[26:30] A Maverick's persistence

[29:00] How to avoid layoffs in a recession

[30:20] Employees should outgrow you

[31:00] The perils of centralization

[35:00] Closing with optimism

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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 The Wright Brothers by David McCullough

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Unyielding determination (2:30) 

Jocko's concept of GOOD (4:00)

The ability to focus on an idea for a long time is the antidote to short bursts of dopamine we get from checking social feeds all day. (6:30)

The beginning of their side business (13:00)

The importance of heroes (16:00)

Rereading / revisiting old ideas (18:30)

Books transformed idle curiosity into the active zeal of workers (22:00)

Wilbur Wright on risk: “The man who wishes to keep at the problem long enough to really learn anything positively must not take dangerous risks. Carelessness and overconfidence are usually more dangerous than deliberately accepted risks.” (24:30)

Jeff Bezos on stress (25:00)

Discover things for yourself (28:00)

"Success it most certainly was." (31:00)

Profitability of flying machines (33:30)

The distribution channel of flying machines (35:00) 

Wilbur Wright on the idea of flight: "In the enthusiasm being shown around me, I see not merely an outburst intended to glorify a person, but a tribute to an idea that has always impassioned mankind. I sometimes think that the desire to fly after the fashion of birds is an ideal handed down to us by our ancestors who, in their grueling travels across trackless lands in prehistoric times, looked enviously on the birds soaring freely through space, at full speed, above all obstacles, on the infinite highway of the air." (38:00)

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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 A Truck Full of Money: Coding, Mania, Love, Genius: The Life of an American Entrepreneurby Tracy Kidder

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[7:00] Kayak sells for $1.8 billion

[12:00] "I'm paying attention. I want meetings of three people, not ten."

[15:00] "Someday this boy's going to get hit by a truck full of money, and I'm going to be standing beside him."

[22:30] A description of Paul's bipolar disorder

[31:00] The economics of games

[36:30] Learning how to negotiate from his Dad

[43:00] "The Internet has massively broadened the possible space of careers. Most people haven't figured this out yet."

[50:00] Leaving a $1,000,000 behind

[55:00] Applying the lessons he learned from watching his Dad negotiate

[58:30] The entrepreneur of ice

[1:01:00] "Consistency doesn't matter. Only invention matters."

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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 My Life and Work: The Autobiography of Henry Ford.

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A theory of business (0:01)

If an old idea works then the weight of the evidence is all in its favor. The Lindy Effect. (7:30)

All people are not equal (11:00) 

"That is why I never employ an expert in full bloom" (15:00), "I quit my job on August 15th, 1899 and went into the automobile business" (19:30)

Henry Ford's philosophy on constant change (25:00)

Henry Ford's 3 conclusions about business (26:00)

Traits of a prosperous business (29:45)

I cannot discover that anyone knows enough about anything on this earth definitely to say what is and what is not possible. .We get some of our best results from letting fools rush in where angels fear to tread. (34:00)

Fix the problem. Do not think money will be the solution. (40:00)

Overcome fear. Be free. (44:00)

Fuck your feelings (52:30)

Henry Ford's 4 principles of business (56:00)

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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