The Story of McDonald's: Origins and Innovations

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Today’s show:

Lon Harris sits down with Jason to examine product-market fit and market-pull and their role in McDonalds' success (21:11), the importance of complementary skill sets between founders within any startup.(32:41), the path of doubt, fear and uncertainty that founders experience (45:29), and more!

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Timestamps:

(0:00) Lon Harris joins Jason

(3:35) Lon brings us quick hits on the film The Founder.

(9:30) Lon shares his admiration for the film

(10:16) Jason discovered the film through a curious link with Mark Knopfler.

(12:02) Curotec - Check out http://www.curotec.com/twist and get $5000 off

(16:00) Delving into the McDonalds' story

(17:47) Discussion on a common entrepreneurial revelation: efficiency and customer focus

(21:11) Examining product-market fit and market-pull in "The Founder" and its role in McDonalds' success.

(24:09) Northwest Registered Agent - Get a 60% discount on your next LLC at http://www.northwestregisteredagent.com/twist

(25:36) Building a series of innovations will create enormous value.

(27:35) Ray Kroc takeaway: the pursuit of relentless self-improvement on the way to his one big win.

(32:41) The importance of complimentary skill sets between founders within any startup.

(34:25) Masterworks - Skip the waitlist to invest in fine art at https://www.masterworks.com/twist

(35:43) Exploring strengths and criticisms of the franchise model.

(41:36) The role of spouses in startup formation

(45:29) The path of doubt, fear and uncertainty that founders experience before any winning.

(49:54) Lessons around deal-making and negotiation.

(1:00:07) The power struggle between the McDonald brothers and Ray Kroc

(1:02:43) Discussing the significance of equity and stock ownership in business

(1:08:26) Ray Kroc’s brilliance came from his power to observe value and opportunity.

(1:16:51) Business Breakdown Awards for “The Founder”

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Thanks to our partners:

(12:02) Curotec - Check out http://www.curotec.com/twist and get $5000 off

(24:09) Northwest Registered Agent - Get a 60% discount on your next LLC at http://www.northwestregisteredagent.com/twist

(34:25) Masterworks - Skip the waitlist to invest in fine art at https://www.masterworks.com/twist

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Follow Lon:

X: https://twitter.com/Lons

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Follow Jason:

X: https://twitter.com/jason

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

LinkedIn: https://www.linkedin.com/in/jasoncalacanis

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Great 2023 interviews: Steve Huffman, Brian Chesky, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland

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Check out Jason’s suite of newsletters: https://substack.com/@calacanis

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Follow TWiST:

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Twitter: https://twitter.com/TWiStartups

YouTube: https://www.youtube.com/thisweekin

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Subscribe to the Founder University Podcast: https://www.founder.university/podcast