The Tim Ferriss Show

#682: Bill Gurley Interviews Tim Ferriss — Reflecting on 20+ Years of Life and Business Experiments

Jul 19, 2023

A legendary investor interviews a well-known entrepreneur, diving deep into two decades of lessons in technology, business, and podcasting. They discuss the importance of patience, effective communication, and personal growth. Listeners explore the journey from academia to tech, the evolution of a successful podcast, and the power of direct audience engagement through newsletters. Insights on the lean podcast landscape and automation for business compliance highlight innovative strategies. This conversation reveals the transformative power of new beliefs and creative pursuits.

01:05:38

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Quick takeaways

Spotify's heavy investment in podcast acquisitions was a smart strategic move to acquire talent and fold in existing audiences.

Twitter's open DMs feature reduces the barrier to communication and provides a more direct and casual means of contacting potential podcast guests.

LinkedIn is witnessing a resurrection as a powerful platform for content distribution and is expected to experience growth in its role as a podcast promotion platform.

Deep dives

Podcast acquisitions and the strategy behind it

Spotify's heavy investment in podcast acquisitions, such as Joe Rogan's and Bill Simmons' shows, was a smart strategic move to acquire talent and fold in existing audiences. As they become a more significant player in the podcasting space, it's expected that they would back off from acquiring talent to focus on leveraging their position and attracting high-profile creators naturally.

Learning to Wait: A New Habit for Problem Solving

00:34

Studying and Learning from Hardcore History Podcast. Outliers break dogma. Experiment 1st.

01:35

How to Increase Optionality for Fortune or Luck

02:44

LinkedIn's Resurrection and the Importance of Focus

01:24

Intro

4min

A Journey of Growth and Investment

18min

Navigating Creative Evolution

13min

The Power of Direct Audience Communication

4min

Navigating the Lean Podcast Landscape

21min

Embracing Patience and Effective Communication

4min

Automating Compliance for Business Growth

2min

Brought to you by Eight Sleep’s Pod Cover sleeping solution for dynamic cooling and heating, Secureframe automated security and privacy compliance platform, and AG1 all-in-one nutritional supplement.

Welcome to another episode of The Tim Ferriss Show, where it is usually my job to deconstruct world-class performers to tease out the routines, habits, et cetera that you can apply to your own lives.

This is a special episode and a turning of the tables. This time, legendary investor Bill Gurley interviews me, and the recording is from earlier this year at SXSW in Austin, TX. The conversation explores some of my lessons learned and favorite findings over the last two decades in areas like entrepreneurship, tech, and podcasting. I throw in some favorite books and other spice to keep things interesting.

Bill Gurley (@bgurley) has spent more than 20 years as a general partner at Benchmark. Before entering the venture-capital business, Bill spent four years on Wall Street as a top-ranked research analyst, including three years at Credit Suisse First Boston. Over his venture career, he has worked with such companies as GrubHub, Nextdoor, OpenTable, Stitch Fix, Uber, and Zillow.

For more takeaways from his incredible investing career, you can find my interview with Bill at tim.blog/billgurley.

As a side note, my 2007 SXSW speech that I mention in the interview is what started it all, in many senses. It’s what put my first book, The 4-Hour Workweek, on the radar of influential bloggers and bigger media outlets, ultimately landing it on The New York Times Best Sellers list, where it stayed, more or less, for the next seven years. It’s been a wild ride.

You can hear that 2007 presentation at tim.blog/sxsw.

One last thing: Hugh Forrest, if you’re listening, thank you again for giving me a shot way back in the day!

Please enjoy!

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[06:32] From Princeton to podcasting.

[07:39] How a disenchanted entrepreneur became a reluctant author.

[14:22] Angel investing and The 4-Hour Body.

[16:40] Investing rulesets and takeaways.

[19:09] How a choice location maximizes serendipity.

[20:42] Why did I back away from angel investing?

[22:28] Entering the blogosphere.

[27:02] Why podcasting?

[28:33] Early and enduring lessons for improving the craft.

[31:37] What makes a successful podcaster?

[34:57] The power of direct communication with one's audience.

[38:48] Leveraging a lean infrastructure.