Today's Flashback Friday is from episode 397, published last August 8, 2014.

Rich Karlgaard is Publisher of Forbes magazine and columnist for Forbes' "Innovation Rules." He's the author of, "The Soft Edge: Where Great Companies Find Lasting Success."

Karlgaard has been publisher at Forbes since 1998. He discusses how the business model of Forbes Magazine has evolved since the disruption of the Internet and digital media. Karlgaard explains what Forbes is doing to compete with the online players in business information, such as Agora Publishing and the Motley Fool.

Karlgaard then talks about the pluses and minuses of hiring passionate people and how hiring managers can identify passion. He describes how destructive cynicism can be to a corporate culture and how companies can better incorporate trust.

Rich Karlgaard, angel investor, board director and Wall Street Journal best-selling author, is the longtime publisher of Forbes magazine.

He also writes the Forbes column, "Innovation Rules," which is known for its witty assessment of business and technology. Karlgaard has been a regular panelist on television's Forbes on FOX show since its inception in 2001.

Karlgaard is also a serial entrepreneur. He has launched two magazines (Upside and Forbes ASAP), the venture capital firm Garage Technology Ventures and Silicon Valley's premier business and technology forum, 7500-member Churchill Club. He is a past winner of the Ernst & Young "Entrepreneur of the Year" award.

Karlgaard was raised in Bismarck, North Dakota, and graduated from Stanford University. He lives with his family in Silicon Valley.

Key Takeaways:

2:36 Analysis of the Impact of Deflationary Monetary Policy on Savers and Borrowers 04:39 Exploring the Benefits of Deflationary Investing Strategies 08:56 Impact of Inflation on 1984 Cost of Living 10:45 Analysis of Real-World Inflation: 1984 vs. Present Day 13:09 Interview with Rich Karlgaard: Exploring the Benefits of Investing for Inflation and Deflation 15:40 Investigating the Soft Edge 17:21 The Triangle of Company Health: Exploring Strategy, Execution, and Cultural Values with FedEx Chairman Fred Smith 20:13 Exploring the Impact of Cultural Values on Business Success: A Case Study of Northwestern Mutual 25:18 How Empathy and Treating Employees Well Can Lead to Success 28:22 "Exploring the Soft Edge: Career Strategies for Success" 30:13 Conversation on the Power of Storytelling in Business 31:22 Conversation on the Hero's Journey Narrative and Authenticity in Storytelling 33:07 Conversation with Pilot and Author, John U. Bacon, on Cirrus Aircraft and Flight Metaphors 35:47 Exploring Life 2.0: Flying Around the Country to Find Promising Entrepreneurs 37:40 "The Benefits of Geo-Arbitrage: How Greg G. and 40 Found Success in Bozeman, Montana" 38:58 The Benefits of Starting a Software Company Outside of Silicon Valley 44:00 The Impact of Real Estate Prices on Quality of Life and the Transformation of Silicon Valley 46:18 Conversation on the Evolution of Silicon Valley and Forbes Magazine 48:34 Leveraging the Forbes Brand for Global Expansion 51:41 The Dangers of a Real Estate Bubble in San Francisco 53:34 Cash Flow Investing and Creating Wealth

Visit Forbes at www.forbes.com.

Find out more about Rich Karlgaard at www.richkarlgaard.com.

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