Founders #362 Li Lu
329 snips
Aug 26, 2024 Li Lu's extraordinary life story unfolds from a brutal childhood marked by poverty and abuse to becoming a trusted confidant of Charlie Munger. His relentless quest for knowledge transforms his destiny, with books serving as a lifeline. The discussion delves into the harrowing events surrounding Tiananmen Square and his eventual escape to New York. Insights into his investment philosophy and the influences of Warren Buffett and Munger provide a rich backdrop to his remarkable journey.
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Mackey's Whole Foods Regret
- John Mackey said Founders Podcast would've saved Whole Foods.
- He'd have prioritized expense control more, especially in good times.
Carnegie's Cost Obsession
- Control costs strictly, even during prosperous periods.
- Savings achieved in costs are permanent, unlike fluctuating profits.
Li Lu's Story
- Li Lu's book, Moving the Mountain, details his difficult life in China.
- Charlie Munger turned an $80 million investment with Li Lu into $400-500 million.
