Founders

#362 Li Lu

313 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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ANECDOTE

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.
ADVICE

Carnegie's Cost Obsession

  • Control costs strictly, even during prosperous periods.
  • Savings achieved in costs are permanent, unlike fluctuating profits.
ANECDOTE

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.
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