Private Equity Podcast: Karma School of Business Private Equity Leaders' Best Business Books of 2025
Dec 31, 2025
In this engaging discussion, guests Casey Myers, a former operating partner and CEO, Micah Dawson, a private equity leader, Ran Ding, an investor, and Chris Scullin, a business executive, share their must-read business books for 2025. Topics include the shift from achievement to fulfillment, the importance of focusing on experiences over money, and capital allocation strategies from top CEOs. They also explore mindset adjustments through stoicism and adapting to dynamic competition, providing invaluable insights for ambitious professionals.
20:59
Shift From Building To Teaching
- Career fulfillment shifts from building to teaching as you age and your strengths change.
- Arthur C. Brooks frames this as moving from fluid to crystallized intelligence for lasting purpose.
Spend On Experiences Before Time Runs Out
- Prioritize experiences over hoarding money because you'll likely run out of time or health before money.
- Plan life around doing desired activities earlier rather than saving everything for old age.
Compound Your Time And Skills
- Compounding applies beyond money to skills, relationships, and chosen activities over long time horizons.
- Scott Galloway prompts deliberate choices about what you let compound across decades.
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Intro
00:00 • 1min
From Strength to Strength: shifting to teaching
01:05 • 50sec
Build the Life You Want: practical happiness
01:55 • 48sec
Die With Zero: prioritize time over money
02:42 • 1min
The Algebra of Wealth: compounding beyond money
03:52 • 2min
The Brothers Karamazov: timeless human themes
05:56 • 32sec
The Heart's Invisible Furies: identity and belonging
06:28 • 54sec
The Outsiders: elite capital allocation
07:23 • 2min
The Obstacle Is the Way: mindset for challenges
08:54 • 1min
Ad break
10:10 • 48sec
The Innovator's Dilemma: adapt to changing competition
10:58 • 1min
The Happiness Hypothesis: science meets tradition
12:23 • 1min
The One Thing: focus to escape the treadmill
13:49 • 1min
The Second Mountain: service over achievement
15:10 • 1min
12 Hours Sleep: practical sleep training
16:19 • 2min
Traction: operating system for companies
18:11 • 38sec
Who Moved My Cheese?: embrace change
18:49 • 51sec
Outro
19:40 • 60sec
#69931
12 hours sleep by 12 weeks old
Susie Giordano
#34
• Mentioned in 271 episodes
Die with Zero
Bill Perkins
Die with Zero presents a provocative philosophy and practical guide on how to get the most out of your money and your life.
Bill Perkins argues against over-saving and under-living, advocating for investing in experiences early and maximizing positive life experiences.
The book introduces concepts like 'time-bucketing,' 'net worth curve,' and 'fulfillment curve' to help readers optimize their life stages and make the most of their resources.
Drawing from his own life experiences and insights from psychological science and behavioral finance, Perkins makes a compelling case for living large and accumulating memorable experiences rather than wealth.
#10
• Mentioned in 419 episodes
The obstacle is the way
Ryan Holiday
In 'The Obstacle Is the Way', Ryan Holiday presents a framework for turning obstacles into successes.
Drawing from the philosophy of Stoicism and the writings of Marcus Aurelius, Holiday outlines three disciplines: perception, action, and will.
He illustrates these principles with historical anecdotes from figures such as John D. Rockefeller, Amelia Earhart, Ulysses S. Grant, and Steve Jobs.
The book emphasizes the importance of perception in shaping one's response to obstacles, the need for intentional and creative action, and the cultivation of will to persist through challenges.
Holiday argues that by adopting these Stoic principles, individuals can transform their obstacles into opportunities for growth and success.
#282
• Mentioned in 81 episodes
The Algebra of Wealth
A Simple Formula for Financial Security
Scott Galloway
In 'The Algebra of Wealth,' Scott Galloway provides a comprehensive framework for achieving financial security.
The book is divided into four main themes: Stoicism, Focus, Time, and Diversification.
Galloway advises readers to follow their talent rather than their passion, optimize big economic waves, and use stoicism to develop better financial habits.
He also emphasizes the importance of compounding interest, diversification, and tax planning.
The book is written in Galloway's characteristic straightforward style and includes practical advice on building character, relationships, and a successful career.
#73
• Mentioned in 196 episodes
Traction
Get a Grip on Your Business
Gino Wickman
In Traction, Gino Wickman provides a systematic approach to achieving business success through the Entrepreneurial Operating System (EOS).
The book focuses on six key components: Vision, People, Data, Issues, Process, and Traction.
It helps business leaders clarify their vision, align their leadership team, solve common business problems, and foster healthy communication and discipline within the organization.
The EOS system is designed to help businesses overcome frustrations such as lack of control, people issues, insufficient profit, hitting the ceiling, and feeling stuck.
The book offers practical tools, real-world examples, and actionable strategies to drive sustainable growth and improve business operations.
#239
• Mentioned in 89 episodes
The Second Mountain
The Quest for a Moral Life
David Brooks
In 'The Second Mountain', David Brooks explores the concept of two mountains in life: the first mountain, which represents individual success and ego-driven achievements, and the second mountain, which symbolizes a life of deeper meaning, commitment, and contribution to a greater good.
Brooks argues that our society's extreme individualism has torn the social fabric, and the path to repair is through making deeper commitments to a spouse and family, a vocation, a philosophy or faith, and a community.
The book is both a personal reflection on Brooks' own life journey and a broader social commentary, offering practical advice and stories of people who have lived joyous, committed lives.
#24716
• Mentioned in 2 episodes
The Heart's Invisible Furies
Jordi Cussà Balaguer
John Boyne
#60
• Mentioned in 212 episodes
The One Thing
The Surprisingly Simple Truth Behind Extraordinary Results
Jay Papasan
Gary Keller
The book discusses the benefits of prioritizing a single task and provides strategies for overcoming distractions, building productive habits, and maintaining focus.
It challenges common productivity myths such as multitasking and the idea of a balanced life, and introduces the 'Focusing Question': 'What's the ONE Thing I can do such that by doing it everything else will be easier or unnecessary?
' The authors also discuss time blocking, habit-building, and aligning short-term actions with long-term goals to achieve success in various aspects of life.
#130
• Mentioned in 135 episodes
From Strength to Strength
Finding Success, Happiness, and Deep Purpose in the Second Half of Life
Arthur C Brooks
In 'From Strength to Strength', Arthur C. Brooks addresses the inevitable decline in abilities that comes with aging and provides a practical guide on how to transform this period into an opportunity for growth.
Drawing on social science, philosophy, biography, theology, and eastern wisdom, as well as interviews with everyday men and women, Brooks advocates for refocusing on priorities such as deep wisdom, detachment from empty rewards, connection and service to others, and spiritual progress.
He argues that by adapting our expectations and focusing on these areas, we can achieve increased happiness and purpose in our later years.
#173
• Mentioned in 114 episodes
The outsider
Colin Wilson
In 'The Outsider,' Colin Wilson examines the psyche of the Outsider through the lives and works of various literary and cultural figures such as Albert Camus, Jean-Paul Sartre, Ernest Hemingway, Hermann Hesse, and Fyodor Dostoyevsky.
The book delves into the Outsider's experience of dislocation and his struggle to find meaning and purpose in a world that seems devoid of it.
Wilson argues that the Outsider is a metaphysical man who seeks a transcending meaning and purpose for human existence, often feeling isolated and disconnected from society.
The book is both a study of the Outsider's predicament and an impassioned call for a new form of existentialism that could provide a satisfying and objective religious understanding of life.
#476
• Mentioned in 56 episodes
The Happiness Hypothesis
Finding Modern Truth in Ancient Wisdom
Jonathan Haidt
In 'The Happiness Hypothesis,' Jonathan Haidt delves into the nature of happiness, fulfillment, and meaning.
He discusses the division of the self into two parts: the primitive limbic system and the rational neocortex, using the metaphor of a rider and an elephant to explain the relationship between conscious and unconscious processes.
Haidt examines 'Great Ideas' from ancient thinkers like Plato, Buddha, and Jesus, and evaluates them in light of contemporary psychological research.
He argues that happiness is influenced by both internal and external factors, including biological set points, life conditions, and voluntary activities.
The book also explores the importance of social relationships, the role of adversity in personal growth, and the concept of 'vital engagement' in work and life.
#97
• Mentioned in 159 episodes
The Brothers Karamazov
Larissa Volokhonsky
Fyodor Dostoevsky
Richard Pevear
Set in 19th-century Russia, 'The Brothers Karamazov' is a novel that delves into the lives of the Karamazov family, focusing on the three brothers—Dmitri, Ivan, and Alyosha—and their complex relationships with their father, Fyodor Pavlovich Karamazov.
The novel is a murder mystery, a courtroom drama, and an exploration of erotic rivalry, faith, doubt, and reason.
It examines the human psyche, moral dilemmas, and the search for meaning in a world fraught with suffering and uncertainty.
The story revolves around the murder of Fyodor Pavlovich and the subsequent trial of Dmitri, accused of the crime, while exploring deeper themes of Russian life, social and spiritual striving, and the clash between faith and reason.
#592
• Mentioned in 48 episodes
Build the Life You Want
The Art and Science of Getting Happier
Arthur C Brooks
Oprah Winfrey
In 'Build the Life You Want,' Arthur C. Brooks and Oprah Winfrey offer a research-based approach to improving one's life by focusing on emotional self-management.
The book emphasizes building the four pillars of happiness: family, friendship, work, and faith.
It provides practical, science-backed strategies to manage emotions, turn challenges into opportunities, and find inner peace.
The authors share their own experiences and those of others who have found joy despite hardships, highlighting the importance of enjoyment, satisfaction, and purpose in achieving a happier life.
#68
• Mentioned in 201 episodes
The Innovator's Dilemma
When New Technologies Cause Great Firms to Fail
Clayton M. Christensen
In this influential business book, Clayton Christensen shows how even the most outstanding companies can lose market leadership when they fail to adapt to disruptive innovations.
Christensen explains why companies often miss new waves of innovation and provides a set of rules for capitalizing on disruptive technologies.
The book uses examples from various industries, including the disk drive, mechanical excavator, steel, and computer industries, to illustrate trends that lead to success or failure in the face of disruptive technologies.
#686
• Mentioned in 43 episodes
Who Moved My Cheese?
Spencer Johnson
The book tells the story of four characters—two mice named Sniff and Scurry, and two 'Littlepeople' named Hem and Haw—living in a maze and searching for their favorite cheese.
When the cheese at their usual spot, Cheese Station C, disappears, the mice adapt quickly and find new cheese at Cheese Station N. However, the Littlepeople struggle with change, with Hem refusing to move and Haw eventually embracing the need to adapt.
The story serves as a cautionary tale about the dangers of complacency and the importance of embracing change to succeed in both personal and professional life.
Sean Mooney curates the 2025 reading list recommended by private equity investors, operating partners, and portfolio company CEOs featured on Karma School of Business this year. The episode spans business strategy, capital allocation, leadership, happiness, mindset, and life design—through the lens of people actively building and scaling companies. From The Outsiders to Traction to unexpected personal favorites, the list reflects what serious operators are actually reading and rereading. If you're building for the long term, this one earns a spot in your queue.
Episode Highlights- 1:12 – Casey Myers on shifting from achievement to fulfillment with From Strength to Strength
- 2:53 – Steve Hunter reframes money, time, and health through Die With Zero
- 4:04 – Jonathan Metrick on compounding time, skills, and careers via The Algebra of Wealth
- 7:35 – Ran Ding explains why great CEOs are elite capital allocators in The Outsiders
- 11:11 – Chris Scullin on dynamic competition and adaptation from The Innovator's Dilemma
- 14:01 – Micah Dawson on focus, ambition, and escaping the hedonic treadmill with The One Thing
- 18:20 – Dan Gaspar on operational discipline and change using Traction and Who Moved My Cheese?