John D. Rockefeller, American business magnate and philanthropist, shares his strategies for success in the oil industry, highlighting his conqueror mentality and ruthless tactics. He discusses the importance of competition, determination, self-belief, and taking action. The chapter also delves into the features of Founders Notes.com for successful company owners.

Explore the strategic mindset of John D. Rockefeller, compared to Napoleon, emphasizing secrecy and detailed planning. Discover his work ethic, integrity, and ownership mindset in business, drawing parallels to Jeff Bezos. Delve into Rockefeller's strategic recruitment of key figures and his ruthless efficiency in business maneuvers. Uncover the legacy of Standard Oil and Rockefeller's immense wealth amidst industry challenges.

The podcast delves into the enigmatic persona of John D. Rockefeller, showcasing his intense concentration in decision-making, cautious approach in games, and lessons from his father’s betrayal. It also explores his early traits of persistence, focus, and meticulous planning, highlighting his strategic business ventures and dominance in the oil industry through calculated moves, partnerships, and transportation mastery. Rockefeller's legacy as a business titan is depicted through his innovative industrial practices and lasting impact on America's economic landscape.

It's time. We dive into the *original* American capitalist mega winner, Standard Oil, and its legendary founder John D. Rockefeller. This company and man almost defy characterization -- Elon, Bezos, Gates, Buffett... they've got nothing on old John D. Not only was Rockefeller the wealthiest person in modern human history, his company wrote the blueprint for today's corporations and everything we now know about business and capitalism. Pull up a chair and get ready to hear how this hillbilly, nobody kid from the sticks grew up to became the richest person in the world, creating a legend along the way that would become the American Dream...Sponsors:Anrok: https://bit.ly/anrokacquiredWorkOS: https://bit.ly/workos25Statsig: https://bit.ly/acquiredstatsig24More Acquired!:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLCLinks:Episode sources:  https://docs.google.com/document/d/1X7oskTGkPX_rIKqZFlN49USR20Ii6C9p2SJCGzEXHLU/edit?usp=sharing Carve Outs:There Will Be Blood: https://www.imdb.com/title/tt0469494/Deadwood: https://www.imdb.com/title/tt0348914/SB Nation's Secret Base Atlanta Falcons series: https://youtu.be/Lx_ORMhpmoU ‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.

What I learned from Random Reminiscences of Men and Events by John D. Rockefeller. ----[0:16] These incidents which come to my mind to speak of seemed vitally important to me when they happened, and they still stand out distinctly in my memory. [2:43] That sounds funny, making friends among the eminent dead, but if you go through life making friends with the eminent dead who had the right ideas, I think it will work better in life and work better in education. — Charlie Munger [3:07] On Founders #16 I covered the biography of Rockefeller. Titan: The Life of John D. Rockefeller. [3:19] Rockefeller prioritized silence and using the element of surprise by not telling people what he was up to. [3:54] The book I read for Founders #31 Conspiracy: Peter Thiel, Hulk Hogan, Gawker, and the Anatomy of Intrigue by Ryan Holiday. [5:02] They woke up and saw for the first time that my mind had not been idle while they were talking so big and loud. [5:35] He's attempting to buy out one of his competitors and he says, “I have ways of making money that you know nothing about.” [6:00] One thing that he mentioned over and over again in this book is the importance of relationships. That relationships make life better. [7:45] Having created an empire of unfathomable complexity, he was smart enough to see that he had to submerge his identity in the organization. [13:01] We went pretty rapidly in those days. We had with us a group of courageous men who recognized the great principle that a business cannot be a great success that does not fully and efficiently accept and take advantage of its opportunities. [15:52] It was a friendship founded on business, which Mr. Flagler used to say was a good deal better than a business founded on friendship, and my experience leads me to agree with him. [18:09] Perhaps they will not be useless if even tiresome stories make young people realize how, above all other possessions, is the value of a friend in every department of life without any exception whatsoever. [20:26] I know of nothing more despicable and pathetic than a man who devotes all the waking hours of the day to making money for money’s sake. [24:35] This casual way of conducting affairs did not appeal to me. [28:07] I grew up watching Michael Jordan play. My generation saw the highlights. They saw the fancy stuff. What I saw was his footwork. I saw the spacing. I saw the timing. I saw the fundamentals of the game. [30:58] Go to sleep on a win and you wake up with a loss: As our successes began to come, I seldom put my head upon the pillow at night without speaking a few words to myself in this wise: “Now a little success, soon you will fall down, soon you will be overthrown. Because you have got a start, you think you are quite a merchant; look out, or you will lose your head — go steady.” These intimate conversations with myself had a great influence on my life. I was afraid I could not stand my prosperity and tried to teach myself not to get puffed up with any foolish notions. [34:58] If the present managers of the company were to relax efforts, allow the quality of their product to degenerate, or treat their customers badly, how long would their business last? About as long as any other neglected business. [38:04] Meet your troubles head-on: I have spoken of the necessity of being frank and honest with oneself about one’s own affairs. Many people assume that they can get away from the truth by avoiding thinking about it, but the natural law is inevitable, and the sooner it is recognized, the better. [38:49] Don’t deceive yourself by trying to take shortcuts. You have to build a strong foundation for your business and for your life. And that takes time. If you do that correctly you're going to gain a level of efficiency that the people that are looking for shortcuts, and cutting corners, are never going to enjoy. [40:48] We were gradually learning how to conduct a most difficult business. [43:08] Focus. Study how the great fortunes were made. It wasn’t a scattershot approach: We devoted ourselves exclusively to the oil business and its products. The company never went into outside ventures but kept to the enormous task of perfecting its own organization. [44:01] Two people can run the same business and have vastly different results: Amp It Up. [50:27] Don’t even think of temporary or sharp advantages. Don’t waste your effort on a thing which ends in a petty triumph unless you are satisfied with a life of petty success. [54:42] Don’t do anything someone else can do. —Edwin Land: The one thing which such a business philosopher would be most careful to avoid in his investments of time and effort or money, is the unnecessary duplication of existing industries. He would regard all money spent in increasing needless competition as wasted.  ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast