What I learned from rereading Sam Walton: Made In America by Sam Walton.----Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com----[1:56] The Everything Store: Jeff Bezos and the Age of Amazon by Brad Stone. (Founders #179)[5:45] We just got after it and stayed after it.[6:06] Foxes and Hedgehogs[6:39] Hedgehogs may not be as clever as foxes but they obsessively measure and track everything about their business, and over time, they acquire deep, relevant knowledge and expertise. Their single minded approach may appear risky at times but they are conservative by nature. Hedgehogs don’t speculate or make foolish bets. If all their eggs are in that one proverbial basket, they follow Mark Twain’s advice – and watch that basket very carefully.[7:17] The thing with Hedgehogs is that they never give up. They keep at it – and they don’t ever get bored because they just love what they do – and they have a lot of fun along the way.[7:28] Hedgehogs are the ones who build great, lasting companies. As entrepreneurs, they are the rarest of breeds – those who can start something anew, make it work, stick with it, and build something special, and ultimately, inspire others along the way, with their determination, dedication and commitment.[8:49] At first, we amazed ourselves. And before too long, we amazed everybody else too.[9:26] Think about how crazy this is. He died weeks after that writing this. His last days were spent categorizing and organizing his knowledge so future generations can benefit.[12:32] Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger(Founders #90)[12:56] "It's quite interesting to think about Walmart starting from a single store in Arkansas – against Sears, Roebuck with its name, reputation and all of its billions. How does a guy in Bentonville, Arkansas, with no money, blow right by Sears? And he does it in his own lifetime – in fact, during his own late lifetime because he was already pretty old by the time he started out with one little store. He played the chain store game harder and better than anyone else. Walton invented practically nothing. But he copied everything anybody else ever did that was smart – and he did it with more fanaticism. So he just blew right by them all. —Charlie Munger[17:11] What motivates the man is the desire to absolutely be on the top of the heap.[17:32] Practice your craft so much that you're the best in the world at it and the money will take care of itself.[18:44] We exist to provide value to our customers.[21:18] A Conversation with Paul Graham[22:32] It never occurred to me that I might lose; to me, it was almost as if I had a right to win. Thinking like that often seems to turn into sort of a self-fulfilling prophecy.[26:42] Time to Make the Donuts: The Founder of Dunkin Donuts Shares an American Journey by William Rosenberg. (Founders #231)[29:35] It didn’t take me long to start experimenting—that’s just the way I am and always have been.[30:56] Do things that other people are not doing.[33:13] The Founders: The Story of Paypal and the Entrepreneurs Who Shaped Silicon Valley by Jimmy Soni. (Founders #233)[33:41] I think my constant fiddling and meddling with the status quo may have been one of the biggest contributions to the later success of Wal Mart.[34:10] Our money was made by controlling expenses. I gotta read that again because it's so important. Our money was made by controlling expenses.[37:49] Sam Walton: The Inside Story of America's Richest Man (Founders #150)[38:37] I’ve always thought of problems as challenges, and this one wasn’t any different. I didn’t dwell on my disappointment. The challenge at hand was simple enough to figure out: I had to pick myself up and get on with it, do it all over again, only even better this time.[42:47] Four Seasons: The Story of a Business Philosophy by Isadore Sharp. (Founders #184)[45:12] The Autobiography of Andrew Carnegie by Andrew Carnegie (Founders #74)[47:08] Sol Price: Retail Revolutionary & Social Innovator by Robert E. Price. (Founders #107)[49:56] Sam had a really simple hypothesis for the first Wal Mart: We were trying to find out if customers in a town of 6,000 people would come to our kind of a barn and buy the same merchandise strictly because of price. The answer was yes.[52:19] I have always been a Maverick who enjoys shaking things up and creating a little anarchy.[54:23] In business we often find that the winning system goes almost ridiculously far in maximizing and/or minimizing one or a few variables. —Charlie Munger[55:02] He does something really smart here. And this is something I missed the first time I read the book. He finds a way to force himself to know the numbers for every single store.[56:13] Distant Force: A Memoir of the Teledyne Corporation and the Man Who Created It by Dr. George Roberts. (Founders #110)[58:11] Driven From Within by Michael Jordan and Mark Vancil. (Founders #213)  I’m not so dominant that I can’t listen to creative ideas coming from other people. Successful people listen. Those who don’t listen, don’t survive long. —Michael Jordan[58:43] We paid absolutely no attention whatsoever to the way things were supposed to be done, you know, the way the rules of retail said it had to be done.[1:03:15] Estée: A Success Story by Estée Lauder. (Founders #217)[1:04:00] One thing I never did—which I’m really proud of—was to push any of my kids too hard. I knew I was a fairly overactive fellow, and I didn’t expect them to try to be just like me.[1:06:38] I was never in anything for the short haul.[1:10:36] Michael Jordan: The Life by Roland Lazenby. (Founders #212) Like so many NBA players, Drexler was operating mostly off his great store of talent, absent any serious attention to the important details of the game. Jordan had been surprised to learn how lazy many of his Olympic teammates were about practice, how they were deceiving themselves about what the game required.[1:11:56] And you can think about Sam constantly learning from everybody else, visiting stores —that is a form of practice. Every single craft has a form of practice. It just is not as obvious as it is in sports.[1:13:26] He proceeds to extract every piece of information in your possession.[1:15:37]  He has just been a master of taking the best of everything everybody else is doing and adapting it to his own needs.[1:18:52] We were serious operators who were in it for the long haul, that we had a disciplined financial philosophy, and that we had growth on our minds.[1:19:54] Most people seem surprised to learn that I've never done much investing in anything except Walmart.[1:20:42] He's like I just figured out the Walmart's worked. And then all I did was focus on making more of them. You don't have to over-complicate it.[1:23:04] If you ask me if I'm an organized person, I would say flat out, no, not at all. Being organized would really slow me down. (Optimize for flexibility)[1:24:26] The Difference Between God and Larry Ellison: God Doesn't Think He's Larry Ellison by Mike Wilson (Founders #127): My view is different. My view is that there are only a handful of things that are really important, and you devote all your time to those and forget everything else. If you try to do all thousand things, answer all thousand phone calls, you will dilute your efforts in those areas that are really essential[1:26:15]  I think one of Sam's greatest strengths is that he is totally unpredictable. He is always his own person. He is totally independent in his thinking.[1:26:45] If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them. —Bruce Lee[1:28:40] You can’t possibly know the TAM. You are in the middle of inventing the TAM.[1:30:08] There is no speed limit by Derek Sivers[1:31:54] Built From Scratch: How A Couple of Regular Guys Grew The Home Depot from Nothing to $30 Billion (Founders #45)[1:41:35]  I like to keep everybody guessing. I don't want our competitors getting too comfortable with feeling that they can predict what we're going to do next.[1:42:25] He ties that investment int technology with the compounding savings and over the long-term, he's going to destroy his competition just off this one metric alone.[1:43:39] Big Brown: The Untold Story of UPS by Greg Niemann. (Founders #192)[1:47:56] Sam’s 10 Rules for Building A Business[1:48:04] One thing I don’t even have on my list is “work hard.” If you don’t know that already, or you’re not willing to do it, you probably won’t be going far enough to need my list anyway.[1:48:51] Commit to your business. Believe in it more than anybody else. I think I overcame every single one of my personal shortcomings by the sheer passion I brought to my work.[1:50:54] Control your expenses better than your competition. This is where you can always find the competitive advantage. For twenty-five years running—long before Wal-Mart was known as the nation’s largest retailer—we ranked number one in our industry for the lowest ratio of expenses to sales. You can make a lot of different mistakes and still recover if you run an efficient operation. Or you can be brilliant and still go out of business if you’re too inefficient.----Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com----“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

Explore the captivating origins of PayPal and its founders' defining experiences. Witness the intense challenges faced by the startup under siege. Delve into Elon Musk's risk-taking behavior and strategic investments. Learn about the pivotal role of customer service and rapid decision-making in securing business success.

Explore the life of Alexander the Great, his ambition, courage, and strategic brilliance. Learn about his supernatural self-confidence, excessive tolerance of fatigue, and relentless pursuit of glory. Discover the importance of willpower and determination in achieving greatness. Dive into historical perspectives on decision-making and knowledge sharing, contrasting opulence with skill in battle, and embracing difficulty for greatness.

Exploring the founder's journey from adversity to success, learning from early entrepreneurial ventures, the value of hard work, and striving for excellence. Uncovering lessons on sales techniques, family dynamics in business, and the downfall of Dunkin' Donuts. Embracing the wisdom of successful entrepreneurs and cultivating belief in pursuing one's passions.

What I learned from reading Love, Lucy by Lucille Ball. ----Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com----[3:19] Total Recall: My Unbelievably True Life Story by Arnold Schwarzenegger (Founders #141) [3:28] Arnold: The Education of a Bodybuilder by Arnold Schwarzenegger (Founders #193) [4:37] Lucille Ball gave me advice about Hollywood. “Just remember, when they say, ‘No,’ you hear ‘Yes,’ and act accordingly. Someone says to you, ‘We can’t do this movie,’ you hug him and say, ‘Thank you for believing in me.[6:21] I like reading about people that do things that they're not supposed to do.[9:45] Create a comprehensive family history.[14:43] People with happy childhoods never overdo; they don't strive or exert themselves. They're moderate, pleasant, well liked, and good citizens. Society needs them. But the tremendous drive and dedication necessary to succeed in any field-not only show business-often seems to be rooted in a disturbed childhood.[19:27] This is a school that teaches acting, telling what is going to wind up being one of the most successful actresses that ever lives, that she can't do it.[20:29] I soon learned that to survive you have to be very strong, very healthy, and damned resilient. Rarely does anyone give you an encouraging word.[20:52] I'd show up early for rehearsals and stay until they had to sweep me off the stage. . .I didn't give up. I wore out my soles trudging to casting offices.[21:08] I can't say that I was discouraged. For some incomprehensible reason, knew that someday I'd make it.[21:15] Remember that there are practically no “overnight" successes. Before that brilliant hit performance came ten, fifteen, sometimes twenty years in the salt mines, sweating it out.[25:08] I was determined to stay in Hollywood. I would do what I could to make sure I'd survive the long haul.[27:34] What would you give to be a star in two years?’’ Lela asked me when I first was getting to know her.“What d’ya mean?’’"Would you give me every breath you draw for two years? Will you work seven days a week? Will you sacrifice all your social life?"“I certainly will," I promised."Okay," she said, "let's start.Lela was the first person to see me as a clown with glamour.[28:43] Lela taught us never to see anyone as bigger or more important than ourselves.[30:07] Buster Keaton used to tell me about dozens of Hollywood people who ran into trouble. This was comforting, like reading an autobiography and thinking, “Well, that happened to them, too. I'm not the only one.”[35:51] He soon learned that in striking out on your own, you have to throw out your chest and sell yourself.[42:03] I learned the bitter lesson that directors and producers can make or break an actress.I was a star, but I felt that I couldn't afford to turn down parts for fear of infuriating these bigwigsIf I did turn down a script I would be put on suspension, without salary.I couldn't accept an offer from any other studio, no matter how good, yet I could be fired at any time without the bosses showing cause.All the glittering “stars" were at the mercy of the whims of the top people.[45:12] I had a driving, consuming ambition to succeed in show business.[47:23] Founder mentality. Desi and I decided that since nobody else seemed to have faith in us as a team, we’d form our own corporation to promote ourselves. Desilu Productions, Inc., was launched.[48:54] At that time, television was regarded as the enemy by Hollywood. So terrified was Hollywood of this medium, movie people were afraid to make even guest appearances. (As bill gates and Walt Disney learned — go with the phenomenon— not against it)[50:50] Hard Drive: Bill Gates and the Making of the Microsoft Empire by James Wallace and Jim Erickson (Founders #140) Overdrive: Bill Gates and the Race to Control Cyberspace by James Wallace (Founders #178) [52:57] To my delight, I discovered that the I Love Lucy show drew from everything I'd learned in the movies, radio, the theater, and vaudeville.----Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com----“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

What I learned from reading Mind Your Own Business: A Maverick's Guide to Business, Leadership and Life by Sidney Harman----Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com----[3:46] Foxes and Hedgehogs[7:17] The thing with Hedgehogs is that they never give up. They keep at it – and they don’t ever get bored because they just love what they do – and they have a lot of fun along the way.[8:27] In the Company of Giants: Candid Conversations With the Visionaries of the Digital World[9:38] “The essence of commitment is making a decision. The Latin root for decision is to ‘cut away from,’ as in an incision. When you commit to something, you are cutting away all your other possibilities, all your other options”  From the book The Lombardi Rules: 26 Lessons from Vince Lombardi—The World's Greatest Coach[11:16] The New New Thing: A Silicon Valley Story by Michael Lewis[13:12] I regard myself as guardian of the company’s soul.[15:05] Steve Jobs liked to say the Beatles were his management model—four guys who kept each other in check and produced something great.[15:50] Avoid recklessness, encourage daring.[18:08] His main point here is the fact that he started the company in defiance of conventional wisdom[24:08] Bloomberg by Bloomberg[26:16] I believe that refusing to accept business orthodoxy uncritically can open your eyes to opportunity.[34:56] We were free to follow our best instincts. We were free to bring totally new thinking to what we were doing.[38:44] Treat hard work and your smarts respectfully, but recognize that they are neither decisive nor do they guarantee anything. Most of all, I told myself, don’t underestimate determination and persistence, and never quit.[40:25] Becoming Trader Joe: How I Did Business My Way and Still Beat the Big Guys[41:51] I loved building a business. What could be better? The products were wonderful. They employed technology wisely. They made beautiful music. My instinct for marketing—for selling, for emotive advertising—was not only indulged, but rewarded.[43:00] Mavericks do not play well with others.[55:12] It did not require a genius to recognize that I was looking at the future.[58:34] Reducing business matters to their essence, whittling away that which obscures or is unnecessary, has served me well. I admire greatly those who practice the art.[59:48] A company requires an articulated mission, a philosophical base, a moral compass, critical judgment, and the realization that it is a dynamic, living instrument populated by complex human beings.[1:05:05] The best leaders are catalysts who prompt others to reach beyond their most natural abilities to find something they had previously thought beyond their reach.[1:18:03] I have found that by insisting on simple explanations, the mystery disappears and with it most of the nonsense.[1:23:12] It is vital that everyone know what business he is in.[1:28:23] Opportunity can be attacked with enthusiasm.[1:30:01] The person who invests in writing, who exercises the discipline to do it well, and who uses it frequently, will possess a matchless instrument for discovery, clarity, and persuasion.----Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com----“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

Exploring Michael Bloomberg's journey from finance to innovation, highlighting the core product of data and analytics. Emphasizing the importance of street smarts in predicting career achievements and the value of ambition in achieving success. Reflecting on leadership styles and the humble beginnings of entrepreneurial endeavors. Touching on the strategic mindset of Bloomberg and the influence of family on his path to success.

Explore the fascinating biographies of Larry Miller, Chuck Feeney, Anthony Bourdain, Siggi Wilzig, and more. Dive into the lessons learned from successful figures like Michael Jordan and insights from Stephen King and Arnold Schwarzenegger. Discover the impactful partnerships in history and the wisdom of copywriting from Claude Hopkins.

Delve into the wisdom of Warren Buffett's essays on strategic investing and building a successful enterprise. Learn the value of assembling exceptional teams, direct CEO communication with shareholders, and prioritizing resource management for long-term success. Dive into lessons on business philosophy, high-quality decision-making, and sustainable wealth building. Explore the American Miracle and Berkshire's conglomerate advantage for strategic insights and longevity in business.

Exploring the lives of historical heroes like Alexander the Great, Julius Caesar, Churchill, and de Gaulle. Discussing traits of heroes: independence, resolute actions, media ignorance, and personal courage. Reflecting on their bravery, intelligence, and self-assurance. Drawing parallels between historical figures and modern entrepreneurial strategies. Emphasizing the importance of learning from both positive and negative aspects of these leaders.