Founders cover image

Founders

Latest episodes

undefined
Mar 21, 2020 • 1h 7min

#116 Sam Bronfman (Seagram's and the Bronfman family dynasty)

What I learned from reading Samuel Bronfman: The Life and Times of Seagram’s Mr. Sam by Michael R. Marrus.----Come see a live show with me and Patrick O'Shaughnessy from Invest Like The Best on October 19th in New York City. Get your tickets here! ----Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. ---The story of Sam’s rise to fame and fortune from a hard life on the Canadian frontier is inherently dramatic and yet touches a familiar nerve in a broad spectrum of the population. There is something in Sam’s response to his disappointments that most people recognize in their themselves. [0:01] I found out about the Bronfman family on Founders #53 Mike Ovitz when Mike Ovitz brokered a deal that led to Seagram buying MCA Universal for $5.7 billion. [2:58]Generational Inflection Point: A single individual that changes the trajectory of his entire family for generations to come [3:35] Why did his family have to flee Russia? [6:42]Sam was ashamed of the poverty is family endured and NEVER forgot it [10:45] Sam starts running his own hotel at 23 [14:35] Sam figures out a new plan to overcome the powerful temperance movement / The good ones know more. — David Ogilvy [18:00] The advantages of Sam’s mail order strategy + Copying and improving on his competitors [20:12]Some people just want it more [22:23]Sam would tell you to focus on the long term [24:26]Sam would tell you don’t waste any opportunity and be a learning machine [31:50]Sam would tell you to learn from the best [35:44]Sam would tell you to think big and appeal to interest [37:20]Sam’s view on money / Go First Class [42:04]After prohibition is lifted Sam goes on a buying spree / Default aggressive [48:53]Sam does something brilliant: He repositions whiskey as a luxury product [53:02]Sam’s personal curriculum [57:30]How Sam’s business survived WWII [59:00]The company proved to be one of Sam’s shrewdest moves; bought with only $50 million in borrowed cash it was sold [by his heirs] in 1980 for $2.3 billion [1:03:35]—“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
undefined
Mar 16, 2020 • 46min

#115 Ben Franklin: An American Life

What I learned from reading Benjamin Franklin: An American Life by Walter Isaacson.----Come see a live show with me and Patrick O'Shaughnessy from Invest Like The Best on October 19th in New York City. Get your tickets here! ----Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. ---He was, during his 84 year long life, America’s best scientist, inventor, diplomat, writer, and business strategist. [0:01]On Founders #62 I covered Ben Franklin’s autobiography [4:10]The family produced dissenters and nonconformists who were willing to defy authority, although not to the point of becoming zealots. They were clever craftsman and inventive blacksmiths with a love of learning. Avid readers and writers, they had deep convictions, but knew how to wear them lightly. [5:00]The industrialist Thomas Mellon, who erected a statue of Franklin in his banks headquarters, declared that Franklin had inspired him to leave his family's farm and go into business. "I regard the reading of Franklin's Autobiography as the turning point of my life. Here was Franklin, poorer than myself, who by industry, thrift, and frugality, had become learned and wise, and elevated to wealth and fame. The maxims of poor Richard exactly suited my sentiments. I read the book again and again, and wondered if I might not do something in the same line by similar means." [13:10]Franklin is learning how to deal with people and to change his behavior to get the outcome he desires: Being argumentative, he concluded, was a very bad habit because contradicting people produced disgusts and perhaps enemies. Later in his life he would wryly say of disputing: "Persons of good sense, I have since observed, seldom fall into it.”[17:50]Ben Franklin understood marketing [22:10]Ben Franklin would tell you to keep reading and learning so you are more interesting to talk to. This produces positive externalities. [23:50]Franklin’s plan for his business and how to overcome an entrenched competitor [30:00]Franklin would tell you it is foolish to avoid all criticism [33:28]The Ben Franklin method for making difficult decisions [34:15]As Franklin is building his business he is focused on self improvement: A list of 12 virtues he thought desirable [35:56]Most of Poor Richard's saying were not totally original as Franklin freely admitted. "They contained the wisdom of many ages and nations. Not a tenth part of the wisdom was my own." / Picasso had a saying good artists copy; great artists steal. we have always been shameless about stealing great ideas --Steve Jobs [38:25]Franklin telling you how to turn adversaries into allies. [41:38]Halfway through his life, Franklin realizes he has enough: "Lost time is never found again." [43:25]—“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
undefined
Mar 9, 2020 • 1h 20min

#114 The Professor, the Banker, and the Suicide King: Inside the Richest Poker Game of All Time

What I learned from reading The Professor, the Banker, and the Suicide King: Inside the Richest Poker Game of All Timeby Michael Craig.---Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. ---Some Texas banker was playing poker with over $15 million on the table. 15 million on the table? This much cash would weigh over 250 pounds. [0:01]Founders #38 Jeff Bezos and Elon Musk The Space Barons: Elon Musk, Jeff Bezos, and the Quest to Colonize the Cosmos [4:12]Poker players are misfits / Poker as a capital intensive business / How to avoid going over the edge [6:51]The early life and personality traits of Andy Beal [12:20]Other founders mentioned in this episode: #59 Howard Hughes: Hughes: The Private Diaries, Memos and Letters; The Definitive Biography of the First American Billionaire.#65 Kirk Kerkorian: The Gambler: How Penniless Dropout Kirk Kerkorian Became The Greatest Deal Maker In Capitalist History.#67 Conrad Hilton: The Hiltons: The True Story of an American Dynasty[19:24]Professional poker players were the ultimate independent businessmen. They had no bosses, no employees, and no set hours. [20:36]He came. He saw. He was conquered. [26:01]The entrepreneurial emotional roller coaster + Bet on yourself [28:20]A young Andy Beal’s adventures in entrepreneurship [36:30]Beal Aerospace [49:45]How Andy Beal finds an edge in poker [55:04]The difference between knowing and doing [1:07:49]The benefits of facing tough competition: Andy had played abasing the best poker players in the world for nearly 300 hours. It was impossible to stick around against this level of competition and not improve. How can we simulate an environment like this for ourselves?   [1:09:45]What a bizarre, nonchalant way to start an important day [1:14:20]—“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
undefined
Mar 5, 2020 • 1h 8min

#113 A.G. Gaston (Black Titan and the Making of a Black American Millionaire)

Follow the journey of A.G. Gaston, a former slave's grandson turned millionaire, who found success through relentless determination and finding inspiration in others. From early entrepreneurial ventures to transformative experiences in France, Gaston's resilience in the face of adversity leads to building wealth and a shift towards community-focused business ventures. Learn how this black entrepreneur's inspiring legacy continues to empower others to overcome challenges and strive for equality.
undefined
Feb 24, 2020 • 1h 21min

#112 Frank Lloyd Wright

What I learned from reading Plagued by Fire: The Dreams and Furies of Frank Lloyd Wright by Paul Hendrickson. ----Come see a live show with me and Patrick O'Shaughnessy from Invest Like The Best on October 19th in New York City. Get your tickets here! ----Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. ---[0:01] Frank Lloyd Wright suffered a personal catastrophe that would have destroyed a man of lesser will and lesser ego. [7:20] Ben Franklin writing about vanity 250 years ago: Most people dislike vanity in others, whatever share they have of it themselves; but I give it fair quarter wherever I meet with it, being persuaded that it is often productive of good to the possessor. [12:38] He held a press conference on Christmas Day to explain his actions. He said ordinary people can not live without rules to guide his conduct. He - Frank Lloyd Wright - is not ordinary. [13:44] Frank Lloyd Wright had a single minded pursuit of his own potential. [18:50] Nothing is at last sacred but the integrity of your own mind. [19:30] Find something you love to do and don’t stop until you die. [23:00] Everything is malleable. Including the truth. [25:25] All Frank Lloyd Wright had was a complete faith in himself. [31:57] Frank Lloyd Wright had a point of view—a conviction— and he tied his point of view to larger ideas. [35:29] Frank Lloyd Wright was terrible with money: So long as we had the luxuries, the necessities could pretty well take care of themselves.  [36:20] The early career of Frank Lloyd Wright / his mentor was one of the greatest architects ever [39:30] You are going to go far. You’ll have a kind of success; I believe the kind you want. Not everybody would pay the price in concentrated hard work and human sacrifice you’ll make for it. [50:05] Wright turned down a fantastic opportunity. He preferred to bet on himself. [53:28] Wright’s mid life crisis and the abandonment of his family. [56:00] We’d like to be painters, we’d like to be poets. We’d like to be writers, but as everybody knows—we can’t earn any money that way. What do you want to do? When we finally got down to something which the individual says he really wants to do, I will say to him you do that—and uh—forget the money. If you say that getting the money is the most important thing, you will spend your life completely wasting your time...You’ll be doing things you don’t like doing in order to go on living, that is to go on doing things you don’t like doing, which is stupid! It is absolutely stupid! Better to have a short life that is full of what you like doing than a long life spent in a miserable way. And after all, if you do really like what you’re doing, it doesn’t matter what it is—somebody is interested in everything—anything you can be interested in, you will find others who are...But, it’s absolutely stupid to spend your time doing things you don’t like and to teach our children to follow in the same track. See, what we are doing is, is we’re bringing up children and educating them to live the same sort of lives we are living—in order that they may justify themselves and find satisfaction in life, by bringing up their children, to bring up "their" children, to do the same thing. So, it’s all retch and no vomit—it never gets there. Therefore, it’s so important to consider this question..."What do I desire?" —Alan Watts [1:01:50] The volume of work Wright completed after the age of 60 was astonishing. A third of his total output came after the age of 80! [1:17:30] What the tumultuous relationship of his parents gave Frank Lloyd Wright: “A will and inner strength that seems unquantifiable.” ----“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. It's good for you. It's good for Founders.A list of all the books featured on Founders Podcast
undefined
Feb 16, 2020 • 1h 23min

#111 David Geffen

What I learned from reading The Operator: David Geffen Builds, Buys, and Sells the New Hollywood by Tom King. ----Come see a live show with me and Patrick O'Shaughnessy from Invest Like The Best on October 19th in New York City. Get your tickets here! ----Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. ---He told me he had recently read Buffett: The Making of an American Capitalist, Buffett was Geffen's hero.Geffen—with searing focus, unyielding drive, and outlandish nerve—had devised and implemented strategies to propel himself to the top of the heap of Hollywood powerbrokers.I used to have phone conversations with David that would leave me sweaty.David might not have realized it, but he was being educated by a master entrepreneur. Batya succeeded in teaching him the value of hard work and the possibilities of life under even the most difficult circumstances. She was a brilliant businesswoman who could account for every penny that went into and out of the enterprise. She kept her overhead low by driving hard bargains with her suppliers and by closely monitoring her expenses.His mother determinedly drilled into him the same advice she often repeated to herself. "You may not be very tall, but you will stand head and shoulders above everyone," she declared. "You think of yourself as head and shoulders above everyone else, and you will be."Arriving in Hollywood for the first time, David thought he had found paradise. It was even more intoxicating than he had imagined. His life's ambition was soon established after he read a new biography of MGM studio boss Louis B. Mayer called Hollywood Rajah. "I want this job," he thought to himself.He simply did not have the attention span that college required. He was eager to get into the real world.She told Geffen that some of the brightest lights in the entertainment business had gotten their start in the mailrooms of the major talent agencies. Although it was not a glamorous job, it was a way to get a foot in the door. Having tossed aside all notions of right and wrong, David Geffen simply lived by different rules than did the rest of society around him. Unconstrained by traditional ideas of acceptable social behavior, he was free to use all of the resources at his fingertips to achieve his lofty goals.Geffen simply worked harder than anyone else.The music department, he said, was the place where a young agent could make a name for himself. Brandt's advice had a profound impact on Geffen. He at once rejiggered his career plans.It was not an undying passion for music that made him decide to try to make his fortune in the business; he did it because he might get rich quickly.Geffen recognized that publishing was one of the areas in the music business where the real money was being made. Long after an artist's star has faded, publishers benefit financially for years to come, pocketing royalties whenever a group records a song or sheet music is sold.Having studied Clive Davis, he decided that he, too, had the savvy to make it in the record industry. It was not much of a stretch for him to envision David Geffen, the music mogul.He remained unsettled and plagued by feelings of insecurity and dissatisfaction. He was driven by a devil that constantly told him he needed to be bigger, more, and something else. He simply was not the kind of man who was going to stand in one place for very long.While he saw himself most of the time as the smart, fast-rising star he had become, there seemed to be fleeting, dreadful moments when his confidence shattered and he was gripped with fear.The way Geffen saw it, there was a natural synergy in owning both a record company and a management company. They could use the management company to book and promote the acts it was recording on the label and vice versa. Controlling both sides of the business. But the real advantage, Geffen explained, was that they could use the record deal, which came complete with Atlantic financing, to cover the overhead at the management company.From the day he opened his new business, Geffen had his eye fixed on the bottom line. He had the foresight to avoid the pitfalls that had proved fatal to so many others who had launched record labels before him. He was overhead averse and did not feel the urge to redecorate or to hire a large staff.For all his money, David Geffen was turning out to be rather frugal. He well understood that the delicate balance between profit and loss can be upset if expenses are high.Playing fair, Geffen had learned, was difficult and time-consuming; lying, on the other hand, was easy and effective.Just thirty, he claimed that his net worth was about twelve million dollars.  But he was surprised to realize that the millions of dollars he had just banked and the trappings he had been able to acquire with it did not make him happy. It hit him when he was in London on a business trip, lying on a bed in a posh hotel, smoking a joint, and staring at the ceiling. All his life he had dreamed of being a multimillionaire, thinking that money would solve his problems. It had not, and he fell into a deep depression.Geffen saw immediately that Katzenberg had the hustler-like qualities that he himself had displayed at that age.Used to the relatively quick turnaround of record production, the slow-moving nature of the movie business made him agitated, nervous, and bored. Key to his recipe of success had been his ability to move quickly; but in the movie business, that same pacing proved to be a detriment, and it began to drive him crazy.It was to be the most important negotiation of Geffen's life, and he successfully extracted an extraordinary deal that within a few years helped make him one of the wealthiest men in the country. In pulling off the deal, he showed himself to be a shrewd, remarkably focused strategist. He had an uncanny ability to understand people, recognize their weaknesses, and capitalize on them. The negotiation also showed once again that Geffen had that rare ability to envision success: He clearly understood his power and knew how to get what he wanted.--There was one thing Calvin Klein did not tell Geffen: His privately held fashion empire was on the brink of bankruptcy.  Geffen surmised that the company should be transformed from a manufacturing firm to a design, marketing, and licensing company."You guys stink at manufacturing," he said. "You need to get out of that business."Instead, Geffen continued, the company needed to focus on what it really knew: how to design and market the Calvin Klein brand name."Calvin, you should only be focusing on the aesthetics," Geffen said. "You should just be designing the clothes and overseeing the marketing and advertising."Geffen reprimanded Klein and Schwartz for excesses they could not afford. Among other things, he told them to sell their company jet which cost them $2.5 million a year to maintain. He also told Klein to fire his chief financial officer and helped him hire Richard Martin, a top executive at Price Waterhouse, the accounting firm he himself used.Here was the "fixer" in action: David Geffen was now involved in the kind of problem solving that energized him more than anything else.--The idea of Geffen joining Katzenberg and Spielberg seemed a bit odd. For one thing, Geffen was Hollywood's greatest entrepreneur and nearly all of his successes were ones in which he alone had made the decisions."If I have to sit and convince somebody why I'm enthusiastic about something, I'm already depressed." The idea of himself as a partner was a strange one for David Geffen.I've been working on myself, and my demons and my nonsense and my fucked-up-ness for a long, long time. Which is not to say that I'm still not a little fucked up. I think you get better and better in tiny increments, and you die unhealed.----“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
undefined
Feb 10, 2020 • 1h 26min

#110 Henry Singleton (Teledyne)

What I learned from reading Distant Force: A Memoir of the Teledyne Corporation and the Man Who Created It by Dr. George Roberts. ----Come see a live show with me and Patrick O'Shaughnessy from Invest Like The Best on October 19th in New York City. Get your tickets here! ----Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. ---Henry was much more than a salesman, mathematician, engineer, inventor, and chess champion. He was a student. An observer of the history of manufacturing, of the progress and growth of corporations from the days of Henry Ford, the growth of General Motors, the manner of successful corporations in growing by acquisition. [0:01]Henry reminds me of de Gaulle. He has a singleness of purpose, a tenacity that is just overpowering. He gives you absolute confidence in his ability to accomplish whatever he says he is going to do. [2:00]Henry spent time doing exactly what we are doing — learned from entrepreneurs and great people of the past. [3:45]According to Buffett, if one took the top 100 business school graduates and made a composite of their triumphs, their record would not be as good as that of Singleton, who incidentally was trained as a scientist, not an MBA. / Here is a direct quote from Buffett: The failure of business schools to study men like Singleton is a crime. / "Henry Singleton of Teledyne has the best operating and capital deployment record in American business.” —Warren Buffett [8:30]Genius is an oft-misused word, but it cannot be denied that Henry Singleton brought exceptional brilliance to the creation and development of the enterprise he undertook. . .Many of these strategies, new at the time, have now become commonplace in the business world. [12:57]My only plan is to keep coming to work each day. I like to steer the boat each day rather than plan ahead way into the future. —Henry Singleton [14:36]Within eight years of founding Teledyne had bootstrapped their startup investment of $450,000 into a company with annual sales of over $450 million. [17:24]Henry’s early faith that semiconductors would become the dominant factor in future electronics, even while this was still being debated by others in the industry. [31:15]Henry’s three great ideasRecognizing the future importance of digital semiconductors when this technology was in its infancy.Acquiring and organizing a selection of financial companies to provide a strong financial base [The idea Henry learned by reading Alfred Sloan’s of GM’s book]His innovative strategy for stock buybacks [40:30]Henry knew where he could create the most value and focused on that. Are you doing the same? [50:16]There is no speed limit: In the company’s first six years net income rose from $58,000 to $12,035,000 [52:20]There are ideas worth billions in a $30 history book. [56:10]Henry Singleton the teacher / Claude Shannon on being smart and quiet [1:06:45]By 1977 Teledyne was the largest shareholder in nine Fortune 500 companies. But Henry didn’t want control. He didn’t even want a board seat. [1:13:40]There are companies that will sell one division and buy another because today this divisions generally sports a low multiple and the one they’re buying has a high multiple. That absolutely turns me off. The whole concept is repulsive. We don’t do things like that. We look at the economic long term possibilities. —Henry Singleton [1:17:05]----“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
undefined
Feb 3, 2020 • 1h 13min

#109 Adi Dassler (Adidas)

What I learned from reading Sneaker Wars: The Enemy Brothers Who Founded Adidas and Puma and The Family Feud That Forever Changed The Business of Sports by Barbara Smit.---Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. ---This story begins at a time in history when money and sports were still two separate worlds [0:01]A family business struggling to survive / drafted into WWI / Adi Dassler’s EXTREME resourcefulness and personality / [3:15]Early distribution and marketing of sports shoes [10:06]The Dassler Brothers were opposites: Adi was the quiet craftsman with soul in the game. Rudolf was ostentatious and loud. [12:46]The chronicle and biography of Adi Dassler: A story about someone obsessed with making high quality products [14:00]Was Adi Dassler a Nazi? / My experience with the totalitarianism of the Castro regime / tearing up thinking of having to risk the lives of your children [24:30]Adi Dassler reminds me of Henry Royce [29:30]The difficulties of building a business during World War II [32:15]Adi starting over at the age of 46 / How the Adidas stripes came about [38:15]Athletes start requesting bribes to wear Adidas / How the payoffs happened [46:00]Breaking into a new market was a slow, labor intensive process [50:45]While Adidas and Puma are distracted fighting each other, opportunity opens up for Phil Knight and Nike / pursue your crazy idea / famous last words: “it’s just a toy”, “jogging isn’t a real sport”, “Nike is not a threat because we have more demand than we could service” [55:05]If you have a business that makes you miserable, somewhere along the line you lost the plot. [1:06:45]—“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
undefined
Jan 26, 2020 • 1h 7min

#108 Jim Simons (Money Printer)

What I learned from reading The Man Who Solved The Market: How Jim Simons Launched The Quant Revolution by Gregory Zuckerman ----Come see a live show with me and Patrick O'Shaughnessy from Invest Like The Best on October 19th in New York City. Get your tickets here! ----Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. ---The story of the greatest moneymaker of all time [0:01]Simons prefers to move in silence [1:40]Unknown Unknowns > Known Knowns / Wise people always know exactly why something won’t work. That is why I never employ an expert in full bloom. —Henry Ford [2:42]A one word summary of the book: PERSISTENCE [4:15]Simons’ early life / Only the arrogant are self-confident enough to push their creative ideas on others. —Nolan Bushnell [4:44]Advice from his father: Do what you like in life, not what you feel you should do. [6:16]Personality: Jim had a persistent and burning desire to be wealthy [7:20]A seed has been planted + Jim’s existential crisis [9:55]Lessons from codebreaking that Jim applies to his business later [14:08]Jim Simons at 29 years of age: Fired, father of 3 young children, no idea what his future holds [20:00]Jim Simons at 33 years of age: Genius and madness are next-door neighbors [21:44]Jim Simons at 40 years of age: Jim finally makes the jump. Only misfits understand misfits [22:55]Jim’s first trading style [28:00]We all go through times like this: DON’T QUIT! [29:15]Jim Simons at 44 years of age / Jim’s partner doesn’t see the point in developing automated trading system / Giant success followed by giants failures [34:30]Back to being filled with self-doubt [37:15]Our mind loves playing tricks on us [38:00]Jim Simons studied the past to gain an information advantage [41:00]Finally, the new strategy starts working! / Even with wild success people will tell you that you are wrong [46:55]Business is like nature, it doesn’t care if you arrive at the right answer from the wrong reasoning. [52:50]Emperors want empires [57:02]Life advice from an 82 year old Jim Simons [1:02:40]—“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
undefined
Jan 20, 2020 • 1h 9min

#107 Sol Price (Costco)

What I learned from reading Sol Price: Retail Revolutionary & Social Innovator by Robert E. Price.----Come see a live show with me and Patrick O'Shaughnessy from Invest Like The Best on October 19th in New York City. Get your tickets here! ----Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. ---What was it about this man that engendered so much admiration and respect? [0:01]Sol Price’s early life  [4:39]Sol Price was a misfit / “If you want to understand the entrepreneur, study the juvenile delinquent. The delinquent is saying with his actions, "This sucks. I'm going to do my own thing.”  [5:40] Learning to love being productive / Sol Price on the importance of time / DO IT NOW! [12:20]The beginning of FedMart [16:00] Sol Price learned from other founders [21:25] Sol Price’s business philosophy [28:50]What happened when Sol opens a pharmacy in FedMart / A creative solution to being cut off by gasoline suppliers [36:25] Sol Price’s idea on teaching and “alter egos” / “You train an animal. You teach a person.” —Sol Price [39:13] The intelligent loss of sales [42:00] The idea for Price Club [52:37] What Sol Price meant to his son [1:05:28]—“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

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode