Founders

What I learned from reading Built From Scratch: How A Couple of Regular Guys Grew The Home Depot from Nothing to $30 Billion by Bernie Marcus and Arthur Blank. ---The creation of The Home Depot began with two words: "You're fired!" [0:01]Blinders on focus on the customer [5:45]Learning how not to manage people from Ming the Merciless [8:37]Meeting Ken Langone / the prehistory of Home Depot [11:00]81% private / 19% public partnerships [18:40]Ken sells to Ming. Predicts Ming will fire Bernie [28:30]Getting fired was the best thing that ever happened [35:00]Bernie Marcus at 49 years old: little cash and a ruined reputation [38:15]How Bernie Marcus walks away from Ross Perot [38:50]The importance of equity [49:19]Do not work with people who don't know how to care about other people [51:00]How they got the money to open The Home Depot [55:30]The critical importance of selling at the right price [58:32]Knowing the right way to do something by seeing it done the wrong way [1:08:54]Mistakes can teach us we're never as smart as we think we are [1:11:25]  ----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

What I learned from reading Idea Man: A Memoir by the Cofounder of Microsoft by Paul Allen ---I was 21 years old and at loose ends (0:01)how Paul Allen works (4:09)coming up with the idea for Microsoft (4:48)admiring Bill Gates' bravado (7:56)advice from his father: do something you love (12:30)"Paul is an 'enthusiast' and when in the grip of an enthusiasm is almost totally irresponsible in other areas. How can one help such a student to see the error of his ways ? I don't know. He could even be more right than we, who knows ?" (18:30)Going deep on subjects that interested him (20:56)Paul's first jobs (24:14)Paul Allen and Bill Gates first business (26:44)New Mexico and the start of Microsoft (31:37)We were certain that the tech establishment was wrong and we were right (34:40)Unequal cofounders (37:29)Starting to grow Microsoft (39:00)Unequal cofounders part two (41:00)Early Microsoft culture: When I talk about the early days at Microsoft, it's hard to explain to people how much fun it was.( 46:43)Turning down a millions of dollars from Ross Perot (53:37)Unequal cofounders part 3 (56:54)The deal that led to Microsoft becoming the largest tech company of its day (58:00)Health crisis and Paul Allen leaves Microsoft (1:05:30)His most important realization (1:09:27)How Paul makes $75 million from AOL (1:13:00)I start from a different place , from the love of ideas and the urge to put them into motion and see where they might lead (1:18:10) ----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

Discover the transformative power of principles in decision-making from Ray Dalio. He emphasizes the importance of questioning certainties, shifting mindsets, and systematizing choices. His journey highlights the value of independent thinking and learning from failures. Delve into the intersection of technology and investing, where systematic approaches outshine traditional methods. Explore the balance between public success and personal fulfillment, revealing how authenticity trumps fame in the quest for true happiness.

What I learned from reading One From Many: VISA and the Rise of Chaordic Organization by Dee Hock ---Walking away at the pinnacle of success was the hardest thing I have ever done (0:01)Through the years, I have greatly feared and sought to keep at bay the four beasts that inevitably devour their keeper – Ego, Envy, Avarice, and Ambition. In 1984, I severed all connections with business for a life of isolation and anonymity, convinced I was making a great bargain by trading money for time, position for liberty, and ego for contentment – that the beasts were securely caged. –Dee Hock (4:14)Visa was little more than a set of unorthodox convictions about organization slowly growing in the mind of a young corporate rebel (9:03)Dee's first jobs (21:44)Learning how mechanistic, Industrial Age organizations really function (28:17)Useful questions to ask in your organization (34:30)A failure at 36 years old (38:33)The environment from which Visa emerged (46:41)Healthy vs Unhealthy Organizations (55:19)Focus on how your product or company "ought to be" and nothing else. (57:30)I had held fast to the notion that until someone has repeatedly said "no!" and adamantly refuses another word on the subject, they are in the process of saying "yes" and don't know it yet. –Dee Hock (1:03:55)His biggest regret: The fight against duality (monopoly) (1:04:35)How Dee Hock dealt with stress (1:07:00)His biggest regret: The fight against duality (monopoly) continued (1:09:52)Dee's surprising conclusion about his work (1:16:50) ----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

Explore the unpredictable world of entrepreneurship, where there's no one-size-fits-all solution. Discover the journey of two resilient co-founders navigating challenges that led to the creation of LoudCloud. Learn how perseverance often trumps intelligence and why training and a unique company culture matter. Dive into the emotional rollercoaster of handling negative feedback and the vital role of community in innovation. This insightful conversation reveals that sometimes, asking tough questions can lead to unexpected solutions.

Discover the riveting journey of Edwin Land, the visionary behind instant photography and Polaroid. The discussion dives into how his stubbornness and unique approach to innovation challenged traditional consumer demands. Explore the balance of perseverance and the necessity for disruptive creativity in technology. Hear how Land's principles resonated with Steve Jobs, shaping a new era of product development. Uncover the philosophy of making the impossible possible and the relentless pursuit of design excellence.

What I learned from reading Walt Disney: An American Original by Bob Thomas---He seemed eager to sum up the lessons he had learned and tell people how he applied them in his life. [0:01]He worked long hours over drawings in his room. Never revealing a project until he completed it. [5:32]Walt Disney's first business: Iwerks-Disney Commercial Artists [9:34]Walt Disney's second business: Laugh-O-Gram Films [13:30]Walt Disney's third business: The Walt Disney Company [17:03]"Should the idea or name be exploited in any other way, such as toys or merchandise we shall share equally." / Jeff Bezos on the importance of sleep [21:08]Committees throttle creativity [25:31]It is normal to doubt yourself when you are creating something. Walt Disney doubted the quality of Steamboat Willie. What would go on to be one of the most famous cartoons ever created. [33:28]People don't know what is good until the public tells them/Or how to get film distributors to come to you [37:10]The power of licensing Disney characters [42:06]Advice from Charlie Chaplin [47:17]You can't top pigs with pigs [52:29]A most unusual response to financial calamity [57:42]The Army takes over Disney's studio [1:00:53]An amazing meeting with the founder of Bank of America [1:04:00]Coming up with the idea for Disneyland [1:09:30]Maniacal focus on the customer [1:18:00]Disneyland prints money [1:22:30] ----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

Dive into the competitive cosmos where Elon Musk and Jeff Bezos lead the charge for space exploration. Contrast Musk's bold innovations with Bezos's stealthy strategies in their quest to colonize the stars. Learn how history—from Sputnik to today—shaped their journeys and the tech revolution. Explore the resilience required to overcome criticism and the importance of resourcefulness in entrepreneurship. With tales of ambition and frugality, this narrative illuminates the pioneers transforming the future of space travel.

What I learned from reading The Fish That Ate the Whale: The Life and Times of America's Banana King by Rich Cohen.---When he arrived in America in 1891 at age fourteen, Zemurray was tall, gangly, and penniless. When he died in the grandest house in New Orleans sixty-nine years later, he was among the richest, most powerful men in the world. In between he worked as a fruit peddler, a banana hauler, a dockside hustler, and the owner of plantations on the Central American isthmus. He batted and conquered United Fruit, which was one of the first truly global corporations. [0:01]Zemurray’s life is a parable of the American dream. It told me that the life of the nation was not written only by speech-making grandees in funny hats but also by street-corner boys, immigrant strivers, crazed and driven, some with one good idea, some with thousands, willing to go to the ends of the earth to make their vision real. [0:31]How Sam Zemurray started: He’d arrived on the docks at the start of the last century with nothing. In the early years, he’d had to make his way in the lowest precincts of the fruit business, peddling ripes, bananas other traders dumped into the sea. He worked like a dog and defied the most powerful people in the country. [2:26] He was driven by the same raw energy that has always attracted the most ambitious to America. You did not need to be a Rockefeller to know the basics of the dream: Start at the bottom, fight your way to the top. [3:35] He believed in staying close to the action—in the fields with the workers, in the dives with the banana cowboys. You drink with a man, you learn what he knows. There is no problem you can’t solve if you understand your business from A to Z. [4:33] His real life began when he saw that first banana. He devised a plan soon after: he would travel to where the fruit boats arrived from Central America, purchase a supply of his own, carry them back to Selma, and go into business. [6:24]See opportunity where others see nothing: The bananas that did not make the cut were designated “ripes” and heaped in a sad pile. These bananas, though still good to eat, would never make it to market in time. As far as the merchants were concerned, they were trash. Sam grew fixated on ripes, recognizing a product where others had seen only trash. [6:54] As far as he was concerned, ripes were considered trash only because Boston Fruit were too slow-footed to cover ground. It was a calculation based on arrogance. I can be fast where others have been slow. I can hustle where others have been satisfied with the easy pickings of the trade. Zemurray stumbled upon a niche: overlooked at the bottom of the trade. [8:08]His business grows rapidly: Because Zemurray discovered a patch of fertile ground previously untilled, his business grew by leaps and bounds. In 1899, he sold 20,000 bananas. Within a decade he would be selling more than a million bananas a year. [9:30]An interesting story about Why was Zemurray’s company so profitable so quickly? Hint: No expenses. [13:47]Was there a precursor? Of course there was. The world is a mere succession of fortunes made and lost, lessons learned and forgotten and learned again. [17:59] If you looked into his eyes you would see the machinery turning. Part of him is always figuring. You listen to a man like that. He knows something that can’t be taught. [20:19]Study those that came before you. Avoid their fate: He paid special attention to the old-timers who had been in the trade since the days of wind power. They were former big timers now just trying to survive. [20:40] Zemurray goes deep into debt to buy as much land as possible: There are times when certain cards sit unclaimed in the common pile, when certain properties become available that will never be available again. A good businessman feels these moments like a fall in the barometric pressure. A great businessman is dumb enough to act on them when he cannot afford to. [23:13] He believed in the transcendent power of physical labor—that a man can free his soul only by exhausting his body. [26:07] Unlike most of his competitors, he understood every part of the business. He was contemptuous of banana men who spent their lives in the North, far from the plantations. Those schmucks, what do they know? They’re there, we’re here! [26:21] These banana companies were so powerful that they overthrew presidents. Multiple times. [27:47] Pretend you are Sam Zemurray. You’ve been summoned to Washington, called to account by the Secretary of State, warned. What do you do? Put your head down, shut up? Sit in a corner? No Sam Zemurray. [29:57] He disdained bureaucracy, hated paperwork. He ran his entire business in his head. He will telephone division managers in half a dozen countries, correlate their reports in his head and reach his decision without touching a pencil. [34:06]He was respected because he understood the trade. By the time he was 40 he had served in every position. He had worked on the docks, on the ships and railroads, in the fields and warehouses. He had ridden the mules. He had managed the fruit and money, the mercenaries and government men. He understood the meaning of every change in the weather, the significance of every date on the calendar. There was not a job he could not do, nor a task he could not accomplish. He considered it a secret to his success. He refrained from anything that took him away from his work. [37:46] Manager vs Maker Schedule [39:43] He began to visit boatyards. He wanted to build a fleet so he would never again be dependent on other companies to haul his product. He wanted control. In everything. [40:32] It was a contrast of styles: the executives who ran United Fruit had taken over from the founders and were less interested in risking than in persevering. Zemurray was the founder, forever on the attack, at work, in progress, growing by trial and error, ready to gamble it all. [42:53] Here was a self-made man, filled with the most dangerous kind of confidence: he had done it before and believed he could do it again. This gave him the air of a berserker, who says, if you’re going to fight me, you better kill me. If you’ve ever known such a person, you will recognize the type at once. If he does not say much, it’s because he considers small talk a weakness. Wars are not won by running your mouth. I’m describing a once essential American type that has largely vanished. Men who channeled all their love and fear into the business, the factory, the plantation, the shop. [46:42] Two different approaches to buying land. One entrepreneurial, one the opposite: United Fruit did what big bureaucracy-heavy companies always do, hired lawyers and investigators to find the identity of the true owner. This took months. In the meantime, Zemurray simply bought the land from them both. He bought it twice—paid a little more, yes, but if you factor in the cost of all those lawyers, probably still spent less than United Fruit and came away with the prize. [47:50]Why the book is called The Fish That Ate The Whale [49:46] The greatness of Zemurray lies in the fact that he never lost faith in his ability to salvage a situation. Bad things happened to him as bad things happen to everyone, but unlike so many he was never tempted by failure. He never felt powerless or trapped. He was an optimist. He stood in constant defiance. For every move there is a countermove. For every disaster, there is a recovery. He never lost faith in his own agency. [51:45]You gentlemen have been fucking up this business long enough. I’m going to straighten it out. [58:07]Sam’s defining characteristic was his belief in his own agency, his refusal to despair. No story is without the possibility of redemption; with cleverness and hustle, the worst can be overcome. I can’t help but feel that we would do well by emulating Sam Zemurray. [1:04:05]  ----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

Discover why nurturing creativity is key to innovation. Embrace the idea of hiring unconventional thinkers and recognize the value in diverse personalities. Learn how championing bad ideas can lead to great breakthroughs, like WD-40's journey. Understand the importance of being open to criticism and how it shapes visionary success. Engage with unique methods to identify talent through simple questions about book preferences. All these insights aim to foster an environment where creativity thrives amidst skepticism.