What I learned from reading Against the Odds: An Autobiography by James Dyson for the 4th time. You can also find the book on Book Finder. ----Follow one of my favorite podcasts Invest Like The Best and listen to episode 293 David Senra: Passion and Pain ----Episode Outline: [4:30] Invention: A Life by James Dyson (Founders #205)[2:41] I am a creator of products, a builder of things, and my name appears on them. That is how I make a living and they are what have made my name at least familiar in a million homes.[11:00] Isambard Kingdom Brunel: The Definitive Biography of The Engineer, Visionary, and Great Briton by L.T.C. Rolt. (Founders #201)[13:10] After the idea there is plenty of time to learn the technology. My first cyclonic vacuum cleaner was built out of cereal packets and masking tape long before I understood how it worked.[14:15] Difference for the sake of it. In everything. Because it must be better. From the moment the idea strikes, to the running of the business. Difference, and retention of total control.[18:00] I would not be dragged into something I didn't want to do.[22:40] They were all running round and round the track like a herd of sheep and not getting any quicker. Difference itself was making me come in first.[23:34] As I grew more and more neurotic about being caught from behind I trained harder to stay in front. To this day it is the fear of failure, more than anything else, which makes me keep working at success.Isambard Kingdom Brunel was unable to think small, and nothing was a barrier to him. The mere fact that something had never been one before presented, to Brunel, no suggestion that the doing of it was impossible. He was fired by an inner strength and self-belief almost impossible to imagine in this feckless age.  While I could never lay claim to the genius of a man like that —I have tried to be as confident in my vision as he was.  And at times in my life when I have encountered difficulty and self-doubt I have looked to his example to fire me on.[30:33] The vision of a single man pursued with dogged determination that was nothing less than obsession.[36:30] The root principle was to do things your way. It didn't matter how other people did it.[41:38] You simply cannot mix your messages when selling something new. A consumer can barely handle one great new idea, let alone two, or even several.[49:30] A direct relationship with the customer is the holy grail. Do not abandon it.[52:00] One of the strains of this book is about control. If you have the intimate knowledge of a product that comes with dreaming it up and then designing it, I have been trying to say, then you will be the better able to sell it and then, reciprocally, to go back to it and improve it. From there you are in the best possible position to convince others of its greatness and to inspire others to give their very best efforts to developing it, and to remain true to it, and to see it through all the way to its optimum point. To total fruition, if you like.[1:02:20] Before I went into production with the dual cyclone I had built 5,127 prototypes.[1:02:30] There is no such thing as a quantum leap. There is only dogged persistence – and in the end you make it look like a quantum leap.[1:03:30] While it is easy, of course, for me to celebrate my doggedness now and say that it is all you need to succeed, the truth is that it demoralized me terribly. I would crawl into the house every night covered in dust after a long day, exhausted and depressed because that day's cyclone had not worked. There were times when I thought it would never work, that I would keep on making cyclone after cyclone, never going forwards, never going backwards, until I died.[1:06:20] I was broke, hungry and depressed. The outlook was very dreary. My doggedness and self-belief in the absence of any real evidence that they were justified was beginning to look more and more like insanity.[1:10:30] Persistent trial and error allows them to wake up one morning after many, many mornings with a world beating product.[1:13:15] I began to consider forgetting the whole thing and doing something else with my life.[1:16:00] The poor buggers were so wrong, to think that designers knew nothing about business, or about marketing, or is about selling. It is the people who make the things that understand them, and understand what the public wants.[1:21:30] Go further. There is nothing wrong with making the consumer laugh. Conventional looks do not make a product more marketable.----Join my free email newsletter to get my top 10 highlights from every book----“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

Steve Jobs, co-founder of Apple and visionary entrepreneur, shares insights on how to make the most of our fleeting time, his admiration for exceptional ideas, the power of setting high standards, and his journey of creating something wonderful. The podcast explores Steve's early life, his passion for great products, and his determination to build new companies. It also delves into the importance of intuition, creativity, and understanding the personal struggles behind successful individuals.

What I learned from having lunch with Sam Zell and reading Zeckendorf: The Autobiography of The man Who Played a Real-Life Game of Monopoly and Won the Largest Real Estate Empire in History by William Zeckendorf. ----Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.comYou can read, reread, and search all my notes and highlights from every book I've ever read for the podcast. You can also ask SAGE any question and SAGE will read all my notes, highlights, and every transcript from every episode for you. A few questions I've asked SAGE recently: What are the most important leadership lessons from history's greatest entrepreneurs?Can you give me a summary of Warren Buffett's best ideas? (Substitute any founder covered on the podcast and you'll get a comprehensive and easy to read summary of their ideas) How did Edwin Land find new employees to hire? Any unusual sources to find talent?What are some strategies that Cornelius Vanderbilt used against his competitors?Get access to Founders Notes here. Episode Outline: [27:31] Start of episode on Zeckendorf’s autobiography[27:44] 26 years of work was now moving down the chute.[28:36] The secret of any great project is to keep it moving, keep it from losing momentum.[34:55] If you want to understand the entrepreneur, study the juvenile delinquent. — Let My People Go Surfing: The Education of a Reluctant Businessman by Yvon Chouinard. (Founders #297)[36:21] Zeckendorf: Revisiting the legacy of a master builder[45:08] This ruthless industry has created far more bankruptcies than it has billionaires. — Risk Game: Self Portrait of an Entrepreneur by Francis Greenburger. (Founders #243)[48:49] If you want to know whether you are destined to be a success or a failure in life, you can easily find out. The test is simple and it is infallible: Are you able to save money? If not, drop out. You will lose. You may think not, but you will lose as sure as you live. The seed of success is not in you. — James J. Hill: Empire Builder of the Northwest by Michael P. Malone.[53:20] I brought energy and drive. I became the chief enthusiast.[1:08:42] I was also deeply in debt. Never, except for rare moments, have I ever had my head very far above the financial water and never have I Iet this trouble me.[1:10:51] The importance to me of being on the heights was that in an hour I could achieve what previously would've taken a year or more of effort to perform.[1:11:13] One way to succeed is by aiding and supporting the position of others through new or ingenious ideas or projects. This usefulness to others is in large part the reason for my own success.[1:14:44] Am I Being Too Subtle?: Straight Talk From a Business Rebel by Sam Zell. (Founders #269)[1:15:04] The Invisible Billionaire: Daniel Ludwig by Jerry Shields. (Founders #292)[1:21:28] The Patriarch: The Remarkable Life and Turbulent Times of Joseph P. Kennedy by David Nasaw [1:25:52] More businesses die from indigestion than starvation. — The HP Way: How Bill Hewlett and I Built Our Company by David Packard. (Founders #291)[1:29:23] Wisdom is prevention. –Charlie Munger + Be hard to kill. —Paul Graham (Founders #275)----Join my free email newsletter to get my top 10 highlights from every book----“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 rereading Let My People Go Surfing: The Education of a Reluctant Businessman by Yvon Chouinard.----Get access to the World’s Most Valuable Notebook for Founders at Founders Notes----Follow Founders Podcast on YouTube ----Follow one of my favorite podcasts Invest Like The Best !----[3:45] One of my favorite sayings about entrepreneurship is: 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.”[4:32] The original intent for writing Let My People Go Surfing was for it to be a philosophical manual for the employees of Patagonia. We have always considered Patagonia an experiment in doing business in unconventional ways.[7:48] MeatEater Podcast #188 Yvon Chouinard on Belonging to Nature[7:55] The first part of our mission statement, “Make the best product,” is the cornerstone of our business philosophy. “Make the best” is a difficult goal. It doesn’t mean “among the best” or the “best at a particular price point.” It means “make the best,” period.[9:58] When I die and go to hell, the devil is going to make me the marketing director for a cola company. I’ll be in charge of trying to sell a product that no one needs, is identical to its competition, and can’t be sold on its merits. I’d be competing head-on in the cola wars, on price, distribution, advertising, and promotion, which would indeed be hell for me. I’d much rather design and sell products so good and unique that they have no competition.[14:32] We were like a wild species living on the edge of an ecosystem: adaptable, resilient, and tough.[14:49] I believe the way towards mastery of any endeavor is to work towards simplicity. The more you know, the less you need.[15:49] The Little Prince by Antoine de Saint-Exupéry[17:59] Complexity is often a sure sign that the functional needs have not been solved. Take the difference between the Ferrari and the Cadillac of the 1960s. The Ferrari’s clean lines suites its high-performance aims. The Cadillac really didn’t have any functional aims. It didn’t have steering, suspension, aerodynamics, or brakes appropriate to its immense horsepower. All it had to do was convey the idea of power, creature comfort, of a living room floating down the highway to the golf course. So, to a basically ugly shape were added all manner of useless chrome: fins at the back, breasts at the front. Once you lose the discipline of functionality as a design guidepost, the imagination runs amok. Once you design a monster, it tends to look like one too.[21:29] Shoe Dog: A Memoir by the Creator of Nike by Phil Knight. (Founders #186)[28:02] Becoming Trader Joe: How I Did Business My Way and Still Beat the Big Guys by Joe Coulombe. (Founders #188)[28:55] There are different ways to address a new idea or project. If you take the conservative scientific route, you study the problem in your head or on paper until you are sure there is no chance of failure. However, you have taken so long that the competition has already beaten you to market. The entrepreneurial way is to immediately take a forward step and if that feels good, take another, if not, step back. Learn by doing, it is a faster process.[31:33] Can a company that wants to make the best-quality outdoor clothing in the world be the size of Nike? Can a ten-table, three-star French restaurant retain its third star when it adds fifty tables? The question haunted me throughout the 1980s as Patagonia evolved.[35:47] I was still wondering why I was really in business.[38:17] We had to begin to make all of our decisions as though we would be in business for a hundred years.[39:02] Made in Japan: Akio Morita and Sony by Akio Morita. (Founders #102)[39:13] Jeff Bezos on what he learned from Akio Morita and how it influenced the building of Amazon:"Right after World War II, Akio Morita, the guy who founded Sony, made the mission for Sony that they were going to make Japan known for quality.And you have to remember, this was a time when Japan was known for cheap, copycat products. And Morita didn’t say we’re going to make Sony known for quality. He said we’re going to make Japan known for quality. He chose a mission for Sony that was bigger than Sony.And when we talk about earth’s most customer-centric company, we have a similar idea in mind. We want other companies to look at Amazon and see us as a standard-bearer for obsessive focus on the customer as opposed to obsessive focus on the competitor."[42:13] Keep your company in Yarak: Super alert, hungry but not weak, and ready to hunt.[42:45] Against The Odds: An Autobiography by James Dyson (Founders #200)[44:02] Jay Z: What am I here for? To be second best? I don’t think so.[44:13] The more you know, the less you need.[51:33] Teach, inform, and inspire. Do so relentlessly and the sales will follow.[53:04] I was taught by some wise people that if you manage the top line of your company-your customers, your products, your strategy-then the bottom line will follow. But if you manage the bottom line of the company and forget about the rest, you’ll eventually hit the wall because you'll take your eyes off the prize. — Steve JobsIn the Company of Giants: Candid Conversations With the Visionaries of the Digital World by Rama Dev Jager and Rafael Ortiz. (Founders #208)[56:03] Quality, not price, has the highest correlation with business success. Whenever we are faced with a serious business decision, the answer almost always is to increase quality.[56:59] Huberman Lab Podcast[57:19]  I cannot imagine any company that wants to make the best product of its kind being staffed by people who do not care passionately about the product.[57:39] One of my all time favorite quotes:A master in the art of living draws no sharp distinction between his work and his play; his labor and his leisure; his mind and his body; his education and his recreation. He hardly knows which is which. He simply pursues his vision of excellence through whatever he is doing, and leaves others to determine whether he is working or playing. To himself, he always appears to be doing both.[58:56] You should not see change as a threat, rather as an opportunity to grow and evolve to a higher level.----Get access to the World’s Most Valuable Notebook for Founders at Founders Notes----Join my free email newsletter to get my top 10 highlights from every book----“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

David Rosenthal and Ben Gilbert — of the Acquired podcast — invited me to San Francisco for a discussion on our mutual obsession: spending every waking hour studying the history of entrepreneurship and sharing those lessons on our podcasts. ----Follow Acquired in your podcast player here or at Acquired.fm This episode is brought to you by: Tiny: Tiny is the easiest way to sell your business. Tiny provides quick and straightforward exits for Founders. Get in touch with Tiny by emailing hi@tiny.com. [3:00] David’s time with Charlie Munger[5:30] Henry Flagler after Standard Oil[8:30] What makes a great biography, and how to capture all sides of complex characters?[11:00] Studying history is a form of leverage to achieve success[13:00] How do we figure out what the true story is for an episode we're doing?[20:30] Silicon Valley should focus more on durability than growth[21:30] How David got into reading biographies and podcasting[25:40] What were each of their influences before starting Acquired and Founders?[35:30] How to suck less over time[37:30] What motivates, Ben, David, and David to get better?[45:00] Dead ends: business model changes, paid podcasts, changing the name to “Adapting”, and Senra's “Autotelic”[51:30] “You’re not advertising to a standing army, you’re advertising to a moving parade”[56:00] Comparison of podcasting business models[1:00:10] Senra’s insane Readwise "healthy twitter" habit[1:04:30] Is it possible for the ultra-wealthy not to mess up their kids?[1:14:30] The fleeting moments you get to spend with your kids[1:17:00] The value of building relationships with best-in-class peers[1:19:30] How the book publishing industry works[1:28:45] How to differentiate yourself as an investor in 2023?[1:38:30] The greatest historical examples as content marketing[2:02:00] The best businesses are cults (and Senra starts one on the episode)[2:07:00] Senra gives feedback to Ben and David on Acquired episode format[2:15:30] Steve Jobs’ 1997 product matrix[2:17:00] The moral imperative to market products that help people[2:23:00] Ray Kroc and Steve Jobs: deeply flawed founders[2:23:30] The founders we idolize are world-builders[2:28:00] When yachts and jets are underpriced assets[2:32:00] How to compete when money is cheap vs. when there are real interest rates[2:39:30] When Ben and David have fixed broken episodes in post-production[2:44:30] Why masters of craft are so interesting to study[2:45:30] Should you listen to advice?[2:51:00] David’s first job detailing cars[2:52:30] The Cuban experience immigrating to Miami[3:01:00] College entrepreneurship programs[3:04:00] Ben’s experience learning UNIX as a kid[3:08:30] David remembers Tim Ferriss guest lecturing in collegeIf you have scrolled this far and still haven't followed Acquired in your podcast player please do so here! 

What I learned from reading The Taste of Luxury: Bernard Arnault and the Moet-Hennessy Louis Vuitton Story by Nadege Forestier and Nazanine Ravai.----Get access to the World’s Most Valuable Notebook for Founders at Founders Notes----Follow one of my favorite podcasts Invest Like The Best !----[1:16] I am the boss. I shall be here on Monday morning and I shall be running the company in person.[4:30] The Taste of Luxury: Bernard Arnault and the Moet-Hennessy Louis Vuitton Story by Nadege Forestier and Nazanine Ravai[5:01] I highly recommend listening to Acquired’s episode on LVMH. It is excellent.[5:16] Business Breakdowns episode LVMH: The Wolf in Cashmere’s Conglomerate[6:16] Napoleon: A Concise Biography by David Bell. (Founders #294)[6:18] Mind of Napoleon: A Selection of His Written and Spoken Words by Napoleon and J. Christopher Herold.[7:20] 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. — Driven From Within by Michael Jordan (Founders #213)[9:00] “I am very competitive. I always want to win.” —Bernard Arnault[10:39] What I'm interested is in doing.[11:43] He believed in extreme discretion.[11:56] I Had Dinner With Charlie Munger (Founders #295)[16:17] Beneath his civilized appearance there lurked the spirit of an adventurer. He wanted more.[17:45] He wanted to go far. He had an iron will. At a laboriously won tennis match he said “I may lose once but I never lose twice.” —Bernard Arnault[19:45] Problems are just opportunities in work clothes.[23:30] Arnault remained inflexible. He wanted control. There was no question of his becoming the Willots’ partner.[24:15] Far from discouraging him, this consensus of opinion (that this would lead to failure) acted as a stimulus.[24:25] “I remember people telling me, it does not make sense to put together so many brands. And it was a success, it was a recognized success, and for the last 10 years now, every competitor is trying to imitate. I think they are not successful, but they try.” —Bernard Arnault[30:43] “In business, I think the most important thing is to position yourself for long-term and not be too impatient, which I am by nature, and I have to control myself.” —Bernard Arnault[33:35] He had such an appetite for victory and such a capacity for work that he was bound to succeed.[35:26] “People think of politicians having true power, but that’s less and less true. After all, they are often constrained or being edged into a corner by a whole series of contingencies ... I’m lucky in that I can say, ‘I want my group to be in such and such a situation in 10 or 20 years’ time’ and then formulate a plan to make that happen.” –Bernard Arnault[42:37] Those on the margins often come to control the center.[43:10] Invest Like the Best episode Doug Leone —Lessons From A Titan[48:31] Difference for the sake of it. In everything. Because it must be better. From the moment the idea strikes, to the running of the business. Difference, and retention of total control. — Against The Odds: An Autobiography by James Dyson (Founders #200)[1:01:20] My relationship to luxury goods is really very rational. It is the only area in which it is possible to make luxury profit margins.[1:02:45] Arnault wants to take power everywhere and immediately.[1:07:40] Arnault is an iron fist in an iron glove.----Get access to the World’s Most Valuable Notebook for Founders at Founders Notes----“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

Investor and business partner of Warren Buffett, Charlie Munger, discusses the importance of rationality and patience in investing, the rise of Korea and the inspiring story of Chungju Young, sacrificing everything for success, the power and importance of a good brand, and Charlie Munger's three rules for a successful career.

What I learned from reading Napoleon: A Concise Biography by David Bell.----Get access to the World’s Most Valuable Notebook for Founders at Founders Notes----Follow Founders Podcast on YouTube ----Follow one of my favorite podcasts Invest Like The Best ![3:00] He could think quicker and along more individual and original lines than any of them.[4:00] John D: The Founding Father of the Rockefellers by David Freeman Hawke. (Founders #254)[4:14] Miami meetup with Shane Parrish[7:31] His life was enormously important, endlessly fascinating, and connected to some of the most controversial and constantly reinterpreted events in the world history.[8:37] Paul Johnson’s books:Churchill by Paul Johnson. (Founders #225)Mozart: A Life by Paul Johnson. (Founders #240)Socrates: A Man for Our Times by Paul Johnson. (Founders #252) [10:54] Heroes: From Alexander the Great and Julius Caesar to Churchill and de Gaulle by Paul Johnson. (Founders #226)[12:20] He knew the importance of actively crafting his image in all available media.[15:08] Napoleon found comfort and companionship in books[17:02] The revolution was overturning age old hierarchies and giving worldwide prominence to previously obscure figures.[17:24] Napoleon was ruthless.[18:36] Only after that battle did I believe myself to be a superior man. And did the ambition come to me of executing the great things, which so far had been occupying my thoughts only as a fantastic dream.[20:00] Many are the historical opportunities that have been lost for lack of talent or vision. In Napoleon's case, the man met his hour.[20:13] He could see in a moment how to maneuver everything for maximum effect.[21:03] Napoleon was a man of stone and iron.[26:27] Napoleon was something new and the keenest observers understood it.[29:06] I wanted to rule the world, who wouldn't have in my place?[29:26] If papa could see us now.[29:45] Franklin & Washington: The Founding Partnership by Edward Larson. (Founders #251)[32:15] You might as well send a cow in pursuit of a rabbit. The Indians were accustomed to these woods.[35:30] The Empire was increasingly coming to resemble a skyscraper built in haste without a proper foundation.[35:58] Driven: An Autobiography by Larry Miller. (Founders #168)[39:24] The key to victory was to plan and pursue a war exactly contrary to what the enemy wants.[39:49] Hardcore History Ghosts of the Ostfront series[41:08] The distracted do not beat the focused.[42:36] Success is never permanent. The same person that built the empire, destroyed it.----Get access to the World’s Most Valuable Notebook for Founders at Founders Notes----Follow Founders Podcast on YouTube ----Join my free email newsletter to get my top 10 highlights from every book----“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 rereading Grinding It Out: The Making of McDonald's by Ray Kroc.----Get access to the World’s Most Valuable Notebook for Founders at Founders Notes----Follow Founders Podcast on YouTube ----Follow one of my favorite podcasts Invest Like The Best ![2:00] I have always believed that each man makes his own happiness and is responsible for his own problems.[4:00] I was fascinated by the simplicity and effectiveness of the system they described that night.Each step in producing the limited menu was stripped down to its essence and accomplished with a minimum of effort.[5:00] When I flew back to Chicago that fateful day in 1954, I had a freshly signed contract with the McDonald brothers in my briefcase. I was a battle-scarred veteran of the business wars, but I was still eager to go into action. I was 52 years old. I had diabetes and incipient arthritis. I had lost my gall bladder and most of my thyroid gland in earlier campaigns. But I was convinced that the best was ahead of me.[6:00] It’s not what you do it’s how you do it:Ralph Lauren: The Man Behind the Mystique by Jeffrey Trachtenberg. (Founders #288)Hard Drive: Bill Gates and the Making of the Microsoft Empire by James Wallace and Jim Erickson. (Founders #290)The Invisible Billionaire: Daniel Ludwig by Jerry Shields. (Founders #292)[8:00] I never considered my dreams wasted energy. They were invariably linked to some form of action.[10:00] For me, work was play.[13:00] I vowed that this was going to be my only job. I was going to make my living at it and to hell with moonlighting of any kind. I intended to devote every ounce of my energy to selling, and that's exactly what I did.[14:00] Francis Ford Coppola: A Filmmaker's Life by Michael Schumacher. (Founders #242)[20:00] This was the first phase of grinding it out—building my personal monument to capitalism. I paid tribute, in the feudal sense, for many years before I was able to rise with McDonald's on the foundation I had laid.[21:00] Make every detail perfect and limit the number of details to perfect.[26:00] I was putting every cent I had and all I could borrow into this project.[28:00] Perfection is very difficult to achieve and perfection was what I wanted in McDonald's. Everything else was secondary.[29:00] If my competitor was drowning, I'd put a hose in his mouth.[44:00] Titan: The Life of John D. Rockefeller by Ron Chernow. (Founders #248)John D: The Founding Father of the Rockefellers by David Freeman Hawke. (Founders #254)[47:00] The advertising campaign we put together was a smash hit. It turned Californians into our parking lots as though blindfolds had been removed from their eyes.[48:00] Authority should go with the job.----Get access to the World’s Most Valuable Notebook for Founders at Founders Notes----Follow Founders Podcast on YouTube ----Join my free email newsletter to get my top 10 highlights from every book----“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 rereading The Invisible Billionaire: Daniel Ludwig by Jerry Shields. ----Get access to the World’s Most Valuable Notebook for Founders at Founders Notes----Follow one of my favorite podcasts Invest Like The Best !----[2:00] Obsessed with privacy, Ludwig pays a major public relations firm fat fees to keep his name out of the papers.[4:00]  An associate speaks of his unlimited ingenuity in dreaming up new ways of doing things.[5:00] Ludwig’s most notable characteristic, besides his imagination and pertinacity, is a lifelong penchant for keeping his mouth shut.[5:00] I'm in this business because I like it. I have no other hobbies.[6:00] Holding strongly to an opinion, purpose, or course of action, stubbornly or annoyingly persistent.[8:00] Risk Game: Self Portrait of an Entrepreneur by Francis Greenburger (Founders #243)[10:00] At his peak, he owned more than 200 companies in 50 countries.[23:00] War makes the demand for Ludwig's products and services skyrocket.[25:00] Hard Drive: Bill Gates and the Making of the Microsoft Empire by James Wallace and Jim Erickson. (Founders #290)[28:00] He did not mellow as he grew richer and older.[28:00] Some years later, the captain of a Ludwig ship made the extravagant mistake of mailing in a report of several pages held together by a paper clip. He received a sharp rebuke for his prodigality: "We do not pay to send ironmongery by air mail!"[29:00] Ludwig’s tightfistedness, however, persisted after the Depression, putting him in sharp contrast to such free spenders as Onassis and Niarchos. It also was largely responsible for many of his innovations in the shipbuilding industry.[29:00] Onassis: An Extravagant Life by Frank Brady. (Founders #211)[30:00] Ludwig’s ridding his ships of any feature that did not contribute to profits pleased his own obsessive sense of economy and kept him a step ahead of the competition. When someone asked why he didn't put a grand piano aboard his ships, as Stavros Niarchos did, Ludwig snapped, "You can't carry oil in a grand piano."[31:00] Stay in the game long enough to get lucky.[32:00] The world is a very malleable place. If you know what you want, and you go for it with maximum energy and drive and passion, the world will often reconfigure itself around you much more quickly and easily than you would think.  The Pmarca Blog Archive Ebook by Marc Andreessen (Founders #50)[37:00] The yacht was as much a business craft as any of his tankers and probably earned him more money than any of them.[40:00] Like the Rockefeller organization, Ludwig had mastered the practice of keeping his money by transferring it from one pocket, one company to another, while appearing to spend it.[42:00] He had learned something by now. Opportunities exist on the frontiers where most men dare not venture, and it is often the case that the farther the frontier, the greater the opportunity.[43:00] The way to escape competition is to either do something no one else is doing or do it where no one else is doing it.[43:00] Much of Ludwig's success was due to his willingness to venture where more timid entrepreneurs dared not go.----Get access to the World’s Most Valuable Notebook for Founders at Founders Notes----Join my free email newsletter to get my top 10 highlights from every book----“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