The Wisdom Wall

“one thing that we do in Silicon Valley is we overrate, overvalue growth rates and undervalue durability. And he's like, that doesn't make sense for a technology company because all your profits, the vast majority of profits are 20 years in the future. And so if you're trying to optimize for growth and that, that, that…”

“And he's like, he definitely feels that some of them are going to be less motivated because they're born rich, but he said this was the most surprising thing. But he goes, you have to give them the money anyways or they're going to hate you for it.”

“most of these people are just so, they're like, best in class in this one dimension in the world, and of course, to get that, they had to, to be poured, they had to, they couldn't optimize all other areas of the life at the, at what they did for, like, their work.”

“Colts are the best businesses, though.”

“if you feel your product can improve people's lives, I think you guys already know, cause you get thousands of, you Messages, just like I do, that yes, listening to acquired, listening to founders will improve people's lives and work, right? Then you have a moral obligation to get good at marketing.”

“He goes, he makes the argument that they're actually underpriced assets. And I was like, Ooh, tell me more. He's like, that's, that's not, what I would expect to hear. Yeah. So I'm going to tell you this book that just proved his point. I actually got to text him and tell him this. Um, so he's like, they, they use it…”

“the low cost structure thing, that's, that's not, that's a Walton thing. That's a sole price thing. That's a Jeff Bezos thing. That's a Rockefeller thing. That's, that's the most common theme in the history of entrepreneurship.”

“out of, you know, the 330 entrepreneurs that I've studied for the podcast so far. It's shocking how many of them made the mistake of over-optimizing for their professional success at the detriment to their personal life, their relationships, and their happiness.”

“You can't understand Jeff Bezos until you study Sam Walton. You can't understand Sam Walton. So you understand JC Penney and sole price.”

“Charlie has an almost complete indifference to problems. Troubles from time to time should be expected. This is inescapable, so why would you let it bother you?”

“This is what Ogilvy said. Ogilvy's like, if you need advertising to sell your product, it's not a marketing expense, it's a production cost. It's a pro, it's a pro, it's actual, uh, cost of manufacturing your product.”

“He said two words. Improved odds. That is the best, from a founder's perspective, that is the best description. It's like, if I take investment from you, as opposed to this other guy over here, this other girl over there, like, who is going to be, founders don't give a fuck about the investors. All they care about is,…”

“It changes the dynamic from, hey, I'm Chris. I'm setting an outbound. Hey, I'm Chris. This is what I do. This is like, can we talk? Can we set up a meeting to, oh, Chris, love your podcast. How can I get five million in your front? Yep. It reverses it because, you know, they get to know you as a person.”

“one of the superpowers of podcasting is it's authenticity scaled.”

“Sam Hinckley, our mutual friend, actually gave me the way to think about this, and it's called The Founder of Your Family. Right? And it's the person that, like, and I used to call them, and it was a terrible name, but generational inflection points, because you'd read this in the biography where you have, like,…”

“It's like, you're not advertising to a standing army. You're advertising to a moving parade.”