Walmart

“Sam Walton built one of the most valuable personal fortunes in the history of the world because he found value in unexpected places, which was these rural, small towns throughout America that other retailers ignored.”

“Sam Walton is on record saying, hey, I stole more ideas from Sol Price than anybody else.”

“I would argue that he's the most influential retailer of all time. If you factor in how many people Are on record saying that they took Sol's ideas and applied it to their own life and work. Jim Senegal of Costco, obviously. Sam Walton of Walmart. Jeff Bezos o…”

“Sam Walton invented practically nothing, but he copied everything anybody ever did that was smart, and he did it with more fanaticism, so he blew right by them all.”

“I would also say this is why founders that still run and control their company do so over a long period of time have such a massive, massive advantage. Because think about it. It's like Sam Walton talks about, you know, I never really had to invest in much. I …”

“These formidably efficient firms kept costs low and passed most of their savings back to consumers who've reciprocated by doing more business with them.”

“And so in 1979, Sam Walton gives the go ahead to invest five hundred million dollars in 1979 dollars in the most advanced computer system of his day.”

“30 years later, Jones still owns that piece of property, which now has long been paid off. There's a Walmart that is on it, on that piece of property. And then after that, they develop this new interstate highway. So this piece of land that he buys, they build…”