Founders

#70 Mark Spitznagel: The Dao of Capital

What I learned from reading <a href="https://amzn.to/2DOhCtj">The Dao of Capital: Austrian Investing in a Distorted World</a> by Mark Spitznagel.Klipp's Paradox (0:01)the whole point of my approach to investing is that we must be willing to adopt the indirect route to achieve our goals (14:00)finding his life's work (19:00)if my children will only read one book on economics I would be <a href="https://amzn.to/2VNV6uQ">Economics in One Lesson</a> (25:30)why it is always possible to start new, successful companies (30:00)the point is not to go slow to stay glow. it is to go slow now so you can go faster later (34:15)Robinson Crusoe and roundabout production (39:30)Henry Ford as the quintessential roundabout entrepreneur (45:00)how Mark uses roundabout in his investing (54:00)—“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: <a href="https://www.amazon.com/shop/founderspodcast">All the books featured on Founders Podcast</a>

Learn from history's greatest entrepreneurs. Every week I read a biography of an entrepreneur and find ideas you can use in your work. This quote explains why: "There are thousands of years of history in which lots and lots of very smart people worked very hard and ran all types of experiments on how to create new businesses, invent new technology, new ways to manage etc. They ran these experiments throughout their entire lives. At some point, somebody put these lessons down in a book. For very little money and a few hours of time, you can learn from someone’s accumulated experience. There is so much more to learn from the past than we often realize. You could productively spend your time reading experiences of great people who have come before and you learn every time." —Marc Andreessen