Podcast Notes Playlist: Latest Episodes

Rich Roll Podcast

Key Takeaways

• Find your talent, not your passion: Being great at something that pays well will make you passionate about whatever that thing is
• Fostering the American Middle Class is the country’s greatest innovation
• You become a man when you add surplus value to society, i.e. when you produce more than you consume
• People under the age of 40 used to control 19% of the GDP, in terms of their wealth; it has since been cut to 9%
• “The most dangerous person in the world is a man who is broken and alone.” – Scott Galloway
• America used to be about giving unremarkable kids remarkable opportunities; the country has since gone away from this
• It is not obvious how to become economically secure without working hard
• Billionaires will tell you to follow your passion, but they probably made their billions in iron ore and smelting
• Near-peer adversaries will not choose to take on the U.S. kinetically; instead, they will likely use AI and other tools to attack America from within and exploit the ongoing loneliness epidemic
• Young professionals should not fall victim to the “myth of balance”; it is very rare to achieve professional success while living a balanced life

Read the full notes @ podcastnotes.org

This week, I am joined by Scott Galloway, NYU professor, best-selling author, serial entrepreneur, and podcaster, to discuss the multifaceted challenges many young men face today. He underscores the lack of empathy and understanding many experience, attributing it to societal expectations and the impact of technology. Scott emphasizes the winner-take-most economy, which limits opportunities for many young men. Drawing from personal understanding, he stresses the importance of education, support, and the presence of positive male role models. The discussion encompasses economic challenges, the decline of mentorship programs, and the need for reform in higher education institutions. Addressing societal constructs of masculinity and the importance of vulnerability and integrity, Scott advocates embracing emotions and seeking help to navigate life’s hurdles. He stands apart as a model of healthy, grounded masculinity—one defined by humility, emotional intelligence, and a commitment to uplifting the collective rather than indulging narrow self-interest.

Enjoy!

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rational vc

Key Takeaways

• People often underestimate the role of chance in their achievements
• Mild success can be explainable by skill, but wild success is attributable to variance
• In the long run, the “lucky” regress to the mean
• Understand Power Laws when investing; the wins of a few investments make up for the losses on many investments, and then some
• Survivorship Bias: the tendency to focus on successful individuals without considering those who failed due to random factors
• The probability of the loss must be judged in connection with the magnitude of the outcome; it is not the likelihood of an event that matters, but the magnitude of the outcome in connection with the likelihood of the event that does
• Maximizing the probability of winning does not maximize the expected value from the game
• The confidence in which you make your decision is more important than the expected value that comes from that decision
• A mistake is not something to be determined after the fact, but in the light of the information until that point

Read the full notes @ podcastnotes.org

Every podcast episode we explore a Lindy book, and find ideas you can use in business and life. Join 3,000+ curious minds and avid readers @ rationalvc.com to get free access to essays and exclusive content. For the video version of episode click here.

Timestamps:

(00:00) Intro / chit-chat
(20:11) Randomness & Luck
(24:46) Monte Carlo Simulation
(31:09) Ergodicity
(31:39) Hindsight Bias
(38:00) Survivorship Bias
(39:50) Asymmetric Bets / John & Nero
(49:53) Skewness & Asymmetry
(57:19) Pascal's Wager
(1:00:53) Induction & Chaos Theory
(1:03:22) Chapter 11
(1:08:45) System-1 vs System-2 Thinking
(1:10:03) Satisficing
(1:20:08) Normative vs Positive Thinking
(1:25:52) Signal vs Noise
(1:28:20) Heuristics
(1:33:45) Final Part of Book (Part 3's Importance)
(1:44:41) Favourite Quotes / Our Lives
(2:06:11) Final Thoughts

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Our website (all essays and podcasts): rationalvc.com
Our investment fund: rational.fund
Cyrus' Twitter: x.com/CyrusYari
Iman's Twitter: x.com/iman_olya

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Disclaimer: The materials provided are solely for informational or entertainment purposes and do not constitute investment or legal advice. All opinions expressed by hosts and guests are solely their own opinions and do not reflect the opinion of their employer(s).

#Lindy #knowledge #books

Invest Like the Best

Key Takeaways

• The question to consider: Does AI help the strong get stronger, or does AI allow for new businesses to emerge and disrupt the incumbents?
• The top five technology companies are spending 2x on capital expenditure than the top five energy companies
• Companies should strive to increase the consumer’s willingness to pay
• “Regulation is the friend of the incumbent.” – Bill Gurley
• Venture capital is one of the few asset classes that has high persistence: the past winners tend to be future winners
• Develop a framework that allows you to benefit from the group dynamics of pattern recognition, but that does not tie you to one specific type of pattern
• Instead of nit-picking how an investment may fail, make the primary focus of the discussion: “How big could this be?”
• Investors must capture the extreme events if they wish to outperform
• The sharpest minds desire to know where they are wrong about something

Read the full notes @ podcastnotes.org

My guests today are Bill Gurley and Michael Mauboussin. Bill is a General Partner at Benchmark, and Michael is the Head of Consilient Research for Counterpoint Global. While they are longtime friends with one another, I’d never heard them appear somewhere together so it was a real treat to be able to do this with the two of them. They are two of the leading minds in their fields, and we combined their decades of expertise into one wide-ranging conversation. We discuss the different kinds of increasing returns to scale, the issue of regulatory capture, AI, and hardware. Please enjoy this great conversation with Bill Gurley and Michael Mauboussin.

Listen to Founders Podcast
For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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This episode is brought to you by Tegus, the only investment research platform built for the investor. With traditional research vendors, the diligence process is slow, fragmented, and expensive. That leaves investors competing on how well they can aggregate data — not on their unique ability to analyze insights and make great investment decisions. Tegus offers an end-to-end platform with all the data you need to get up to speed on a company or market: up-to-the-minute financials, customizable models, management and culture checks, and, of course, our vast and growing library of expert call transcripts. Tegus is changing the world of expert research. Learn more and get your free trial at tegus.com/patrick.
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Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.
Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @patrick_oshag | @JoinColossus
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

Show Notes:
(00:00:00) Welcome to Invest Like the Best
(00:03:38) Dissecting the Dynamics of AI, LLMs, and Market Disruption
(00:05:06) The World of AI Investments and Market Trends
(00:08:13) Integration of New Technologies in Business
(00:15:27) The Power of Increasing Returns and Strategic Investments
(00:22:26) Unpacking the Role of Intangibles in Scaling and Innovation
(00:28:54) Transformative Potential of Open Source and Idea Recombination
(00:34:42) The Complex Landscape of Regulation and Innovation
(00:43:17) Today’s Venture Capital Ecosystem
(00:47:08) Impact of Fewer IPOs and Private Market Dynamics
(00:50:38) Capital Allocation in Zero Interest Rate Environments
(00:54:44) The Evolution of Venture Capital and High-Stakes Investment Games
(00:57:21) Exploring New Frontiers: AI, Energy, and Physical World Innovations
(01:01:14) The Power of Learning by Doing
(01:17:49) Working with Genius
(01:26:47) The Value of Teaching, Writing, and Sharing Knowledge

Moonshots and Mindsets with Peter Diamandis ✓ Claim

Key Takeaways

• Take a look at over100 other Joe Rogan Notes!

Read the full notes @ podcastnotes.org

In this episode, recorded during the 2024 Abundance360 Summit, Ray, Geoffrey, and Peter debate whether AI will become sentient, what consciousness constitutes, and if AI should have rights.

01:12 | The Future of AI and Humanity

10:30 | The Ethics of Artificial Intelligence

25:00 |The Dangers and Possibilities of AI

Ray Kurzweil, an American inventor and futurist, is a pioneer in artificial intelligence. He has contributed significantly to OCR, text-to-speech, and speech recognition technologies. He is the author of numerous books on AI and the future of technology and has received the National Medal of Technology and Innovation, among other honors. At Google, Kurzweil focuses on machine learning and language processing, driving advancements in technology and human potential.

Geoffrey Hinton, often referred to as the "godfather of deep learning," is a British-Canadian cognitive psychologist and computer scientist recognized for his pioneering work in artificial neural networks. His research on neural networks, deep learning, and machine learning has significantly impacted the development of algorithms that can perform complex tasks such as image and speech recognition.

Read Ray’s latest book, The Singularity Is Nearer: When We Merge with AI

Follow Geoffrey on X: https://twitter.com/geoffreyhinton

Learn more about Abundance360: https://www.abundance360.com/summit
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Modern Wisdom

Key Takeaways

• Tips for improved cognition: Sleep, exercise, maintain good metabolic health & low risk of cardiovascular disease, give yourself blocks of time for focused work
  • Exercise for cognitive health: Train cardio in a ratio of 80:20, Zone 2:VO2 max
• Warning: Doses of over the counter melatonin are supraphysiologic; reserve melatonin for jet lag but not as a daily sleep aid to avoid suppressing innate melatonin production
• “If you have every single thing imaginable but you have no connection with other people, what do you have?” – Peter Attia
• Poor emotional health is a threat to longevity
  • Your emotions matter but don’t just take them at face value; use them as cue to dive deeper below the surface and consider the origin
  • Considerations for emotional health: (1) Sense of purpose; (2) Satisfaction and joy; (3) achievement; (4) Quality of relationships; (5) Self-regulation; (6) Distress tolerance
• The next time you are tempted to chastise yourself or use negative self-talk, try this instead:
  • Take out your phone and voice record a description of what you would say to a friend if they just committed the same act you were just about to punish in yourself
  • For example, instead of yelling at yourself for burning dinner, pull out your phone and record yourself talking to a friend who is upset they just burned dinner – you will find yourself much kinder to them than yourself
  • With practice, you will still remember the incident happened, but you will be able to move on easier without it ruining the day
• TRT is safe in men who actually need it; the risk is in the supraphysiologic levels being administered to people who don’t need it and without proper guidance or supervision
• Focus on healthspan and you’ll get the byproduct of improved lifespan
• Stop giving into the noise! People spend way too much energy getting worked up about silly things instead of focusing on the big picture
  • The cereal is processed and made of junkier ingredients in the US than other places – but should you be eating the cereal in the first place?

Read the full notes @ podcastnotes.org

Dr Peter Attia is a physician, longevity expert, podcaster and an author.
There is essentially an unlimited amount of health advice available on the internet. Working out what is legit science and what is broscience is difficult, but thankfully decades of experience means Peter can help cut through the noise about what is actually most effective to improve your fitness and longevity.
Expect to learn why a simple hospital visit can cost $6000 in America, how to improve your cognition, the best supplements everyone should be taking, whether there is any safe dose of melatonin to take, why so many young men are now on TRT, how worried we should be about processed foods, suncream, alcohol and all of your other favourite vices, how we can better deal with mental decline as we age, how to improve your self-talk and much more...
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Episodes You Might Enjoy:
#577 - David Goggins - This Is How To Master Your Life: http://tinyurl.com/43hv6y59
#712 - Dr Jordan Peterson - How To Destroy Your Negative Beliefs: http://tinyurl.com/2rtz7avf
#700 - Dr Andrew Huberman - The Secret Tools To Hack Your Brain: http://tinyurl.com/3ccn5vkp
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Invest Like the Best

Key Takeaways

• Success in business is all about culture, and bringing the very best people along with you as you embrace that culture
• In negotiation, the other person should feel like they got more than what they thought they were going to get
• The most important person in a company is the one who interacts with the customer
• You want to work with people who have fight in them; work with people who can bounce back from defeat
• Keep your word, work as hard as you can, and give it all you got

Read the full notes @ podcastnotes.org

My guest today is Ken Langone. Ken is a legendary American businessman best known for his co-founding of Home Depot. He is also a former director of the New York Stock Exchange and a passionate philanthropist. He shares with us a lifetime's worth of wisdom, building Home Depot into a powerhouse and prioritizing his employees above all else. He says he still “bleeds orange” to this day. You’ll hear as he recounts his business endeavors, his strict belief in keeping your word, and his true pride in his country, which he knows to be the land of opportunity. We discuss his work with Ross Perot, the idea of an upside-down hierarchy, and the power of loyalty. For anyone who may find it easier to follow along, we have a transcript of the episode on joincolossus.com. Please enjoy this conversation with Ken Langone.

Listen to Founders Podcast
For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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This episode is brought to you by Tegus, the go-to destination for bold investing. The investment research platform trusted by 95% of the top 20 global private equity firms just got even better. Building on their solid reputation for expert insights, Tegus has expanded to become the first true all-in-one research platform. The new Tegus makes diligence faster, easier, and more convenient than ever before. Your Tegus license gives you access to over 70,000 expert transcripts, more than 4,000 fully drivable financial models, and exclusive datasets like company management checks, industry KPIs, hard-to-find non-GAAP data, and more. Tegus is the fastest way to learn about a public or private company and the most cost-effective way to conduct investment research — now all under one roof. Learn more and get your free trial at tegus.com/patrick.
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Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.
Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @patrick_oshag | @JoinColossus
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

Show Notes:
(00:00:00) Welcome to Invest Like the Best
(00:004:00) The Unforgettable Pitch to Ross Perot
(00:08:37) Winning Over Perot with Honesty and Insight
(00:16:08) The Art of Negotiation and Trust
(00:19:31) Loyalty, Integrity, and the Power of Keeping Your Word
(00:23:51) Home Depot's Culture of Service and Empowerment
(00:29:16) Frank's Authentic Leadership and Its Impact
(00:31:00) Transforming NYU Medical Center
(00:33:45) Ken’s Investment Philosophy: Long Hold Only
(00:39:56) The Power of Resilience in Business
(00:45:37) The Kindest Thing Anyone Has Ever Done For Ken

Stuff You Should Know✓Claim

Key Takeaways

• In the 1930s, the US Treasury took partial possession of Fort Knox so that it could store its gold there
• Before Fort Knox, most of the United States’ gold was stored in New York City and Philadelphia, two cities that were close to the coast and potentially more vulnerable to an invasion from an adversary
• Supposedly, there are 4600 metric tons of gold in the vault at Fort Knox; this equates to 2.5% of all the gold ever mined in human history
• Some people believe that there is actually no gold in the vault
• There have only been three official tours of Fort Knox since its founding
• Fort Knox is hooked up to its own water and power supply; it can go “off-grid”
• There is speculation that the field surrounding Fort Knox is a minefield

Read the full notes @ podcastnotes.org

When Fort Knox was built in the 1930s to house America’s gold supply, it was billed as an impenetrable, impregnable, don’t-even-think-of-trying vault. But as the world has moved further away from gold, the stockpile’s lost a bit of its luster. Learn all about it in this classic episode.

See omnystudio.com/listener for privacy information.

Stuff You Should Know✓Claim

Key Takeaways

• Hormones do not act alone; they interact with many organs and neurotransmitters in the body
• Testosterone & estrogen are more than just sex hormones –
  • Estrogen in females is important for bone growth, energy, muscle development, endurance, physical movement/urge to take action
  • Testosterone in males plays a role in mood, bone growth and development, muscle mass, and strength

Read the full notes @ podcastnotes.org

We think of estrogen and testosterone as the female and male sex hormones and they may seem kind of gross (is that just Josh?), but that simple understanding is way off. A magical biochemical dance between the two creates everything from bones to moods.

See omnystudio.com/listener for privacy information.

Impact Theory with Tom Bilyeu

Key Takeaways

• Curious about Andrew Huberman’s recipe for good sleep? Read morehere

Read the full notes @ podcastnotes.org

Tom Bilyeu answers questions from the Impact Theory community and covers topics like the "Power of Myth" by Joseph Campbell, the evolution of mythology, and Millennials and the culture of the workplace.
[Original air date: January 28, 2017].

Tom Bilyeu is the co-founder of 2014 Inc. 500 company Quest Nutrition — a unicorn startup valued at over $1 billion — and the co-founder and host of Impact Theory. Impact Theory is a first-of-its-kind company designed to facilitate global change through the incubation of mission-based businesses and the cultivation of empowering content. Every piece of content Impact Theory creates is meant to underscore the company mission to free people from The Matrix and help them unlock their true potential. Impact Theory exists to inspire the next generation of game-changing companies and creators that will make a true and lasting impact on the world.

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Invest Like the Best

Key Takeaways

• Dunbar’s number suggests that humans can maintain about 150 relationships at a given time
• Humans have spent most of our lives in smaller, hunter-gatherer groups; existing together in large cities is a relatively new thing for the species
• The best predictor of your mental and physical health – in addition to how long you are going to live into the future – is the number and quality of your closest relationships
• There is a correlation between the number of friends people claim to have and the size of certain regions in their brains
• “If you really want to live forever, just make sure you have five friends.” – Robin Dunbar
• The emotional closeness of a relationship is highly correlated to the amount of time invested in it
• Laughter, singing, and storytelling are how we foster emotional closeness with others without physical touch
• Homophily is the tendency for people to seek out or be attracted to those who are similar to themselves; this is the driving force behind friendships
• Face-to-face relationships are paramount: there is a significant difference between bonding with something in your head and with someone in the real world

Read the full notes @ podcastnotes.org

My guest today is Robin Dunbar. Robin is a biological anthropologist, evolutionary psychologist, and specialist in primate behavior. He is the man behind Dunbar’s number, a theory about the number of stable relationships we can maintain at once. Robin unravels the thread of research that led him to Dunbar’s number and describes how this plays into every single person’s layers of human connection. It was fascinating to hear how his findings on social circles have implications for optimally structuring businesses and organizations, as well as the idea of homophily, all of which Robin thoughtfully explains. It was a treat to get to explore these topics with Robin Dunbar himself so please enjoy this great conversation.

Listen to Founders Podcast
For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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This episode is brought to you by Tegus, the only investment research platform built for fundamental investors. Whether you’re trying to get up to speed on a new market or keep tabs on a portfolio company, Tegus is the end-to-end investment research platform you need. With Tegus, you can quickly understand a company's business model, drivers, benchmarks, and management quality. To monitor an entire market, download our pre-built financial models — or update your own with the latest data using Tegus’ new Excel Add-In. Tegus gives you all of this and more, all bundled into a single software license. Find out why 95% of the top 20 global private equity firms are Tegus customers. Learn more and get your free trial at tegus.com/patrick.
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Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.
Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @patrick_oshag | @JoinColossus
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).
Show Notes:
(00:00:00) Welcome to Invest Like the Best
(00:04:39) The Journey to Discovering Dunbar's Number
(00:07:28) Exploring the Layers of Human Connection
(00:12:27) The Significance of the 1.5 Layer in Social Circles
(00:16:55) Surprising Insights from Social Network Studies
(00:20:40) Applying Dunbar's Number to Organizational Structures
(00:27:51) The Science of Social Bonding in Primates and Humans
(00:33:23) Unlocking the Endorphin System Without Physical Touch
(00:34:10) The Power of Laughter, Singing, and Storytelling in Group Bonding
(00:36:00) The Limitations of Digital Interactions for Building Relationships
(00:39:51) Reviving Social Clubs and Activities for Workplace Bonding
(00:44:40) The Importance of Homophily in Friendships and Social Networks
(00:50:40) Challenges and Solutions for Overcoming Loneliness and Building Trust
(00:53:45) The Impact of Technology, Religion, and Mental Health on Social Connections
(00:61:47) Reflecting on Time as a Fundamental Aspect of Social Dynamics