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everybody Hey everybody this is still town and this is Danielle town welcome to the invested podcast where we are trying to figure out how to invest like

Warren Buffett and Charlie Munger and get rich.

I mean basically that's the ballpark we're playing in.

And Danielle is learning learning from me from the last what five years now? like that something yeah gosh I am just deep into

Warren Buffett territory and have been trying to follow Warren for I don't know 35

years or so and it's an investing process

that is just simple and like anything else simple isn't necessarily easy so So we're unfolded here and and today we have a special guest,

I do you believe? We are so fortunate to have a guest today. We love having people on our show

who can add to our view of investing and our investing practice and really see it from a different perspective.

So I'll start by saying that in 2009 a St. Louis glass-blowing artist and recovering computer scientist named Jim McElvy lost a sale because he couldn't accept American Express cards. I remember those days.

Frustrated by the high costs and the difficulty of accepting those credit cards,

McElvey joined his friend Jack Dorsey, the co-founder of Twitter, to launch Square,

a startup that would enable small merchants to accept credit card payments on their mobile phones.

In his new book, The Innovation Stack, he recounts the startups against the odd survival of a

direct attack from the most dangerous company on the planet and one of our favorites,

Amazon, and reveals the business strategy that made Square impenetrable, which is what he calls

the innovation stack.

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