#367 Inside the Contrarian Mind of Sam Zell

Founders

David Senra

History, Entrepreneurship, Business, Technology

4.8 • 2.4K Ratings

🗓️ 8 October 2024

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

What I learned from reading Money Talks, Bullsh*t Walks: Inside the Contrarian Mind of Billionaire Mogul Sam Zell by Ben Johnson. ---- Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ---- Founders Notes gives you the superpower to learn from history's greatest entrepreneurs on demand. You can search all my notes and highlights from every book I've ever read for the podcast. Get access to Founders Notes here. ---- Join my free email newsletter to get my top 10 highlights from every book ---- Follow Founders Podcast on YouTube (Video coming soon!) ---- “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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast ---- Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ---- “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. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

Transcript

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0:00.0	One of the craziest things that has happened as a result of the podcast is a few years ago I read Sam's L's autobiography
0:05.8	and then I made an episode on what I learned from reading Sam's L's autobiography and
0:09.3	Sam's L listened to the episode that is about his autobiography and asked to meet me as a result and in that
0:16.2	autobiography he talks about the impact that his partner Bob had on him and here's one of the stories from his autobiography. He says Bob was extremely
0:24.9	frugal and watched every single nickel in our business. Bob was constantly on the lookout
0:29.9	for anything that could be reused. He used to walk into somebody's office
0:33.4	and while talking would casually rummage
0:35.9	through the person's trash can.
0:37.9	He would take out stacks of papers that still
0:40.1	had paper clips on them, all while continuing his conversation as though nothing out of the ordinary was occurring.
0:46.2	Bob would then just pull those paper clips off, hand them back to the employee,
0:50.4	conclude the conversation, and walk out.
0:53.0	This is a trait that Bob and Sam shared.
0:55.0	In this book there's a quote that says in a trademark
0:58.0	Zell move he focused on aggressive internal cost controls.
1:03.4	I spend a ton of time reviewing all the lessons that you and I are learning from this
1:06.3	podcast so I read old highlights, notes, I search through transcripts, I even built an
1:10.9	AI assistant called Sage that helps me do this.
1:14.3	And so this week I was asking Sage, why do you think history's greatest
1:16.8	computers are obsessed with this?
1:18.2	Why are they all obsessed with controlling their costs, with watching their expenses?
1:22.1	I mean, look at this, look at the story
	...

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