You're listening to A Book with Legs, a podcast presented by Smead Capital Management.

At Smead Capital Management, we advise investors who fear stock market failure.

You can learn more at Smeadcap.com or by calling your financial advisor.

Welcome to a book with legs podcast. I'm Cole Smead. I'm the president and portfolio manager here at Smead Capital Management. At our firm, we are readers and book junkies.

It can be said that leaders are readers, and we believe books provide us a great source of information

for filtering what is and isn't important provide us a great source of information for filtering what is

and isn't important for us as investors.

Investing is the last great liberal art and the best way to spend a lifetime of learning.

This podcast is for readers, thinkers, business-minded people, and investors who want to grow their

knowledge from great authors and their writing.

Charlie Munger often talks about using multiple mental models and analysis.

Our aim is for this podcast to help listeners test Munger's theory in business,

markets, and people.

Hosting this episode along with me is our chairman and chief investment officer.

I like to call him Dad, Bill Smead.

Dad, should we have some fun today? Definitely. We're glad everyone has joined us for this episode.

I believe we're going to have a great discussion and think about some new concepts. Mark Mills is

joining us to talk about his book, The Bottomless Well, that he published with his co-author

Peter Huber in 2006. Mark has published three other books, including his most recent title,

The Cloud Revolution, How the Convergence of New Technologies Will Unleash the Next Economic Boom

and a Roaring 2020s. Mr. Mills is a Manhattan Institute Senior Fellow, a faculty fellow at Northwestern

University, and a partner in Montrose Lane, an energy tech venture fund. He began his career

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