Unicorn Founder on Unseen Arbitrages, the Paradox of Wealth + Charlie Munger Wisdom ft. Ryan Petersen

My First Million

Hubspot

Entrepreneurship, Investing, Business

4.8 • 2.7K Ratings

🗓️ 11 November 2024

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

Episode 648: Shaan Puri ( https://x.com/ShaanVP ) talks to Flexport founder Ryan Petersen ( https://x.com/typesfast ) about playing both games: bootstrapping a startup to millions and raising venture capital to build a multi-billion dollar company. — Show Notes: (0:00) Import Genius (5:36) Paul Graham's superpower (9:34) Data-as-a-service framework (13:51) Charlie Munger's worldly wisdom (19:45) Prioritizing adventure (24:09) The paradox of wealth (28:51) Charlie Munger's student experiment (31:00) Negotiation masterclass (37:23) Inside Founders Fund (43:16) Being in a crowd v following a crowd (46:29) Highs and lows (48:52) "You can just do things" (50:16) Unseen arbitrages (53:00) $50M Phone booths — Links: • Flexport - https://www.flexport.com/ • ImportGenius - https://www.importgenius.com/ • Schlep Blindness - https://paulgraham.com/schlep.html • Poor Charlie’s Almanack - https://www.stripe.press/poor-charlies-almanack • Founders Fund - https://foundersfund.com/ — Check Out Shaan's Stuff: Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam’s List - http://samslist.co/ My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

Transcript

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0:00.0	All right, today we're talking to Ryan Peterson.
0:01.6	Ryan's an interesting guy because he started out working in a pizza shop, bootstrapping his own company to millions of dollars.
0:06.9	And now he runs Flexport, which is a multi-billion dollar company.
0:09.4	So he's kind of done both sides, the big Silicon Valley game, as well as the bootstrap, make something out of nothing, form of entrepreneurship.
0:16.0	And we talk about three things. The one big lesson he learned when he became friends with Charlie Munger,
0:21.1	what Charlie Munger really taught him. Number two is a masterclass in negotiation. So things that
0:26.1	he learned about negotiation back when he was in business school that still help him today.
0:30.1	And the paradox of wealth. So why chasing money, well, money is great and you want to make money.
0:35.4	And he says money is great too. But how instead of chasing money directly, you should do something else instead.
0:40.2	He calls this The Paradox of Well.
0:41.8	So enjoy this episode with Ryan Pearson.
0:44.2	I feel like I can rule the world.
0:46.2	I know I could be what I want to.
0:49.1	I put my all in it like no days off on the road.
0:52.2	Let's travel.
0:52.8	Today you have the Silicon Valley success story.
0:55.0	So you've got Flexport, this like behemoth of a company, multi-billion dollar company,
1:00.8	went through YC.
1:01.5	You did the Silicon Valley, you won the Silicon Valley game, which is great.
1:05.0	And I live in Silicon Valley.
1:05.9	I like, you know, I spent 10 years trying to win that game.
1:09.7	The other side of it, though, that's, I think a lot more relatable is you were, you know, working at Domino's Pizza as a team.
	...

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