The Knowledge Project

Ogilvy Vice Chairman Rory Sutherland reveals the formula for persuasion, why people make decisions and how you can use psychology to your advantage. Rory is the world’s leading advertising strategist. He spent almost four decades as Ogilvy studying why people behave the way they do and how to change that behavior. He explains why contrast drives choices and efficiency often destroys value, and how trust, friction, and design shape real-world behavior. +Rory was previously on the show, check out episode 19. ----- Approximate Chapters: (00:00) Introduction (01:31) AI and Decision Making (03:48) Are We Looking for Efficiency in the Wrong Place? (15:52) Ad Break (18:09) Ice Cold Beer Thought Experiment (19:56) Trust and Manipulation (27:15) Dyson Customer Experience and 'Brand Quake' (29:21) Customer Value Thinking (34:28) Why Is Dyson So Effective at Marketing? (36:28) Ad Break (38:51) Map/Territory Problem in Business (39:27) The Problem with Shareholders (42:29) The Problem with 'Tech Bro' Decision Making (45:14) Warren Buffett’s Approach to Choosing Management (47:52) John Bragg’s Approach to Buying Infrastructure (51:23) High Trust vs Low Trust Societies (58:45) What Can We Learn from the Mad Men Era of Marketing (1:03:59) The Danger of Bad Marketing (1:17:47) Navigating Cancel Culture with Common Sense (1:29:59) Signalling to Ourselves When We Purchase Something (1:39:06) Changing of Societal Norms (1:43:27) How to Write Good Copy (1:56:30) What Is Success for You? ----- Upgrade: Get a hand edited transcripts and ad free experiences along with my thoughts and reflections at the end of every conversation. Learn more @ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠------Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠------ Follow Shane Parrish:X: ⁠⁠⁠⁠⁠https://x.com/shaneparrish Insta: https://www.instagram.com/farnamstreet/ LinkedIn: https://www.linkedin.com/in/shane-parrish-050a2183/ ------ Thank you to the sponsors for this episode: Basecamp: Stop struggling, start making progress. Get somewhere with Basecamp. Sign up free at http://basecamp.com/knowledgeproject reMarkable: Get your paper tablet at https://www.reMarkable.com today .tech domains: Nothing says tech like being on .tech https://get.tech/ Shopify: https://shopify.com/knowledgeproject Learn more about your ad choices. Visit megaphone.fm/adchoices

How do you get ordinary people to achieve extraordinary results? Mary Kay Ash built a two-billion-dollar company by solving that specific problem. After watching men she trained get promoted above her for double the salary, she quit to build a company based on a radical idea: meritocracy. This episode breaks down how she did it. You’ll learn her twenty-three leadership lessons, why pink Cadillacs outperformed raises, and the fundamentals of incentives, recognition, and human motivation that work in any business. ----- Approximate Chapters: (00:00) Introduction (02:25)Part 1: You Can Do It, Mary Kay (21:35)Part 2: Mary Kay Cosmetics (36:45)Part 3: The System (53:44)Epilogue: The Legacy (55:16)Mary Kay’s 23 Lessons ----- Upgrade: Get hand-edited transcripts and an ad-free experience, and so much more. Learn more @ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. See what you're missing: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Follow Shane Parrish X ⁠⁠⁠⁠⁠@ShaneAParrish⁠⁠⁠⁠⁠ Insta ⁠@farnamstreet⁠ LinkedIn ⁠Shane Parrish ------ This episode is for informational purposes only. Learn more about your ad choices. Visit megaphone.fm/adchoices

Top Performance Coach Jim Murphy reveals how to eliminate fear, master pressure, and unlock elite performance. Jim spent 5 years writing Inner Excellence, the mental toughness manual that shot from obscurity to #1 New York Times bestseller overnight when star athlete A.J. Brown was caught reading it on the sidelines of a NFL playoff game. A personal coach to professional baseball players and Olympic athletes, he teaches how extraordinary performance and a meaningful life follow the exact same path. ----- Approximate Chapters: (00:00) Introduction (01:01) The Three Elements of Inner Excellence (04:36) Before Fame (05:42) Discovery: When A.J. Brown Read ‘Inner Excellence’ on TV (12:01) Powering Your Life With Clean Fuel vs. Dirty Fuel (16:26) Ad Break (22:34) Why You Avoid Life by Keeping 'Busy' (25:39) Purpose in Life and How He Found Religion (31:09) The Interaction of Ego, Self-Centeredness, and Self-Confidence (33:59) How to Navigate Failure and Learn From It (41:43) Dealing With Comparison in the Modern World (47:34) Discovering Your Inner Excellence (51:25) Does Success Equal Happiness? (55:00) Feeling Guilt or FOMO About Life Choices (01:01:21) Changing Your Focus to Get Through Challenging Goals (01:05:40) Choices Are Hard to Act On, Rules Are Not (01:10:40) Daily Mantras for Success (01:12:15) Is the Best Possible Life Driven by Ambition or Love? (01:14:52) Why Do We Train Our Bodies but Don’t Train Our Minds? (01:15:38) What Is Success for You? ----- Upgrade: Get a hand edited transcripts and ad free experiences along with my thoughts and reflections at the end of every conversation. Learn more @ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠------Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠------ Follow Shane Parrish:X: ⁠⁠⁠⁠⁠https://x.com/shaneparrish Insta: https://www.instagram.com/farnamstreet/ LinkedIn: https://www.linkedin.com/in/shane-parrish-050a2183/ ------ Thank you to the sponsors for this episode: Basecamp: Stop struggling, start making progress. Get somewhere with Basecamp. Sign up free at http://basecamp.com/knowledgeproject reMarkable: Get your paper tablet at https://www.reMarkable.com today Learn more about your ad choices. Visit megaphone.fm/adchoices

Charlie Munger spent his life studying one question: why do smart people make bad decisions? In his legendary talk The Psychology of Human Misjudgement, Munger outlined 25 psychological tendencies that quietly distort how we think. From incentives and social proof to denial, envy, and authority bias, you’ll learn how these hidden tendencies shape behavior and how to build the mental defenses that helped Munger create one of the best decision records in history. You’ll hear practical examples, powerful antidotes, and lessons you can apply to business, investing, and everyday life. ----- Chapters: (00:00) Introduction: (01:38) Pattern #1: Reward and Punishment Superresponse Tendency (05:00) Pattern #2: Liking/Loving Tendency (08:38) Pattern #3: Disliking/Hating Tendency (11:48) Pattern #4: Doubt-Avoidance Tendency (14:19) Pattern #5: Inconsistency-Avoidance Tendency (20:08) Pattern #6: Curiosity Tendency (21:30) Pattern #7: Kantian Fairness Tendency (23:32) Pattern #8: Envy/Jealousy Tendency (27:32) Pattern #9: Reciprocation Tendency (31:52) Pattern #10: Influence-from-Mere-Association Tendency (35:43) Pattern #11: Simple, Pain-Avoiding Psychological Denial (37:53) Pattern #12: Excessive Self-Regard Tendency (41:06) Pattern #13: Overoptimism Tendency (42:11) Pattern #14: Deprival-Superreaction Tendency (45:28) Pattern #15: Social-Proof Tendency (48:56) Pattern #16: Contrast-Misreaction Tendency (51:33) Pattern #17: Stress-Influence Tendency (54:20) Pattern #18: Availability-Misweighing Tendency (54:54) Pattern #19: Use-It-or-Lose-It Tendency (56:26) Pattern #20: Drug-Misinfluence Tendency (57:23) Pattern #21: Senescence-Misinfluence Tendency (58:42) Pattern #22: Authority-Misinfluence Tendency (01:01:58) Pattern #23: Twaddle Tendency (01:04:18) Pattern #24: Reason-Respecting Tendency (01:06:42) Pattern #25: Lollapalooza Tendency (01:10:28) Epilogue ----- Upgrade: Get hand-edited transcripts and an ad-free experience, and so much more. Learn more @ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. See what you're missing: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Follow Shane Parrish X ⁠⁠⁠⁠⁠@ShaneAParrish⁠⁠⁠⁠⁠ Insta ⁠@farnamstreet⁠ LinkedIn ⁠Shane Parrish ------ This episode is for informational purposes only. Learn more about your ad choices. Visit megaphone.fm/adchoices

My guest today is Ron Shaich, founder of Panera and chairman of CAVA. The headlines will tell you that Ron built Panera into a $7.8 billion company. But the real story is far more interesting. He went all in on Panera. He sold off every other concept they owned, like Au Bon Pain, to focus on on Panera. His philosophy is simple: Be long-term greedy, not short-term stupid. We discuss why profit is always a byproduct (focus on it and you'll lose everything), how to understand the customer, and the real costs of building something great. Today he's repeating the same playbook he used at Panera with CAVA. At 71, he tracks his glucose continuously and works out every morning at 8am. He runs quarterly reviews on his life with the same discipline he brought to building companies. This isn't about restaurants. It's about making painful bets when everyone else is optimizing for next quarter, and understanding that real commitment owns you—you never own it. ----- Thank you to the sponsors for this episode: reMarkable: Get your paper tablet at https://www.reMarkable.com today .tech domains: Nothing says tech like being on .tech https://get.tech/ Shopify: https://shopify.com/knowledgeproject ----- Upgrade: Get a hand edited transcripts and ad free experiences along with my thoughts and reflections at the end of every conversation. Learn more @ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠------Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠------Follow Shane ParrishX ⁠⁠⁠⁠⁠@ShaneAParrish⁠⁠⁠⁠⁠ Insta ⁠@farnamstreet⁠ LinkedIn ⁠Shane Parrish Learn more about your ad choices. Visit megaphone.fm/adchoices

Steve Wozniak is the engineer who built Apple. Then he did something Silicon Valley still doesn't understand: he gave millions of his own money away to early employees, walked away from power, and refused to play the game everyone else was playing. While HP rejected his design and competitors built walled gardens, Wozniak's philosophy of open architecture, the very one a young Steve Jobs fought against, is what saved Apple long enough for it to become Apple. This is the story of the reluctant founder who won by refusing to compromise, and a blueprint for success without selling your soul. ----- Chapters: (00:00) Introduction (01:31) Part 1: Pranks and Paper Computers (18:11) Part 2: The First Personal Computer (30:46) Part 3: Apple Computer Corporation (41:02) Part 4: Apple's Decline (46:02) Epilogue (48:02) Rules To Live By ----- Upgrade: Get hand-edited transcripts and an ad-free experience, and so much more. Learn more @ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. See what you're missing: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Follow Shane Parrish X ⁠⁠⁠⁠⁠@ShaneAParrish⁠⁠⁠⁠⁠ Insta ⁠@farnamstreet⁠ LinkedIn ⁠Shane Parrish ------ This episode is for informational purposes only. Learn more about your ad choices. Visit megaphone.fm/adchoices

Anthony Scilipoti is one of the sharpest minds in investing. He's the President and CEO of Veritas Group of Companies. He called the collapses of both Valeant Pharmaceuticals and Nortel before they happened, and now he has some thoughts on AI. We talk about asking better questions, reading the fine print, the role of short selling, and what it means to be wrong. We explore why AI gives you information but not insight, why cheap risk is often the most expensive, and why nothing matters until it does. It's a conversation about the difference between seeing and understanding and the discipline to notice what everyone else ignores. This episode is not investment advice. It’s time to listen and learn. ----- About Anthony Anthony Scilipoti is one of the sharpest minds in investing. He's the President and CEO of Veritas Group of Companies. ----- Approximate Chapters: (00:00) Introduction (01:26) Early Career (02:53) The Enron Scandal (05:48) Lessons on Auditing (16:12) The AI 'Bubble' and the State of the Market (18:46) Ad Break (20:50) The AI 'Bubble' and the State of the Market (Cont.) (28:12) Parallels Between the Fall of Nortel Networks and the Current AI Economy (35:15) Ad Break (36:10) Parallels Between the Fall of Nortel Networks and the Current AI Economy (Cont.) (39:14) Investing Rules for Better Investments (42:14) Red Flags to Look Out for When Investing? (45:56) The Rise and Fall of Valeant Pharmaceuticals (53:04) Is a Complicated Corporate Structure Bad? (55:54) Companies Don't Start Out Being Crooked (57:53) Why is EBITDA a Disastrous Measurement? (1:00:47) How Should Investors See Stock Options / How to Account for Stock Options (1:06:30) What Incentives to Look for in a Company When Investing? (1:11:31) The Rise of Index Investing (1:15:41) Buybacks and Share Count (1:21:21) What Makes Warren Buffett a Unique Investor? (1:26:58) The Power of the Retail Investor (1:32:30) What Is Success for You? ----- Thank you to the sponsors for this episode: Basecamp: Stop struggling, start making progress. Get somewhere with Basecamp. Sign up free at http://basecamp.com/knowledgeproject reMarkable: Get your paper tablet at https://www.reMarkable.com today .tech domains: Nothing says tech like being on .tech https://get.tech/ ----- Upgrade: Get a hand edited transcripts and ad free experiences along with my thoughts and reflections at the end of every conversation. Learn more @ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠------Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠------Follow Shane ParrishX ⁠⁠⁠⁠⁠@ShaneAParrish⁠⁠⁠⁠⁠ Insta ⁠@farnamstreet⁠ LinkedIn ⁠Shane Parrish Learn more about your ad choices. Visit megaphone.fm/adchoices

This week on Outliers, I explore the incredible story of Jim Clayton. When the bank forced him into bankruptcy at 27, they literally seized everything, including his accountant’s calculator. He started over and rebuilt following an unconventional playbook. He refused bad loans, vertically integrated everything, and played relentless offense during downturns. While the home industry collapsed in the 1970s, 1990s, and 2000s, Clayton stayed disciplined. Competitors chased growth with loose credit and failed. He survived every downturn and bought their pieces. When Warren Buffett read his autobiography, he called days later and paid $1.7 billion cash. The lesson: discipline beats hype, vertical integration beats vulnerability, and recessions are buying opportunities. It’s time to listen and learn. ----- Approximate Timestamps 00:00 - Introduction 01:36 - Part 1 - The Dream 12:01 - Ad Break 13:13 - Part 2: Flying, Falling and Rising Again 35:47 - Part 3: Clayton Homes 56:02 - Epilogue 57:20 - Reflections / Lessons ----- This episode made possible by: Basecamp: http://basecamp.com/knowledgeproject ----- Upgrade: Get a hand edited transcripts and ad free experiences along with my thoughts and reflections at the end of every conversation. Learn more @ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Follow Shane Parrish X ⁠⁠⁠⁠⁠@ShaneAParrish⁠⁠⁠⁠⁠ Insta ⁠@farnamstreet⁠ LinkedIn ⁠Shane Parrish ------ This episode is for informational purposes only. Learn more about your ad choices. Visit megaphone.fm/adchoices

This week I sat down with Warren Buffett's former financial assistant Tracy Britt Cool. In this exclusive interview, you'll learn how she went from writing a cold letter to Buffett to being sent in to fix struggling Berkshire subsidiaries, how to evaluate real business performance, and how incentives, culture, and structure line up to create lasting success. ----- Approximate Chapters (00:00) Intro, recent reading, and family life (06:39) Value Creation in operating; why companies struggle to adapt (09:23) Upbringing, education, and early career outreach (13:46) Lessons from Berkshire, leaving, and the Pampered Chef turnaround (18:25) Ad Break (20:35) Kanbrick long-term investment partnership and the Pampered Chef turnaround (27:40) People, culture, and building repeatable systems (KBS) (41:57) Sourcing deals, the five M's, and moats (52:52) Post-close playbook, Kanbrick Business System evolution, community, and leverage (1:11:53) AI, productivity, and the WHO hiring process (1:20:49) Businesses to avoid investing in, board lessons, and governance (1:26:44) Financial literacy, integrity in hiring, and broader reflections (1:42:49) Closing thanks and outro ----- About Tracy Tracy Britt Cool is the co-founder of Kanbrick and former CEO of Pampered Chef. At Berkshire Hathaway she worked directly with Warren Buffett as his financial assistant. ----- *This Episode Made Possible By:* Basecamp: http://basecamp.com/knowledgeproject reMarkable: https://www.reMarkable.com ----- Upgrade: Get a hand edited transcripts and ad free experiences along with my thoughts and reflections at the end of every conversation. Learn more @ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Follow Shane Parrish X ⁠⁠⁠⁠⁠@ShaneAParrish⁠⁠⁠⁠⁠ Insta ⁠@farnamstreet⁠ LinkedIn ⁠Shane Parrish Learn more about your ad choices. Visit megaphone.fm/adchoices

Hetty Green was the richest woman you've never heard of. In the late 1800s, she built a fortune worth billions today in a world designed to stop her. Women couldn't vote, couldn't own property, and weren't even allowed on the stock exchange floor. She was a force that couldn't be stopped. She bought entire towns, crushed railroad barons, and became the lender of last resort during financial panics. Her strategies still work today. This is the story of how an unwanted daughter became "The Witch of Wall Street," and a playbook for building lasting wealth and independence. ----- Upgrade: Get a hand edited transcripts and ad free experiences along with my thoughts and reflections at the end of every conversation. Learn more @ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Follow Shane Parrish X ⁠⁠⁠⁠⁠@ShaneAParrish⁠⁠⁠⁠⁠ Insta ⁠@farnamstreet⁠ LinkedIn ⁠Shane Parrish ------ This episode is for informational purposes only. Learn more about your ad choices. Visit megaphone.fm/adchoices

My guest this week is Barry Diller, one of America's most successful businessmen. At 83, he chose to publish a deeply personal book and open up about his successes and failures. With surprising candor he details the rules he's lived by: trust first, confront directly, and make the call when the clock starts. In our conversation, he shares why success teaches you nothing, why failure is essential, and why instinct still beats algorithms in a data-obsessed world. This episode is filled with Hollywood lore and business acumen. ----- About Barry: He is the Chairman and Senior Executive of IAC, and is best known for founding the Fox Broadcasting Company with Rupert Murdoch and leading Paramount Pictures. Over his career, he has reshaped television, film, and online media. ----- Approximate Timestamps: (00:00) Intro (01:48) Vulnerability and Writing 'Who Knew' (05:20) Lack Of Confidence & Fake It Until You Make It (17:58) Changes In The Entertainment Industry (22:35) Instinct Vs Data (27:17) AI's Impact on the Entertainment and Travel Industry (42:35) One Dumb Step At A Time (52:39) Accountability During Conflict (55:06) Public Broadcasting Regulation And Fair Reporting (58:04) What Is Success For You ----- Basecamp: Stop struggling, start making progress. Get somewhere with Basecamp. Sign up free at http://basecamp.com/knowledgeproject reMarkable: Get your paper tablet at https://www.reMarkable.com today .tech domains: Nothing says tech like being on .tech https://get.tech/ MINT MOBILE: If you’re still overpaying for wireless, it’s time to say yes to saying no. At Mint Mobile, their favorite word is no: no contracts, no monthly bills, no overages, no hidden fees, no B.S. Go to mintmobile.com/knowledgeproject ----- Upgrade: Get a hand edited transcripts and ad free experiences along with my thoughts and reflections at the end of every conversation. Learn more @ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Follow Shane Parrish X ⁠⁠⁠⁠⁠@ShaneAParrish⁠⁠⁠⁠⁠ Insta ⁠@farnamstreet⁠ LinkedIn ⁠Shane Parrish ------ This episode is for informational purposes only. Learn more about your ad choices. Visit megaphone.fm/adchoices

Ed Stack built Dick’s Sporting Goods from a struggling family store into an empire of more than 800 stores and billions in sales. Along the way he nearly lost everything. Multiple times. This episode is the story of what he did, how he did it, and the lessons you can learn. ----- Chapters: (00:00) Introduction (02:48) Part 1: A Cookie Jar and a Cage (20:56) Part 2: Battle for Control (37:09) Part 3: The Race to Survive (46:39) Part 4: The Devil's Bargain (1:03:27) Part 5: Epilogue (1:06:10) Reflections + Lessons ----- Upgrade: Get a hand edited transcripts and ad free experiences along with my thoughts and reflections at the end of every conversation. Learn more @ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ----- Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ----- Follow Shane Parrish X @ShaneAParrish Insta ⁠@farnamstreet⁠ LinkedIn ⁠Shane Parrish ----- This episode is for informational purposes only. Learn more about your ad choices. Visit megaphone.fm/adchoices

Lulu Cheng Meservey is one of the sharpest minds in communications and strategy. She has helped some of the best leaders through their hardest moments. We talk about why trust and conviction are contagious, how to win attention in a noisy world, and how to handle attacks without losing ground. ----- About Lulu: Having been CCO and EVP of Corporate Affairs at Activision Blizzard and VP of Comms at Substack, she is now the creator of Rostra, the only advisory firm focused on founder-led comms. ----- Approximate Timestamps: (00:00) Introduction (08:34) The Importance Of The Hook (14:35) Why Do Governments And Large Corporations Communicate So Poorly? (21:50) How To Build A Cult (27:56) How Trust And Likeability Affect Your Messages (39:19) How To Respond To A Public Relations Attack (42:57) One Death Is A Tragedy, A Thousand Are A Statistic (47:34) The Importance Of Being First (55:22) Overcoming Being The Underdog (1:00:03) How To Play Offence In PR (1:05:36) 3 Things To Make A Difference In Your Comms / Storytelling (1:21:07) The Halo Effect (1:25:52) Practical Comms Advice For Everyday Work Interactions (1:46:17) What Is Success For You? ----- Thank you to the sponsors for this episode: Basecamp: Stop struggling, start making progress. Get somewhere with Basecamp. Sign up free at http://basecamp.com/knowledgeproject reMarkable: Get your paper tablet at https://www.reMarkable.com today .tech domains: Nothing says tech like being on .tech https://get.tech/ ----- Upgrade: Get a hand edited transcripts and ad free experiences along with my thoughts and reflections at the end of every conversation. Learn more @ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠------Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠------Follow Shane ParrishX ⁠⁠⁠⁠⁠@ShaneAParrish⁠⁠⁠⁠⁠ Insta ⁠@farnamstreet⁠ LinkedIn ⁠Shane Parrish Learn more about your ad choices. Visit megaphone.fm/adchoices

Fred Smith founded FedEx on an idea everyone told him would fail and built it into an $88 billion empire that changed how the world moves. In this episode, we dive into how he built FedEx and the lessons he learned along the way. This story proves that impossible is just another word for opportunity. ----- Timestamps: (00:00) Introduction (03:36) Part 1: The Boy Who Wouldn't Stay Down (15:52) Part 2: The Impossible Company (29:36) Part 3: The Empire Builder (38:12) Epilogue: From Crisis to Legacy (1993–2025) (40:55) Important Things That Didn’t Make It Into the Episode (43:55) Lessons from Fred Smith ----- Upgrade: Get a hand edited transcripts and ad free experiences along with my thoughts and reflections at the end of every conversation. Learn more @ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Follow Shane Parrish X ⁠⁠⁠⁠@ShaneAParrish⁠⁠⁠⁠ Insta ⁠⁠⁠⁠⁠⁠⁠⁠@farnamstreet⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠ ------ This episode is for informational purposes only. Learn more about your ad choices. Visit megaphone.fm/adchoices

Benedict Evans has been calling tech shifts for decades. Now he says forget the hype: AI isn't the new electricity. It's the biggest change since the iPhone, and that's plenty big enough. We talk about why everyone gets platform shifts wrong, where Google's actually vulnerable, and what real people do with AI when nobody's watching. Evans sees patterns others don't. This conversation will change how you think about what's actually happening versus what everyone says is happening. ----- Approximate Timestamps: (00:00) Introduction (01:04) What's your Most Controversial Take On AI? (05:11) Platform Shifts - The Rise Of Automatic Elevators (10:07) Profit Margins In AI (26:37) What Are The Questions We Aren't Asking About AI (39:41) What Benedict Uses AI For (44:21) Thinking By Writing (47:35) Can AI Make Something Original? (52:31) Advice for Students In The Age Of AI? (59:32) Who Will Win The AI Race? (1:11:09) What Is Success For You? ----- Thanks to our sponsors for this episode: SHOPIFY: Sign up for your one-dollar-per-month trial period at ⁠www.shopify.com/knowledgeproject ⁠ ReMarkable for sponsoring this episode. Get your paper tablet at ⁠⁠reMarkable.com⁠⁠ today NOTION MAIL: Get Notion Mail for free right now at ⁠⁠notion.com/knowledgeproject ----- Upgrade: Get a hand edited transcripts and ad free experiences along with my thoughts and reflections at the end of every conversation. Learn more @ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Follow Shane Parrish X ⁠⁠⁠⁠@ShaneAParrish⁠⁠⁠⁠ Insta ⁠⁠⁠⁠@farnamstreet⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

One man controls half the world's wild blueberries, built North America's largest private telecom, and did it all without ever leaving his hometown of 1,100 people. In this episode, we decode the counterintuitive playbook of patient capital, rural advantage, and why Bragg's refusal to sell a single share made him unstoppable. My interview with John (#204) was the class. This is the homework. ------ Approximate Timestamps: (00:00) Introduction (02:09) Part One: The Renegade’s Choice (23:47) Part Two: Eastlink (41:16) Part Three: John Bragg: Serial Entrepreneur (52:15) Epilogue: The View from Oxford (54:34) Reflections / Afterthoughts (58:00) John Bragg’s Lesson Upgrade: Get a hand edited transcripts and ad free experiences along with my thoughts and reflections at the end of every conversation. Learn more @ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠ ------ Follow Shane Parrish X ⁠⁠⁠@ShaneAParrish⁠⁠⁠ Insta ⁠⁠⁠@farnamstreet⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠ ------ This episode is for informational purposes only. Learn more about your ad choices. Visit megaphone.fm/adchoices

This conversation will change how you handle your relationship starting tonight. The late Dr. Sue Johnson basically gave me a cheat code for relationships that not only last but amplify. She breaks down the real signals to look for in a partner. Why people actually cheat (not what you think) and how to spot it coming a mile away. Plus she offers a simple framework that can turn fights from something that pushes you away to something that brings you closer than ever. We dig into how to keep the spark alive (even after kids), how to survive the empty-nest phase, and three simple things you can do to strengthen your relationship. Doesn't matter if you're single, dating, married, or divorced. You need to hear this. ------ Approximate Timestamps: (00:00) Introduction (07:11) The Life Cycles Of Relationships (08:13) How Do We Choose A Mate? (17:42) Emotional Responsiveness (24:18) Attachment Panic (32:31) How To Deepen Romantic Relationships (43:53) Isolation In Parenthood (59:50) Sexual Problems Unresolved Lead To Poor Intimacy (1:04:07) Ad Break (1:09:10) Affairs and Infidelity (1:36:58) The Stages Of Emotional Connection In A Relationship (1:39:27) Warning Signs Of Relationship Detachment (1:44:48) Predictors Of Success In Couples Therapy (1:51:29) When Relationships Become Transactional (1:55:09) Raising Kids And Creating A Safe Parental Alliance (1:58:51) Retirement Phase ------ Upgrade: Get a hand edited transcripts and ad free experiences along with my thoughts and reflections at the end of every conversation. Learn more @ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠ ------ Follow Shane Parrish X ⁠⁠⁠@ShaneAParrish⁠⁠⁠ Insta ⁠⁠⁠@farnamstreet⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

Sol Price is the most influential retailer you've never heard of. A man who never sought the spotlight, but whose legacy and lessons cover the entire landscape of modern retail. Have you ever wondered why you can still buy a hot dog and soda for $1.50 today at Costco? We can thank Sol Price for that. To him, keeping promises to customers mattered more than profit margins. Sam Walton said he borrowed more ideas from Sol Price than anyone else. Jim Sinegal of Costco said, “I didn’t learn a lot from Sol. I learned everything.” Jeff Bezos studied him. Home Depot echoed him. He invented the warehouse club, pioneered membership retail and built two multi-billion-dollar companies. The real lessons aren’t about what he built, but how he did it. This is the story of how a lawyer with no retail experience created an industry, mentored his competition, and proved that nice guys don't always finish last. ------ Approximate Timestamps: (00:00) Introduction (02:01) Early Years (08:29) Starting FedMart (28:33) Price Club (36:19) When Students Surpass the Teacher (42:09) The Teacher's Last Lesson (43:46) Reflections And Lessons ------ Upgrade: Get a hand edited transcripts and ad free experiences along with my thoughts and reflections at the end of every conversation. Learn more @ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠ ------ Follow Shane Parrish X ⁠⁠@ShaneAParrish⁠⁠ Insta ⁠⁠@farnamstreet⁠⁠⁠⁠LinkedIn⁠⁠ ------ This episode is for informational purposes only. Learn more about your ad choices. Visit megaphone.fm/adchoices

Ryan Petersen is the founder and CEO of Flexport, the platform that coordinates global logistics from factory floor to customer door. In this conversation, he’s refreshingly transparent about the mistakes and painful lessons he’s learned building several companies. He opens up about stepping down as CEO, his struggles with self-confidence, and what happened when he was forced to step in and save his own company.Along the way, we explore why micromanagement might be the secret to better leadership, how Trump-era tariffs reveal the hidden complexity of global trade, and what it takes to scale a company without losing control. There are stories and lessons here you won’t find anywhere else, from a data leak that triggered a call from Steve Jobs to flying 500 million masks into the U.S. during a global shutdown. Thanks to our sponsors for this episode: SHOPIFY: Sign up for your one-dollar-per-month trial period at www.shopify.com/knowledgeproject Basecamp: Stop struggling, start making progress. Get somewhere with Basecamp. Sign up free at www.basecamp.com/knowledgeproject ReMarkable for sponsoring this episode. Get your paper tablet at ⁠reMarkable.com⁠ today Approximate Timestamps: (2:49) Early Life (4:58) First “Start Up” (5:38) Living Abroad in China (10:19) Y Combinator (11:13) Steve Jobs & the iPhone 3G Launch (13:41) Lessons from Import Genius (22:33) Lessons from Paul Graham, Billionaire Investor (25:31) Flexport Early Days (36:08) COVID-Era Flexport (40:06) COVID-Era Flexport – Continued (44:09) Hiring Flexport’s First COO (47:02) Stepping Down as CEO of Flexport (51:07) Cutting Cost & Improving Quality (53:57) Lessons from Other CEOs (57:05) How to Hire the Best Employees (59:31) Paul Graham’s Closed-Door Talk (1:03:21) The Value of a 6-Page Monthly Business Review (1:06:57) Why Do Tariffs Matter? (1:09:52) Tricks for Dealing with Tariffs (1:15:43) Other Creative Strategies for Tariffs (1:21:30) Dealing with Operational Bottlenecks (1:27:41) Lessons from Charlie Munger (1:30:12) Lessons from Peter Kaufman (1:37:50) What Is Success for You? Upgrade—If you want to hear my thoughts and reflections at the end of all episodes, join our membership: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and get your own private feed. Newsletter—The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠ Follow me on X at: ⁠⁠⁠⁠⁠x.com/ShaneAParrish Learn more about your ad choices. Visit megaphone.fm/adchoices

When Katharine Graham took over the Washington Post in 1963, she was a shy socialite who'd never run anything. By retirement, she'd taken down a president, ended the most violent strike in a generation, and built one of the best-performing companies in American history. Graham had no training, no experience, not even confidence. Just a newspaper bleeding money and a government that expected her to fall in line. When her editors brought her stolen classified documents, her lawyers begged her not to publish. They said it would destroy the company. She published them anyway. Nixon came after her, attacking her with the full force of the executive. Then Watergate. For nearly a year she was ridiculed and isolated while pursuing the story that would eventually bring down the president. Graham proved that you can grow into a job that initially seems impossible and no amount of training can substitute for having the right values and the courage to act on them. Approximate timestamps: Subject to variation due to dynamically inserted ads: (02:19) The Making of an Unlikely Heiress (10:15) The Education of a Publisher’s Wife (22:16) Learning to Lead (30:46) Becoming a Media Titan (44:12) Legacy (47:59) Reflections + Lessons This episode is for informational purposes only and is full of practical lessons I learned reading her memoir, Personal History and watching Becoming Katharine Graham. Check out highlights from this book in our repository, and find key lessons from Graham here: ⁠⁠https://fs.blog/knowledge-project-podcast/outliers-katharine-graham/ Thanks to ReMarkable for sponsoring this episode. Get your paper tablet at reMarkable.com today Upgrade—If you want to hear my thoughts and reflections at the end of all episodes, join our membership: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠ and get your own private feed. Newsletter—The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠ Follow me on X at: ⁠⁠⁠⁠x.com/ShaneAParrish Check out our website for all stock video and photo credits. Episode photo sourced from: iwmf.org/community/katharine-graham/ Learn more about your ad choices. Visit megaphone.fm/adchoices