We all have different jobs in different companies in different industries. But there’s a common thread among most people’s jobs. They’re in the business of trying to figure out what people want and where the world is heading next.
When I hired Kanyi back in 2011, he was an optimistic, smart, fun-loving, thoughtful person. We immediately hit it off. We both cared deeply about making the world a better place, and that bond proved to be a foundation for an incredible business partnership and friendship.
Abraham Germansky was a multimillionaire real estate developer in 1920s. He also loved stocks, betting heavily as the market boomed. As the crash of 1929 unfolded, he was wiped out.
An amazing thing about life before 1850 is that most people never experienced a world more than a few dozen miles outside of their birthplace.
Even the very best idea isn’t a guaranteed success without the right implementation. As Michael Dell once said, “Ideas are commodity. Execution of them is not.”
Phil Knight started Nike in the 1970s. From day one, runners couldn’t get their hands on them fast enough.
But Nike had two problems.
My friend Patrick O’Shaughnessy is a professional investor with a book club. A while ago he sent his club an email with his favorite books of the year.
More than $30 trillion will be transferred from baby boomers to their children in the coming decades.
“In my whole life, I have known no wise people who didn’t read all the time,” says Charlie Munger. “None. Zero.”