In this video, 'Founders podcast' host and investor David Senra talks with Chris Williamson to deeply analyze the 14 patterns behind the success of the world's best entrepreneurs. They use figures from various fields such as Rick Rubin, Kanye West, Toby Lüttke, Dana White, and James Dyson as examples, and explain the mindset for success, how to work, and how to manage pressure, along with interesting anecdotes. 🎧
1. Lazy workaholic mindset 🧘♂️
The video begins with Rick Rubin's shocking statement "I'm a lazy workaholic". Despite being a world-class music producer, he admits that he hates starting work and has to force himself to lead every day. 😲
"I'm a lazy workaholic. I have to force myself to do it. My temperament is to do nothing."
Chris has admired Rick Rubin for a long time, so he was surprised by his confession. Because I thought Rick Rubin was someone who was completely devoted to music and enjoyed his work. But while Rick likes the act of creation and the finished product, he doesn't like the five-month process of thousands of takes.
"I don't wake up in the morning and think, 'Wow, I can go to work today.' I think, 'Oh, I have to go to the studio.'"
Many people agreed with this statement, and Chris was even more surprised that he had felt this way for 40 years. It is even said that Rick Rubin worked in dark recording studios 16 hours a day, 7 days a week for the first 25 years of his career. Chris says he enjoys his job so much that even two weeks off would make him depressed, so it's surprising that a world-class professional like Rick Rubin would go through such a painful process.
So what kept Rick Rubin going? He says he's addicted to the magic moment of problem solving. After many failures and experiments, 'Ah, now I get it!' It means loving the joy of that moment when you realize that. Rick Rubin has an encyclopedic knowledge of music, and it is said that he gets new ideas by referring to past examples.
2. Why you have to go through 'growing pains' 🐣
Venture capitalist Josh Wolf's quote, "Chips on shoulders put chips in pockets," conveys the message that you must believe in yourself to achieve success. Adam, the founder of Applovin, emphasizes 'inconvenience' for growth and development. He prefers talented individuals with a strong desire to prove something and perseverance rather than those who are wealthy and graduate from prestigious universities. In fact, his second-in-command, Raph, is a high school dropout who has worked with Adam since the age of 17, grew up eating and sleeping in the office, and now owns billions of dollars in shares in the company. 💰
When Adam founded his company, he was rejected by all VCs, and after seeing those VCs investing in competitors, he set a goal to ruin them. His company has now grown to $170 billion, and he is still working with the underprivileged and the underprivileged to achieve his goal of becoming a trillion-dollar company.
Chris and David find that these characters have something in common: the "idea of being born in the wrong place." They are not satisfied with their current lives and the desire to constantly learn and develop for a better future is what drives them. In Kanye West's 2013 interview video, he looked 10 years into the future and was confident of his success, and actually achieved numerous achievements.
David emphasizes the saying "belief comes before ability" and introduces an anecdote about Kanye West practicing her Grammy acceptance speech even before she learned to rap. But his story is sadly interrupted by Kanye West's anti-Semitic comments. 😔
In our pursuit of growth, we often go through "lonely chapters". It's a middle ground where you feel distant from your past friends and feel like you're not good enough to form new relationships. During this period, you may suffer from doubt and uncertainty due to lack of understanding or negative views of people around you. But David says that this 'chip on your shoulder' can actually become a 'chip in your pocket' for success.
3. The importance of taking care of your mental health 🧠
David emphasizes the importance of taking care of your mental health by quoting rapper NF's lyrics: "The mind is a powerful place, and what you feed it can have a powerful impact." This is a common trait not only in the stories of the greatest entrepreneurs in history, but also in the greatest living entrepreneurs he has ever met.
Tobi Lütke, founder of Shopify, runs a $200 billion company, but credits intuition and positive self-suggestion as the secret to his success. He was once afraid of public speaking, but by practicing writing "I love public speaking" 100 times a day, he rewired his brain and now enjoys public speaking. ✍️
David says he completely excludes negative people from his life and stays informed by reading old books and talking to smart and interesting people. Comparing friends to 'sofa friends' and 'treadmill friends', he explains that sofa friends drain energy and make you lethargic when you're together, but treadmill friends energize you and make you grow when you're together. 🏃♀️
"People are so careless about what they put into their minds. 'I'm just going to sit at That's crazy. Because it's affected by everything. "You have to be very careful."
Chris likens his podcast 'Modern Wisdom' to "Spirulina for the soul", describing his efforts to provide nutritious knowledge to those tired of provocative internet content. They emphasize that it is important to not spend your only once life meaningless, but to find meaning in your work and feel proud of it.
4. The power of simple ideas 💡
"Find a simple idea and take it seriously." This phrase is a quote from Charlie Munger, and Chris and David say this principle is essential to the success of the greatest entrepreneurs.
Todd Graves of chicken finger joint Raising Cane's is a prime example of this principle. He had a simple idea: he would be as successful with chicken fingers as In-N-Out was with hamburgers. The menu features only three chicken fingers (3, 4, and 6), which has remained the same for 30 years. He focused on just one item and devoted himself to creating it better than anyone else. 🍗
Todd believed that "if you give your customers the best box, they will keep coming back," and in fact, his company now owns more than 900 stores per year and is still growing rapidly after 30 years. He values his customer contact so much that he has "Fry Chef, Cashier, CEO" engraved on his business cards. He won't sell his company and believes "God sent him into this world to be good at chicken fingers."
David tells an anecdote about Joe Hudson's daughter saying she "found an idea that wouldn't sell for a billion dollars," and emphasizes the importance of not finding money or sales, but ideas you truly love and will dedicate your life to.
"If you love what you do, your retirement should be death."
David says that's what podcasts are for him. They say that two weeks of not being able to do a podcast is something you are so absorbed in that you feel like your life is lacking. Of course, not everyone is looking for this 'infinite game', but ultimately, he emphasizes that you should find something you love so much that you can't stop, not money.
5. Mistakes are a privilege of growth 🌱
"The loudest boos come from the cheapest seats. Mistakes are the prerogative of the proactive." This is a message that UFC's Dana White always emphasizes. Despite creating the largest martial arts organization in the world, he is constantly bombarded with criticism. But he ignores these criticisms and goes his own way.
David praises Dana White for being honest and genuine, and appreciates the way he is not afraid of failure and admits his mistakes. Dana sees mistakes as proof that she's "trying," and keeps going despite criticism.
"If you make a mistake, admit it as quickly as possible: 'Yes, I messed up.'"
Dana has a strong mind to the point where she hangs a sign in her office that says "May God have mercy on my enemies, because we won't"**. He uses the people who laugh at him as fuel to achieve greater success. He says that having people tell him he will fail gives him strength.
The anecdote in which the UFC acquired an organization on the verge of bankruptcy for $2 million and grew it despite losses for several years shows their persistence and passion. When Dana earned $1 million a year after turning a profit for the first time, she thought, "If I earn this much, I can do this for the rest of my life." He says he hasn't lost his original spirit even now that he's earning billions of dollars.
6. The power of listening 💪
"Successful people listen. People who don't listen don't last long." This is a famous quote from Michael Jordan. Michael Jordan is often thought of as a dictatorial figure, but he was actually a sponge-like person who absorbed useful information and used it to achieve his goals.
Pixar founder Ed Catmull tells a similar story. He worked with Steve Jobs for 24 years and tells the story of how Jobs fired two board members who did not oppose him. The reason was "If they just agree with me, they don't add any value to the company." 🤯
David tells the story of how Chris advised him to start a video podcast, and says he would have missed out on a huge opportunity if he hadn't listened to his advice. The ability to accept feedback and update your worldview is very important.
"Having strong opinions and holding them loosely—the ability to change your mind when necessary—are important traits of successful people."
It is said that Charlie Munger always presented the best rebuttal the other party could offer before making any argument. This shows that he has thought deeply about the topic and how confident he is in his arguments. This 'reverse attitude' is a great help in constantly improving yourself.
7. Avoiding problems, not solving them 🚫
"Wise people don't solve problems, they avoid problems." These words from Charlie Munger are consistent with another of his famous sayings: 'Wisdom is prevention'. Charlie Munger went through the extreme pain of divorce and the death of his young son, but through it he realized the importance of avoiding problems.
While he acknowledges that problems are inevitable, he emphasizes the importance of preventing problems that are within your control. To achieve this, he advises two things:
- Relationship with good people: Having a small group of great friends for life and receiving love and support. 👯♀️
"Most people are like rat poison. There are many evil and low-quality people. You should avoid them."
- Find something great: Find something that is meaningful to you and have a positive impact on the world and do it consistently. 💼
It is said that through these two things, you can avoid most problems and develop the strength to deal with unexpected problems that you cannot control.
In this regard, Chris says, "It's much easier to date someone who complements your flaws than it is to fix your own," suggesting that avoiding problems rather than solving them may be a wiser approach. The advice is to reduce the energy you waste on enduring pointless suffering and to proactively avoid unnecessary friction that can be eliminated from your life.
David calls Spotify founder Daniel Ek the 'Swedish Buddha' and says he emphasized the importance of screening the people around you. Daniel reportedly advised David, "Keep your life very simple. Do nothing except sit in your room, make a podcast, spend time with your friends, and take care of your health. Don't go to unnecessary dinners or conferences. Just stay away from the circus." 🎪
8. Create for yourself 🎨
"Create according to your taste, not applause, critics, algorithms, or market demand." This is Rick Rubin's philosophy. He presents the 'house on the mountain test' in his book <Creative Act>.
"Suppose you built an isolated house on a mountain and no one would see it but you. Would you still do your best to decorate and design it?"
The answer to this question is 'what you truly want (revealed preference)'. Rick Rubin only makes music he wants to hear. He says don't think about your audience, your customers, or your end users. The idea is that "you are not that unique," and the belief is that if you create something you like, there will surely be countless others who like the same thing.
Chris and David do the same, creating podcasts they want to listen to. David says you should like your podcast so much that you won't get tired of it even if you listen to it in advance.
"If you don't consume your content, don't post it."
If you think about it for more than 5 seconds, say firmly that the answer is no. This contains the message that one's life should also be designed that way. You should design not only the parts that are visible to others, but also the inner parts that only you know, according to your true taste.
9. Edit your life mercilessly 🔪
Tim Urban presented the concept of 'Grand Theft Life' in his essay about Elon Musk. This means looking at your life from an outsider's perspective, dispassionately analyzing it, and making changes, as if you were playing a game character.
Shopify's Toby Lütke says he views the company through the eyes of a "corporate raider." That is, the perspective is, "I didn't start Shopify, I didn't run it, and now I've taken over the company. The previous management was crazy, and I have to change everything." This detached perspective allows you to see the bigger picture rather than getting caught up in everyday problems.
Chris introduces the idea of George and asks "If there was a villain version of you, what would he do to beat you?" This question will help you identify your biggest weaknesses and improve them. David responds that for him, he will be "more determined, less hesitant, less indecisive."
"If you had 10x the power, what would you do? You would know where your biggest weaknesses are."
David confesses that 'distraction' was his biggest mistake over the past year. Following Daniel Eck's advice ("Stay away from the circus"), he decided to cut back on unnecessary outside activities other than producing his podcast, taking care of his health, and spending time with friends.
10. Relationships are the core of life 💖
David offers an interesting analysis of how successful entrepreneurs often have problems in their relationships with women. According to him, this is because of their 'expansive personality'. Their tendency to pursue greater success as they become more successful affects all areas of life, and this expansion can be problematic in romantic relationships.
"Appetite comes with eating." (quote from Napoleon)
Unlike ordinary people, successful people have the trait of wanting to eat more the more they eat. Therefore, problems such as infidelity may arise. David says having a supportive spouse or no spouse at all is important for a successful entrepreneur.
Music legend Jimmy Iovine shared with David the four reasons successful people fail.
- Drugs 💊
- Alcohol 🥃
- Megalomania: Being intoxicated with success and thinking that one is as special as a god and neglecting one's efforts.
- Women 👩❤️👨: The wrong woman (or man) can destroy your life. Jimmy was so saddened by the loss of his father that he quickly married a Playboy model, later regretting that he "married the wrong person."
Chris quotes the saying, "What you are praised for in public, you will pay for in private," and points out that the traits that make you successful in business (such as tenacity, tenacity, and tenacity) can be problematic in personal relationships. Andy Stump, a former Navy SEAL, confessed, "I stayed unnecessarily married for 10 years because of my identity as a person who never gives up."
David realized he had lied about his introverted nature. He says he didn't think relationships were important to him, but he realized that connecting with high-quality people gave him the most energy and joy.
"I lied and said relationships weren't the most important thing in my life. But the truth is, they're more important than anything else."
11. If you settle for victory, you will lose 🏆
"If you fall asleep in victory, you will wake up in defeat." This is a Conor McGregor quote. However, David points out that, ironically, there are many people like McGregor who fell because they did not follow his advice. There are many cases where people lose their original intention due to the temptation of success (money, drugs, women, etc.).
David's personal hero is Dyson founder James Dyson. David has read his autobiography, Against the Odds, countless times, and says meeting him in person was a turning point in his life.
This book is not the story of James Dyson, who is currently 78 years old and successful, but the story of his struggle with repeated failures for over 10 years in his mid-30s and 40s. After 5,126 failed prototypes, the 5,127th prototype was successful. David said that reading this book helped him not to give up when he was losing money and not succeeding with his podcast.
"This man has been struggling for 14 years. I could give it a try for a year."
David admired how James Dyson, despite his enormous wealth and fame, still devoted himself to his work and constantly sought to improve it.
"I pick up a product, think, 'How can I make it better?' I make it better, and put it back down. After a while, I pick it up again, and think, 'How can I make it better?' I make it better, and I put it back down. And I haven't stopped doing it for 45 years."
David explains that this is the secret to constantly improving and not resting on your laurels. James Dyson has an 'engineering mind' that finds things to improve in everything, and to him the world is like a giant puzzle. David emphasizes that loving the activity itself and an attitude of continuous improvement are the keys to maintaining success.
12. Respect is the best goal 🎯
In 1999, Eminem said "I don't do it for the money. I do it for the respect. Even if I had a trillion dollars, I would be the most miserable person." He considered 'status' and 'skill' more important than money, and always aspired to be the best.
"What does a platinum record matter? It's meaningless if I'm not the best."
Through their podcast, David and Chris aim to create the best content possible, share information with their peers, and develop each other. They understand that, as Jeff Bezos said, "We're trying to build something that our grandchildren can be proud of. That's not easy."
David says the pride he feels when his daughter hears that celebrities like Mr. Beast and Todd Graves like his podcast is worth more than any amount of money.
"I think the only thing more addictive and satisfying than money is being respected by people you respect."
This means that true achievement is not simply seeking 'status', but being recognized by people you respect. David emphasizes that sharing know-how with other podcasters and growing together is a 'win-win' strategy. Just as early filmmakers like George Lucas and Steven Spielberg grew up together by exchanging ideas with each other.
13. Don't be swayed by others' opinions 🗣️
Lastly, David emphasizes "Don't Let Others Define Your Success". He says you need to judge your success by having an 'internal scorecard'.
"People let society and other people define success. I don't even know how many downloads I have. I don't care."
David bases his success on the question he learned from Steve Jobs: "Have I created something I'm proud of?" He says it's important to focus on creating episodes you can be proud of, no matter how much time it takes.
Of course, it is important for the created content to reach people, but the most important thing is pride in what you have created. David believes that the moment he becomes negligent in creating content or neglects preparation is a 'failure'.
However, Chris points out that we should not remain too 'underground'. As David Ogilvy said, "You can't save souls in an empty church." Chris adds that if you believe your work has a positive impact on the world, it is a moral imperative to try to reach as many people as possible.
In conclusion ✨
This conversation between David Senra and Chris Williamson provides deep insights for successful life and business. From Rick Rubin's 'lazy workaholic' to James Dyson's 'endless improvement', they inspire us through the stories of people who constantly challenge and grow with their own philosophies.
In conclusion, they say that finding something you truly love and are proud of, constantly learning and improving to do it, boldly eliminating negative factors around you, and forming relationships with high-quality people who help you develop is the path that will lead to ultimate success. It is more important than anything to move forward steadily with your own 'internal scorecard' without being swayed by external opinions or short-term success. 🚀