Things Learned From…
Lucille Ball
“One of the things I learned the hard way was that it doesn’t pay to get discouraged.”
Charles Marcus
“Surround yourself with people who are going to motivate and inspire you.”
Domonique Foxworth on NFL quarterbacks (though I think it can be applied broadly)
There's a difference between processing quickly and processing early.
A quarterback that can process things early — anticipating what the defense is going to do before the play starts — will have less on his mind, which makes the rest of his job easier.
You don't want to have too much going on in your mind at any given time.
The lesson he learned from watching his parents’ small business go bankrupt:
“The biggest lesson was the need to prepare for old age by being diversified.
My dad and his two brothers had every single penny in the store.
When the store failed, he and my mom had their house, but that was it. So it fell to me and my siblings to take care of them.”
Founder-led > Non Founder-led
Approximate calculation on this:
Founder-led companies = 16.5% annual return from 1990-2014, or 42x your initial investment
All other companies = 11.5% annual return from 1990-2014, or 14x your initial investment
I don’t have data from 2014-21, but I think it’s fair to estimate founder-led companies kept outperforming over the past seven years.
Thanks for reading! Hope you have a fantastic day.