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Founders

Edwin Land and Steve Jobs

Founders

David Senra

Steve Jobs, Founders, James Dyson, Company Builders, Technology, Henry Ford, Elon Musk, Business Professional Biography, How I Built This, The History Of Entrepreneurship, Jim Clark, Entrepreneurship, Entrepreneurs, History, Founder, Business Autobiography, Jeff Bezos, Entrepreneur, Biography, Biographies Of Entrepreneurs, Biographies, Business, Business Biography

4.81.5K Ratings

🗓️ 20 October 2024

⏱️ 62 minutes

🧾️ Download transcript

Summary

What I learned from rereading Instant: The Story of Polaroid by Christopher Bonanos.

Transcript

Click on a timestamp to play from that location

0:20.0

So a few months ago I spent about seven hours at John Mackie, the founder of Whole Foods, and it was during one of our conversations that John told me one of the craziest things that anyone has ever said about the podcast. By the time I met him, he had already listened to over 100 episodes and he told me that if founders existed when he was younger that Whole Foods would still be an independent company. That since the podcast and all of history's greatest entrepreneurs constantly

0:23.0

emphasize the importance of controlling expenses he would have made it much more

0:26.9

of a priority especially during good times during boom times I think it is

0:31.9

very natural for a company and for human nature

0:34.5

to not watch your costs as closely because everything is going so well. In fact,

0:39.6

you're going to hear something similar happens to Edwin Land late in his career. After Edwin Land... to called one of the dumbest things that have ever heard.

0:53.6

Unfortunately, Koss got out of hand and Edwin Land left Polaroid.

0:56.7

This is something that happens a lot.

0:58.0

In fact, when Steve Joss was recounting some of the stakes that he made in his own career,

1:01.7

he mentioned losing the discipline of cost

1:03.9

control. He was talking about his time at next and in one of his biographies there's a line that says,

1:09.2

not only was time slipping by quickly but so too was the money. Jobs complained, allowed that we're not

1:15.6

scrounging. We stopped nickel and dimming for the stuff and it all adds up.

1:19.9

This is something I talk about all the time with my friend Eric who's the co-founder and CEO of RAMP

1:24.7

RAMP is now a partner of this podcast. I've gotten to know all the co-founders of RAMP and has spent a bunch of time with them

1:30.7

over the last year or two. They all listen to the podcast and they've

1:34.4

picked up on the fact just like John Mackie did that the main theme from the

1:38.4

podcast is on the importance of watching your costs and controlling your

1:41.5

spend and how doing so can give you a massive competitive

1:45.2

advantage.

1:46.4

That is the reason that RAMP exists.

1:49.0

RAMP exists to give you everything you need to control your spend. RAMP exists to give you everything you need to control your spend. Ramp exists to give you everything you need to control your costs.

...

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