Founders

#336 How To Lose A Few Billion Dollars: Samuel Insull

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Sinopsis

What I learned from reading Insull: The Rise and Fall of A Billionaire Utility Tycoon by Forrest McDonald. ----Get access to the World’s Most Valuable Notebook for Founders by investing in a subscription to Founders Notes----Come and build in-person relationships at the Founders Only conference----(0:01) Insull had been in the electric business as long as there had been an electric business.(4:00) He awoke early, abruptly, completely, bursting with energy; yet he gained momentum as the day wore on, and long into the night. Sam had near-demonic energy.(5:00) Sam's most obvious attribute was a capacity for racing through large quantities of reading material, effortlessly perceiving its important assumptions and generalizations, and thoroughly assimilating its salient details.(7:00) He eagerly embraced platitudes:• Idle hands are the devil's workshop• Time is money• Things are simply "done" or "not done"• One reveres one's family• Only that which is useful is good• Survival of the fittest(8:00) Opportunity handl