August 13, 2013

Random Show Episode 22

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A new episode of the Random Show with Kevin Rose (founder of Digg) and Tim Ferriss (author of The 4-Hour Workweek) is out! This is episode 22.


Lessons learned:
  • "Always have three ways to do something." Magicians tend to have backup plans if someone reveals the secrets behind a trick. KR told a story when someone revealed the secrets behind a trick performed by the magician David Copperfield, but Copperfield knew how to perform that trick in multiple ways, so on stage he could show that his secrets hadn't really been revealed.
  • KR has interviewed several entrepreneurs (see them all at Foundation), including Elon Musk (Tesla Motors, SpaceX, PayPal), Jack Dorsey (Twitter), and Evan Williams (Blogger). One of the conclusions from the interviews is that these successful entrepreneurs have surrounded themselves with people that are smarter and more talented than they are. If the people around you are are not contributing you have to find out why, and if they don't begin to contribute they have to find another job.
  • "If you are buying a stock you should forget about it for five years." KR seems to be a fan of Warren Buffett and KR is trying to apply the philosophies by Buffett when he's investing in stocks. One of the stocks KR owns today is Tesla Motors. He argued that the car company could become an energy company if Tesla Motors begin to rent their charging infrastructure to other car companies.
  • "Invest in laziness." KR has also invested in Amazon and argued that people become more and more comfortable, thus they prefer to buy stuff on the Internet.

Recommendations:

If you want to watch the rest of the episodes, you can find them here:
The Random Show with Kevin Rose and Tim Ferriss