flâneur

Founders: #338 Monty Moncrief Texas Oil Billionaire

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What I learned from reading Wildcatters: A Story of Texans, Oil, and Money by Sally Helgesen. ---- Get access to the World’s Most Valuable Notebook for Founders by investing in a subscription to Founders Notes ---- Founders merch available at the Founders shop ---- Vesto shows you all of your company's finances in one view. Schedule a demo with Vesto's founder Ben and tell him David from Founders sent you. ---- (0:01) Family and business were the same thing to him. (1:00) We're one-hundred percent family owned, unincorporated, and independent, and we intend to stay that way. (1:00) He possessed the directness and the utter simplicity of the old and the truly great. (2:00) His unquestioning confidence in the worthiness of his enterprise made him seem impervious to doubts. (5:00) The Morgans always believed in absolute monarchy. While Junius Morgan lived, he ruled the family and the business. Until Junius died his massive shadow dominated his son’s life. — The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance by Ron Chernow. (Founders #139) (8:00) Everywhere they looked, they saw opportunity without limits. The land itself was empty, and so these men built c

[00:00:00] In 1978, Monty Moncrief was 84 years old. He was still very much the patriarch of his clan, the man who made the decisions in his family and in his family's business. Family and business were, in fact, the same thing with him, the desire to found the one being inseparably tied to the desire to found the other. When speaking of his business, he never mentioned himself specifically. He would always say, we signed this deal. We figured out what was best. This is a we kind of business, he explained. [00:00:31] We don't tolerate any of that I stuff around here. In Texas, in the oil…

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