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Founders: #70 Mark Spitznagel: The Dao of Capital

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What I learned from reading The Dao of Capital: Austrian Investing in a Distorted World by Mark Spitznagel. Klipp's Paradox (0:01) the whole point of my approach to investing is that we must be willing to adopt the indirect route to achieve our goals (14:00) finding his life's work (19:00) if my children will only read one book on economics I would be Economics in One Lesson (25:30) why it is always possible to start new, successful companies (30:00) the point is not to go slow to stay glow. it is to go slow now so you can go faster later (34:15) Robinson Crusoe and roundabout production (39:30) Henry Ford as the quintessential roundabout entrepreneur (45:00) how Mark uses roundabout in his investing (54:00) ---- Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gare

[00:00:00] You've got to love to lose money, hate to make money, love to lose money, hate to make money. But we are human beings. We love to make money, hate to lose money. So we must overcome that humanness about us. This is Clip's paradox, repeated countless times by a sage old Chicago trader named Everett Clip, and through which I first happened upon an investment approach, one that I would quickly make my own. This is the roundabout approach, indeed central to the very message of this book. Rather than pursue the direct route of immediate gain, we will seek the [00:00:37] difficult and…

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