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Founders: #58 John Bogle: Enough: True Measures of Money, Business, and Life

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What I learned from reading Enough: True Measures of Money, Business, and Life by John Bogle ---- Gentlemen, cut your costs. [4:00] the benefits of being forced to work early on in life [7:00] I'll never forget the inspiration when I read this quote: The force of his mind overcame his every impediment. [9:30] the traits he needed to found Vanguard [12:00] what John thinks we should be doing better [13:30] create things that help other people/Charlie Munger [17:30] When a business fails people want to know their revenue. I want to know their costs [19:30] the past is not a prologue in the financial markets... please, please, please don't count on it. [23:00] Einstein well understood the limits of quantification / the way we act and the way we measure are in conflict [26:00] Show me the incentive and I will show you the outcome. –Charlie Munger / If you get the incentives right when you start the company you will grow. [35:00] A rule of life: Press On, Regardless [39:00] 10 reasons why I bother to battle [44:00] ---- 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

[00:00:00] True story. Word of honor. Joseph Heller, an important and funny writer, now dead, and I were at a party given by a billionaire on Shelter Island. I said, Joe, how does it make you feel to know that our host, only yesterday, may have made more money than your novel, Catch-22, has earned in its entire history? And Joe said, I've got something he can never have. And I said, what on earth could that be, Joe? And Joe said, the knowledge that I've got enough. Not bad. Rest in peace. Kurt Vonnegut, that John Bogle read and two years later used for the basis of his commencement address…

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