The Knowledge Project with Shane Parrish

• #222 Outliers: Cornelius Vanderbilt — The First Tycoon

  Cornelius Vanderbilt was a force in 19th century America, playing a pivotal role in transitioning the U.S. economy from rural mercantilism to industrial corporate capitalism. Vanderbilt didn't just compete—he dominated; and didn’t just dominate one industry—he conquered three: ferries, steamships, and railroads. He understood that power lay in controlling infrastructure and not just operating within it. His cutthroat tactics were both feared and admired but his vision for what the economy could be was undeniable.  This is the story of how Vanderbilt turned calculated aggression into an art form, how he endured more pain than his competitors, and how he built systems that outlived him.  Learn the mindset, strategies, and brutal lessons behind his dominance; the game of business hasn’t changed as much as you think.  (02:20) Prologue (05:12) PART 1 - The Dutch Inheritance (08:21) The Young Boatman (12:30) Capitalizing on War (15:27) General Merchant of the Sea (19:29) PART 2 - The Meeting That Changed Everything (21:48) The Steamboat Wars (24:12) The Anti-Monopoly Crusader (27:06) The Rise of the Commodore (32:08) The Monopolist's Nemesis (34:58) PART 3 - Sole Control (37:28) Prometheus (40:18) Star of the West (44:06) Europe and Betrayal (48:15) The Independent Line (50:13) PART 4 - The Commodore’s Return (51:55) Gray Eyed Man of Destiny (53:36) The Conspiracy (54:41) Finishing Walker (55:54) Conquering the Seas (58:13) America's Wealthiest Citizen (60:47) PART 5 - Vanderbilt's Railroad Dominance (01:01:59) The Path to Confrontation (01:03:37) The Breaking Point (01:04:43) The Power to Punish (01:06:32) The Collapse (01:07:50) The Silent Conquest (01:08:57) The Consolidation (01:10:54) The Legacy (01:12:15) FINAL PART - Vanderbilt: The Architect of Modern American Business (01:14:19) Reflections This episode is for informational purposes only and most of the research came from reading The First Tycoon by T.J. Stiles and Tycoon’s War by Stephen Dando-Collins. Check out highlights from these books in our repository, and find key lessons from Cornelius Vanderbilt here — fs.blog/knowledge-project-podcast/outliers-cornelius-vanderbilt Upgrade — If you want to hear my thoughts and reflections at the end of all episodes, join our membership: ⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠ and get your own private feed. Newsletter — The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at fs.blog/newsletter Learn more about your ad choices. Visit megaphone.fm/adchoices

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• #221 Bruce Flatt on Value, Discipline, and Durability

  Brookfield CEO Bruce Flatt reveals the investment philosophy behind building one of the world's largest alternative asset managers with over a trillion dollars under management.  At the core of Brookfield's strategy is a disciplined focus on downside protection that has delivered 19% annualized returns over 30 years. Flatt identifies three major trends driving their investments: digitalization (including AI infrastructure), global energy transition, and reindustrialization as supply chains shift. The conversation explores Brookfield's approach to risk management, their expansion into insurance, and their meritocratic culture. When Shane presses for clarity on Brookfield's complex corporate structure, Flatt provides rare insights into how the organization's design creates both operational flexibility and investment opportunities.  What separates Brookfield from competitors? Patient capital: the discipline to wait for extraordinary opportunities and the financial strength to act when others can't.  If you want to understand how the smartest capital allocators think and what it takes to build something enduring, this episode is essential listening.  Thanks to these sponsors for supporting our show:  NordVPN: EXCLUSIVE NordVPN Deal ➼ nordvpn.com/KNOWLEDGEPROJECT. Try it risk-free now with a 30-day money-back guarantee  Shopify: Sign up for your one-dollar-per-month trial period at shopify.com/shane. All lowercase. ShipStation: Get a 60-day free trial at www.shipstation.com/knowledgeproject. The opinions shared on this podcast belong solely to those expressing them. Hosts and guests may hold positions in the securities discussed. This podcast is intended to provide general information only and should not be considered financial advice.  (00:02:56) Changes in Investing Over the Past 25 Years (00:04:51) How Private Enterprise Has Built Our Tech Infrastructure (00:07:08) Implications and Opportunities of Passive Investing (00:09:08) Advantages of Private Companies (00:12:36) Three Investment Themes (00:15:11) Winners in Digitalization (00:16:45) Application of Artificial Intelligence in Businesses (00:21:44) Transition to Low-Carbon Energy (00:25:24) Future of Data Centers (00:27:32) De-globalization of Industry (00:29:59) Implications of Manufacturing Repatriation (00:31:11) Long-term Prospects for America (00:36:20) Approach to Risk and Debt (00:37:48) Impact of Interest Rates (00:40:47) Managing Market Dislocations (00:42:30) Long-term Investing Strategy (00:45:06) History and Future of Brookfield (00:47:55) Exploration of Private Markets and Insurance (00:48:48) Investment Decision Process (00:55:18) Understanding Brookfield's Structure (00:59:40) Positioning of Brookfield's Businesses (01:00:21) Talent and People Management at Brookfield (01:02:58) Focus on Downside Protection (01:05:03) Accountability in Investment Decisions (01:06:32) Understanding Investment Cycles (01:08:14) Learning and Training in the Organization (01:09:06) Postmortem Analysis of Investments (01:11:14) Consideration of Geopolitical Risks Newsletter - The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at fs.blog/newsletter Upgrade — If you want to hear my thoughts and reflections at the end of the episode, join our membership: ⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠ and get your own private feed. Watch on YouTube: @tkppodcast Learn more about your ad choices. Visit megaphone.fm/adchoices

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• #220 Outliers: James Dyson — Against the Odds

  How do you turn 5,127 failures into a multi-billion-dollar empire? James Dyson turned dust into possibility, failure into discovery, and frustration into revolution.     Dyson didn’t just build a better vacuum; he redefined a whole industry. Facing thousands of failed prototypes, crushing financial setbacks, and a dismissive industry that insisted a superior vacuum was impossible, Dyson transformed doubt into fuel that created an empire he still owns and operates today. Dyson’s genius stretched far beyond engineering. He was a contrarian thinker whose natural state was to defy the experts. From reinventing hand dryers to fans and hairdryers, Dyson repeatedly turned mundane frustrations into game-changing products. His relentless curiosity and willingness to fail publicly set new standards for innovation. When competitors mocked him, he stayed focused. When patents were threatened, he defended fiercely. Dyson's story is one of unwavering persistence, unorthodox creativity, and the courage to trust his own instincts—even when everyone else doubted.      This is the story of James Dyson. Learn how one decision can change everything for a whole family.    This episode is for informational purposes only and is based on Against the Odds: An Autobiography by James Dyson. Quotes from Against the Odds and James Dyson’s Invention: A Life  (02:35) Prologue: The Kitchen Floor Experiment PART 1 - EARLY SPARKS OF TENACITY (05:05) A Childhood of Resilience and Determination (08:19) Gresham’s School (11:25) From Art to Engineering: A Defiance of Convention (14:58) A Mentor: Jeremy Fry (17:37) Just Build It (19:23) The Sea Truck (22:16) Lessons From The Egyptians (24:16) Misfit Mentality PART 2: FIRST INVENTIONS AND HARD LESSONS (26:48) Reinventing The Wheel(barrow) (28:54) Popular Not Profitable (30:56) Leaving Ballbarrow with Nothing (34:09) History of the Vaccuum (36:23) Cyclone in a Sawmill (39:17) 5,127 Prototypes (41:57) Industry Rejection (44:14) Building the Business PART 3: BUILDING AN EMPIRE (48:15) Passion Over Profit (50:04) Beyond Vacuums (53:08) R&D Culture & Iterative Design (55:44) Patent Wars & Legal Battles (57:49) Value of Keeping Ownership (59:59) Recap of Dyson’s Journey (01:02:55) SHANE’S REFLECTIONS Key lessons from James Dyson: fs.blog/knowledge-project-podcast/outliers-james-dyson Upgrade — If you want to hear my thoughts and reflections at the end of all episodes, join our membership: ⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠ and get your own private feed. Newsletter - The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at fs.blog/newsletter Learn more about your ad choices. Visit megaphone.fm/adchoices

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  1:12:42
• #219 Logan Ury: The Dating Myths You Need to Stop Believing

  Most people date the wrong way. They chase the spark, mistake attraction for compatibility, and expect their partners to read their minds. Then they wonder why relationships don’t last. Logan Ury thinks about dating differently. As the Director of Relationship Science at Hinge, she’s spent years studying what actually makes relationships work. Her findings will change the way you think about attraction, communication, and commitment. In this conversation, Logan reveals why the spark is overrated, how to optimize your dating profile, and the one thing (actually, 8) you must do after every first date. We break down attachment theory, orbiting, polyamory, and having hard conversations in a healthy way. We get answers to questions like: "what’s an appropriate age gap?" and "what to say if you’re not interested after a date?" Plus, Logan shares how she made the decision to be with her husband and the importance of “other significant others.”      If you want to stop wasting time on the wrong people and start building something real, this episode is for you.   (2:49) First Dates and the Slow Burn (8:07) The Post-Date 8 (14:30) Dating Like a Scientist (15:50) The Height thing... (18:56) The Spark vs Lust (26:35) Fear of Rejection (29:01) Understanding Attachment Theory (39:20) Navigating Online Dating (41:36) Effective Communication in Dating (51:58) Texting Etiquette (01:05:33) Dealing with Rejection (01:08:44) Polyamory (01:13:32) Orbiting (01:30:45) Logan's Story of Meeting Her Husband (01:37:12) Navigating Crucial Decision Points in Relationships (01:41:48) Having Difficult Conversations in Relationships (01:50:15) Other Significant Others (01:59:05) Breaking Up Respectfully (02:02:08) Tips for Creating Dating Profiles   Logan Ury is a behavioral scientist, dating coach, and the Director of Relationship Science at Hinge. She’s the bestselling author of How Not to Die Alone.  Newsletter - The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at fs.blog/newsletter Upgrade — If you want to hear my thoughts and reflections at the end of the episode, join our membership: ⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠ and get your own private feed. Watch on YouTube: @tkppodcast Learn more about your ad choices. Visit megaphone.fm/adchoices

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  2:12:51
• #218 Outliers: Estée Lauder — A Success Story

  Most people hear "Estée Lauder" and think of cosmetics—lipstick, perfume, face cream. But the real story isn’t just about makeup—it’s about a woman being an unstoppable force. Estée Lauder didn’t just build a beauty brand; she rewrote the rules of an industry. She turned rejection into fuel, defied industry gatekeepers, and transformed a homemade face cream into a multi-billion-dollar global powerhouse.  When department stores refused to stock her products, she created a demand they couldn’t ignore. When experts said women wouldn’t spend $115 on face cream, she proved them wrong. When competitors copied her formulas, she didn’t fight them—she outmaneuvered them. Her real genius wasn’t in chemistry, but in understanding human psychology, persistence, and the power of storytelling.  This is the story of Estée Lauder. Make sure to stick around at the end for my reflections and thoughts. (05:26) Chapter 1 - The Early Years (08:17) Chapter 2: From Kitchen to Department Stores: The Beauty Revolution (09:04) First Break: House of Ash Blondes (11:58) Married (13:35) Chapter 3: Marketing Genius and Brand Building: The Perfect Moment (15:20) The Power of a Gift (16:51) Tell-A-Woman (19:04) Department Store Breakthrough (21:03) Chapter 4: The Expansion Era: The Key to Success (26:09) Tell-Every-Woman (28:42) Beyond Department Stores (34:58) Chapter 5: Youth Dew (36:37) Creating a New Category (39:35) Success Breeds Competition (41:16) Knowing what not to do (44:06) Chapter 6: Beyond America: London Calling (45:53) A Lesson in Brand Building (47:43) The French Accident (48:38) The Art of Adaptation (49:49) Chapter 7: New Categories: Growing the Whole Pie (52:08) The Clinique Revolution (53:28) A New Kind of Marketing (56:13) Chapter 8: The Lauder Philosophy: Business as Obsession (56:25) Core Principles (58:55) The Human Touch (01:00:38) SHANE’S REFLECTIONS This episode is for informational purposes only and is based on Estée Lauder’s incredible 1985 autobiography Estée: A Success Story. Upgrade — If you want to hear my thoughts and reflections at the end of all episodes, join our membership: ⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠ and get your own private feed. Newsletter - The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at fs.blog/newsletter Learn more about your ad choices. Visit megaphone.fm/adchoices

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  1:21:48

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