Timothy Ferriss's Blog, page 62

Peter Mallouk — Exploring the Worlds of Investing, Assets, and Quality of Life (#356)

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“You spend the first 20 years of being rich accumulating all of this stuff. And then you’ll spend the next 20 years trying to get out of one thing after another to simplify your life.”  — Peter Mallouk

Peter Mallouk (@PeterMallouk) is the President of Creative Planning, one of the largest independent wealth management firms in America.

Creative Planning provides wealth management services to clients, manages over $36 billion for clients in all 50 states and abroad, and has been featured as the number one independent wealth management firm in America by Barron’s (2017).

Peter is featured in Worth magazine’s Power 100, featuring the most powerful men and women in global finance, the only financial planner on the list (2017 and 2018). Creative Planning was featured in Forbes in 2016 as the number one RIA for growth over the last 10 years.

Peter is the co-author (with Tony Robbins) of Unshakeable: Your Financial Freedom Playbook.

Please enjoy!

Listen to the episode on Apple Podcasts, Spotify, Stitcher, Overcast, or on your favorite podcast platform. 

[image error] [image error] [image error] #356: Peter Mallouk — Exploring the Worlds of Investing, Assets, and Quality of Life
https://rss.art19.com/episodes/5a534877-430d-43dd-88ae-b701cc068127.mp3Download

Listen to it on Apple Podcasts.
Stream by clicking here.
Download as an MP3 by right-clicking here and choosing “save as.”

Would you like to hear my interview with investor Howard Marks? — Listen here to learn more about understanding market cycles for making better decisions, the three stages of a bull market, and how Howard cultivates clearer thinking. (Stream below or right-click here to download.):

#338: Howard Marks — How to Invest with Clear Thinkinghttps://rss.art19.com/episodes/5016cc2c-3e67-449f-8b53-f06d488e5baf.mp3Download

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QUESTION(S) OF THE DAY: What was your favorite quote or lesson from this episode? Please let me know in the comments.

Scroll below for links and show notes…

SELECTED LINKS FROM THE EPISODE

Connect with Peter Mallouk:

Website | Twitter | Facebook | LinkedIn

Connect with Creative Planning:

Website | Twitter | Facebook | LinkedIn

Unshakeable: Your Financial Freedom Playbook by Tony Robbins and Peter Mallouk
Money Master the Game: 7 Simple Steps to Financial Freedom by Tony Robbins
The Legendary Tony Robbins Palms My Entire Face, Instagram
Gold Price History from 30 BC to Today by Kimberly Amadeo, The Balance
The Federal Reserve Was Created 100 Years Ago. This Is How It Happened. by Neil Irwin, The Washington Post
The Prophets of Cryptocurrency Survey the Boom and Bust by Nick Paumgarten, The New Yorker
Walmart Embraces IBM’s Blockchain Tech by Timothy Green, The Motley Fool
Blockchain, Explained, Investopedia
The BlackBerry-to-iPhone Switch: Converts Speak by Al Sacco, CIO
A Quick Guide to Asset Allocation: Stocks vs. Bonds vs. Cash, The Motley Fool
Money Management vs. Wealth Management: What Do You Need? by Randall J. Richard, Richard Brothers Financial Advisors
What Are the Traditional and Alternative Asset Classes? by Carrie Smith, Investor Junkie
The Gay Men Who Have Lived for Years With Someone Waiting on Their Death by Jack Lowery, The Atlantic
Real Estate Investing: A Guide, Investopedia
Seth Klarman: Why You Need to Get Used to Holding Cash by Rupert Hargreaves, Guru Focus
The 10 Worst Corporate Accounting Scandals of All Time
The Origin of “The Market Can Remain Irrational Longer Than You Can Remain Solvent” by Garson O’Toole, Quote Investigator
The 5 Mistakes Every Investor Makes and How to Avoid Them: Getting Investing Right by Peter Mallouk
Common Sense on Mutual Funds by John Bogle
The Intelligent Investor: A Book of Practical Counsel by Benjamin Graham
16 Years Ago Today, Napster Changed Music as We Knew It by Tom Barnes, Mic
Peter Mallouk Wants a Few Good Advisors, with No Assets by Jane Wollman Rusoff, ThinkAdvisor
Awareness: The Perils and Opportunities of Reality by Anthony de Mello
How Full is Your Bucket? by Tom Rath and Donald O. Clifton
The Prophet by Kahlil Gibran
Choosing A Financial Advisor: Suitability Vs. Fiduciary Standards, Investopedia
MyAdvisor
Find a Local Advisor Near You, Independent Advisor Learning Center

SHOW NOTES

What are Peter’s thoughts on investing in gold? [06:33]
How does he feel about Bitcoin and cryptocurrency in general? [11:42]
An overview of how the stock market works for long-term and short-term investors, and why Peter is good at what he does. [14:59]
Money managers versus wealth managers and the debate between active and passive management. [23:15]
Peter shares his insights into alternative asset classes. [28:51]
What is Peter’s perspective on real estate investment, and why do a lot of people see it as a “safer” option than other investments? [34:46]
How does Peter feel about investing in art and collectibles? [40:10]
When illiquidity is a feature rather than a bug that protects against behavioral mistakes. [42:31]
How do you know when the market is worth waiting out, or if the end really is nigh? Perhaps the real question to ask: is your money worrying you more than it’s worth? [48:19]
Something even Peter hasn’t seen in 20 years of investing with over 30,000 clients. [58:09]
When is the risk of being out of the market greater than the risk of being in? [59:59]
The protective benefits of diversification. [1:02:13]
Why Peter advises aspiring investors not to expect more from the market than what their day job is giving them. [1:04:07]
What does underdiversifying look like, and is it possible to overdiversify? [1:05:41]
“Markets can remain irrational a lot longer than you and I can remain solvent.” [1:08:43]
How an investor’s style might differ depending on whether they’re using their personal or professional finances, and how much time they or their client can reasonably expect to be alive. [1:11:28]
Required and recommended reading for active and aspiring investors. [1:13:58]
What Peter considers his most worthwhile investment of time, money, and energy — and the hard but valuable lesson it taught him about supply and demand. [1:16:21]
What Peter sees as the biggest — and most common — mistake wealthy people make, and what he does to help them course correct. [1:20:02]
Books Peter has most gifted. [1:27:05]
Caution: In the United States, financial advisors aren’t always required by law to have your best interests at heart. Peter explains how you can know for sure. [1:29:20]
How do Peter and Creative Planning make money? [1:33:40]
What advice would Peter, now 48, give to his 30-year-old self? [1:34:43]
How does Peter help clients discover what to hone in on? [1:36:05]
What would Peter’s billboard say? [1:38:39]
The deceptively problematic characteristic of “busyness.” [1:40:09]
Closing thoughts. [1:41:29]

PEOPLE MENTIONED

Tony Robbins
Warren Buffett
John Arnold
LeBron James
Paul Tudor Jones
Howard Marks
Seth Klarman
Max Rockatansky
John Bogle
Ray Dalio
David Swensen
Charlie Munger
Benjamin Graham
Anthony de Mello
Kahlil Gibran
Bernard Madoff
Socrates
Mike Tyson

The 25 Most-Clicked Links from My Newsletter in 2018

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Photo by Matteo Pezzi

What do roughly 1.5 million subscribers to my newsletter care about most? Or put another way, if they voted with clicks, what most caught their attention in 2018?



The 25 items below are good candidates.

They are the most-clicked links from my weekly “5-Bullet Friday” newsletter from January to December 2018. The most popular item received 75,000+ clicks and the 25th most popular still had more than 42,000 clicks.

5-Bullet Friday is a short email of five bullet points, sent out each Friday, and it has become somewhat famous for crashing websites (AKA “the hug of death,” as one reader put it). Each newsletter describes the five coolest things I’ve found or explored that week, often including books, gadgets, experimental supplements, tricks from experts, and weird stuff from all over the world.  

Enjoy!

[And if the spirit moves you, you can subscribe to 5-Bullet Friday here to see why it has one of the highest open rates in the newsletter world.]

Here is the top-25 list, from most to least clicked:

#1:

Most popular post on Instagram —

“I just bought a 40×30 print of this…”

[75,637 clicks, published in January 26, 2018 newsletter]

#2:

What I’m reading —

“On Needing to Find Something to Worry About.” I expected a fluff piece based on the headline. Instead, I got an incredible (and incredibly short) essay that I saved to Evernote and now read several times per month. It won’t apply to everyone, but for some of you, like me, it will have a pronounced “Oh… fuck” realization that could change things. Once you read it, I bet you’ll be able to guess which specific line carried the most weight for me.

[67,704 clicks, published in November 23, 2018 newsletter]

#3:

Article I’m rereading —

Taming the Mammoth: Why You Should Stop Caring What Other People Think. This remains one of the most empowering articles I’ve read in recent years. It’s hilarious and amazing. For double trouble, pair it with my interview with the author, Tim Urban.

[62,618 clicks, published in September 28, 2018 newsletter]

#4:

Tote bag I decided to purchase, and I never buy tote bags —

School of Life bag, which reads “No one…” 

[61,941 clicks, published in October 26, 2018 newsletter]

#5:

Resource I’m excited to explore —

How to Configure Your iPhone to Work for You, Not Against You by Tony Stubblebine (@tonystubblebine). My team has already found this article extremely helpful.

[59,474 clicks, published in December 7, 2018 newsletter]

#6:

Device that’s saving my back and neck —

The Body Back Buddy, recommended by Dustin Moskovitz (@moskov), co-founder of Facebook, in Tribe of Mentors. I woke up one day this week barely able to turn my head to the right, causes unknown. 10 minutes with this gadget did the trick and released everything. Here’s what Dustin had to say in the book, in response to the “best purchase for

[57,125 clicks, published in June 29, 2018 newsletter]

#7:

Backpack I’m loving —

Peak Design Everyday Backpack 20L. This was given to me as a gift, and, truth be told, I let it sit for months. This is because I stupidly tossed the literature aside and tried to use it like a normal backpack, which it isn’t. One day, when I sat down and actually read the instructions (yes, read them), I was blown away and embarrassed that I’d waited so long. Most of the features are non-obvious and incredibly helpful. Note: I load everything from the sides and only use the top latch (as cool as it may be) for stuffing in a sweatshirt or workout clothing. This was the key decision after reading everything.

[56,971 clicks, published in November 23, 2018 newsletter]

#8:

Most popular post on Instagram —

My standard low-on-time breakfast for early morning flights. Don’t let travel be an excuse to eat garbage…

[56,765 clicks, published in March 30, 2018 newsletter]

#9:

Purchase I’m enjoying —

Sundale indoor/outdoor floor chair. I use this for morning meditation, and its ultra-lightweight design makes it a breeze to move and store. I face it out a bay window towards grass and trees, as I’ve started meditating with open eyes occasionally per instructions from Sam Harris.

[56,229 clicks, published in August 17, 2018 newsletter]

#10:

Sleep aid that I’m greatly enjoying —

Gunnar Optiks VER-06701 Vertex Computer glasses, smoke/amber. These glasses were recommended to me by one of my favorite doctors and thinkers, Peter Attia, MD, after I noticed him wearing them at a group dinner. Among other things, these glasses block blue light from screens and elsewhere, and I (like Peter) have found them to substantially speed up falling asleep and reduce tossing and turning. What makes this new? Unlike most options, these glasses don’t make you look like a complete idiot, and you’re more likely to get compliments instead of laughs.

[56,211 clicks, published in February 9, 2018 newsletter]

#11:

Most popular post on Instagram in the last few weeks, which I also use as a reminder for myself —

“My favorite coffee mug I’ve found in a while. Also my first non-beverage purchase from Starbucks.” [54,513 clicks, published in February 9, 2018 newsletter]

#12:

What I’m watching —

Dealt documentary (Amazon, other options) directed by
[53,993 clicks, published in April 20, 2018 newsletter]

#13:

What I’m reading (and going to listen to) —

The 50 Best Podcast Episodes of 2018. This is a spectacular list of great podcast episodes. The topics are varied, often unexpected, and hit the nail on the head for me in a bunch of cases. I’ll be listening to many podcasts I never would have found on my own.

[52,553 clicks, published in December 28, 2018 newsletter]

#14:

Most popular on social this week —

“ I’ve been telling my mom to spend more time barefoot on the grass… so she got me these .”

[51,079 clicks, published in August 3, 2018 newsletter]

#15:

Most popular post on Instagram —

25 Principles of Adult Behavior.

[47,627 clicks, published in February 16, 2018 newsletter]

#16:

The coolest upside-down truth I’ve found, which I’m putting here to revisit often —

Here it is…

[46,842 clicks, published in February 2, 2018 newsletter]

#17:

Most popular post on Instagram —

Sometimes the graffiti says it all…

[45,964 clicks, published in March 23, 2018 newsletter]

#18:

New person I’m following on social —

National Geographic photographer Frans Lanting on Instagram. Here is the pic and description that caught my attention.

[45,646 clicks, published in March 23, 2018 newsletter]

#19:

Most popular post on Instagram —

This is me for most of this week…

[45,349 clicks, published in March 2, 2018 newsletter]

#20:

App I’m using daily —

The new Sam Harris Waking Up meditation app. I absolutely love this app and have recommended it to nearly all of my closest friends. I was a beta tester for months and provided feedback, but I have no stake in it whatsoever. What makes it different? This app offers a guided meditation progression that builds multiple skills as you move from one class to the next. It’s a logical sequence, instead of a collection of ad-hoc readings. Sam has succeeded at producing a world-class program for mind training, IMHO.

[43,592 clicks, published in October 5, 2018 newsletter]

#21:

Genius video I’m once again sending to friends (I never get tired of this one) —

Apple Engineer Talks About New Macbook Pro.

[43,578 clicks, published in September 7, 2018 newsletter]

#22:

Gadget I’m experimenting with —

DCT ProFlex for strengthening, prehabbing, and rehabbing my lower legs and ankles, especially the right ankle, in which I recently tore two ligaments (disgusting pics here). I learned about this device from the amazing Ryan Flaherty, nicknamed the “savant of speed.”

[42,534 clicks, published in March 23, 2018 newsletter]

#23:

P.S. — If you’re looking for an OUTSTANDING book to read, here is one to order. I got an advanced copy, and my quote on Twitter says it all: “Not to sound like a mullet-wearing Long Island boy (which I’ve been), but Michael Pollan’s new book is going to make a HUGE fucking impact. Mark my words: tide shift.”

[42,506 clicks, published in February 23, 2018 newsletter]

#24:

Article I’m reading —

“How to win the Tour de France, in one image” (Fast Company). I was led to this piece by Dr. Peter Attia (@PeterAttiaMD), and here’s a short preview: “Practically speaking, the energy savings is the equivalent of pedaling 9.3 miles per hour while actually flying down the road at 33.5 miles per hour.”

[42,431 clicks, published in July 27, 2018 newsletter]

#25:

What I’m reading —

“The Risk of Discovery” essay by Paul Graham (@paulg), which is only a few paragraphs long. It’s worth rereading a few times.

[42,068 clicks, published in June 1, 2018 newsletter]

###

Want to see more? Take 10 seconds and sign up for 5-Bullet Friday here. Each Friday, you’ll get a short email of five bullets, sending you off to your weekend with fun and useful things to ponder and try. If you dislike it, it’s easy to unsub. Easy peasy, lemon squeezy.

Greg McKeown — How to Master Essentialism (#355)

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“If you don’t prioritize your life, someone else will.” — Greg McKeown

Greg McKeown (@GregoryMcKeown) is the author of the New York Times bestseller, Essentialism: The Disciplined Pursuit of Less and the founder of McKeown, Inc, a company with a mission to teach Essentialism to millions of people around the world. Their clients include Adobe, Apple, Airbnb, Cisco, Google, Facebook, Pixar, Salesforce.com, Symantec, Twitter, VMware and Yahoo!, among others. Greg is an accomplished public speaker and has spoken to hundreds of audiences around the world, and in 2012, he was named a Young Global Leader by the World Economic Forum.

Please enjoy!

Listen to the episode on Apple Podcasts, Spotify, Stitcher, Overcast, or on your favorite podcast platform. 

[image error] [image error] [image error] #355: Greg McKeown — How to Master Essentialism
https://rss.art19.com/episodes/902742a8-53d8-4125-b64d-139595e6bfe3.mp3Download

Listen to it on Apple Podcasts.
Stream by clicking here.
Download as an MP3 by right-clicking here and choosing “save as.”

Want to hear two chapters from Essentialism read by Greg himself? — Listen here to learn more about saying “no” gracefully and cutting losses in the aftermath of a premature “yes.” (Stream below or right-click here to download):

#328: How to Say “No” Gracefully and Uncommithttps://rss.art19.com/episodes/1f1a99a8-c998-4983-9b19-7de1148d6335.mp3Download

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QUESTION(S) OF THE DAY: What was your favorite quote or lesson from this episode? Please let me know in the comments.

Scroll below for links and show notes…

SELECTED LINKS FROM THE EPISODE

Connect with Greg McKeown:

Website | Twitter

Essentialism: The Disciplined Pursuit of Less by Greg McKeown
Essentialism and the Paradox of Success as a Financial Advisor by Michael Kitces
How Will the “Endowment Effect” Affect You? by Mariana Bockarova, Psychology Today
What It Feels Like to Be a Stormtrooper by Ralph Morse, Great Big Story
Jerry Before Seinfeld
Who Said “Worrying Is Like Praying for Something That You Don’t Want to Happen?” by Barry Popik
The Price of Everything (Documentary)
Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich by Timothy Ferriss
The Planning Fallacy Can Derail a Project’s Best Intentions by Yael Grushka-Cockayne, The Washington Post
Why You Start Things You’ll Never Finish by Tim Herrera, The New York Times
Boundaries: When to Say Yes, How to Say No To Take Control of Your Life by Henry Cloud and John Townsend
The Effective Executive: The Definitive Guide to Getting the Right Things Done by Peter F. Drucker
Creativity: Flow and the Psychology of Discovery and Invention by Mihaly Csikszentmihalyi
Quarterly Personal Offsite Meetings by Dennis Kennedy
What is a Clearness Committee? via Wikipedia
The Presidential Biographies: John Adams, Mornings on Horseback, and Truman by David McCullough
The Listener by James Christensen

SHOW NOTES

The fool’s bargain Greg McKeown made that led to the genesis of Essentialism. [07:38]
Not a business phenomenon, but a human phenomenon. [09:51]
Using the Endowment Effect to question and reframe priorities that may no longer serve us (and not wind up with stormtrooper outfits in our closets). [12:52]
Greg walks me through an exercise from the Designing Life, Essentially course he co-created at Stanford, which prompts me to talk about potential directions I’ve been mulling over for future projects. [22:30]
“Don’t write a rubbish book” is an appropriate mantra to address a fear Greg and I share. But what might be a more productive mantra? [36:26]
If I can talk myself into writing the next book I want to write, what’s ideally the first phase of the process, what’s my biggest hurdle to overcome, and how can I apply Essentialism to move the project forward? [42:58]
Moving on to phase two and finding the one decision that removes a thousand decisions: what non-essentials am I willing to give up in the process of writing my next book? Which ones are currently overtaxing my resources? [49:00]
Making allowances for the Planning Fallacy — the constant underestimation of time and other costs of getting things done (even when we should know better). [54:43]
Why taking ownership of someone else’s problems probably does neither party any favors in the long run. [57:56]
Separating decisions from relationships to avoid committing to the unsustainable — while minimizing potential damage to these relationships. [1:01:27]
When his assistant took a month off and Greg overcommitted himself, he devised these three rules to avoid taking on “floor angel” projects. [1:09:29]
When processing a “yes” or “no” to a request, don’t forget about your third option: negotiation. [1:15:30]
How I’ll know when the essentialist system devised to streamline my next project is working. [1:16:26]
What well-reasoned, polite declines look like — with examples from Peter Drucker and Warren Buffett. [1:17:32]
A challenge for Type A personalities: say no to an opportunity so you can take a nap. [1:26:29]
The strategic insights and benefits discovered by taking personal quarterly offsites. [1:28:02]
Where should a personal quarterly offsite take place, and how much time should it take? [1:33:28]
What we learn about ourselves by taking pause to consider the legacies — both good and bad — of generations past and future. [1:34:40]
What makes a good design partner? What makes a bad design partner? [1:41:01]
Gaining perspective with a design partner using a Quaker technique. [1:47:02]
Literature that helps Greg find his center. [1:48:27]
The role of prayer in Greg’s life — and how he can tell if it’s working as intended. [1:50:57]
Why is it that we so often feel we do not have — or forget that we have — choices? What’s actually happening when we decide not to make a choice? [1:56:05]
What would Greg’s billboard say? [2:04:54]
Parting thoughts. [2:07:42]

PEOPLE MENTIONED

Jim Collins
Andrew Grove
Carl R. Rogers
Jerry Seinfeld
Henry Cloud
Oprah Winfrey
Peter Drucker
Mihaly Csikszentmihalyi
Warren Buffett
Tony Robbins
Steve Jobs
John Adams
David McCullough
John Quincy Adams
James Christensen
Gautama Buddha
William Shakespeare
Lao Tzu

Forget New Year’s Resolutions and Conduct a ‘Past Year Review’ Instead

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I’m often asked about how I approach New Year’s resolutions. The truth is that I no longer approach them at all, even though I did for decades. Why the change? I have found “past year reviews” (PYR) more informed, valuable, and actionable than half-blindly looking forward with broad resolutions. I did my first PYR after a mentor’s young daughter died of cancer on December 31st, roughly eight years ago, and I’ve done it every year since. It takes 30-60 minutes and looks like this:

Grab a notepad and create two columns: POSITIVE and NEGATIVE.
Go through your calendar from the last year, looking at every week.
For each week, jot down on the pad any people or activities or commitments that triggered peak positive or negative emotions for that month. Put them in their respective columns.
Once you’ve gone through the past year, look at your notepad list and ask, “What 20% of each column produced the most reliable or powerful peaks?”
Based on the answers, take your “positive” leaders and schedule more of them in the new year. Get them on the calendar now! Book things with friends and prepay for activities/events/commitments that you know work. It’s not real until it’s in the calendar. That’s step one. Step two is to take your “negative” leaders, put “NOT-TO-DO LIST” at the top, and put them somewhere you can see them each morning for the first few weeks of 2019. These are the people and things you *know* make you miserable, so don’t put them on your calendar out of obligation, guilt, FOMO, or other nonsense.

That’s it! If you try it, let me know how it goes.

And just remember: it’s not enough to remove the negative. That simply creates a void. Get the positive things on the calendar ASAP, lest they get crowded out by the bullshit and noise that will otherwise fill your days. Good luck and godspeed!

How to Generate 8-Figure Revenue at Age 21 (Or Any Age) — Real 4-Hour Workweek Case Studies (#354)

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“I think the role of the entrepreneur in the world is to find ways to do things better or more efficiently and then try to do that as many times over with the help of other people.” — Santiago Nestares

Benedict Dohmen and Santiago Nestares of Benitago Group, both 21, met as computer science students at Dartmouth College. Both worked very long hours in the library and suffered from back pain. They began collaborating on a prototype for a product that ended up being called the Supportiback, gathering feedback from members of the Dartmouth community, including a local hospital president and professors and students studying engineering and medicine.

They launched the product on Amazon in the UK, and when it seemed their first small order was in danger of selling out quickly, they arranged financing from their supplier and were off and running. Since then, they’ve entered the US market on Amazon, and are on track for nine-figure revenue in 2019. They have introduced 120 consumer products, and are trying to become an alternative to big consumer products companies through a strategy of applying their successful scale-up strategies to brands they acquire.

Also joining us in this special episode is Elaine Pofeldt (@elainepofeldt), an independent journalist and speaker who specializes in careers and entrepreneurship. She is the author of The Million-Dollar, One-Person Business: Make Great Money. Work the Way You Like. Have the Life You Want, in which she looks at how entrepreneurs are scaling to $1 million in revenue prior to hiring employees.

Please enjoy!

Listen to the episode on Apple Podcasts, Spotify, Stitcher, Overcast, or on your favorite podcast platform. 

[image error] [image error] [image error] #354: Real 4-Hour Workweek Case Studies — How to Generate 8-Figure Revenue at Age 21 (Or Any Age)https://rss.art19.com/episodes/6061dce3-08dc-4db8-bfd8-24e2013ad875.mp3Download

Listen to it on Apple Podcasts.
Stream by clicking here.
Download as an MP3 by right-clicking here and choosing “save as.”

Want to hear another case study episode? — Listen to my conversation with SpyGuy’s Allen Walton and learn how he made the switch from overworked and under-appreciated employee to seven-figure entrepreneur. (Stream below or right-click here to download):

#351: Real 4-Hour Workweek Case Studies — Allen Walton and SpyGuy, The Path to Seven Figureshttps://rss.art19.com/episodes/b35ef9cb-1f4e-478e-9c54-4497ab93ee5e.mp3Download

This podcast is brought to you by Peloton, which has become a staple of my daily routine. I picked up this bike after seeing the success of my friend Kevin Rose, and I’ve been enjoying it more than I ever imagined. Peloton is an indoor cycling bike that brings live studio classes right to your home. No worrying about fitting classes into your busy schedule or making it to a studio with a crazy commute.

New classes are added every day, and this includes options led by elite NYC instructors in your own living room. You can even live stream studio classes taught by the world’s best instructors, or find your favorite class on demand.

Peloton is offering listeners to this show a special offer. Visit onepeloton.com and enter the code TIM at checkout to receive $100 off accessories with your Peloton bike purchase. This is a great way to get in your workouts, or an incredible gift. Again, that’s onepeloton.com and enter the code TIM.

This episode is also brought to you by Charlotte’s Web, which makes a CBD oil, a hemp extract, that has become one of my go-to tools. Charlotte’s Web won’t get you high, but it does have some pretty powerful benefits, and it works with your body’s existing endocannabinoid system. Some of the most common uses are for relief from everyday stressors, help in supporting restful sleep, and to bring about a sense of calm and focus.

Visit cwhemp.com/tim to take a quick quiz, which will determine the best product for your lifestyle. Charlotte’s Web is also offering listeners of this podcast 10% off with discount code TIM.

QUESTION(S) OF THE DAY: What was your favorite quote or lesson from this episode? Please let me know in the comments.

Scroll below for links and show notes…

SELECTED LINKS FROM THE EPISODE

Connect with Benedict Dohmen and Santiago Nestares:

Benitago Group | Benedict at LinkedIn | Santiago at LinkedIn

Connect with Elaine Pofeldt:

Website | Twitter

Back Pain Led These 21-Year-Olds to Create a Multi-Million-Dollar Business by Elaine Pofeldt, Forbes
Supportiback at Amazon
The Boron Letters by Gary C. Halbert and Bond Halbert
Ca$hvertising: How to Use More than 100 Secrets of Ad-Agency Psychology to Make Big Money Selling Anything to Anyone by Drew Eric Whitman
An Illustrated History of the iPod and Its Massive Impact by Leander Kahney, Cult of Mac
Amazon Sponsored Products Masterclass With Brian Johnson and Brian Burt
Fulfillment by Amazon
The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses by Eric Ries
What is a Minimum Viable Product (MVP)? by Ash Maurya, Medium
Sellics
CashCowPro
Splitly
Python Tutorial: Learn Python For Free, Codecademy
Nike Ad Too Violent for New Zealand, Ad Age
Getting Past No: Negotiating in Difficult Situations by William Ury
Getting to Yes: Negotiating Agreement Without Giving In by Roger Fisher and William L. Ury
The 4-Hour Workweek by Timothy Ferriss
The Pareto Principle (80/20 Rule), Investopedia
Warren Buffett’s “2 List” Strategy: How to Maximize Your Focus and Master Your Priorities by James Clear
Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger by Charles T. Munger
The Psychology of Human Misjudgement Full Speech, Harvard 1995 by Charlie Munger
Seeking Wisdom: From Darwin to Munger by Peter Bevelin
USC Commencement Address by Charlie Munger
Berkshire Hathaway Inc. Shareholder Letters by Warren Buffett
Dartmouth-Hitchcock
Alibaba
1688
A Beginners Guide to Parkinson’s Law: How to Do More Stuff by Giving Yourself Less Time by Joel Runyon, Impossible
The Kite Runner by Khaled Hosseini
The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results by Gary Keller and Jay Papasan
Upwork
Freelancer
FreeeUp
16 Essential Steps to Writing Standard Operating Procedures (SOPs) by Adam Henshall, Process Street
Slack
Who: Solve Your #1 Problem by Geoff Smart and Randy Street
Topgrading: The Proven Hiring and Promoting Method That Turbocharges Company Performance by Bradford D. Smart, Ph.D.
Work Rules!: Insights from Inside Google That Will Transform How You Live and Lead by Laszlo Bock
How to Build and Manage Teams by Vinod Khosla and Anu Hariharan, Y Combinator and Stanford
Hiring and Culture with Patrick and John Collison and Ben Silbermann, Y Combinator and Stanford
Consumer Packaged Goods (CPG), Investopedia
High Velocity Hiring: How to Hire Top Talent in an Instant by Scott Wintrip
The Art of Thinking Clearly by Rolf Dobelli
The Art of the Good Life: 52 Surprising Shortcuts to Happiness, Wealth, and Success by Rolf Dobelli
How to Measure Anything: Finding the Value of Intangibles in Business by Douglas W. Hubbard

SHOW NOTES

How did Benedict Dohmen and Santiago Nestares become a team? [09:24]
At what point did Ben and Santi go from complaining about the common problem they were experiencing to creating a business centered around relieving it? [11:20]
Getting started in the world of manufacturing with a budget of (just under) $2,000. [14:10]
Entrepreneurship and copywriting preparations Ben and Santi made during the 30 days they waited for their first shipment to arrive. [16:09]
How did Ben and Santi divide their skills and labor to optimize the time spent on getting the business off the ground? [20:27]
Ben and Santi describe what happened when the product finally arrived — and they sold a quarter of their inventory on day one. [23:33]
How did Ben and Santi adapt to the situation once it became clear they were going to sell out of the product on hand? What did they do right — and wrong? [25:05]
Using the MVP (Minimum Viable Product) method to turn otherwise disheartening and often business-killing failure into feedback. [27:38]
Third-party tools Ben and Santi have used to gauge metrics, track sales, and split test while selling on Amazon. [30:59]
Why did Ben and Santi choose Amazon as their first entrepreneurial platform? [34:13]
Aside from MVP, how else do Ben and Santi generate actionable feedback from an online audience resistant to interaction? [36:14]
Have Ben and Santi found the information gathered in the European market (where they began) directly relevant to the US market? Looking back, would it have been easier to start in the US? [41:20]
Santi says he and Ben went into business with the “mentality of removing obstacles rather than coming up with obstacles” — how has this translated into solving real problems? [46:01]
Santi talks about negotiating credit terms when it was time to place the bigger second order. [46:57]
Where did Ben and Santi learn how to negotiate? [50:51]
The important decisions — both good and bad — that shaped how business was done after this first success. [51:34]
How do the lessons of Warren Buffett and Charlie Munger inform Ben and Santi’s partnership? [54:41]
Rewinding the story a bit, how did Ben and Santi evaluate the feedback they got from Supportiback prototype users at Dartmouth — and how did this feedback modify the development of what became their three key products? [59:36]
How did Ben and Santi vet their manufacturer? [1:04:58]
As full-time college students at the time, how did Ben and Santi find the time to do all of this research and development? [1:09:08]
What catalyzed Ben and Santi’s development of products beyond their initial offerings? How did they decide on the number of products they planned on launching? [1:16:34]
Does emotion ever intervene in Ben and Santi’s business decisions? [1:18:08]
Where do Ben and Santi hire help when they can’t do everything on their own, how do they coordinate their efforts, and how do they vet this help? [1:19:41]
The process of scaling up by taking cues from the Austin Consumer Packaged Goods (CPG) community. [1:31:23]
Weighing the pros and cons of acquiring profitable products and building new ones from scratch — and points in between. [1:35:43]
What motivates Ben and Santi’s entrepreneurial ambitions, and what do they hope to see their company doing in the future? [1:38:22]
Personal entrepreneurial heroes. [1:42:58]
Books and resources currently in rotation. [1:44:56]
What advice would Ben and Santi give listeners who want to follow their lead but don’t have a similar background in mathematics or computer science? [1:49:17]
Parting thoughts. [1:50:57]

PEOPLE MENTIONED

Kelly Starrett
Brian Johnson
Eric Ries
Warren Buffett
Charlie Munger
Goldilocks
Vilfredo Pareto
Khaled Hosseini
Gary Kelly
Laszlo Bock
Vinod Khosla
Ben Silbermann
Patrick Collison
John Collison
Paul English
Brian Goldberg
Paul Graham
Sam Altman
Rolf Dobelli
Kathy Sierra
Nick Ganju

Real 4-Hour Workweek Case Studies — How to Generate 8-Figure Revenue at Age 21 (Or Any Age) (#354)

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“I think the role of the entrepreneur in the world is to find ways to do things better or more efficiently and then try to do that as many times over with the help of other people.” — Santiago Nestares

Benedict Dohmen and Santiago Nestares of Benitago Group, both 21, met as computer science students at Dartmouth College. Both worked very long hours in the library and suffered from back pain. They began collaborating on a prototype for a product that ended up being called the Supportiback, gathering feedback from members of the Dartmouth community, including a local hospital president and professors and students studying engineering and medicine.

They launched the product on Amazon in the UK, and when it seemed their first small order was in danger of selling out quickly, they arranged financing from their supplier and were off and running. Since then, they’ve entered the US market on Amazon, and are on track for nine-figure revenue in 2019. They have introduced 120 consumer products, and are trying to become an alternative to big consumer products companies through a strategy of applying their successful scale-up strategies to brands they acquire.

Also joining us in this special episode is Elaine Pofeldt (@elainepofeldt), an independent journalist and speaker who specializes in careers and entrepreneurship. She is the author of The Million-Dollar, One-Person Business: Make Great Money. Work the Way You Like. Have the Life You Want, in which she looks at how entrepreneurs are scaling to $1 million in revenue prior to hiring employees.

Please enjoy!

Listen to the episode on Apple Podcasts, Spotify, Stitcher, Overcast, or on your favorite podcast platform. 

[image error] [image error] [image error] #354: Real 4-Hour Workweek Case Studies — How to Generate 8-Figure Revenue at Age 21 (Or Any Age)
https://rss.art19.com/episodes/6061dce3-08dc-4db8-bfd8-24e2013ad875.mp3Download

Listen to it on Apple Podcasts.
Stream by clicking here.
Download as an MP3 by right-clicking here and choosing “save as.”

Want to hear another case study episode? — Listen to my conversation with SpyGuy’s Allen Walton and learn how he made the switch from overworked and under-appreciated employee to seven-figure entrepreneur. (Stream below or right-click here to download):

#351: Real 4-Hour Workweek Case Studies — Allen Walton and SpyGuy, The Path to Seven Figureshttps://rss.art19.com/episodes/b35ef9cb-1f4e-478e-9c54-4497ab93ee5e.mp3Download

This podcast is brought to you by Peloton, which has become a staple of my daily routine. I picked up this bike after seeing the success of my friend Kevin Rose, and I’ve been enjoying it more than I ever imagined. Peloton is an indoor cycling bike that brings live studio classes right to your home. No worrying about fitting classes into your busy schedule or making it to a studio with a crazy commute.

New classes are added every day, and this includes options led by elite NYC instructors in your own living room. You can even live stream studio classes taught by the world’s best instructors, or find your favorite class on demand.

Peloton is offering listeners to this show a special offer. Visit onepeloton.com and enter the code TIM at checkout to receive $100 off accessories with your Peloton bike purchase. This is a great way to get in your workouts, or an incredible gift. Again, that’s onepeloton.com and enter the code TIM.

This episode is also brought to you by Charlotte’s Web, which makes a CBD oil, a hemp extract, that has become one of my go-to tools. Charlotte’s Web won’t get you high, but it does have some pretty powerful benefits, and it works with your body’s existing endocannabinoid system. Some of the most common uses are for relief from everyday stressors, help in supporting restful sleep, and to bring about a sense of calm and focus.

Visit cwhemp.com/tim to take a quick quiz, which will determine the best product for your lifestyle. Charlotte’s Web is also offering listeners of this podcast 10% off with discount code TIM.

QUESTION(S) OF THE DAY: What was your favorite quote or lesson from this episode? Please let me know in the comments.

Scroll below for links and show notes…

SELECTED LINKS FROM THE EPISODE

Connect with Benedict Dohmen and Santiago Nestares:

Benitago Group | Benedict at LinkedIn | Santiago at LinkedIn

Connect with Elaine Pofeldt:

Website | Twitter

Back Pain Led These 21-Year-Olds to Create a Multi-Million-Dollar Business by Elaine Pofeldt, Forbes
Supportiback at Amazon
The Boron Letters by Gary C. Halbert and Bond Halbert
Ca$hvertising: How to Use More than 100 Secrets of Ad-Agency Psychology to Make Big Money Selling Anything to Anyone by Drew Eric Whitman
An Illustrated History of the iPod and Its Massive Impact by Leander Kahney, Cult of Mac
Amazon Sponsored Products Masterclass With Brian Johnson and Brian Burt
Fulfillment by Amazon
The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses by Eric Ries
What is a Minimum Viable Product (MVP)? by Ash Maurya, Medium
Sellics
CashCowPro
Splitly
Python Tutorial: Learn Python For Free, Codecademy
Nike Ad Too Violent for New Zealand, Ad Age
Getting Past No: Negotiating in Difficult Situations by William Ury
Getting to Yes: Negotiating Agreement Without Giving In by Roger Fisher and William L. Ury
The 4-Hour Workweek by Timothy Ferriss
The Pareto Principle (80/20 Rule), Investopedia
Warren Buffett’s “2 List” Strategy: How to Maximize Your Focus and Master Your Priorities by James Clear
Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger by Charles T. Munger
The Psychology of Human Misjudgement Full Speech, Harvard 1995 by Charlie Munger
Seeking Wisdom: From Darwin to Munger by Peter Bevelin
USC Commencement Address by Charlie Munger
Berkshire Hathaway Inc. Shareholder Letters by Warren Buffett
Dartmouth-Hitchcock
Alibaba
1688
A Beginners Guide to Parkinson’s Law: How to Do More Stuff by Giving Yourself Less Time by Joel Runyon, Impossible
The Kite Runner by Khaled Hosseini
The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results by Gary Keller and Jay Papasan
Upwork
Freelancer
FreeeUp
16 Essential Steps to Writing Standard Operating Procedures (SOPs) by Adam Henshall, Process Street
Slack
Who: Solve Your #1 Problem by Geoff Smart and Randy Street
Topgrading: The Proven Hiring and Promoting Method That Turbocharges Company Performance by Bradford D. Smart, Ph.D.
Work Rules!: Insights from Inside Google That Will Transform How You Live and Lead by Laszlo Bock
How to Build and Manage Teams by Vinod Khosla and Anu Hariharan, Y Combinator and Stanford
Hiring and Culture with Patrick and John Collison and Ben Silbermann, Y Combinator and Stanford
Consumer Packaged Goods (CPG), Investopedia
High Velocity Hiring: How to Hire Top Talent in an Instant by Scott Wintrip
The Art of Thinking Clearly by Rolf Dobelli
The Art of the Good Life: 52 Surprising Shortcuts to Happiness, Wealth, and Success by Rolf Dobelli
How to Measure Anything: Finding the Value of Intangibles in Business by Douglas W. Hubbard

SHOW NOTES

How did Benedict Dohmen and Santiago Nestares become a team? [09:24]
At what point did Ben and Santi go from complaining about the common problem they were experiencing to creating a business centered around relieving it? [11:20]
Getting started in the world of manufacturing with a budget of (just under) $2,000. [14:10]
Entrepreneurship and copywriting preparations Ben and Santi made during the 30 days they waited for their first shipment to arrive. [16:09]
How did Ben and Santi divide their skills and labor to optimize the time spent on getting the business off the ground? [20:27]
Ben and Santi describe what happened when the product finally arrived — and they sold a quarter of their inventory on day one. [23:33]
How did Ben and Santi adapt to the situation once it became clear they were going to sell out of the product on hand? What did they do right — and wrong? [25:05]
Using the MVP (Minimum Viable Product) method to turn otherwise disheartening and often business-killing failure into feedback. [27:38]
Third-party tools Ben and Santi have used to gauge metrics, track sales, and split test while selling on Amazon. [30:59]
Why did Ben and Santi choose Amazon as their first entrepreneurial platform? [34:13]
Aside from MVP, how else do Ben and Santi generate actionable feedback from an online audience resistant to interaction? [36:14]
Have Ben and Santi found the information gathered in the European market (where they began) directly relevant to the US market? Looking back, would it have been easier to start in the US? [41:20]
Santi says he and Ben went into business with the “mentality of removing obstacles rather than coming up with obstacles” — how has this translated into solving real problems? [46:01]
Santi talks about negotiating credit terms when it was time to place the bigger second order. [46:57]
Where did Ben and Santi learn how to negotiate? [50:51]
The important decisions — both good and bad — that shaped how business was done after this first success. [51:34]
How do the lessons of Warren Buffett and Charlie Munger inform Ben and Santi’s partnership? [54:41]
Rewinding the story a bit, how did Ben and Santi evaluate the feedback they got from Supportiback prototype users at Dartmouth — and how did this feedback modify the development of what became their three key products? [59:36]
How did Ben and Santi vet their manufacturer? [1:04:58]
As full-time college students at the time, how did Ben and Santi find the time to do all of this research and development? [1:09:08]
What catalyzed Ben and Santi’s development of products beyond their initial offerings? How did they decide on the number of products they planned on launching? [1:16:34]
Does emotion ever intervene in Ben and Santi’s business decisions? [1:18:08]
Where do Ben and Santi hire help when they can’t do everything on their own, how do they coordinate their efforts, and how do they vet this help? [1:19:41]
The process of scaling up by taking cues from the Austin Consumer Packaged Goods (CPG) community. [1:31:23]
Weighing the pros and cons of acquiring profitable products and building new ones from scratch — and points in between. [1:35:43]
What motivates Ben and Santi’s entrepreneurial ambitions, and what do they hope to see their company doing in the future? [1:38:22]
Personal entrepreneurial heroes. [1:42:58]
Books and resources currently in rotation. [1:44:56]
What advice would Ben and Santi give listeners who want to follow their lead but don’t have a similar background in mathematics or computer science? [1:49:17]
Parting thoughts. [1:50:57]

PEOPLE MENTIONED

Kelly Starrett
Brian Johnson
Eric Ries
Warren Buffett
Charlie Munger
Goldilocks
Vilfredo Pareto
Khaled Hosseini
Gary Kelly
Laszlo Bock
Vinod Khosla
Ben Silbermann
Patrick Collison
John Collison
Paul English
Brian Goldberg
Paul Graham
Sam Altman
Rolf Dobelli
Kathy Sierra
Nick Ganju

Patrick Collison — CEO of Stripe (#353)

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Credit: O Hello Media, Eric Ananmalay

“If people around you don’t think what you’re doing is a bit strange, maybe it’s not strange enough.” — Patrick Collison

Patrick Collison (@patrickc) is chief executive officer and co-founder of Stripe, a technology company that builds economic infrastructure for the internet.

After experiencing firsthand how difficult it was to set up an online business, Patrick and his brother John started Stripe in 2010. Their goal was to make accepting payments on the internet simpler and more inclusive. Today, Stripe powers millions of online businesses around the world.

Prior to Stripe, Patrick co-founded Auctomatic, which was acquired by Live Current Media for $5 million in March 2008. In 2016, he was named a Presidential Ambassador for Global Entrepreneurship by President Obama. Originally from Limerick, Ireland, Patrick now lives in San Francisco where Stripe is headquartered.

Also, as you can tell from seeing just a selected segment of his reading list shared in the show notes below, he’s one of the most well-read people I know. Please enjoy!

Listen to the episode on Apple Podcasts, Spotify, Stitcher, Overcast, or on your favorite podcast platform. 

[image error] [image error] [image error] #353: Patrick Collison — CEO of Stripe
https://rss.art19.com/episodes/1869f87a-edca-4737-b3fe-cad55c90559f.mp3Download

Listen to it on Apple Podcasts.
Stream by clicking here.
Download as an MP3 by right-clicking here and choosing “save as.”

Want to hear my interview with one of the founders of Duolingo? — Listen to my interview with Luis Von Ahn, the co-founder of Duolingo, in which we discuss what 2-3 books and resources he’d recommend to entrepreneurs, language learning tips, early mentors and key lessons learned, and how to recruit and vet technical talent (stream below or right-click here to download):

#135: Luis Von Ahn on Learning Languages, Building Companies, and Changing the Worldhttps://rss.art19.com/episodes/5d9f23aa-acd7-4c1b-a960-dd258015305d.mp3Download

This podcast is brought to you by 99designs, the global creative platform that makes it easy for designers and clients to work together create designs they love. Its creative process has become the go-to solution for businesses, agencies, and individuals, and I have used it for years to help with display advertising and illustrations and to rapid prototype the cover for The Tao of Seneca. Whether your business needs a logo, website design, business card, or anything you can imagine, check out 99designs.

You can work with multiple designers at once to get a bunch of different ideas, or hire the perfect designer for your project based based on their style and industry specialization. It’s simple to review concepts and leave feedback so you’ll end up with a design that you’re happy with. Click this link and get a free $99 upgrade.

This podcast is also brought to you by Athletic Greens. I get asked all the time, “If you could only use one supplement, what would it be?” My answer is, inevitably, Athletic Greens. It is my all-in-one nutritional insurance. I recommended it in The 4-Hour Body and did not get paid to do so. As a listener of The Tim Ferriss Show, you’ll get a free 20-count travel pack (valued at $100) with your first order at AthleticGreens.com/Tim.

QUESTION(S) OF THE DAY: What was your favorite quote or lesson from this episode? Please let me know in the comments.

Scroll below for links and show notes…

SELECTED LINKS FROM THE EPISODE

Connect with Patrick Collison:

Stripe | Website | Twitter

Choice Selections from Patrick’s Reading List:

The Rise and Fall of American Growth: The U.S. Standard of Living since the Civil War by Robert J. Gordon
The MindñBody Problem by Jonathan Westphal
Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger by Charles T. Munger
Something Incredibly Wonderful Happens: Frank Oppenheimer and His Astonishing Exploratorium by K.C. Cole
Hard Landing: The Epic Contest for Power and Profits That Plunged the Airlines into Chaos by Thomas Petzinger Jr.
The Dream Machine by M. Mitchell Waldrop
Age of Ambition: Chasing Fortune, Truth, and Faith in the New China by Evan Osnos
If the Universe Is Teeming with Aliens … WHERE IS EVERYBODY?: Seventy-Five Solutions to the Fermi Paradox and the Problem of Extraterrestrial Life by Stephen Webb
The Beginning of Infinity: Explanations That Transform the World by David Deutsch
The Paris Review Interviews, I: 16 Celebrated Interviews by Philip Gourevitch and The Paris Review
Mindstorms: Children, Computers, and Powerful Ideas by Seymour Papert
Out of Mao’s Shadow: The Struggle for the Soul of a New China by Philip P. Pan
Democracy in America: Abridged Edition by Alexis de Tocqueville
Metamagical Themas: Questing for the Essence of Mind and Pattern by Douglas Hofstadter
Dancing in the Glory of Monsters: The Collapse of the Congo and the Great War of Africa by Jason Stearns
Art of Doing Science and Engineering: Learning to Learn by Richard W. Hamming
A Pattern Language: Towns, Buildings, Construction by Christopher Alexander, Sara Ishikawa, Murray Silverstein, Max Jacobson, Ingrid Fiksdahl-King, and Shlomo Angel
Paradigms of Artificial Intelligence Programming: Case Studies in Common Lisp by Peter Norvig
Anthropic Bias: Observation Selection Effects in Science and Philosophy by Nick Bostrom




Y Combinator
Auctomatic
District
The Untold Story of Stripe, the Secretive $20 Bn Startup Driving Apple, Amazon, and Facebook by Stephen Armstrong, Wired UK
Center for Science and the Imagination at Arizona State University
Hieroglyph: Stories and Visions for a Better Future Edited by Ed Finn and Kathryn Cramer
ARPANET and the Origins of the Internet, DARPA
Alfred P. Sloan Foundation
Xerox PARC
What is Brownian Motion?, The Fuse School
“We Cannot Predict the Future, But We Can Invent It” by Garson O’Toole, Quote Investigator
Facebook, Apple, Amazon, Netflix and Google (FAANG), Wikipedia
Introducing Open Salaries at Buffer: Our Transparent Formula and All Individual Salaries by Joel Gascoigne, Buffer
What is Holacracy?, holacracy.org
Holacracy and Self-Organization, Zappos Insights
Medium Drops Holacracy: How We Dealt with Their Challenges at Springest in the past Three Years by Ruben Timmerman, Medium
A Collection of Paul Graham’s Essays
Hackers & Painters: Big Ideas from the Computer Age by Paul Graham
Maker’s Schedule, Manager’s Schedule by Paul Graham
Do Things That Don’t Scale by Paul Graham
Slashdot
Hacker News
Exploring Python Using GDB by Evan Broder, Stripe
by Greg Brockman, Stripe CTO, on Quora
Hedonic Treadmill by James Chen, Investopedia
The Black Swan: The Impact of the Highly Improbable by Nassim Nicholas Taleb
Live Current Media
“Not All Those Who Wander Are Lost.” — J.R.R. Tolkien, The Lord of the Rings
Lough Derg House and The Lake Cafe
Surely the Smartest Redhead in Ireland — at 16 by Miriam Lord, The Independent, Ireland
ISO 9000 Series of Standards, ASQ
The Advice I’d Give Past Me by Patrick Collison
Asperger/Autism Spectrum Fact Sheet, The Asperger/Autism Network
Amazon Web Services (AWS)
Patrick’s Recommended People List
Patrick’s Recommended Twitter Reading List
Keeping Up with the Kardashians
Happiness and Life Satisfaction by Esteban Ortiz-Ospina and Max Roser, Our World in Data
Are the Amish Unhappy? Super Happy? Just Meh? by Scott Alexander, Slate Star Codex
These Are the World’s Happiest Places by Dan Buettner, National Geographic
“Gross National Happiness Is a Lie”: Oakland’s Bhutanese Refugees Speak Out by Jason Ditzian, The Bold Italic
How Asia Works: Success and Failure in the World’s Most Dynamic Region by Joe Studwell
How the World Works by James Fallows, The Atlantic
History of Japan in Nine Minutes by Bill Wurtz
How to be More Productive by Using the “Eisenhower Box” by James Clear
Earning Your Stripes: Patrick Collison on The Knowledge Project podcast with Shane Parrish
Lateral Thinking: Creativity Step by Step by Edward de Bono
Six Thinking Hats by Edward de Bono
Automattic
“Surely You’re Joking, Mr. Feynman!”: Adventures of a Curious Character by Richard P. Feynman
The Inner Game of Tennis: The Classic Guide to the Mental Side of Peak Performance by W. Timothy Gallwey
You and Your Research by Richard R. Hamming
Robinson Crusoe by Daniel Defoe

SHOW NOTES

What does Chris Sacca have to say about Patrick Collison? [06:03]
For the well-read Patrick, what makes a book particularly great? What titles get recommended and gifted most? [09:37]
Why The Dream Machine by M. Mitchell Waldrop has a special place on Patrick’s bookshelf (which lends further insight into how he vets his reading list). [13:53]
On the importance of giving ideas — whether they’re wrapped up in books or companies — time to fail before venerating them as innovations, and not writing off an idea you might tackle uniquely just because someone else has already tried it in a different way. [20:44]
When beginning Stripe, what did Patrick and his brother, co-founder John, know when entering a seemingly saturated market that nobody else knew? [28:50]
What does Y Combinator’s Paul Graham mean when he uses the term Collison installation, and what decisions were made in Stripe’s early days that — in retrospect — turned out to be really important? [35:04]
The tendency of many startups to overvalue PR and marketing, the siren song of high praise, and the shocking shortage of good software from companies that should — but don’t — understand its importance for driving organic traction in today’s marketplace. [46:32]
The future of your company is probably not going to hinge entirely on the first name that you give it — as Patrick demonstrates by telling us how SlashDevSlashFinance, Inc. became Stripe. [51:22]
A day early on when Stripe hit a hurdle, how it was overcome, and how this affected Patrick on a personal level. [58:07]
What did the conversation between the Collison brothers look like that day? Was there anything that trained them to develop the appropriate mindset to deal with these sorts of problems on a regular basis? [1:03:44]
Does having such supportive parents make the sometimes odd courses Patrick and John chart for themselves easier to navigate? [1:08:27]
Patrick fills us in on the kind of upbringing he and his brothers had in rural Ireland as “free-range” children, and how their parents cultivated their curiosity — from including them in dinner conversations with other adults to camping all over Europe to finding a local monk to teach Patrick ancient Greek when he expressed a passing interest in learning it. [1:14:44]
Some wise advice from Patrick about developing your own worldview — even if you don’t happen to fall within the “prime” years between 10 and 20 — and heuristics you can use to help. [1:26:06]
Patrick’s recommended people lists. [1:34:37]
Why is Patrick so fascinated by economic history and development economics? [1:37:09]
How does one gauge perceived economic progress against happiness? Or put another way, why are a lot of Ethiopians generally happy until they get television sets? [1:40:30]
What levers does Patrick think we might we pull to better equalize happiness around the world? [1:47:08]
What progressive strides has South Korea made in a relatively short period of time that might serve as an example to currently troubled areas looking forward to their own development? [1:53:28]
Suggestions Patrick has for people who are trying to increase the speed of their decision-making process, and concepts and books that have been helpful to me. [1:58:20]
When I’m agitated about any number of things, “What would Matt Mullenweg say?” is a question I often ask myself. Members of your close peer group can be helpful to your decision-making process even if they’re not physically around to ask. [2:06:37]
In many cases, the only way you can have more complete information is to make what might be the wrong decision and then course correct. [2:10:18]
Patrick recommends a few books that might help with decisional course correction — or reformatting the approach to make sure you’re not wasting time devising the best solutions imaginable for the wrong problems. [2:12:05]
Parting thoughts. [2:16:41]

PEOPLE MENTIONED

John Collison
Barack Obama
Molly
Charlie Munger
Frank Oppenheimer
Chris Sacca
Larry Page
Paul Graham
Yoda
Marc Andreessen
Neal Stephenson
M. Mitchell Waldrop
J.C.R. Licklider
Bret Victor
Alan Kay
Evan Broder
Nassim Nicholas Taleb
Laird Hamilton
Lily Collison
Denis Collison
Ralph Waldo Emerson
Abraham Lincoln
Oscar Wilde
J.R.R. Tolkien
Tommy Collison
Homer
Harsh Sikka
Almighty Rello
Graham Duncan
John Arnold
Stewart Brand
Pseudoerasmus
Max Roser
Scott Alexander
Joe Studwell
James Fallows
Friedrich List
Bboy Pocket
Reid Hoffman
Michael Nielsen
Edward de Bono
Matt Mullenweg
W. Timothy Gallwey
John Tukey
Jocko Willink
Cal Fussman
Peter Attia
Hamilton Morris

Dr. Peter Attia vs. Tim Ferriss (#352)

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“Unhappiness is at the root of more pain, I would suspect, than any ailment that falls in the ‘physical’ body. And to think that we have compounds that could play such an important role that are really facing challenges in getting approved, I just find that really frustrating.” — Dr. Peter Attia

This is a special episode and features one of my dear friends.

A number of guests have started incredible podcasts after being on this show as their first-ever podcast interview, including legendary Navy SEAL commander Jocko Willink.

What people don’t know is that Jocko was introduced to me by a fella named Peter Attia.

Dr. Peter Attia (TW: @PeterAttiaMD, IG: @peterattiamd, peterattiamd.com) is a former ultra-endurance athlete (e.g., swimming races of 25 miles), a compulsive self-experimenter, and one of the most fascinating human beings I know. He is one of my go-to doctors for anything performance or longevity-related. He is also easily the best quarterback and sherpa for the US medical system I’ve ever met.

But here is his official bio to do him justice:

Peter is the founder of Attia Medical, PC, a medical practice with offices in San Diego and New York City, focusing on the applied science of longevity.

Peter trained for five years at the Johns Hopkins Hospital in general surgery, where he was the recipient of several prestigious awards, including resident of the year, and the author of a comprehensive review of general surgery. He also spent two years at NIH as a surgical oncology fellow at the National Cancer Institute where his research focused on immune-based therapies for melanoma. He has since been mentored by some of the most experienced and innovative lipidologists, endocrinologists, gynecologists, sleep physiologists, and longevity scientists in the United States and Canada.

Peter earned his M.D. from Stanford University and holds a B.Sc. in mechanical engineering and applied mathematics.

In our conversation in this episode, Peter actually interviews me, though he shares a lot of his own experiences. It is audio from Peter’s incredible podcast, The Peter Attia Drive, which can be found on Apple Podcasts, Spotify, or anywhere podcasts are found. It is one of the few podcasts I listen to regularly.

Many friends I’ve shared this particular episode with have now listened to it multiple times. It takes us both a few minutes to warm up, but then it goes really deep. These are many of things people like Peter and I aren’t supposed to talk about publicly.

Please enjoy!

Listen to the episode on Apple Podcasts, Spotify, Stitcher, Overcast, or on your favorite podcast platform. 

[image error] [image error] [image error] #352: Dr. Peter Attia vs. Tim Ferriss
https://rss.art19.com/episodes/82ba3a91-f689-4c4c-9a7b-7694bbfd3b5f.mp3Download

Listen to it on Apple Podcasts.
Stream by clicking here.
Download as an MP3 by right-clicking here and choosing “save as.”

Want to hear me interviewing Peter? — Listen to our conversation here. In that interview, we discuss optimizing blood testing, drinking “jet fuel,” training for ultra-endurance sports, consuming synthetic ketones, using metabolic chambers, extending longevity by avoiding certain types of exercise, and much more (stream below or right-click here to download):

#50: Dr. Peter Attia on Life-Extension, Drinking Jet Fuel, Ultra-Endurance, Human Foie Gras, and Morehttps://rss.art19.com/episodes/0f32a7a5-718f-4328-8706-d7f75d794045.mp3Download

This podcast is brought to you by Peloton, which has become a staple of my daily routine. I picked up this bike after seeing the success of my friend Kevin Rose, and I’ve been enjoying it more than I ever imagined. Peloton is an indoor cycling bike that brings live studio classes right to your home. No worrying about fitting classes into your busy schedule or making it to a studio with a crazy commute.

New classes are added every day, and this includes options led by elite NYC instructors in your own living room. You can even live stream studio classes taught by the world’s best instructors, or find your favorite class on demand.

Peloton is offering listeners to this show a special offer. Visit onepeloton.com and enter the code TIM at checkout to receive $100 off accessories with your Peloton bike purchase. This is a great way to get in your workouts, or an incredible gift. Again, that’s onepeloton.com and enter the code TIM.

This episode is also brought to you by Walter Isaacson’s #1 New York Times bestseller Leonardo da Vinci, which chronicles the life and times of the Renaissance genius while showing us how we can harness da Vinci’s boundless curiosity and creativity. Not long ago, I also interviewed Walter about his writing and Leonardo, as I’ve known Walter for some time, and the book is spectacular. I think it’s his best biography yet, and that’s saying a lot considering how famous his bios of Benjamin Franklin, Einstein, and Steve Jobs are.

Based on thousands of pages from Leonardo da Vinci’s astonishing notebooks and new discoveries about his life and work, Walter Isaacson “reveals an intimate Leonardo” in a narrative that connects his art to his science. He shows how Leonardo’s genius was based on skills we can improve in ourselves, such as passionate curiosity, careful observation, and an imagination so playful that it flirted with fantasy. Leonardo da Vinci by Walter Isaacson, published by Simon and Schuster, is available now wherever books are sold. You can also read an excerpt on davincibio.com. 

QUESTION(S) OF THE DAY: What was your favorite quote or lesson from this episode? Please let me know in the comments.

Scroll below for links and show notes…

SELECTED LINKS FROM THE EPISODE

Connect with Peter Attia:

Website | The Peter Attia Drive | Twitter | Instagram

Previous Appearances by Peter Attia on This Show:


Dr. Peter Attia on Life-Extension, Drinking Jet Fuel, Ultra-Endurance, Human Foie Gras, and More, The Tim Ferriss Show Episode 50
Supplements, Blood Tests, and Near-Death Experiences, The Tim Ferriss Show Episode 65)
My Life Extension Pilgrimage to Easter Island, The Tim Ferriss Show Episode 193


Fear-Setting: The Most Valuable Exercise I Do Every Month by Tim Ferriss, TED 2017
The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich by Tim Ferriss
The 4-Hour Chef: The Simple Path to Cooking Like a Pro, Learning Anything, and Living the Good Life by Tim Ferriss
The 4 Hour Body: An Uncommon Guide to Rapid Fat Loss, Incredible Sex and Becoming Superhuman by Tim Ferriss
Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Tim Ferriss
Tribe of Mentors: Short Life Advice from the Best in the World by Tim Ferriss
Michael Pollan — Exploring The New Science of Psychedelics, The Tim Ferriss Show
Are Psychedelic Drugs the Next Medical Breakthrough? — Martin Polanco and Dan Engle on the Tim Ferriss Show
The Psychedelic Explorer’s Guide — Risks, Micro-Dosing, Ibogaine, and More — James Fadiman on the Tim Ferriss Show
This is Water by David Foster Wallace (Full Transcript and Audio), fs.blog
How to Change Your Mind: What the New Science of Psychedelics Teaches Us About Consciousness, Dying, Addiction, Depression, and Transcendence by Michael Pollan
Waking Up, Sam Harris meditation app
Awareness Meditation, wikihow.com
Transcendental Meditation
Focused Attention, Open Monitoring and Loving Kindness Meditation: Effects on Attention, Conflict Monitoring, and Creativity — A Review (Lippelt et al., 2014)
Headspace app
Calm app
Altered Traits: Science Reveals How Meditation Changes Your Mind, Brain, and Body by Daniel Goleman and Richard J. Davidson
The Science of Meditation — A Conversation with Daniel Goleman and Richard J. Davidson, Waking Up Podcast
Radical Acceptance: Embracing Your Life With the Heart of a Buddha by Tara Brach
The Multidisciplinary Association for Psychedelic Studies (MAPS)
Help Tim Ferriss Fund Research for the Treatment of Major Depression, crowdrise.com
Council on Spiritual Practices, csp.org
Psilocybin Can Occasion Mystical-type Experiences Having Substantial and Sustained Personal Meaning and Spiritual Significance (Griffiths et al., 2006)
Mystical-Type Experiences Occasioned by Psilocybin Mediate the Attribution of Personal Meaning and Spiritual Significance 14 Months Later (Griffiths et al., 2008)
Meditation Leads to Reduced Default Mode Network Activity Beyond an Active Task (Garrison et al., 2016)
The Entropic Brain: A Theory of Conscious States Informed by Neuroimaging Research with Psychedelic Drugs (Carhart-Harris et al., 2014)
Psilocybin for Treatment-Resistant Depression: fMRI-Measured Brain Mechanisms (Carhart-Harris et al., 2017)
Neural Correlates of the Psychedelic State as Determined by fMRI Studies with Psilocybin (Carhart-Harris et al., 2012)
Homological Scaffolds of Brain Functional Networks (Petri et al., 2014)
Drug Deaths in America Are Rising Faster Than Ever, The New York Times
Why We’re Donating $5 Million to MAPS by David Bronner
Egg Boxing, peterattiamd.com
Gran Torino, wikipedia
Back Jack Floor Chair
Jack Kornfield — Finding Freedom, Love, and Joy in the Present, The Tim Ferriss Show
The Magic of Mindfulness: Complain Less, Appreciate More, and Live a Better Life, The Tim Ferriss Show
Podcast Gear, The Tim Ferriss Show
How to Build Popular Podcasts and Blogs, The Tim Ferriss Show
Topo Chico
Search Inside Yourself, Search Inside Yourself Leadership Institute
Meditation on Loving Kindness by Jack Kornfield
I Don’t Want to Talk About It: Overcoming the Secret Legacy of Male Depression by Terrence Real
Solve for Happy: Engineer Your Path to Joy by Mo Gawdat
Mistakes Were Made (But Not by Me): Why We Justify Foolish Beliefs, Bad Decisions, and Hurtful Acts by Carol Tavris and Elliot Aronson
Surely You’re Joking Mr. Feynman!: Adventures of a Curious Character by Richard P. Feynman and Ralph Leighton
Letters from a Stoic by Lucius Annaeus Seneca or The Tao of Seneca
Zorba the Greek by Nikos Kazantzakis
Stranger in a Strange Land by Robert A. Heinlein

SHOW NOTES

What it’s like living in Austin. [11:54]
The differences between lifespan and health-span. [18:17]
During childhood and adolescence, I believed I was “not designed to be happy.” [20:00]
My TED Talk and close call with suicide. [22:00]
Why I want to focus on discussing different facets of mental health on a first-hand basis. [25:20]
What’s the type of thinking that triggers my downward spirals? [27:36]
Why I changed my focus from investing in startups to investing in mental health. [28:02]
How self-talk can be your best friend or worst enemy. [29:19]
Why I think everyone, including Type A personalities, should try meditation. [32:44]
Why men, in general, are bad at dealing with depression. [40:10]
Peter’s (newly) most-gifted book, which is related to men and depression, and his previous #1 book. [41:36]
The benefits and drawbacks of self-talk. [44:28]
“The need to treat ourselves as well as we treat others. It’s women’s version of the Golden Rule.” — Gloria Steinem [45:53]
How a couple of my podcasts made Peter aware of the effectiveness of plants to treat patients. [46:43]
Peter’s first experience with psilocybin. [49:16]
What started my interest in psychedelics? [49:31]
My transformative experience with ayahuasca. [53:34]
How my experience and research led me to focus on furthering the science of psychedelics and mental health. [1:01:24]
How do we explain the ineffability of psychedelic experiences? [1:04:53]
What is ego dissolution, and how do we explain it? [1:06:10]
What are some of the meditation modalities and meditation apps out there? Why can meditation be so hard to do, but worthwhile to stick with? [1:18:19]
“The consistent program that you follow is better than the perfect program that you quit.” [1:31:16]
Why have I made a big commitment (more than $1 million) to funding scientific research, and to psilocybin and MDMA research in particular? [1:35:22]
The story of Katharine McCormick and the birth control pill, and what a small number of committed people can do to change the course of history. [1:36:35]
Why the FDA granted MDMA-assisted psychotherapy breakthrough therapy designation (which could expedite approval) for the treatment of PTSD, and how a Phase 3 clinical trial is in motion. [1:41:43]
Ibogaine and the treatment of opiate addiction. [1:51:16]
What is the Default Mode Network (DMN), how does it relate to mental health, and how do psychedelic compounds affect the DMN? [1:51:46]

Image credit: Homological Scaffolds of Brain Functional Networks (Petri et al., 2014)

Here’s Michael Pollan explaining the DMN, and the side-by-side images in figure above, in How To Change Your Mind “In a 2014 paper published in the Journal of the Royal Society Interface, the Imperial College team demonstrated how the usual lines of communications within the brain are radically reorganized when the default mode network goes off-line and the tide of entropy is allowed to rise. Using a scanning technique called magnetoencephalography, which maps electrical activity in the brain, the authors produced a map of the brain’s internal communications during normal waking consciousness and after an injection of psilocybin (shown [above]). In its normal state, shown on the left, the brain’s various networks (here depicted lining the circle, each represented by a different color) talk mostly to themselves, with a relatively few heavily trafficked pathways among them.

“But when the brain operates under the influence of psilocybin, as shown on the right, thousands of new connections form, linking far-flung brain regions that during normal waking consciousness don’t exchange much information. In effect, traffic is rerouted from a relatively small number of interstate highways onto myriad smaller roads linking a great many more destinations. The brain appears to become less specialized and more globally interconnected, with considerably more intercourse, or “cross talk,” among its various neighborhoods.”

How MDMA, in the right setting, may help us “clean up a very messy experience that did a lot of damage; to help people to heal themselves in nonverbal ways. This is really key. It’s very hard for people to talk their way out of something that they didn’t talk their way into.” [1:55:29]
Why has ibogaine gained the least traction in the US for treatment of opiate addiction? [2:01:55]
My first-hand experience with opiate addiction and overdoses. [2:07:26]
Unhappiness may be the single most important problem plaguing our civilization, and there are compounds that may be part of the solution. Is progress being made in terms of pushing through research and application? [2:13:40]
What does it take to reschedule a drug? [2:16:50]
The non-addictive potential of psychedelics. Food vs. cocaine vs. psilocybin. [2:17:43]
Our most recommended and gifted books, and how Solve for Happy by Mo Gawdat has jumped into Peter’s #2 spot. [2:23:12]
Was there anything not in Pollan’s book that I would have added? [2:24:27]
How Peter is very proud to be one of the “Biggest Tools” and where people can find Egg Boxing. [2:30:01]
From all the habits and tools that I have learned, what are the three to five things I return to most reliably? [2:31:58]
What advice would I give to my 20- or 30-year-old self? [2:34:28]

PEOPLE MENTIONED

Michael Pollan
Jim Loehr
Josh Waitzkin
Rick Rubin
Chase Jarvis
Brene Brown
Tara Brach
Jack Kornfield
Terrence Real
Esther Perel
Gloria Steinem
Paul Conti
Martin Polanco
Dan Engle
James Fadiman
Terence McKenna
David Foster Wallace
Corey McCarthy
Sam Harris
Jeff Warren
Dan Harris
Gabor Mate
Katharine McCormick
Gregory Goodwin Pincus
John McPhee
Chade-Meng Tan
Jocko Willink
Clint Eastwood

Real 4-Hour Workweek Case Studies — Allen Walton and SpyGuy, The Path to Seven Figures (#351)

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“And then I wake up at 7:00 a.m., and I roll over and look at my phone. And I have a notification from Shopify saying that I made my first sale for $149. And I let out this huge, orgasmic noise of relief. I was like, ‘Wow. Everything’s going to be okay.’” — Allen Walton 

This episode is by popular request!

In detail, we uncover a real-world case study of someone who built a seven-figure business after reading The 4-Hour Workweek (and other resources, of course).

Two important people joined me for this jam session.

First is Allen Walton (@allenthird), founder of SpyGuy, an online security store based in the Dallas, Texas area. Walton struggled in high school and spent a few years playing video games before his mom made him apply for a job at a local surveillance chain, where he worked from 2009-2011. He became interested in starting his own business after being exposed to The 4-Hour Workweek. In 2014, he went out on his own and started SpyGuy, his current business. He built the business to $1 million in revenue on his own, relying on what he learned in books and podcasts, and it now brings in seven-figure revenue with five employees.

The second person joining me is journalist Elaine Pofeldt (@elainepofeldt), an independent journalist and speaker who specializes in careers and entrepreneurship. She is the author of The Million-Dollar, One-Person Business: Make Great Money. Work the Way You Like. Have the Life You Want, in which she looks at how entrepreneurs are scaling to $1 million in revenue prior to hiring employees.

In this episode we explore the specifics of key decisions, helpful tools, early mistakes, and much more, all leading to a business that has exceeded all expectations. I had a blast doing this one, and I hope you have a blast listening!

Listen to the episode on Apple Podcasts, Spotify, Stitcher, Overcast, or on your favorite podcast platform. 

[image error] [image error] [image error] #351: Real 4-Hour Workweek Case Studies — Allen Walton and SpyGuy, The Path to Seven Figures
https://rss.art19.com/episodes/b35ef9cb-1f4e-478e-9c54-4497ab93ee5e.mp3Download

Listen to it on Apple Podcasts.
Stream by clicking here.
Download as an MP3 by right-clicking here and choosing “save as.”

Want to hear a conversation with an entrepreneur who sold his company for $800 million? — Listen to Braintree and OS Fund founder Bryan Johnson’s rag to riches to philanthropy story (stream below or right-click here to download):

#81: The Rags to Riches Philosopher: Bryan Johnson's Path to $800 Millionhttps://rss.art19.com/episodes/985659ec-7f7e-4373-b2bb-3d64dc1a7c74.mp3Download

This podcast is brought to you by Four Sigmatic. I reached out to these Finnish entrepreneurs after a very talented acrobat introduced me to one of their products, which blew my mind (in the best way possible). It is mushroom coffee featuring chaga. It tastes like coffee, but there are only 40 milligrams of caffeine, so it has less than half of what you would find in a regular cup of coffee. I do not get any jitters, acid reflux, or any type of stomach burn. It put me on fire for an entire day, and I only had half of the packet.

People are always asking me what I use for cognitive enhancement right now — this is the answer. You can try it right now by going to foursigmatic.com/tim and using the code Tim to get 20 percent off your first order. If you are in the experimental mindset, I do not think you’ll be disappointed.

This podcast is also brought to you by FreshBooks. FreshBooks is the #1 cloud bookkeeping software, which is used by a ton of the start-ups I advise and many of the contractors I work with. It is the easiest way to send invoices, get paid, track your time, and track your clients.

FreshBooks tells you when your clients have viewed your invoices, helps you customize your invoices, track your hours, automatically organize your receipts, have late payment reminders sent automatically and much more.

Right now you can get a free month of complete and unrestricted use. You do not need a credit card for the trial. To claim your free month and see how the brand new Freshbooks can change your business, go to FreshBooks.com/Tim and enter “Tim Ferriss” in the “how did you hear about us” section.

QUESTION(S) OF THE DAY: What was your favorite quote or lesson from this episode? Please let me know in the comments.

Scroll below for links and show notes…

SELECTED LINKS FROM THE EPISODE

Connect with Allen Walton:

SpyGuy | Personal Website | Twitter

Connect with Elaine Pofeldt:

Website | Twitter

The Million-Dollar, One-Person Business: Make Great Money. Work the Way You Like. Have the Life You Want. by Elaine Pofeldt
The 4-Hour Workweek by Timothy Ferriss
Fortune Small Business
Cheaters
The 4-Hour Body: An Uncommon Guide to Rapid Fat-Loss, Incredible Sex, and Becoming Superhuman by Timothy Ferriss
Instapundit
Fear-Setting: The Most Valuable Exercise I Do Every Month by Tim Ferriss
DEAL: Define, Eliminate, Automate, Liberate
Shopify
Google Ads
Google Shopping
1,000 True Fans by Kevin Kelly
Choose Yourself! by James Altucher
Braintree
The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime by M.J. DeMarco
I Will Teach You to Be Rich by Ramit Sethi
How to Be a Successful Copywriter: From a Man Who’s Written Million Dollar Emails by Ramit Sethi
The 22 Immutable Laws of Marketing by Al Ries and Jack Trout
The 22 Immutable Laws of Branding: How to Build a Product or Service into a World-Class Brand by Al Ries and Laura Ries
Positioning: The Battle for Your Mind by Al Ries and Jack Trout
Good to Great: Why Some Companies Make the Leap…And Others Don’t by Jim Collins
Table Top Photo Photography Studio Lighting Tent Kit in a Box
The Masterplan by Oasis
Welcome Interstate Managers by Fountains of Wayne
How to Write Seductive Web Copy: An Easy Guide to Picking Up More Customers by Henneke Duistermaat
In-N-Out Burger
Dynamite Jobs
Remotive
We Work Remotely
The New One Minute Manage by Ken Blanchard and Spencer Johnson M.D.
IRCE: Internet Retailer Conference
Dynamite Circle
South by Southwest (SXSW)
Ideal Lifestyle Costing (And Dreamlining) by Tim Ferriss
Yahoo! Store
Help Scout
ShippingEasy
ShipStation
Stamps.com
Endicia
Third-Party Logistics (3PL): Everything You Need to Find the Right Shipping Provider, Shopify
Stock Keeping Unit (SKU), Investopedia
Traction: Get a Grip on Your Business by Gino Wickman
Scaling Up: How a Few Companies Make It…and Why the Rest Don’t by Verne Harnish
Rocks, Pebbles, and Sand Story, Litmos Heroes
The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results by Gary Keller and Jay Papasan
Request for Quote (RFQ), Investopedia
Slack
Priest at Center of Hidden Camera Scandal Refuses Church Order to Return by Emily E. Smith, The Oregonian
Trust Me, I’m Lying: Confessions of a Media Manipulator by Ryan Holiday
Rossen Reports: How to Spot Hidden Cameras in Hotels, Vacation Rentals, The Today Show
eCommerceFuel
EcomCrew
Adult Coloring Books
The Tropical MBA Podcast
How the Coffee Cup Sleeve Was Invented by Colleen Connolly, Smithsonian Magazine
This Month in NASA History: Winglets Helped Save an Industry, APPEL News

SHOW NOTES

How Elaine Pofeldt and I first met. [05:10]
Who is Allen Walton? [06:35]
Why did Allen make the switch from overworked and under-appreciated employee to entrepreneur? [07:33]
How did Allen come across The 4-Hour Workweek? [11:51]
What were Allen’s first steps toward building his own business? He shares early notes about fear-setting and the DEAL framework. [13:18]
Did Allen keep his full-time job while working on his own business as a side hustle, or did he go all in? [17:32]
What were Allen’s next steps toward getting his brand and products in front of people in a competitive market? [20:32]
What books and resources does Allen recommend to people who are trying to carve out their own business niche and be seen by potential customers? [21:57]
While pulling all-nighters and taking product images for his first website, what albums did Allen listen to on repeat? [27:50]
What it was like for Allen to finalize his website and make his first sale. [29:02]
As a married man, how did the conversation with his wife go when he decided to start his own business? [32:12]
Allen describes his chaotic inventory storage situation in those days and the process between a customer placing an order to having it delivered. [34:55]
What are ePackets and FBA sellers? [43:22]
How did Allen select the products that would comprise the majority of his initial inventory, and what human edge did he have over the competition thanks to his retail experience? [45:32]
What led to Allen hiring his first employee, and where did he look for the ideal candidate? [49:35]
What Allen learned about managing a team not long after he hired a second employee. [54:59]
Given retrospective advice from his future self, how would Allen’s hiring process for that second employee have gone differently? [57:42]
Job boards Allen recommends for finding quality remote workers. [58:42]
A books Allen recommends to anyone on the path to become a better manager. [1:00:17]
Aside from hiring an unqualified friend, what other early mistakes did Allen make? How might hiring the right employees help alleviate these mistakes, and where would he find them? [1:01:13]
Conferences recommended for e-commerce networking that are actually worth a damn, and tips we have for maximizing their effectiveness. [1:04:17]
How did Allen handle targeted monthly income, dreamlining, and lifestyle goals when he first got his business going? [1:09:28]
A lot of Internet retailers operate on Amazon; SpyGuy does not. What is Allen’s reasoning behind this decision? [1:12:51]
Allen wants to begin manufacturing his own products under the SpyGuy brand. What does that process look like right now? [1:15:20]
Tools Allen has found helpful for automation and greater efficiency. [1:16:45]
Dire third-party logistics (3PL) problems Allen and I have both faced. [1:20:36]
How does Allen most efficiently manage his time? [1:23:07]
What is the criteria for products Allen wants to start manufacturing first, and what kind of customers does SpyGuy primarily serve? [1:26:33]
Allen tells us about the time his company assisted in a child predator case and the media attention surrounding the event. [1:28:23]
The mixed blessing of product demand spurred by The Today Show and regrets about SpyGuy’s biggest day of sales. [1:34:12]
Highlights of Allen’s journey so far he would never have predicted at its start. [1:36:52]
Podcasts Allen recommends. [1:39:15]
What does Allen hope to accomplish over the year ahead on business and personal fronts? [1:44:27]
Final thoughts. [1:47:15]

PEOPLE MENTIONED

Lady Gaga
Kevin Kelly
James Altucher
Bryan Johnson
M.J. DeMarco
Ramit Sethi
Verne Harnish
Ysrael Bien
Paul Maloney
Emily E. Smith
Jared Fogle
Antonin Scalia
Oprah Winfrey
Naval Ravikant
Kevin Rose
Mike Jackness
Richard Whitcomb

Dr. Andrew Weil — Optimal Health, Plant Medicine, and More (#350)

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“I’ve gotten away with saying the most outrageous things because I’m not angry. And people listen, and we can have actual dialog.”  — Dr. Andrew Weil 

Andrew Weil, M.D. (@DrWeil) is a world-renowned leader and pioneer in the field of integrative medicine.

Dr. Weil received a degree in biology (botany) from Harvard College in 1964 and an M.D. from Harvard Medical School in 1968. After completing a medical internship at Mt. Zion Hospital in San Francisco, he worked a year with the National Institute of Mental Health, then wrote his first book, The Natural Mind. From 1971-75, as a Fellow of the Institute of Current World Affairs, Dr. Weil traveled widely in North and South America and Africa collecting information on drug use in other cultures, medicinal plants, and alternative methods of treating disease. From 1971-84 he was on the research staff of the Harvard Botanical Museum and conducted investigations of medicinal and psychoactive plants.

Dr. Weil is the founder and Director of the University of Arizona Center for Integrative Medicine, where he also holds the Lovell-Jones Endowed Chair in Integrative Rheumatology and is Clinical Professor of Medicine and Professor of Public Health. Through its Fellowship and Integrative Medicine in Residency curricula, the Center is now training doctors and nurse practitioners around the world.

A New York Times best-selling author, Dr. Weil is the author of 15 books on health and well-being, including Mind Over Meds, Fast Food, Good Food, True Food, Spontaneous Happiness, Healthy Aging, and Eight Weeks to Optimum Health.

Please enjoy this wide-ranging (and often hysterical) conversation with Dr. Weil!

Listen to the interview on Apple Podcasts, Spotify, Stitcher, Overcast, or on your favorite podcast platform. 

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#350: Dr. Andrew Weil — Optimal Health, Plant Medicine, and More
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Want to hear another episode on improving one’s health? — In this episode, Dr. Rhonda Patrick discusses best practices for fasting, most important blood tests, smart drugs, and much, much more (stream below or right-click here to download):

#237: Exploring Smart Drugs, Fasting, and Fat Loss — Dr. Rhonda Patrickhttps://rss.art19.com/episodes/95309876-a111-430b-91a8-808a7a6ca0ac.mp3Download

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QUESTION(S) OF THE DAY: What was your favorite quote or lesson from this episode? Please let me know in the comments.

Scroll below for links and show notes…

SELECTED LINKS FROM THE EPISODE

Connect with Andrew Weil, M.D.:

Website | Twitter | Facebook

Mind Over Meds: Know When Drugs Are Necessary, When Alternatives Are Better and When to Let Your Body Heal on Its Own by Andrew Weil, M.D.
Fast Food, Good Food: More Than 150 Quick and Easy Ways to Put Healthy, Delicious Food on the Table by Andrew Weil, M.D.
True Food: Seasonal, Sustainable, Simple, Pure by Andrew Weil, M.D. and Sam Fox
Spontaneous Happiness by Andrew Weil, M.D.
Healthy Aging: A Lifelong Guide to Your Well-Being by Andrew Weil, M.D.
8 Weeks to Optimum Health: A Proven Program for Taking Full Advantage of Your Body’s Natural Healing Power by Andrew Weil, M.D.
The Natural Mind: A Revolutionary Approach to the Drug Problem by Andrew Weil, M.D.
From Chocolate to Morphine: Everything You Need to Know About Mind-Altering Drugs by Andrew T. Weil, M.D. and Winifred Rosen
Health and Healing: The Philosophy of Integrative Medicine and Optimum Health by Andrew T. Weil, M.D.
True Food Kitchen
Weil Foundation
Arizona Center for Integrative Medicine
Harvard University Herbaria & Libraries
The Doors of Perception by Aldous Huxley
Mescaline, Drugs.com
Thalidomide, Brought to Life
Nutmeg as a Narcotic by Andrew T. Weil
Cannabis, Drugs.com
Clinical and Psychological Effects of Marijuana in Man by Andrew T. Weil, M.D., Norman E. Zinberg, M.D., And Judith M. Nelsen, M.A., International Journal of the Addictions
The Mescaline Experiment: Humphry Osmond and Christopher Mayhew
LSD, Drugs.com
Learning from a ’50s Housewife on Acid by Brian Baker, ABC News
What if the Placebo Effect Isn’t a Trick? by Gary Greenberg, The New York Times
Wizard of the Upper Amazon: The Story of Manuel Cordova-Rios by F. Bruce Lamb
The New Politics of Coca by Andrew Weil, The New Yorker
The Institute of Current World Affairs (ICWA)
Ayahuasca and Cancer: One Man’s Experience by Donald M. Topping, Ph.D., MAPS
Plants of the Gods: Their Sacred, Healing, and Hallucinogenic Powers by Richard Evans Schultes, Albert Hofmann, and Christian Ratsch
Hallucinogenic Plants (A Golden Guide) by Richard Evans Schultes
MDMA (Ecstacy), U.S. National Library of Medicine
Psilocybine, U.S. National Library of Medicine
Opioid Overdose Crisis, National Institute on Drug Abuse
What is Integrative Medicine? by Andrew Weil, M.D.
The 4-7-8 Breath: Health Benefits & Demonstration by Dr. Weil
Cartesian Dualism, AllAboutPhilosophy.org
Better Feet Through Radiation: The Era of the Fluoroscope by Sarah C. Rich, Smithsonian Magazine
Center for Stem Cell Biology and Regenerative Medicine, Japan
Recent Advancements in Regenerative Dentistry: A Review by Pouya Amrollahia et al., Materials Science and Engineering
Consortium of Academic Health Centers for Integrative Medicine
The Way of Life According to Lao Tzu Translated by Witter Bynner
We: Understanding the Psychology of Romantic Love by Robert A. Johnson
Rhodesian Ridgeback Dog Breed Information, American Kennel Club
UA Dog Study, Raison Research Lab
Meditation, Mindset, and Mastery, The Tim Ferriss Radio Hour
Vipassana Meditation
Waking Up App by Sam Harris
The End of Faith: Religion, Terror, and the Future of Reason by Sam Harris
The 4-Hour Chef: The Simple Path to Cooking Like a Pro, Learning Anything, and Living the Good Life by Timothy Ferriss
Targeting Trans-Fatty Acids? by Dr. Weil
The Guide to Intermittent Fasting for Beginners by Alison Moodie, Bulletproof
Rosh Hashanah FAQ: All About the Jewish New Year by MJL, My Jewish Learning
Dr. Weil’s Typical Day by Dr. Weil
Fabulous Food in Japan by Dr. Weil
Sado (Chanoyu) Japanese Tea Ceremony
Matcha Kari
Madam Secretary
Cyxus Blue Light Filter Computer Glasses

SHOW NOTES

How did Dr. Weil’s love affair with plants begin? [06:01]
Dr. Weil’s go-to plants for food and medicine. [07:52]
On The Doors of Perception, nutmeg, cannabis, and trying to score mescaline from Aldous Huxley’s source. [08:54]
Examining the importance of environment and expectation on the effects of mind-altering substances — particularly under observation by “The Man.” [13:54]
What was Dr. Weil’s first mescaline experience like? [17:54]
While Dr. Weil was once a frequent cannabis user, he says he doesn’t partake much these days. What has changed? [20:19]
Dr. Weil describes what Harvard was like during his time there, how it fostered experimentation, and what set/setting means for research in mind-altering substances. [22:35]
Guidelines Dr. Weil might recommend for researchers designing studies in these areas today, and why he believes these compounds offer help for more than just psychological issues. [25:37]
What drew Dr. Weil to take his explorations to Central and South America, and then eventually back to Tucson of all places? [29:28]
Why Dr. Weil believes in a shamanistic approach toward the research of healing science. [32:24]
What compelled Dr. Weil to co-author From Chocolate to Morphine, and why was its timing — at the dawn of The War on Drugs — cause for concern to a certain senator? [34:30]
What can modern researchers learn from the mistakes of Dr. Weil’s generation to avoid jeopardizing the study of controlled substances? [37:26]
Dr. Weil defines integrative medicine. [39:45]
How Dr. Weil feels about research that only considers the results of double-blind placebo-controlled studies. [43:06]
In what ways do a lot of traditional researchers blind themselves to the full spectrum of what their research might accomplish? Consider how Dr. Weil shed a lifetime of cat allergies in one sitting and learned how to tan in the sun instead of burn. [45:38]
A breathing technique Dr. Weil has found useful for reducing anxiety (and an explanation of why he believes it’s so effective). [52:13]
What current accepted concepts or practices does Dr. Weil think are going to be obsolete in the near future or significantly revised? [55:02]
Books Dr. Weil gifts most to others. [1:04:20]
Does Dr. Weil still believe — as he did when he wrote his first book — that non-ordinary states of consciousness are innate to human beings? What does it say about a society that stifles the drive to pursue these states? [1:05:49]
Habits and routines that put Dr. Weil in the zone to perform optimally. [1:07:06]
Why are dogs such unique companions, how might they help humans heal, and what kind of dogs does Dr. Weil have at home? [1:08:17]
What does Dr. Weil’s morning meditation look like? [1:11:17]
How the ritual of cooking became meditative for Dr. Weil, and how it led him to become a partner in a chain of True Food Kitchen restaurants that has American kids swooning over — of all things — kale. [1:13:55]
Dr. Weil’s best investments of time, energy, or money. [1:19:10]
Favorite failures that led the way to later successes. [1:21:27]
Once strong-held positions or beliefs that have changed over the years. [1:22:31]
New beliefs, behaviors, or habits that have improved the quality of Dr. Weil’s life. [1:24:44]
When was the last time Dr. Weil cried tears of joy? [1:25:35]
Does Dr. Weil make new year’s resolutions? [1:26:37]
What the first hour of Dr. Weil’s day looks like. [1:28:02]
Default breakfasts. [1:29:04]
Dr. Weil’s first experience with matcha tea in 1950s Japan. [1:29:59]
Purchases of $100 or less that have positively affected Dr. Weil’s life in recent memory. [1:33:52]
What would Dr. Weil’s billboard say? [1:34:35]
Parting thoughts. [1:36:37]

PEOPLE MENTIONED

Kevin Rose
Dr. Weil’s Mother
Richard Schultes
Aldous Huxley
Timothy Leary
Richard Alpert
Sigmund Freud
Norman Zinberg
Sam Harris
Robert Fulford
Mary Cosimano
Albert Hoffman
Len Bias
Ronald Reagan
Nancy Reagan
Paula Hawkins
Rene Descartes
Paul Stamets
Witter Bynner
Robert A. Johnson
Carl Jung
Sam Fox
Dan Engle
Amelia Boone