Links - 10/16/2023
“People went from riding passenger trains to riding airplanes. But the answer wasn’t to get in the airline business - but rather to get out of the passenger business. Just because your product is disappearing is no reason to go into the successor products which are driving you under. Television has gone from being in nobody’s home to having multiple sets in almost everybody’s home. Yet the net amount of money made by U. S. companies manufacturing TVs is probably negative.” —Warren Buffett (1988)
Richer, Wiser, Happier Podcast: The High Road To Riches w/ Peter Keefe (Video and Transcript, Podcast)
A Few Laws of Getting Rich - by Morgan Housel (LINK)
Doom, Gloom and no Boom: Notes from The MoneyWeek Conference 2023 (LINK)
Where are all the defaults? (LINK)
Why an economic soft landing may prove elusive - by Edward Chancellor (LINK)
Byron Allen Says Iger Isn’t Ready to Sell ABC (video) (LINK) (Allen about his text to Iger: “Whatever your EBITDA is, I’m willing to pay you an 8x [multiple].”)
Entering the Fall 2023 | Fireside Chat with Boaz Weinstein and Mike Green (video) (LINK)
Entering the Fall 2023 | Panel 3 - Commodities in an Age of Scarcity (video) (LINK)
The Techno-Optimist Manifesto - by Marc Andreessen (LINK)
A Letter a Day: Letters #127-129: Warren Buffett, Bill Gates, and Chuck Feeney (2014/2015/2011) (LINK)
The Education of a Value Investor Podcast: Luca Dellanna on his book Ergodicity, autism, and decision making in our brains. (LINK)
Against the Rules with Michael Lewis Podcast: The Trial of Sam Bankman-Fried: Judging Sam: Ellison Testimony Wraps Up (LINK)
Against the Rules with Michael Lewis Podcast: The Trial of Sam Bankman-Fried: Judging Sam: Week 2 Catch-up with Michael Lewis (LINK)
Value Investing with Legends Podcast: Ray Dalio - Risk, Return, and Asset Allocation (LINK)
Business Breakdowns Podcast: WEX: Fleet Cards (LINK)
Art of Investing Podcast: David Rosenthal & Ben Gilbert - From Obsession to Profession (LINK)
Acquired Podcast: NVIDIA CEO Jensen Huang (LINK)
Short History Of... Podcast: Congo River (LINK)
Israel, Hamas and Gaza: Q&A w/ Peter Zeihan (video) (LINK)
Charlie Rose Show: Moshe Safdie Reacts to Israel-Hamas Conflict (video) (LINK)
Jocko Unraveling Podcast: 38: The Administration of Savagery (LINK)
The history of the Israeli-Palestinian conflict is long and complicated, with heroes, villains, and legitimate grievances on both sides. None of that matters now. Jocko and Darryl discuss the recent assault by Hamas in southern Israel, and the upcoming Israeli response.
Jocko Unraveling Podcast: 39: No Exit (LINK)
Jocko and Darryl discuss the different perspectives of the Israelis and Palestinians, and whether peace is possible.
Online Archive of the Whole Earth Catalogs [H/T @kevin2kelly] (LINK)
“A good idea if not acted upon produces terrible psychological pain. But a good idea acted upon brings enormous mental satisfaction. Got a good idea? Then do something about it. Use action to cure fear and gain confidence. Here’s something to remember: Actions feed and strengthen confidence; inaction in all forms feeds fear. To fight fear, act. To increase fear--wait, put off, postpone.” —David J. Schwartz