Read & Repeat

The story of CRISPR reads like one straight out of a science fiction novel. It is filled with scientific breakthroughs, mad scientists, patent wars, and eventually, the ability to edit our own genes! As a young kid, Jennifer Doudna was inspired by James Watson's The Double Helix. She wanted to learn more about this incredible field of DNA, but soon realized that thousands of other scientists had the same idea as her. So instead, she focused her energy on its less famous sibling, RNA. That proved to be a monumental decision. Over the next two decades, she became an expert on RNA, putting her in the perfect position when CRISPR came knocking on her door. By experimenting with bacteria, Doudna's team was able to discover the amazing CRISPR-Cas9 system, basically combining her two specialties. Thus, they had unlocked a powerful gene editing tool for mankind. While this discovery has huge immediate implications, it also raises serious ethical questions. What type of condition deserves the CRISPR treatment? How do we distinguish between disease vs enhancement? Will we simply resort to a genetic supermarket? In this episode, we tell the story of CRISPR and explore the many philosophical questions that come with this new technology. Enjoy! ---- The Code Breaker: Jennifer Doudna, Gene Editing, and the Future of the Human Race - Walter Isaacson ---- Please share with a friend or rate 5 stars if you enjoyed this episode! | Find us at ReadnRepeat.com and on Twitter @ReadnRepeatPod ---- Recommendation of the Week: Are People Paying Attention to Apple TV+ ---- The Web of Ideas: The Code Breaker (my notes on the book) ---- Show Notes: 2:09 - The Double Helix 4:33 - The evolution of genes & DNA 9:12 - Never do something that a thousand other people are doing 17:50 - The magic of CRISPR enzymes 24:03 - Why are enzymes so important to us?? 30:21 - Discovering the CRISPR Cas9 system 33:29 - The race for human gene-editing glory 37:20 - What are the implications of gene-editing? 42:04 - Germline edits and the future of the human race 51:26 - Super soldiers and geopolitical motivations 58:00 - Applying RNA & CRISPR to the Coronavirus Pandemic

The year was 2003. LEGO, the beloved company known for popularizing the little plastic building brick, was on the brink of bankruptcy. After overexpanding beyond their core business and taking on too much debt, the LEGO family felt they may have to sell their crown jewel. As a last-ditch effort, they decided to hand the keys to 35-year-old, former McKinsey consultant Jurgen Vig Knudstorp to turn around the company. As he diagnosed the mistakes LEGO had made over the last decade, Jurgen kept asking himself a key question: Why do we exist? What makes us the best in the world at that one thing that nobody else can do? This framework is what led him to refocus on the brick, deleverage, and ultimately partner with experienced companies to grow the LEGO brand yet again. Today, LEGO is the most profitable toy company in the world, with ~28% profit margins and 10x larger profits than the next closest toy company. This episode is filled with lessons on the perils of overexpansion & overleverage, and how sometimes trimming down is the only way to grow sustainably. Enjoy! ---- The LEGO Story - Jens Anderson Brick by Brick - David C Robertson LEGO: Jurgen Vig Knudstorp Interview - Guy Raz ---- Please share with a friend or rate 5 stars if you enjoyed this episode! | Find us at ReadnRepeat.com and on Twitter @ReadnRepeatPod ---- Recommendation of the Week: LEGO Concorde ---- The Web of Ideas: Brick by Brick (my notes on the book) ---- Show Notes: 5:00 - 1998: LEGO's first year in the red since founding 15:12 - Luke Skywalker, LEGO's temporary savior 19:11 - It's just a thick, fat layer of cosmetics... 25:28 - Jorgen Vig Knudstorp's action plan: deleveraging and prioritizing what LEGO can do better than anyone else 29:56 - Shedding off the fat & getting a boost of BIONICLE! 32:10 - Danny Meyer - what makes you different and unique??? 36:09 - There are no points awarded for difficulty 39:10 - Adults Welcome :) 46:40 - Growing into the most profitable toy company yet again 53:00 - They may not be the biggest brand in the world, but definitely one of the best! 56:51 - The modern-day LEGO

LEGO is one of the most beloved brands in the world, with 7 sets sold every second and 4 billion minifigures walking this Earth! The company's founding traces back 100+ years, as Ole Kirk Christiansen opened up a carpentry shop in the small Danish town of Billund. Over the years, he persisted through countless adversities - his wife passing away early, two World Wars, his workshop burning down - to build a high-quality toy company that gives his children joy. As Ole Kirk made the bold decision to shift from wooden toys to plastic, he set up his son, Godtfred, for the LEGO future we know today. From the 1950s to the 70s, Godtfred executed the LEGO growth plan perfectly, running global ad campaigns to establish their brand, setting up international sales channels, patenting the ever-present interlocking brick, and building the first LEGOLAND location. When the 3rd generation of LEGO family leaders, Kjeld Kirk Kristiansen, took over, he sparked life into a slow product development cycle and dominated the US market through a surprising partnership. It was all sunshine and rainbows until the 90s, when internal succession issues, creeping overleverage, and growing competition from digital media companies caused LEGO to have its first year in the red since its founding. In this episode, we discuss the incredible evolution of The LEGO Group, spanning 3 generations of family leaders and global entrenchment. In the next episode, we'll discuss how LEGO was able to turnaround its financial woes and become the most profitable toy company in the world. Enjoy!! ---- The LEGO Story: How a Little Toy Sparked the World's Imagination - Jens Anderson ---- Please share with a friend or rate 5 stars if you enjoyed this episode! | Find us at ReadnRepeat.com and on Twitter @ReadnRepeatPod ---- Recommendation of the Week: Silicon Valley - HBO ---- The Web of Ideas: The LEGO Story (my notes on the book) ---- Show Notes: 2:56 - Ole Kirk the carpenter 8:37 - Greenlights - the worst of times may lead to the best of times 17:09 - LEGO's Founding 30:06 - Discovering plastics after WW2 35:53 - LEGO System in Play 41:09 - Godtfred's ambitions - international expansion! 44:24 - The LEGO patent and the modern-day brick 51:59 - Become a company of GIANTS 59:58 - LEGOLAND 1:04:27 - Kjeld's turn as the 3rd generation Kristiansen CEO 1:06:28 - An epic co-promotion campaign to dominate the US market 1:11:14 - Hello digital competitors! 1:23:12 - 1998 was LEGO's first year in the read since its founding...

In this episode, we dive into Morgan Housel's new book, Same as Ever, which chronicles a series of human behaviors that tend to repeat over time. We talk about how we're all constantly tempted to change and evolve, when sometimes the most powerful things in our lives are the ones that never change. The book offers great timeless insights into both life and business, such as how to sustain happiness for long periods of life, the most important variable in compounding, and the types of risk we will never predict. We also explore the power of the story, sharing how companies like Nvidia, LEGO, and Trader Joe's have used effective stories to sway customers and investors. Hope you enjoy this one! ---- Same as Ever - Morgan Housel ---- Please share with a friend or rate 5 stars if you enjoyed this episode! | Find us at ReadnRepeat.com and on Twitter @ReadnRepeatPod ---- Recommendation of the Week: Greatest of All Talk Podcast (for NBA fans) ---- The Web of Ideas: Same as Ever (my notes on the book) ---- Show Notes: 5:40 - Risk is what you don't see coming 13:27 - Happiness is reality minus expectations 20:33 - The best story wins 28:22 - Days of prosperity make us forget adversity 34:16 - The 8th wonder in the world 39:58 - Survival is key 49:21 - Incentives: the most powerful force in the world 58:00 - The long run is just a collection of short runs you have to put up with 1:03:54 - There are no points awarded for difficulty

We're back with an absolute banger of an episode - Capital Returns! The core idea behind Capital Returns is that high returns tend to attract more capital, aka competition, so over time what may have been an incredibly profitable company can deteriorate into a commoditized business. This is a crucial insight for both operators and investors alike. In the episode, we discuss different ways to take advantage of the capital cycle, such as Sam Zell's grave dancer playbook and the scaled economies shared framework that Costco operates under. We also touch on how ever-changing tech businesses can sometimes avoid the pernicious effects of the capital cycle, usually by establishing a mission-critical operating system for their end customer or by benefitting from a viral network effect. It's been a long time since we've been back, and we have a big surprise for you in this one, so we hope you enjoy it! ---- Capital Returns: Investing Through the Capital Cycle 2002 to 2015 - Marathon Asset Management ---- Recommendation of the Week: Taming the Mammoth - Why You Should Stop Caring What Other People Think ---- The Web of Ideas: Capital Returns (my notes on the book) ---- Show Notes: 2:50 - The big reveal 4:39 - High returns tend to attract competition 6:56 - Zeckendorf's first time dealing with oversupply 10:33 - The widget manufacturer 15:58 - Competition KILLS returns 22:02 - The misaligned incentives behind banking 28:24 - Sam Zell's grave dancer approach to investing 35:07 - Costco: the ultimate example of scaled economies shared 48:29 - If change is the only constant in technology, how do we protect ourselves??? 56:28 - The sudden winners of today can just as easily become the losers of tomorrow

Mike Michalowicz's book, Profit First, provides a simple yet foundational idea: take your profit first. His theory flips the traditional sales - expenses = profits formula on its head, by telling small business owners to take their profit before paying expenses. He shares how we are all hardwired to spend what's available to us, so we must put those profit dollars out of sight, out of mind. By using Michalowicz's Profit First framework, thousands of entrepreneurs have already turned their cash-eating monsters into money-making machines. Over time, these businesses will see their profits accumulate into hefty war chests, enabling them to hire top talent and actually grow on a consistent basis. If you are an entrepreneur, investor, or owner-operator of any business, I think you'll find plenty of useful ideas in here. ---- Profit First - Mike Michalowicz ---- Recommendation of the Week: Palmer Luckey - Invest Like the Best ---- The Web of Ideas: Profit First (my notes on the book) ---- Show Notes: 4:17 - The Problem 8:08 - You can't always grow your way into profits 13:14 - Optimize for DURABILITY of consistent growth 20:40 - The key to profits? It's as simple as buying smaller plates... 25:36 - Implementation 29:30 - Adopt a question-everything mentality 36:14 - Pay peanuts and you get monkeys 40:29 - The best thing money can buy you is freedom

This episode will cap off our month-long deep dive into the mind of David Ogilvy. We'll explore how he used internal memos to ingrain his powerful ideas onto his team, such as becoming a company of giants and the teaching hospital of the advertising world. Ogilvy also shows us his playbook for excellence in any domain, which involves studying the precedents, doing the work, and relentlessly editing until your craft is perfect. Whether you are an ad man or not, this episode will be packed with insights for you. As Ogilvy says, it'll appeal to those of you who've "installed a generator" within. Join me in studying a true learning machine, David Ogilvy! ---- The Unpublished - David Ogilvy ---- Recommendation of the Week: Jury Duty ---- The Web of Ideas: The Unpublished (my notes on the book) ---- Show Notes: 2:47 - If you ever find a man who is better than you are - HIRE HIM 6:21 - Become a company of GIANTS 7:50 - Rockefeller: no one does anything if he can get anybody else to do it 10:33 - Hard work never killed a man 12:47 - Who's ready for a promotion? 15:12 - Ogilvy's excellence playbook 21:03 - How to write a memo 23:21 - Every ad should contribute to the long-term image of a brand 28:27 - Your reputation follows you 34:20 - Be a professional: study the greats who came before you, read every book on the subject, conduct your own professional research - simply, BE A PROFESSIONAL

This is my favorite book on David Ogilvy - it combines his memorable mantras with the stunning visual ads that established his legacy, creating a masterclass in effective advertising & leadership. If you are a high-achiever in any realm, you will find this episode inspiring. You will learn how Ogilvy consistently increased the quality of talent within his company, studied the greats who came before him, and differentiated his product offerings from those of his competitors. I learned A TON from this book and believe you'll find value in it as well. Enjoy! ---- Ogilvy on Advertising - David Ogilvy ---- Recommendation of the Week: Sam Zell - The Tim Ferriss Show ---- The Web of Ideas: Ogilvy on Advertising (my notes on the book) ---- Show Notes: 3:12 - Do your homework 7:39 - Promise, large promise, is the soul of an advertisement 16:34 - You aren't advertising to a standing army, you are advertising to a moving parade 19:01 - Who, do you suppose, is more likely to be right??? 22:22 - Become a company of giants 25:18 - It is suicide to settle for second-rate performance 27:43 - You have 5 seconds to catch their attention... 30:08 - The more facts you tell, the more you sell 35:02 - TV as the new dominant ad medium 39:15 - Differentiation is SURVIVAL 41:31 - What Proctor & Gamble gets right 48:17 - Why reinvent the wheel when the wheel is right in front of you? 55:35 - Your product is making people's lives better!

In this episode, we dive deeper into the mind of advertising legend, David Ogilvy. He shares with us how his endless pursuit of knowledge led him to the top of the advertising industry, a path that any high-achiever can emulate. Ogilvy gives us the keys to creating successful ad campaigns, such as offering the customer a benefit and packing the copy with facts - essential advice to entrepreneurs looking to sell more effectively. On the leadership side, Ogilvy equips us with many mantras that can be used to motivate our own troops, ranging from setting sky-high ambitions to overcoming complacency and "success disease". Lastly, Ogilvy describes how he attracted the best companies to become clients of his firm, by avoiding the pernicious winner's curse and breaking away from the misaligned incentives so common in his industry. I believe that we are ALL always selling something, whether it's a new product to potential customers or our talent to an employer, so this episode is a must-listen for everyone. ---- Confessions of an Advertising Man - David Ogilvy Modern Day "Long Copy" - Apple ---- I am deeply saddened by the Hamas terrorist attacks carried out against Israel last weekend. The way these terrorists murdered, raped, kidnapped, and tortured innocent civilians is absolutely barbaric and inhumane. I am praying for the safe return of those kidnapped and for peace in the region. For those looking to help, United Hatzalah is a great organization providing emergency relief services to those injured. If you'd like to learn more about the Israeli-Palestinian conflict and the evil of Hamas, I found these three pieces highly informative: War in Israel, When Things Fall Apart, and Jared Kushner on the Lex Friedman podcast. Stay safe and let's aim to be a light in this world. ---- Recommendation of the Week: Jesse Itzler - My First Million Pod ---- The Web of Ideas: Confessions of an Advertising Man (my notes on the book) ---- Show Notes: 2:25 - The good ones know their craft 6:10 - The key to success is to promise the consumer a benefit 12:29 - You're not advertising to a standing army, you're advertising to a moving parade 17:00 - Don't bunt. Aim out of the park. Aim for the company of immortals 24:49 - Search all the parks in all your cities, you'll find no statues of committees 28:21 - Avoid competition like the plague 32:54 - Align the incentives with your clients 36:56 - Invest in what you use 41:45 - Every ad is a contribution to the long-term brand image 47:15 - Writing potent copy: headlines and body 56:18 - Test everything 58:44 - The power of advertising

David Ogilvy is the godfather of the modern advertising industry. He started his agency, Ogilvy & Mather, at 38, and quickly catapulted to the top of the advertising profession. Today, we'll learn exactly how he did that. Through a combination of relentless persistence and "professional research", Ogilvy was deemed the king of advertising only a decade after entering the business. He used his long-form campaigns to create multiple industry leaders, from Rolls Royce to Shell to American Express. As he gained more success, Ogilvy started to leave an imprint on the entire industry, establishing the concept of a brand image. Within his own company, Ogilvy preached the value of developing talent, aiming to be the "teaching hospital" of the advertising world. Ogilvy has a way with words and is an excellent teacher of advertising principles. This episode ought to be useful for anyone looking to reach the top of their profession, build a world-class organization, or advertise effectively to their customers. ---- The King of Madison Avenue: David Ogilvy and the Making of Modern Advertising - Kenneth Roman Runnin' Down a Dream: How to Succeed and Thrive in a Career You Love - Bill Gurley ---- Recommendation of the Week: The Prestige - Christopher Nolan ---- The Web of Ideas: The King of Madison Avenue (my notes on the book) ---- Show Notes: 4:10 - A real-life Don Draper 7:38 - Driven by his father's failures and sibling jealousy 12:36 - Selling Aga cookers door to door 22:24 - An Obsession with advertising 26:19 - Seeking out the experts - Claude Hopkins and John Caples 30:03 - Work hard in the dark to shine in the light 37:21 - Describe the process technique with Rolls Royce 42:02 - Ogilvy becomes "the apostle of the brand image" 45:35 - Ogilvy & Mather will be the teaching hospital of the advertising world 48:36 - Winning over General Foods, Shell, & AMEX 53:30 - Devote your genius to making the cash register ring 1:00:24 - You must know it to the dollar to have an edge