#286 Warren Buffett and Charlie Munger

**David Senra** (0:00)
I want to tell you about a one time only limited event that I don't think you're going to want to miss. I am doing a live show with Patrick O'Shaughnessy from the Invest Like The Best podcast in New York City on October 19th. Patrick has interviewed over 300 of the world's best investors and founders for his podcast. I've read over 300 biographies of history's greatest entrepreneurs for my podcast. We'll be talking about what we learned from seven years of podcasting, sharing our favorite ideas and stories and doing a live Q&A. There will also be special event-only swag. If you live in New York City, I think it's a no-brainer. But if not, I think it's a great excuse to fly in. I've already heard from a bunch of people that bought tickets. They're flying in from other cities. Some people are flying in from other countries. That's setting the bar really high. So I will have at least four shots of espresso or four energy drinks before or during the show so we can make it a night that you'll never forget. If you're interested in attending this unique live event, I will leave a link down below. I highly recommend you get your tickets today. And I hope I get to see you in New York on October 19th. The presenting sponsor of this episode is Tiny. Tiny is the easiest way for you to sell your business. They provide straightforward cash exits for founders. This is the perfect episode for Tiny to sponsor because Tiny has been called the Berkshire of the internet. And the founder of Tiny, Andrew, has spoken about how the thinking of Warren Buffett and Charlie Munger has influenced the way that he is building Tiny. In fact, if you stick around to the end of this episode, the last six minutes is actually a masterclass on product differentiation from Warren Buffett. I compare the ideas that Warren writes about in his shareholder letters to Tiny's approach to building their business. One of the things I like about Tiny is the way they differentiate their offering compared to other people that buy businesses. Selling a business is usually a headache and a hassle. Selling to Tiny, it's the opposite. The process of selling your business to Tiny is very straightforward. You get in touch by going to tiny.com. You'll get a response within 48 hours. They'll make an offer within 7 days, and then they close within a month, and you get a bag full of cash. If you have a business that you want to sell now or in the future, make sure you go to tiny.com.
And one more quick thing before we jump into the episode, I want to tell you about this excellent podcast that I listened to this week. It is from one of my favorite podcasts, Invest Like The Best. If you are not already following Invest Like The Best in your favorite podcast player, make sure you search for Invest Like The Best and go ahead and press follow.
Look for the episode. It was published September 6th of 2022 It's episode 293 It is Mitch Lasky, The Business Of Gaming. Mitch has decades of experience in the video game industry. There's a lot of ideas that I think founders can learn from studying the early days of the gaming industry. As a matter of fact, Mitch Lasky just started a new podcast with my friend Blake Robbins. They're doing an eight part limited series called Game Craft. I will also leave that link below. I listened to the first two episodes of Game Craft. It is excellent. They go deep into the history of the video game industry. And I'll jump into the minds of Warren Buffett and Charlie Munger.
For the last five years, I've been writing a memo to myself.
I have found this to be an excellent way to learn. The memo is in the form of a discussion between four characters. It's a story about a fictitious seeker and his visit to the Library of Wisdom where he meets another fictitious character, the librarian, along with Warren Buffett and Charlie Munger. What has been reinforced in writing this memo is the efficiency, simplicity, clarity, and common sense of judgment that are the hallmarks of Buffett and Munger. Both have a remarkable ability to eliminate folly, simplify things, boil down issues to their essence, get right to the point, and focus on simple and timeless truths.
They are the Einsteins of business and wisdom.
If there is one goal of this book, it is to better understand how they think.
That is from the very brief introduction of the book that we talked about today, which is All I Want To Know Is Where I'm Going To Die, So I'll Never Go There, Buffett and Munger, A Study in Simplicity and Uncommon Common Sense, and it was written by Peter Bevelin.