Thread by @FoundersPodcast

Warren Buffett read Jim Clayton's autobiography (First A Dream) and then bought Jim's company for $1.7 billion in cash.

I just finished reading Jim's book.

Here is a thread with my highlights:

I learned that certain concepts are ageless, no matter what century we're in.

Self-discipline. Willpower. Perseverance. Realizing that disappointment is not defeat. Knowing that problems often present opportunities. Adversity breeds resilience.

It is never smart to shine a light on your competitor. Not even a candlelight.

Shoestring operations offer tremendous opportunity. You have no choice but to learn everything.

Spending time with all the seemingly boring details of a business often pays off– and sometimes leads to opportunity.

Economists have predicted 29 of the last 6 recessions.

I learned something profitable: Forget those things that give you momentarily satisfaction. Look at the long term. Defer profits for something more substantial. Pass up the plastic toy car and invest your capital.

If you are a salesperson – and all of us are – always remember that we have two ears and one mouth.

Business – like flying – can be counterintuitive. Sometimes the last thing you should do, is the first thing you feel you should do.

If you want to know everything I learned from reading Jim's book you can listen to Founders # 91. The podcast is available wherever you listen to podcasts and also on the web here:

founders.simplecast.com/episodes/91-ji…