David Rosenthal: belief

Transcript context

…e going to make a lot of money. He died on the job because he got electrocuted to death. She inherited the company and then she ran it. She's the teacher. The curriculum was terrible. It was terrible. The best thing, and this relates to what all we do for a living now which I could have never predicted, is there was a guy that—Charlie Munger says, you should read if you want to learn about incentives in a really difficult business, read Les Schwab's autobiography, which I did because Charlie told me to. I did an episode a long time ago. He's like, this guy made a ton of money in a really hard business, which is tires, oil changes, and stuff like that. The guy was coming into the class. He was going to donate like $3 million or $5 million to have a building named after him. He had one prerequisite. He goes, I want to talk to entrepreneurship students before I give you this money. I learned more in one hour from that dude than I did in two years on entrepreneurship because he would talk for 20 minutes and he's like, open up your questions. I lit them up with question after question after question. I remember it to this day just like the simple way. He was building his business in a private 80s and 90s. He's like, how did you know where to expand? He's like, we would pull the car registration data from the DMVs, and we would know how many car owners there were in this specific radius. Let's say we need 40,000 car owners in a three mile radius. Are there any other stores? Put a store right there, and they did that over and over and over and over again. He had ideas like that. Again, you learn through experience. That guy could teach us way more because he actually did this. I think, probably all three of us have an unintended impact on college entrepreneurship programs. I have a minor in entrepreneurship.…

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