David Rosenthal: belief

Transcript context

…It's so interesting that this story parallels the Warren Buffett story in so many ways, but the reasons that they're successful are different. Warren's is about understanding the value of compounding. It's not that Sam didn't, but it's that Sam was a salesman. He's a merchant. He's a retailer. He understands how to learn what people want, procure the thing in the way that they want it, and deliver that to them. They're different superpowers that manifested both in building early successful periodical distribution sub-companies. Warren basically stayed an entrepreneur. Sam is clearly this natural entrepreneur. When it comes time for graduation though, he decides, you know what, I think I'm just going to go get a regular job even though he's making so much money from his newspaper businesses. He interviews with two companies who recruit on campus, JCPenney and Sears. He goes with the offer from JCPenney. Which is interesting because Sears was the dominant retailer. Everyone bought everything from their homes including some homes from Sears.…

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