The Knowledge Project

This is the story of K.C. Irving, the man who refused to be stopped.

When a railway raised his shipping costs, he bought a ship. When oil suppliers tried to squeeze him, he built a refinery. Whenever someone told him no, he found a way. From his father’s general store in a small New Brunswick town, he built an empire of roughly 300 companies.

How do you beat competitors with more money, more people, and a head start?

You’ll see how he won customers the big companies ignored, why he kept expanding during the Great Depression, and why a man who owned ships and a refinery still cared about clean bathrooms and one customer’s cold house. Shane Parrish tells the story of how Irving built his businesses and what it took to keep them in his hands.

But the bigger he got, the bigger the fights became. He spent his life making sure no one could push him around. Eventually he got so big governments wanted to rein him in.

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Chapters:

(00:00) Introduction
(02:40) Thrown Out of Town at Fourteen
(07:52) How a Caterpillar Almost Destroyed Everything
(10:56) The Hole in Front of the Store
(16:01) The Great Gasoline War
(21:18) The Year Ford Nearly Ruined Him
(25:05) The Question He Asked for Sixty Years
(27:10) How He Scaled Up During the Depression
(36:05) The Insult That Pushed Him Into Politics
(41:08) The Operational Secret to Unmatched Control
(49:27) How K.C. Taught His Sons Business
(53:27) Don’t Argue with Your Coat On
(59:09) Why Winning 96% Wasn't Good Enough
(1:08:32) The Four-Word Answer That Shocked BP
(1:30:30) The One Project He Couldn't Control
(1:35:20) The Man Who Owned Every Newspaper
(1:39:25) Mr. Irving Goes to Ottawa
(1:45:16) Too Expensive to Die in Canada
(1:50:00) The Verdict
(1:58:02) Epilogue

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Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

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Follow Shane Parrish:

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Steven Kotler is a bestselling author and the executive director of the Flow Research Collective, where he studies the science of peak performance.

Most of us have felt it. Hours disappear, everything else fades away, and the work seems to do itself. But what’s actually happening in those moments, and can you make them happen on purpose?

Kotler has spent decades studying flow, and he makes the case that it’s far more trainable than most people think. We talk about what brings it on, how hard a task should be before it pulls you in, and why the hobby you gave up as an adult might matter more than you realize.

We also get into what frustration is really telling you when you’re learning, how play compares with practice, how to focus on work you’d rather not be doing, and how to think clearly when there’s more information than ever and fewer people checking it.

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Chapters:

(0:00) Intro

(0:10) The Most Addictive State on Earth

(0:38) Signs You're in Flow (Most People Miss These)

(1:51) The Real Secret to Peak Performance

(3:03) The Hidden Biology Behind Flow and Focus

(4:09) How to Get Into a Flow State

(5:31) Why You Need One "Flow Activity"

(7:18) The Hidden Thing Blocking Your Flow

(7:45) The Burnout Mistake High Performers Make

(8:50) Unexpected Flow Triggers

(12:02) Why Willpower Won't Stop Distractions

(15:34) Why ADHD Can Be a Flow Advantage

(23:20) The #1 Way to Increase Performance

(25:48) The Motivation Myth Holding You Back

(27:26) Why Spite Is a Dangerous Motivator

(30:44) The Best Mental State for Learning

(33:03) Why Frustration Helps You Learn

(35:41) The Daily Habit That Boosts Flow Most

(38:53) The Thinking Mistake Almost Everyone Makes

(50:25) The Moment Your Brain Learns Best

(57:31) The Surprising Way to Relieve Autoimmune Symptoms

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Follow Steven Kotler:

X: https://x.com/steven_kotlerhttps://x.com/steven_kotler

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Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

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Follow Shane Parrish:

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Insta: ⁠⁠https://www.instagram.com/farnamstreet/⁠⁠

LinkedIn: ⁠⁠https://www.linkedin.com/in/shane-parrish-050a2183/⁠⁠

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Ryan Serhant is a real estate broker, founder of SERHANT., and star of Bravo’s Million Dollar Listing New York and Netflix’s Owning Manhattan.

He explains how to sell without making people feel sold to: build a connection, help first, and earn the right to ask. He also breaks down the psychology of attention and persuasion, showing how to get people's attention, hold it, and turn it into business.

We explore why he rejects “fake it till you make it,” how he approached his Million Dollar Listing audition as the person he wanted to become, and why ego gets in the way of closing deals.

Ryan explains his time management framework of treating each day as a bank of 1,000 minutes changed the way he works, and why success can still feel insufficient after you achieve all of your dreams.

Enjoy

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(00:00) Intro

(02:19) Get Chosen Before You're Established

(10:03) Why Sellers Should Take Acting Classes

(11:11) What Is Embarrassment Costing You?

(12:28) The 1,000 Minutes a Day Framework

(16:26) Why Buyers Resist Your Pitch

(20:57) Are You Giving Up Too Soon?

(21:39) How to Use Google Alerts to Land Leads

(23:21) The Craziest Deal in Serhant History

(31:21) How to Handle Ego in Negotiations

(33:02) Your Next Move at Rock Bottom

(38:56) Why Attention Isn't Making You Money

(43:11) Find Clients Where Nobody Knows You

(44:55) Why Strangers Ignore Your Offer

(46:51) What Is Success Costing You?

(52:03) The Excuse That Costs You Respect

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Follow Ryan Serhant: https://www.instagram.com/ryanserhant

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+ Members get the longer, extended version of this conversation, with additional content not included in the public release.Learn more: https://fs.blog/membership/

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Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

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LinkedIn: ⁠⁠https://www.linkedin.com/in/shane-parrish-050a2183/⁠⁠
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I'm excited to share this previously unreleased 2022 conversation between Charlie Munger and Todd Combs.

As with any Munger talk, the subjects are both deep and wide. You'll learn how Munger recognized people worth betting on, chose problems worth solving, and turned a long attention span into an unfair advantage.

A special thank you to the Singleton Foundation, Todd Combs, and William Thorndike for giving me the permission to share this with you. You can find a link to the full transcript here.

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Chapters:

(00:00) The Unreleased Charlie Munger Recording

(01:14) The Exceptional Mind of Henry Singleton

(03:51) Why Munger Ignored Singleton's Dying Wish

(04:51) The Wooden Lesson Most Managers Never Learn

(06:30) The Career Path Munger Almost Took

(10:43) The Childhood Memory That Shaped Munger's Worldview

(16:00) The Strange Place Munger Looked for Inspiration

(22:31) The Best Number of Investments to Make

(30:20) What Great Investing Actually Costs You

(35:16) The Index Fund Risk Nobody Talks About

(37:00) The Lucky Break Behind Rockefeller's Empire

(42:26) The Book Every MBA Should Read

(44:57) The Odds of a Major Calamity

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Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

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Follow Shane Parrish:

X: ⁠⁠⁠⁠⁠⁠⁠https://x.com/shaneparrish⁠⁠

Insta: ⁠⁠https://www.instagram.com/farnamstreet/⁠⁠

LinkedIn: ⁠⁠https://www.linkedin.com/in/shane-parrish-050a2183/⁠⁠

-----

Thank you to the sponsors for this episode:

+ See how Stripe can power what’s next for your business at stripe.com
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Bill Ackman is the founder and CEO of Pershing Square Capital Management, one of the most closely watched investment firms in the world.

In this conversation, he breaks down how he tells the difference between real innovation from hype, what he looks for before making a billion-dollar investment, and why he sold Netflix—and later bought it back. He also shares the mistakes that reshaped his investment process and his plan to build a modern-day Berkshire Hathaway.

Bill also opens up about something far more personal: his daughter Lucy’s sudden brain hemorrhage, the hours before surgery, and her ongoing recovery. He describes running his business from a hospital room and the institute he and his wife are building to help other families facing similar challenges.

Enjoy!

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Chapters:

(00:00) Intro

(00:53) The Night His Daughter Nearly Died

(08:49) His Plan to Rethink Brain Recovery

(16:15) Could Her Ring Have Raised the Alarm?

(17:07) How He Holds It Together

(23:17) How Bubbles Pull You In

(23:49) Is Venture in a Bubble?

(25:23) When Easy Money Runs Out

(28:05) He Hated the Idea. He Invested.

(30:05) Who Actually Profits From AI?

(35:53) The Rules He Carved in Stone

(39:15) The Trade He Won't Make Again

(42:02) Why He Consults "Dr. Claude"

(46:14) Waiting for a Cheaper Market?

(48:20) Netflix: Why He Changed His Mind

(51:36) Howard Hughes and The Assets Nobody Wanted

(53:22) What If You Owned a City?

(01:00:02) Berkshire's Most Overlooked Advantage

(01:04:36) From Watch Buyer to Company Owner

(01:09:42) How He Judges CEOs in an Hour

(01:14:19) What's Left to Achieve at 60?

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Follow Bill Ackman:

X: ⁠https://x.com/BillAckman⁠

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Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

------

Follow Shane Parrish:

X: ⁠⁠⁠⁠⁠⁠⁠https://x.com/shaneparrish⁠⁠

Insta: ⁠⁠https://www.instagram.com/farnamstreet/⁠⁠

LinkedIn: ⁠⁠https://www.linkedin.com/in/shane-parrish-050a2183/⁠⁠

-----

Thank you to the sponsors for this episode:

+Applovin: Launch your first AppLovin campaign and grow your business: ⁠https://applovin.com/shane⁠

+HeyGen is a message-first AI video platform that helps people and AI agents turn ideas into professional video in minutes. Try for free at ⁠https://www.heygen.com/tkp⁠

+Matic: the robot vacuum that does it all—grab yourself a year of free bags here. ⁠http://maticrobots.com/shaneparrish⁠

+LMNT: My go-to zero sugar electrolytes — get a free LMNT Sample Pack here: ⁠https://DrinkLMNT.com/TKP⁠

-----

+ Members get the longer, extended version of this conversation, with additional content not included in the public release.Learn more: ⁠https://fs.blog/membership/⁠

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Note: ‍Shane and guests may hold positions in assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. Nothing in this conversation should be considered investment advice, financial guidance, or a recommendation to buy or sell any security. Always do your own due diligence or consult with a qualified financial advisor before making investment decisions.
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