The Snowball: Warren Buffett and the Business of Life


Alice Schroeder - 2008
    The legendary Omaha investor has never written a memoir, but now he has allowed one writer, Alice Schroeder, unprecedented access to explore directly with him and with those closest to him his work, opinions, struggles, triumphs, follies, and wisdom. The result is the personally revealing and complete biography of the man known everywhere as “The Oracle of Omaha.”Although the media track him constantly, Buffett himself has never told his full life story. His reality is private, especially by celebrity standards. Indeed, while the homespun persona that the public sees is true as far as it goes, it goes only so far. Warren Buffett is an array of paradoxes. He set out to prove that nice guys can finish first. Over the years he treated his investors as partners, acted as their steward, and championed honesty as an investor, CEO, board member, essayist, and speaker. At the same time he became the world’s richest man, all from the modest Omaha headquarters of his company Berkshire Hathaway. None of this fits the term “simple.”When Alice Schroeder met Warren Buffett she was an insurance industry analyst and a gifted writer known for her keen perception and business acumen. Her writings on finance impressed him, and as she came to know him she realized that while much had been written on the subject of his investing style, no one had moved beyond that to explore his larger philosophy, which is bound up in a complex personality and the details of his life. Out of this came his decision to cooperate with her on the book about himself that he would never write.Never before has Buffett spent countless hours responding to a writer’s questions, talking, giving complete access to his wife, children, friends, and business associates—opening his files, recalling his childhood. It was an act of courage, as The Snowball makes immensely clear. Being human, his own life, like most lives, has been a mix of strengths and frailties. Yet notable though his wealth may be, Buffett’s legacy will not be his ranking on the scorecard of wealth; it will be his principles and ideas that have enriched people’s lives. This book tells you why Warren Buffett is the most fascinating American success story of our time.

Liftoff: Elon Musk and the Desperate Early Days That Launched SpaceX


Eric Berger - 2021
    Less than 20 years after its founding, it boasts the largest constellation of commercial satellites in orbit, has pioneered reusable rockets, and in 2020 became the first private company to launch human beings into orbit. Half a century after the space race it is private companies, led by SpaceX, standing alongside NASA pushing forward into the cosmos, and laying the foundation for our exploration of other worlds.But before it became one of the most powerful players in the aerospace industry, SpaceX was a fledgling startup, scrambling to develop a single workable rocket before the money ran dry. The engineering challenge was immense; numerous other private companies had failed similar attempts. And even if SpaceX succeeded, they would then have to compete for government contracts with titans such as Lockheed Martin and Boeing, who had tens of thousands of employees and tens of billions of dollars in annual revenue. SpaceX had fewer than 200 employees and the relative pittance of $100 million in the bank.In Liftoff, Eric Berger, senior space editor at Ars Technica, takes readers inside the wild early days that made SpaceX. Focusing on the company’s first four launches of the Falcon 1 rocket, he charts the bumpy journey from scrappy underdog to aerospace pioneer. We travel from company headquarters in El Segundo, to the isolated Texas ranchland where they performed engine tests, to Kwajalein, the tiny atoll in the Pacific where SpaceX launched the Falcon 1. Berger has reported on SpaceX for more than a decade, enjoying unparalleled journalistic access to the company’s inner workings. Liftoff is the culmination of these efforts, drawing upon exclusive interviews with dozens of former and current engineers, designers, mechanics, and executives, including Elon Musk. The enigmatic Musk, who founded the company with the dream of one day settling Mars, is the fuel that propels the book, with his daring vision for the future of space.Filled with never-before-told stories of SpaceX’s turbulent beginning, Liftoff is a saga of cosmic proportions.

Time to Make the Donuts


William Rosenberg - 2001
    A scrappy, Jewish kid from Boston who dropped out of school at age 14 to earn money for his family, Bill went on to become one of 20th century's greatest retail entrepreneurs. Innovative and indomitable, he built his multimillion dollar fortune on grit and determination. Embracing the food industry, horse racing, franchising and philanthropy he pursued his goals with the conviction of a visionary. In TIME TO MAKE THE DONUTS, Bill narrates his roller coast ride to success with characteristic humor, candor, wit and passion. His winning principles and philosophies have proven viable for more than seven decades and will inspire you to reach for your own life goals.

The Fish That Ate the Whale: The Life and Times of America's Banana King


Rich Cohen - 2012
    When he died in the grandest house in New Orleans sixty-nine years later, he was among the richest, most powerful men in the world. In between, he worked as a fruit peddler, a banana hauler, a dockside hustler, and a plantation owner. He battled and conquered the United Fruit Company, becoming a symbol of the best and worst of the United States: proof that America is the land of opportunity, but also a classic example of the corporate pirate who treats foreign nations as the backdrop for his adventures. In Latin America, when people shouted “Yankee, go home!” it was men like Zemurray they had in mind.            Rich Cohen’s brilliant historical profile The Fish That Ate the Whale unveils Zemurray as a hidden kingmaker and capitalist revolutionary, driven by an indomitable will to succeed. Known as El Amigo, the Gringo, or simply Z, the Banana Man lived one of the great untold stories of the last hundred years. Starting with nothing but a cart of freckled bananas, he built a sprawling empire of banana cowboys, mercenary soldiers, Honduran peasants, CIA agents, and American statesmen. From hustling on the docks of New Orleans to overthrowing Central American governments, from feuding with Huey Long to working with the Dulles brothers, Zemurray emerges as an unforgettable figure, connected to the birth of modern American diplomacy, public relations, business, and war—a monumental life that reads like a parable of the American dream.

The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success


William N. Thorndike Jr. - 2012
    Others might point to the qualities of today’s so-called celebrity CEOs—charisma, virtuoso communication skills, and a confident management style. But what really matters when you run an organization? What is the hallmark of exceptional CEO performance? Quite simply, it is the returns for the shareholders of that company over the long term.In this refreshing, counterintuitive book, author Will Thorndike brings to bear the analytical wisdom of a successful career in investing, closely evaluating the performance of companies and their leaders. You will meet eight individualistic CEOs whose firms’ average returns outperformed the S&P 500 by a factor of twenty—in other words, an investment of $10,000 with each of these CEOs, on average, would have been worth over $1.5 million twenty-five years later. You may not know all their names, but you will recognize their companies: General Cinema, Ralston Purina, The Washington Post Company, Berkshire Hathaway, General Dynamics, Capital Cities Broadcasting, TCI, and Teledyne. In The Outsiders, you’ll learn the traits and methods—striking for their consistency and relentless rationality—that helped these unique leaders achieve such exceptional performance.Humble, unassuming, and often frugal, these "outsiders” shunned Wall Street and the press, and shied away from the hottest new management trends. Instead, they shared specific traits that put them and the companies they led on winning trajectories: a laser-sharp focus on per share value as opposed to earnings or sales growth; an exceptional talent for allocating capital and human resources; and the belief that cash flow, not reported earnings, determines a company’s long-term value.Drawing on years of research and experience, Thorndike tells eye-opening stories, extracting lessons and revealing a compelling alternative model for anyone interested in leading a company or investing in one—and reaping extraordinary returns.

Keynes Hayek: The Clash that Defined Modern Economics


Nicholas Wapshott - 2011
    John Maynard Keynes, the mercurial Cambridge economist, believed that government had a duty to spend when others would not. He met his opposite in a little-known Austrian economics professor, Freidrich Hayek, who considered attempts to intervene both pointless and potentially dangerous. The battle lines thus drawn, Keynesian economics would dominate for decades and coincide with an era of unprecedented prosperity, but conservative economists and political leaders would eventually embrace and execute Hayek's contrary vision.From their first face-to-face encounter to the heated arguments between their ardent disciples, Nicholas Wapshott here unearths the contemporary relevance of Keynes and Hayek, as present-day arguments over the virtues of the free market and government intervention rage with the same ferocity as they did in the 1930s.

The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution


Gregory Zuckerman - 2019
    No other investor--Warren Buffett, Peter Lynch, Ray Dalio, Steve Cohen, or George Soros--can touch his record. Since 1988, Renaissance's signature Medallion fund has generated average annual returns of 66 percent. The firm has earned profits of more than $100 billion; Simons is worth twenty-three billion dollars.Drawing on unprecedented access to Simons and dozens of current and former employees, Zuckerman, a veteran Wall Street Journal investigative reporter, tells the gripping story of how a world-class mathematician and former code breaker mastered the market. Simons pioneered a data-driven, algorithmic approach that's sweeping the world.As Renaissance became a market force, its executives began influencing the world beyond finance. Simons became a major figure in scientific research, education, and liberal politics. Senior executive Robert Mercer is more responsible than anyone else for the Trump presidency, placing Steve Bannon in the campaign and funding Trump's victorious 2016 effort. Mercer also impacted the campaign behind Brexit.The Man Who Solved the Market is a portrait of a modern-day Midas who remade markets in his own image, but failed to anticipate how his success would impact his firm and his country. It's also a story of what Simons's revolution means for the rest of us.

Reset: My Fight for Inclusion and Lasting Change


Ellen Pao - 2017
    Pao sued a powerhouse Silicon Valley venture capital firm, calling out workplace discrimination and retaliation against women and other underrepresented groups. Her suit rocked the tech world--and exposed its toxic culture and its homogeneity. Her message overcame negative PR attacks that took aim at her professional conduct and her personal life, and she won widespread public support--Time hailed her as "the face of change." Though Pao lost her suit, she revolutionized the conversation at tech offices, in the media, and around the world. In Reset, she tells her full story for the first time.The daughter of immigrants, Pao was taught that through hard work she could achieve her dreams. She earned multiple Ivy League degrees, worked at top startups, and in 2005 was recruited by Kleiner Perkins, arguably the world's leading venture capital firm at the time. In many ways, she did everything right, and yet she and other women and people of color were excluded from success--cut out of decisive meetings and email discussions, uninvited to CEO dinners and lavish networking trips, and had their work undercut or appropriated by male executives. It was time for a system reset.After Kleiner, Pao became CEO of reddit, where she took forceful action to change the status quo for the company and its product. She banned revenge porn and unauthorized nude photos--an action other large media sites later followed--and shut down parts of reddit over online harassment. She and seven other women tech leaders formed Project Include, an award-winning nonprofit for accelerating diversity and inclusion in tech. In her book, Pao shines a light on troubling issues that plague today's workplace and lays out practical, inspiring, and achievable goals for a better future.Ellen K. Pao's Reset is a rallying cry--the story of a whistleblower who aims to empower everyone struggling to be heard, in Silicon Valley and beyond.

The King of Content: Sumner Redstone's Battle for Viacom, CBS, and Everlasting Control of His Media Empire


Keach Hagey - 2018
    Today he controls 80% of the voting shares of both Viacom and CBS, meaning that on a whim he could replace the entire boards of two public companies with a combined value of $40 billion. He spent decades performing meticulous estate planning so that his control would extend beyond the grave (which he loved telling reporters he would never lie in), constructing trusts designed to make it impossible for his heirs to sell his companies after he died. “Unless they start doing terribly,” he told the Wall Street Journal in 2012, “which they will not.”As readers will discover in The King of Content, Redstone’s confidence at the time was not misplaced. His life up to that point had been a story of exceeding expectations, climbing from the son of a linoleum peddler in the Jewish immigrant tenements of Boston’s West End to Harvard Law School, from the president of his father’s regional drive-in movie chain to the owner of Viacom, from a cerebral lawyer who shopped at Filene’s Basement to the owner of a coveted Hollywood studio, and ultimately, after the Viacom-CBS merger, to the controlling shareholder of the largest merged media entity in U.S. history. The credo that he coined and repeated for decades—“content is king”—turned out to be more true in the digital world than he could have ever guessed.Through exclusive interview and hundreds of pages of legal documents, Keach Hagey reveals the story behind the rise and fall of this remarkable figure, and the details of the family members fighting for control of his vast empire. At the heart of all the dueling lawsuits running through the Redstone family is Sumner Redstone’s tumultuous love life —particularly the fallout from his 2002 divorce from Phyllis, his wife of 52 years. More recently, Redstone’s life has become a tabloid soap opera thanks a lawsuit brought by one of his ex-girlfriends, Manuela Herzer. If the judge finds him incompetent, it will greatly increase the pressure on his trustees to begin the process of placing his controlling stakes in the hands of a seven-person trust who are expected to duke it out over what will become of the companies.Yet the appetite for Redstone’s assets is not what it would have been just a few years ago. While CBS—bolstered by its sports rights and the programming prowess of its former actor CEO, Les Moonves—has experienced modest declines in the age of cord-cutting, Viacom’s fall has been dizzying. Ratings at its biggest cable networks, which include MTV, Comedy Central, Nickelodeon, BET, and Vstrong, have been falling double-digit percentages for years. A few small cable companies, annoyed at Viacom’s demands for price hikes for their entire package of dozens of channels when ratings were so weak, dropped them altogether last year—a move widely viewed as a canary in the industry coal mine.There’s a corporate whodunnit here, as well as a series of mysteries that has captivated both the business and tabloid press. The answers lie in family feuds, corporate battles and alliances that go back decades, and will be laid bare in this ambitious book.

Display of Power: How Fubu Changed a World of Fashion, Branding and Lifestyle


Daymond John - 2007
    This brief glimpse into his life and mind is also a look at the new generation of CEOs. If you want to own your own business, or if you're a veteran executive who wants to know the mindset of this changing world, Daymond walks you through in Display of Power. A must read." -Russell Simmons, Media Mogul"Daymond John brings his signature style to the world of books, and Display of Power is a must-read for anyone wondering how a kid from Hollis, Queens could climb to the very top rungs of the fashion industry." -Montel Williams, TV Talk Show Host"This book details the amazing story of how FUBU inspired a new generation of entrepreneurs. The brand's success reaches across the globe to more then 60 countries. In Korea, FUBU is the #1 sports casual brand with over 70 stores. Daymond John's story is an inspiration to businessmen and women worldwide." -Soo Kee Lee Sr., Managing Director, Samsung Corporation"Display of Power is a remarkable read for all. Daymond John's story is more than how the fashion world was turned inside out by FUBU. It's a lesson on how to overcome obstacles in life and how to unleash your latent talents to make your dreams come true. It's also a very valuable tool for the business world-from start-up companies finding their way, to large companies where policies and politics can often smother the entrepreneurial spirit. And finally, it's a story of how the crucible of life experiences formed the pathway for John to create the exceptional lifestyle brand we know as FUBU!" -Don Franceschini, Vice Chairman [Ret.], Sara Lee Corporation

Delivering Happiness: A Path to Profits, Passion, and Purpose


Tony Hsieh - 2010
    You want to learn about the path I took that eventually led me to Zappos, and the lessons I learned along the way. You want to learn from all the mistakes we made at Zappos over the years so that your business can avoid making some of the same ones. You want to figure out the right balance of profits, passion, and purpose in business and in life. You want to build a long-term, enduring business and brand. You want to create a stronger company culture, which will make your employees and coworkers happier and create more employee engagement, leading to higher productivity. You want to deliver a better customer experience, which will make your customers happier and create more customer loyalty, leading to increased profits. You want to build something special. You want to find inspiration and happiness in work and in life. You ran out of firewood for your fireplace. This book makes an excellent fire-starter.

Too Good to Be True: The Rise and Fall of Bernie Madoff


Erin Arvedlund - 2009
    Why (and when) did he turn his legitimate business into a massive fraud? How did he fool so many smart investors for so long? Who among his family and employees knew the truth? The best person to answer these questions—and tell the full story of Madoff’s rise and fall—is Erin Arvedlund. In early 2001, she was suspicious of the amazing returns of Madoff’s hedge fund, which no one could explain. Her article in Barron’s, based on more than one hundred interviews, could have prevented a lot of misery, had the SEC followed up. But almost no one was willing to believe anything bad about “Uncle Bernie”—so nice, so humble, so generous to charities. As Arvedlund shows, Madoff was no ordinary liar, but a master of the type of lies people really wanted to believe. He kept his clients at a distance and allowed handsomely paid friends to solicit new ones for him; playing hard to get created an irresistible mystique. Now, Arvedlund tackles the tough questions that are still unanswered in the wake of Madoff’s collapse: Did he start off as a legitimate money manager or was he a fraud from the beginning? Were there indications of larceny at the very start of his career? Why did Madoff’s biggest supporters within the industry, such as Walter Noel of Fairfield Greenwich and Ezra Merkin of Gabriel Capital, ignore the warning signs that were so apparent? Did they choose to remain ignorant as long as their commissions rolled in? Why did SEC investigations fail to catch Madoff’s Ponzi scheme even though several people had voiced concerns about his operation? Who else helped Madoff carry out his scam? His family and close associates have denied any involvement, but was it possible for one man to engineer a heist of such scope? With her keen investigative eye, Arvedlund presents a sweeping narrative of Madoff’s career—from his youth in Queens, New York, to his early days working for his father-in-law, to his time as chairman of the NASDAQ exchange, and finally to infamy as the world’s most notorious swindler. She offers a riveting glimpse of Madoff the man—an indifferent student with little ambition who transformed himself into a star with a talent for trading, a reputation for innovation, and an unmistakably erratic nature. Readers will be fascinated by Arvedlund’s portrayal of Madoff, his empire, and all those who never considered that he might be too good to be true.

Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World


Tom Wright - 2018
    The dust had yet to settle on the global financial crisis in 2009 when an unlikely Wharton grad was setting in motion a fraud of unprecedented gall and magnitude--one that would come to symbolize the next great threat to the global financial system. Billion Dollar Whale will become a classic, harrowing parable about the financial world in the twenty-first century.

Nuts!


Kevin Freiberg - 1995
    By sidestepping "reengineering," "total quality management," and other management philosophies and employing its own brand of business success, Kelleher's airline has turned a profit for twenty-four consecutive years and seen its stock soar 300 percent since 1990.Today, Southwest is the safest airline in the world and ranks number one in the industry for service, on-time performance, and lowest employee turnover rate; and Fortune magazine has twice ranked Southwest one of the ten best companies to work for in America. How do they do it?With unlimited access to the people and inside documents of Southwest Airlines, authors Kevin and Jackie Freiberg share the secrets behind the greatest success story in commercial aviation. Read it and discover how to transfer the Southwest inspiration to your own business and personal life.

Conspiracy of Fools


Kurt Eichenwald - 2005
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