What happens when one of the most legendary minds in tech delves deep into the real workings of modern AI? A 2-hour long masterclass that you don’t want to miss.

Bret Taylor, current chairman of OpenAI, unpacks why AI is transforming software engineering forever, how founders can survive acquisition (he’s done it twice), and why the true bottlenecks in AI aren’t what most think. Drawing on his extensive experiences at Facebook, Google, Twitter and more, he explains why the next phase of AI won’t just be about building better models—it’s about creating entirely new ways for us to work with them. Bret exposes the reality gap between what AI insiders understand and what everyone else believes.

Listen now to recalibrate your thinking before your competitors do. 

(00:02:46) Aha Moments with AI

(00:04:43) Founders Working for Founders

(00:07:59) Acquisition Process

(00:14:14) The Role of a Board

(00:17:05) Founder Mode

(00:20:29) Engineers as Leaders

(00:24:54) Applying First Principles in Business

(00:28:43) The Future of Software Engineering

(00:35:11) Efficiency and Verification of AI-Generated Code

(00:36:46) The Future of Software Development

(00:37:24) Defining AGI

(00:47:03) AI Self-Improvement?

(00:47:58) Safety Measures and Supervision in AI

(00:49:47) Benefiting Humanity and AI Safety

(00:54:06) Regulation and Geopolitical Landscape in AI

(00:55:58) Foundation Models and Frontier Models

(01:01:06) Economics and Open Source Models

(01:05:18) AI and AGI Accessibility

(01:07:42) Optimizing AI Prompts

(01:11:18) Creating an AI Superpower

(01:14:12) Future of Education and AI

(01:19:34) The Impact of AI on Job Roles

(01:21:58) AI in Problem-Solving and Research

(01:25:24) Importance of AI Context Window

(01:27:37) AI Output and Intellectual Property

(01:30:09) Google Maps Launch and Challenges

(01:37:57) Long-Term Investment in AI

(01:43:02) Balancing Work and Family Life

(01:44:25) Building Sierra as an Enduring Company

(01:45:38) Lessons from Tech Company Lifecycles

(01:48:31) Definition and Applications of AI Agents

(01:53:56) Challenges and Importance of Branded AI Agents

(01:56:28) Fending Off Complacency in Companies

(02:01:21) Customer Obsession and Leadership in Companies

Bret Taylor is currently the Chairman of OpenAI and CEO of Sierra. Previously, he was the CTO of Facebook, Chairman of the board for X, and the Co-CEO of Salesforce. 

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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Pierre Poilievre, leader of Canada’s Conservative Party, reveals a roadmap for restoring opportunity and unity across the country. From unleashing innovation by cutting red tape, to reigniting upward mobility and building a powerhouse economy, Poilievre’s message goes beyond borders. If you care about restoring opportunity, strengthening democracy, and securing a brighter future for North America, listen closely—Canada’s solutions might just inspire America’s renewal.

TRANSCRIPT

EN: https://fs.blog/knowledge-project-podcast-transcripts/pierre-poilievre-223/

FR: https://fs.blog/knowledge-project-podcast-transcripts/pierre-poilievre-223-francaise/

(01:41) Headline vs Reality

(03:55) From Opposition Party to Unifier

(07:05) Parenthood Shapes Priorities

(10:05) Differentiating from the Liberals

(15:04) Economic Value Creation in Canada

(18:08) WEF Opposition Stance

(25:27) Balanced Budget Plan

(28:15) Attracting Investments

(35:25) Productivity Gap Explained

(38:50) Tariffs Response Tactics

(41:10) Reducing US Dependency

(44:15) Interprovincial Trade Impacts

(45:40) "China”

(47:42) Media Accountability Challenges

(51:42) Digital Free Speech Protections

(55:10) Crime

(01:02:00) Access to Health Care

(01:06:15) A modern and effective Canadian military

(01:11:10) AI: balance innovation with protection

(01:12:49) How do we ensure that the government can be held accountable in a world where they might control information flow?

(01:14:10) Trust in government post-COVID

(01:15:56) Climate change

(01:18:50) Biggest misconceptions about Mr. Poilievre

(01:19:50) What Canadian success looks like

Thanks to ShipStation for supporting this episode: Get a 60-day free trial at www.shipstation.com/knowledgeproject.

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

Upgrade — If you want to hear my thoughts and reflections at the end of our episode, join our membership: ⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠ and get your own private feed.

Watch on YouTube: @tkppodcast

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Cornelius Vanderbilt was a force in 19th century America, playing a pivotal role in transitioning the U.S. economy from rural mercantilism to industrial corporate capitalism. Vanderbilt didn't just compete—he dominated; and didn’t just dominate one industry—he conquered three: ferries, steamships, and railroads. He understood that power lay in controlling infrastructure and not just operating within it. His cutthroat tactics were both feared and admired but his vision for what the economy could be was undeniable. 

This is the story of how Vanderbilt turned calculated aggression into an art form, how he endured more pain than his competitors, and how he built systems that outlived him. 

Learn the mindset, strategies, and brutal lessons behind his dominance; the game of business hasn’t changed as much as you think. 

(02:20) Prologue

(05:12) PART 1 - The Dutch Inheritance

(08:21) The Young Boatman

(12:30) Capitalizing on War

(15:27) General Merchant of the Sea

(19:29) PART 2 - The Meeting That Changed Everything

(21:48) The Steamboat Wars

(24:12) The Anti-Monopoly Crusader

(27:06) The Rise of the Commodore

(32:08) The Monopolist's Nemesis

(34:58) PART 3 - Sole Control

(37:28) Prometheus

(40:18) Star of the West

(44:06) Europe and Betrayal

(48:15) The Independent Line

(50:13) PART 4 - The Commodore’s Return

(51:55) Gray Eyed Man of Destiny

(53:36) The Conspiracy

(54:41) Finishing Walker

(55:54) Conquering the Seas

(58:13) America's Wealthiest Citizen

(60:47) PART 5 - Vanderbilt's Railroad Dominance

(01:01:59) The Path to Confrontation

(01:03:37) The Breaking Point

(01:04:43) The Power to Punish

(01:06:32) The Collapse

(01:07:50) The Silent Conquest

(01:08:57) The Consolidation

(01:10:54) The Legacy

(01:12:15) FINAL PART - Vanderbilt: The Architect of Modern American Business

(01:14:19) Reflections

This episode is for informational purposes only and most of the research came from reading The First Tycoon by T.J. Stiles and Tycoon’s War by Stephen Dando-Collins.

Check out highlights from these books in our repository, and find key lessons from Cornelius Vanderbilt here — fs.blog/knowledge-project-podcast/outliers-cornelius-vanderbilt

Upgrade — If you want to hear my thoughts and reflections at the end of all episodes, join our membership: ⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠ and get your own private feed.

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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Brookfield CEO Bruce Flatt reveals the investment philosophy behind building one of the world's largest alternative asset managers with over a trillion dollars under management. 

At the core of Brookfield's strategy is a disciplined focus on downside protection that has delivered 19% annualized returns over 30 years. Flatt identifies three major trends driving their investments: digitalization (including AI infrastructure), global energy transition, and reindustrialization as supply chains shift. The conversation explores Brookfield's approach to risk management, their expansion into insurance, and their meritocratic culture. When Shane presses for clarity on Brookfield's complex corporate structure, Flatt provides rare insights into how the organization's design creates both operational flexibility and investment opportunities. 

What separates Brookfield from competitors? Patient capital: the discipline to wait for extraordinary opportunities and the financial strength to act when others can't. 

If you want to understand how the smartest capital allocators think and what it takes to build something enduring, this episode is essential listening. 

Thanks to these sponsors for supporting our show: 

NordVPN: EXCLUSIVE NordVPN Deal ➼ nordvpn.com/KNOWLEDGEPROJECT. Try it risk-free now with a 30-day money-back guarantee 

Shopify: Sign up for your one-dollar-per-month trial period at shopify.com/shane. All lowercase.

ShipStation: Get a 60-day free trial at www.shipstation.com/knowledgeproject.

The opinions shared on this podcast belong solely to those expressing them. Hosts and guests may hold positions in the securities discussed. This podcast is intended to provide general information only and should not be considered financial advice. 

(00:02:56) Changes in Investing Over the Past 25 Years

(00:04:51) How Private Enterprise Has Built Our Tech Infrastructure

(00:07:08) Implications and Opportunities of Passive Investing

(00:09:08) Advantages of Private Companies

(00:12:36) Three Investment Themes

(00:15:11) Winners in Digitalization

(00:16:45) Application of Artificial Intelligence in Businesses

(00:21:44) Transition to Low-Carbon Energy

(00:25:24) Future of Data Centers

(00:27:32) De-globalization of Industry

(00:29:59) Implications of Manufacturing Repatriation

(00:31:11) Long-term Prospects for America

(00:36:20) Approach to Risk and Debt

(00:37:48) Impact of Interest Rates

(00:40:47) Managing Market Dislocations

(00:42:30) Long-term Investing Strategy

(00:45:06) History and Future of Brookfield

(00:47:55) Exploration of Private Markets and Insurance

(00:48:48) Investment Decision Process

(00:55:18) Understanding Brookfield's Structure

(00:59:40) Positioning of Brookfield's Businesses

(01:00:21) Talent and People Management at Brookfield

(01:02:58) Focus on Downside Protection

(01:05:03) Accountability in Investment Decisions

(01:06:32) Understanding Investment Cycles

(01:08:14) Learning and Training in the Organization

(01:09:06) Postmortem Analysis of Investments

(01:11:14) Consideration of Geopolitical Risks

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

Upgrade — If you want to hear my thoughts and reflections at the end of the episode, join our membership: ⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠ and get your own private feed.

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How do you turn 5,127 failures into a multi-billion-dollar empire? James Dyson turned dust into possibility, failure into discovery, and frustration into revolution.  

Dyson didn’t just build a better vacuum; he redefined a whole industry. Facing thousands of failed prototypes, crushing financial setbacks, and a dismissive industry that insisted a superior vacuum was impossible, Dyson transformed doubt into fuel that created an empire he still owns and operates today.

Dyson’s genius stretched far beyond engineering. He was a contrarian thinker whose natural state was to defy the experts. From reinventing hand dryers to fans and hairdryers, Dyson repeatedly turned mundane frustrations into game-changing products. His relentless curiosity and willingness to fail publicly set new standards for innovation. When competitors mocked him, he stayed focused. When patents were threatened, he defended fiercely. Dyson's story is one of unwavering persistence, unorthodox creativity, and the courage to trust his own instincts—even when everyone else doubted.   

This is the story of James Dyson. Learn how one decision can change everything for a whole family. 

This episode is for informational purposes only and is based on Against the Odds: An Autobiography by James Dyson. Quotes from Against the Odds and James Dyson’s Invention: A Life 

(02:35) Prologue: The Kitchen Floor Experiment

PART 1 - EARLY SPARKS OF TENACITY

(05:05) A Childhood of Resilience and Determination

(08:19) Gresham’s School

(11:25) From Art to Engineering: A Defiance of Convention

(14:58) A Mentor: Jeremy Fry

(17:37) Just Build It

(19:23) The Sea Truck

(22:16) Lessons From The Egyptians

(24:16) Misfit Mentality

PART 2: FIRST INVENTIONS AND HARD LESSONS

(26:48) Reinventing The Wheel(barrow)

(28:54) Popular Not Profitable

(30:56) Leaving Ballbarrow with Nothing

(34:09) History of the Vaccuum

(36:23) Cyclone in a Sawmill

(39:17) 5,127 Prototypes

(41:57) Industry Rejection

(44:14) Building the Business

PART 3: BUILDING AN EMPIRE

(48:15) Passion Over Profit

(50:04) Beyond Vacuums

(53:08) R&D Culture & Iterative Design

(55:44) Patent Wars & Legal Battles

(57:49) Value of Keeping Ownership

(59:59) Recap of Dyson’s Journey

(01:02:55) SHANE’S REFLECTIONS

Key lessons from James Dyson: fs.blog/knowledge-project-podcast/outliers-james-dyson

Upgrade — If you want to hear my thoughts and reflections at the end of all episodes, join our membership: ⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠ and get your own private feed.

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Most people date the wrong way. They chase the spark, mistake attraction for compatibility, and expect their partners to read their minds. Then they wonder why relationships don’t last. Logan Ury thinks about dating differently. As the Director of Relationship Science at Hinge, she’s spent years studying what actually makes relationships work. Her findings will change the way you think about attraction, communication, and commitment. In this conversation, Logan reveals why the spark is overrated, how to optimize your dating profile, and the one thing (actually, 8) you must do after every first date. We break down attachment theory, orbiting, polyamory, and having hard conversations in a healthy way. We get answers to questions like: "what’s an appropriate age gap?" and "what to say if you’re not interested after a date?" Plus, Logan shares how she made the decision to be with her husband and the importance of “other significant others.”   

If you want to stop wasting time on the wrong people and start building something real, this episode is for you.  

(2:49) First Dates and the Slow Burn

(8:07) The Post-Date 8

(14:30) Dating Like a Scientist

(15:50) The Height thing...

(18:56) The Spark vs Lust

(26:35) Fear of Rejection

(29:01) Understanding Attachment Theory

(39:20) Navigating Online Dating

(41:36) Effective Communication in Dating

(51:58) Texting Etiquette

(01:05:33) Dealing with Rejection

(01:08:44) Polyamory

(01:13:32) Orbiting

(01:30:45) Logan's Story of Meeting Her Husband

(01:37:12) Navigating Crucial Decision Points in Relationships

(01:41:48) Having Difficult Conversations in Relationships

(01:50:15) Other Significant Others

(01:59:05) Breaking Up Respectfully

(02:02:08) Tips for Creating Dating Profiles

Logan Ury is a behavioral scientist, dating coach, and the Director of Relationship Science at Hinge. She’s the bestselling author of How Not to Die Alone. 

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

Upgrade — If you want to hear my thoughts and reflections at the end of the episode, join our membership: ⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠ and get your own private feed.

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Most people hear "Estée Lauder" and think of cosmetics—lipstick, perfume, face cream. But the real story isn’t just about makeup—it’s about a woman being an unstoppable force.

Estée Lauder didn’t just build a beauty brand; she rewrote the rules of an industry. She turned rejection into fuel, defied industry gatekeepers, and transformed a homemade face cream into a multi-billion-dollar global powerhouse. 

When department stores refused to stock her products, she created a demand they couldn’t ignore. When experts said women wouldn’t spend $115 on face cream, she proved them wrong. When competitors copied her formulas, she didn’t fight them—she outmaneuvered them. Her real genius wasn’t in chemistry, but in understanding human psychology, persistence, and the power of storytelling. 

This is the story of Estée Lauder.

Make sure to stick around at the end for my reflections and thoughts.

(05:26) Chapter 1 - The Early Years

(08:17) Chapter 2: From Kitchen to Department Stores: The Beauty Revolution

(09:04) First Break: House of Ash Blondes

(11:58) Married

(13:35) Chapter 3: Marketing Genius and Brand Building: The Perfect Moment

(15:20) The Power of a Gift

(16:51) Tell-A-Woman

(19:04) Department Store Breakthrough

(21:03) Chapter 4: The Expansion Era: The Key to Success

(26:09) Tell-Every-Woman

(28:42) Beyond Department Stores

(34:58) Chapter 5: Youth Dew

(36:37) Creating a New Category

(39:35) Success Breeds Competition

(41:16) Knowing what not to do

(44:06) Chapter 6: Beyond America: London Calling

(45:53) A Lesson in Brand Building

(47:43) The French Accident

(48:38) The Art of Adaptation

(49:49) Chapter 7: New Categories: Growing the Whole Pie

(52:08) The Clinique Revolution

(53:28) A New Kind of Marketing

(56:13) Chapter 8: The Lauder Philosophy: Business as Obsession

(56:25) Core Principles

(58:55) The Human Touch

(01:00:38) SHANE’S REFLECTIONS

This episode is for informational purposes only and is based on Estée Lauder’s incredible 1985 autobiography Estée: A Success Story.

Upgrade — If you want to hear my thoughts and reflections at the end of all episodes, join our membership: ⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠ and get your own private feed.

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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While Silicon Valley chases unicorns, Josh Wolfe hunts for something far more elusive: scientific breakthroughs that could change civilization. As co-founder and managing partner of Lux Capital, he's looking for the kind of science that turns impossible into inevitable. Josh doesn’t just invest in the future—he sees it coming before almost anyone else. 

In this conversation, we explore: 

• The rapid evolution of AI and potential bottlenecks slowing its growth 
• The geopolitical battle for technological dominance and rise of sovereign AI models 
• How advances in automation, robotics, and defence are shifting global power dynamics 
• Josh's unfiltered thoughts on Tesla and Elon Musk 
• AI's revolution of medical research 
• Parenting in a tech-dominated world 
• How AI is forcing us to rethink creativity, intellectual property, and human intelligence itself 
• Why the greatest risk isn't AI itself—but our ability to separate truth from noise 

Despite the challenges ahead, Josh remains profoundly optimistic about human potential. He believes technology isn't replacing what makes us human—it's amplifying it. This episode will challenge how you think about innovation, risk, and the forces shaping our future. If you want to stay ahead of the curve, you can't afford to miss it. 

Josh Wolfe co-founded Lux Capital to support scientists and entrepreneurs who pursue counter-conventional solutions to the most vexing puzzles of our time. He previously worked in investment banking at Salomon Smith Barney and in capital markets at Merrill Lynch. Josh is a columnist with Forbes and Editor for the Forbes/Wolfe Emerging Tech Report. 

(00:00:00) Introduction

(00:02:46) Current Obsessions

(00:05:11) AI and its Limitations

(00:10:58) Memory Players in AI

(00:13:27) Human Intelligence as a Limiting Factor

(00:15:38) Disruption in Elite Professions

(00:17:15) AI and Blue-Collar Jobs

(00:18:29) Implications of AI in Coding

(00:19:40) AI and Company Margins

(00:25:48) AI in Pharma

(00:26:44) AI in Entertainment

(00:28:04) AI in Scientific Research

(00:33:31) AI in Patent Creation

(00:34:49) AI in Company Creation

(00:35:33) Discussion on Tesla and Elon Musk

(00:40:54) AI in Investment Decisions

(00:42:20) AI in Analyzing Business Fundamentals

(00:45:27) AI, Privacy, and Information Gods

(00:53:04) AI and Art

(00:56:43) AI and Human Connection

(00:58:22) AI, Aging, and Memory

(01:00:46) The Impact of Remote Work on Social Dynamics

(01:03:18) The Role of Community and Belonging

(01:05:44) The Pursuit of Longevity

(01:11:58) The Importance of Family and Purpose

(01:14:18) Information Processing and Workflow

(01:26:03) Investment in Military Technology

(01:28:09) Global Conflict and Military Deterrence

(01:31:28) Information Warfare

(01:32:32) Infiltration and Weaponization of Systems

(01:37:06) Infrastructure Maintenance and Growth

(01:38:27) DOGE Initiative

(01:40:09) Attracting Capital and Global Competitiveness

(01:43:16) Attracting Talent and Immigration

(01:45:42) Designing a System from Scratch

(01:47:30) AI and Intellectual Property

(01:51:56) The Fear of AI

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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He was the strangest titan America ever produced: a whisper-quiet banker who turned systematic thinking into a superpower, building an industrial empire while barely raising his voice above a murmur. Andrew Mellon's story isn't just about money—it's about how patience, observation, and positioning can create more wealth than charisma ever could. But when the Great Depression hit, the very qualities that made him rich made him the perfect villain for a nation demanding change. 

Whether you're building a business, investing in the future, or seeking insights on strategic decision-making, Mellon's story reveals the power of patience, positioning, and playing the long game. 

(2:25) Prologue: The Quiet Titan

(4:20) Part 1 - The Judge's Son

(6:36) Benjamin Franklin's Blueprint

(8:53) The Pittsburgh Promise

(10:45) Andrew's Early Years

(13:11) Part 2 - Building the System

(14:23) The Banking Foundation

(17:09) Panic Creates Opportunity

(20:09) Andy at the Wheel

(22:05) Opportunity in Aluminum

(24:10) The Mellon System

(27:12) Connections Create Power

(29:02) Reinvesting Success

(30:51) Staying in the Shadows

(33:28) Part 3 - The Private Kingdom

(34:52) A Broken Heart

(36:56) Science Meets Industry

(39:35) Preparations for War

(41:39) The Silent Empire Strikes

(44:04) Part 4 - Washington's Banker

(45:58) The Banker Takes Command

(47:49) The Banker's Paradox

(50:27) The Silent Man Learns to Speak

(52:03) Part 5 - The Fall

(53:56) 1928

(55:25) Black Thursday

(57:23) When Strength Becomes Weakness

(59:58) Roosevelt's Vendetta

(1:02:48) The Silent Man Shouted Down

(1:05:01) The Final Battle: Mellon's Tax Trial

(1:09:04) The End of an Era

(1:10:14) Epilogue - The Final Gift

(1:11:44) Thinking Long Term

This podcast is for information purposes only and draws primarily from two foundational books: David Cannadine's 'Mellon: An American Life', the first comprehensive published biography of Andrew W. Mellon, which masterfully chronicles his journey from shy Pittsburgh boy to industrial titan, Treasury Secretary, and philanthropist. The second source, 'Thomas Mellon and His Times', written by Andrew's father Thomas Mellon himself provides invaluable firsthand insights into the immigrant experience and the formation of the Mellon family's business philosophy in America. If this story captured your interest, we highly recommend both works – Cannadine's for its thorough examination of Andrew's profound impact on American business, politics, and philanthropy, and Thomas Mellon's autobiography for its intimate portrait of the family's rise from immigrant farmers to financial powerhouses in both nineteenth- and twentieth-century Pittsburgh. 

Upgrade — If you want to hear my thoughts and reflections at the end of the episode, join our membership: ⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠ and get your own private feed.

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Imagine leaving a six‐figure Wall Street salary behind to chase a single, daring idea. In this episode, David Heacock shows you how he turned a basic product into a $250M empire. At 29, he left Wall Street to bet on air filters. That bet transformed into Filterbuy, now a $250 million direct-to-consumer manufacturer serving more than 7 million customers through a ruthlessly efficient operation. Today we talk about what actually matters when building a business, balancing obsession with family life, selling on Amazon, what he’d do differently if starting over, and the freight decision he calls his biggest mistake. Whether you’re starting a business, scaling one, or simply looking for insights on hiring, managing, or making bold decisions, David shares the lessons that helped him build his empire. 

David Heacock is the founder and CEO of Filterbuy. Before revolutionizing the air filter industry, he traded options at Goldman Sachs from 2005-2012. 

If you’re driven by bold decisions and value hard-won lessons, this conversation is your playbook. Don’t miss out on the insights that could redefine your own path to success.

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

Upgrade — If you want to hear my thoughts and reflections at the end of the episode, join our membership: ⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠ and get your own private feed.

Watch on YouTube: @tkppodcast

(00:02:56) David's Journey to Goldman Sachs 

(00:06:07) Committing to Entrepreneurship 

(00:07:35) The Power of Obsession 

(00:10:08) The Decision to Expand Geographically 

(00:12:55) Challenges in Building the First Plant 

(00:18:58) Management Level Hiring 

(00:22:41) Studying Operating Systems for Companies 

(00:24:49) The Nuances of Hiring 

(00:25:53) External Accountability 

(00:29:37) Adapting Business Operating Systems 

(00:30:13) The Role of a Chief of Staff 

(00:31:03) Building Department-Specific Operating Models 

(00:32:56) Articulating the Company's Mission and Values 

(00:44:19) Understanding Marketing and Branding 

(00:47:10) The Strategy Behind Intent-Based Marketing 

(00:52:13) The Decision to Enter Retail 

(00:57:26) Success in Retail and Customer Acquisition 

(00:58:19) Diversifying Market Segments 

(00:59:13) Competitive Advantage Over Other Brands 

(01:01:07) The Logistics Aspect of the Business 

(01:04:25) Defining Direct-to-Consumer Brands 

(01:08:39) Technical Challenges and Overcoming Setbacks 

(01:11:46) Core Personal Traits for Success 

(01:16:37) The Power of Obsession Over Willpower 

(01:17:46) Facing the Hardest Moments in Business 

(01:26:36) The Decision to Enter the Freight Business 

(01:30:48) Diversifying into the HVAC Service Business 

(01:34:51) The Future of HVAC Service Business 

(01:36:01) Personal Branding and Business Growth 

(01:37:23) The Role of Marketing and Operations 

(01:38:48) Contrasting Business Models: Private Equity 

(01:43:00) The Importance of Mission and Vision 

(01:47:12) Balancing Obsession and Family Life 

(01:53:44) The Dangers of Lifestyle Creep and Maintaining Financial Stability 

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I’ve learned as much from reading biographies as from interviewing amazing people. That’s why we’re starting 'Lessons from Outliers.'

Every other week, we'll study an outlier who did remarkable work. From industrialists who reimagined commerce to the irreverent personalities who challenged the foundations of their fields, we'll explore what they did and how they did it. We can learn something from everyone.  

We're starting Outliers with Timothy Eaton, a Canadian name that might not be familiar to many listeners today, but his innovations fundamentally changed retail and how we shop. This episode is about how he built that empire, the principles that drove its success, and the forces that eventually brought it all crashing down.

Whether you're building a business, leading a team, or trying to understand how great companies rise and fall, Timothy Eaton's story offers timeless lessons about innovation, trust, and the true price of success. You'll learn why even the mightiest empires can crumble when they forget the principles that built them and why success—no matter how massive—must be earned and re-earned daily. 

(01:55) Introduction

(05:04) The Vision

(06:16) Timothy’s Early Years

(09:28) The System

(12:17) The Innovation Engine

(14:18) The Scale Game

(18:08) The Platform Play

(19:32) The Leadership Philosophy

(20:48) The Succession

(22:21) Retail as Entertainment

(23:14) The Western Expansion

(25:12) Building the National Network

(26:05) Creating the Corporate Family

(26:43) The Pinnacle of Power

(27:43) The Inherited Crown

(28:33) The Comfortable Plateau

(31:33) The Weight of Tradition

(33:12) The Profit Paradox

(34:02) The Identity Crisis

(34:51) The Final Chapter

This podcast is for information purposes only and draws primarily from two excellent books: ‘The Eatons: The Rise and Fall of Canada's Royal Family’ by Rod McQueen, which chronicles the Eaton family history and the company’s journey from beginning to end, and ‘Timothy Eaton and the Rise of His Department Store’ by Joy L. Santiuk, which focuses on the founder’s life.

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