#341 Cornelius Vanderbilt (Tycoon's War)
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Cornelly, a vendor, was only interested in two things, making money and winning. Often he temporarily subject ted the need for the former to achieve the latter. Vender bill had an unquestionable thirst for conquest.

There was nothing he would not do to conquer cornely vender built and his enemy William Walker were alike in several respects. Both were opportunity sts. Both were prepared to suffer through short term university to achieve long term Victory.

Both venerable and Walker were loyal to those who were loyal to them, attracting lifelong allegiance from their closest associations. But that's where their similarities ended, will you? Walker, because of his limited resources, was prepared to give us trust too readily to achieve his ends, giving a trust to men who turned out to be liars, bragger and fools.

The cunning vandal able was a much Better judge of character. And here is where the two men defect most. If you crossed William Walker, he would ban issue from his world.

If you crossed vulnerable, he would set out to conquer you no matter how long I took. Ultimately, that conquest would be signified by a surrender. And that surrender would usually take the form of a deal at one time or another.

Vulnerability got into bed with all of his enemies if they were prepared to submit to him. And most of them were. The exception was willing Walker.

He was not a businessman. He achieved his shorter life successes using war and the law as his tools, and unlike vender, built other adversaries. When you, Walker was not afraid of vender built when he should have been.

That is an actor from the book talked about today, which is tycoons war, how cornely vender's invaded a country to overthrow america's most famous military adventure, who in turn had previously invaded multiple countries. That William Walker. And this work was writing by Stephen dando Collins.

So I first read this book about five years ago. And the great thing about the book is it's a bike phy. Really join bike phy venture bill and William Walker, but IT starts right in middle the story.

And so to give us background about the early life for currently, venture bill and William Walker, but the entire story, ninety percent of the book is about this war that happens when willing Walker invades nicaro minds, that becoming part, making yourself president of the country and then making this very fatal mistake. Taking some of corneas property and other business assets that corneas had in corpora. And so I would say out of all the people the united together on this podcast, I don't think there is in many cases, you know, there are some kind of historical quiver.

There's somebody, there's somebody there was very similar to that person that live before. Then maybe you were influencing use their ideas. I don't I can't think of a historical equivalent to invite able to me he's less of an entrepreneur r because the way he dominated so I mean, was obviously one of the best is to live.

But he was so powerful, influential and wealthy the most, like he was like A A sovereign I would could say, like when I think of corny is vanderbilts. Like, who would you compare people living today? I wouldn't think of other entrepreneurs, would think of people like at the state.

I think like, almost like a vlama. Putin is actually the person that comes to mind. And this sentence gives you an insight into why that would be the case cornely vanny.

The descendants of poor dutch immigrants would die in eighteen seventy seven, possessing more money than was held by the U. S. treasury. I ran another biography many years ago on coding available, and it's called the first, the first in the epic life of the in book.

There's a this incredible stat that I haven forgotten, and he was talking about, well, if when he died, if you could, on the day of his death, right, if you could convert all of his assets into dollars, he would have had five percent of the money supply. He would have had one out of every twenty dollars in circulation. So in this book the story starts, he's in his early fifties.

Even by this time, he is already fAllen away. America's richest man even know his next, the next twenty years is where his fortune grows exponentially and IT grows exponentially because he invest heavily in the new technology today. Unit talked over over again at the railroads in american histories, is a very equivalent.

I really think about that, like the the internet today. So says foreign away. America's richest man, he built his massive fortune on steam.

First, his first fortune was built on fleets of steam boats and ocean steam powered ocean ships. Then later, after the americans of the war, he invest heavily steam trains on his ever expanding network of north american robots. At one time, venerabile owned and controlled thirteen separate railways.

That is going to happen a few years into future where this story starts. Where this story starts, says the gold, the discovery of gold in january eighteen forty eight in california, a few part cast ago. And epsom, three twenty nine spent a lot of time, if you read porch of the new version of porter is charly.

Spend a lot of time talking about this idea of, like, you can analyze, I love his surfing model because he going analyze like why so successful? I was lush. Well, was so successful.

Why was uh the founder of national cash registered so successful? And he like in every case that there were some kind of wave that they were surfing. And so there's new business that vender built about our building right now is he's going to start surfing the gold rush wave.

And he's perfectly position to do so because by the time the gold rush starts, right, he's already him multi multi millionaire. But the gold rush, combined with the railroad, says the immense well that he would have mass by the time he died was still then only the stuff of dreams. And so vender bill figures out, hey, I know how i'm going to make another fortune from the goldrush.

He goes and pays. He goes in, pays a visit to the secretary state of times name john. And this conversation, this meaningly is going to have a secretary to me, really describes the way his brain works in the way he approached his business, right? This is a i'll get there a minute when i'm going to compare.

In contrast, could you really think about like a vender's, you know, didn't go to any, had no former schooling after the age of eleven, right? His enemy in the book is William Walker. He's the opposite.

We're going to get him in a minute. This guy has, he graduates like color. I goes to college, think at twelve, fourteen.

Graduates, medical school, graduates. Law school, much more than academic. We're rather time they meet and they actually going war against each other.

Then about t has forty five years of experience building businesses, forty five years of studying human nature, forty five years of dealing people with in commerce. He has a great quote this about these quotes that have lived on forever. And there are an almost every book or every documentary of watch documentary on vendor able to that.

He says, if I had learned education, I would have not had the time to learn anything else. And so obvious ous, when you look at how he built his businesses in the way he dealt with everybody around him, this is a very intelligent person. If he was informally school, I mean that the crazy thing is that he never wrote anything down.

He would keep every detail of business dealings in his head. Their stories are on the book where people can meet them, and they, like he sitting at his desk in his office, is nothing. Then he has two things on his desk, a checked ook and a boxy cigars.

So with that in mind, let's go to this conversation time with the secretary state, right? And he knows this flood of immigrants that coming from the e. They are coming from the east coast, many cases previously, they come from europe to the east coast of unites.

And then they want to get to where the goal to celebrate, right? And so he is sitting here having this conversation. And the way I think about his, he's identifying and analyzing the existing products in the market and then how he can improve on them.

So there's three different ways that all these people that are in the east want to get west in. The first one is I was sent here thinking like which one would I choose if I was them? I know i'm not choosing this one.

So thousands of of people coming from the east coast of west coast, they're doing that. You're trying to get to california and they're doing that over land and covered wagons. So what is three thousand miles through? I says the right, cut through dangerous native american homeland and cloud over treasures, treasures, mountain passes, and took as long as six months.

Hundreds of travelers died each year as a result of accidents, exposure, starvation or indian attacks. O so right one, i'm not doing that, not doing six months. I live with my family, and then my families completely different.

About time I get there because, you know, half of them have died over over the cases. The alternative of real people are doing well. I remember this is before the panama canal.

K, so the alternate road are okay. I'm going to leave from new york. I'm going to sell across underneath south america, pass over cape horn, and then sell up the pacifi C2California.

That's a lot safer than going by wagon. And IT is a lot quicker because IT takes about neta ninety days, right, three months. Instead, six months.

But IT is very expensive at six hundred dollars ahead. Six hundred dollars was the equivalent of several years salaries for a labour at this point in history. The third one is there was an existing company that would take you by steam ship down to panama.

So you got to east coast of animal because is no panama o come out this point. They put you on a meal and then you have to track a week long on a meal through the mud to get to the pacific side of animal. Then they put you aboard another steamer, and then they bring you up to seven years go. That route only took a month that was also six hundred dollars.

And vanderpool immediately realizes, well, there's essentially unlimited demand for this because if six hundred dollars is the equivalent of several years salary, yet you have thousands of passengers that are lining up to take both the panel out and the route around k porn and so vulnerable approach, this is very similar approach that he would take early in his career, where it's o six hundred box, i'll do IT for three hundred dollars, right? And he's going to have to. But early his career, he would compete head ahead, keep cutting his rates, usually to a larger, more savage player, and then eventually the, the, the more savage player.

Buy him out to make him go away. And so when he sees these other three options, he's like, okay, I haven't vantage or he's a an existing steamboat net he got A N N he can put in. He can buy them, buy them or build them quicker of people.

So is like, and i'm going to do this. I'm not going to use the panama right. And then he says he scoped at the six hundred dollars being charged by the Operators who did use animal.

I can improve on that venture bill set. I can make money at three hundred dollars crossing my passengers by lake nara, a room six hundred miles shorter. Okay, so he identified another road in.

So why is he talking to the secretary state about this? It's not just the passengers. He wants to make money in the passengers, but this is he does this with everything is never the obvious thing.

I've been using the chat feature in founders notes, which isn't public, only mean in the team realise have access to right now. But i've been using IT to make all these episodes and having to assist me with the research for this episode. And IT was searching all my past transcripts every single time I mention on the podcast before every single note or highly to had IT.

And I really summarized what i'm trying to tell you. It's as variable approach. The business was often marked by a slight consuming of his intentions, keeping information close while simultaneous ly gathering intelligence on competitors. This strategic ops station allowed him to make moves that others often couldn't predict a comprehend until IT was too late.

That's what is happening in the story because he is going, I have a shorter out, I have more assets and no one else has, right? He can combine assets in a very unique way that very few, maybe no other competition can. At this point, I can make a profit at, you know, half the Price that my competitors in.

But that's not why i'm here. I want two things from you. Secretary state. He wants the U. S. Male contracts. There's a ton of people that want to send information rate from east to west. I will take that over for you.

I want the contracts, which would be equivalent of couple hundred million dollars a year in guaranteed income from the U. S. Government today. And then the second thing I want is I want you to negotiate with the nicko rogram government.

This is before William Walker over through the government, right? And I want the exclusive rights from the nicaraguan government to build a across nico og at beginning. So now we live in a world where they did this across panama right at the time, before the panel OK.

Now the idea was to he actually gets this contract, right? So he's a successful in this meeting with secretary said at the time they thought they were going to build the the canal A A if you look at a map, na, you'll see this giant lake in the middle. The so the idea was cut through there on one side.

So that would be the e side, and then a smaller canal on the west, and I would dump you into the pacific ocean. So that plan, this new business corneas is building, sets up the entire story, which is what this book is about, which is this war that he has with good worker. So I need to give you a little backside on unwelcoming walking.

And why I said he's essentially the exact opposite upernavik. His mom is accessibly sick when he's Young. And they can figure out the the local position ans are unable to diagnose your condition.

So he had this intense devotion to his mother. And so he's like, i'm onna, become a doctor and cure my mother's mystery illness. So he starts reading every single book he can possibly find.

And the next thing i'm going to say is kind of weird, because the decision he makes later kind of speaks to almost, that is a contradiction. He some sort of like Young prodigy genius, even though later in his life he does a lot of dumb things. The story ends with a thirty six year old, William Walker, being handed over to the honda government, being folded, brought out to the beach and shot death.

And it's interesting to think about how this Young praddy wind up having an outcome that obviously he did not desire, right? So while he's traveler is old, his artis ter red greek line, his father takes them to the university national OK, my sons of genus, can you let? He has starts college at twelve.

He graduates at fourteen. At fourteen, he then goes to medical school two years later. He are four years later.

At eighteen, he graduate medical. By the time he's eighteen, he's graduated college medical school. He has also added a bunch of languages.

He can speak french, german, spanish. Despite all his medical training, he can save his mom. His mom passes away. So then he said he loses his faith in medicine, and he's decides, hey, i'm going to be lawyer.

Two years later, he has a lot of agree around the time he meets fall in love with this woman named Allen SHE is death. So what he think Walker IT Walker makes himself fluent in side language. Even after getting all these degrees, he decides, is a great line here.

As Walker was convinced that the pen could potentially be media than either the scape or the gavel. So he became a newspaper editor. He is the editor of a newspaper, one of his staff members as a Young walk whitman.

And so over the next ten and fifteen years of William Walker's life, until dies, he is what's known as a filibusters. So a filibusters is someone who engages in unauthorized military expeditions into a foreign country or territory to Foster or support a political revolution or secession. That was incredibly popular at this time because it's driven behind the the doctor of manifest destiny.

And so not only if people believe hey did manifest destiny for americans to keep expanding westword, but they also would invade like mexico in center america. So Walker does that. He invade mexico unsuccessfully, and then eventually invade a successfull.

So his habit of film busty is what I was called, is what's going to cause him to to cross a paths with vendor able, i'm going to get there a minute. This is something is very faster. So one of my favorite ooks that have ever done was episode of a choice.

It's episode ninety two. It's this book called the invisible billionaire. The book is almost impossible to fine. I think I made over hundred dollars for my copy if I am taking.

But it's about this guy of during your lood who in the ninety eighties was the richest american in a the rich american and no one knew he was. And so Daniel builds a massive conglomerate and think it's like, you know, one hundred countries. I know a thirty something companies of her correctly.

It's in shipping and mining and transportation real state and hauling oil for standard oil. But there's an idea that book I never forgot, and it's the importance of doing certain things yourself. And i'm just going to read from my notes from that book.

He says choice. He adjusted the word of specialists, and twice he'd been burnt. He had believed them when they told him that he could bring his fully loaded uh, sixty thousand ten oil Carriers down this river in south amErica without running the ground.

They were wrong. And then his geologists had failed to discover until, after considerable work was done, that the core rock underlying the grand bahama island was too fragile to support his giant supertankers. These mistakes had cost danial considerable time and expense.

So before building a refinery in panama, he decided to check out the site himself. And so the maxim here to do with your self, this is arted biler. When he does this would destroy a toe.

He catches the flight from new york to p animal. He goes to a little village store next to the bay. He, he buys a string and heavy boat, and then he measures that string out in six foot length ties, and not at each interval.

He then goes to the dock and rent a boat. He spends the entire day going around the bay, checking the action, this, the punching. He spends the entire day going around the bay checking the accuracy of every depth mark on the article chart extra saying, no, we've already map this out.

You can do IT here is the chart he goes, says, i'm going to check for myself. Only when he had satisfied himself that the water was as deep as the church said to defy back to new york and give the signal to begin construction. Vonderful does something very similar here.

He sends his team down is like, okay, this is the right we're going to do. This is where we go and how we get people from the east coast of neo Opera to the west coast. And so his advances team is going down there and they're telling, no, we're running around, we can figure how to do.

And so this great to in the book where this is giant, the prometheus rate in lands in in nicosia, and there's only one person on the boat and that's vantage. And he says the purpose of the voyage was so secret that not even venables wife knew that her husband had left town. Let know, let alone where he was going, goes back to that secretive option.

And I definitely say they were right. That secretive nature that he had. And he says variable was on a mission.

The news for nicko ogre had not been good. His teamers had been wrapped on the rapids, and his team is saying the rapids were impossible. They declared that his dream of conveying passengers after over to the lake was unrealizable.

Cory vb would see about that. He would not let a few stand in the way of making a fortune in aroa. And so he goes and meets his team.

He knocks them out of the captain chair, right? He started piloting these boats down himself. Remember, at this time he started, he was a steamboat entrements r at eleven. He's like fifty two, fifty three home like that, where we are the story. And so he says, with vonderful of controls, he literally walked over the rocks using the peat whales of his steamer for feet.

With the engineer shaking their heads in wonderment, the ship made IT over the rapid ds at the first time is like three times he has to do this, so he gets the next one. He showed his companions one of the tracks that he had learned from during his fifty years in the river navigation business. Member, they had this impossible, he goes down, is literally proving that can be dumped, tells the break out the rope.

He says the rope were breaking out, uh, one end was attached the trees upstream, and the other was attached to the boat. He then lightened the entire boat of all but essential, the people need to be on people on board, uh, everyone else in the surging water, putting their shoulder to the whole. And with the engine at full capacity, he got him up and over the quote, quote in impossible rapids.

He reloads the boat and they continue on their way north west up to send on river a few days later says he was new years day eighteen fifty one economy is vanderpool had just piloted the first steam powered vessel too, who have negotiated the entire hundred thousand mile length of the sand one river and reach late nicoya from the crib. An sea, not for the first time in his life are the last of variables, had said that something could be done, and then gone out improving IT. In the process, he opened up the way to california, a path that would soon be followed by tens of thousands of his country man.

So Daniel loud wig, like quinton, is rendering before he improves, as sometimes you have to do IT yourself. So he starts. His business is phenomenally successful. This nick argon transit business is the companies going to be called the accessory transit company in the first twelve months of Operation to Carry two thousand passengers. Oh, and I forgot to mention that another way he makes money in addition to the track your there, they're running gold, right?

If you're you're differing gold in the west, cos she's got to get the east coast, which the finance center, so he's Carrying two thousand passengers first year and billions of dollars worth of gold as paying freight in the first twelve months, IT delivered venable a personal profit of tens of millions of dull in in today is equivalent, tens of millions of dollars. So he has a deal we pays like a flat up front payment to the nick of government. This is a, you can make ten percent of the profit.

Here's the problem. This is what when William Walkers are present, he's going to cancel this contract because IT says, uh, the the nick wagon government has not seen a single penny from the profit. This was to get ten percent.

And why? Because vegetable claim there was no profit is like hollywood accounting. He slightly built everything possible to the accessory transit company.

This speaks to one of his most pronounced traits, may be the most pronounced trade. As you could you imagine, he was unable, ruthless. Let me give you another story.

That so he's from that, right? That's where he starts venture. He wants to move from staniland two manhadoes, because that is like the heartbeat, this where the center commerce is taking place.

And his wife was like really pushing back. He wanted to stay on that ireland. He did not want to move.

They they like thirteen kids or something like that, not want to move the family. And so he gets history about the plane move from santa hat. And so a variable putting in a private mental yu m for three months until he changes around.

And remember with the beginning, says, hey, you know, most of venables absaroke scared of variable. William Walker wasn't, and he should have been. So when willing workers going to come this property, it's not like to you are going to get back in court.

He literally sends people to kill him higher, multiple, multiple mercy. That is not hypolito. That's exactly what he did. He's unbelievably ruthless.

And so some of the stories that William Walker red when he was Younger, that had an influence on him, he was reading Julie scissors memories about his conquest of goal. And then he read about sam houston. So sam houston was William Walker hero.

And William Walker sees a lot of similarities between him and houston is like Walker. Houston had been born and raised in asia. Then he became a lawyer.

He had houston had gone on to serve as A U. S. Congressmen representing and had also been the governor of tennessee.

Housing had settled in the mexican state of texas in two years later, he became general of the army of texas settings that defeated mexico's president. Then they created the new republic of texas in eighteen thirty six. He used to become the first president of the republic of texas.

If this is workers believe, the general same, you think could carve a new nation out of mexican territory, so will your Walker believed could eat. And so Walker is going to evade mexico. I think he lass, like sixty days, something like that.

But then he gets kicked out and sent back to the states. That failure, in turn, leads him to turn his gaze to nick Robert. Now there is something that that's also interesting, is corneas venable od never taken a vacation is life.

And so he builds this, I think, is the larger ship in the world of time, the largest personal ship. And he's going to take off with his entire family to europe because know everything's going so good with all my businesses. You know I made tens of millions dollars in profit in the first year uh, from the accessory transit company.

He's got partners on the accessory transit company. So why he's on vacation, they actually screw him over. And so this betrayal leads to his most famous quote, and there is so much back and forth between.

So that can be Morgan and garrison. This is not G. P.

Morgan, by the way, another Morgan. So this can be variable. There is Morgan and arson.

Okay, i'm going to give you overview of this. And then there's all kinds of IT just go to war. This throughout the entire and obviously inability going to win.

So says during vulnerability to european absence. This is when his own vacation for the first time in his life. Member, when I was reading about the early history of paper, I think elan goes on vacation for the first time.

I think he gets malaria, and then he gets there is a cool, is take away, is never go vacation a vender's never. Because on vacation to get after this step, I don't know. I lave right there, because he just so crazy.

Is not vne able, also not during venture able, european absinth Morgan enguerrand collaborated to manipulate transit company stock in their favor. They held a secret board meeting in which Morgan was elected to the vacant company, present cy, and appointed the company's new york agent. They replaced vulnerable in that role.

The board had also voted to seize vulnerability. Twenty percent scheme of company revenue. I should say that over gan this guy is he just double dealing everybody like I wouldn't cross them, but I sure is how wouldn't as partner either.

So he will do this this thing. It's like shareholders. He has shareholder and then he will if he has a deal that puts more money in his pocket at the detriment to his shareholders, he will still do that.

I don't think he believe in involution. The only for duca he believed in was himself, uh, as I guess we saying so he is also skim ing twenty percent. The company and then vender belt attorney and business partner is joe H L.

White. So he's on vender able side. White and insane story too. I touch on i'll give you like a brief he's in the book.

He's viner's les attorney and imagine your turney in your business partner doing this year, right? So is an attorney and business partner. Then he betrays available, then he goes back to venerable and he betrayed him again.

He goes back. It's so amazing how this happens over over again. Invents life. So he's attorney, business partners, see sells the stock, resigns from the board, they set up another company and he buys his attack y buys the news company, stuck on the cheap.

And so just like win Walker t will do in the future, such he takes company assets, transform either their under their own control, right, and then cuts off. This is the the main and result variables cash flow member I just told you for the first twelve S S making tens of million of dollars in today's money, right? There's in the future looks like it's going to just keep printing money variables cash flow from the transit t company had been choked off venable comes back to york months later, find he medica shorter to both Morgan and arson.

Gentlemen, you have undertaken to cheat me. I won't see you for the law is too slow. All room and you years truly cornely eventful.

So then his first response, I just wrote, same M O, same motor, a nest vulnerable assault on Morgan garren and the other robe directors of the accessory trends c company had gathered pace. What do you think is going to do? He does what he did his whole life.

A new steamship Operator named independent opposition line was advertised in new york newspapers for a hundred fifty dollars. This new line would take you to california of via anima. He he starts out, analyst, go back to that, meaning with a secretary state.

Listen to this fan. So he starts out, right? He's like you guys are charging six hundred and make money, uh, at three hundred, cut in half in Price.

Then he's wildly successful three hundred and he gets his company taken away from and so what did you do is like, I will got the Price again. I will now take you for a hundred fifty dog. He is not making money, a hundred fifty dollars, by the way.

And the story is even funnier. What is what ship is? The independent line using IT is using the north star.

The north star, with this insanely luxurious yet that he built just to go on his first vacation, comes back because I am never going to vacation again. Screw that yet. He stripped IT of all the beautiful interview and and fitted IT out to Carry six hundred passengers.

He says he would never again trifle with such a fabulous toy. And we d never again take an extended. This first manual is so successful, and IT sets up his second manuvre listen to this.

So he's got exactly what happens with him earlier, what he does in his career, and was like, okay, i'm going to go compete head. I'm going to a cut my rates. You're gonna cut your rates to match me.

It's going to you dry. You're gonna realize, hey, I just need to settle with this guys so he goes away and then I can go and jack my rates back up and actually make money so they go and do this too. So they except that.

So now his former partners who tried to school, who try to screw over, right, they go to and say, hey, you know, this is unsustainable. Sell us your ships, we will pay you to go away. Maybe they thought he did the past.

I'll do IT now, right, but this is different. In the past, this war had dropped the stock Price of the transit companies. Res, all will be down true.

One dollars. So like we got to get out this, we're gonna him off. So they they go to the nerve in the game proposal he accepts IT.

So then Morgana a garson like this is great. He says the deal signalled. So Morgan and garrison believed that venture built had given up his plan to ruin them.

Wrong, wrong. But then the boat had done no such thing listening where he does. So he's going to take their own money, anybody? He just got a bunch of money for them. He is going to to find ways to use that money to their own demise.

So having run his outstanding commissions from his enemies money, few observers are at any hope of recovering vender's t wooden mbaru on a fresh campaign to room, the pair cashed up with their own money for two months. Nothing was hurt from him. Meanwhile, the accessory transit company failed to deliver a dividend.

Why did they fail to deliver a dividend? Because they had this huge settled, they had to pay venerables. So that money was going to go to solder as a divided had to go to enable.

So when they fail to pay the january dividend, you have venerable son in law disc, Daniel Allen, who was a former transit company vice president and a shareholder, launched a legal action against the current directors, which is Morgana gerson, right, accusing them of incomplete management, this appropriation of funds and the illegal issuing of forty thousand new shares in the company, which they had to issue to finance the purchase of vendor able seven ships. The judge agrees he issues an injunction against Morgan and grison prevents that, prevents them from issuing more stock or entering into new contracts with any other company. That uncertainty causes shareholders to dump transit t company stock and obviously continues, continues to decline.

Now you have a falling stock Price, you have a temporary troubled company. You have a guy that sitting on a bunch of cash and the company is game for seven ships. What do you think is going to do next? With the share Price down, venerabile began to acquire accessory transit company stock.

A partial here, a partial. They are frequently using friends as the buyers goes back to his observation and saying that he's always concealing his motions. He does is most emotion.

Actually, he does his entire is career month by month venture able, discreetly, he secretly rebuilt his stockholding in the company, working towards the day when he got again, boost a controlling interest and kick Morgan and gerson out. So my fast for a liberton story. Walker has already taken control.

There's a civil war gone on in a corporate time. Walker in intervenes once winning, taking control, and is heavily reliance on these steamships that are bringing supplies. Reinforcements, are bringing him weapons, are bringing him goal to bringing everything he needs to fight a war, this ongoing war, and run a country that warn uncertainty is also going to play into vender's hands.

Now he was not expecting to have Walker compensates, uh, property, but he doesn't have control over the transit company yet. And so here are some events that are going on a over the time and how affects vulnerable plan to to ruin. Member says variables was closed to pouncing on the men he'd promised to men Morgan and garrison the war neko rober had been good news deventer's because IT depressed the Price of accessory transit company stock again.

So as the bad news put surprised down, he keeps buying more and more then because there's a lot of americans travelling through nicko okura to try to get to the the west coast for the gold rush right there in the of the civil war going on. And so a few american transit passenger gers are actually murdered. And so as you can imagine, the stock is getting killed.

And this is the important point, says vanderpool did not share their pessimistic outlook for nick, mean the pessimistic outlook. Why the road took california is too important. He knew that the U.

S. Government would intervene. The U. S. Government is not going to, at this point especially, is not going to allow american citizens to be murdered in nick oba.

And at the same time, as you can imagine, people are hearing stories of american cities, citizens getting murdered on their way to california. So they choose a different row. And so for the first time in the company history, they have to borrow money because they are not making money anymore.

And so if you think about the two different views where you have the start, you have to dress up like well if you are if you own the company and now your stock is getting hammer right, but you are optimistic about its future, like chorley is very able as you'd buy more. But Morgana gerson, arent doing that, he goes back to this idea that I mentioned earlier. Venable approach to business was often marked by a slight consuming of his intentions, keeping information close while simultaneously gathering intelligence on competitors.

This strategic option allowed him to make moves that others often could not predict a comprehend, and so was too late. He they don't know he's buying up to stock, right, certain than I telling him. And then publicly, he's like all I don't care about this right anymore.

I'm focused on launching a transit antic ocean steamer service to france. So as a result, IT says Morgan and gerson did not see him coming. They did not have sufficient faith in the future the transit business to buy up the cheap shares themselves.

Vender ba was only weeks away from winning the larger game by completing his overthrows of Morgan and garson in resuming control of the accessory transit c company. And that's exactly what happens. Less than a year later, variable and his friends had acquired a controlling shareholding in the company.

And at the company's january board meeting, venerabile would be elected as director once more. The director's ships of Morgan and garson would be terminated. Morgan and garrison were out of the door vender IT was back in control of the company that he founded.

And so shortly after this happens, this is when William Walker decides to sees he uses his power as the the president of nicaro a right to see all transit company assets in nick araba as part of the payment for what he considered hundreds of thousands of dollars that he contended were owed to them by the transit company in unpaid commissions because they were sweet, beginning ten percent of all the profits. So he's going to seize venture builds, lake and river boats, uh, their depos, their buildings, the employee houses, all the equipment, their stagecoaches, their horses, their meals, everything. And so inventor's estimation, those assets were close worth to close to a million dollars in eighteen fifty eight.

So billions day. And so every ables going to approach this problem just like he does. Every other problem you see that he doesn't just have one Victor attack.

He always has multiple tax factors. And one thing he knows this is very faster, Better, says he's gna die with more money than U. S.

treasury. He is, Richard. He's got more, this, not even a joke. He's got more money than all, I think, every single central american government combined, right? Which is a wild statement.

So he says, vulnerable knew that after eighteen months of civil war, the nick Warren government was as good as bankrupt and could not afford to buy as much as a robot. And so his first method of attack, he goes to the secretary state, and IT says he just runs into his office. This is great.

Other finance of the nico and government had cancelled charters, took all of us his assets, and he says he exploded with a rage and indignation and demanded redress by the U. S. government.

He wants the U. S. Government to use their military to get his assets back. The very next day, he does the same thing to the british ambassador, washington dc because at this time and in history, the british empire down there, americans are down there, mexicans are down there. There's an ongoing like uh war between you know five other national american countries, like there's all kinds of different um parties that stay here.

And so the british agreeing to help venner's because vulnerable was already aware that Walker was a thorn in the side of the british government because he he had been trying to occupy greytown which was under british control or rule at this time and so the british ambassador agrees to permanently station a warship at greytown and tells vulnerable that he could ask for assistance of the commander of that ship. So start with the secretary state of america, then goes to the ambassador of britain. Then he goes and meets immediately with the ambassadors of the national american states of coast, ra l, savor guadala and hondas.

And the ambassador of columbia and so available, tells them a story that he, you guys had to be really careful that William Walker actual ambition is not just complete control and presidency of narrower. He actually plans to conquer all five nations and make himself their empty. That might have actually been true because the the start, like the the flag the Walker uses for his, I guess, like minium empire, this point is a five pointed red star.

And to the very end of the book, I kind of speculates on Walkers motives. This is after the apple log. I know how people can get to this page, but he says that there is other people around Walker that he, that said, he wasn't deed bent on the creation of a central american empire with himself at the head.

Now, how realistic that would have been at this point. And worker isn't really asset to have a lot of weapons. This have a lot of people, that's one thing. But venerably was really smart, saying, hey, this is where he's at. Now he's gone to expand. We should work together to get rid of this guy and the reason I think it's so smart is because if you think about all of the the conversation cy have a secretary state of america, the of britain, all these ambassage in central uh and american state. He's turning everyone against Walker by appealing to their interest.

He's not saying, hey, let me get my ships back because i'm superrich and I want to be even richer he said, look, Walkers meddling in all he he trying to overthrow w greytown that's under bridge control he's meddling in all the ideas are medal in the politics and going against the interests of the U. S. government.

You're the secretary. See, you can let that happen. Hey, look, he has his flag. He's going to eventually invade your county, just like he did for nick arara. But turning everyone against Walker by appealing to their interest is the really smart move here. And then another prong on this attack, he goes directly to the united states people. He announce in the press the nico line is withdrawn for the present in consequence of the difficulties in that country growing out, the extraordinary conduct of general Walker. This is vulnerable talking growing out of the extraordinary conduct of general Walker in seizing or taken by forced the property of american citizens.

I demand a duty I owed the public to the country and to the transit company to remain quiet by letting the ships of the company salary is not not being quite at all, jermain, quiet by letting the ships of the company lay at their wars until our government has sufficient time to examine and look into the outrage committed upon their property. It's not A U. S.

company. This is crazy that he's even doing this because it's a nicko rogan company. But vanbeest this extremely advances understanding of human nature like, okay, well, hey.

Look at this, this guy, he comes down there and he steals U. S. property.

What is the U. S. Government gonna do about this? They have to get the U. S. Property back.

It's personal property is his property, and the company is even registered in this country, and we're not done. He, again, multiple, multiple tax. He started hiring secret agents, mercenary.

He pays them to travel, gives them guns, gives them people, gives them money, and says, go to central amErica and disrupt in any way possible. The activities of wing Walker. This is guiding bird owl.

That's the first one that goes down there. He's one of many that their job is to to actually steal back from Walker variable property ships. Then he directly finances soldiers and mercenary in other central american company is. So this is countryside is another war by proxy. Essentially we is doing here.

IT was the first time in two decades that the country's, the central america, stop finding each other and come together in a joint cause, thanks to convenable for IT had been his money that helped ARM the troops of guadala and l self vulnerable had more money than all central american government's combined vonderful t had now gone to war with Walker for vender's LED. This was not business. This was personal.

Venerable was determined to destroy William Walker. He called him that ten, the ten soldier nicko alga he called him Walker has taken this property and then went inclined ed to bed with vendor ables competitors. This was why vendor able had marked Walker for the stroke outline. This is why vonderful had marked Walker for destruction.

When I read that, what came to mind is when I did the episode on a rock fellers letters to the sun on episode twenty four rock fellers is something that very similar in that um in those letter he says is thought this is rock fellow writing as far as my nature is concerned, I do not meet competition. I destroy competitors. Venerable had marked Walker for destruction.

So even though vander bt was rich, right, he could still run his steamers in another location. So why isn't he doing that? The schools back to the thing that, you know, bad boys moved violence.

He always has different ways to make money. He's never going to tell you all the ways that he is making money. So he has all these boats rate that are not under conscription by one Walker, and he just letting him sit there.

What he was also doing was there are all these different routes. You can do the panama right, right member, they are still landing. This is still pre panama.

You can land on the east coast to the a deal, take that short trip across and then run them up the west coast to the pacific ocean. And so he goes to the company that has a monopoly on this panama out and says, hey, I will leave all these steamers. So you're just sitting here costing me a tony money.

I can run them against you, but you wouldn't want that. Won't you pay me to not compete with you? And that's exactly what he does, checks out.

So says venture built himself had been secretly making a vast profit from his idol ships, previously venerable, who paid a visit to his competitive and aspin war, and he made to deal with him for two months. Asm wall had paid him forty thousand dollars a month of the dim. The venture will not put his steamers on the panama run in competition with osby's al's own vessels.

That money went to venerable personally, not to the transit company. Even though those are transit company's assets. Over the next two years, this deal would net vulnerable personally close to a million dollars.

And again, that is a million dollars in, you know, eighteen fifty five dollars. That's a staggering sum of money. And so this is why that earlier, like I I don't think I can think of another like equivalent to somebody also I ve read about like vulnerable.

So go back to this like persistent desire to destroy this on, they called, they said, what an unquantified for conquest. A venables tactics were aimed at killing off the the new nicaraguan government, says Walker, quietly inverted. He had been pouring money into the capital of small countries, are joining narok.

IT was vonderful who armed the soldiers. IT was wonderful, who sent those government's money. IT was wonderful, who purchase weapons and ammunition and shipped at all the central america, the invasion of nicaragua by the ali armies.

These are that's what they call the other army to the other central american omi. The invasion of necked rover by the other central american government armies had been motivated, financed and equipped by vender belt. As far as vanderpool was concerned, there had to be a way to beat William Walker and by hook or by crook, he would find IT.

And so I want to go back to something I mentioned earlier, that you have this child prodigy. He speaks like six languages by time, you know, twenty or whatever age. He has got a lot degree, a medical degree, graduated ecology fourteen.

Clearly, you know, from an academic perspective, like a great student test, really high gets all these credentials. But we're dealing with people. I don't have any other way to put this, but unbelievably naive and stupid.

This is a intelligent, dumb person because from million Walkers perspective, first, all he didn't know any this far was going on. He didn't expect vander built, which is really weird to, because we Walkers america, he everybody in america, which person his powerful is ruthless he, but his all point was like, this is legal. I am the president of nicaragua.

u. Vulnerable had signed this legal contract with us. You did not live up to your end of the bargain. IT was illegal for me to confiscated your property.

And what William Walker failed to understand is that for people like vender, able laws are just words write down on paper. He does not give a shit. One of his most famous quote says, what do I care about the law? And I got the power.

This is like basic history, one or one throughout human history. If you take something of value for another human, they tend to react in very violent ways. Walker thought he was protected by the law.

Walker thought he was protected by words. On paper, you ve got vonderful. Secretary state, go kill in the sky.

British government, go kill the sky. Mery, one, two before five. Go kill this guy. Government of elsinore, honduras, colombia, go kill this guy. This is why you and I have talked about over and over and over again.

This is not a podcast, which is list all the business ideas that's not you have to understand why they are like this is why we sent so much time on the struggle, their early life. If you understand their early life, you will understand why they are the way they are, and therefore you have A A fundament understanding how to deal. William Walker should have been sort enough to look at somebody like vonderful and note that's not somebody won't across whether the law as you can or not.

And so at this point in the book where the author actually compares, in contrast, there are vastly different childhood. D Walker's mistake was messing with vender bill's property. How different these two men were when Walker was to years old.

He was a child prodigy just beginning college. When vender bo was twelve, he was souvent ing cargo on a vessel that ran a ground next to his house. His dad gave yang co.

Nail is three wagons and get the job done at fifteen, venerable wanted to buy his own first vessel. IT was a hundred dollar flat bottom sAiling bark. He did not have a hundred dollars, so he doesn't deal with this month.

If I poured this eight acre a lot on our family farm, will you give me a hundred dollars? SHE says, yes, but you have to do before your sixteen birthday, which was in china, something days. So what did you do? vender? Bt brought in all the boys of the neighbourhood, the promise of free rides on his new boat.

The new boat he doesn't have yet. And sure enough, they helped him. Law the lot. Vulnerable starts his first company at sixteen years old. He's going competing, grown men, stories of people.

They are not solving things in the early steam boat ferry industry by going to the judge of the lords. They are literally, if you need any box, they its fists. They settle disputes with their fists.

Now you check that poor, smart, obviously very intelligent persons, just because he's not educated formally, right? And you take that person that had those experience at eleven, twelve, fifteen, sixteen, you first forty years. And is the Richard one of the richest people in the world.

And that's the guy you decide to take his property, whatever you call that, that miscalculation. One thing you cannot call, you cannot call an intelligent. If you care about your life, you cannot cross people like that.

In many cases, you can't predict who is safe to cross and who had saved not across. So you should probably just is why I say role member two in the center, famine health li teach me minor business that is for their safety. And so in yet another plan, he literally puts fifty thousand dollars, actually a hundred thousand hours, on waiting Walker's head.

He has two more mercenary come to meeting in new york and says, hi, you come back. And if you can get Walker out of their dead or alive, you come back to the office, office. And you are each going to receive fifty thousand dollars in could hard dash member at fifty thousand large age to a hundred grand at a time when the average labor made six hundred dollars a year.

So one of the guys he offered that fifty thousand hours, two is this guy himself of on the Spencer who goes on the center amErica and start just confident and confident ships blowing them up, as will see. So says savana, penser had captured hips, point l CAD o and and lucas are all things that were previously under willing Walkers control, plus four river steamers and a lake steamed ers. So he took five.

He captures three ports and five boats. This left just three lake stammers remained available to Walker, and Spencer had a plan for seizing them, too. This is the punchline.

This is why, reading the still deprived of vessels, Walker would be like a man without legs, and corneas vandal would be one critical step closer to winning his war a short time later. You see, this is very consistent in Walkers personality. Is miscalculation the ali? He's now fighting the outline army, right? The army that that vendor funded and set up, they have four thousand people.

OK Walkers got nine hundred. One of his captains does something that Walker doesn't like. And so he wants to dismissing him, you know, what do you do? You're getting rid of one of your best people because of your principal, right? This is life and debt.

You are war. There's four thousand people right around, you know, on the other side of that line you got nine hundred. And so he says, this is meeting between this captain and that Walker dismisses and Walker.

This water Walker says. If this is the way you're gone to do business, nick aragua has no further use for you. We want nothing of this sort done here, sir.

The embarrass captain departed without a word and was never heard of again, even though he was surrounded by four thousand people, Walker was prepared to let officers go if they broke his rules. Walker fails to realize that he's at war with someone who has no guard for rules. So Walkers doing with sabotage, he's losing all of a steamer.

She's got nine hundred men. He's got four thousand people surrounding home. He's got all these other mercenaries put up by vanderbeck taking a stuff.

And then what happens? Here's another vanderpool attack. That same day, the U. S.

Navy nine hundred and fifty eight ten warship called the same marries dropped anchor a little distance from Walker. The guy running the ship is commander Davis. Commander Davis had come to nicaragua with express orders from washington. Officially, he was to take steps as circumstances required for the protection of american citizens in nick arba. In reality, the navy secretary, at the request of the secretary of state and the urging of corneas variable, had given Davis the job of ending the war of removing William Walker from neck.

Ara one way or the other member, he's got multiple tax running simultaneous ss against against I my enemy one way around the comedy, which is cornea nickname, he was kid one, where another vonderful was determined to get Walker. So shortly after this, one of the few steamers that Walker sells access to that, giving him, you know, supplies, weapons, more, recruit, come and fight, blows up. And sixty men were killed in the blast.

Walker wrote. This was just ill luck. He doesn't even know what's going on, IT wasn't, illuc said. Several other witnesses believed that IT was caused by some misc. And who threw a flash of powder gun powder into the furnace.

We know that IT must have been powder from the fact, from the fact that the faces of the wounded were a great deal black and with gunpowder and IT was indeed powder that IT caused the explosion. Previously, when this vessel had stopped to refuel, IT had taken on board pieces of gun. Powder filled firewood.

So it's growing in firewood that the obviously not know has gone power inner, because that would cause the ship to blow up, right? That gun powder filled firewood have been planted at the river bank deeper weeks before the disaster. IT was planted there by a mercenary in the employment of cornelius variability.

This action finally sealed the fate of the pillow busters with Walker with an improvised expose to device, and brought to a close the last attempt to reclaim the river, and then hundreds of desperately needed men to Walker. Walker was now cut off from the atlantic and gulf states. So no new mount, no new supplies and no new food, he says Walker's army had been surviving on a small ration of meal meat.

A little more of this, one of Walkers, soldiers said, and will have to start eating the prisoners. Everybody around Walker is trying to convince now him to surrender. Eventually they get through and they said, hey, if you surrender, you can surrender the U.

S. And they won't kill you. Bring you back united states.

So IT says, on may first win, Walker boarded the U. S. warship. This is commander Davis together. I was some time right commander Davis insisting that all of Walkers ships left and they had two left, uh, be handed over to the ali so there's other central american army that venture bill funded along with all the Walkers rifles and and ammunition Walker surrender with only four hundred and seven troops remaining.

Cornelly is variable winds, and he says he can now enjoy the spoils of his nicko ogen Victory. Unbelievably, Walker goes back united states, invades treasury. I invade again, fails like a few days later.

Then goes back to the states for the second time, then for the third time tries to invade this time the british capture um they hand them over to the hunger, an government. And on september or eighteen sixty, thirty six old William Walker was LED blind folded onto the beach. They asked if he had any any last words.

He was still speaking when his executioners fired the officer in charge, then walked up to Walkers formal body, put a pistol to his face and fired at point blank range so that the corps could never be recognized. Walker's naked body was then buried in the sand. By this time, corina is wonderful, have forgotten all about willing Walker because he wasn't even interested in naoko anymore, because IT turns out he wasn't willing Walker.

That sealed the fate of the nicko ogan transit company. IT was the intergovernmental railroad that opened up linking california in the east coast, rendering his transit company. And the final trade that I went import to you, that vender abt had, that was beneficial businesses that he would serve each new technological wave that he believed in.

So I said vender abt had seen the future of railroads well before many others. He would accumulate controlling interest in sixteen key line. So sixteen, I think I said thirteen earlier more, he would accumulate rolling interest in sixteen key lines.

During the civil war, he charted a number of his team ships to the U. S. Government, which converted them into warships.

But after the war, he consolidated his shipping interest and concentrated on the iron rail, buying up railroad. After railroad, his crowning glory was the construction of new york city's first grand central terminal. His statue stands outside grand central station.

To this day, steamships had made vender's wealthy. The railroads made him one of the richest men in history, and that is where I leave IT for the full story. Highly recommend reading the book.

If you buy the book using the links in the show, in your protest player are about finish pocket that com, you'll be supporting the podcast at the same time. That is three hundred and forty one books down one thousand ago. And I tark you again soon.

There's a theme that comes up over over again on the podcast, and I think is obvious more you listen. Is that the the people that uni ted on the podcast, even though they didn't know each other medications alive at different times in history, they're working in different industries. They live on different person of planet.

They are much more like to each other, right? That's why these themes pop up over again. They're much more like to each other than they are to like the general population.

And the same is true for people that listen to founders. There's this like, this like metaphor in my mind lately, like I think of a picture like an iceberg, right? Where any time I get messages, you know, I get messages from people listen, they don't know each other.

They usually ask for similar things. And it's only years to realize to take like the device on the podcast, right? I think of what Michael jorden said that successful people listen, the people don't last long.

And he was talking about, yeah, obviously not only listening, like in the terms of learning from history study, the great people can be for home, listening to his coaches as trainers, all the people who has around him, trying to help him be Better, his profession, right? But what happens is what i've come to realize is, like any time I get a bunch of these messages, because the same holds true for the people listen to the podcast, just like the same holds true for the people that we study on the podcast that people listen to. Founders are much more like to each other, then we are to the general population.

And what will happen is i'll get these messages, people we asking, in many cases, over a long period time for some more things, even though they didn't know each other. And every time that has happened so far, that I actually dig deeper, it's that these messages of getting her, it's like the tip of the iceberg, the power that is outside of the water, and then you go deeper and you have this mass underneath that is hidden. You just had actually look.

And this happened with the the initial creation of founders notes to begin with because for years, as you know, I would go in like shout from the mountain tops about this APP called read wise, that oh god, this is incredible for you know, since two thousand eighteen years been putting every single note highlight everything, uh, that i'm all the prep that i'm doing for the podcast into this database that I can then search. And i'm constantly revisiting what i'm learning. You know, I think i'm what eight years into this and the deeply I go going to this, I realize how right nopody was when he kept saying that, hey, experience must be supplemented by study.

No man's personal experience can be so inclusive as to warn his, disregarding the experience of others. Say, over, over again, you need to read over and over again the campaigns of Alexander hano, scissor fraga, degrade, make them your models. This is the only way to become a great general to master the secrets in the art of war.

The same is applied to entrepreneurship, which we see over over again. So we see over over again the sense that they're constantly in great people before them. So once people say, hi, I want access to a your notes and highlights.

For years, people are asking me for this. That is the type of iceberg. Then I build this product, which is founders notes. You can get a founders know if you don't already have IT and turns out there is a huge, massive people underneath that, that one access to IT that see the value and constant reading and rereading my notes and highlights because of course, by rereading my notes, it's going to spd ideas that you can use in your work. That was the first part.

The second part was that people started asking, hey, I knew it's an annual sugriva is her way I can just do a one time. Can I just pay once and have IT forever? And then over last few weeks, as you've very heard, I start testing out.

So I go, that's interesting. If we do that, like then he becomes a tool. And that's kind of weird, like how many times becomes a tall you use for your entire career.

So you would get none's every single note highlight that have done so far, but every single note and highlight that will do in the future. And I have to do this in the future because I can make the podcast without this. Essentially, what i'm building, what founders notes is for you is my internal tool to condense and clarify the collective knowledge of history, gays, enterprise.

There's exactly what i'm trying to do. And so once I listen as okay, we will let me test this out. Let me see what happens. The response has been overwhelming.

Most people are opting for the one time option, and there's very few products or services that you can buy that actually get Better with time. So think about how crazy this is. So if you sign up for the one time option, okay, you get everything I do in the future.

So the product by default every week because I keep adding to the every week. Improves over time. But then i'm also building all these other new features and then you get all those features essentially for free. So that product that's another way that product keeps improving the future.

So what one thing i've just did have been telling about this is you before forever, you've been able to search my notes and highlights right in a keyword search of anything you're thinking about, higher firing, recruiting, advertising, marketing, a specific person like og, v or buffett or monger or anybody else that you and i've said in the pokey. Then we just add, and this is live now, by the way, and i've had all these tools eternally, because me and the founders of read right tested this, and the engineers of rewrite have been testing this, because this is a partner with to to build that. We are to test before we make public.

So the transcribe feature is alive right now. So that just makes keywords arch and not choice. Is is good.

May I know five, ten times is good because then you have every single word of ever ordered on the podcast that you can now search, uh, one thing, uh, if you already an existing h describer earth you're going to to describe and to get founders notes, the keyword search, make sure you're using founders 的 notes on your computer。 There's been several bugs on the search, the keyword search with the with the transcripts on mobile. There had been worked on and hopefully squashed very soon.

But from my own experience, I think the experience on on your computer, on a test top of laptop is far appear. I'm going to have to build that, you know, the founders, notes APP, which I eventually get to. So that is life.

Now the other future been talking about to say, hey, how can we use these new chat like AI interfaces and be able to searched through everything that I have, transcripts, notes, highlights, not just keyword, but actually romantically, the way that you would searched as if you were asked, like me, a question, for example. And so I told you the past, I need a name for this. You was like, founders GPT sounds terrible.

This is another feature that we've been testing eternally. We have IT. We call the founders chat. I don't think i'm going to keep IT as found a chat because this is what I think of what I really think IT is, I think when to call super search or something like that because to me, it's like searching the entire corpus of the founders podcast, everything, all of the material adjusted to make founder podcast, you know, for the three hundred and fifty year or three hundred forty went epo, des, whatever IT is right.

And as the more I use IT and now i'm using, I think i'm reference to in the episode, just listen to using IT literally to build every single, using to research every single podcasts and i'm making, i'm using IT nearly every day and the more interact with them like, no, this is like a super search. This is like search on steroids. IT has a way more advanced mory than me.

I've been searching and IT makes connections that I have ever missed. What I want to do is, and i've ready started doing this with a handful people, start testing them to existing founders, no subscribers, whether you have one already or if you sign up now, which I highly recommend you do, I think it's a no banner, especially if you do the one time option. But if you want to test this, I need people.

Now keep me in. This is a bit test. You're gonna run into issues.

That is the point of testing with a small group people eventually, I think, in the next few weeks at the very, the very latest. And we liked every single person. You just see IT when you have log in the foundations.

But if you are interested in testing this right now, when you are logged into Venus notes, you will see an email dress in the footer, send an email and subject lines, say, I want to test founders chat and with the goal, obviously, if you run into any bugs or anything where it's not functioning as IT should, please let me know. And so then once super search, whatever going to call IT is ready, it's alive. It's functioning just that has bit as IT has been internally.

There's other features that I want to start adding. I'm going to redoing bullet point summaries of the key ideas in every single episode. I want to do that uh, by founder think some some episodes, some founders and I have like ten episodes on right like I would like a one page in the whole point.

I guess I need to back up. I think you you know this. But just in case someone I need to make explosive, what i'm trying to do with founders notes, because IT starts out with the beauty search notes and highlights, then you have transcripts and you had super search, then you add bullet summaries of kids from each episode.

But really, everything that i'm doing with this right is over time, I do think it's going to be this ever increasing giant valuable curriculum that condensers and clarifies the collective knowledge of history, create founders. IT is by far the best way for you to support the pocket IT is the platform. And I think the business that will continue to allow me to make a, distribute the podcast for free forever.

And so every future that i'm building, building up for myself first as a way to serve that mission that, hey, we need this, this very advanced rick umm condensers, and clarifies the collect of knowing of his sage Grace founders. Because if IT goes back to what David organ said, he says, you can't save souls and empty church. You have to condense and clarify, because that's how you going to remember the idea.

To use that idea in your work, you might not use the idea tomorrow. You might be ten years from now. And so as I constantly to use these features myself, I will refine this long revision, of course, says, as always, with everything I will share with you as soon as I comprehended myself first.

So if you are already running a successful company and you want an easy way to interface with the ideas of his integration continues in a separable, they can go through at your convenience anytime you want. Then go to founders notes 点 com to sign up。 And as founders notes dot com. Thank you very much for listening. Thank you very much for support, and i'll talk to you soon.