Founders
Episode 238 #238 Jay Z: Decoded
Founders

Episode 238: #238 Jay Z: Decoded

Founders

Episode 238

#238 Jay Z: Decoded

David Senra is the host of Founders, where he studies history's greatest entrepreneurs. This is what he learned from reading Decoded by Jay Z.

What I learned from reading Decoded by Jay Z. 

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[1:39] I would practice from the time I woke in the morning until I went to sleep

[2:10] Even back then I though I was the best.

[2:57] Bourdain: The Definitive Oral Biography  (Founders #219)

[4:32] Belief becomes before ability.

[5:06] Michael Jordan: The Life (Founders #212)

[5:46] The public praises people for what they practice in private.

[7:28]  Lock yourself in a room doing five beats a day for three summers.

[7:50] Sam Walton: Made In America  (Founders #234)

[9:50] He was disappointed in the world, so he built one of his own — from Steven Spielberg: A Biography (Founders #209)

[12:47] The Pmarca Blog Archive Ebook by Marc Andreessen (Founders #50)

[13:35] I'm not gonna say that I thought I could get rich from rap, but I could clearly see that it was gonna get bigger before it went away. Way bigger.

[21:10] Over 20 years into his career and dude ain’t changed. He’s got his own vibe. You gotta love him for that. (Rick Rubin)

[21:41] Against The Odds: An Autobiography by James Dyson (Founders #200)

[25:27] I believe you can speak things into existence.

[27:20] Picking the right market is essential.

[29:29] All companies that go out of business do so for the same reason – they run out of money. —Don Valentine 

[29:42] There are two things in business that matter, and you can learn this in two minutes- you don’t have to go to business school for two years: high gross margins and cash flow. The other financial metrics you can forget. —Don Valentine 

[31:54] I went on the road with Big Daddy Kane for a while. I got an invaluable education watching him perform.

[33:12] Everything I do I learned from the guys who came before me. —Kobe

[34:15] I truly hate having discussions about who would win one on one or fans saying you’d beat Michael. I feel like Yo (puts his hands up like stop. Chill.) What you get from me is from him. I don’t get 5 championships without him because he guided me so much and gave me so much great advice.

[34:50] Steve Jobs: The Exclusive Biography (Founders #214)

[37:20] This is a classic piece of OG advice. It's amazing how few people actually stick to it.

[38:04] Nuts!: Southwest Airlines' Crazy Recipe for Business and Personal Success(Founders #56)

[39:04] The key to staying on top of things is to treat everything like it's your first project.

[41:10] The Founders: The Story of Paypal and the Entrepreneurs Who Shaped Silicon Valley (Founders #233)

[44:46] We (Jay Z, Bono, Quincy Jones) ended up trading stories about the pressure we felt even at this point in our lives.

[45:22] Competition pushes you to become your best self. Jordan said the same thing about Larry Bird and Magic Johnson.

[46:43] If you got the heart and the brains you can move up quickly. There's no way to quantify all of this on a spreadsheet, but it's the dream of being the exception.

[52:26] He (Russell Simmons) changed the business style of a whole generation. The whole vibe of startup companies in Silicon Valley with 25 year old CEOs wearing shell toes is Russell's Def Jam style filtered through different industries.

[54:17] Jay Z’s approach is I'm going to find the smartest people that that know more than I do, and I'm gonna learn everything I can from them.

[54:49] He (Russell Simmons) knew that the key to success was believing in the quality of your own product enough to make people do business with you on your terms. He knew that great product was the ultimate advantage in competition.

[55:08] In the end it came down to having a great product and the hustle to move it.

[56:37] Learn how to build and sell and you will be unstoppable. The Almanack of Naval Ravikant: A Guide to Wealth and Happiness (Founders #191)

[58:30] We gave those brands a narrative which is one of the reasons anyone buys anything. To own not just a product, but to become part of a story.

[59:30] The best thing for me to do is to ignore and outperform.

[1:01:16] Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger. (Founders #90)

[1:06:01] Tao of Charlie Munger: A Compilation of Quotes from Berkshire Hathaway's Vice Chairman on Life, Business, and the Pursuit of Wealth With Commentary  (Founders #78)

[1:08:42] Jony Ive: The Genius Behind Apple's Greatest Products(Founders #178)

[1:11:46] Long term success is the ultimate goal.

[1:12:58] Runnin' Down a Dream: How to Succeed and Thrive in a Career You Love - Bill Gurley

[1:15:11] I have always used visualization the way athletes do, to conjure reality.

[1:18:14] The thing that distinguished Jordan wasn't just his talent, but his discipline, his laser-like commitment to excellence.

[1:19:42] The gift that Jordan had wasn't just that he was willing to do the work, but he loved doing it because he could feel himself getting stronger and ready for anything. That is the kind of consistency that you can get only by adding dead serious discipline of whatever talent you have.

[1:21:37] when you step outside of school and you have to teach yourself about life, you develop a different relationship to information. I've never been a purely linear thinker. You can see it to my rhymes. My mind is always jumping around restless, making connections, mixing, and matching ideas rather than marching in a straight line,

[1:27:41] Samuel Bronfman: The Life and Times of Seagram’s Mr. Sam (Founders #116)

[1:34:15] The real bullshit is when you act like you don't have contradictions inside you. That you're so dull and unimaginative that your mind never changes or wanders into strange, unexpected places.

[1:36:25] There are extreme levels of drive and pain tolerance in the history of entrepreneurship.

[1:38:45] Hit Men: Power Brokers and Fast Money Inside the Music Business

[1:42:24]  I love sharp people. Nothing makes me like someone more than intelligence.

[1:44:17] They call it the game, but it's not. You can want success all you want but to get it you can't falter. You can't slip. You can't sleep— one eye open for real and forever.

[1:51:49] The thought that this cannot be life is one that all of us have felt at some point or another. When a bad decision and bad luck and bad situations feel like too much to bear those times. When we think this, this cannot be my story, but facing up to that kind of feeling can be a powerful motivation to change.

[1:54:18] Technology is making it easier to connect to other people, but maybe harder to keep connected to yourself.

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I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth

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#238 Jay Z: Decoded

Introduction

“It was the '70s, and heroin was still heavy in the hood. Unpredictability was one of the things that we counted on. Like the day when I wandered up to something I've never seen before, a cipher, but I wouldn't have called it that. No one would have back then. I shouldered my way through the crowd towards the middle. It felt like gravity pulling me into that swirl of kids, no b*******, like a planet being pulled into orbit by a star. His name was Slate, and he was a kid I used to see around the neighborhood, an older kid who had barely made an impression on me. In that circle, though, he was transformed, like the church ladies touched by the spirit, and everyone was mesmerized. He was rhyming, throwing out couplet after couplet, like he was in a trance for a crazy long time, 30 minutes straight off the top of his head, never losing the beat, riding the hand claps.

He rhymed about nothing, the sidewalk, the benches, or he'd go in on the kids who were standing around listening to him. And then he'd go in on how clean he was, how nice he was with the ball, how all the girls loved him. Then he'd start rhyming about the rhymes themselves, how good they were, how much better they were than yours, and how he was the best that ever did it. All he had were his eyes, taking in everything and the words inside him. I was dazzled, ‘That's some cool s***,’ was the first thing I thought. Then I could do that.

That night, I started writing rhymes in my notebook. From the beginning, it was easy, a constant flow. For days, I filled page after page. Then I'd bang out a beat on the table, my bedroom window, whatever had a flat surface, and practice from the time I woke in the morning until I went to sleep. I saw it as an opening, a way to recreate myself and reimagine my world. After I recorded a rhyme, it gave me an unbelievable rush to play it back, to hear that voice. Everywhere I went, I'd write. If I was crossing the street with my friends and a rhyme came to me, I'd break out my binder, spread it on a mailbox or a lamppost, and write the rhyme before I cross the street. Even back then, I thought I was the best. I'd spend my free time reading the dictionary, building my vocabulary. I could be ruthless, calm as f*** on the outside, but flooded with adrenaline. I wasn't even in high school yet, and I discovered my voice.”

That is an excerpt from the book I'm going to talk to you about today, which is Jay-Z's memoir, and it's called Decoded. Before I jump back into the book, just real quick, I get messages every week for people asking how they can buy gift subscriptions to Founders for other people. There's always a link in the show notes in the Misfit Feed. You'll see Buy Gift Subscription. And if you don't see it there, you can always go to founderspodcast.com, and you'll see it in the header, and you can buy a gift subscription for like a few months, a year. And now there's a lifetime gift subscription option as well.

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