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#144 - Interview with Victor Corrigan, Co-Host of the Podcast

PODCAST

Interview with Victor Corrigan, the new co-host of the Circle of Competence Podcast


In our brief conversation, we cover why we partnered and our North Star for the podcast. We are excited to share our journey learning about buying, building, and operating wonderful businesses and hope you will join us!


Listen: iTunes, Spotify


FRAMEWORK


Gall's Law


"All complex systems that work evolved from simpler systems that worked. Complex systems are full of variables and interdependencies that must be arranged just right in order to function. Complex systems designed from scratch will never work in the real world, since they haven’t been subject to environmental selection forces while being designed. Gall’s Law is why Prototyping and Iteration work so well as a Value Creation methodology. Instead of building a complex system from scratch, building a Prototype is much easier—it’s the simplest possible creation that will help you verify that your system meets critical Selection Tests." - The Personal MBA by Josh Kaufman


Gall's Law reminds us that there's no use in trying to plan things out to the nth degree or solving for every potential variable when we're just getting started with something.


Rather than designing the perfect plan in hopes of hitting a grand slam, just go for the base hit. As you get more at bats, then you can start taking bigger swings.


Start now, optimize later.


LINKS


Jeremy Grantham - a historic market bubble (Invest like the Best)

+ Grantham is a financial historian as much as he is an investor and many would do well to listen to his experiences and wisdom from bubbles past.


The treasury yield stress point (Lyn Alden Schwartzer)

+ A lot of interesting macro data that is useful for framing our current business environment.


Are we in a stock market bubble (Ray Dalio)

+ Dalio is a market historian and his opinion is always worth weighing heavily.


The smaller end of the scale (Barr Dynamics)

+ There are several advantages of buying sub-search-fund-sized companies. This article explores why it may be more advantageous to 'buy a job'.


Gary Vaynerchuk's attention strategy (Better Marketing)

+ "This is my whole argument. You’re not gonna beat technology, the only thing that’s gonna allow anybody to survive as things get commoditized and driven down is brand."

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