"It is easy to forget that, when he was a student, the man who brought us the Macintosh, iPhone and iPad (and, with his little finger, Pixar) collected bottle caps to make ends meet. The need to stretch every nickel informed the way Apple was run during the early days." — Mike Moritz
In 2015, Mike Moritz wrote an opinion piece for The Financial Times called "Imitators take note — Steve Jobs was more than a showman." It's a great reminder that the best businesses — including Apple — are the most capital efficient businesses. That what matters isn't how much you raise, but the business you build with what you raise. And that even Apple, started out life being incredibly cheap and capital efficient.
Being frugal and stretching every nickel ensures that your business is as durable as possible. While revenue will always ebb and flow, expenses are typically subject to inertia. Expenses tend to build up invisibly, almost imperceptibly, and can require heroic acts to shrink. While is why it's so important to build a culture of frugality from Day One — ensuring that as many dollars spent as possible go toward strategic expenses that sustain and grow your business.
Explore the episode notes.
Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/173.
Watch and listen.
Watch this episode on YouTube
Find this episode in your favorite podcast app
Get new episodes delivered via email
For more, explore my full profile of Steve Jobs.
Who is Steve Jobs? Wisdom From The Man Who Built Apple, NeXT, and Pixar
Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required.
Advertise with Outliers and reach our global community
Learn more about your ad choices. Visit megaphone.fm/adchoices
#162 A Masterclass in Product Design with Andy Budd (Founder of Clearleft)
#161 Bill Moses, Founder & CEO of Kevita and Flying Embers: Favorite Books, Lessons Learned as a Serial Founder, Superpowers, and More
#160 Kevita & Flying Embers: Building Functional Beverage Companies from Kevita’s $200M+ Acquisition to Flying Embers Big Bet on Fermented Alcoholic Drinks | Bill Moses, Founder & CEO
#159 Eric Tarczynski, Founder & Managing Partner of Contrary: Favorite Books, Lessons Learned as an Investor, Superpowers, and More
#158 Contrary: Using Software and Scouts to Invest in People, Before They Ever Start Their First Company | Eric Tarczynski, Founder & Managing Partner
#157 Ari Tulla, Founder & CEO of Elo Health: Favorite Books, Lessons Learned as a Serial Founder, Superpowers, and More
#156 Elo Health: Personalized Daily Nutrition using Blood Tests, Activity Data, and Dietician Support | Ari Tulla, Founder & CEO
#155 Michael Sheetz, Space Reporter at CNBC: Favorite Books, Lessons Learned as a Reporter, Superpowers, and More
#154 A Masterclass in the Business of Space with Michael Sheetz (CNBC’s Space Reporter)
#153 Jimmy Soni, Bestselling Author, Speaker, & Speechwriter: Favorite Books, Lessons Learned as an Author, Superpowers, and More
#152 The Founders (Book Summary): The Story of Paypal and the Entrepreneurs Who Shaped Silicon Valley from Elon Musk to Reid Hoffman to Peter Thiel | Jimmy Soni, Bestselling Author & Former Huffington
#151 Leo Polovets, Founder & General Partner at Susa Ventures: Favorite Books, Lessons Learned as an Investor, Superpowers, and More
#150 Susa Ventures: How They’re Building the Next Great Seed-Stage Venture Capital Firm and Investment Platform
#149 Jannick Malling, Founder & Co-CEO of Public: Favorite Books, Lessons Learned as a Serial Founder, Superpowers, and More
#148 Public: How They’re Building the Future of Investing from Fractional Shares to Alternative Assets and Social Investing | Jannick Malling, Co-Founder & Co-CEO
Joey Cofone, Founder & CEO of Baronfig | Favorite Baronfig Products, Skill vs Renown, Daily Disciplines, Favorite Books, and More
Trailer – Joey Cofone, Founder & CEO of Baronfig | Favorite Baronfig Products, Skill vs Renown, Daily Disciplines, Favorite Books, and More
The Laws of Creativity: How to Unlock Your Originality and Awaken Your Creative Genius | Joey Cofone, Author & Founder of Baronfig
Trailer – The Laws of Creativity: How to Unlock Your Originality and Awaken Your Creative Genius | Joey Cofone, Author & Founder of Baronfig
On Obsessing Over Problems, Predicting the Future, and Why Healthcare Should be a Product (Not a Service)
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
U.S Property Podcast
Aligned Money Show
Dubai Property Podcast
The Ramsey Show
The Clark Howard Podcast