In this episode of the Duct Tape Marketing Podcast, former hedge-fund manager Andy Kessler gives his “unapologetic” advice and rules for helping entrepreneurs find that next big game changing innovation. The title of his most recent book – Eat People – comes from rule #7 – Find ways to get rid of useless jobs.
Some might be asking what a hedge fund guy knows about rules for entrepreneurs. Well, Kessler built a wildly successful fund by understanding and identifying the 12 rules outlined in this book as his way of picking winners from the losers. It’s a great point of view, unbiased in some ways from the traditional entrepreneurial thinking.
The book rides on the underlying theme that we’re all entrepreneurs and that the days of the traditional job are over – even inside of big companies. In fact, big companies are trying to act more entrepreneurial to stop the onslaught the nimble small biz.
Kessler explains how the world’s greatest entrepreneurs don’t just start successful companies-they overturn entire industries. He offers twelve surprising and controversial rules for these radical entrepreneurs, such as:
- Eat people: Get rid of worthless jobs to create more wealth for everybody
- Create artificial scarcity for virtual goods
- Trust markets to make better decisions than managers
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