#237 Julio Lobo (Cuba's Last Sugar Tycoon)

What I learned from reading The Sugar King of Havana: The Rise and Fall of Julio Lobo, Cuba's Last Tycoon by John Paul Rathbone. ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- [2:02] Beyond Possible: One Man, Fourteen Peaks, and the Mountaineering Achievement of a Lifetime (Founders #236) [3:22] This is a cautionary tale. [6:18] One of the main lessons of the book is just how fast things can change. [6:25] The History of Cuba in 50 Events [10:14] Lobo walked with a limp due to a murder attempt 14 years before that had blown a four inch chunk out of his skull. [12:29] One of the most human of all desires is to perpetuate what you have created. [12:55] Lobo thinks he has leverage when he really doesn’t. [18:39] He dies in poverty. Imagine having $5 billion and then at the end of your life having to rely on an allowance from your adult daughters. [20:30] I think about what Charlie Munger says: Don't try to be really smart. Just try to be consistently not dumb over a long period of time. [20:58] Hershey: Milton S. Hershey's Extraordinary Life of Wealth, Empire, and Utopian Dreams (Founders #146) [22:59] Chico, I was born naked. I will probably die naked. And some of the happiest moments of my life happened when I was naked. [29:01] From an early age it was apparent that Lobo sought not only wealth but glory too. [30:21] He was an individualist who did not spare himself any sacrifice to attain his objectives. [31:26] The clearest path to wealth is building a business that benefits somebody else's life. Make a product or service that makes somebody else's life better. Do that for a long period of time and keep improving it. [33:45] His father told him I would much rather you make your mistakes now than later when I may not be around to pick up your pieces. [38:16] It turns out that almost being executed makes you impatient for large success. [40:32] If you instead focus on the prospective price change of a contemplated purcha