#333 Red Bull's Billionaire Maniac Founder: Dietrich Mateschitz

What I learned from reading The Red Bull Story by Wolfgang Fürweger and Red Bull's Billionaire Maniac by Duff McDonald.  ---- Get access to the World’s Most Valuable Notebook for Founders by investing in a subscription to Founders Notes ---- Come and build in-person relationships at the Founders Only conference ---- (1:30) "In literal financial terms, our sports teams are not yet profitable, but in value terms, they are," he says. "The total editorial media value plus the media assets created around the teams are superior to pure advertising expenditures." (2:30) "It is a must to believe in one's product. If this were just a marketing gimmick, it would never work." (5:00) He doesn't place a premium on collecting friends or socializing: "I don't believe in 50 friends. I believe in a smaller number. Nor do I care about society events. It's the most senseless use of time. When I do go out, from time to time, it's just to convince myself again that I'm not missing a lot." (7:30) The most dangerous thing for a branded product is low interest. (Edwin Land: The test of an invention is the power of an inventor to push it through in the face of the staunch-not opposition, but indifference-in society. (Indifference is your enemy) (9:00) Nike, Adidas and Vans episodes: Shoe Dog: A Memoir by the Creator of Nike by Phil Knight. (Founders #186) Sneaker Wars: The Enemy Brothers Who Founded Adidas and Puma and The Family Feud That Forever Changed The Business of Sports by Barbara Smit. (Founders #109) Authentic: A Memoir by the Founder of Vans by Paul Van Doren. (Founders #216) (11:00) The lines between Red Bull, Red Bull athletes, and Red Bull events are blurry on purpose. To Mateschitz, it's just one big image campaign with many manifestations. (12:00) He has no plans to sell or take Red Bull public. "It's not a question of money. It's a question of fun. Can you imagine me in a shareholders' meeting?” (13:00) Red Bull’s Billionaire Maniac https://www.bloomberg.com/news/articles/2