#338 Monty Moncrief Texas Oil Billionaire

What I learned from reading Wildcatters: A Story of Texans, Oil, and Money by Sally Helgesen. ---- Get access to the World’s Most Valuable Notebook for Founders by investing in a subscription to Founders Notes ---- Founders merch available at the Founders shop ---- Vesto shows you all of your company's finances in one view. Schedule a demo with Vesto's founder Ben and tell him David from Founders sent you.  ---- (0:01) Family and business were the same thing to him. (1:00) We're one-hundred percent family owned, unincorporated, and independent, and we intend to stay that way. (1:00) He possessed the directness and the utter simplicity of the old and the truly great. (2:00) His unquestioning confidence in the worthiness of his enterprise made him seem impervious to doubts. (5:00) The Morgans always believed in absolute monarchy. While Junius Morgan lived, he ruled the family and the business. Until Junius died his massive shadow dominated his son’s life. — The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance by Ron Chernow. (Founders #139) (8:00) Everywhere they looked, they saw opportunity without limits. The land itself was empty, and so these men built cities upon it and founded dynasties. They left behind them a world made in their own image. (9:00) The old wildcatters had neither the time nor the inclination to question their own purposes, or to agonize about what the future consequences of their efforts might be. They just went out and did whatever was there to be done. (10:00) The trouble with this business is that everybody expects to find oil on the surface. If it was up near the top, it wouldn't be any trick to it. You've got to drill deep for oil. — The Big Rich: The Rise and Fall of the Greatest Texas Oil Fortunes by Bryan Burrough (Founders #149) (14:00) Charlie’s surfing model. One thing I learned from having dinner with Charlie was the importance of getting into a great business and STAYING in it. There’s a tendency in human