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006 - Bureaucracy for Good with Lee Schafer
Manage episode 275528378 series 2813825
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00:36 – Kevin and Nick welcome to the show, Lee Schafer who speaks to his background as a business columnist and his thoughts on the concept of bureaucracy for good
10:34 – Lee talks about the importance of understanding opportunity costs and where your business’s money is going
15:53 – Lee expounds on the brilliant business model that Alfred P. Sloan created for General Motors
23:54 – The mindset of money and capital allocation as a business and an entrepreneur
32:35 – Kevin and Nick thank Lee for joining the show
EPISODE QUOTES
“If you go back to the nineteen teens and the nineteen twenties, Detroit was Silicon Valley. It was the Wild West.” (05:25)
“Your line managers are always gonna be – or they should be anyway – optimists. They should be strategic. They should be looking for opportunities to grow their operation. But ultimately they do compete, and they compete for their parent company’s checkbook.” (09:51)
“Which kinda makes the achievement of [Elon] Musk and Tesla pretty remarkable. That’s not a normal guy. You can tell that capital has been very much a part of their whole story…he’s the most interesting figure maybe in my lifetime.” (28:40)
“And they [Target] still do that. You can still listen to those folks talk about investment capital and ask ‘are we gonna invest in our store or are we gonna invest in our distribution capability for online?’ This is the methodology where you go about doing it.” (32:06)
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