Tren Griffin

I work for Microsoft. Previously I was a partner at Eagle River, a private equity firm established by Craig McCaw.

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Book Recommendations:

TG

Recommended by Tren Griffin

9/ If you want to be a better operator or know more about how to identify one, you will find this book to be valuable. I've seen some of the best operators "up close and personal." I'll think about whether I write more about them in the context of this book. That's all for now. (from X)

Wall Street Journal, USA Today, and Publishers Weekly Bestseller The secret to leading growth is your mindset Snowflake CEO Frank Slootman is one of the tech world's most accomplished executives in enterprise growth, having led Snowflake to the largest software IPO ever after leading ServiceNow and Data Domain to exponential growth and the public market before that. In Amp It Up: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity, he shares his leadership approach for the first time. Amp It Up delivers an authoritative look at what it takes to transform an organization for maximum growth and scale. Slootman shows that most leaders have significant room to improve their organization's performance without making expensive changes to their talent, structure, or fundamental business model―and they don’t need to bring in an army of consultants to do it. What they do need is to align people around what matters and execute with urgency and intensity every day. Leading for unprecedented growth means declaring war on mediocrity, breaking the status quo, and making conflicted choices daily, all with a relentless focus on the mission. Amp It Up provides the first principles to guide that change, and the tactical advice for organizing a company around them. Perfect for executives, entrepreneurs, founders, managers, and leaders of all kinds, Amp It Up is a must-read resource for anyone who seeks to unleash the growth potential of a company and scale it to heights they never thought possible.

TG

Recommended by Tren Griffin

2/ Trillions: How a Band of Wall Street Renegades Invented the Index Fund and Changed Finance Forever by Robin Wigglesworth. Disclosure: I love people like Robin who tell stories. When I receive a free book to review (even in galley format) I like that.https://t.co/CJlzR4UCRn, (from X)

From the Financial Times's global finance correspondent, the incredible true story of the iconoclastic geeks who defied conventional wisdom and endured Wall Street's scorn to launch the index fund revolution, democratizing investing and saving hundreds of billions of dollars in fees that would have otherwise lined fat cats' pockets. Fifty years ago, the Manhattan Project of money management was quietly assembled in the financial industry's backwaters, unified by the heretical idea that even many of the world's finest investors couldn't beat the market in the long run. The motley crew of nerds—including economist wunderkind Gene Fama, humiliated industry executive Jack Bogle, bull-headed and computer-obsessive John McQuown, and avuncular former WWII submariner Nate Most—succeeded beyond their wildest dreams. Passive investing now accounts for more than $20 trillion, equal to the entire gross domestic product of the US, and is today a force reshaping markets, finance and even capitalism itself in myriad subtle but pivotal ways. Yet even some fans of index funds and ETFs are growing perturbed that their swelling heft is destabilizing markets, wrecking the investment industry and leading to an unwelcome concentration of power in fewer and fewer hands. In Trillions, Financial Times journalist Robin Wigglesworth unveils the vivid secret history of an invention Wall Street wishes was never created, bringing to life the characters behind its birth, growth, and evolution into a world-conquering phenomenon. This engrossing narrative is essential reading for anyone who wants to understand modern finance—and one of the most pressing financial uncertainties of our time.

TG

Recommended by Tren Griffin

Blockchain bunny children's book tho. "It is the story of a charming bunny rabbit taking delight in capitalism, classical liberalism, blockchain technology and the finer things in life like travel, brandy and culture as well as things Japanese.” https://t.co/amx9vxIAlp https://t.co/uctPwiVNVY (from X)

The Sphinxing Rabbit: Book of Hours: Les Très Riches Heures du Duc de Bunny book cover

by Pauline Chakmakjian, Nilesh Mistry;Nilesh Mistry·You?

If you could do anything, who would you be? The Sphinxing Rabbit series of books continues with Book of Hours, a delightful and amusing solution to a concern Tocqueville had for American equality - that the absence of an aristocratic class led to a lack of progress in the arts and theoretical sciences resulting in no true intellectual class. Again, spot the allusions to a few famous works of art as well as several blockchain applications.

TG

Recommended by Tren Griffin

1/ How many great Michael Mauboussin essays have you read over the years? Too many to count? His contribution to financial literacy is IMMENSE. He is a hero of financial education. I read this book in galley format. If you don't plan read it, what the heck will you read? https://t.co/HTCDsjNbv3 (from X)

Most investment books try to assess the attractiveness of a stock price by estimating the value of the company. Expectations Investing provides a powerful and insightful alternative to identifying gaps between price and value. Michael J. Mauboussin and Alfred Rappaport suggest that an investor start with a known quantity, the stock price, and ask what it implies for future financial results. After showing how to read expectations, Mauboussin and Rappaport provide a guide to rigorous strategic and financial analysis to help investors assess the likelihood of revisions to these expectations. Their framework traces value creation from the triggers that shape a company’s performance to the impact on the value drivers. This allows a practitioner of expectations investing to determine whether a stock is an attractive buy or sell candidate. Investors who read this book will be able to evaluate stocks of companies in any sector or geography more effectively than those who use the standard approaches of most investors. Managers can use the book’s principles to devise, adjust, and communicate their company’s strategy in light of shareholder expectations. This revised and updated edition reflects the many changes in accounting and the business landscape since the book was first published and provides a wealth of new examples and case studies.

TG

Recommended by Tren Griffin

@michaelbatnick @mjmauboussin You or another podcaster like @ritholtz should interview Michael Mauboussin just about the ideas and best practices in his "Expectations Investing" book and what he learned from his colleague and co-author Alfred Rappaport. This book is fantastic. https://t.co/YwkGRETliB (from X)

Expectations Investing: Reading Stock Prices for Better Returns book cover

by Alfred Rappaport, Michael J. Mauboussin·You?

Expectations Investing offers a unique and powerful alternative for identifying value-price gaps. Rappaport and Mauboussin provide everything the reader needs to utilize the discounted cash flow model successfully. And they add an important twist: they suggest that rather than forecasting cash flows, investors should begin by estimating the expectations embedded in a company's stock price. An investor who has a fix on the market's expectations can then assess the likelihood of expectations revisions. To help investors anticipate such revisions, Rappaport and Mauboussin introduce an "expectations infrastructure" framework for tracing the process of value creation from the basic economic forces that shape a company's performance to the resulting impact on sales, costs, and investment. Investors who use Expectations Investing will have a fundamentally new way to evaluate all stocks, setting them on the path to success. Managers will be able to use the book to devise, adjust, and communicate their company's strategy in light of shareholder expectations.

TG

Recommended by Tren Griffin

@nickarner Craig is one in my best friends so I'm probably the wrong person to ask. It is the only book about him and is worth reading. It's not complete account of his story but as far as books go, very good. I know too much in this case and think I could write a better book. (from X)

From Jay Gould to John D. Rockefeller to Bill Gates, the titans who change the world have set themselves apart by seizing the high ground before anyone else even knew it existed. Gutsy, shrewd, and ruthless, they were, above all, visionaries who saw whole new industries where others saw only chaos. Today, another visionary is seizing control of the vast new world of telecommunications, an elusive entrepreneur named Craig McCaw. Money from Thin Air is the story of how he created a new industry literally from thin air, and how he will do it again. Journalist O. Casey Corr vividly portrays here for the first time how McCaw created a cellular communications empire from the disarray of his father's failed cable business and went on to sell it to AT&T in 1993 for a stunning $12.6 billion. And he shows how McCaw is now creating another new industry that could dwarf the accomplishments of Gates and Rockefeller put together, an "Internet in the Sky" that will provide high-speed data access to any point in the world. Most of all, Corr captures the heart of a new kind of executive -- mercurial, brilliant, extremely flexible, always entreprenurial -- who is changing the way business works forever. A Leadership Style for the Twenty-first Century: McCaw's radically different approach to management--based on hard-nosed negotiation, shrewd borrowing, and a rare willingness to change business plans on a dime--is the new model for anyone who wants to survive, let alone thrive, in the new economy. This book shows how McCaw's unique management style evolved by instinct and from periods of intense personal reflection and self-scrutiny. Insight into the Emerging New Media Landscape: Today, the telecom world is in turmoil. Giant companies are vulnerable because of their entrenchment in old technology and high cost. So they merge; bigger must be better. At a different level, start-ups tap new pools of capital and maneuver to exploit opportunities created by stumbling giants and collapsing regulation. Increasingly, it's a game for the nimble and the daring. The telecommunications world has come around to Craig McCaw's way of business. An Amazing Life: Rarely does a family make and remake a fortune. Craig McCaw's father literally ran his multimillion-dollar radio and television business out of his hat, and when he died suddenly at an early age, the family's bank declared the estate insolvent. McCaw, then only twenty years old, rejected the advice of more experienced businessmen and began investing the money he got from his father's life insurance in a series of businesses most thought worthless, or at best, extremely risky. His career since then has been a series of increasingly large-scale ventures based on a unique personal vision of an emerging human society in which all of us will be freed by technology. The Next Big Thing: McCaw made one fortune in cable TV and another in cellular telephones. Now he's building a telecommunications empire of staggering potential through a collection of companies he controls: Teledesic, a satellite partnership with Microsoft's Bill Gates that is building a global "Internet in the Sky"; Nextlink, a company positioning itself to rival the Baby Bells with its own vast network of fiber-optic cable and switching systems; CablePlus, a company that provides voice service, Internet access, and TV signals through coaxial cable; and Nextel, an international wireless-telephone company with an expanding role in data services. Each company alone is breathtaking in its ambition, hunger for capital, and risk-taking management style. Together, they provide a glimpse at the depth of McCaw's ambition: one company capable of providing high-speed data access to any point in the world. Odd, mysterious, yet public-spirited, McCaw is a technological visionary who sees profit where others see thin air. His amazing, ongoing story is required reading for anyone wanting to understand what it takes to build an industry from scratch -- twice.

TG

Recommended by Tren Griffin

When an actually useful book like Range by David Epstein breaks through to best seller lists, it makes me smile. https://t.co/gxHT0tyXla https://t.co/hcMOrazUaT (from X)

The #1 New York Times bestseller that has all America talking: as seen/heard on CNN's Fareed Zakaria GPS, Morning Joe, CBS This Morning, The Bill Simmons Podcast, Rich Roll, and more. “The most important business—and parenting—book of the year.” —Forbes “Urgent and important. . . an essential read for bosses, parents, coaches, and anyone who cares about improving performance.” —Daniel H. Pink Shortlisted for the Financial Times/McKinsey Business Book of the Year Award Plenty of experts argue that anyone who wants to develop a skill, play an instrument, or lead their field should start early, focus intensely, and rack up as many hours of deliberate practice as possible. If you dabble or delay, you’ll never catch up to the people who got a head start. But a closer look at research on the world’s top performers, from professional athletes to Nobel laureates, shows that early specialization is the exception, not the rule. David Epstein examined the world’s most successful athletes, artists, musicians, inventors, forecasters and scientists. He discovered that in most fields—especially those that are complex and unpredictable—generalists, not specialists, are primed to excel. Generalists often find their path late, and they juggle many interests rather than focusing on one. They’re also more creative, more agile, and able to make connections their more specialized peers can’t see. Provocative, rigorous, and engrossing, Range makes a compelling case for actively cultivating inefficiency. Failing a test is the best way to learn. Frequent quitters end up with the most fulfilling careers. The most impactful inventors cross domains rather than deepening their knowledge in a single area. As experts silo themselves further while computers master more of the skills once reserved for highly focused humans, people who think broadly and embrace diverse experiences and perspectives will increasingly thrive.

TG

Recommended by Tren Griffin

@TheStalwart I have written seven books. How much a book sells and how good the book is are only loosely correlated. The best recent book I have read on business is Shoe Dog by Phil Knight. The best collection of business books are those written by Michael Mauboussin. https://t.co/3kQO1yMOng (from X)

NEW YORK TIMES BESTSELLER In this candid and riveting memoir, for the first time ever, Nike founder and board chairman Phil Knight shares the inside story of the company’s early days as an intrepid start-up and its evolution into one of the world’s most iconic, game-changing, and profitable brands. Young, searching, fresh out of business school, Phil Knight borrowed fifty dollars from his father and launched a company with one simple mission: import high-quality, low-cost running shoes from Japan. Selling the shoes from the trunk of his Plymouth Valiant, Knight grossed eight thousand dollars that first year, 1963. Today, Nike’s annual sales top $30 billion. In this age of start-ups, Knight’s Nike is the gold standard, and its swoosh is more than a logo. A symbol of grace and greatness, it’s one of the few icons instantly recognized in every corner of the world. But Knight, the man behind the swoosh, has always been a mystery. Now, in a memoir that’s surprising, humble, unfiltered, funny, and beautifully crafted, he tells his story at last. It all begins with a classic crossroads moment. Twenty-four years old, backpacking through Asia and Europe and Africa, wrestling with life’s Great Questions, Knight decides the unconventional path is the only one for him. Rather than work for a big corporation, he will create something all his own, something new, dynamic, different. Knight details the many terrifying risks he encountered along the way, the crushing setbacks, the ruthless competitors, the countless doubters and haters and hostile bankers—as well as his many thrilling triumphs and narrow escapes. Above all, he recalls the foundational relationships that formed the heart and soul of Nike, with his former track coach, the irascible and charismatic Bill Bowerman, and with his first employees, a ragtag group of misfits and savants who quickly became a band of swoosh-crazed brothers. Together, harnessing the electrifying power of a bold vision and a shared belief in the redemptive, transformative power of sports, they created a brand, and a culture, that changed everything.