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The Knowledge Project

The Knowledge Project

Written by: Shane Parrish
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Uncovering the timeless principles that drive success. Hosted by Shane Parrish (entrepreneur, investor, speaker, and author), the goal of each episode is simply to master the best of what other people have already figured out. Learn More: Timeless insights into business and life in 5 minutes a week: https://fs.blog/newsletter Shane's Books: https://fs.blog/booksFarnam Street Media Inc. Economics Personal Finance
Episodes
  • Charlie Munger's Interview with Todd Combs

    Charlie Munger's Interview with Todd Combs
    Oct 6 2026
    I'm excited to share this previously unreleased 2022 conversation between Charlie Munger and Todd Combs. As with any Munger talk, the subjects are both deep and wide. I've pulled out the ideas that most resonated with me. You'll learn how Munger recognized people worth betting on, chose problems worth solving, and turned a long attention span into an unfair advantage. I also unpack one of Berkshire’s most under appreciated (and unnoticed) strengths: positioning themselves to master their circumstances rather than be mastered by them. A special thank you to the Singleton Foundation, Todd Combs, and William Thorndike for giving me the permission to share this with you. You can find a link to the full transcript here. ----- Chapters: (00:00) Introduction (01:46) How Charlie Munger Thought About Exceptional People (03:00) Tom Murphy and Radical Delegation (03:25) The Wooden Lesson (05:22) Temperament Over IQ (06:50) The Dormitory Lesson (09:21) From Cigar Butts to Great Businesses (10:20) The 20-Punch Card (11:41) Booms, Busts, and Autocatalysis (13:18) Sowing vs. Reaping: The 1974–75 Crash (14:10) Positioning (15:55) Rockefeller's Lucky Break (17:21) Size Doesn't Matter (18:34) The Operating System for Life ------ Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Follow Shane Parrish: X: ⁠⁠⁠⁠⁠⁠⁠https://x.com/shaneparrish⁠⁠ Insta: ⁠⁠https://www.instagram.com/farnamstreet/⁠⁠ LinkedIn: ⁠⁠https://www.linkedin.com/in/shane-parrish-050a2183/⁠⁠ ----- Thank you to the sponsors for this episode: + See how Stripe can power what’s next for your business at stripe.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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    21 mins
  • Bill Ackman: The Biggest Fight of His Life

    Bill Ackman: The Biggest Fight of His Life
    Sep 29 2026
    Bill Ackman is the founder and CEO of Pershing Square Capital Management, one of the most closely watched investment firms in the world. In this conversation, he breaks down how he tells the difference between real innovation from hype, what he looks for before making a billion-dollar investment, and why he sold Netflix—and later bought it back. He also shares the mistakes that reshaped his investment process and his plan to build a modern-day Berkshire Hathaway. Bill also opens up about something far more personal: his daughter Lucy’s sudden brain hemorrhage, the hours before surgery, and her ongoing recovery. He describes running his business from a hospital room and the institute he and his wife are building to help other families facing similar challenges. Enjoy! ----- Chapters: (00:00) Intro (00:53) The Night His Daughter Nearly Died (08:49) His Plan to Rethink Brain Recovery (16:15) Could Her Ring Have Raised the Alarm? (17:07) How He Holds It Together (23:17) How Bubbles Pull You In (23:49) Is Venture in a Bubble? (25:23) When Easy Money Runs Out (28:05) He Hated the Idea. He Invested. (30:05) Who Actually Profits From AI? (35:53) The Rules He Carved in Stone (39:15) The Trade He Won't Make Again (42:02) Why He Consults "Dr. Claude" (46:14) Waiting for a Cheaper Market? (48:20) Netflix: Why He Changed His Mind (51:36) Howard Hughes and The Assets Nobody Wanted (53:22) What If You Owned a City? (01:00:02) Berkshire's Most Overlooked Advantage (01:04:36) From Watch Buyer to Company Owner (01:09:42) How He Judges CEOs in an Hour (01:14:19) What's Left to Achieve at 60? ----- Follow Bill Ackman: X: ⁠https://x.com/BillAckman⁠ ----- Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Follow Shane Parrish: X: ⁠⁠⁠⁠⁠⁠⁠https://x.com/shaneparrish⁠⁠ Insta: ⁠⁠https://www.instagram.com/farnamstreet/⁠⁠ LinkedIn: ⁠⁠https://www.linkedin.com/in/shane-parrish-050a2183/⁠⁠ ----- Thank you to the sponsors for this episode: +Applovin: Launch your first AppLovin campaign and grow your business: ⁠https://applovin.com/shane⁠ +HeyGen is a message-first AI video platform that helps people and AI agents turn ideas into professional video in minutes. Try for free at ⁠https://www.heygen.com/tkp⁠ +Matic: the robot vacuum that does it all—grab yourself a year of free bags here. ⁠http://maticrobots.com/shaneparrish⁠ +LMNT: My go-to zero sugar electrolytes — get a free LMNT Sample Pack here: ⁠https://DrinkLMNT.com/TKP⁠ ----- + Members get the longer, extended version of this conversation, with additional content not included in the public release.Learn more: ⁠https://fs.blog/membership/⁠ ----- Note: ‍Shane and guests may hold positions in assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. Nothing in this conversation should be considered investment advice, financial guidance, or a recommendation to buy or sell any security. Always do your own due diligence or consult with a qualified financial advisor before making investment decisions. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    1 hr and 18 mins
  • Tobi Lütke: The Skills AI Makes More Valuable

    Tobi Lütke: The Skills AI Makes More Valuable
    Sep 15 2026
    Shopify founder and CEO Tobi Lütke joins Shane Parrish to discuss AI agents, better decision-making, and the future of work. He explains how he uses an AI council to examine his hardest decisions and why taste, judgment, and responsibility become more valuable as AI becomes more capable. They go inside Shopify’s work with River, an AI colleague with memory, personality, and permission to challenge the CEO. They explore how to choose between several good options, why the best long-term decisions often lack immediate feedback, and why building something that lasts requires pruning and rebuilding. Tobi also shares how he cultivates intuition, the affirmations he uses to change his own behavior, and why his kids must add “yet” when they say they can’t do something. Enjoy! ----- Chapters: (00:00) Introduction (3:46) The Case for Skeuomorphism (5:16) How Bing's Chatbot "Sydney" Inspired Shopify's AI (7:18) River: Shopify's Internal AI (8:55) How to Encourage Osmosis Learning (10:52) AI Dreaming and Self-Reflection (11:53) How to Use AI for Strategic Decision Making (14:11) The One Thing AI Cannot Do (16:04) What AI is Making Worse at Shopify (19:46) Predictions: Where AI is Headed Next (21:55) The Future of AI-Powered Software (24:40) Will CEOs Be Replaced with AI? (27:54) Can Superintelligence Be Controlled? (31:13) Critical Skills in AI Age (34:22) Why Complex Solutions are Usually Wrong (36:33) Conditions Needed for True Intuition (38:02) The Optimal Path Doesn't Have Instant Feedback (44:51) How Affirmations Can Shift Your Behavior (50:44) The Inobvious Thing Hurting Companies (52:37) Relationship Between Beauty and Creation (56:23) How SpaceX Moves Forward By Subtraction (1:00:24) Why Companies Need Refounding Events (1:01:50) Use Books as Cheat Codes (1:02:39) Three Books That Change Your Thinking ----- Follow Tobi: X: https://x.com/tobi ------ Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Follow Shane Parrish: X: ⁠⁠⁠⁠⁠⁠https://x.com/shaneparrish⁠ Instagram: ⁠⁠⁠⁠⁠⁠https://www.instagram.com/farnamstreet/⁠ LinkedIn: ⁠https://www.linkedin.com/in/shane-parrish-050a2183/⁠ ----- + Members get the longer, extended version of this conversation, with additional content not included in the public release.Learn more: https://fs.blog/membership/ ------ Thank you to the sponsors for this episode: +Applovin: Launch your first AppLovin campaign and grow your business: https://applovin.com/shane +Matic: the robot vacuum that does it all—grab yourself a year of free bags here: https://maticrobots.com/shaneparrish ⁠⁠+HeyGen is a message-first AI video platform that helps people and AI agents turn ideas into professional video in minutes. Try for free at ⁠⁠https://www.heygen.com/⁠tkp +LMNT: My go-to zero sugar electrolytes — get a free LMNT Sample Pack here: https://DrinkLMNT.com/TKP ------ *Note:* ‍Shane and guests may hold positions in assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. Nothing in this conversation should be considered investment advice, financial guidance, or a recommendation to buy or sell any security. Always do your own due diligence or consult with a qualified financial advisor before making investment decisions. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    1 hr and 6 mins
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- I do not bore you with you vast prescription of the show and how should over anypodcast
- the knowledge is same like everyone else
- but i can assure you, that after listening to this podcast you do not think that you wasted of your time ..........
- this podcast is worth of your time ..........

- i love the concept of the show.........

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amazing podcast i listen at least 1 podcast every day when I go to train 🚆

very good podcast especially all interview 👍...... from MADHUBANI BIHAR INDIA

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this is the most beautiful important and valuable podcast that I found! thanks for this!!

the most valuable podcast!

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