Advice On Advisory Boards

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There are three main reasons that startups need advisory boards. The videos is ~7 minute long and was recorded in 2017 for the Nordic startups. 



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Obituary: Charles T. Munger

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My hero, Charlie Munger , passed away on November 28th, 2023. He was 99 years old.  I met Munger in 2007 at my first Berkshire Hathaway shareholder meeting . It was admiration at first few words. I liked his depth of understanding in multiple domains, his honesty, and his willingness to share his wisdom. Since then I have read all his available writings and seen him many times in Omaha or Los Angeles at various shareholder meetings. He profoundly influenced Warren Buffett and the entire investing and business world. The world has lost a great leader, thinker, and teacher.  Munger's response to my letter      Since meeting Munger, I continue to learn from him and share what I am learning.  Following are a few Munger teachings that have become my habits:  1. Inversion: When you want to solve a problem, start with inverting the problem. For example, if you have to figure out how to keep the airplanes safe, work on figuring out how they can crash.  2. Multi-disciplinary thinking:
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Marry the best who will have you and other wisdom from Munger and Buffett

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I spent the last weekend in Omaha, Nebraska with two of the my heroes- Charlie Munger and Warren Buffett . After attending the Berkshire Hathaway (BH) for a few years, I still get amazed how a shareholder meeting attracts 40,000+ people and the meeting is about two guys having fun. Everyone else  enjoys watching them have fun. The format is six hours of open Q&A. There is no preparation by Munger and Buffett. Anyone can ask anything about anything expect what BH is going to buy/sell next. You will see it in the notes  that a wide variety of topics are covered. Notes from previous years are available here . The David Sokol issue was covered by Buffett and that part of the meeting has been recorded so I have not covered it in my notes. You can see it here. Munger talked more this year compared to previous years. I just love this man. He is brilliant! Following are my random notes from the meeting: Buffett does two things in his job- 1) keep operating managers happy
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Systems Thinking as taught by Ackoff

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