Joe Lonsdale: American Optimist - Ep 91: "I whooped his ass!" Legendary Investor & Home Depot Founder Ken Langone on Leadership, Courage & Defeating the Bad Guys

Ep 91: "I whooped his ass!" Legendary Investor & Home Depot Founder Ken Langone on Leadership, Courage & Defeating the Bad Guys

07/03/24 • 43 min

4 Listeners

Ken Langone's father was a plumber and his mother a cafeteria worker — neither made it past 8th grade — yet Ken became a multi-billionaire investor, builder, and philanthropist. And he did so as an outspoken patriot, defender of capitalism, and man of honor, famously taking on one of the most corrupt politicians of our time — and winning!

In our conversation, we begin with Ken's investment philosophy, including how he became the largest shareholder in Eli Lilly. Next, we dive into leadership lessons and how he co-founded and grew Home Depot into an American icon valued at over $400 billion. But Ken is most proud of the fact that 3,000 associates who began pushing carts in the parking lot have gone on to become multi-millionaires within the company — a feat only possible under capitalism he says.

In the 2000s, Ken had a front-page showdown with then-NY Attorney General Eliot Spitzer. Most of the Wall Street bigwigs in Spitzer's crosshairs cowered and ran, but not Ken. He fought back and won, exposing Spitzer's abuse of power. Ken hilariously recounts his epic battles and demonstrates the importance of fighting for justice and defending the honor of your colleagues, no matter the cost.

Finally, we discuss the impact of Ken's prolific philanthropy, such as his recent $200 million donation to help make NYU Medical School tuition-free. For decades, he's also been a leader in education reform, including one of the greatest urban success stories: Harlem Children's Zone. They have proven that kids from the most difficult areas and family backgrounds can succeed, and have revealed the failings of the teachers' unions and education establishment.

I'm fortunate to call Ken a friend and mentor. There will never be another quite like him, but we should do our best to follow his lead!

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit blog.joelonsdale.com

I'm fortunate to call Ken a friend and mentor. There will never be another quite like him, but we should do our best to follow his lead!

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit blog.joelonsdale.com

Previous Episode

Ep 90: Ethan Penner on Choosing Greatness & Pioneering New Markets on Wall Street

Is greatness a choice? If so, why doesn't everyone choose greatness? And more broadly, what are the prerequisites for a great society?

This week, I'm joined by Ethan Penner, author of the new book "Greatness Is a Choice" and one of the most influential figures in modern real estate. In his early 30s, Ethan pioneered the creation of commercial mortgage-backed securities and helped build a new market at a critical moment in history. We discuss his journey from the streets of Yonkers to the heights of Wall Street and what he learned from industry greats like Sam Zell.

Ethan is also a student of history, religion, and philosophy who cares deeply about advancing freedom and helping others find purpose in life. His new book argues that most people misunderstand greatness and equate it to the top one percent of society. Rather, he believes that greatness is a daily decision to choose excellence, and by deliberately choosing excellence we can bring newfound meaning and fulfillment to our daily lives. Through concise and pointed chapters, like "The Debilitating Effects of the Victim Mentality" and “Equality Is Not the Point," Ethan diagnoses where our modern culture has gone awry and offers an antidote that can inspire us all to pursue greatness.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit blog.joelonsdale.com

Next Episode

Ep 92: High-Power Microwave & the Rise of Electronic Shields with Epirus CEO Andy Lowery

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Electronic shields are iconic elements of Star Trek, Star Wars, and other great American sci-fi. Once a fantasy, we are now building versions of these in real life! And they're a vital solution to a new type of threat confounding our legacy defense industry.

This real-life force field alternative is called directed high-power microwave (HPM), and it's an answer to drone swarms and the proliferation of autonomous, attritable threats. Founded out of 8VC Build in 2018, Epirus is building the world's most advanced HPM systems, capable of disabling hordes of drones and other electronic devices up to miles away — and it only costs pennies to fire! This week, we talk with Epirus CEO Andy Lowery about the science behind HPM and why the Army, Navy, Marines, Air Force, and Space Force are all pursuing Epirus' technology.

We begin with the changing nature of warfare and why harnessing — and defending against — autonomous, attributable systems is essential for any future conflict. Next, we dive into HPM technology and its myriad applications, from taking out drones, missiles, boats, and other vehicles to defending satellites in space. We also discuss the rise of "neo-primes" like SpaceX, Palantir, and Anduril and a new model for getting the best technology into the hands of our warfighters as quickly as possible. Finally, we discuss the importance of fusing Silicon Valley's AI and big data expertise with the U.S. defense-industrial base's advanced hardware experience in order to maintain our technological advantages over China and other adversaries.

Learn more about Epirus’ approach to electronic warfare, and follow Epirus on Social: YouTube, LinkedIn, X

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit blog.joelonsdale.com