TBOY Lite for Wednesday, January 28th

This is Nick. This is Jack. It's Wednesdays, and we check Wednesday January 28th. The city's spot is the best one yet. This is a T-boy. Here's the top business story you need to know today. Reading is the secret superpower of business success. And we found five great businesses that were born from one thing read by one person. And being 70th percent out in three things will make you incredibly successful in one thing. Ah, that's the 70, 70, 70 percent rule. We'll get to it. But first, besties. One out of four of you have not read a single book in the last year. We've got the details, we got the stats. We're not knocking on you to your English teacher right now. No, we're not judging. But wait till you're the end of the story. Because we've told you before the wild stat about Warren Buffett. He claims to read 500 pages a day. And not just novels and biographies, by the way. Warren Buffett's 500 pages a day include newspapers, reports, work stuff, all that good stuff. Before this man punches out, the world's best investor read a moby dick worth of text every day. So the reason besties. Warren Buffett's Berkshire Hathaway stock is up 6 million percent in 60 years. And yes, that's a real number. It's that reading is like compound interest for your brain. But besties. The real ROI on binge reading. It's not about everything you read. It's about one thing you read. Because Warren Buffett actually read Baron's magazine for 50 years. It's magazine about investing. But he only found one investing opportunity that he acted on. But here's the key. That one idea led to an investment that made a 400 to 500 million dollar profit. So as Warren said, I have made a 400 to 500 million dollar profit from reading Baron's for 50 years and following just one idea. It's a single line win. Basically, a single needle in a haystack of reading was a breakthrough for Warren Buffett worth half a billion bucks. And it turns out many of the greatest innovations in business started because a founder read one line that he or she couldn't stop thinking about. And Jack and I read about this concept in the newsletter by Trunk Fan, which we happen to be fans of. So like, for example, Jack, tell us about Trader Joe's joke alone, ready statistic in scientific and American magazine about the rise in college degrees. So he created a grocery store for the quote unquote overeducated underpaid Jeff Bezos read in a magazine that the internet was growing at 23 hundred percent per year. So he quit his job and started something called Amazon. Why did Sarah Blakely name her shape for a business spanks? Well, she read in a book that consumers like the sound of K like Coca-Cola, Kodak or Spanks. Phil Knight was lying around reading a newspaper about Japanese trading companies being flush with cash in the 1960s. So he reached out to one of them and funded his struggling startup, Nike. And what led to Bill Gates' passion for the personal computer? Well, he read a line in popular mechanics that stopped him in his tracks. And those are his words. And you know what besties? Jack and I have the same approach to storytelling. That's how we build every story of this podcast, right, Jack? We'll read a whole earnings report or an entire article and turn one line that we couldn't stop thinking about into the entire story. So Jack, what's the takeaway for our bodies over in business? Reading is how you unlock the 70-70-70% role of success. Look, yet he's reading won't make you the greatest expert in one topic, but it will make you knowledgeable. Reading a book on say the hotel industry. It's not going to put you in the 99th percentile of hotels, but it will put you in the 70th percentile. And Trunks, inside from this, it's that it's better to be 70th percentile in many things than 99th percentile at one thing. To know more than 70% of people about one thing doesn't take that much time. You could do it just by reading one book. But knowing more than 99% of people, that's going to require years of study. And if you stack up the skills in which you're at 70th percentile, then together that is powerful. For instance, the best comic book illustrator of all time, he was 70th percentile humor, 70th percentile writing, 70th percentile drawing. And the overlap of three 70th percentiles makes you a 99 percentile, but in a fraction of the time. It's like the saying Jack of all trades master of none, but often better than a master of one. That's the full quote. Dusty's reading, it gets us to 70% expertise fast. And 70% in three skills, that is a talent stack. Yeti's, you're looking fantastic today. But if you haven't yet, tap to follow us. There's a little plus button on Spotify, and that way you make sure you get us every single day. Nick and I will see you tomorrow. Can't wait.