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Show Notes

(00:03:20) - (First question) - The intersection between the current tech sector drawdown and the historical track record of industrial titans

(00:07:10) - The most common ways they see companies start to fail and the types of errors they commit

(00:11:01) - The best historical examples of companies that have gone from non-operational excellence to operational excellence

(00:15:04) - Teaching the value of a business system and installing one for longevity

(00:24:06) - Questions they’d ask and points of evaluation to uncover the health of a business

(00:31:19) - Thinking about sustainable value creation in a lower growth environment

(00:37:04) - Lessons from operating leverage and the rental industry

(00:39:11) - Ways industrial companies have handled growth CapEx well and badly

(00:43:52) - The line between discovering the future in a lab versus major pivots in reality while trying to solve today’s problems

(00:49:37) - How the best managers nurture a great shareholder base

(00:55:35) - Lessons to learn about business model transitions

(01:00:13) - Further important messages from their book that businesses would benefit from

(01:04:30) - The kindest things anyone has ever done for them