This Week in Startups

Jason Calacanis covers startups, tech, markets, media, and all the hottest topics in business and technology. He also interviews the world’s greatest founders, operators, investors, and innovators.

Business Breakdowns: “The Founder” Ray Kroc and the Story of McDonald's | E1872

E1872 • Dec 29, 2023 • 84 mins

Lon Harris sits down with Jason to examine product-market fit and market-pull and their role in McDonald's success (21:11), the importance of complementary skill sets between founders within any startup. (32:41), the path of doubt, fear, and uncertainty that founders experience (45:29), and more!

Key Points

Resilience and the relentless pursuit of innovation and efficiency are central to startup success, as demonstrated by Ray Kroc's journey with McDonald's.
The importance of strategic deal-making and negotiation is highlighted by Kroc's ability to pivot from a failing franchise model to a lucrative real estate strategy.
Ownership and equity are crucial in business; the McDonald brothers' failure to retain equity in the rapidly growing McDonald's corporation resulted in a significant loss of potential wealth.

Speakers

Jason Calacanis

Host • 48%

Lon Harris

Guest • 45%

Nick Calacanis

Host • 6%

Partners

Chapters

0:00	Lon Harris joins Jason
3:35	Lon brings us quick hits on the film The Founder.
9:30	Lon shares his admiration for the film
10:16	Jason discovered the film through a curious link with Mark Knopfler.
12:02	Curotec - Check out http://www.curotec.com/twist and get $5000 off
16:00	Delving into the McDonalds' story
17:47	Discussion on a common entrepreneurial revelation: efficiency and customer focus
21:11	Examining product-market fit and market-pull in "The Founder" and its role in McDonalds' success.
24:09	Northwest Registered Agent - Get a 60% discount on your next LLC at http://www.northwestregisteredagent.c...
25:36	Building a series of innovations will create enormous value.
27:35	Ray Kroc takeaway: the pursuit of relentless self-improvement on the way to his one big win.
32:41	The importance of complimentary skill sets between founders within any startup.
34:25	Masterworks - Skip the waitlist to invest in fine art at https://www.masterworks.com/twist
35:43	Exploring strengths and criticisms of the franchise model.
41:36	The role of spouses in startup formation
45:29	The path of doubt, fear and uncertainty that founders experience before any winning.
49:54	Lessons around deal-making and negotiation.
1:00:07	The power struggle between the McDonald brothers and Ray Kroc
1:02:43	Discussing the significance of equity and stock ownership in business
1:08:26	Ray Kroc’s brilliance came from his power to observe value and opportunity.
1:16:51	Business Breakdown Awards for "The Founder"

Transcript

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