Acquired's Success Secret: Ben Gilbert's Quality Approach

Overview

This episode features Ben Gilbert, co-founder of the Acquired podcast, which dives deep into the histories and strategies of iconic companies. Ben shares insights into Acquired's meticulous research process, the importance of being contrarian and right in business, and the evolution of storytelling in podcasting. The conversation also explores the challenges of building a podcast audience organically and the lessons learned from studying successful companies.

Notable Quotes

- Every entrepreneur needs to look at themselves and say, in what way am I weird? In what way am I the best in the world at something, even if it's a strange something? - Ben Gilbert, on embracing individuality in entrepreneurship.

- This company moves like water. It finds a way, it figures out how to run downhill, where it needs to go, and it will adapt its product suite to do whatever it needs to do to be successful. - Ben Gilbert, on Meta's adaptability.

- Watches are meant to be worn. You only have precious moments on this earth, and if you can enrich them by feeling closer to your dad, what is money? - Ben Gilbert, on using sentimental items like a Rolex.

🕵️‍♂️ The Art of Deep Research

- Acquired episodes require 300+ hours of work, including 100 hours of independent research per host, 10 hours of recording, and extensive editing.

- Ben Gilbert and his co-host David Rosenthal read books, watch videos, interview former executives, and analyze investor transcripts to ensure accuracy and depth.

- The goal is to create audio movies that tell the complete story of a company in the most engaging way possible.

🎙️ Building a Podcast Empire

- Acquired grew organically through word-of-mouth, doubling its audience every year since its launch in 2015.

- The podcast's unique format—conversational storytelling based on deep research—sets it apart from typical interview or scripted shows.

- A pivotal Wall Street Journal article brought hundreds of thousands of new listeners, showcasing the power of media exposure.

📈 Lessons from Iconic Companies

- Success often stems from founders leveraging their unique traits to create something perfectly suited to a product, market, and moment in time.

- Long-term thinking and incentive alignment are critical. Companies like Meta, Hermes, and IKEA thrive by maintaining singular control and focusing on multi-decade strategies.

- Survivorship bias is inherent in studying successful companies, but Ben Gilbert emphasizes the importance of pursuing ideas entrepreneurs are irrationally passionate about.

⌚ Sentimentality and Legacy

- Guy Kawasaki shares a personal story about his father's unused Rolex President, prompting Ben Gilbert to reflect on the emotional value of heirlooms.

- Gilbert advises using sentimental items to enrich life experiences, even if it risks diminishing their monetary value.

- This discussion ties into Acquired's exploration of luxury brands like Rolex, highlighting the intersection of craftsmanship, history, and personal meaning.