Shane Parrish

mental modelsdecision-makingwisdom

Founder of Farnam Street. Explores mental models, decision-making, and the art of thinking clearly. Host of The Knowledge Project podcast.

Website @ShaneAParrish

Latest Episodes

[Outliers] Phil Knight: The Obsession That Built Nike

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This episode explores how Phil Knight founded Nike and survived nearly two decades of financial peril, facing simultaneous threats from his bank, suppliers, and the U.S. government. Shane Parrish examines Knight's relentless obsession, willingness to operate on the edge of insolvency, and the belief and trust that held Nike together through its darkest moments. The story highlights how Nike's path to becoming one of the world's most powerful brands was far from guaranteed and required extraordinary resilience.

Nike operated on the brink of insolvency for nearly 20 years, with growth constantly outpacing available capitalKnight's success came from unwavering belief and obsession even when his bank, supplier, and government all turned against him simultaneouslyThe price of ambitious growth is living with constant fear and uncertainty, not the smooth success story most people assume

Feb 24, 2026

The $2 Trillion Mind | Nicolai Tangen

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Nicolai Tangen, CEO of the world's largest sovereign wealth fund managing $2.1 trillion, discusses the psychological and strategic frameworks behind investing at massive scale, including navigating the AI revolution, the rise of passive investing, and the importance of speed and adaptability in decision-making. He shares insights on leadership, hiring, how he prepared for his role through 140 conversations, and the cultural differences between American and European approaches to innovation and risk-taking. The conversation also covers how he evaluates CEOs, builds long-term thinking into an organization, and deliberately seeks out disagreement to stress-test investment decisions.

Speed and urgency are underrated organizational tools — fast decision-making creates competitive advantage even at massive scaleActively seeking disagreement and testing assumptions before big investments prevents costly confirmation biasThe rise of passive investing is concentrating market power and reducing price discovery, creating systemic risks

Feb 17, 2026

The Psychology of Power | Michael Ovitz

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Michael Ovitz, co-founder of CAA and a transformative figure in Hollywood, shares the operating principles and personal disciplines that drove his success in talent representation and later in tech investing. He discusses how radical honesty, relentless learning, and relationship management helped him build and maintain power, while also reflecting on failures and what he'd tell his younger self. The conversation covers hiring philosophies, reading habits, the importance of momentum and packaging ideas, and lessons learned from working with brilliant minds like Marc Andreessen and Patrick Collison.

Always tell the truth without hesitation — credibility is your most valuable and fragile asset in any relationshipNever get high on your own supply — stay grounded and maintain personal discipline even as power and success growPackage ideas into actionable outcomes — the ability to frame and present information compellingly is what turns good ideas into real results

Feb 3, 2026

How McDonald’s Took Over America | Ray Kroc [Outliers]

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This episode explores how Ray Kroc transformed McDonald's from a single restaurant into a global empire, starting at age 52 after decades of selling paper cups and milkshake machines. The episode breaks down how Kroc's genius lay not in the food itself but in building a replicable system based on strict standards, smart franchising, and a real estate strategy that became the true engine of McDonald's growth. It highlights how relentless execution, consistency, and persistence turned a simple hamburger stand into one of the most successful business machines in American history.

Kroc's real innovation was building a scalable system of standards and execution, not a better hamburgerMcDonald's true business model was built on real estate ownership rather than just food salesStarting his biggest venture at 52 proves that persistence and timing matter more than youth

Jan 27, 2026

Morgan Housel: Wealth is What You Have Minus What You Want

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Morgan Housel discusses his framework for building and maintaining wealth, emphasizing that getting rich and staying rich require fundamentally different skill sets. He argues that true wealth is defined not by what you accumulate but by the gap between what you have and what you want, and that financial independence and freedom should be the ultimate goals of money. The conversation covers practical investing advice favoring simple index fund strategies, the psychological traps of social comparison, and historical lessons about navigating financial downturns.

The skills needed to get rich (risk-taking, optimism, boldness) are completely different from the skills needed to stay rich (humility, frugality, survival mindset)Wealth equals what you have minus what you want — contentment comes from managing expectations and avoiding the social comparison trap rather than endlessly accumulating moreSimple, boring index fund investing consistently outperforms complex strategies because it removes emotional decision-making and leverages long-term compounding

Jan 20, 2026

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