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February 26, 2025
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Carl Ichan, Two Pizza Rule and Developing Self-Control Habits
At a glance
This edition is brought to you by Percent
Good morning to all new and old readers! Here is your Wednesday edition of Faster Than Normal, exploring one short story about a person, a company, a high-performance tool, a trend I’m watching closely, and curated media to help you build businesses, wealth, and the most important asset of all: yourself.
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Today’s edition:
> Stories: Carl Ichan & Play-Doh
> High-performance: Two Pizza Rule
> Insights: Path to success
> Tactical: Developing self-control habits
> 1 Question: Sharp innovator
Cheers,
Alex
P.S. Send me feedback on how we can improve. I respond to every email.
Stories of Excellence
Person: Carl Ichan
Carl Icahn is a billionaire investor and corporate raider known for his aggressive tactics. Born in 1936 in Queens, New York, he built his fortune through activist investing and hostile takeovers. Icahn's approach often involves buying large stakes in undervalued companies and pushing for changes to increase shareholder value. His high-profile battles with corporate boards have earned him a reputation as a ruthless operator. "My investment philosophy, generally, with exceptions, is to buy something when no one wants it," Icahn once said. Despite controversies, his track record of generating returns is undeniable. At 87, Icahn remains active in the business world, continuing to shake up companies and challenge the status quo.
Key Lessons from Carl Icahn:
On action: "In life and business, there are two cardinal sins. The first is to act precipitously without thought, and the second is to not act at all."
On conviction: "If you believe in something, you've got to be in it to the ends of the earth."
On opportunity: "Some people get rich studying artificial intelligence. Me, I make money studying natural stupidity."
Company: Play Doh
Play-Doh, the beloved modeling compound, was accidentally invented in 1933 by Noah McVicker, a soap company employee at Kutol Products in Cincinnati. Originally created as a wallpaper cleaner, it was repurposed in the 1950s by Noah's nephew, Joseph McVicker, and his sister-in-law, Kay Zufall, a nursery school teacher. They noticed children playing with the non-toxic, malleable substance and saw its potential as a toy. In 1956, the McVickers formed Rainbow Crafts Company to manufacture Play-Doh, initially selling it in 1.5-pound cans for $1.50. The product gained popularity after being featured on Captain Kangaroo in 1957. Hasbro acquired Rainbow Crafts in 1991 for $95 million, and by 2022, Play-Doh's annual revenue reached approximately $500 million.
Key Lessons from Play-Doh:
On longevity: Focus on timeless appeal. Play-Doh has remained relevant for over 60 years because it taps into children's innate creativity. Products that connect with fundamental human desires can stand the test of time.
On scent: Don't ignore the olfactory. Play-Doh's distinctive smell is so iconic it was trademarked in 2018. Consider how your product appeals to all senses, not just sight and touch.
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Accelerants
High-performance tool
⎯
Two Pizza Rule
The "Two Pizza Rule" is a guideline for team size popularized by Amazon founder Jeff Bezos. It states that teams should be small enough to be fed by two pizzas. In practice, this usually means teams of 5-7 people, or no more than 10.
The rationale behind this rule includes:
Improved communication: Smaller teams can communicate more effectively
Increased accountability: In small teams, individual contributions are more visible
Faster decision-making: Fewer people means less bureaucracy and faster consensus
This rule is part of Amazon's approach to maintaining agility and innovation even as the company has grown to enormous size. It's designed to prevent the inefficiencies that often come with larger teams and to keep decision-making processes lean and fast.
Insights
Harry Truman on the path to success:
"I studied the lives of great men and famous women, and I found that the men and women who got to the top were those who did the jobs they had in hand, with everything they had of energy and enthusiasm and hard work."—Harry S. Truman, 33rd President of the United States who led the country through the final stages of World War II and the Korean War
Tactical reads
⎯
> When developing better self-control habits
Enacting Rituals to Improve Self-Control (Read it here)
> When delving into neuroscience of decision-making
Neuronal Reward and Decision Signals: From Theories to Data (Read it here)
1 question
Who’s playing chess when everyone else is playing checkers?
That’s all for today, folks. As always, please give me your feedback. Which section is your favourite? What do you want to see more or less of? Other suggestions? Please let me know.
Have a wonderful rest of week, all.
Recommendation Zone
⎯
The $2T Market Missing From Your Portfolio
As markets hit record highs and Goldman Sachs projects just 3% annual stock returns over the next decade, sophisticated investors are diversifying beyond traditional assets. Enter private credit - a $2 trillion market that's grown 19x since 2006.
Through Percent's platform, accredited investors can access institutional-quality deals starting at $500. Their marketplace has facilitated over $1B in transactions, with average net returns to investors of 14.9% in 2024.
Join the ranks of institutional investors already leveraging private credit for portfolio enhancement. Plus, new investors receive up to $500 on their first investment.
Discover institutional-grade investments today
Alex Brogan
Find me on X, LinkedIn, YouTube, Instagram, TikTok
Offshore Talent: Where to find the best offshore talent. Powered by Athyna.
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