Great Business Stories

Now I’m not a big petrol head, but as some of you might know, I love Formula 1, and I think it's fair to say that Formula 1 wouldn’t be where it is today without Ferrari—so I was really keen to dig into this.
And what a story.
Enzo Ferrari wasn’t your typical business guy. Most people think of Ferrari as a company that builds expensive road cars and also happens to race. But for Enzo Ferrari, the road car business was really secondary—those beautiful, expensive cars were made for one reason only—it was to fund his obsession with racing.
And it was an obsession.
He valued his engines more than his drivers. He had little time for his family, but still made time for numerous affairs.
He could be a charming, funny and brilliant salesman, but he could also be cold, ruthless and very difficult.
And he makes for a cracking story.

The whole WorldCom scandal never really registered with me- because it happened straight after the dotcom bubble burst, so myself and my cofounders were just dusting ourselves off and slowly realising that we weren’t going to suddenly become business tycoons and on top of that whole Enron scandal had exploded just  a bit before so that was the story that consumed me back then - so when WorldCom went bust, I didn’t really give it a lot of time, but I knew in the back of my mind that there was great story here- Bernie Ebbers, this 6 foot 4, honest to goodness church-going  cowboy who kind of came from nowhere to all of a sudden building one of the biggest telecom companies in the USA, until suddenly it all collapsed becoming the biggest bankruptcy in US history, far surpassing Enron and and I’m glad that I finally got round to digging into thai story because it really is a cracking one- enjoy

This is the remarkable story of how David and Frederick Barclay went from painters and decorators to owning the most prestigious hotels in London: the Ritz, Claridge's, the Connaught, the Berkeley.
They bought the Telegraph Newspaper Group, they bought an island and built a £100 million castle on it, their fortune was estimated to be £7 billion pounds as late as 2020. But these guys, man, they were secretive, underhand — these guys pulled some very sneaky shit. And then it all came crashing down when the twins turned on each other, culminating in the Ritz Hotel bugging scandal. This is a sensational and cracking story — enjoy.

This is, without doubt, one of my favourite stories ever. And look, I'll be doing a good few episodes on Gates and Microsoft, but why I decided to start off with this one is because it's a fantastic standalone story. You have Bill Gates and Microsoft, in the mid-90s at the height of their power, and then along comes Marc Andreessen and Netscape, who develop a browser that really launches the World Wide Web. And this is an existential threat to Microsoft. They try to bully Netscape into a deal, but Netscape fight back, and this sets in motion an antitrust case that brings out Gates' arrogance, petulance and fear, and it leads to a judgement where Microsoft is ordered to split in two. This is a cracking story, enjoy.

I wanted to dig into this story purely because what I knew of Peloton really was just from the headlines. During the pandemic, stock pickers and the business media crowned Peloton the business of the future. It was called the Apple of fitness. You had the Obamas, Usain Bolt, Leonardo DiCaprio, dozens of high-profile celebrities as customers, and some of Peloton's live classes had bigger audiences than Madison Square Garden. And then, just as quickly, the same press that had lauded him turned on him. Foley and Peloton became the poster child for pandemic-era hubris. A company that reached a $49 billion valuation is now just worth $2.6 billion. Was it all Foley's fault? That's what we'll find out in today's episode. It's a cracking story, enjoy.