The Business Canon

Episode 1 - The Foundational Text: Adam Smith's Invisible Hand

In our inaugural episode using our new curriculum approach, we begin with the foundational text of modern capitalism: Adam Smith’s The Wealth of Nations. This is part one of a multi-part series on this monumental work. Our hosts unpack the revolutionary concept that has shaped our world for over two centuries: the invisible hand. We explore Smith's argument that individual self-interest, when operating in a free market, can lead to widespread societal benefit. The conversation delves into the historical context of this idea, challenging the prevailing mercantilist theories of his time. We analyze how this single concept laid the philosophical groundwork for the industrial revolution and modern global commerce. This episode is an essential first step in understanding the intellectual DNA of business itself. Join us as we explore the power and the paradox of this enduring idea.

Episode 2 - The Modern Method: The Lean Startup's Core Loop

From the 18th century to the 21st, we now explore the modern method for building a business under conditions of extreme uncertainty. This brief focuses on the single most important concept from Eric Ries's The Lean Startup. Our hosts quickly unpack the "Build-Measure-Learn" feedback loop, the engine of progress for any new venture. You will learn why the goal of a startup is not to make stuff, but to learn what to build. We explain how this simple, iterative process helps entrepreneurs test their vision and avoid the biggest risk of all: building something nobody wants. This concise overview is a powerful mental model for anyone involved in innovation, from startup founders to corporate product managers. In just a few minutes, you’ll have the core idea that powers Silicon Valley.

Episode 3 - The Invisible Hand vs. The Lean Loop

Are Adam Smith's classical economic theories sufficient for the fast-paced world of modern startups? In this Critique episode, we analyze the core tenets of The Wealth of Nations through the critical lens of The Lean Startup. Our hosts explore whether the slow, emergent, "invisible hand" of the market is compatible with the rapid, deliberate, "Build-Measure-Learn" feedback loop of today's innovators. We offer constructive feedback on where Smith's ideas fall short in explaining the dynamics of digital markets and network effects. The conversation questions whether a purely hands-off approach can succeed in an era that demands constant customer feedback and intentional design. This episode is a fascinating reassessment of a foundational economic idea in the light of modern business practice.

The Business Canon Trailer

Welcome to the Deep Dive. In this episode we pull out surprising insights: how foreign investment can create short-term trade deficits, the radical retail invention of Clarence Saunders and Piggly Wiggly, and an extreme leadership story about solving an “impossible” budget problem.We explore why intuition can mislead and how questioning assumptions across economics, business history, and leadership reveals deeper truths that reshape how you evaluate success and make decisions.

Episode 4 - The Nature of Success: Discipline or Luck?

What is the primary driver of extraordinary business success: deliberate, disciplined action, or the unpredictable influence of luck? This episode stages a foundational Debate between the core ideas of two modern classics. One host champions the thesis of Jim Collins's Good to Great, arguing that disciplined people, thought, and action are the key ingredients that separate great companies from the merely good. The other host counters with the worldview of Nassim Nicholas Taleb's The Black Swan, contending that history is driven by rare, high-impact, and unpredictable events, making much of our perceived success a matter of being on the right side of randomness. The debate illuminates the core tension between strategy and serendipity, and what it truly takes to win.

Episode 5 - Level 5 Leadership: The Defining Trait of Greatness

We begin our multi-part exploration of Jim Collins's Good to Great with a deep dive into its most famous and surprising concept: Level 5 Leadership. Our hosts unpack what separates the merely effective leaders from the truly great ones. The conversation explores the paradoxical blend of intense professional will and deep personal humility that Collins found in every single "good-to-great" leader. We analyze the stories of these often-unassuming figures, contrasting them with the high-profile, celebrity CEOs who rarely achieve sustained greatness. This episode is a powerful and often counter-intuitive look at the character traits that are the essential foundation for building an enduring, great company.

Episode 6 - The Hedgehog Concept: Finding Your Three Circles

How can your company find the one thing it is destined to be great at? In this focused Brief, we distill the simple but profound framework of the Hedgehog Concept from Jim Collins's Good to Great. Our hosts quickly explain the three intersecting circles that a great company must understand: what you are deeply passionate about, what you can be the best in the world at, and what drives your economic engine. You will learn why a deep, almost simplistic understanding of these three circles is the key to creating a winning strategy. In just a few minutes, you’ll have a powerful tool for finding clarity and focus for your own business or career.

Episode 7 - The "Good to Great" Companies: A Legacy Review

The companies profiled in Good to Great were paragons of success, but how did they fare after the book was published? In this legacy Critique, we re-examine the book's famous case studies. Our hosts analyze the subsequent performance of companies like Circuit City, Fannie Mae, and Wells Fargo, many of which later stumbled or failed spectacularly. We offer a constructive critique of the book's methodology, questioning whether the patterns Collins identified were truly the cause of their success or merely a correlation. The conversation explores the "curse of the cover" and the immense challenge of sustaining greatness in a constantly changing world. This is a sober second look at one of the most influential business books ever written.

Episode 8 - Is Charisma Overrated? The Great Leadership Debate

What is the most effective style of leadership? This episode stages a Debate on the nature of executive presence. One host argues for the quiet, humble "Level 5" leader described in Good to Great, contending that ego and charisma are often liabilities that get in the way of building a great team. They champion the power of understated, servant leadership. The other host, drawing on the stories of figures like Steve Jobs, argues that a powerful, charismatic, and visionary leader is essential for driving breakthrough innovation. They believe that a "reality distortion field" is often necessary to inspire a team to achieve the impossible.

Episode 9 - The 7 Habits (Part 1): The Foundation of Effectiveness

We begin our multi-part series on Stephen R. Covey’s monumental work, The 7 Habits of Highly Effective People. In this first installment, our hosts introduce the foundational principles of the book. The conversation explores Covey’s "character ethic" versus the "personality ethic" and his powerful model of the "Maturity Continuum." We unpack the fundamental paradigm shifts required to move from dependence to independence and ultimately to interdependence. This episode is not about simple productivity hacks; it is a guide to the deep, principle-centered approach that is required to build a life of true effectiveness. Join us as we lay the groundwork for understanding this timeless classic.