#466: Richard Koch on Mastering the 80/20 Principle, Achieving Unreasonable Success, and The Art of Gambling

Hello, boys and girls. Ladies and germs, whether you're here across the pond, in the pond, or otherwise, this is Tim Ferris, and welcome to another episode of the Tim Ferris show, what I just said will make sense in a moment. It is my job on every episode to deconstruct world class performers to tease out the favorite books, the habits, routines. forms of journaling, whatever it might be, that you can test and apply in your own lives. My guest today, I've wanted to have on for a very long time.

His name is Richard Kosh. K O C H Richard is an entrepreneur, investor, Former strategy consultant and author of several books on business and ideas, including four books on how to apply the eighty twenty principle in all walks of life. He also has a wonderful British accent, which is why I talked about across the pond. His investments. Because he's not just a theoretician, he's a practitioner, his investments have grown at twenty two percent compounded annually over thirty seven years. That's a long time. Try that with a small number and see what happens. Richard's investments have included Philofax, Plymouth Gin,

Belgo. Bet fair. which is the world's largest betting exchange. We talk about this one quite a bit. FanDuel and Auto One. He has worked for the Boston Consulting Group and was a partner at Bain and Co, that's Bain and Company, before leaving to start L E K with Jim Lawrence and Ian Evans. Which expanded from three to three hundred and fifty professionals during the six years Richard was there. In nineteen ninety seven, the eighty twenty principle, the book, reinterpreted the Pareto rule, extending the observation that most results come from a small minority of causes.

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