We kick off Season 11 with the incredible story of the retail “granddaddy of them all” Walmart, and its founder Sam Walton. Once you study Walmart, you realize just how deep its heritage runs through Amazon and so many iconic modern companies we cover on Acquired. This episode was an absolute blast, and we even uncovered a new addendum to the hallowed “focus on what makes your beer taste better” playbook theme! If you want more Acquired, you can follow our newly public LP Show feed in the podcast player of your choice (including Spotify!): http://pod.link/acquiredlp Sponsors: Thank you to our presenting sponsor for all of Season 11, Fundrise! If you’re considering raising a growth round of capital in the next year, you should definitely explore raising some of it with the Fundrise Innovation Fund. Just email to notvc@fundrise.com, and tell them Ben & David sent you. And if you’re an individual looking for exposure to private growth-stage technology companies, you can invest in the Innovation Fund here: https://bit.ly/acquiredfundriseinnovation Thank you as well to Pilot and NZS Capital! https://bit.ly/acquiredpilot22 https://bit.ly/acquirednzscomplexity You can register for the NZS Talkback here: https://us02web.zoom.us/meeting/register/tZctce6przwsG926Qzk8fvyO896thNHtyvZo Links: Walmart’s 1972 Annual Report: https://s2.q4cdn.com/056532643/files/doc_financials/1970s/1972-annual-report-for-walmart-stores-inc.pdf Episode sources: https://docs.google.com/document/d/1DQdMwaXEZ9H0ptdzl_oKWER06O5A38qjr7eeglrJGhc/edit?usp=sharing Carve Outs: Ted Weschler on the Nebraska Furniture Mart podcast!!! https://iamhome.libsyn.com/lunch-with-warren-buffett-working-for-berkshire-hathaway-and-the-future-of-investments-with-ted-weschler Mario Puzo’s The Godfather (the book): https://www.amazon.com/Godfather-Mario-Puzo-dp-0451205766/dp/0451205766/ Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.