#334 Oprah

In this episode, the host delves into the remarkable journey of Oprah Winfrey, from her early days as a local TV talk show personality in Chicago to becoming a billionaire media mogul. Initially content with a $230,000 annual salary, Oprah's skepticism about her agent's intentions led her to hire lawyer Jeffrey Jacobs, a decision that transformed her from an employee to a capitalist. She gained ownership over her show, the studio, and a significant stake in King World Productions, which distributed her show. This strategic move, coupled with her role in "The Color Purple," catapulted her fame and financial success. The episode also touches on Oprah's intuitive business decisions, her authenticity, and her ability to connect with audiences, which were pivotal in her show's success and her personal wealth, estimated at a $400 million cash flow from a five-year syndication deal. The host and guest reflect on Oprah's belief in the power of thoughts and visualization, her resilience despite a traumatic childhood, and her unwavering self-belief that led to her extraordinary accomplishments.

• Oprah Winfrey announces the first in-person founders only conference in Austin, Texas.
• The event is scheduled to occur in less than 60 days from the time of the announcement.
• Oprah promises to provide more details at the end of the episode.

"Make sure you stick around to the end. There's two very important updates, including the very first in person founders only conference that's taking place in Austin, Texas, less than 60 days from now."

The quote is Oprah Winfrey's way of ensuring the audience stays engaged with the podcast until the end, where she will reveal more information about the upcoming founders' conference.

• In 1984, Oprah was the most popular TV talk show personality in Chicago.
• Oprah's salary was $230,000 a year with a contract that included annual increases of $30,000.
• After becoming suspicious of her agent's intentions, Oprah fired him and hired Jeffrey Jacobs, a Chicago lawyer.
• Jacobs helped Oprah transition from employee to capitalist, leading to her inclusion in the Forbes 400.
• Oprah's wealth is attributed to owning her show, the production studio, and a stake in King World Productions.
• Oprah and Jacobs worked to retrieve her syndication rights and brought in King World Productions as the distributor.
• Oprah's role in "The Color Purple" elevated her to Hollywood celebrity status, boosting her talk show's ratings and revenue.
• The Oprah Winfrey Show's success is partly due to its ability to retain audiences for evening news programs, benefiting local stations.

"It is ownership that has made her rich. Oprah owns not only her show, but also the studio in which it is produced, and she owns a big stake in King World Productions, the company that distributes her show."

This quote highlights the critical decision Oprah made to own her content and distribution, which played a significant role in her financial success and influence.

• Local stations paid high prices to air the Oprah show because it attracted viewers who would stay for the news.
• In markets like Houston or Atlanta, a single rating point could translate to a million dollars in revenue for the news station.
• Oprah's show was sold to 210 stations with a deal including annual increases and additional advertising time for Oprah and King World.
• A conservative estimate of the five-year cash flow from the deal was $400 million.
• Oprah's philosophy on success emphasizes creating without limitations and adapting to outcomes.

"A conservative estimate of this five year cash flow from that deal is $400 million."

This quote underscores the lucrative nature of the syndication deal Oprah secured for her talk show, emphasizing the financial acumen that contributed to her wealth.

• Oprah considers her early public speaking experiences as building blocks to her success.
• She was at ease in front of the camera due to her extensive experience in public speaking since childhood.
• Initially, Oprah imitated Barbara Walters but eventually found her authentic style.
• Stephen King's maxim, "Imitation precedes creation," is cited as a common theme among successful individuals.

"Imitation precedes creation."

This quote from Stephen King, referenced by Oprah, captures the idea that before one can create their unique path, they often start by imitating others, as Oprah did with Barbara Walters.

• Oprah felt reporting was too scripted and that her authenticity was a valuable asset.
• She learned the importance of listening rather than focusing on impressing others.
• Oprah's mispronunciation of "Canada" on-air led to a realization of the power of authenticity.
• Her intuition and dissatisfaction with news reporting led to a transition to a talk show, which felt like the right fit.

"This is the first real moment I ever had on tv."

Oprah's reflection on her on-air laughter after mispronouncing "Canada" underscores her discovery of the importance of authenticity in her television career.

• Oprah's belief in herself and the power of visualization played a significant role in her achievements.
• She visualized being part of "The Color Purple" intensely before being discovered by Quincy Jones.
• Oprah's strong self-belief is evident from childhood, despite personal challenges and traumas.
• The power of positive thinking and visualization is a recurring theme in the biographies of successful individuals.

"I truly believe that thoughts are the greatest vehicle to change power and success in the world."

Oprah's quote encapsulates her conviction that thoughts and visualization can significantly impact one's ability to achieve success and effect change.

• Oprah identified with "The Color Purple" due to her personal history of being molested and abused.
• Her intense work ethic may stem from her desire to gain control and prevent further harm.
• Oprah's ability to channel her personal experiences into her work contributed to her profound performance in the film.
• The trauma of her past influenced her drive and decision-making, leading her to become a super achiever.

"All my life, I had to fight. I had to fight my cousins, I had to fight my uncles, but I never thought I had to fight in my own house."

This powerful quote from Oprah reflects the personal struggles she overcame and how they deeply connected her to the character she played in "The Color Purple."

• Oprah Winfrey was raised on a farm by her grandmother during her early years.
• Her mother was very young when she had Oprah and was not present, living in a different city.
• Despite her challenging beginnings, Oprah possessed a strong sense of confidence and self-belief about a better future.
• She had no indoor plumbing and vividly remembers boiling clothes for washing, which was a common practice at the time.

"I was raised on a farm with my grandmother. For the first six years of my life, I knew somehow that my life would be different and it would be better."

This quote reflects Oprah's early recognition of her difficult circumstances and her determination to rise above them.

• Oprah aspired to be an actress or a school teacher in her younger years.
• She was inspired by her fourth-grade teacher, Mrs. Duncan, who made her believe in her capabilities.
• Oprah was an avid reader, had an extensive vocabulary, and was a skilled public speaker from a young age.
• Her experiences in church, where she would repeat sermons, led to her nickname "Preacher."

"Mrs. Duncan was my greatest inspiration. She helped me believe in myself for the first time."

This quote illustrates the profound impact that a positive role model had on Oprah's self-esteem and aspirations.

• Oprah's birth name was intended to be Orpah, a name from the Bible, but was misspelled due to unfamiliarity with the spelling.
• Her grandmother's influence was significant, teaching her to read before the age of four.
• Oprah's talent for public speaking was recognized early on in church, where she would deliver recitations.

"I was taught to read at an early age, and by the time I was three and a half, I was reciting speeches at our local church."

This quote emphasizes the importance of Oprah's early education and the recognition of her public speaking talent, which would later become a cornerstone of her career.

• Oprah experienced a troubled childhood, including being raped by a family member at nine and suffering repeated sexual abuse.
• She kept the abuse a secret until her late twenties, which is a common response among survivors.
• Oprah's personal experiences of trauma and her eventual openness about them became a powerful part of her public narrative.

"When I was nine, I was raped by a cousin and I never told anybody."

This quote reveals the deeply personal and painful experiences Oprah endured, highlighting the issue of sexual abuse and the silence that often surrounds it.

• Oprah was recognized for her speaking ability and was hired at a radio station at the age of 17.
• She auditioned for TV at 19 and felt comfortable with public speaking due to her extensive experience.
• Oprah credits her broadcasting career to her long-standing skill as an orator.

"I've been an orator basically all of my life."

This quote signifies the role of Oprah's oratory skills as the foundation of her broadcasting career, which began at a very young age.

• Oprah's father provided her with the structure and discipline she lacked while living with her mother.
• He set high expectations for her academic performance and did not accept mediocrity.
• This strict upbringing led to a significant turnaround in Oprah's behavior and achievements.

"You cannot bring c's on your report card in this house because you're not a c student. You're an a student."

This quote demonstrates the high standards set by Oprah's father, which played a crucial role in her personal development and success.

• Oprah's career progressed from radio to television and eventually to movies, often through serendipitous opportunities.
• She believes in making oneself a "big target for luck" by being curious and trying new things.
• Oprah's professor encouraged her to seize the opportunity with CBS, which she initially turned down.

"Fool. That is what school is for. You go to college. So CBS calls you."

This quote from Oprah's professor underscores the idea that education and opportunities like the one from CBS are intrinsically linked and should be embraced.

• Oprah describes a rigorous schedule during her college years, balancing classes and work at a TV station.
• She has a "divine discontent" with her performance, always striving for improvement.
• Oprah views herself as still in the process of becoming successful and demands the best from herself.

"It's very difficult for me to even see myself as successful because I still see myself as in the process of becoming successful."

This quote reflects Oprah's continuous pursuit of excellence and her humble self-assessment despite her achievements.

• Oprah prioritizes her heart's guidance over rational or financially motivated decisions.
• She has learned the importance of living authentically and pleasing oneself rather than others.
• Her openness about personal struggles has allowed her to connect with and influence others.

"I now always go with my heart, even when my head is saying, oh, but this is the rational thing."

This quote captures Oprah's philosophy of following one's heart as a guiding principle in life decisions.

• Oprah Winfrey does not see herself as a typical celebrity due to her authenticity and familiarity with the audience.
• Unlike A-list actors, Oprah's open personality has led people to treat her like a friend rather than a distant celebrity.
• Oprah's approachability and transparency have fostered a unique relationship with her audience, which critics may not fully understand.
• Oprah embraces constructive criticism to improve herself, as long as it is well-thought-out and not a mere attack.

"She's something like 44,000,040 to 50 million people watching." "It's just really boggles the mind." "As opposed to a list actors. You may see them on screen, but you have no idea who they are." "Critics don't actually understand the relationship I have."

These quotes highlight Oprah's massive viewership and her distinct connection with the audience, which sets her apart from other celebrities. The comparison with A-list actors emphasizes her unique position in the public eye.

• Oprah values criticism when it resonates with her and is thoughtfully presented.
• Constructive criticism has been instrumental in her personal and professional development.
• Oprah quotes Benjamin Franklin, aligning with the idea that critics can be friends who point out faults for one's betterment.

"Critics are our friends. They show us our faults." "Critics have helped me to get better."

Oprah acknowledges the positive impact of critics in her life, supporting the notion that well-intentioned criticism can lead to self-improvement.

• Oprah repeatedly emphasizes that luck is the intersection of preparation and opportunity.
• This philosophy aligns with her belief in the power of asking for help, which she considers an underutilized superpower.
• Oprah's early career was marked by her willingness to take on challenges and learn on the job.

"I feel that luck is preparation meeting opportunity." "Asking for help is a superpower that no one uses."

Oprah's quotes encapsulate her belief that success is not merely about chance but about being prepared to seize opportunities and not hesitating to seek assistance when needed.

• Oprah discusses the significance of relationships in business, particularly the impact of having a supportive partner.
• She shares her experience with her lawyer and partner, who encouraged her to own her show, which led to her immense success.
• Oprah's story illustrates the value of having someone who can raise your aspirations and help you achieve your dreams.

"They spend so much time with Oprah, they get to know her because she doesn't try to hide who she is." "You should own your own show."

These quotes reflect the close bond Oprah has with her audience due to her authenticity and the pivotal advice from her lawyer that transformed her career trajectory.

• Oprah credits her financial success with allowing her to focus on making a difference in the lives of others.
• She recounts her past struggles with money and the strategies her family used to manage finances.
• Oprah highlights the transformative power of reading, which provided her with hope and a vision of a better life during her difficult childhood.

"Money allows you to focus." "The ability to read saved my life."

These quotes show Oprah's appreciation for financial security and literacy, both of which have played crucial roles in her journey and her mission to empower others.

• Oprah's approach to business is hands-on; she emphasizes the importance of understanding and overseeing financial aspects.
• She shares her rigorous work schedule and her passion for her work, which doesn't feel like work to her.
• Oprah's dedication to her business and her insistence on signing every check herself is compared to the practices of Henry Singleton, a respected business figure.

"I sign every check." "A twelve-hour day is a short day for me."

The emphasis on personal involvement in financial matters and the enjoyment of her work highlight Oprah's commitment to her business and her fulfillment in her career.

• Oprah discusses the challenges of adhering to her personal truth, especially when it conflicted with external expectations.
• She shares her experience of feeling out of place in reporting and the importance of listening to her inner voice.
• Oprah's decision to follow her intuition led her to a more suitable career path and ultimately to greater success.

"I started listening to what I felt was the truth for me." "Knowing what you don't want to do leads you to figure out what it is that you really want to do."

These quotes reveal Oprah's introspective process and the significance of self-awareness in finding one's true calling.

• Oprah credits her success to consistently listening to her intuition, which she considers more powerful than intellect.
• She shares her experiences of success and setbacks, attributing them to either following or ignoring her inner voice.
• Oprah's intuitive approach has guided her through key career decisions and life choices.

"I have from the very beginning, listened to my instinct." "Every decision that has profited me has come from listening to that inner voice first."

Oprah's trust in her intuition is presented as a cornerstone of her decision-making process, reinforcing the theme of inner guidance.

• Oprah discusses her competitive success against Phil Donahue, attributing it to her innate understanding of her female audience.
• She compares her advantage to that of Coco Chanel, who also had a deep understanding of her market.
• Oprah's insights into her audience's desires and her authentic connection with them were key to her success.

"You're walking into a landmine." "I knew that that was the right thing to do, even if it didn't succeed."

These quotes illustrate Oprah's confidence in her approach and her willingness to take risks based on her understanding of her audience, which was instrumental in her triumph over competitors.

• Oprah Winfrey emphasizes the importance of an intact inner life and the concept of living from within oneself.
• This theme is about authenticity and the resonance it has with others.

"But what really, really resonates deeply with me is that I live a fantastic life. My inner life is really intact. I live from the inside out."

The quote illustrates Oprah's belief in the significance of having a fulfilled and authentic inner life, which she considers the foundation of her outward success.

• Oprah observed a common desire for validation among the 30,000 people she interviewed on her show.
• This theme suggests that understanding this need can be powerful in various contexts, including sales and business.

"I talked to nearly 30,000 people on the show. And all 30,000 had one thing in common. They all wanted validation."

Oprah identifies a universal human craving for validation, which she noticed consistently during her interviews.

• Mary Kay Ash's training method for her salespeople was based on the principle that everyone wants to feel important.
• This theme connects to the understanding of customer and audience needs in business.

"And the way she'd train her salespeople is fascinating. It's very similar to what Oprah's telling us."

David Senra compares Mary Kay's training philosophy for her salespeople to Oprah's understanding of her audience's need for validation, highlighting the effectiveness of empathy in business strategy.

• Oprah's success with her show was attributed to her deep understanding of her audience, which she identified with personally.
• This theme explores the concept of serving one's audience by recognizing shared experiences and needs.

"The reason why the show worked is because I understood. I understood that audience."

Oprah credits her show's success to her empathetic understanding of her audience's desires and her ability to connect with them on a personal level.

• Oprah views her life experiences as her greatest teacher, emphasizing the importance of awareness and learning from one's journey.
• This theme touches on the transformative power of education and the right opportunities.

"I pay attention to my life. And your life is your greatest teacher."

Oprah shares her philosophy that by being attentive to one's life experiences, one can learn valuable lessons that guide personal growth and success.

• Oprah's strong sense of self-belief and her conviction that she was destined for more than her circumstances is highlighted.
• This theme is about the impact of self-belief and the determination to improve one's life.

"I said, miss new, I do not belong here because I know a lot of big words."

Oprah recounts an anecdote from her childhood, demonstrating her early self-belief and her determination to advance beyond her initial educational setting.

• Oprah discusses the concept of a circle of competence, focusing on one's strengths and staying within one's area of expertise.
• This theme is about understanding oneself and one's audience to achieve success.

"I stay in my lane. I know what my lane is."

Oprah advises on the importance of recognizing and sticking to one's strengths, which she practiced during her television show to maintain success.

• Oprah regards fame not as an end goal but as a means to have a voice and make a meaningful impact.
• This theme explores the idea that fame can be leveraged to engage with deeper questions and inspire others.

"In our culture, we value fame, but for me, fame was just a foundation to be heard."

Oprah expresses her perspective that fame should serve a purpose beyond itself, specifically as a platform to facilitate important conversations and inspire thoughtful reflection.

• Oprah's advice is to align one's personality with their purpose to achieve passion and untouchable success.
• This theme discusses the connection between personal fulfillment and professional achievement.

"Find what feeds your passion, align your personality with your purpose, and nobody can touch you."

Oprah shares her wisdom on finding fulfillment and success by ensuring that one's work is in harmony with their true self and passions.

• David Senra emphasizes the significance of relationships in business and life, reflecting on his own experiences and those of others.
• This theme covers the concept that building genuine connections can lead to significant, sometimes nonlinear, returns.

"Because a relationship between these two people, like people like this, they produce nonlinear returns."

David Senra conveys the idea that relationships, especially between like-minded individuals or those in similar fields, can result in extraordinary outcomes that surpass expectations.

• David Senra discusses the Founders Only Conference and Founders Notes, tools and events designed to connect and support founders.
• This theme focuses on the importance of community, networking, and continuous learning for entrepreneurs.

"So I've told you this before, but when I went to Charlie Munger's house."

David Senra shares his experiences with influential individuals and the insights he gained about the value of learning from others, which he applies to his initiatives for founders.

• David Senra talks about his collaboration with Readwise and the ongoing development of Founders Notes.
• This theme is about the commitment to enhancing a product or service and providing additional value to users over time.

"I am working closely with the team at Readwise. We're going to keep improving founders notes."

David Senra expresses his dedication to improving the Founders Notes platform, ensuring that subscribers receive continuous updates and new features, enhancing the value of their subscription.