{"podcast":{"title":"First Principles","slug":"first-principles-7708985","podcast_index_feed_id":7708985,"rss_url":"https://feeds.megaphone.fm/PODAGEN4765221373","website_url":null,"image_url":"https://megaphone.imgix.net/podcasts/06eebd2a-0779-11f1-826e-37926ac18342/image/fca7c8febd1441fc3b0d54084418b06d.png?ixlib=rails-4.3.1&max-w=3000&max-h=3000&fit=crop&auto=format,compress","author":"Adrian Wells","episode_count":426,"summary":"First Principles isn't another business podcast recycling the same startup stories. Adrian Wells takes the fundamentals that actually matter and breaks them down like you're having coffee with the smartest professor you ever had. Wells spent twelve years teaching philosophy and critical thinking before ditching the lecture hall for the microphone. Turns out, the same principles that help you think clearly about ancient Greek ethics also work pretty well for modern business decisions. Who knew? Every episode strips away the latest trends and buzzwords to focus on the core ideas that don't change. How to actually evaluate evidence when everyone's throwing around statistics. Why most \"revolutionary\" business advice is just old wine in new bottles. The thinking patterns that separate smart decisions from lucky guesses. You won't get hyped-up success stories or flavor-of-the-month strategies. Instead, you'll learn how to think through problems the way philosophers have for centuries, applied to the stuff that matters in your work and life right now. Multiple new episodes drop daily, so there's always something fresh when you need it. Follow now if you're ready to think better, not just…","last_synced_at":"2026-09-20T02:18:54.580675+00:00","page_url":"https://stenobird.com/podcast/first-principles-7708985"},"episode":{"title":"The $47 Million Mistake That Almost Killed Pret (And How Julian Fixed It)","slug":"the-47-million-mistake-that-almost-killed-pret-and-how-julian-fixed-it","published_at":"2026-09-10T05:51:00+00:00","page_url":"https://stenobird.com/podcast/first-principles-7708985/the-47-million-mistake-that-almost-killed-pret-and-how-julian-fixed-it","show_page_url":"https://stenobird.com/podcast/first-principles-7708985","url":"https://traffic.megaphone.fm/PODAGEN3884646787.mp3?updated=1776258101","audio_url":"https://traffic.megaphone.fm/PODAGEN3884646787.mp3?updated=1776258101","summary":"Julian Metcalfe made a $47 million mistake that nearly destroyed Pret A Manger. Then he did something most founders would never dare: he started a second billion-dollar brand while fixing the first. In this episode, Adrian Wells breaks down how Metcalfe built two food empires simultaneously by obsessing over details everyone else ignored. Most entrepreneurs can barely handle one company. Julian ran Pret and launched Itsu just 11 years later, both hitting billion-dollar valuations. His secret wasn't working harder or moving faster. It was thinking differently about quality, partnerships, and what customers actually want. 🎯 What You'll Learn: • Why Pret's $47 million loss led to their most profitable years • The daily freshness obsession that separates winners from wannabes • How to find partners who amplify your vision instead of diluting it • The counterintuitive reason Julian kept Itsu but sold Pret for £100 million 👤 Perfect for: lifelong learners and anyone passionate about personal growth who wants to understand how great brands actually get built, not just hyped. 📍 Chapters: [00:00] Adrian Wells introduces the $47 million mistake [02:15] How Pret nearly collapsed and what Julian learned [05:30] The Itsu launch strategy that defied conventional wisdom [08:00] Why daily freshness became a billion-dollar differentiator [10:30] Partnership principles that built two empires [13:00] Key takeaways you can apply to any business The thinking patterns that separate billion-dollar builders from everyone else aren't what you'd expect. Julian's approach to quality, timing, and strategic partnerships reveals principles that work whether you're launching a food chain or any other venture. 🔔 Never miss an episode: Follow First Principles on Apple Podcasts or Spotify and turn on n…","meta_description":"Julian Metcalfe made a $47 million mistake that nearly destroyed Pret A Manger. Then he did something most founders would never dare: he started a second…","key_points":[],"chapters":[],"topics":[],"duration_seconds":1614,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/first-principles-7708985/episodes/the-47-million-mistake-that-almost-killed-pret-and-how-julian-fixed-it/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/first-principles-7708985/the-47-million-mistake-that-almost-killed-pret-and-how-julian-fixed-it.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}