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A weekly collection of thought-provoking articles on tech, innovation, and long-term investing from Nightview Capital’s Eric Markowitz.
This essay is an installment of The Long Game, a Big Think Business column focused on the philosophy and practice of long-term thinking by Eric Markowitz, a partner at Nightview Capital. Subscribe to his weekly newsletter, The Nightcrawler, in the form above. Follow him on X: @EricMarkowitz.
In the 1968 Olympic marathon in Mexico City, Tanzanian runner John Stephen Akhwari crossed the finish line hours after the race was over. The medals had been handed out, most of the crowd had gone home, and the stadium was nearly empty. Yet there Akhwari was, hobbling on a bloodied, bandaged leg, determined to finish. When asked why he didn’t quit, his response was simple and profound: “My country did not send me 5,000 miles to start the race. They sent me 5,000 miles to finish it.”
That story stuck with me — not just because of Akhwari’s grit, but because it seemed like the perfect metaphor for resilience: not quitting, even when every logical instinct tells you to. It also made me feel slightly guilty about skipping my morning run because I “needed more coffee.” (In my defense, the coffee did seem urgent.) As I thought more about Akhwari’s experience, it became clear that the lessons marathoners embrace extend far beyond the track. They’re a blueprint for enduring challenges in business and investing, where setbacks and grueling stretches are par for the course.
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Marathoners have a name for that inevitable moment when things get unbearable: the pain cave. It’s when your body screams to stop, your legs feel like lead, and every step feels impossible. The pain cave is where resilience is forged — not just for runners, but for anyone staring down adversity. In the investing world, it’s the market crash that wipes out portfolios and has every instinct in your body screaming to sell. But seasoned investors, like marathoners, know the secret: resilience pays off. It’s not about the immediate discomfort; it’s about staying the course when everyone else is panicking.
Of course, resilience doesn’t just appear out of nowhere. Marathoners don’t wake up one day and decide to run 26.2 miles. They follow disciplined training plans: long runs, cross-training, and, crucially, rest days. The same deliberate pacing applies to successful businesses and investors. Overextending — whether by launching too many products or chasing every trend — is a recipe for collapse. It’s the difference between the measured progress of a seasoned marathoner and the rookie who sprints the first mile, only to burn out by mile five.
This brings to mind the wisdom of Matt Fitzgerald, author of 80/20 Running: “The vast majority of runners, however, seldom train at a truly comfortable intensity. Instead, they push themselves a little day after day, often without realizing it. If the typical elite runner does four easy runs for every hard run, the average recreationally competitive runner — and odds are, you’re one of them — does just one easy run for every hard run. Simply put: Running too hard too often is the single most common and detrimental mistake in the sport.”
That insight isn’t just about running — it’s a life lesson. Elite runners understand that slowing down isn’t laziness; it’s strategy. Easy runs give the body time to recover and adapt. The same is true in business and investing. Hustling at full throttle every day might sound impressive, but it often leads to burnout or bad decisions. Leaders who pace themselves — balancing focus, effort, and rest — achieve more over the long haul.
Leaders who pace themselves — balancing focus, effort, and rest — achieve more over the long haul.
This approach isn’t just practical; it’s essential. Rest isn’t the opposite of progress — it’s the foundation of it. Marathoners treat rest days as critical parts of their training, allowing their bodies to recover and grow stronger. Business leaders and investors could learn a thing or two from this. Jeff Bezos takes long walks to think. Bill Gates schedules entire “think weeks.” Warren Buffett devotes hours to reading and reflection. None of this is wasted time; it’s the stuff resilience is built on.
The importance of community becomes even clearer when we look at stories where unlikely support systems — or sheer determination — defy expectations. Resilience isn’t just about personal grit; sometimes, it’s about surprising others and yourself by simply showing up and persevering, even when the odds seem stacked against you.
Take the story of Cliff Young, a 61-year-old Australian farmer who, in 1983, stood at the starting line of the Westfield Sydney to Melbourne Ultra Marathon — a grueling 544-mile race. Cliff didn’t exactly fit the image of an elite runner. Dressed in overalls and work boots, he looked more ready for a day on the farm than one of the world’s toughest races. Spectators assumed he was lost — or perhaps just there to cheer on the real competitors. But Cliff had something more in mind.
Unlike the seasoned ultramarathoners, who had years of training, sponsorships, and finely tuned strategies, Cliff employed a shuffling gait, later dubbed the “Young Shuffle.” It was unorthodox, awkward, and laughable to most. To make matters worse, Cliff didn’t realize that competitors ran for 18 hours and slept for six. He just kept shuffling, day and night, stopping only for food and water. For five days straight.
The importance of community becomes even clearer when we look at stories where unlikely support systems — or sheer determination — defy expectations.
Cliff not only finished the race — he won it. And not by a narrow margin. He beat the second-place runner by more than 10 hours. When reporters asked how he managed to pull off such an improbable victory, Cliff revealed that, as a sheep farmer, he had spent decades running across fields for days on end to round up livestock, often without rest. The endurance, born of necessity and grit, had prepared him for a challenge no one thought he could conquer.
Cliff didn’t pocket the $10,000 prize, either. Instead, he divided it among the other runners, saying they deserved it more than he did. His victory became legendary, not just for the win itself but for the way he redefined the limits of human resilience. Today, ultramarathoners often adopt versions of the “Young Shuffle,” realizing its efficiency for long distances.
By now, the parallels between running and resilience should be clear. Both demand consistency, patience, and a willingness to lean into discomfort. It’s not glamorous: it’s grinding through the pain cave and trusting the process. It’s believing the effort will pay off, even when progress feels slow. And sometimes, resilience has a sense of humor.
Take the story of Shizo Kanakuri, the so-called “Father of Marathon Running” in Japan. In the 1912 Olympics in Stockholm, Kanakuri fainted halfway through the race due to heat exhaustion and quietly returned home without notifying race officials. For 50 years, his disappearance remained a mystery. When Swedish authorities finally tracked him down decades later, they invited him back to finish what he’d started. Kanakuri returned to Stockholm and completed the race with a recorded time of 54 years, 8 months, 6 days, 5 hours, and 32 minutes. His reflection on the experience? “It was a long trip. Along the way, I got married, had six children, and worked as a teacher.”
Kanakuri’s story is more than an odd piece of trivia — it’s a reminder that resilience isn’t just about pain and perseverance. It’s about embracing the journey, finding humor in the setbacks, and appreciating the detours. Whether you’re running a marathon or building a business, the goal isn’t just to survive. It’s to thrive, stumble, laugh, and surprise yourself along the way. Because in the end, the finish line isn’t just where the race ends — it’s where the real story begins.
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A weekly collection of thought-provoking articles on tech, innovation, and long-term investing from Nightview Capital’s Eric Markowitz.