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Some Things I Think

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Summary

This article provides a collection of observations and insights from Morgan Housel on topics such as wealth, success, relationships, and happiness. It discusses how luck, social media, and storytelling can be used to persuade people, the importance of humility and not needing to impress anyone, and the difference between an expert and a guru. It also touches on the importance of making decisions such as whom to marry, being aware of self-inflicted harms, and the dangers of bubbles and overstaying one’s welcome. Finally, it emphasizes the importance of understanding the past and being aware of the potential for future change.

Q&As

What is the fastest way to become wealthy?
The fastest way to become wealthy is to go slow.

What is the best measure of wealth?
The best measure of wealth is what you have minus what you want.

What are two types of successful people?
Two types of successful people are those with imposter syndrome and sociopaths.

What do Matt Damon and Will Smith say about becoming wealthy?
Matt Damon says that becoming famous will "retard socially and emotionally" and Will Smith says "reality will pay you back in equal proportion to your delusion."

What is the rule of thirds?
The rule of thirds is that one-third of days you should feel amazing, one-third of days should feel OK, and one-third of days should be crappy.

AI Comments

👍 This article offers a unique and insightful look at a variety of topics, from personal finance to relationships and success. It provides a thought-provoking perspective and encourages readers to think beyond traditional conventions.

👎 Although this article contains interesting ideas and insights, it lacks any real depth or analysis. It's a collection of disconnected thoughts without any real argument or evidence to back them up.

AI Discussion

Me: It's called "Some Things I Think" by Morgan Housel. It's a collection of observations about money, success, relationships, and more.

Friend: Interesting. What are some of the implications of the article?

Me: One implication is that money is not the only measure of success. The article mentions that “the best measure of wealth is what you have minus what you want” and that “happiness is the gap between expectations and reality.” This implies that having less may actually make you happier, as long as your expectations are realistic.

Friend: That's a great point. What else?

Me: Another implication is that relationships are more important than wealth. The article mentions that “the most important decision most people will ever make is whether, when, and whom to marry” and that “nothing destroys relationships—in love and careers—like being needy.” This implies that having strong relationships is key to success, and that having wealth without relationships may not lead to true happiness.

Action items

Reflect on the article and identify one or two key takeaways that you can apply to your own life.
Research and read more articles by Morgan Housel to gain a deeper understanding of his views and perspectives.
Make a list of the people in your life who you don't want to disappoint and think of ways to make sure you don't.

Technical terms

Social and tribal benefit: The advantages that come from belonging to a particular group or society.
Imposter Syndrome: A psychological pattern in which an individual doubts their accomplishments and has a persistent fear of being exposed as a "fraud".
Guru: A spiritual teacher or leader.
Recessions: A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
Excel: A spreadsheet program developed by Microsoft.
Vaccines: A biological preparation that provides active acquired immunity to a particular disease.