“Judge talent at its best and character at its worst.” - Lord Acton

This is the only thought I have a bone with. Character is something that’s built over time, especially as people get older then tend to mild out and see the bigger picture becoming more emphatic to other needs.

Rest however is wonderful advice, cheers.

I would ultimately disagree with it but I hear the sentiment. Persistent poor character is something worth avoiding. That doesn't mean it should be assumed that a person's poor character will persist.

> Many beliefs are held because there is a social and tribal benefit to holding them, not necessarily because they’re true.

They become true when enough people in society hold them. When people collectively believe in the value of money or in the rationality of markets, the claims that money have value or that markets distribute resources rationally become true.

Yep. There is no prior more frequently unexamined, I think, than the definition of the word "true".

Though the definition of the word "good" has gotta be a close second.

Hyperstition is a fun line to tread, but society tends to ostracize those who push back too hard against it.

Many cultural taboos only exist because it is societally convenient to accept them. Others (e.g., the value of money) have a societal mandate.

Haidt has a good bit illustrating the former -- everyone can tell you that a brother exercising extremely safe sex with his sister exactly once while on vacation in France is WRONG, but very few people can illustrate a practical reason WHY it is. People conjure up reasons why that aren't just borne of their innate revulsion to the idea.

As to the latter, the value of money is probably beyond hyperstition in that is was not born merely of belief, but of contract. If I agree that this paper bill is worth roughly one fifth of that chicken, which is worth perhaps one of these loaves of bread, then we have collectively agreed to the 'stition, and it is not merely borne of that belief, but of that compact. But others who inherit the contract without having formed the agreement, or who watch as the government prints those bills out of thin air, it can certainly feel less tethered to "what I have agreed to" and more "this is all just make believe!"

Summary:

Getting rich is a gradual process, not a sprint.

Beliefs often serve a social function rather than representing absolute truth.

Success driven by luck can create a false sense of talent.

Social media is more about performance than communication.

Comedy is a powerful tool for teaching about human behavior.

True wealth is what you have minus what you want.

The best financial asset is not needing to impress anyone.

Financial debates are often a clash of different time horizons.

Learning is about absorbing stories, not memorizing formulas.

People are easier to impress from a distance.

Progress, not success, makes you more likable.

People often create imaginary problems when their life lacks stress.

Self-deception is persuasive, while other people's BS is easy to identify.

Everything involves sales.

Every employee can be replaced.

Knowing when to quit is a key characteristic of admired figures.

Studying history is challenging due to our knowledge of the outcome.

Ignore praise if you ignore criticism.

Craving praise can be destructive.

People can be divided into those who seek knowledge and those who defend their current knowledge.

Dogs can be envied for their contentment in doing nothing.

The thrill of making money often surpasses the joy of having it.

Fame and wealth can stunt emotional and social growth.

Beliefs are often self-validating, influencing perception.

Humility is attractive, but vanity is common.

Luck is desired but not admired.

Market rationality varies depending on the game being played.

Wealth can spur acceptance of irrational ideas.

Logic doesn't persuade; clarity, storytelling, and appealing to self-interest do.

You only know someone well if you can predict their reaction under stress.

There's a critical difference between experts and unquestionable gurus.

Past performance boosts confidence, not necessarily ability.

Happiness lies in the gap between expectations and reality.

Social phenomena rarely hold universal truths.

Choosing a life partner is a major decision not taught in schools.

Unjoyful spending causing financial trouble is a double loss.

Blind faith in one idea can lead to both success and downfall.

Successful people either have imposter syndrome or are sociopaths.

Dependence on boom periods makes busts dangerous.

Reality matches your level of delusion.

People forget the cyclical nature of recessions.

Health often takes a backseat to financial concerns.

A few positive outcomes can prove pessimists wrong.

Knowing when to stay silent is an important communication skill.

Disappointing valued people in life isn't desired.

Focusing on permanent things while ignoring temporary ones is underrated.

Facts can become nonsense without context.

People tend to forecast linearly despite economic cycles.

People are generally more gullible than they believe.

Price and value are distinct and can be manipulated.

Luck is often overlooked in success but blamed in failure.

People often fear external harm more than self-inflicted harm.

Control is significant, impacting how situations are perceived.

Conviction can often mean ignoring facts that challenge beliefs.

Real-world attention spans are much shorter than academic requirements.

Wealth can become a social liability beyond a certain point.

Happiness is complicated by the desire to be happier than others.

Incentives can lead people to believe and defend almost anything.

Good marketing wins short-term, good products win long-term.

Judge talent at its best

“From school, I remember: Every good story I was told, but none of the formulas I memorized before a test.”

I had a teacher who would often go on and on with stories about hunting and traveling. I think of his stories when I pass through the areas he told stories about. I’m convinced he was teaching us local geography without us noticing.

I had a history teacher who told the most captivating historical stories. I almost want to reach out to him and ask how he learned to be such a great storyteller. Something to work on for myself I think.