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The Morgan Housel Podcast

A Few Ideas That Changed My Life

The Morgan Housel Podcast

Morgan Housel

Business

4.91.1K Ratings

🗓️ 4 August 2023

⏱️ 15 minutes

🧾️ Download transcript

Summary

You spend years trying to learn tons of new stuff, but then look back and realize that just a few big ideas truly changed how you think and influenced most of what you believe.

Let me share a couple that had a big impact on me. 

Transcript

Click on a timestamp to play from that location

0:00.0

Okay, that's enough sad music. Welcome back to the podcast. Thanks again for being near.

0:18.0

One thing I've always believed is that you can spend years trying to learn new stuff. But then you look back and you realize that there are maybe like 10 big ideas that truly changed

0:24.0

how you think and drive most of what you believe.

0:28.0

There's a power law distribution in learning.

0:31.0

You can learn a thousand new things, new ideas and new concepts, but five of them

0:35.7

will have the biggest influence on you, the biggest drivers. This is actually one of the

0:40.4

theories of my new book that's coming out in November, same as ever, that we spend so much of our time trying to figure out the little things that are going to change.

0:48.0

What's the next new technology? Where's the stock market going?

0:51.0

But what actually matters are just a handful of big things that never change.

0:56.1

So I spent some time looking back at what were the biggest ideas that I felt like changed my life.

1:01.8

I could give you a thousand tiny little things I've learned and I'm sure you could do the same.

1:06.3

What are the ten things that's like oh that was a big shift in how I view with the world once I came to terms with it. So I have nine of them for you here.

1:16.5

And let's just get right into it.

1:19.4

Number one, everyone belongs to a tribe and underestimates how influential that tribe is on their thinking.

1:27.0

Tribes are everywhere.

1:30.0

There are countries and states and political parties and companies and industries and company departments and investment styles

1:37.7

economic philosophies religions families schools college Twitter communities, there are tribes everywhere.

1:46.7

And people are drawn to tribes because there is comfort in knowing that others understand

1:52.1

your background and your goals.

1:55.8

But then you have to also understand and realize that tribes reduce the ability to challenge

2:00.6

ideas or diversify your views because nobody wants to lose a

2:05.2

support of the tribe. So people go along with whatever the tribe believes even

...

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