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The Intrinsic Value Podcast - The Investor’s Podcast Network

MI Rewind: Warren Buffett’s #3 & Charlie Munger’s #1 Business Book of All-Time w/ Robert Cialdini

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Business, Education, Investing

4.6592 Ratings

🗓️ 22 December 2023

⏱️ 63 minutes

🧾️ Download transcript

Summary

Robert Leonard chats with Dr. Robert Cialdini to discuss his book Influence, New and Expanded: The Psychology of Persuasion. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:17 - What influence is and why there is so much psychology in persuasion. 07:37 - What the levers of influence are. 27:36 - How the world of digital business is impacted by influence. 32:06 - What makes our cell phones addicting? 36:12 - How do we spot phony online reviews and why this is important? 39:49 - Why personalizing gifts increases the returns of gifts. 47:13 - Which psychological principle Coca-Cola missed that led to a disastrous marketing decision? 48:50 - Why Amazon offers to pay each of its fulfillment employees up to $5,000 if they quit? 54:56 - The question can job candidates ask at the start of an interview to increase their chance of success. 58:49 - What the unity principle of influence is. And much, much more! BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Robert Cialdini’s Book Influence, New and Expanded: The Psychology of Persuasion. John Rulin’s Book Giftology. Gary John Bishop’s book Do the Work. Lewis Howes’ book The School of Greatness. Scott Young’s book Ultralearning. NEW TO THE SHOW? Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. Check out all the books mentioned and discussed in our podcasts here. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

Click on a timestamp to play from that location

0:00.0

You're listening to TIP.

0:02.3

On today's show, we're re-sharing some of the older episodes that are my favorites for a few reasons.

0:07.1

One, we get a bunch of new listeners each week, so new listeners may not have heard this episode before.

0:12.4

Two, even if you've been listening for a while, you may have missed this episode when it originally came out.

0:17.9

Or three, even if you've heard it before, it could be a great episode to learn from again. If you've already heard this episode or you're not interested in hearing it, feel free to just skip it. There's no harm in that. And you can pick up with our new episodes next week. That's all I had for you for this new intro. Everything going forward is going to be from the original episode. I hope you guys enjoy it. On today's show,

0:38.0

I chat with Dr. Robert Chaldeini to discuss his book, Influence, New and Expanded, The Psychology of Persuasion.

0:45.8

Dr. Chaldini is a New York Times bestselling author of Influence and Presuasion, CEO and president

0:52.3

of Influence at Work, where they focus on ethical training,

0:55.9

corporate keynote programs, and the CMCT Chaldini Method certified trainer program.

1:02.9

He received his PhD from the University of North Carolina and postdoctoral from Columbia University.

1:09.2

In acknowledgement of his outstanding research achievements and

1:12.1

contributions in behavioral science, he is frequently regarded as the godfather of influence.

1:18.2

During this interview, we talked in depth about the concepts found in his updated book

1:22.6

that you can use in your daily life. Dr. Chaldingy gave insight on how impactful psychology is in business,

1:30.8

what makes our phones so addicting, how we can spot phony reviews online, and he even shares a

1:36.8

story about how Warren Buffett and Charlie Munger gifted him a share of Berkshire Hathaway's

1:42.7

A-stock because the book impacted them both so much.

1:47.8

Warren Buffett actually ranks Chaldeenie's book as his number three best business book of all time,

1:53.5

and Charlie Munger ranks it as number one. I feel so honored to have Dr. Chaldini on the show with

1:59.4

me today and to have the opportunity

2:01.1

to speak with him. His books are some of my favorites. So without further delay, let's get right

2:06.4

into today's fantastic episode with Dr. Robert Chaldini.

...

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