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The Morgan Housel Podcast

The Art and Science of Investing

The Morgan Housel Podcast

Morgan Housel

Business

4.91.1K Ratings

🗓️ 12 March 2025

⏱️ 14 minutes

🧾️ Download transcript

Summary

Technology is a science. It’s semiconductors and code and batteries.

But Steve Jobs talked about how the iPad was playful and begged you to pick it up as much as he’d talk about its processor. The iPhone is a technological marvel, but Jobs spent a lot of time talking about how it felt in your hand, and the experience of opening the box.

Job’s insight, and the most important factor in Apple’s success, was realizing that technology isn’t merely a science. It’s just as much an art.

Thanks to my friends at Ramp -- the best expense accounting system I've seen. For more check out ramp.com/morgan.

Transcript

Click on a timestamp to play from that location

0:00.0

One of my favorite quotes is from David Packard, who once said, more businesses die of indigestion

0:06.2

than of starvation. I see this all the time. It is so common with money, whether it is for you

0:12.2

individually or for your business, that people get so tangled up in the big complex projects

0:17.3

that they drop the ball on the small stuff. To do well over time, you have to get the

0:22.1

simple stuff right first. And one of those fundamentals in business that often gets overlooked

0:27.7

is expense management. And that is why 25,000 businesses use Ramp. Ramp is a corporate

0:34.9

card that includes the best expense tracking and reporting software that I have

0:39.1

ever seen. It makes expense management so simple by automatically capturing every transaction

0:45.1

the moment a card is swiped. For listeners of the show, Ramp is offering metal cards for the next 30

0:50.4

days. Just go to Ramp.com slash Morgan. That's Ramp.com slash Morgan. That's ramp.com slash Morgan. Cards are issued by

0:58.7

Sutton Bank, member FDIC, terms and conditions apply.

1:06.1

One of the funniest quotes from Steve Jobs is when he told Bill Gates that Microsoft products would be better if he, Bill Gates, had done more LSD.

1:20.3

Now, I'm not recommending you or anyone else do that, but his point, Steve Jobs' point, was that Microsoft products were maybe good technology,

1:29.8

but they lacked the artistic feel and polish of Apple products. Now, some people might disagree

1:36.6

with that, but Steve Jobs talked about this all the time. He used to say that Apple was building at the

1:42.8

intersection of art and technology.

1:46.0

And Edwin Land, who was the founder of Polaroid, was a huge inspiration on Steve Jobs.

1:52.5

And Edwin Land used to say this as well.

1:55.4

He once said, quote, industry is at its best at the intersection of art and science.

2:01.9

And that, of course, rubbed off on Steve Jobs.

2:03.8

And that was maybe, and still is today, the defining characteristic of Apple.

2:08.3

Yes, it is amazing technology.

...

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