모건 하우절
Partner at Collaborative Fund, author of The Psychology of Money
103 records in all
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4 basic records of 29
Episodes are real events from public sources, summarised by us.
Jeff Bezos started Amazon despite knowing it had a low chance of success because he knew he would regret not trying. He decided that failing after trying would not cause him regret, whereas never trying at all would.
LessonEntrepreneurs should identify which risks they will regret taking versus which ones they will regret missing.
Morgan cites a historian's finding that before 1750, the wealthiest people in the UK often had the shortest lives. This was because they were the only ones who could afford expensive but toxic 'quack' medicines and sham doctors.
LessonThe desire to buy a better life can backfire if you rely on unproven or harmful shortcuts.
As a child, FDR complained about his strict schedule, so his mother allowed him one day to do whatever he wanted. He ended up following his usual schedule exactly, but was much happier simply because he chose to do it himself.
LessonThe feeling of control over one's actions is often more important for happiness than the actions themselves.
When Mark Zuckerberg was 22, he was offered one billion dollars in cash for Facebook. He turned it down because his motivation was detached from money and he wanted to keep building.
LessonTrue outliers have a motivation that is completely independent of financial rewards.
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