A sign of how good ChatGPT is: I feel compelled to be polite when asking it to do things.

Lucky vs. repeatable

collabfund.com/blog/lucky-vs-…

I must say, Same as Ever by Morgan Housel is one of the most important books I’ve listened to in quite some time. As humanity progresses through the exponential age, the lessons reflected on here are invaluable. Stop what you’re doing and read this book!

A lot of people seem to have a necessary level of stress, and when their life is going well they make up imaginary problems to fill the void.

'In 2023 Americans shelled out more than $100bn on state-run lotteries. Were they a single company, America’s lotteries would be the ninth-most profitable in the country.

economist.com/graphic-detail…

Any amount of intelligence can be overridden by ego, insecurity, immorality, bad incentives, or impatience, usually in that order.

If you're in the DC/Richmond area on May 22nd, check out the Markel Group's annual Reunion meeting.

Food, drinks, and hours of talking about business, investing, and Markel.

More here: mklreunion.com

“Every last recession looks like an opportunity

And every future recession looks like a risk”

- Morgan Housel

How man people alive today will still be well know 100, 500, 1,000 years from now?

My wild guess is something like: 50, 5, 2, respectively.

Depends on how you define 'well known,' but any way you do it the numbers always round to zero.

“Most users spend less than 5 minutes per month on all of the top 25 news sites put together. Hence, online media is forced to compete for the extremely limited resource or reader attention”

We have barely uncovered the consequences of (the ever increasing) drive for engagement

Palisades Tahoe with my son. Some of the best conditions I’ve ever seen … in late March!

'Money buys happiness in the same way drugs bring pleasure: Incredible if done right, dangerous if used to mask a weakness, and disastrous when no amount is enough.'
Morgan Housel

There are exceptions, but in general I think a book should either take a month+ to finish reading or a weekend to finish reading.

A few smart things I've read lately:

collabfund.com/blog/smart-wor…

“The greatest trick the devil ever played was making you believe that the pessimists are the good guys.” Packy McCormick

Charlie Munger tells a story about human nature:

'One of my favorite stories is about the little boy in Texas.

The teacher asked the class, “If there are nine sheep in the pen and one jumps out, how many are left?”

And everybody got the answer right except this little boy,…

Podcast: Woodrow Wilson said government “is accountable to Darwin, not to Newton.” It’s a useful idea. Everything is accountable to one of the two, and you have to know whether something adapts or perpetually stays the same.

Apple: podcasts.apple.com/us/podcast/acc…

Spotify:…