The Power of Social Proof

"I've always attended the meetings ever since I've had a ticket to go. As long as you're a shareholder, you're invited and I had one share for a long time." "Social proof is the one that's trending right now. Not because somehow social proof has become more potent in human consciousness ... It's because it's become more available than ever before," he says.

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IN THIS EPISODE, YOU’LL LEARN:

How Charlie Munger and Warren Buffett made 100s of millions of dollars by reading Dr. Cialdini’s book.
Why Warren Buffett always starts his annual shareholder letter by outlining a mistake he has made in the past year.
The 6 most powerful factors of influence used in marketing.
What Daniel Kahneman has said is the most important thing to understand.
Why and how 97% of all online buyers are influenced by social proof before making a buying decision.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Robert Cialdini’s book, Pre-Suasion – Read reviews of this book.
Robert Cialdini’s book, Influence – Read reviews of this book.
Robert Cialdini’s website, InfluenceAtWork.com.
Preston and Stig’s Discussion of, Influence in Episode 22.
Daniel Kahneman’s book, Thinking Fast and Slow – Read reviews of this book.
Aristotle’s book, Rhetoric – Read reviews of this book.
Charlie Munger’s book, Poor Charlie’s Almanack – Read reviews of this book.
Related episode: Influence – Robert Cialdini’s psychology of persuasion w/ Preston & Stig - TIP22.

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