The Morgan Housel Podcast Little Ways The World Works
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Apr 26, 2023 Discover how lessons from biology and physics can reshape our understanding of money and business. The discussion reveals the importance of interdisciplinary insights, drawing analogies like goldfish growth and tree development. Explore the impact of scientific principles on corporate environments and the resilience of systems in the face of challenges. The conversation emphasizes the element of surprise in extraordinary events and how belief can influence collective outcomes, weaving together knowledge across varied fields for insightful growth.
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Reading Around Your Field
- Read around your field, not just in it, to gain broader expertise.
- Connect seemingly unrelated fields to uncover fundamental principles of how the world works.
Goldfish Growth Rates
- Goldfish in cold water grew slower but lived longer than those in warm water.
- This demonstrates that supercharged growth can be detrimental in the long run, applicable to businesses as well.
Tree Growth and Strength
- Trees shaded by their mothers grow slowly and develop strong wood.
- Trees in open fields grow rapidly, become weak, and die young, mirroring business and investing.