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In the podcast episode, the speaker discusses the concept of happiness and how it is often misunderstood. He shares his personal journey of redefining happiness as an internal experience rather than being dependent on external circumstances. The speaker emphasizes the importance of finding joy and meaning in the small achievements, relationships, and experiences that bring fulfillment. He also encourages listeners to shift their decision-making process from outcome-based to value-based, prioritizing alignment with their true beliefs and values. By focusing on values that will last beyond the physical plane, individuals can find a sense of purpose and meaning in their lives.