The Morgan Housel Podcast
Low Expectations
Jun 14, 2023
Kick off with the idea that high expectations can lead to disappointment, illustrated by Amazon's peaks and valleys. Discover how the Japanese stock market's ups and downs highlight the risks of inflated hopes. Dive into the benefits of setting realistic goals, as embracing failures can nurture resilience. Finally, learn how low expectations in both investment and daily life can amplify your appreciation for small wins, enhancing overall happiness.
15:20
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Quick takeaways
- Setting low expectations can lead to greater happiness and satisfaction in life.
- Having high expectations can result in disappointment and setbacks, emphasizing the importance of realistic goals.
Deep dives
Impact of High Expectations on Amazon and Individuals
High expectations for Amazon in 2021 led to a top-of-the-world status where everyone felt prosperous and proud. However, challenges such as Jeff Bezos leaving, stock price drops, and layoffs altered the atmosphere to one of uncertainty and fear. The concept of 'expectations debt' emerged where meeting extraordinary goals was necessary to even break even, causing good results to feel like losses. This dynamic is not exclusive to Amazon but applies to individuals in various life pursuits.
