Renowned writer and partner at the Collaborative Fund, Morgan Housel, discusses his new book and the impact of his writing on investors. They explore the rapid dissemination of technologies, resistance to change, and a controversial decision made by OpenAI. The responsibilities of company boards and the gradual improvement in heart disease mortality are also discussed. They address the challenge of thinking about things that never change amidst a constantly changing news cycle.
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question_answer ANECDOTE
Fame Creates Social Liability
Morgan Housel warns fame makes people treat you differently and isolates you.
He says being surrounded by yes-people becomes a social liability you must resist.
insights INSIGHT
Long Incubation, Sudden Spotlight
Morgan Housel notes technologies often incubate for decades before exploding into public view.
He calls OpenAI's abrupt ouster of its CEO an astounding communication failure.
volunteer_activism ADVICE
Board's Three Clear Jobs
Morgan Housel quotes Markel: the board must hire, fire, and pay the CEO.
He advises boards not to run the company but to ensure the right leader is in place.
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On episode 119 of The Compound and Friends, Michael Batnick and Downtown Josh Brown are joined by Morgan Housel to discuss: Morgan's new book "Same as Ever: A Guide to What Never Changes," what the OpenAI board got wrong, writing that stands the test of time, and much more!
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