Nat's Notes

How to Predict the Future (Same as Ever by Morgan Housel)

39 snips
Nov 10, 2023
In this podcast, topics covered include how to predict the future, the importance of investing in preparedness, the power of storytelling in bestselling books, the dangers of rapid growth, maintaining a competitive advantage, and thought-provoking questions for introspection.
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INSIGHT

Focus on the Unchanging

  • Focus on unchanging aspects for long-term success, like Amazon's focus on low prices and fast shipping.
  • Chasing trends hinders long-term compounding gains.
INSIGHT

Unforeseen Risks

  • The most significant risks are unforeseen; the 2020 Economist issue didn't mention COVID-19, nor the 2022 issue Russia's invasion of Ukraine.
  • Prepare for unforeseen risks, like California prepares for earthquakes without specific predictions.
INSIGHT

Certainty over Accuracy

  • People crave certainty over accuracy, preferring definitive answers even if partially wrong.
  • Unlikely events should happen regularly due to the sheer number of possibilities and people.
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