#326 - Jim O'Shaughnessy - Surviving The Great Reshuffle
May 27, 2021
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Jim O'Shaughnessy, an investor and the founder of O'Shaughnessy Asset Management, discusses the dramatic shifts in our workforce landscape. He shares insights on the 'Great Reshuffle' and how digital skills are overtaking traditional roles. Jim argues that the pandemic has leveled the playing field for global talent while highlighting the dangers of grade inflation in universities. He humorously reflects on historical figures like Isaac Newton and emphasizes the importance of personal branding and resilience in adapting to these changes.
Digital transformation is reshaping workforce skill sets globally.
Independent platforms offer more diverse and authentic perspectives than traditional media.
Critical thinking and self-awareness are vital for personal growth and intellectual development.
Deep dives
The Digital Revolution: Adaptation to Changing Skill Sets
The world is undergoing a drastic transformation where traditional skill sets are becoming obsolete. Jim O'Shaughnessy discusses how the digital shift is reshaping the workforce, necessitating new skill sets for success. The collapse of time, space, and geography due to digital advancement is creating opportunities for global talent. This transformative era requires individuals to embrace nonlinear thinking processes and leverage digital platforms for personal and professional growth.
Media Propaganda and Divergence From Traditional Outlets
Traditional media outlets are criticized for fueling polarization and spreading fear, uncertainty, and doubt. The rise of independent platforms like Substack signifies a shift towards authenticity and diverse perspectives. Sam Harris, Matthew Iglesias, and other independent writers are leaving mainstream media for more personalized and less bureaucratic channels. The hierarchical narrative of traditional media is challenged by the growing demand for nuanced and unfiltered content.
Challenging Beliefs and Embracing Change
The conversation delves into the importance of challenging dogmatic beliefs and remaining open to diverse perspectives. Emphasizing the value of authentic personal growth, Jim O'Shaughnessy advocates for self-awareness and critical thinking. Exploring the impact of historical bias and evolving societal norms, the discussion highlights the journey towards enlightenment and truth realization. The power of introspection and willingness to reconsider entrenched beliefs are presented as essential elements for personal development and intellectual growth.
The Vulnerability of Smart People to Deception
Smart individuals can fall prey to deception due to their belief that their intelligence will protect them from being duped. Even the most intelligent individuals can be easily fooled because they create bulletproof narratives that convince both themselves and others. The podcast cites the example of a victim of a scam who authored a book on cons, highlighting the irony. The emphasis is placed on the importance of recognizing inherent vulnerabilities to avoid being misled.
The Journey Towards Personal Growth and Success
The podcast delves into the concept of passion and persistence as keys to both happiness and success. Emphasizing the importance of thinking like an owner rather than an employee, taking responsibility for one's actions is highlighted. Tim Cook's advice on following passion being the hardest yet most rewarding journey is echoed, advocating for continuous learning and adapting to changing environments. The discussion also touches on the significance of writing thoughts to solidify and understand ideas, and the value of failure as a stepping stone towards personal growth and agency.
Jim O'Shaughnessy is an investor and the founder, Chairman, and Chief Investment Officer of O'Shaughnessy Asset Management.
Time, space and geography are collapsing. The richest people on the planet are no longer in charge of labour or buildings, they're symbol manipulators. The skillsets we need today are completely different to what was needed 50 years ago, let alone 500. Jim is here to give us some advice on how we can survive this catastrophic reshuffling.
Expect to learn why 2020 was the best thing to happen to talented people in the developing world, the danger of grade-inflation in top flight universities, why we both have a man-crush on Rory Sutherland, why Isaac Newton was a dick and much more...
