We Study Billionaires - The Investor’s Podcast Network
RWH029: Beyond Rich w/ Pico Iyer
Episode guests
Podcast summary created with Snipd AI
Quick takeaways
- Building a rich and happy life goes beyond wealth and possessions, encompassing contentment, good relationships, and peace of mind.
- Stillness amidst the chaos of modern life is a luxury that offers a bigger perspective, true happiness, and rediscovery of oneself.
- Creating space for silence, reflection, and mindfulness allows individuals to regain control over their attention and lead richer lives.
- Travel removes the blinders of routine, cultivates attentiveness, and provides a fresh perspective and a heightened sense of presence.
- Embracing the present moment, embracing the unknown, and approaching life with humility and gratitude are essential amidst the inherent uncertainty of life.
Deep dives
The Importance of Contentment and Inner Wealth
Arnold Vandenberg, a successful investor, emphasizes that true richness and happiness in life stem from contentment rather than financial accumulation. He highlights the significance of health, good relationships, and peace of mind as integral components of prosperity. The speaker agrees with Vandenberg's perspective, acknowledging that achieving and maintaining peace of mind can be challenging amidst the distractions and complexities of modern life. The speaker personally yearns for simplicity, clarity, balance, and calm, recognizing that a rich and happy life goes beyond wealth and possessions.
Pursuing Stillness and Slowing Down
Pico Iyer, an author and thinker, advocates for the value of stillness in a fast-paced world. Drawing inspiration from his book 'The Art of Stillness,' Iyer highlights the luxury of taking a pause and stepping back from the frenetic pace of life. By embracing stillness and solitude, individuals can gain a bigger perspective, pay attention to what truly matters, and rediscover their truest sources of happiness. Iyer's insights encourage listeners to contemplate and prioritize their own need for simplicity, clarity, balance, and calm amidst the constant noise and distractions of modern society.
The Luxury of Attention and Unplugging
In an era of constant movement, distraction, and information overload, the act of paying attention and going slow becomes a valuable luxury. The speaker highlights the concept of the attention economy, where companies strive to capture people's attention. However, taking time for silence, reflection, and mindfulness allows individuals to regain control over their attention and focus on what truly sustains them. The speaker emphasizes the importance of creating space in one's daily life, detaching from devices, and finding time for introspection. By doing so, individuals can reconnect with themselves, gain clarity, and lead richer and more fulfilling lives.
Travel as a Pathway to Wakefulness and Observance
Travel serves as a means to awaken and observe the world around us. The speaker highlights how travel removes the blinders of routine and cultivates attentiveness. In a state of travel, individuals are more open, receptive, and engaged with their surroundings. It allows for deep observation and connection with people and places, providing a fresh perspective and a heightened sense of presence. The speaker suggests that travel can help individuals break free from the autopilot mode of their regular lives and appreciate the intricacies and wonders of the world.
The Sense of Urgency in Embracing the Moment
The podcast episode emphasizes the importance of embracing the present moment due to the inherent uncertainty of life. It highlights that nothing lasts forever and that everything is subject to change. This realization calls for a sense of urgency in relishing the present and making the most of it. The episode explores the idea that dwelling on worries and uncertainties is futile, as we cannot predict or control the future. Instead, the focus should be on taking action and living with a sense of clarity and decisiveness. The discussion also touches on the humbling nature of travel, where we encounter different cultures and perspectives that challenge our preconceptions, reminding us of the vastness and complexity of the world. Overall, the episode encourages a shift in mindset towards embracing the unknown, finding meaning in the midst of uncertainty, and approaching life with humility and gratitude.
The Wisdom of the Dalai Lama
The podcast delves into the teachings and experiences of the Dalai Lama, particularly in dealing with adversity. The Dalai Lama, an embodiment of wisdom and resilience, has faced immense suffering throughout his life due to exile and the plight of the Tibetan people. However, he exhibits pragmatism and a focus on practical solutions rather than dwelling on negativity. He emphasizes the importance of kindness, responsibility, and compassion as fundamental values, transcending religious and cultural boundaries. The Dalai Lama's ability to maintain composure in the face of uncertainty and his unwavering positive outlook on life are inspiring. The episode also explores the concept of impermanence and the need to cherish each moment, as well as the significance of action in alleviating anxiety and worry. Through his teachings and example, the Dalai Lama offers guidance on navigating life's challenges and finding inner peace.
The Complexity of the World and Human Understanding
The podcast acknowledges the inherent complexity of the world and the limitations of human understanding. It discusses the humbling nature of travel, which exposes us to the vastness and diversity of the world, challenging our preconceptions and emphasizing our limited knowledge. The episode highlights that even the people closest to us can remain enigmatic and that our understanding of others and the world will always be incomplete. It explores the idea that while information is readily available, true understanding often eludes us, and that the mysteries of life and the unanswerable questions add beauty and wonder. The podcast emphasizes the importance of embracing uncertainty and approaching life with humility, recognizing that there is much more to learn and discover.
The Futility of Worry and Embracing Uncertainty
The podcast reflects on the futility of worry and the importance of embracing uncertainty. It encourages a shift in mindset from excessive worry to action, highlighting that while uncertainties abound, constantly dwelling on them does not lead to productive outcomes. The episode emphasizes that many pivotal moments in our lives come unexpectedly, rendering worries irrelevant. It discusses the beauty and humility in recognizing the limits of our knowledge, appreciating the mysteries of life, and being open to the unexpected. The episode touches on the insights gained from personal experiences, such as chance encounters and the humbling realization of our limited understanding of others and the world. It ultimately encourages listeners to embrace the unknown, let go of worries, and approach life with curiosity and gratitude.
The Importance of Embracing Uncertainty
The speaker recounts a conversation with their mother, who at the age of 80, revealed that one can never truly know another person. This insight challenged the speaker's preconceived notion of knowing their own mother. The idea that we can never fully know those closest to us is seen as a humbling and valuable lesson. The speaker suggests that as we age, we may develop a greater awareness of our limited understanding of others, emphasizing the importance of embracing uncertainty in our relationships.
Building a Life True to Yourself
The speaker discusses the dilemma faced by their daughter and son, who are wrestling with the decision of choosing a career path aligned with their passion or opting for a more conventional, safer route. Reflecting on personal experiences, the speaker advises taking a leap of faith and pursuing a life that is true to oneself. They share anecdotes of individuals who followed their passions, highlighting the importance of discipline, hard work, and the acceptance of potential failure. While acknowledging the challenges and lack of a definitive answer, the speaker encourages self-exploration and setting a timeframe for pursuing one's passions before considering alternative paths.
In this episode, William Green chats with famed author Pico Iyer about how to create a life that’s truly richer, wiser, & happier. Pico has written 15 books & delivered 4 TED Talks that have received nearly 12 million views. Here, he shares profound & practical insights drawn from his vast range of personal experience: he’s spent decades as a travel writer; befriended everyone from the Dalai Lama to Leonard Cohen; lost everything he owned in a wildfire; & built a remarkably peaceful & productive life in a tiny apartment in Japan.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
04:41 - Why Pico Iyer relishes the calm simplicity of his tiny, uncluttered home in Japan.
08:01 - Why he doesn’t use a cell phone & does most of his work without a computer.
13:45 - What advice he gives to youngsters on making a life & not just making a living.
22:37 - Why going slow has become the ultimate luxury in a world of speed.
26:34 - Why leading business executives are so receptive to his teachings on stillness.
29:55 - How he structures his day to be most productive.
43:57 - Why billionaires like Ray Dalio have embraced meditation.
52:03 - What Pico discovered when a wildfire destroyed everything he owned.
1:17:02 - How Howard Marks applies the Buddhist teaching that everything is impermanent.
1:21:56 - What Pico has learned from decades of friendship with the Dalai Lama.
1:35:55 - How travel shows Pico the limits of what we can ever truly know.
2:03:55 - What the singer & Zen monk Leonard Cohen taught him about inner riches.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
- Pico Iyer’s website.
- Pico Iyer’s TED talk on the Art of Stillness.
- The Half Known Life by Pico Iyer.
- Autumn Light by Pico Iyer.
- The Man Within My Head by Pico Iyer.
- The Art of Stillness by Pico Iyer.
- The Open Road by Pico Iyer.
- Zen Mind, Beginner’s Mind by Shunryu Suzuki.
- Guy Spier interviews William Green.
- William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.
- William Green’s Twitter.
SPONSORS
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- Briggs & Riley
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