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Morgan Housel

๐Ÿ‘ค Speaker
3750 total appearances

Appearances Over Time

Podcast Appearances

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

I have no statistic or even strong thing to back this up with.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

My gut tells me that the younger generation in particular.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

is gonna be the one that looks at social media and looks at AI and recognizes the bullshit that can come out of it.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

It's the older generation, it's the boomers today on social media who believe everything that they see.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

And I think that tends to be where a lot of the polarization comes from, not to blame everything on the older generation, but I think if you were to look at statistically who is the most gullible on social media of believing every post in their feed, it's the older generation.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

And it would not surprise me if the younger generation is much more attuned to how quickly you can be led astray into some bullshit rabbit hole that is not reflective of how the broader world works.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

I don't know if that's true or not, but if you were to ask me to articulate why we're going to get around the social media bubbles, it would be that the generations who have been doing this the longest are going to be the best at recognizing how dangerous it can be.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

I think we have to remind ourselves two things about social media.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

One is that it's been designed by the smartest people of our generation to deliver you in your feed, not the best information, not the right information, basically what's going to give you the most FOMO, the most anxiety, what's going to pull out the starkest reaction in you.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

And the smartest people of our generation have gone to work at Facebook and Google and whatever, and TikTok, to make an algorithm that's going to give you that.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

It's going to give you the thing in your feed that's going to make you go, whoa, what?

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

That's so out.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

And two is that even when it's not that, even when it is just people's thoughts, people go on social media to perform, right?

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

They go on โ€“ like they are trying to give you โ€“ and I'm trying to do this on social media as well.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

I don't want to give you any random thought in my head.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

I'm going to specifically give you what I think is going to be interesting and whatnot.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

So if we view social media as a proxy for the real world, and I think everyone kind of intuitively does, even if they โ€“ when you say it out loud, you're like, no, of course it's not the real world.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

But it's easy to assume that when I open up Twitter or Facebook or Instagram โ€“

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

I'm like, I'm just seeing a window into the world.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

And you're like, no, these are people performing for you and the smartest minds in the world ordering that performance for what's going to give you the most anxiety.