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Morgan Housel

๐Ÿ‘ค Speaker
3750 total appearances

Appearances Over Time

Podcast Appearances

My First Million
10 Years of Money Wisdom in 51 Minutes | Morgan Housel

That's awesome.

My First Million
10 Years of Money Wisdom in 51 Minutes | Morgan Housel

And so, but even when you open the bottle.

My First Million
10 Years of Money Wisdom in 51 Minutes | Morgan Housel

They're like, turns out Thomas Jefferson didn't even bottle one.

My First Million
10 Years of Money Wisdom in 51 Minutes | Morgan Housel

But even when you open the bottle and drink it, you still can't tell.

My First Million
10 Years of Money Wisdom in 51 Minutes | Morgan Housel

So it's this ultimate forgery business.

My First Million
10 Years of Money Wisdom in 51 Minutes | Morgan Housel

That's the point.

My First Million
10 Years of Money Wisdom in 51 Minutes | Morgan Housel

I think there is a thing of like, you do these things because they're cool and they make you feel good and whatnot.

My First Million
10 Years of Money Wisdom in 51 Minutes | Morgan Housel

And so if you have a fake Louis Vuitton purse,

My First Million
10 Years of Money Wisdom in 51 Minutes | Morgan Housel

And does that make you feel, like, what should make you happy is the quality of the purse, the feeling of it, the durability?

My First Million
10 Years of Money Wisdom in 51 Minutes | Morgan Housel

I don't disagree with that.

My First Million
10 Years of Money Wisdom in 51 Minutes | Morgan Housel

But I think there is an interesting thing where the quality of the topic, like brands gain

My First Million
10 Years of Money Wisdom in 51 Minutes | Morgan Housel

their brand a lot of, you know, by the quality of the product.

My First Million
10 Years of Money Wisdom in 51 Minutes | Morgan Housel

There was a period when Louis Vuitton was just a startup bag company and they gained their brand and their prestige based off of quality over time.

My First Million
10 Years of Money Wisdom in 51 Minutes | Morgan Housel

And there comes to a point where it's like, if a fake has that exact same quality, and I totally understand the point about the,

My First Million
10 Years of Money Wisdom in 51 Minutes | Morgan Housel

the history and the story of it.

My First Million
10 Years of Money Wisdom in 51 Minutes | Morgan Housel

A friend of mine just started a men's skincare company and I love supporting him and the product is great kind of thing.

My First Million
10 Years of Money Wisdom in 51 Minutes | Morgan Housel

So like there's a story behind it.

My First Million
10 Years of Money Wisdom in 51 Minutes | Morgan Housel

But I think it's interesting when the prestige of it disconnects from the quality of it.

My First Million
10 Years of Money Wisdom in 51 Minutes | Morgan Housel

To me, I think there's always been this litmus test that I think about, which is if I was on a deserted island with my family and nobody could see how we lived, nobody could see

My First Million
10 Years of Money Wisdom in 51 Minutes | Morgan Housel

Our house, our cars, our clothes, it was completely invisible to every other eyeball except for our own.