Morgan Housel
π€ SpeakerAppearances Over Time
Podcast Appearances
And so you're like, if somebody like him, it hasn't necessarily helped him.
So I think for a lot of this, the flaw that people make is seem like I can learn about the psychology of wealth and money and investing and then change myself and change my behavior.
And I think a lot of it, a lot of the evidence is no, you can't.
I think the best you can do is become more aware of who you are and accept it and build a financial plan and build goals that are around that.
I'll give you an example of this.
Jeff Bezos was talking about when he started Amazon in 1994, I think it was.
And he used the, this is now famous, the regret minimization framework.
And he said, if I started Amazon and it failed, I would not regret that.
But if I didn't start it, I would regret that for the rest of my life.
And I remember hearing that and being like, that's awesome.
I love that.
And that is so not me.
If I put everything I had into a startup and raised money for my parents and worked 150 hours a week for five years and it failed, I would be beside myself.
But I'm so glad that he and other people exist.
Exactly.
And never will be.
And so the idea that you have to figure it out what kind of person you are.
And so back to like, I should not train myself to be like, how can I train myself to have the entrepreneur's mentality?
I don't.
It's okay.