Morgan Housel

are based on the idea that like, this is just me.

I have a family to take care of.

So I'm not going to take risks that I otherwise might if I was on my own.

And otherwise would make perfect sense to me if I was on my own.

But now I have the family guardrails around me to temper that down and be like, no, this ain't for me.

And certainly I did a lot of crazier things when I was much younger and not married, not not partnered because they seem like good.

I think I think the vast majority of young men in particular, when they are first exposed to investing, have a pure gambling mindset.

And the idea of like buy a diversified portfolio and hold it for 50 years, you're like.

That's nobody's knee-jerk reaction of what you should do.

Everybody's knee-jerk reaction is like, what's the fastest way that I can get rich?

There is so much financial history across cultures, across countries, across generations, that if you give people the tools to light themselves on fire financially, they will douse themselves in kerosene and light the match.

They will take it full and ruin their lives doing it.

Yeah.

And they'll do it.

And so, look, I'm a free markets guy.

I'm a individual responsibility guy.

But giving 17-year-old boys the power to bet their meager life savings that they need for tuition or whatever it might be.

to bet on the spread of tonight's game.

It's I, I, I don't think we're gonna look at that fondly and every statistic, it hasn't been around for that long.

Mm-hmm and every statistic, if you talk to like therapists of just like the explosion of young men coming to them and being like, I'm broke, I lost everything.