Shane Parrish

Buffett and Munger had a good way to sum this up, which is never ask your barber if you need a haircut.

I want to switch gears a little bit.

My kids had a question for you.

Oh, good.

A few years ago, we're in Italy on vacation.

We walked into a Louis Vuitton store and they saw a purse.

And they were asking me what makes somebody spend, I think it was, I don't know, 20 or 30,000 euros on a purse.

And I had given them an answer, but they wanted me to ask you.

Go deeper on this truth and end line signaling to ourselves when we purchase something.

You know more of a Canadian history than I do.

That is like ultimate signal.

It's like the rappers burning money on videos or something.

Yeah, exactly.

Signaling things that they're probably not intending to signal.

I mean... It probably drives a lot of human behavior, which drives ambition, which drives progress, which drives... I mean, if we genuinely didn't care, okay, if we had no shame, you're absolutely right.

That dishwasher probably works better than a modern one too, by the way.

Why are they four hour cycles now?

Come on.

I have one of these.

It's interesting.