My favorite Charlie Munger story:
In 1953, Munger was 29 years old.
Recently divorced. Lost the house. Huge social stigma of divorce back then.
His 8-year-old son, Teddy, was diagnosed with cancer.
The leukemia was incurable.
No medical insurance - Munger paid for all his medical care.
Charlie would visit Teddy in the hospital every day -- and then walk the streets crying.
Teddy died at the age of 9.
Charlie was broke, divorced and just lost his child.
99.9% of people would've turned to alcohol, drugs, or suicide. (And you'd understand why)
Munger never did.
Fast forward to 52 years old, a failed surgery left him blind in one eye with the potential of going fully blind one day.
Charlie was an obsessive learner who read every book he could get his hands on.
When confronted with the possibility of going blind and no longer being able to read he said:
"It's time for me to learn braille!"
The only thing that might be more impressive than his intellect was his actions.
RIP.
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Munger on Self-Pity:
"Generally speaking, envy, resentment, revenge, and self-pity are disastrous modes of thought.
Self-pity gets pretty close to paranoia…
Every time you find your drifting into self-pity, I don’t care what the cause, your child could be dying from cancer, self-pity is not going to improve the situation. It’s a ridiculous way to behave.
Life will have terrible blows, horrible blows, unfair blows, it doesn’t matter. Some people recover and others don’t.
There I think the attitude of Epictetus is the best. He thought that every mischance in life was an opportunity to behave well. Every mischance in life was an opportunity to learn something and that your duty was not to be immersed in self-pity, but to utilize the terrible blow in a constructive fashion. That is a very good idea."
One of the best videos I've seen in a long time
Please spend 5:57 listening to this
The BBC asked kids in 1966 to predict what life will be like in 2000
And their answers are amazing, articulate and generally very very pessimistic and wrong
A few that jumped out:
* 1:29 - fear of automation and not enough work and overpopulation. Echoes what we hear today esp around AI
* 3:25 - we'll be living in domes in the sea or in the Sahara. Amazing.
* 4:09 - remarkably prescient on industrial farming (best prediction of the whole thing IMO)
* 5:22 - Some optimism emerges from 2 of the kids (then back to pessimism)
I asked my kids to predict what life would be like in 2050 and they pointed to climate change, AI automation, etc
They were also pessimistic
But here's the reality:
From 1966 to 2000
* those living in extreme poverty decline from 46.3% to 25.3% (and as of 2018 stands at 10.1%)
* life expectancy has gone up from 54 to 73
The world is, in fact, getting better
Us humans are remarkably good at finding solutions often using technology and entrepreneurship
It's easy to believe all the FUD (fear, uncertainty & doubt) that people tend to propagate but in 2050 or 2100, the trends and data suggest the world will actually be a better place.
After showing my kids the video, I'm hopeful they'll also start thinking about how it might be better (and hopefully they'll play a hand in making it so) AND be skeptical of all the bad news purveyors.
Anyways, I hope you'll watch the video. And for those with kids, maybe watch with them. It's good.
And in closing, British accents are dope.
💡 The electronics system was 5% of car costs in 1970.
It's expected to be 50% by 2030.
Self-driving is not going to be the only advancement when it comes to "car computers"...
Exhibit A: The Ford F-150 has 150m lines of code!
Look out for car malware, app stores, etc