#140 Same as ever
It’s the first Saturday of 2024, and my X feed and Substack posts are filled with people sharing their New Year resolutions and the lifestyle changes they plan to make. Instead of adding another drop to this vast ocean of publications, I want to focus on things that will stay the same. Things that will remain same as ever.
Same as Ever is the second book by Morgan Housel, following his New York Times bestseller, The Psychology of Money, which I've read three times! It explores timeless stories about creating and managing wealth. I also shared some wise lessons from that book in the 95th edition of The Passion Pad.
Consider a person working at a stable job in a company for many years. They might feel secure and comfortable, thinking their job is solid. However, the industry could change rapidly due to technological advancements or economic shifts. Suddenly, their job security is hanging by a thread, and they find themselves needing to adapt to new circumstances. Think about a family enjoying a peaceful life in a safe neighborhood. Everything seems secure until an unexpected event, like a natural disaster or economic downturn, disrupts their surroundings. The sense of security they once had is now hanging by a thread, and they must find ways to cope with the changes.
In a global context, consider how political situations in different countries can shift unexpectedly. What seems stable and predictable today might change dramatically tomorrow, affecting economies and livelihoods. This volatility shows that the stability of our world is often hanging by a thread, and having a wider imagination allows us to be more prepared for unforeseen events. Acknowledge the uncertainties in life, understanding that no matter how things appear today, they can change. Having a broader imagination helps us anticipate and adapt to these changes, making us more resilient and better equipped to navigate the unpredictable nature of the world.
Winston Churchill, known for his leadership during World War II, provides a compelling example of being more than just a politician – he was a remarkable storyteller. While some may argue about his political decisions, Churchill's ability to tell captivating stories played a significant role in his success. Churchill faced challenging times as the Prime Minister of the United Kingdom during World War II. His speeches, delivered with passion and eloquence, rallied the British people during their darkest hours. One of his most famous speeches, the "We shall fight on the beaches" address, painted a vivid picture of resilience and determination in the face of adversity. It wasn't merely about presenting policies or strategies; Churchill framed his messages in a way that stirred emotions and ignited a sense of national pride. His storytelling helped people connect with the larger narrative of the war effort. Instead of just being a politician with plans and policies, Churchill became a leader who inspired through the art of storytelling. The idea of "best story wins" applies to Churchill's ability to communicate a vision and motivate people. He wasn't necessarily the most polished politician, but his storytelling skills allowed him to navigate the complexities of wartime leadership and leave a lasting impact on history. Not the best idea, or the right idea, or the most rational idea. Just whoever tells a story that catches people’s attention and gets them to nod their heads is the one who tends to be rewarded.
What motivates people to do things is a really big deal. Imagine you have a reward or something you really want, like a tasty treat. The thought of getting that treat makes you excited and pushes you to do certain things, like finishing your homework or cleaning your room. Now, think about this on a larger scale. In the world, people are driven to do things based on the rewards or benefits they expect. It's like saying that incentives, which are like rewards or motivators, have a super strong influence on how people behave.
For example, in school, students might work harder if they know they'll get a gold star or praise from their teacher. In the workplace, employees may be more motivated if they receive bonuses or recognition for their hard work. Incentives can also impact bigger things in society, like how businesses operate, how governments make policies, and even how people make decisions about their health. Understanding the power of incentives helps us see why people and organizations act the way they do. It's like realizing that the promise of something good or the threat of something bad can be a mighty force in shaping behavior and choices. So, whether it's in our everyday lives or on a global scale, incentives play a huge role in driving the actions of individuals and societies.
Hanging by a thread, Best story wins, and Incentives – these are just three lessons that will always stay the same because they are like the ABCs of how life works. It's like saying, no matter how much time passes, these ideas will still be true because they are the basic truths of how things are. In life, situations can feel delicate, just like hanging by a thread, and telling a good story can make a huge difference. Plus, the powerful force of incentives, like rewards or motivators, guides how people act and make choices every day.
Understanding these fundamental truths can help us make sense of the world around us. So, it's like having a compass to navigate through life's ups and downs. If you want to dive deeper into these timeless lessons, I recommend reading Morgan Housel's book. It's like a treasure chest of wisdom that can open your eyes to the simple but profound truths that will always be relevant.
See you next weekend, have a wonderful week ahead :)
Cheers!