These Super Notes bring Marketing guru, consumer behavior expert, author and Ogilvy Leader Rory Sutherland's one of a kind perspectives on innovation, technology, how to frame your product, what to optimize for, and finding magic in unexpected places all into one place.
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FINAL FOUR VOTING IS OPEN! (MEMBERS ONLY)
Wisdom
1/ The worst mistake you can make in a social setting is to appear not to understand the implicit rules of the game, like dress codes - Rory Sutherland
2/ Contrary to conventional wisdom, if you give people too many choices theyâll end up being less happy as resentment and doubt kick in - Rory Sutherland
3/ Do Not Gaslight Kids: Euphemisms make it really easy to gaslight kids there is nothing worse than taking a kid, who is just figuring out the world, and telling them their perceptions are inaccurate -Jessica Lahey
4/ Desirable Difficulties: Tasks accomplished at the fringe of capability are likely to be stored in long-term memory - Jessica Lahey
5/ No event is so bad that you cannot decide to learn something from it - Ryan Holiday
6/ Astrology: For thousands of years, there was no difference between astrology and astronomy in human history. Astronomy was called the astrology of natural phenomenon - David M. Pena-Guzman
Wealth
7/ Follow the Innovator: Innovation is a backward process, practitioners make the progress, which later is codified by scientists and academics â Rory Sutherland
8/ Follow The Uncertainty: Learning to become comfortable with uncertainty allows you to take advantage of massive opportunities that you otherwise couldnât pursue. âDoubt is certainly not a pleasant condition, but certainty is absurdâ â Voltaire
9/ Buying the Constitution: Ken Griffen outbid Web3 at auction for an original copy of the Constitution, but why? A16z asked the question and all we got was a clearly scripted by a PR agency response. It was spite after the GameStop/Melvin capital debacle, no doubt. â Podcast Notes
10/ Brief History of the US Reserve Currency:
- The US, despite the great depression, managed to hold on to most of its gold.
- Rich people from Britain and France, brought their capital to the US which helped lift the US out of the depression.
- By the end of the 40s, the US had the most gold in the world.
- By the late 1960s, it was clear the US could not provide the gold to back up their currency.
- The Trap: On August 15, 1971, Richard Nixon ârug-pulledâ the world by taking America completely off the gold standard. This left foreign nations with no way to redeem their gold. Countries could use the currency to invest in the US and buy their exports.
11/ Why Did Robinhood Halt GameStop? âRobinhood had a problem of too much successâ. Ken believes they had to restrict trading because the âgood faith collateralâ (which equaled roughly $3billion) was more than shareholder equity which resulted in an inability to post the margin calls â Ken Griffen
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