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Kind: captions Language: en he said something about being a harsh grer of people yes what does that mean well I I told I told Warren I said Warren um you know you are both you and Charlie are such good judges of humans and human nature were you always that good at figuring people out so he says to me monish you have mistaken I am useless at figuring people out he said if you put me in a cocktail party with 100 people and you gave me five or 10 minutes to meet each person uh I could tell you three or four people exceptional and I could tell you three or four people you want nothing to do with and the remaining 92 I would have no opinion on because it’s not enough time to figure them out so but he but he also said that look what you do in life is those three of you people who are exceptional you bring them into your inner Inner Circle and obviously the three or four people who are you know not not the great humans you’re not going to have anything to do with them but the third thing you do is you treat the 92 just like the useless humans and you exclude so he says be a harsh grader so he says that when you have friendships and when you have people you work with your peers and all that he says there’s a gravitational pull if you hang out with people better than you you’re going to get better if you hang out with people worse than you you’re going to get worse so he said that one of the things that most humans are not willing to do is loyalties get in the way for them right so they may have a friend who’s kind of weird or quirky or has ethical issues but they’ve had a long friendship so they’ll keep that person going with them U that has detrimental impacts so basically um I really took that to heart and I said that uh I’m really going to try to see if I can uh focus on the great relationships you know the great people and that’s actually been um a journey I’ve been on now for like you know 16 17 years it’s been tremendous it’s it’s great now it’s it’s unfair right because you’re treating the unknown the same as the useless people but but that’s the way life is I think that sometimes you have to make these difficult choices uh because if you don’t do that then uh the impact of that is significantly negative and one of the things I realized when I started to uh get to know Charlie I got to meet Charlie Char’s friends so I would play bridge with his friends I’d meet his friends and what I realized is his friends were so off the charts they were so exceptional I said wow this is like a different world right and I said I’m going to take a shortcut I’m going to make Charlie’s friends my friends because he’s already done all the work get the filtering is you know can’t get a better filter than Charlie Munger right and and so I I worked on building relationships with Charlie’s friends and some of his family and that’s been beautiful I mean some just great friendships uh and you know I realize that there’s such a huge Delta in off the charts top. 1% top 1% of humans and the rest and you know we we talked about this Adam Grant uh wrote this wonderful book give and take right and he C orzes people uh in three buckets right the givers the takers and the matchers right now the takers you don’t want have anything to do with you know they’re just going to like want to extract whatever they can from you so they’re just not people you want to uh have in your life the givers are people who are selflessly trying to help the planet not really concerned about what comes back to them right those are the ones you want to be with and then the matchers they’re kind of doing math in their heads oh oh you know Sean did this for me so I’m going to do something similar for him they kind of and so even the matchers aren’t that great so what you really want to do is you want to seek out the givers and more important than that is you want to be a giver right and uh and so the the interesting thing that he pointed out in that book is that when you’re a giver the universe conspires to help you and I found it magical how and Warren and Charlie are great example examples of givers everyone’s trying to help them in any way they can and so that’s the the funny thing is that the matchers who are trying to do this you know Equalization they end up losing the best way to get the most is not asked for anything it’ll all come to you right you know and so so these are wonderful models to incorporate yeah there’s even some Game Theory with that which is the cost of excluding somebody who who might be good or might be great is quite is actually quite low to you but the cost of accidentally including somebody who might be have some toxicity it’s quite costly to you and so uh you know I think even in Investments he has the the good pile and then the the too hard pile Warren has a lot of baseball analogies he says that in investing there are no called strikes right so in baseball uh you’re at the pitch three strikes you’re out right he says I can let a thousand balls go by thousand stalks go by and not swing right right I I only need to swing when eight moons line up right and so the fat pitch right the fat pitch right and so the thing is that we live in a world with infinite humans if there are infinite humans it also implies that there are infinite number of good humans so basically uh making of excluding a good human from your circle because you can’t figure them out there’s no penalty for that right because there’s an infinite Supply right just to put it wait for the mathematical way mathematically uh but but when you bring in a substandard person it just there’s so many drains it’s just all right if you like that clip there’s a full conversation with a lot more just like that just follow my finger it is right here