Walking is good exercise and the pace at which you walk can make it even better. This episode begins with a brief discussion on the rather remarkable benefits of a brisk walk over a casual stroll. https://www.healthline.com/health-news/people-who-walk-faster-tend-to-live-longer
How do you get good at something? Some people think it takes experience or lots of practice. Well, there is another way – a more effective way to improve your abilities at anything you choose to do. That is what Eduardo Briceño is here to explain. Eduardo has a wonderful Ted talk about this called How to Get Better At The Things You Care About (https://www.ted.com/talks/eduardo_briceno_how_to_get_better_at_the_things_you_care_about) and he is author of the book The Performance Paradox: Turning the Power of Mindset into Action (https://amzn.to/45Hs4NY)
You may not yet be aware of it yet but there is a movement in the United States that is encouraging people to own less AND feel good about it. Imagine the freedom of not being burdened by home ownership or ownership of just about anything else. Wouldn’t that feel great? For many people the answer is NO. Ownership is the primary path to wealth creation. One of those people sounding the alarm about this is Carol Roth who is author of the book You Will Own Nothing (https://amzn.to/44wDGCr). Listen as she explains who is behind this movement and why it is something to better understand and be concerned about.
Is chewing gum good for you? Well it’s not going to cure a disease or make you healthy, however there are a few actual benefits to chewing gum. Listen as I explain what some of them are. https://selecthealth.org/blog/2017/04/surprising-benefits-of-chewing-gum
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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
Today on something you should know. Next time you walk, walk a little faster I'll. Tell you! Why, then, if you want to get good at something experience, isn't everything there's resource at harvard to see how much medical doctors improve their patient outcomes, that more years of experience that they had on the job and what they found is an average patient outcomes of doctors goes down. The more years of experience also are their health benefits to chewing gum, and there is a growing movement to get people to own less your homes, fewer cars, everything, and that has a lot of folks concern. There is one thing that I know the more than anything to be true and that's wealth comes from ownership. So the idea that
but I wouldn't have ownership was very concerning to me off
today on something you should know.
Something you should now fascinating into the world's top experts and practical advice. You can use your life at something. You should now make her brother s.
I can do something you should now. I know why
People listen to this pipe cast any podcast while their walking. I do the same thing.
You're walking into worker down the hall or around the block or whatever you might want to pick up the pace. A steady says that people who walk faster, live
hunger. Researchers at the university of Pittsburgh looked at thirty five thousand people over the age of sixty five and determined that the faster they walked.
the lower their risk of death. The results were significant. The fast walkers lived up to ten years.
longer than those who just shovelled along
slowly. Another study from harvard
found that women who walked regularly at a brisk pace could reduce their risk of stroke by forty per
and that is something you should know.
Have
you ever wish that you were better at something. Then you are maybe it's us
order, a musical instrument or something you do at work or public speaking.
Baking or whatever. It is, I suspect, all of us with
We were better at something but
oh you're reaches ceiling, its frustrating, you can't quite get better, yet other people get better. If this has ever happened to you, you need to understand something called the performance paradox in here
to explain it is Eduardo pr. Signo users,
baker and writer, who has a great ted ex talk, called how to get better at the things
care about and he's author
A book called the performance paradox I had word Eduardo, welcome to something you should know. Thank you mike is great to be here,
so explain briefly. What the performance paradox is sure that performers paradox is
hunter intuitive phenomenon that, if we focus only on performing our performance suffers. So if we focus only on getting things done as best as we know how trying to minimize mistakes we stagnate and what would be
good example of that an example that easy to understand, as if we look at world class performers,
domain, where performance can be objectively measured. So if you look at a world class ass,
Wait when we look at them, they are in a tournament playing a match. They are in what I call the performance zone, which is where they're trying to win they're trying to do the things they know how to do best trying to minimize mistakes, and the mistake that we make is that we tend to think that the reason they become so good at what they do is that they spent a lot of time doing what we see, but actually the reason they become so good is because this they have
and a lot of time doing something very different from what we see during the match. If they're having trouble with a particular move, they will avoid that move. But then, after the game, they'll go to their coach and they'll, say coach. I have to work on this particular move and that's a very different activity than what we see during the match, and it's when they're focused on improvement on increasing their skills and their capabilities. That's what I call the learning zone and as what
it does to build their skills into race our performance over time. Well, I guess there is that sense that, for example, you know if you want to be a better guitar player, you keep playing.
you play the songs. You know you play over and over and over again try to play them better, but you're, saying
that's not what helps that's right,
s actually how I used to play the guitar growing up. I used to play the guitar and I would practice by playing the songs I liked best and that I did best and over and over, and I was pretty mediocre.
tar player as a result of that. So, if you look at research, the the way that people become better at playing the guitar is by taking a little piece of a song like a little piece of something that
we're struggling with, or that you could do better and focusing on that skill at trying and seeing how it sounds: getting feedback, making an adjustment training again, making an adjustment again, that's what's called deliberate practice and that's what enables people to become better at the
are in your ted talk you you tell the story. You have a great example of someone who uses the learning zone the way you describe it so well or did new hundreds of years ago, but but tell that story. Yes, oh at a very skilled
or like greek order or a bad name of demosthenes either
in great at what he did and he's a great example of what the
things are- looks, looks like because you he was a fantastic lawyer and you would think again that he became so good because has some much experience. What you had so many years of experience practising law and giving speeches, but actually the way he improved, was very dear
from the waiver he perform, so he I'm he disobey unconventional things he would
He had a list, and so he would put rocks inside of his mouth to make it harder to talk to be able to enunciate more clearly and speak more clear
he. He had a weird thing where he would lift one of his shoulders. So he went to his baseman and put a sword hanging from
stealing so that whenever and he would practice in front of the mirror in front and under the sword, so that when he lifted his shoulder, it would hurt, and so he was stopped lou. Doing that add the courtrooms where filled with
people making case annoy, says you know if they dislike you or they dislike what you don't know what you're saying ass though he would go to the shore
The ocean, where is really loud and windy, and he would practice speaking then
and so these are examples of how you not engaging in activities to improve is very different from engaging in the courtroom. Conversation is trying to do your best asbestos. You know how
yeah well- and you used the word experience and I think that's that's so important, because people think the experience of doing it whatever it is guitar
playing writing speaking. That job
doing it is what makes you better and clearly,
it's not just doing it it's,
getting in the learning zone. In doing all the things you talk about absolutely, I think a lot of us are confused about the difference between experience and expertise, there's resource out of harvard that look that sixty two different research studies at to see how much medical doctors improve their patient outcomes, the more years of experience that they had on the job and what they found is an on average. The patient outcomes of doctors goes down the more years of experience and
This is not true for all doctors and other our doctors who continue to get better over time, but those are the doctors that understand the learning zone and figure out ways to it to to develop learning zone habits, as opposed to being so busy rages. Seen patients diagnosing treating prescribing that they're just trying to their best they can with each patient as a result of that they they forget information, that's relevant to infrequent diagnosis. They may not stay up to date with kind of the new technologies and techniques and they're they're they're. Performers decreases over time. I supposed to somebody like, for example, nandi bushel, who is that
ten year, all drums player, who is fantastic at the drums world class. She has played with a full fighters and she is very little experience, but he had she has great expertise because she has engaged in the learning zone effectively and she's ten at she's. Now, twelve,
I see, was ten when she was started doing drawn battles with bit the head of the food
there's dave growl over twitter, and he was just incredible to see them plain to drums together
So what about something like writing where you think well, the only way to be a better writer is to write more and write more.
Right more, but that defies what you're talking about when we are novices when we don't know how to do something. If we
try to do it, then we will become better because we're so bad. We don't need great learning strategies. We also need to get a sense of what the activity feels like so just kind of trying to write is not a bad thing to do if you're just starting out, but then, once you become proficient, you want become better as a writers. So, for example, Benjamin franklin when he wanted to become a better writer what he would do ass. He would take great writing that he thought was fantastic writing.
one of the things he would do is he would split the sentences and scramble them, and then he would reconstruct the sentences he he would leave him there for a couple of days and then reconstruct them in a way that he thought would make for a great article, and then he would compare what he did with the original article and see what worked better. So that's an example of something that was deliberate in order to better figure out how to structure articles in ways that work better.
And you you claim that this basically works for everything at any skill or talent or thing that you're trying to get better at different
earning zone strategies work for different skills, but they all,
of the learning zone, which means leaping b,
The known you know focused on improvement, not just on getting things done and for most of us
you know we're really busy. We had a lot of things to do so. Deliberate practice might not be the best thing for each of us, but it is bought the bishop of the best opportunity for all of us to improve
is to embed the learning zone into our performance zone. That is to shift the way we do things so that our goal is not only to get things done, but also to get things done while improve.
At the same time and that's different than the way. Most of us are working but wait vineyard,
doing both things at the same time you are performing and law
but I thought you had to be in either the learning zone of performing zone that you couldn't be in both at the same time. But you say you can
absolutely so the greatest opportunity is not to devote large blocks
of time to the learning zone like deliberate practice, because we're really
is he we have a lot of things to do and for most of us the biggest opportunity,
shifting the way we work so that we work not only
the sole goal of getting things done, but with two goals, the goal of getting things done
and to get better overtime, and so, in order to do that, we have to kind of shift the way we work. We can't be doing this
in writing today than we did yesterday and last week, because without change we can improve. Sometimes we like the idea of improving
but we don't like the idea of change, but of course we can improve without change. We have to solicit feedback it. Probably the most effective strategy in the workplace to learn is to get information from our colleagues from the
bore trying to serve. We need to examine mistakes and think about them and talk about them. So we can extract the lessons and figure out what will do differently going forward, not just gonna disregard mistakes. We have to share.
with each other. What were seeking to improve and how so that they know to give us in for,
asian along the way and those things are done,
and then the way most of us are working most of the time we're talking
how to get better at whatever you want to get better at, and my guess is Eduardo basilio he's
bigger and writer and author of the book. The performance paradox
so Eduardo. You said to get feedback input from your colleagues, but how do you know that your colleagues
have any valuable input to give a minute. They certainly may have opinions, but it doesn't
them right doesn't make their advice. Good feedback is informed,
asian about, what's in other people's minds, what their proceeding
as social beings. We are
we saw. Much of what we do is to make an impact
other people, whether it is our colleagues, are boss? You know our partner, our kids are friends,
and so when we get information about how we're coming across and what
we're doing that's helpful or not helpful. You know it.
Doesn't mean that we have to do whatever they say, but the information.
The share is also is always a very, very helpful to inform. You know how we can continue to do things better and
where we can have the impact we want to have on other people, it seems
Oh that's just the
experience of doing something over and over again can make you bet
make you more proficient, I can speak for myself it. You know we're on episode nine hundred in something of this podcast. If you go back
listen to the early episodes they
nowhere near as good as they are now in a lot of ways, and it isn't because-
I spent a lot of time deliberately trying to figure out. How do I do it better so much as I just kept doing it and home
it and making it a little better. Each time, just the experience of doing it made it better. First of all the experience of doing it,
does make a big difference in improvement when we're novices. Sir, I am not surprised that from episode wine to episode, one hundred you know it- you became significantly better from just doing it
and but I wonder whether, from episode five hundred to nine hundred, you have become significantly better. Maybe yes, maybe no, and and if it's yes, then, maybe to your question, you started asking: do you think some people intuitively know this, and the answer is yes, you know some people when they're done
when things there doing things in a way that they are going to improve along the way
an example of this is is there is research study where they look that people who believed that they could get smarter? That's what we call a growth mindset versus people who believe they can get smarter was route, which is what we call a fix my set, and they put him in a brain scan machine and they looked at how their brains worked. While they were solving problems in the brain scan machine and what they found is for the people who believe they couldn't get smarter. Their brain was most active and more most interested,
when they were getting information about whether the they got his problem right or wrong. But their brain was not active at all at at a different time, which is the time when the people in a growth mindset, brains was most active so that people in a growth mindset also paid attention to what they got right or wrong, but they got they paid even more attention to the mistakes that they made and the information that they could learn from those.
stakes and ass, a result of that they became better problem solvers and are more successful in the subsequent problems, and so they were either
get them they're just solving problems followed them, but some of them were paying attention to their mistakes or what surprised them and thinking about those things and others weren't. So, in your case, when you're doing podcast, you might be paying attention to us. Her prices you pay,
tension to the things that were where they may not go as well as you would like, or two things that were well verses. Other people doing the protests in on my not pay attention to those things. So yes, for some people it becomes more intuitive, but the more we can all continue to improve by becoming clear on how performers stiff
from learning and how we can get better at learning and get better getting better in whatever we do there is that I get that
That's really a good explanation, but there's also the the issue. I think of you, don't know what you don't know. So it's hard to get better at something. If you dont know what better looks like or or what mistakes look like and how to fix them. And if you don't know what what's better doesn't make any difference.
Absolutely and so there's models of
unless a really great, so in listening to other people, were fantastic at what they do.
And observing them and emulate in them is helpful. Having a coach, you know if you can, like its super, super help,
because they can. God you along the way,
Actually, we don't know what we don't know like learning from experts right like listening to this podcast at, like listeners, can get ideas about things that they didn't know. The right is then sent they need something that they should now and and and bears content that can help them see that see those things that they don't
What about time they just the amount of time spent at anything. It does seem to help right. I mean it
you if you practice the guitar,
for ten thousand hours, you're going to be better than the some one who practices for a thousand hours. Yes, absolutely if the practice is effect there, and so so. But there are some surprising things about that. So the first like ten thousand hours playing on stage, is very different than ten thousand hours on deliberate practice, but also you would think that the best violinists in the world,
what are those that spend the most hours every day, engaging in deliberate practice or on playing the violin, and that's not the case. The the the very best violinist in the world engage in deliberate practice or in the learning zone anywhere between two and five hours each day
It's not ten hours is not twelve hours and the reason is that engage
the learning zone takes a lot of mental effort and concentration and and quality is really important, not just quantity, and so it is helpful to kind of work at something and then take a break or in a rest, it actually is actually the case that these people sleep more than other people than other violinist and and the general public, and they can to also take maps because they need more rest, because a brain is working hard or in our eyes time would work
he's theories, but then he would take a break and play the violin. So I'll, alternating mental and emotional states is helpful both for learning and performing. You said you have
sums some learning strategies are they applicable to it, doesn't
what you're trying to get better at and if so, could you share some of em absolutely so, for example, experimentation is something that we sometimes try to experiment, but sometimes we confuse the goal of the experiments. Are we to be clear about? Is the experiment, the goal, the experiment to learn, or also.
Perform and sometimes we try to kind of experiment in a way that too much about making progress
killing and growing, and then that leads us into trouble, because as harder to iterate between each a tent and to change things, so we we become slower and that hurts our performance feedback is death. Is, is the most effective learning zone strategy I think in work and in life just because, where social beings so getting information from other people, you super helpful. We spoke about deliberate practice so that there is also a kind of the the in the age of the internet and artificial intelligence. Sometimes we think that knowledge is not that important, because we can always search for it or ask thee.
mitchell intelligence in engine, but is actually really how far too like develop, are integrated knowledge which I call are heiresses, because then, when we're going about life and something relevant comes up and we can bring it up at that moment,
then in a need to go into the internet to try to find out what might be relevant. Something does that to think about. Is that sometimes, when we come across relevant content, the relevant insights, we think that we're going to remember them, because we tend to overestimate how much will remember things, but it when there's something important that we think would be really useful for us to know and to be able to retrieve at any point in time. Then you know we can think about developing a system to make sure that that
weapons. So for me I find it really helpful to have like a a digital flashcard app because generating the ideas is really a much more powerful than trying to recognize them. So if you just highlight something and and read it every day, for example, is much less powerful than putting a cue that prompts you to generate
That idea from your brain and then checking whether you generated the right idea of digital flashcards are an example of a very effective learning strategy to develop our knowledge of things that we deem it
orton. But this has been really enlightening. You have explained really well that things like experience and rapidly
in doing the same thing over and over again doesn't really help you get better.
something and then there are better ways to do. It he's a speed,
and writer, and if you'd like to watch his ted ex talk, called how to get better at the things you care about. There's a linked
in a show notes annie,
author of a book called the performance parity
acts and there's a link to bad at amazon in the show notes as well proceeded,
You Eduardo, you have a one off
voice and a wonderful podcast. Thank you make for home in it.
It's always been part of the american dream to own a home to own things,
pride of ownership but perhaps
You ve noticed, that's changing. There seems
be a movement of sorts to get people to own less and feel good about it.
rent instead of own a home, and then you don't have all the hassles of dealing with repairs and things because you don't own it. There are car companies that
install seat mourners in their cars but you have to submit
I have to get them to activate the seat more mercer. They won't work, so you don't really own.
even though you may have purchased the car. There are actually
people who are advocating that we should own less and feel good about it. But that kind of
eggs, the question, if you don't own something, if you don't own your home, who does
some people are very concerned about this trend or movement or whatever. It is exactly in one of those
people who is concerned is carol. Roth she's.
worked in a variety of capacities in the corporate world and she is a best selling author, whose latest book is called you
will own nothing. I care
Welcome to something you should know, I like so
is to be with you, so
and say: I've heard a whole lot about this before and I don't like many people have this idea that the EU will owe nothing and feel good about it. So where did this start? I think
First time I stumbled ensued. The phrase you'll- oh, nothing and You'Ll- be happy was probably on twitter several years ago and as I come across things as social media, my usual reaction as ok, then
sounds a little bananas, yours,
please, since it was associated with the world economic forum, which
the littered with the business and political elite. How could this group be predicting the end of private profit
Pretty someone must have gotten as wrong that this must be out of context, and I found their video, which is still on their twitter stream, eight predictions for the world and twenty thirty,
and there it was right there with a smiling a handsome young gentlemen. The phrase.
You owe nothing and you'll be happy and
somebody who has advocated for wealth creation opportunities for everybody from more than a quarter of a century there as well
The thing that I know will be more than anything to be true and that wealth comes from ownership.
So the idea that people wouldn't
have ownership that they wouldn't have assets with the opportunity to retain
their value or to appreciate and value was very concerning to me and that set me
this journey. So do you think this is some kind of intentional organised plot to get people
to own less or is this just in all things are deaf
some things are expensive, it's easier to rent them subscribe to them rather than by them, or what something that I find
and you as relates to this concept of a new world order or new financial world order, is a disease
simply something that happens very often in history. We in the united states
then at the global centre of the financial universe, for
eighty years now, but before
our time in that position it was the british and before the british it was the dutch and
cycles change, and so it was
You are somebody who is wealthy and well connected, and you see that finally
actual stakes are shifting and you recognize these trends throughout history and then your wealthy and your powerful. You can
save yourself well, do you think
gonna change a hooker works out for me,
or you can use all of those connections are resources and get everyone together and go. We really probably need a figure something out and make sure that we come out on top that were controlling as much as possible. I don't think there is an intentional.
Push to stop on freedoms or to get people away from wealth creation. But if that something that happens in the process than that something that's ok, but so what
the benefit to these people
these new world order financial order, people.
if everybody owns nothing yet there's two important pieces to that. One,
You will owe nothing. It's not willow, nothing so that the people who are sharing this prediction don't necessarily think that their part of that group. There is nothing in there
the telling you then you'll be happy as though,
The psychological push to say
come on board. You'll love this care, free life,
the style where you'd have to worry about anything and will take care of everything because it so much easier.
If people go along with that that somebody has to force that upon you to effect this kind of change? So
give me some examples that people would recognize of of this already happening, because what we ve talked about, you alone,
nothing in the abstract, but specifically things like what so the one that stands at me them
as for my research is the housing situation and the united states
you're in a place where you many first time, homebuyers can't afford a home. Young people feel despondent about this, that they think there never going to own a home, and there are some things that have shifted pretty substantially over the last decade and a half or so
and prior to twenty ten, there was no material,
the two should our corporates investor capital in the single family, home market
now view fast forward to the end of twenty twenty two. According to core logic,
more than one in every five homes. In the united states was purchased during that year by a corporate investor, so now you have wall street compete
with the main streets for the asset. That is the biggest wealth builder for families that
house is the largest asset. Undone
their value basis on households, balance sheets across the: u S,
and so this is the way that americans is the way that they seized it
our dream. When you think of the american dream, you think of the home, and now there
taking these homes, their computer,
with you their buying them out by the tens of thousands and they're. Not
trying to fix them, love and then let you take them over and have more
a wealth appreciation opportunity there try
to wrench you the american dream and to make you feel good about it like that something you actually want to do. So that's really, I think, the sort of that
the products hip a call. You will owe nothing and if you go to the financial statements of the companies who are engaging in theirs
I'll say they're trying to sell it as convenience, and
happiness but clearly targeting the middle and working
glass and when you say market it as convenience, the it is
What renting, rather than buying, corrects besides,
real estate homeownership besides vat, how
since this you will own nothing philosophy showing up so
there are a range of ways that your life,
if getting rented back to as a subscription or a service, and I think that some people would say well, maybe some
these smaller things are more convenient near the bigger things are the things that actually impact your wealth creation, opportunity,
is but along the way you know, one of the examples is Bmw. They had a subscription service ends,
korea and some other companies have been
emulating, this and other places that basically said okay
when a pudding heater in your seat, but you don't actually own that's. So if you want the he turned on, you have to subscribe to it, which
completely insane. The mechanism is already there, but they want to continue to extract those ran on an ongoing basis from
you as though, even if you go to sell the car than the person who takes it over also,
only. He did seeds and they have to get the mechanisms and you the amount that you may pay in terms of
whether you are a group of people who own this car for heated seats, seeds far exceeds the tea, but we would probably all agree is the value of having a seeds, because they're turning it into a
subscription? I would also say that when you think of something like your, your cell phone
phone you? What is it that you actually on europe
own some glasses and plastic as a microchips, but it
you, don't have access to the operating system or you don't have access to the different apps. You can't really.
Has the page in modern society to hazard as a digital, human. Being you right now
There are two companies alphabet, the parent company, of what used to be google and apple, whose operating system
cover. Ninety nine plus per cent of not just the u S but the entire world. So you an apple for examples, been great on
the sea thus far, but they could have purse
now change or they could be bullied.
Color or sent it to a shift and if they do
side to not let you have access to that operating system. You now
have a fairly worthless brick in your hands, and it doesn't do the things that you needed to do.
Can go down the line, whether its accessing your email or
social media or payment service, but I think people have the sense that if, if companies get so big and so power,
the government supposed to step in anti trust you here to work with? You need to break this, or that would be
it's lovely, but we are in a scenario of cronyism instead of free markets and capitalism, and that's why we need to look at these companies and I am a free marketeer. You know I'm somebody who who prefers that level of comp
fishermen, but give there are only two operating systems that cover ninety nine percent of the planet. You that becomes infrastructure, that's not a free man,
get, and so I highly doubt they're going to bring those companies of the earth.
Break up anything, that's going to shift the operating system so absent that we need to have those rights protected
if you were to- and maybe people have sat down and ask those people who are controlling all this wealth and experts.
Concern, what do they say?
So you know its basic human nature. To you, don't want to consolidate powered, went to consolidate wealth. I think it really depends on the person. I think there,
people who have been so successful and who ran out of things to do
in ideas and
and they have a god complex. I think that there
other individuals who just kind of belief
their own bs that
there there here that to serve other people and what they're doing as right, good- and you know, I think, they're sort of a well this just
though, the way of the world the way that it is so I dont think its a one. Size fits all scenario, but I dont think its particularly
complicated either in its. Why we have this, this history
that rhymes, why we see the same things happen over and over again, when you look at
near the roman empire versus the united states. When you look at the changes in financial orders, when you look at the way
certain economic systems, job
work and have never worked any tat at any point in time throughout history, its because, while technique
would Gee evolves. Always human nature
remains very much constance, and so I know
people what really big
exciting reasons why things have shifted and and this new kind of technological
it is, but at the end of the day, human
Beings are human beings, they have the same flaws that they always have and probably
as well, and so these are just battles that we consistently have to fight, and yet
The way it seems to work is that it's so incremental that it kind of
goes by unnoticed, that and so p and then
you get used to the new normal and then it s just
creeps in that and then all of a sudden it you know you can't buy a house anymore. It's true, I think it's really.
If a cold when you're living in the middle of it to see. What's,
happening here. We can look back in several hundred dream
thousands of years and look at a twenty year period and go
I was a relatively short period of time and we can see the changes,
when you are living in the middle of that year, twenty years seems forever rights, big chunk of your
lifetime, so you when you
you're in the middle of a scenario. I think it's really hard to see the forest for the trees answer to notice the changes, and I also think it goes back to human nature
because the for those of us who have noticed the shifts and how
been warning about them, I think she,
these are not particularly pro active about things. They don't like to prevent things as much as they like to fix, broken things once they have already broken. In fact
I'm trying to figure out here is like. Is there like of police
the philosophy behind this or if you sit there
people down and say. Will you,
trying to make homeownership in
possible for a lot of people explain to me how that's a good thing. What would they say? I think they will tell you exactly what I reprint
from there ten kazan annual reports
oh, no, it's actually egg a good thing and makes their lives easier and care free. They don't have to worry about calling that the plumber- they can
take that money and invested elsewhere or the they don t worry about the the crazy com
in the maintenance and the property taxes. You know doing this really, for their benefit, were here to help them out
and you know it's really just under the goodness of their hard put it there
the day. It's you know it's it's about. The human nature
I agree about making money it's about, seeing it as a aid investment opportunity and not really carrying that. At the end of the day, you
that money away from a family and taking away their biggest opportunity to grow legacy, wealth and enforced
isn't leader and I come from wall street and recovering investment banker. So I've seen this happen over decades is a wall street has
big issue with short term as up that they really think in quarters to quarters, because that's how the market route rewards them
yeah? Oh, did we make this quarter? Are we growing? Nobody thinks three or five years?
down the road and I've had ceo, current former, probably traded companies tell me that, and that is bad for companies, because you they can't make these longer term strategic investments in the same way
for many of the companies, because they are penalised by the short
termism of false streets and z. I just think that that is due to an unfortunate myopia that hopefully
can bring some more attention to and- and maybe that's what needs to be re thoughts instead of some of these other and ideas that they ve been implementing,
So it's not like it's socialism or were end of private prior right.
It's more! It's not that right. It's literally that financial stakes, shifting this
it cause being disrupted drop dead. The people who are connected having to get trying to preserve what's theirs and everybody else just be
cannon fodder. Do you see that? But this argument of
you know you'll, be better off, not owning and we'll take care of everything. Is that getting traction with people it s, because the young people
I have one been trained in that way right there
then in these digital worlds, they don't have the same kind of stuff that we grew up with to begin with, the younger people are
You ve foregoing drivers, licences or getting them at a later points in time, so they ve been
trained that europe needs
things in that you know goobers always just gonna show up for you are or what knots and then
there's also, I think, some level of protection with young people because they have been saddled. You know what this insane amount of college dad this crazy transfer of wealth from young p.
Well, two colleges and and their administrators without getting an appropriate return on investment for the for their college, education's that they have these. You really do
rob didn't balance sheets and then they see how expensive homes and things like
at are out there and they don't think
the american dream is attainable as though that
we're seeing more young people saying
Basically, oh, I didn't want this anyway as protection mechanism, because they don't think they can participate.
in the american dream, the way that the gene
Duration that preceded them dead? Well, I've noticed it seems to me anyway,
especially with young people, that you hear a lot of that, you know, I don't need a car. I fine that kind of thing, but once they get a taste of it of owners,
like owning a car or that that that thing started
change. There is something magical about owning something
I guess you don't know until you own it thing out
actually what you know when you understand the freedom and the sea
weren and the wealth creation opportunities, and that you this is my domain and also when you
them it's achievable. I think a lot of these young kids have heard your victim. You can't do this everybody's against you.
And when you tell them the other said, and they step into that, may realise that then they go ok yeah I like this and I want more of it, and so I think that's that's the message. Generator
I dont want to ban everyone out, yet it that this is heavy but the elites. Maybe
You too, oh nothing, but I want people, don't everything and like it sounds like you want people to to do that as well. So, let's give them more hope.
Opportunities in and help them understand what those barriers are so that they can overcome.
and do so in a financially savvy way and really fortify that american dream
why? It just seems so strange to me be that there is an assumption that
things, or at least I thought there was an assumption that owning things can have real bad
if it dead, as you say, it's the way to wealth creation and for people to to imply
to suggest that you will own nothing and you're, really gonna, like that. It's
little beyond me, but, but here it is I've been speaking with carol.
and she is author of a book called you alone. Nothing and if you'd like to read the book,
can find it at amazon and there is a link to it in our shone out. Thank you carol, my thanks to my for taking the time
I'm not a big gum sure, but I know
but who are- and sometimes people will say you know that there are real health benefits to chewing gum well
there are some health benefits there, not profound, but they are health benefits
one thing chewing gum can slightly curb your cravings, which may help you make better eating choices in
study on average gum tours eight thirty six fewer calories. Then those people who did not u gum
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chewing gum can help keep your teeth healthy as long as its sugar less. If you choose gum,
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Transcript generated on 2023-09-05.