#739: Brené Brown and Edward O. Thorp

This episode is a two-for-one, and that’s because the podcast
recently hit its 10-year anniversary and passed one billion
downloads. To celebrate, I’ve curated some of the best of the
best—some of my favorites—from more than 700 episodes over the
last decade. I could not be more excited. The episode features
segments from episode #409 "Brené Brown — Striving versus
Self-Acceptance, Saving Marriages, and More" and episode #596
"Edward O. Thorp, A Man for All Markets — Beating Blackjack and
Roulette, Beating the Stock Market, Spotting Bernie Madoff Early,
and Knowing When Enough Is Enough."


Please enjoy!


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Timestamps:


[00:00] Start


[06:06] Notes about this supercombo format.


[07:09] Enter Brené Brown.


[07:30] Changing in a lasting, meaningful way.


[08:03] Is self-accepted complacency possible?


[10:53] My woo confession about a crux skill.


[13:06] Narcissism: the shame-based fear of being ordinary.


[14:06] Efficacy isn’t always efficient.


[15:48] Pathology as armor that can’t be discarded.


[16:28] What are you unwilling to feel?


[17:04] Discarding armor that no longer serves us.


[21:26] Curiosity as midlife’s superpower.


[22:53] There’s trauma for all of us.


[23:33] An 80/20 marriage hack.


[25:18] Decisions in a family-focused family.


[27:04] Parenting from compliance to commitment.


[29:31] Enter Edward O. Thorp.


[29:54] Edward’s background, and what drew him to apply
mathematics to gambling.


[37:04] Edward’s first blackjack trip to Vegas, reference
materials used, and his meeting with Claude Shannon at MIT.


[40:13] Edward and Claude devised a method to beat roulette using
the first wearable computer, according to MIT.


[42:16] Despite being 89, Edward looks great for his age; he
discusses his approach to staying in shape over the years.


[50:22] Edward explains how he got into finance and investing,
and the people he met along the way.


[59:25] Edward shares what convinced him that Warren Buffett
would one day be the richest man in the world after their first
meeting.


[1:03:58] Edward discusses the frameworks he would teach in an
investing seminar for modern students, including those without a
strong math aptitude.


[1:08:52] Edward shares lessons learned from investing that are
transferable to other areas of life.


[1:11:02] Edward, a long-term thinker at 89, offers advice for
those who struggle to think beyond the short-term.


[1:15:40] Edward explains how he discovered something suspicious
about the Madoff brothers’ business practices 17 years before
others caught on.


[1:24:17] Exploring mental models of externalities, the tragedy
of the commons, and fundamental attribution errors.


[1:33:32] Edward recommends reading and listening material for
those who want to enact positive change in the world, politically
or evolutionarily.


[1:38:51] Edward shares which investors, besides Warren Buffett,
impress him and why.


[1:42:52] Edward discusses how he balanced growing a business
with personal life and what led him to wind things down.


[1:47:56] Edward defines independence and shares how he spent his
time after winding down the investment side of his life.


[1:49:30] Edward shares what he’s particularly curious about
learning at the moment.


[1:51:40] Reflecting on a conversation between Joseph Heller and
Kurt Vonnegut, and other parting thoughts.


*


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Gilbert, Terry Crews, Sia, Yuval Noah
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Phelps, Bob Iger, Edward Norton, Arnold
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Grasse Tyson, Jocko Willink, Daniel Ek, Kelly
Slater, Dr. Peter Attia, Seth Godin, Howard
Marks, Dr. Brené Brown, Eric Schmidt, Michael
Lewis, Joe Gebbia, Michael Pollan, Dr. Jordan
Peterson, Vince Vaughn, Brian Koppelman, Ramit
Sethi, Dax Shepard, Tony Robbins, Jim
Dethmer, Dan Harris, Ray Dalio, Naval
Ravikant, Vitalik Buterin, Elizabeth
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