Interesting story about DEI washing. And "black and white thinking" is more prevalent now than ever. With nearly any big issue now, arguments have become noticeably polarised. Which in turns feeds into the extreme ends of both sides of the argument.
We're probably all guilty of this, as its the easier route. The correct approach is to come up with a theory and make every effort to disprove it. Once you've exhausted every option and it still holds true, only then do you have your answer.
I think that's the point. Even if we can clearly see how ridiculous it is to do that, it's still so easily done. Power of the brain I suppose. need to take active effort to fight against our own biases, especially as its difficult to see your own biases especially in the moment
54:40 "we still have room to go with bitcoin." Could you show that calculation? Is that based on cashflow, market position, number of customers, moat, innovation. Or something else?
Whatever number you are basing your number on, I hope you are using 2015 prices to compare. Also "that number" was supposed to be in addition to what was being already spent on the NHS, so I hope you have taken that into account to 😊
Ironic that the host has misunderstanding of electric car charging.... primarily our grid is increasingly run by renewables, especially in the UK. Electric cars are pretty conclusively greener at this point, even when manufacturing is considered.
Love when you guys get these kind of experts on the podcast! Just finished reading one of Ha-Joon Chang's books, would be amazing if you could get him on.
What I got from the 10000 hour rule is that it takes years of effort to become an expert. I never thought it meant you put in 10000 hours to become an expert. Are there people that really thought that? If that were true, everybody would be an expert in multiple subjects.
Thanks for listening and commenting! You are right: the 10,000 hours rule as stated by Gladwell is that 10,000 hours is a necessary condition to become an expert (it's not the only thing that you need), but the popular version of the rule that people circulate is that 10,000 hours is a sufficient condition to become an expert (it's all you need). Thus, part of the problem is people paraphrasing Gladwell's rule into something they want to be true. But Gladwell is far from blameless either as the evidence behind his version of the rule is very shaky: Chapter 3 of May Contain Lies goes into more detail.
Subject matter is great. But I found this guy really difficult to listen. Like ... Calm down. He's going at a million miles an hour and shouting his head off.
The fact is crypto and house prices went up at some point. The misinformation is saying, "you should buy crypto / a property because it will go up" They may go up, they may go down. You probably don't have enough significant evidence to say either way really, especially not which property/crypto at which price point at what time.
Love the pod but struggled with this episode - surely it's well established knowledge (having lots of data) is different to wisdom (analysis/interpretation of what that means)..... insert tomato/fruit salad joke here....also the guest teaches by stories but then says anecdotes should be avoided and underplays the "fishing" for patterns in large datasets can be misleading (perhaps a stats expert could have explained this better). Even T makes reference to propaganda around cigarettes in the past with no questioning later about whether the same thing is happening about Electric cars now......why would the public push politicians to change to greener fuel sources if there isn't a big market of Electric car users (of course nothing is purely green/good but harm reduction has to be promoted in someone addicted to smoking or a world addicted to oil).
You do realise car design and engineering is entirely based on government regulation and tax? The reason EVs are being pushed is because government regulation is forcing manufacturers towards it. However, outside of major cities, the EV concept simply does not work. 1) Charging infrastructure isn't sufficient 2) High cost to entry, even "cheap" EVs are 20k+ 3) Residual values are through the floor. 4) Battery design means that once the battery is dead, is more cost efficient to just buy a new one. How is that, in anyway green and sustainable? I bought my fiesta in 2016, if I bought an EV (2014 age) it would have died by now. EVs have their place, especially in built up areas. I fully support people in cities having clean air. However, to outright ban ICE engines is insane and does not take in consideration the needs of people outside of cities with heavily underfunded infrastructure.
@@cameronmmj9291what? What does regulation say about drivetrain? Nothing. Tax? Again nothing. EVs are sold everywhere and every country has different incentives… if that’s what you were referring to. Just because incentives exist doesn’t mean cars are made because of it. Many countries phased out incentives but they still sell. They do because they are better than ICE cars in almost every way. 1. Charging infrastructure is not perfect but it’s not bad, you rarely need to queue. 2. Equivalent sized EVs are cheaper overall than ice cars, there is enough data to say that. Yes, ultra compact / sub 20k cars are still not here. 3. Just as every other car, that’s what happens with new cars. But you know what… that’s how you get your sub 20k car. Somehow you don’t highlight that as a positive. 4. You’ve been reading some anti-EV nonsense to claim this. There’s an opposite evidence to your argument. Recycling infrastructure has been delayed because there just isn’t enough dead batteries to make large scale recycling worth it. Batteries aren’t dying. They degrade slower and then get put into other projects like stationary storage. We now have millions of cars that have done over 100k miles, and that’s still tech that’s only been around for a single decade. You might be taking poorly designed low volume efforts from some legacy manufacturers and applying this to the whole industry. It’s misrepresentation. I’ve been driving one for 7 years, long journeys too, and hearing this rhetoric from general public is tiring. There’s some dinosaur leftovers sitting in your brains preventing you from moving on.
Good guest, but it seemed like he was talking down to both of you. If this is his standard press, his book will not do half as well as your more likeable guests
This is the exact type of guest this show needs, rigorous information, full of knowledge, experience and well communicated. Keep it up 💪
Thanks so much Dean, I really appreciate it! Loved the interview with Damien and T.
Really good video, enjoyed it. Btw this comment is at the top for me!!
@@Kep-jd9bu it's working! 😂
😂
There won't be too many quest as knowledgeable and informative as Alex. Would love him on the show again!
What an amazing informative discussion.
Great guest Damien & T!
I found this discussion with Alex very insightful, especially in a world full of misinformation
Many thanks Marlon, appreciate it!
Excellent guest and discussion- I also fell for the 10000 hours concept - great to hear Alex talking to this bias
Alex knows his stuff, no questions stumped him 🤩👊
Thank you!
Thank you for having great sound.
love you guys, best financial learning platform
Interesting story about DEI washing. And "black and white thinking" is more prevalent now than ever. With nearly any big issue now, arguments have become noticeably polarised. Which in turns feeds into the extreme ends of both sides of the argument.
Great to hear such a logical and reasonable way of viewing the world.
Question everything to a reasonable degree, especially yourself, good mindset, great episode!
It's unscientific to come up with a theory and only look for evidence that supports it!
"Confirmation bias".
We're probably all guilty of this, as its the easier route. The correct approach is to come up with a theory and make every effort to disprove it. Once you've exhausted every option and it still holds true, only then do you have your answer.
I think that's the point. Even if we can clearly see how ridiculous it is to do that, it's still so easily done.
Power of the brain I suppose.
need to take active effort to fight against our own biases, especially as its difficult to see your own biases especially in the moment
No, it's simple deductive Vs inductive analysis. I mean, come on this is year 1 undergraduate knowledge
Works for organised religion
Damien is not a fan of LEGOLAND 🤪
Damien You have some amazing guests on your channel
Thank you! Ruth our producer does an amazing job finding great guests
It's because Damien and T are amazing hosts!
Really interesting on Brexit + politics - so true that it's good to steelman the other side.
54:40 "we still have room to go with bitcoin."
Could you show that calculation?
Is that based on cashflow, market position, number of customers, moat, innovation. Or something else?
Spending on the NHS in England alone post Brexit is actually higher than was posted on the side of that bus. Just saying
Whatever number you are basing your number on, I hope you are using 2015 prices to compare. Also "that number" was supposed to be in addition to what was being already spent on the NHS, so I hope you have taken that into account to 😊
Rishi Sunak looking well
Ironic that the host has misunderstanding of electric car charging.... primarily our grid is increasingly run by renewables, especially in the UK. Electric cars are pretty conclusively greener at this point, even when manufacturing is considered.
Informative Thought Provoking but Gruelling 😂
Love when you guys get these kind of experts on the podcast! Just finished reading one of Ha-Joon Chang's books, would be amazing if you could get him on.
"People who don't like Trump will never go to a Trump rally."
lmao
Aged well that didn’t it 🤣
Except that one guy
What I got from the 10000 hour rule is that it takes years of effort to become an expert. I never thought it meant you put in 10000 hours to become an expert. Are there people that really thought that? If that were true, everybody would be an expert in multiple subjects.
Thanks for listening and commenting! You are right: the 10,000 hours rule as stated by Gladwell is that 10,000 hours is a necessary condition to become an expert (it's not the only thing that you need), but the popular version of the rule that people circulate is that 10,000 hours is a sufficient condition to become an expert (it's all you need). Thus, part of the problem is people paraphrasing Gladwell's rule into something they want to be true. But Gladwell is far from blameless either as the evidence behind his version of the rule is very shaky: Chapter 3 of May Contain Lies goes into more detail.
T is correct about EV's
He sounds like Will from the Inbetweeners 🤣🤣
An absolute load of bollocks 😅. Another great one!
I cant imagine too many porn stars who looked at their best after 10000 hours practice !!
Mama says alligators are ornery coz they got all them teeth but no toothbrush
Medulla oblongata
It's all a load of bollocks! 😉
🤣 thank you for watching all the way to the end
@@MakingMoneyPodcast my pleasure, another fab one 🤩👊
Never thought i'd be ordering hair products. You sure you,ve not just brushed it forward a bit?
Subject matter is great. But I found this guy really difficult to listen. Like ... Calm down. He's going at a million miles an hour and shouting his head off.
I bet the guest likes sausage
It’s all a load of bollocks T!
And Damo, I love ya but don’t bad mouth the mighty Arsenal son 😂
Facts aren't misinformation. The crypto and housing examples are not good ones. If house prices went up it's not misinformation.
Sure, but how the facts are presented and how much context is given might be misinformation. I think that's what's important here.
The fact is crypto and house prices went up at some point.
The misinformation is saying, "you should buy crypto / a property because it will go up"
They may go up, they may go down. You probably don't have enough significant evidence to say either way really, especially not which property/crypto at which price point at what time.
@@IAmebAdger ok
Not sure about this post, although not watched all of it as not got 1 hr to watch it all - not the best post I've seen - just my view
Love the pod but struggled with this episode - surely it's well established knowledge (having lots of data) is different to wisdom (analysis/interpretation of what that means)..... insert tomato/fruit salad joke here....also the guest teaches by stories but then says anecdotes should be avoided and underplays the "fishing" for patterns in large datasets can be misleading (perhaps a stats expert could have explained this better). Even T makes reference to propaganda around cigarettes in the past with no questioning later about whether the same thing is happening about Electric cars now......why would the public push politicians to change to greener fuel sources if there isn't a big market of Electric car users (of course nothing is purely green/good but harm reduction has to be promoted in someone addicted to smoking or a world addicted to oil).
T has some proper EV hate. Making a case that EVs are genuinely bad and governments are just pushing them onto us was cringe to watch
You do realise car design and engineering is entirely based on government regulation and tax?
The reason EVs are being pushed is because government regulation is forcing manufacturers towards it. However, outside of major cities, the EV concept simply does not work.
1) Charging infrastructure isn't sufficient
2) High cost to entry, even "cheap" EVs are 20k+
3) Residual values are through the floor.
4) Battery design means that once the battery is dead, is more cost efficient to just buy a new one. How is that, in anyway green and sustainable? I bought my fiesta in 2016, if I bought an EV (2014 age) it would have died by now.
EVs have their place, especially in built up areas. I fully support people in cities having clean air. However, to outright ban ICE engines is insane and does not take in consideration the needs of people outside of cities with heavily underfunded infrastructure.
@@cameronmmj9291what? What does regulation say about drivetrain? Nothing. Tax? Again nothing. EVs are sold everywhere and every country has different incentives… if that’s what you were referring to. Just because incentives exist doesn’t mean cars are made because of it. Many countries phased out incentives but they still sell. They do because they are better than ICE cars in almost every way.
1. Charging infrastructure is not perfect but it’s not bad, you rarely need to queue.
2. Equivalent sized EVs are cheaper overall than ice cars, there is enough data to say that. Yes, ultra compact / sub 20k cars are still not here.
3. Just as every other car, that’s what happens with new cars. But you know what… that’s how you get your sub 20k car. Somehow you don’t highlight that as a positive.
4. You’ve been reading some anti-EV nonsense to claim this. There’s an opposite evidence to your argument. Recycling infrastructure has been delayed because there just isn’t enough dead batteries to make large scale recycling worth it. Batteries aren’t dying. They degrade slower and then get put into other projects like stationary storage. We now have millions of cars that have done over 100k miles, and that’s still tech that’s only been around for a single decade. You might be taking poorly designed low volume efforts from some legacy manufacturers and applying this to the whole industry. It’s misrepresentation. I’ve been driving one for 7 years, long journeys too, and hearing this rhetoric from general public is tiring. There’s some dinosaur leftovers sitting in your brains preventing you from moving on.
Good guest, but it seemed like he was talking down to both of you. If this is his standard press, his book will not do half as well as your more likeable guests