Ideas that changed my life

Morgan Housel:

Self-interest can lead people to believe and justify nearly anything. Think about businesses trying to survive competition being run by people trying to prove their career worth, and the incentive to run with the option that provides the cleanest path to the next win is huge, even when that option is something you wouldn’t accept in less-stressful circumstances. I have seen investors justify strategies and sales techniques they fiercely argued against at previous employers, coming around the moment their career depended on it. These are good, honest people. But self-interest is a freight train of persuasion. When you accept how powerful it is you become more skeptical of promotion, and more empathetic to those doing the promoting.