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"It is difficult to get a man to understand something, when his salary depends on his not understanding it."
—Upton Sinclair

Hey there,

This week at Mutiny Funds we released a podcast on Competing Time Horizons of Money with Travis Kimmel talking about the value of a liberal arts degree, SaaS treasuries, and the purpose of bonds.

If you enjoy or get value from The Interesting Times, I'd really appreciate it if you would support it by forwarding it to a friend or sharing it wherever you typically share this sort of thing - (Twitter, LinkedIn, Slack groups, etc.) You can read past editions here.

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The Best of What I've Been Consuming
It seems like maybe there are two types of happiness: happiness that is cancelled out by predictability, and happiness that isn’t.

Happiness that’s canceled out by predictability sounds like our old friend the hedonic treadmill: if your life gets better, that doesn’t improve your long-term happiness, because you just adjust.

Something like this must be sort of true - if medieval serfs had normal happiness level, modern middle-class people have so many advantages over them that you’d expect them to be delighted all the time, but this doesn’t seem right . On the other hand, the hedonic treadmill can’t be the whole story, or else there would be no advantage of being rich/healthy/popular to being poor/sick/shunned. But studies usually find that rich people tend to be happier than poor people.

Author Jonathan Haidt’s Happiness Hypothesis had a similar concept as it relates to relationships. Most romantic relationships are very high intensity in the first few months or years but over time tend to transition to a lower intensity, more ‘companionate’ intensity.



Ribbonfarm

Contra the popular advice to "surround yourself with smarter people" rather, you should surround yourself with people that are free in different ways.

The trick is to surround yourself with people who are *free* in ways you’re not. In other words, don’t surround yourself with smarter people. Surround yourself with *differently free* people.

A good way to know if someone is free in a different way is if they are able to surprise you. Once someone becomes entirely predictable to you, they are not free along a different dimension.

If I can predict what you’ll do or say, I’ll lose interest in you rapidly. If you can keep regularly surprising me in some way, forcing me to actually think in unscripted ways in order to respond, I’ll stay interested. It’s reciprocal. I suspect the people with whom I develop long-term relationships are the ones I surprise regularly.

If you optimize not for smarter people, but for differently free people then you are opting for a life that could be said to be more infinite game than finite game:

When you inhabit your own behaviors this way, you get creative. You have enough surplus attention to notice bits of reality that are *non sequiturs* in relation to the finite game you are in.

This is why dispassionate perception plus appropriate action equals freedom to keep playing: they enable you to create a space where *ways* to keep playing become visible.



Conversations with Tyler

A conversation on hiring and identifying talent. Some of the basics here but one thing that jumped out as resonating with my own experience is looking for people that understand what might be called the "meta-game" or hierarchy in which they are participating.

I think it's very important, especially in academia, but in many spheres, does that person understand which are the correct hierarchies to be climbing? And this may be influenced by my own background as a chess player. When I was quite young, I knew a lot of super talented young chess players, just brilliant people, young kids full of energy to play chess.

But they always were just stuck on the notion that winning at chess was the game they should be playing. And from Magnus Carlson, that's true. That's the game he should have been playing, and he is still. But for most of those people, if they stayed in the chess game, their lives are miserable. You know, they're now old, they don't have health insurance, they're not top players anymore.

Also, an interesting perspective on resumes not as descriptions of what people can do, but rather how they wish to be perceived.

Resumes are good for understanding how the person wants to be perceived by the broader world. And so this is helpful for both kind of obvious things like checking for typos and what not, but also what they take pride in their identity. You know, I love asking people sometimes, "Of what i see on your Linkedin your resume, what are things you are kind of trying to hide, and what do you wish you could feature more?"

As always, if you're enjoying The Interesting Times, I'd love it if you shared it with a friend (or three). You can send them here to sign up. I try to make it one of the best emails you get every week and I'm always open to feedback on how to better do that.

If you'd like to see everything I'm reading, you can follow me on Twitter or LinkedIn for articles and podcasts. I'm on Goodreads for books. Finally, if you read anything interesting this week, please hit reply and send it over!

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The Interesting Times is a short note to help you better invest your time and money in an uncertain world as well as a digest of the most interesting things I find on the internet, centered around antifragility, complex systems, investing, technology, and decision making. Past editions are available here.
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