Mental Models 104 Bear Or Bull George Mack Modern Wisdom Podcast 253


Video Creator’s Channel Chris Williamson

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  • bezos
  • musk
  • entrepreneur
  • marketing
  • mars

Whats Fascinating About Bezos Is Very Similar

to Musk in the sense that he has one guiding principle that every decision goes through so for Bezos it’s just if it can enhance the customer experience. Let’s do it rather than like profit margin it’s just long-term will this enhance the customer experience so he says this example of 10 years from now will people say to me I won slower deliveries and a higher cost. He’s like no nobody’s ever going to say that to me they’re always going to say I love the fact that it’s arrived next day. I love how cheap it is. Therefore I double down on that and then Elon Musk for as complex as an individual as he is as intelligent years and how much he understands every decision goes through will this get me nearer to Mars or not yes or no and.

Very Like Crazy How Somebodys Complex

sophisticated nuances that has just one guiding thing that shapes every single decision at the scale. They’re at the decision you have to make is just will this enhance customer experience or will this get me nearer to Mars Yes or no ladies and gentlemen welcome back. I’m joined all the way from Dubai by the man himself Mr. George Mack. How are you I’m not too bad I’m not too bad.

How Are You Im Well, How Could We

not be well On the 25th floor. This beautiful Dubai Marina apartment There’s worse places to do a podcast Isn’t it Yeah It’s a contrast to Newcastle Manchester right contrast Yeah and all Skype Yeah. The year of Zoom finished up in Dubai So Yeah not not bad big year 2020 a lot of stuff happened what’s some of the main insights that you’ve. Realized in 2020, Oh it’s a good question um I’m thinking obsessively about remote work and the effect that that has on location. I’m sure even the fact that we’re here right now.

Its Quite Quite A Good Little

a B test of that yeah, but it’s going to be very very interesting because we was saying like are you bullish or bearish on people moving particularly the Uk because the Uk has very poor weather um and for me at the minute. I’ve been thinking if I move abroad. What would the checklist be if I want to work remote as long as it has good weather good time zone and like relatively good economic social activity. What does the Uk have that that you know what I mean like the Uk for me is only viable for a few months a year, and it’s gonna be very interesting. to see how many people leave on mass or if they do leave on mass and I think as well that’s probably not just going to be for the Uk.

Everyone Thinks The Place That They

grew up unless it’s unbelievably good Yeah is probably a bit crap yeah, you know everyone’s disparaging about their hometown. Even if your hometown was dubai Marina it’s just what you’re used to it’s not cool or different anymore. So yeah I wonder whether you’re going to get mass swapping populations from different countries. I think once you’ve opened that door. Even though I do think it will pendulum will swing back to more and more office based stuff Once you’ve opened that door with some people who are going to refuse to go back.

Its Very Very Interesting Time To Be Living

through and whether because you’ve got two four processes that run. In your head you’ve got obviously a vaccine comes out Things go back to normal, but even then you potentially got B which is you have mass migration at levels You’ve never seen before I I was chatting to somebody in the property business and they said when Covey happened they expected everything to come tumbling down, but actually they had the busiest two months that they’ve ever had it was like the equivalent of a year because I’ve got this idea that I’ve been thinking about which is you have throughout childhood. You’ve kind of got very clear events You’ve got primary school You’ve got year one. You’ve got year two or grade one grade two and then you go in the Uk You’ve got GCses You’ve got a levels. You’ve got your degree but then in adulthood all you basically got is house marriage kids death.

I Think.

That’s now an event that exists so like there’s people who are like are pre–coded and then postcoded so it causes a lot of behavior change. It’s really fascinating to see well think about what the Uk is trying to do. At the moment they’ve called it a circuit breaker lockdown. Why have they called it a circuit breaker lockdown.

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Its Because Theyre Trying To Create A

jolt in the system. You know they’ve just added another little module in just a little bookmark and you’re correct people live their life in epochs. This is what I learned from Tucker Max live your life in epochs. You’re the the sports guy for you like the football freestyler as a kid. You’re the The university student you’re the young entrepreneur, You’re the young mother or father? You’re the the person who’s in a relationship and and retired somewhere But you know I mean that’s how we break our lives up when you correct maybe this is going to be one of those bookmarks in life for people yeah, Why are you totally right.

I Mean We Flew Out Here On

three days no it’s too well we just decided on like 48 hours notice got a PCr test. You drove across Manchester to get a PCR test off some guy in a pair of tracksuit Bobbins. He shoved it down my throat Yeah Yeah he did yeah He did you have to pay extra for that usually and then he did the PCr UK all right so everybody is here for mental models big pressure. One two and three were wildly successful. Online, What have you got for us today? Yeah well Rocky 4 is my favorite film So I I’m a big fan of the fourth episode of things.

I Thought Id Call Me Some Heat.

So late last night. I was reading through poor Charlie’s Almanac, which is sort of Charlie Munger’s collection of all these essays and I originally found out this thing from Ben Francis the Guy who’s the founder of Jim Shaw. I was watching one of his blogs and he said. Within this book portrays Almanac.

Theres A Less An Essay Lecture On

Coca-cola that’s like the best thing he’s ever read um and it’s sort of Charlie Munger. He says in the book afterwards that he kind of regretted doing it because nobody really understood it or it was too complex, or it was it wasn’t politically correct or whatever but when you go through. It’s like Jesus Christ so the context of this talk is Charlie basically says if you’re in 1884 and you have all the sort of base, mental models or academic principles in place and multi-millionaire. George Glotz comes along and he’s got a competition countrywide and says pitch me basically a new drinks beverage idea that if I give you two million dollars in 1884 by I think 2024 or 2034, it will be worth 2 trillion so how do you turn 2 million into I believe 2 trillion and basically Charlie says you could have predicted everything that Coca-cola did and how it succeeded by just base level mental models. So he goes through and goes like okay what’s my checklist to begin with how would I explain it to this millionaire to get investment and what’s fascinating about this is the context is Charlie owns Coca-cola.

Halfway Basically Own Coca-Cola Now So You

can tell that he’s mentally gone through this and looked at every single fundamentals of how this business is highly invested in why it’s being so effective Yeah. He basically says this is the issue of academia. They don’t teach it like this. So he said there’s five things to go through when you’re doing it so number one decide like a big no-brainer question the big no-brainer stuff number two use math to help explain the world number three inversion so think problems through reverse number four. The best wisdom is sort of elementary academic wisdom, so he comes on to like classical conditioning operant conditioning from psychology and then number five.

How Do You Get Big Lola

Poser effect where it’s all these things tied together, so he says like to begin with like for the no-brainer side of things, um we are we we’re never going to create something worth 2 trillion by selling some generic beverage. Therefore, we must make your name Coca-cola because he says that like if you called it like George Glotti’s drink right you need in order to get global appeal. You need a name that appeals globally is the first thing so this will require developing a product having universal appeal because it harnesses powerful elementary forces. The next thing he goes on to. It goes on to a few more no-brainers, but uses math to explain the world and this is one of the things I probably struggle with because maths is.

I Think The Way They Teach In

school makes you think it’s very very boring. Actually understand that Maths is the only thing that’s probably true when you really think about it um and I, I I work in obviously the D2c ecommerce space, which is blown up right now and I’ll have calls with founders each week about like how they want to scale things and everybody’s very very clear about their brand values and their brand guidelines very often and this vision that they have but nobody knows their margins. Nobody knows nobody knows their Ltv Nobody knows the scale they have to hit. Why do you think that is um twofold one I think people of some people just naturally ignore numbers from bad experiences at school and then two numbers is reality and I think we try and avoid reality where we can as well. Yeah.

I Wonder How Much Of It

perhaps is just that you can wing brand values. and marketing and creative ideas if you turn up to a meeting and you don’t know your LtV or you don’t know your bottom line. You can’t just make it up like it’s either there or it’s not that there is no in between, whereas you can turn up to a brand meeting and be like right brand values and just yeah yeah yeah create something on the spot. So I think the show notes the charlatans get found out much more with that so what’s next so on that so just just to sort of hit the the math side of things home is so he says here on average, so if we had to get to 3 trillion, we can guess reasonably. By 2034.

There Will Be About 8 Billion Beverage

consumers in the world so on the yet on the numerical fluency. He then breaks down looking. At Coca-cola’s business model so the opposite I was saying then where it’s all brand guidelines. So if he’s thinking of how do we get to 2 trillion by 2034, he breaks down the whole market so understands the total addressable market so on so on average.

Each Consumer Will Be Much More Prosperous

in real terms than the average consumer of 1884.. Each consumer is composed mostly of water and must ingest about 64 ounces of water per day. This


The year of Zoom finished up in Dubai with the man himself Mr. George Mack . Mr. Mack says Bezos is very similar to Musk in the sense that he has one guiding principle that every decision goes through so for Bezos it’s just if it can enhance the customer experience . He says he’s thinking obsessively about remote work and the effect that that that has on location. The UK is going to be very very interesting because we was saying like are you bullish or bearish on people moving particularly the Uk because the Uk has very poor we are here right now. It’s quite quite a good little a B test of that yeah, but it will be very interesting to see how people move to the UK. We’re going to see if the UK is moving to the U.S. in the future. We’ll be looking to see where people are going to go to the next generation of people moving. We’ve got a lot of the people that we’re looking forward to it….. Click here to read more and watch the full video