Full transcript
0:00hi everyone SEM opens here and in
0:03today's video I'm going to give you the
0:06keyword to shiny object syndrome now if
0:10you don't know what shiny object
0:11syndrome is it basically goes like this
0:13so you know what you need to do and
0:16that's very obvious but you don't really
0:20want to do what you need to do and so
0:22you go to Facebook or Instagram or any
0:24other social media platform and you just
0:26start scrolling and you're basically
0:28looking for something that makes you
0:30salivate or really just emotionally
0:34influences you so much to the point that
0:37it takes you out of your current reality
0:38that's probably not very good and takes
0:41you to some fantasy land where
0:43everything's amazing and everything goes
0:46awesome and you feel really good but and
0:50of course you get that through like
0:52buying something or trying something new
0:54or basically doing anything that isn't
0:57the shitty thing that you know you need
0:59to do right now so of course because it
1:01feels so good and it makes us forget
1:04about what we need to do we're like this
1:06is it
1:06this is I have found God and you know
1:11whatever this object is some new piece
1:14of technology some new strategy some new
1:17methods some new books some new freaking
1:20anything right just anything that isn't
1:22just the simple mundane thing that you
1:24absolutely know is the thing you need to
1:26do but one of these shiny object so then
1:30you do that thing but then it turns out
1:32to just basically bring you right back
1:35to the thing you needed to do anyway and
1:38then this loop repeats because now
1:41you've tried out the shiny object all of
1:44its emotional dopamine causing my
1:48attributes have faded out you've now
1:49like become immune to this objects
1:52shininess and now it looks the same as
1:55the other shitty object that you had
1:57which was the thing that you had to do
1:59and so you come back and you confront
2:02this thing anyway and you still have to
2:04do it but you don't want to so you go
2:06back onto your social media and you just
2:08keep having a feed they literally even
2:11call it a feed because you're basically
2:13like
2:13battery Hin just in some cage with like
2:17a like a intravenous pipe coming
2:20straight into your mouth just being fit
2:23information containing shiny objects and
2:26so then you spot another one same thing
2:30repeats you like the feeling makes you
2:32forget about the reality which is kind
2:34of [ __ ] and wave happens again you
2:38become immune to it it looks just like
2:40every other object cycle repeats life
2:43ends and you're like oh [ __ ]
2:45so that's shiny object syndrome and
2:48basically everyone has it it's actually
2:52rare to find somebody who doesn't have
2:53it and in this video I'm going to show
2:56you how to not have it so let's get
2:58started so I basically got my 9 things
3:08and the first one now is to invert
3:19philosophy so it all really begins with
3:25philosophy like everything and if you
3:29want to see cool this is kind of off
3:31topic but if you want to see something
3:33cool go to Wikipedia and find anything
3:35on Wikipedia I don't care if it's a damn
3:37armadillo or like like just something to
3:40do with Russia or just anything right
3:42any page on Wikipedia and click the
3:45second link in each description and just
3:49keep clicking the second link in every
3:51single description and just see where it
3:53takes you and I know where it'll take
3:55you you'll end up on one page
3:56philosophy doesn't matter where you go
3:59in the Wikipedia tree you're going to
4:02land in philosophy that's the root of
4:04everything so of course we're going to
4:08begin with philosophy because everything
4:11starts from there and really when you
4:14want to stop suffering with shiny object
4:18syndrome you need to invert your
4:19philosophy because most people live with
4:21this philosophy that new is good and
4:27old is bad and if it's like really
4:32popular it's good and if pretty much
4:35everyone knows about it and it's not
4:36that high pity it's bad right that's
4:39what most people live with there's very
4:41very simple istic way of saying it but
4:44you basically want to turn that thing
4:45upside down you want to think new is bad
4:48and you want to think that old is good
4:52and you also want to think that popular
4:56is dangerous and most probably wrong and
5:00unpopular is like probably good right
5:05it all starts by inverting your
5:07philosophy and really a lot of people
5:09think that what we do defines us and
5:13what like we as a person do defines us
5:16in what we as a company do defines us
5:18now success and all of these things but
5:20the inverse of this would be what we
5:23don't do defines us more than what we do
5:27and what we don't do as a company more
5:30defines us and more influences our
5:32success than what we do do and if you
5:35want like two examples of this like
5:37real-life case studies well one is like
5:40in-and-out burger right so it's a like a
5:43fast-food chain right they only have
5:46like a meat burger and I'm pretty sure
5:47they only make it with one petty two
5:49pennies or three that's it and then
5:51they've got some fries that's all they
5:53have they don't spend any money on
5:54advertising their advertising budget is
5:56and forever will be zero and they are
6:00like probably the strongest fast-food
6:02chain in America so they make a lot of
6:05money they've always made a lot of money
6:07and people still go to them they don't
6:10advertise at all and they also have
6:12survived through our many recessions now
6:16McDonald's on the other hand it started
6:18with this playbook it only had like a
6:21meat patty burger and some fries and
6:24that was basically it and it was very
6:27popular and always was successful but
6:29then some person with shiny objects and
6:32drone were multiple people with it came
6:34in and started screwing with things and
6:36they started adding lots of crap to the
6:38menu right shiny objects
6:40then of course they were like let's add
6:42a cafe to our menu because all of these
6:44people eating all of these burgers would
6:45love a coffee and McDonald's brand
6:48really goes with some coffee and a salad
6:50why not you know and they just kept
6:53adding crap and basically now they're in
6:55a lot of trouble and they forgot what
6:58got them there but in an out burger used
7:01what got McDonald's to where they were
7:03to get them there and then they didn't
7:05forget about it they still kept it and
7:06so they've basically defeated McDonald's
7:08with their own playbook which is kind of
7:10interesting in another company is like
7:14B&H photo video I find this one
7:16fascinating it's a it's a physical store
7:19in Manhattan but it's also an online
7:21store and it's where everyone goes to
7:23buy photography equipment even online
7:26even in the days where Amazon exists
7:29like to find a category such as
7:31technology where the business doesn't
7:33own the merchandise that they're selling
7:35so they're just oh they're basically
7:37like a platform for selling other
7:39people's goods right basically none of
7:43those platforms can exist and win
7:45against Amazon it's like game over the
7:47only way you really can have competitive
7:49advantage against Amazon is if you sell
7:51your own things because Emma's own can't
7:53compete because they can't sell your
7:55thing but they'll still probably like
7:57knock it off or do something right so to
8:00find a category where a business beats
8:03Amazon today online and offline and in a
8:08category where they don't sell their own
8:10stuff B&H photo video is an amazing case
8:12study of this their one store and they
8:15sell over 1.2 billion dollars a year and
8:18get this they're closed on Saturdays not
8:21only the store but the bloody website -
8:25who closes their website but they do it
8:28because it's they're like faith or
8:30something they're Jewish or something I
8:31think they closed on Saturday or Sunday
8:33one of those days and you know they they
8:36don't do that but you know the whole
8:38philosophy is you should be open all the
8:40time always but by not doing some things
8:44you know B&H is really same with
8:46in-n-out burger have really like that
8:49what they don't do is it creates
8:54things that other people talk about
8:55which is their marketing so if I not
8:57doing something they're actually doing
8:59something and it's more powerful than
9:02the actions that other companies are
9:04doing so you've got to think about it a
9:06bit different sometimes not doing
9:07something makes more of a statement than
9:09doing it and sometimes not doing
9:10something is more potent and more
9:12powerful than doing something a lot kind
9:15of interesting that's where we begin
9:17philosophy number two is you want to
9:21take your finger like off the trigger
9:23right and you want to stop emotionally
9:27and impulsively like shooting people and
9:30I'll explain what I mean you know yeah
9:39so most people just reading my note so
9:47most people you know they've basically
9:49got their finger on the trigger and it's
9:51loaded and it's cocked as it's ready so
9:54the moment anything comes out and it
9:56kind of like affects them then BAM it's
9:58already gone before they can even think
10:00about it like should I pull the trigger
10:01like is this the thing that I should
10:04shoot or should not shoot it is this a
10:06civilian right they basically just fire
10:09that's what most people are like this is
10:11like impulsiveness right and to do that
10:15you need to do something that is
10:19life-changing quite honestly the moment
10:22I could do this as bait the moment that
10:24like I really everything changed and
10:28what you need to be able to do is take
10:31yourself from within your thoughts and
10:35within your emotions and you need to
10:37like break yourself off and view
10:38yourself from like the third-person so
10:42you can do this when you're not in an
10:44intense situation and you'll probably be
10:46able to do it it's another thing to do
10:47it when you're in the middle of some
10:48heat right but imagine yourself right
10:51now just in the third person so like you
10:54I'm sure you've played a video game
10:55before and you you're looking down at
10:59like this person you're behind them and
11:00you can basically control them and make
11:02them go where you want them to go right
11:04so if you can view yourself like they're
11:07in your
11:07situation and then you ask yourself hey
11:09what is what am I like thinking what am
11:12I feeling and if there's a strange
11:15thought pattern that happens starts like
11:17catch it and then trace it back up the
11:19tree and be like wait how the hell did I
11:21get here
11:22well that caused that that caused that
11:24caused that and then dismiss it and
11:26basically cut off the branch of that
11:28thought and then you start to be able to
11:30like control yourself as if you were
11:32separate from yourself right this is
11:34this takes some skill and some practice
11:36it's one thing to do it in a calm
11:38situation it's another thing to do it in
11:40the middle of pressure and fear and
11:43anxiety and like impulsive kind of
11:47intense emotion but when you're like
11:50going through your feed or when you're
11:52talking to people or when you're just
11:54living and going through life right
11:56things happen like someone might come to
11:58you and just start really hyping
11:59something up to you and making it sound
12:02like this thing is the most amazing
12:03thing ever
12:04and if you're really impulsive you're
12:06just like be you'll just think I'm doing
12:10this now I don't care about anything I'm
12:12just gonna do this right that's like
12:14very impulsive behavior and what you
12:17want to do is just when you feel those
12:19emotions and thoughts going through head
12:22you want to stop
12:23don't act what if you do don't pull the
12:26trigger and then just view yourself from
12:28the third-person and think like is this
12:31the right thing to do like I know where
12:33I'm trying to go in the long-term is
12:34this decision the right thing to do now
12:37you'll find when you can remove yourself
12:39from yourself you're a lot more
12:41objective right and this is a great way
12:45to stop yourself from going down rabbit
12:49holes or making dumb decisions or being
12:51impulsive or basically you know buying
12:55or doing a shiny object right
12:58now the third one is to slow the [ __ ]
13:05down
13:07and what you need to understand is that
13:11business isn't like for most businesses
13:13and most entrepreneurs this isn't a
13:16high-frequency like trading kind of
13:19thing right it's not about who can be
13:23the most reactive to all of the stimuli
13:25in the market in real time every second
13:29in every moment of every day that person
13:31is not going to win the like the
13:33long-term business game right now that
13:36person might have a chance at like some
13:38high-frequency day trading stuff but not
13:41in like most businesses right and really
13:44the way to the make the way to move fast
13:47is to move slow this is kind of
13:49inverting this philosophy again and this
13:53really changed me a lot when I learned
13:55this but I realized that with some time
13:58and often it takes some time to accrue
14:00before you realize that all of these
14:02fast rapid decisions you made were
14:03really stupid with some time you start
14:06to live with the consequences of your
14:08actions and your decisions that you made
14:10a year ago or whatever and you start to
14:12realize there's a pattern to all of this
14:14and there a lot of these things that are
14:17ruining your life right now and ruining
14:19your business and really just sucking
14:22badly they're the byproducts of these
14:27decisions you made in a hurry without
14:29really thinking things through right and
14:32so of course it sounds like a lot of you
14:36might think that if you're in business
14:37or whatever that you should make
14:39decisions rapidly and move through
14:41everything rapidly right but really you
14:44want to slow down a bit and you want to
14:46limit the number of decisions you have
14:48to make because then you can think about
14:50them more carefully right so you want to
14:52do less stuff and you want to simplify
14:55the hell out of your life in your
14:56business and everything and then you
14:58really want to take your finger off the
14:59trigger view yourself objectively in the
15:02third person and just slow down like
15:06take some time to make some decisions
15:08right especially if these decisions are
15:11going to be hard to undo or cause some
15:14downstream effects in the second third
15:17fourth order what you really want to
15:20to be a bit slower with those and I
15:22often find that taking a few days to let
15:25it to let major decisions kind of sit
15:28Cecil and just see whether what I should
15:30do helps a lot I try I used to make
15:34impulsive decisions all the time with my
15:36business because I just thought that's
15:37what you do that's how you scale but
15:38then I saw what that did and then I
15:41realized like hmm I actually would have
15:44moved a lot faster and I'd be much more
15:46successful and much further ahead if I
15:49take going a bit slower back there right
15:51so slow down now this doesn't mean
15:57paralyze yourself into just lie in bed
16:00anxious and never make a decision right
16:02it just means slow down so instead of
16:05making a decision in five seconds or
16:08immediately or within 10 minutes like
16:11even if you know what you're going to do
16:14right just still give yourself like 24
16:17to 48 hours right you can write down
16:19your argument for why you should do it
16:21away shouldn't do it and then even if
16:24you're certain that's it just put it on
16:26a piece of paper and just leave it for
16:2724 to 48 hours then come back and read
16:30it through I guarantee you you'll be
16:32amazed at how many times that you look
16:34at it you're like what was I thinking
16:35because your emotions are wavy and they
16:39really affect your decision-making and
16:42even when you think something has a
16:44sound logical argument when you look at
16:47it in like 24 to 48 hours you realize
16:50that you're insane all right so that's a
16:52good one now the fourth one is lit
16:59universe scream at you
17:08what's that well this is a cool one and
17:14when you hear about something right most
17:17people they've got a billion like to-do
17:20lists and they've all got all of these
17:22notes and everything and they're
17:23constantly writing down things they need
17:25to do like someone just mentions
17:26something once probably by accident and
17:28someone's like I knew it I knew I need
17:30to do that well I see this in like all
17:32the time in my industry just kind of
17:34said and kind of makes me not even want
17:36to be in it but people like they see or
17:41hear one person talk about one thing
17:43once with no evidence and not even any
17:45argument and then they like I'm doing
17:47that like chatbots doing it Facebook
17:50it's doing it okay like we need this
17:52video let's do it like events do it like
17:54book could do it is like they just like
17:56live chat on our website do it pop ups
17:59like they just do everything even if
18:01they hear it once it's craziness right
18:04and remember that what we don't do more
18:06defines us than what we do do and
18:09sometimes not doing something makes more
18:11of a statement and makes more like of an
18:16effect than doing something a lot so
18:20make the universe screaming you what
18:22does it mean well instead of like
18:24writing down everything that you ever
18:28told or ever see or ever think about try
18:31just not writing it down like if you
18:35really need to do something like you
18:36know pick up someone like tomorrow at 3
18:38o'clock or if you need to like you know
18:41pay rent this time or pay bill write
18:44those things you should still ever to-do
18:46list for because you we know we need to
18:48do those ones ok but I'm talking more
18:50about like ideas about what you're going
18:52to do so like should I do this funnel
18:55should I do this type of website should
18:57I start this business or should I change
19:00my product on my service or my pricing
19:02or should I make some other kind of
19:04change that isn't a to-do list item that
19:06needs to be done don't write those ones
19:09down like just try this out I see people
19:12all the time they ask me like at my
19:14events and things they're like Sam what
19:16do you use for writing down all your
19:17ideas that I might do
19:18write them down I just let it go because
19:21the truth is is that if something's
19:25really important it will keep popping up
19:28it'll keep coming back it'll keep
19:30popping up and it will start to get
19:32angry and it will be like the universe
19:35will basically start to scream at you
19:37right in front of your face that you
19:39need to do this thing and when it does
19:41that do it that's how I basically keep
19:45it to do list of things I basically wait
19:49until I came aware of a lot of these
19:51things like that I should do or I'm
19:52contemplating doing but I typically
19:55don't get around to doing it unless it's
19:57just screaming at me because at that
19:59point I know that it's something I
20:01should do right but and a lot of the
20:04time those things I do they're they turn
20:06out to be very wise decisions and they
20:08come right at the right time but when I
20:11do something like prematurely and it's
20:13because I really just got one tiny
20:17signal that wasn't even a signal and I
20:18did it anyway it turned out to Spade
20:21take a lot of time and it was perceived
20:23as totally useless by basically
20:25everybody right so it was just a waste
20:27of time so just let the universe scream
20:30at you when it's not things like you
20:32know pick someone up or go to this
20:35appointment or whatever those things
20:36they're time sensitive in their events
20:39but these initiatives lit your to-do
20:42lists sort itself through like it coming
20:46at you right this is especially true for
20:48like changing your products like your
20:51customers might say all sorts of things
20:53like all you should add this feature or
20:54you should change this so you should do
20:56this and people that reacts to those
20:58singular instances they build a
21:00Frankenstein [ __ ] spaceship product
21:03that nobody wants because they basically
21:07it's just a random collection of crap
21:09that people didn't mean and then they're
21:11like I didn't want that sorry I don't
21:12want that and that sucks so that you
21:15shouldn't be reactive to all of these
21:17things and singular instances but the
21:19things that everyone is saying
21:21repetitively at louder and louder
21:23volumes at shorter and shorter intervals
21:25like more and more frequently these
21:28things are the things you should
21:30probably do and that's what makes a
21:32great
21:32product not doing things that aren't
21:35important and doing the things that are
21:38important right
21:39often people let the trivial meaningless
21:41useless thing no one wants take priority
21:44over the thing everyone wants because
21:46they're just they've got a list of a
21:49thousand things and this one was first
21:51on that list and really the thousand
21:53thing on the list is what users want the
21:55most but yeah so let the universe
21:58screaming five is to distance yourself
22:04from the hype distance from hype so what
22:13do I mean by this
22:14well hype is a dangerous thing
22:17I personally despise it and it's
22:21basically like a bubble or an echo
22:23chamber or basically just a collection
22:26or group of people that repeat these
22:29same things to each other and use each
22:32other's like agreeance with this
22:34statement as feedback and further
22:36evidence that what they are thinking and
22:38doing is more right than what they
22:40thought and it feeds back onto the other
22:42person then they're in this incestuous
22:45psychotic relationship and it grows
22:48exponential until then that's how we get
22:51a bubble right lie and then there's
22:54always a collapse whenever there's
22:56something that goes like that there is
22:57always something coming and this is
23:01especially true just think of something
23:03recently like Bitcoin right I swear I no
23:06matter what I did I did this Bitcoin was
23:08just coming at me I got an uber and some
23:10guy was talking about Bitcoin you get
23:12out on the streets and people are
23:13talking about Bitcoin you ever hear
23:14people talking about Bitcoin bitcoins
23:17bloody everywhere you you just go on the
23:19internet and try not to find any Bitcoin
23:21in it's everywhere even my staff were
23:23talking about Bitcoin it was everywhere
23:25and I had to try really hard to like not
23:29get involved in this whole Bitcoin
23:31nonsense right and so you have to
23:34distance yourself from the hype and be
23:36weary of it but sometimes you can do
23:39this like physically so Warren Buffett's
23:42a perfect example Warren Buffett has his
23:46offer
23:46in Omaha and that's like in the middle
23:49of nowhere right
23:50you would think Warren Buffett okay that
23:52guy's in business so he might be in New
23:54York or he might be in Silicon Valley or
23:58something right surely you want to be
23:59where all the action is no and when you
24:02when people have asked Buffett why he
24:03chose there he says he wants to be out
24:06of the noise he says he wants to be out
24:08of the chaos because when you're in the
24:11hyper machine you're susceptible to
24:13groupthink and extremely popular
24:17delusions and the madness of the crowd
24:19right and this is a bad thing like quite
24:22often the best investors are the one
24:24that are the ones that are outsiders and
24:26they have unconventional thinking and
24:28they're contrarians and that requires
24:31discipline and it requires being
24:33separate from the hype and so this is
24:37the exact reason why Peter Thiel left
24:39Silicon Valley and moved to LA as well
24:42and so when I was making a decision
24:45about where I was going to live I was
24:46like New York's too intense San
24:49Francisco it has been basically like
24:51it's gone well past its curve I mean
24:54since Silicon Valley was popular in its
24:58in its infancy because it was cheap and
25:01counterculture and it had a diverse
25:03range of opinions and beliefs and now
25:06it's the most expensive place ever and
25:08it's it's got it's an echo chamber
25:13everyone she's the exact same opinion
25:16and if you speak out against that though
25:17I bite your head off so it's the it's
25:20become the inverse of what it once was
25:21yet everyone still believes it is what
25:24it has been which is kind of crazy so
25:27that's why I chose LA but not only LA
25:29but El Segundo because it's cheap there
25:31and it's still close enough to these hot
25:34places like LA and San Francisco to get
25:36good talent and it's got a good climate
25:39and it's so it's got these things that's
25:42close enough to these things to be able
25:44to get the benefits but it's not within
25:46these things so it doesn't get the cons
25:48it has like Florida prices in California
25:53yet and it's probably more a better
25:56location for employees than the main
25:59city hubs and your rent is probably
26:01going to be like quite actually probably
26:03six times less then San Francisco or
26:06Santa Monica LA or something so distance
26:10from the hype very important now six
26:16regain your sanity now quite often when
26:24I'm thinking about doing something that
26:27is like a related to a shiny object
26:30I feel very impulsive and I feel like
26:33I'm about to pull the trigger on
26:34something and I'm like alright this I've
26:37been here before this is a dangerous
26:39place so I take my finger off the
26:41trigger and then I view it objectively
26:45and sometimes I'm not even able to view
26:47it objectively
26:47if I can't if I try to go out there in
26:50that third person and view myself like
26:52that if I failed to do that I just get
26:54sucked back into the intensity of the
26:55moment then I know that I am probably
27:00sleep-deprived
27:01or these emotions and is so intense that
27:04I definitely need to get out right so we
27:09in it you want to regain your sanity
27:11nothing beats that nothing is better for
27:14regaining Senate even sleep if you sleep
27:16deprived yourself you'll actually go a
27:18bit crazy and your intelligence gets
27:21reduced significantly so giving like
27:25eight hours of sleep or taking a day off
27:27like I take one day off a week on Sunday
27:30and I would work that day if I actually
27:33thought I'd be more productive and get
27:34more stuff done but I find one day off a
27:36week makes me more objective about what
27:38I should do because it's not so much a
27:41game of doing and doing the most it's
27:45more a game of doing the right things
27:47well so that one day off helps me like
27:50regain clarity and objectivity about
27:54what I should do it does take some time
27:56away so it probably reduces my overall
27:59ability to do but my choice of what to
28:01do is more of a force multiplier on this
28:05equation then the linear like additive
28:10of just more time input right
28:12like it's I can grater in a can more I
28:16can influence the outcome of this in a
28:20much more powerful way by still working
28:23hard but taking one day off to make sure
28:26my choices of what I'm doing I'm more
28:28objective and more clear right and also
28:30taking a vacation that can help a lot so
28:32I take about seven days off every 90
28:36days and I align it with q1 q2 q3 q4
28:39that's a great way to do it so I'm
28:41basically doing like Sprint's of 90 days
28:43in business and I planned initiatives
28:45for each quarter and for each year and
28:47then I take seven days off it's also
28:49very good if you work long hours and you
28:51want to and you want to like have a wife
28:55that isn't angry at you then it's also
28:57very helpful now what else have we got
29:00seven cross-pollinate your sources so
29:10most people they belong to like one
29:14incestuous community right
29:17they might join like some cult or what
29:22might be called a community and then
29:24they are so like sucked into all of
29:28these this this belief system in these
29:30people that they're surrounding
29:31themselves with and they don't realize
29:33that the reason why that they they think
29:35it's the right thing to do is because
29:36everyone in there thinks it's the right
29:38thing to do and that anyone who doesn't
29:40think it's the right thing to do will
29:41get kicked out so they fully just forget
29:43that one and then they basically just
29:45think that's just the way it is and they
29:47get sucked in and they start becoming
29:51crazy basically like this typically
29:53happens and cults but really any
29:55community is still a cult it's still
29:57like a religion if we think of what a
29:58religion is it's basically like some
30:00central thesis or book or something and
30:03some core principles that together
30:07create some philosophy and worldview and
30:09people like to adopt it right that's
30:12basically what a religion is or a cult
30:14is or what any community or anything is
30:16so you want to make sure that you belong
30:20to these things but cross pollinate them
30:22right don't just go to one
30:25because this is how you get like this is
30:28how you get real crazy
30:29and make some bad decisions and start
30:31getting sucked in by shiny objects so if
30:34you're like I see this badly in like
30:35digital marketing and funnel people and
30:38all of these like they get so sucked
30:40into marketing that they think the only
30:41thing that matters is marketing right
30:43and that's kind of crazy and you even
30:47see the marketing marketing about like
30:50like they've got a course on marketing
30:52and then they're marketing about the
30:54marketing that talks about the marketing
30:56and you can see this doing some strange
30:57things right and really you want to
31:00that's the sort of like insist kind of
31:04like mutated child of like a of
31:09groupthink basically so it's it's all
31:13very well to belong to different
31:14communities but go to different ones and
31:17try going try visiting some did a fire
31:19outside of your space so I really like I
31:22still need to learn about marketing and
31:25things like this in digital marketing
31:26right but I also like to learn about
31:30like computer science or engineering
31:32even civil engineering and software
31:34engineering I also like to learn about
31:36statistics and data science is something
31:40I like learning a lot about and then
31:42also finance and mergers and
31:44acquisitions tax structuring accounting
31:48a hostile takeovers and the stock market
31:51philosophy all sorts of different things
31:55and I like looking at different eras and
31:56time I like to get a nice mixture of
32:00things right and at first it seems like
32:03this mixture is strange and probably
32:06like the whole world seems to think that
32:09you should just do one thing only never
32:11ever do anything that isn't there but
32:13you know really if we think of what
32:15specialization is it's more you it's
32:18basically learning more and more about
32:21less and less until you know everything
32:23about nothing
32:24that's specialization right and so you
32:27don't want to do that you want to cross
32:29pollinate some things make some unique
32:31mixtures because that's where creativity
32:33really begins then eight
32:38out of sight out of mind this is a great
32:47simple method and you know if we can't
32:52see something we don't know about it at
32:53all then it's not really going to affect
32:55us right that's a really great way to
32:58deal with shiny object syndrome so if
33:02you don't go on Facebook and scroll
33:03through your feed or if you go to
33:05Facebook but you use a newsfeed killer
33:07right or if you delete the facebook
33:09mobile app off your phone and you delete
33:10all the apps off your phone you want to
33:13really take all of these places like
33:15think of all the shiny objects you've
33:16ever been screwed over by and then think
33:19where the hell did I discover this shiny
33:21object and it'll probably be able to
33:23trace it back to social media and
33:24looking at other people and being
33:26envious and having fun more about their
33:27their life that was artificially made to
33:31look good so that you got sucked in and
33:33then you realize that it wasn't what it
33:35was and it wasn't even what they were
33:37saying that it was and everyone
33:39basically got screwed and wasted a bunch
33:40of time and money and just had to resort
33:42back to the basics right so think of
33:44everywhere where that's ever happened
33:47and trace it back to where the hell did
33:48you that source come from start getting
33:51rid of those sources right and out of
33:55sight out of mind it's a great way to
33:57like I don't watch the news I don't lie
33:59I'm not on anyone's email list I don't
34:01follow anybody and I don't really go to
34:04any conferences or events and I
34:07basically just stay the hell out of all
34:09of these places where there's a lot of
34:11shiny objects and hype and groupthink
34:13and I try to just watch things from a
34:15little bit of a distance right and when
34:18something is I'm pretty when I'm quite
34:19objectively sure that something is the
34:21right thing to do I'll do it and I'll do
34:23it pretty [ __ ] intensely but and I'll
34:26probably do it to the end right I'll
34:28really do it when I find something that
34:31really works I will just unleash hell on
34:34it but I'm very selective and slow about
34:37the things that I will do and so I tend
34:41to watch things from a distance and only
34:42when I know it's the right thing to do
34:44I'll just unleash on it but I barely do
34:47anything which is kind of like that's
34:50how I have the energy and
34:51sources and focus to do that when I find
34:54the thing so that's a like a way that
34:57you can reduce shiny object miss if
35:02that's even a thing by getting it out of
35:04sight and in the ninth one which is our
35:07final one today is focus on value
35:13now when assessing something you always
35:16want to think like what is the value so
35:18this was pretty simple like in the book
35:22by Benjamin Graham called the
35:25intelligent investor which is like the
35:26book that inspired like Warren Buffett
35:28and being a Warren Buffett was actually
35:31in Benjamin Graham's class at college
35:33he's influenced him so much he even sees
35:36this like openly and publicly that you
35:37know this is where our Warren Buffett
35:39lenders paradigm in his world view this
35:41even influenced like if you read
35:44Amazon's leaders to shareholders by
35:47Bezos or Google's leaders to
35:49shareholders by Larry and Sergey they
35:51even state clearly that Benjamin Graham
35:54created their financial will view and
35:56Benjamin Graham basically believes in
35:59value investing and here's a powerful
36:02statement that I'll never forget where
36:03he says that in the short term the
36:06market is a voting machine but in the
36:09long term the market is a weighing
36:11machine and what he means by that is in
36:13the short term things will always swing
36:16with popularity and fashion right
36:19opinion basically perception like
36:22everyone thinks this is the thing to do
36:23or this is the hot thing and then it
36:25creates all this hype and then that
36:27creates more hype right but then
36:29eventually like so in the short term if
36:32you are only planning to make a short
36:34term win then you should absolutely play
36:36with this hype thing but long term it's
36:39always weighing and everybody and every
36:42company and everything will always get
36:44weighed
36:45it's just an even ball and what you want
36:48to think is how do I build something or
36:51how do I become someone that wants to be
36:55weighed not voted Wade because these are
37:00very different things if you're somebody
37:02that wants to be voted then you're very
37:04short too
37:05optimized you want to win based on
37:07perception and based on what others
37:09think and believe and you're basically
37:12manipulating this warped kind of like
37:15abstraction that isn't real but that
37:17people think is real which at that time
37:20is real but will later become not real
37:24and they'll weigh you and see what it
37:26really is and then you'll be [ __ ]
37:28right so that it happens to companies
37:30all the time it happened to Bitcoin it
37:31happens to basically every bubble in the
37:33world ever and every great delusion like
37:36thira nos and her big whatever you call
37:40that scam whatever and so if you look at
37:44these the common pattern is that these
37:45people focused on perception but if you
37:49look at cases where they've built really
37:50great long-lasting value often the
37:53perception in the beginning was bad and
37:55people thought hey this is like stupid
37:56and people they got ridiculed and they
37:59didn't care they just knew that they
38:01would get weighed eventually and so when
38:03you're making a decision focus on value
38:05think in the long term how will this be
38:08weighed don't think in the short-term is
38:11this hot or nitrous is fashionable is
38:14this a trend don't think about their
38:15crap just think how is this going to get
38:17weighed and make your decisions based on
38:19what it's going to be when it's weighed
38:22focus on value so that's it for date
38:25today's video how to not get screwed
38:26over by shiny objects by one inverting
38:30your philosophy to finger off the
38:31trigger three slow down fall at the
38:34universe scream at you 5 distance from
38:37hype 6 regain your sanity 7
38:40cross-pollinate sources 8 out of sight
38:43out of mind and 9 focus on value and
38:45weighing things so then it's it for
38:48today's video if you liked it click that
38:50like button and then click that
38:51subscribe button because I release the
38:54video like this once a week on a Tuesday
38:56and if you like this one you'll probably
38:57like some other ones and let me know
39:00what you thought in the comments I look
39:01at them and I get feedback from it and
39:04their influences what videos I might
39:05make so do it thanks for watching we'll
39:08see you soon