Video Link: https://youtu.be/a16SXAA0qdM
In this episode, Charlie Munger talks about an idea that he found very important in life is that non-egality would work better in the parts of the world he wanted to inhabit.
In this episode, you’ll learn:
What does Charlie Munger meant by non-egality?
What should you do if you want the highest reaches of human civilization?
Why do you want to get the power into the right people?
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CHARLIE MUNGER 00:00
A last idea that I found very important is I realized very early that non-egality would work better in the parts of the world I wanted to inhabit. What do I mean by non-egality?
I mean John Wooden, when he was the number one basketball coach in the world. He just said to the bottom five players, “You don't get to play. You're sparring partners.” The top seven did all the playing.
Well, the top seven learned more — remember the learning machine — because they were doing all the playing. And when he got to that system, why, Wooden won more than he'd ever won before.
I think the game of life, in many respects, is getting a lot of practice into the hands of the people that have the most aptitude to learn and the most tendency to be learning machines. And if you want the very highest reaches of human civilization, that’s where you have to go.
You do not want to choose a brain surgeon for your child among fifty applicants, all of them just take turns during the procedure. You know, it's not the way to get – You don’t want your airplanes designed that way. You don’t want your Berkshire Hathaway’s run that way. You want to get the power into the right people.