a bunch of wise words:
Those (literal) glasses get me every time.
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And what are those rules? I like rules but I don’t like videos. Probably Charly did neither.
This is why I recently started to copy paste the transcripts in YT and tell GPT to give me a summary.
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It boils down to the topic title (“Avoid Being Stupid”) and then mostly variations thereof.
I clicked into it but got bored quickly. Charlie wouldn’t have needed 50 minutes to explain seven rules, but the content generators (I’m guessing) want clicks …
Also, from the YouTube description:
How this content was made
Altered or synthetic content
Sound or visuals were significantly edited or digitally generated. Learn more
@xerox5003 inspired me to explore the following myself:
Since it’s a YouTube video, I thought Gemini might be good at this. After asking it to provide the 7 rules for said video, it answered with 7 rules from Charlie’s advice in general (which had only modest overlap with the 7 rules in the video, i.e. 3 and 7).
After some harsher prompting – “no, really, this video with the link I just gave you” – it answered as follows:
-
Avoid Stupidity
Erfolg beruht hauptsächlich darauf, Dummheit zu vermeiden, nicht darauf, Brillanz zu jagen. Vermeiden Sie Arroganz, Emotionen und Überheblichkeit, da diese zu Fehlern führen. -
Get Your First $100,000
Die ersten 100.000 sind der Test der Disziplin und Selbstbeherrschung. Es ist der Betrag, der am schwersten zu erreichen ist, da er erfordert, dass Sie härter arbeiten als Ihre Impulse, um den Zinseszinseffekt in Gang zu setzen. -
Avoid Envy Like a Disease
Neid ist die “dümmste Sünde”, da sie keinerlei Freude bereitet, sondern nur Elend und irrationale Entscheidungen verursacht. Hören Sie auf, die Erfolge anderer zu verfolgen, und bleiben Sie bei dem, was Sie verstehen. -
Learn to Say No
Die Qualität Ihres Lebens hängt davon ab, was Sie ablehnen, nicht davon, was Sie annehmen. Sagen Sie Nein zu fast allem, was nicht eine der wenigen, todsicheren Chancen ist (“fat pitch”). -
Stay Rational When Others Go Mad
Bleiben Sie ruhig und skeptisch in Zeiten der Euphorie (Boom) und ruhig und opportunistisch in Zeiten der Angst (Baisse). Das größte Risiko besteht darin, sich von Emotionen wie Gier und Angst anstecken zu lassen. -
Stay Within Your Circle of Competence
Wissen Sie, was Sie nicht wissen. Investieren oder handeln Sie niemals außerhalb Ihres Fachgebiets (Ihrer “circle of competence”), da Sie sonst nur spielen und nicht investieren. -
Invert, Always Invert!
Um ein Problem zu lösen, drehen Sie es um. Anstatt zu fragen, wie Sie erfolgreich sein können, fragen Sie, wie Sie scheitern können und vermeiden Sie diese Fehler konsequent.
Goofy’s notes:
- when Charlie first mentioned getting your first $100k is important, I wonder how much that is in today’s dollars. Probably at least double.
Anyway, he says the exact sum is not that important, but the process you’ll experience and the learnings you’ll have while saving and not spending are. - I asked Gemini to summarize the video and asked the question in English. It still gave the mixed language summary above … but AI is now really close to becoming sentient and destroying all humans on the planet!
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Thanks a lot.
Three step calculation with my salary in 1980 (first job after “Lehre”) and today (without working) it would be around 1.4 million CHF. 
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But salaries evolving with time IS one of the reasons why the first 100K are hardest to get for most people (we have an easier time of it with later-career higher salaries than with our entry level one).
Plus, I doubt Charlie chose that number because of deep studies about the increments in difficulty in wealth gathering showing an inflexion point at exactly $100K at the time he made that remark. The number is symbolic and probably still applies to the spirit of the original statement.
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Oh the irony: you need AI to comb through AI generated garbage.
If this isn’t progress then I don’t know what is.
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The progress is that, soon, we won’t have to be exposed to AI generated content on the internet as they will function among themselves in a close circle without human input nor need for observation. Venture capitalists will keep being able of throwing their money into it, stating that AGI will stem from those circles.
Everyone gets their cake. 
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too long, too redundant, and obviously fake, the general idea is wise though, and true imho and some context sometimes helps.
People generally fail by their own (stupid) choices and blame the world for it. Because the world “teaches” these choices, because people feel right being standard, then mostly fail. Avoid stupidity.
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How so? I’ve been listening to Munger speak for years, he’s totally said all that, many times.
My personal favourite is 7 - there’s also an anecdote he’s shared saying that he was in the US Airforce meteorological service, tasked with keeping pilots safe, so the team came up with the idea to invert the problem: try to find all ways the pilots could be unsafe, and then work to mitigate those.
If you mean the video itself is fake, in what sense? That he didn’t sit down and say all that in 60 mins?
The voice was AI generated. Not sure where the source material was from, presumably from some of his writings somewhere.
Yes. And there’s some robotic synthetic voice-sound at times humans can hear even if you’re not an AI-detecting-AI-generated-content-bot yourself. It’s been detected though.
Definitely Charlie Munger-like philosophy, but he’ll never sit down by his own in front of a mic, not in an interview, just lonely at home, at 99, to record an hour of lessons learned to be taught audio for his legacy…
He’s definitely done it before on video, and said all of the above, when he was ~95.
I didn’t listen because I was busy but now I got curious to hear the AI voice.
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Ok, I’m not aware of his habits, I was supposing with too much conviction, you may know better. I doubted and some users may confirm.
The only thing I am pretty sure about is that it has not been recorded last week.
I am listening now, that’s so interesting! Frankly I am unsure if I’d spotted something being off if I hadn’t read it’s AI-generated…until I’d reach this point where something got screwed up.
Having listened to Munger a lot over the years, this audio is aaaaalmost convincing, but not quite! Munger was blunter than that, and somehow impatient. He’d say what he wanted to say, succinctly and very economically, and wouldn’t elaborate. If you got it you got it, if not…pity.
That said, he has said all of the above, with similar language and style.
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“To (sic) rare commodities” 
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