I enjoy Morgan Housel’s “a few things I’m pretty sure about” posts because it’s a rapid fire list of ideas worth pondering.
I went to Carnegie Mellon University to study Computer Science, a very competitive program. At our first day of orientation, the speaker said “you were all in the top 5% of your class, 95% of you will have to get used to the idea that you won’t be in the top 5% anymore.” Welcome to CMU. 🤣
A Few Things I’m Pretty Sure About [Collab Fund] – “An iron rule of math is that 50% of the population has to be below average. It’s true for income, intelligence, health, wealth, everything. And it’s a brutal reality in a world where social media stuffs the top 1% of moments of the top 1% of people in your face.
You can raise the quality of life for those below average, or set a floor on how low they can go. But when a majority of people expect a top 5% outcome the result is guaranteed mass disappointment.”
I think his housing affordability argument has some serious legs.