7 highlights
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In 1985, Neil Postman, who was a media critic, wrote a book called Amusing Ourselves to Death. Postman argued that the media de-emphasizes the quality of information and over-emphasizes our desire to be entertained.
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I can’t think of a more poignant example that’s telling of our times. We’d rather have a real picture in a lavish private jet over a real experience that’s normal.
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This is the impact of entertainment on real life. People assume that what they see in movies, tv shows, and social media is real. And they try to mimic it.
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I’m born in 1987, and I copied what I saw: My parents, uncles and aunts, cousins, friends, teachers, and beyond my physical circle, the movies I watched and music I listened to.
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Someone born after the millennium is often influenced by what happens on their smartphone. They copy the behavior of celebrities and social media stars.
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Person A was born in 1930. Person B was born seventy years later, in 2000. They both start applying the Graham investing strategy at a very early age, let’s say when they were 15 years.
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Person A becomes Warren Buffett, once the richest man on earth, who experienced one of the biggest booms in value stocks when he was young. Person B loses half of their money because value stocks are out of favor in the 2010s.