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The $100 Rule That Made Him A Bestseller (Morgan Housel Interview)
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Sign Up for "Writing Examples" and Learn From The Best Writing of All Time: https://www.writingexamples.com In this episode, you’ll learn how Morgan Housel captivates millions of readers with his writing. We cover topics like selfish writing; ruthless self-editing; writing with brevity; and making dry ideas come alive on the page. TIMESTAMPS: 00:00:00 Intro 00:00:50 How Morgan's writing has changed 00:03:00 Career 00:05:30 Storytelling 00:09:00 Reading 00:11:40 Admiration 00:18:45 Tools 00:20:45 Writing good history 00:23:00 Mantras 00:28:00 Second book 00:29:00 Writing environment 00:32:00 Walking 00:35:00 Business Model 00:36:00 Business of Speaking and Writing Books 00:42:00 Experimenting 00:43:45 Audiobooks 00:45:30 End Notes 00:47:30 Reading interviews 00:48:00 Selfish writing 00:54:00 "Same As Ever" 00:56:50 Ken Burns 01:00:00 Steve Jobs, Jeff Bezos, Warren Buffet 01:04:00 Quitting and criticism 01:06:00 Improving 01:09:30 Chapter titles 01:20:00 Editing process 01:26:30 Epiphanies 01:31:00 Love of sentences 01:32:30 Aphorisms 01:39:50 Writing conclusions 01:45:00 Brevity 01:54:30 Feedback 01:59:11 What moves the needle WRITE OF PASSAGE: Want to learn more about the next class for Write of Passage? Click here: https://writeofpassage.school PODCAST LINKS: Website: https://writeofpassage.school/how-i-write/ Apple: https://podcasts.apple.com/us/podcast/how-i-write/id1700171470 https://open.spotify.com/show/2DjMSboniFAeGA8v9NpoPv ABOUT THE HOST: I’m David Perell and I’m a writer, teacher, and podcaster. I believe writing online is one of the biggest opportunities in the world today. For the first time in human history, everybody can freely share their ideas with a global audience. I seek to help as many people publish their writing online as possible. How I Write is a podcast by Write of Passage // Production by Adam Soccolich
Segments Timeline
The Power of Sentences
Morgan Housel emphasizes that readers remember sentences, not entire books. He discusses the importance of storytelling in writing, stating that the best story wins, and shares a tongue-in-cheek mantra about writing: pretend every word costs a hundred dollars. This approach encourages ruthless self-editing and brevity in writing.
"People don't remember books, they remember sentences. When you told me that, and I remember you did tell me that, I was like, that's it. So much of good writing is not what you say, it's how you say i..."
Embracing Your Writing Style
Housel reflects on how his writing has remained consistent over 17 years. He shares his experience transitioning from blogging to writing a book, emphasizing the importance of owning one's style. He discusses how breaking down a book into shorter chapters can make the writing process more manageable and digestible.
"17 years. Nothing. Nothing. I don't want, and I think that's, and it's not to say that there's no improvement, but I don't want to be like, this was one of the lessons for when I started writing Psych..."
The Challenge of Long-Form Writing
Morgan Housel recounts his initial struggles with writing longer chapters for 'Psychology of Money.' He shares how he attempted to conform to traditional book structures but found it challenging. Feedback from peers helped him realize that he should stick to his strengths in writing shorter, impactful pieces.
"I'm sure they exist, but I actually think it's great that people kind of own what they do. Um, remember 10, 15 years ago when Joe Weisenthal was writing a lot at Business Insider, he was literally doi..."
The Art of Storytelling in Finance
Housel discusses the significance of storytelling in finance writing. He explains how telling engaging stories can help writers stand out in a competitive field. By focusing on the human aspect of finance, he found a way to make his writing more interesting and relatable.
"Completely different. It's the equivalent of like, you're really skilled at jazz music, and then you're like, I could do heavy metal. It's music. It's the same thing, right? Like, that's so different...."
From Desperation to Passion
Morgan Housel shares his journey from being a finance major to becoming a writer for The Motley Fool. Initially viewing writing as a temporary job, he eventually discovered his passion for storytelling. This transition took time, but it ultimately shaped his career as a writer.
"very, it's broken up into little bits. How about in the piece that you wrote about your friend who passed, uh, the one when you were skiing, that one was a little bit different. That was probably abou..."
Finding Your Voice as a Writer
Housel reflects on his early writing career and the lack of writing heroes he had. He discusses how he learned to write through necessity rather than inspiration. His journey involved discovering his unique voice and style, which ultimately led to his success as a writer.
"So I thought, okay, I'll do this for six months until I can find a job at a hedge fund, become a trader at a hedge fund. But I, I, I didn't, and it was, it was not enjoyable at first. It felt the firs..."
The Shift from Quantity to Quality in Reading
Morgan Housel talks about his evolution as a reader, moving from reading for quantity to reading for quality. He emphasizes the importance of intentional reading and reflection, rather than just trying to consume as many books as possible. This shift has allowed him to deepen his understanding and engagement with the material.
"I would casually read here and there, but really not that much. I, I do now, but when I started I was not much of a reader either. How do you read now? I read a lot less than I used to. I definitely w..."
The Impact of Frederick Lewis Allen
Housel shares his admiration for historian Frederick Lewis Allen, who wrote about the lives of average Americans in the early 20th century. He appreciates Allen's accessible writing style and how it contrasts with traditional historical narratives. This influence has shaped Housel's approach to storytelling in his own writing.
"for sport period. And actually what might be happening is you're like training yourself to read. I think so. I think that's what it is. So now that I read much slower, but I think you pick up some rea..."
Frederick Lewis Allen: A Historian's Impact
Housel shares his admiration for historian Frederick Lewis Allen, known for his relatable writing about average Americans in the early 20th century. He contrasts Allen's accessible style with the dense prose of other historians, highlighting how Allen's work resonates with modern readers.
"that period. How did you find Frederick Lewis Allen's work and how has it impacted you? I don't know where I first heard of Frederick Lewis Allen. I don't, I can't think of the moment when it was beca..."
The Power of Historical Context
Discussing the value of reading historical newspapers, Housel explains how they provide insights without hindsight bias. He emphasizes the importance of understanding the mindset of people during significant events, like the Great Depression, to grasp the complexities of history.
"it's easy to read. I feel like in 1930, he was writing like somebody would write in the 2010s, which is pretty rare. A lot of those books, you're like, Oh, this, this book written in 1920, even if it'..."
Writing History Without Hindsight
Housel reflects on David McCullough's insights about writing history. He emphasizes that great historians capture the uncertainty of their subjects, allowing readers to experience history as it unfolds, rather than through the lens of what we know today.
"usable. You don't need to be an economist to figure out what you're doing. Anyone can just go in there and type in unemployment rate and it'll show you. Every different kind of unemployment rate broke..."
The Mantra of Clarity in Writing
Housel shares his mantra, 'What's your point?' stressing the need for clarity and brevity in writing. He discusses the impatience of modern readers and the importance of capturing attention quickly, drawing parallels to how audiences consume media today.
"now, right? And every book written about the Great Depression knows that it did end. But in 1932, they didn't know that it was gonna end. Mm-Hmm. . And you realize there's all these, um, alternative h..."
Finding the Story in Writing
Housel explains his writing process, emphasizing that he often discovers the story first before identifying the broader lesson. He shares how personal anecdotes and experiences shape his narratives, making them relatable and impactful.
"Make the point and get out of the way. Like, it's easy to underestimate how impatient readers are. And I see it with myself. Not just in writing, but watching TV and watching movies. It's just like, w..."
The Snow White Breakthrough
Housel recounts the pivotal moment in Walt Disney's career with 'Snow White,' illustrating the concept that often, only one out of many efforts leads to significant success. He relates this to his own writing journey, where only a few pieces resonate deeply.
"it's been the latter. You're so good at it. I mean, I just off the top of my head, I think of so many Morgan stories that you just nailed. I love the Steamboat Willie one with Walt Disney. Oh yeah, ye..."
Embracing the Fear of Failure
Housel candidly discusses the fear of publishing his second book, acknowledging that not every work will be a success. He reflects on the reality that even successful authors have many lesser-known works, emphasizing the importance of resilience in writing.
"How does that show up in your writing? Oh, I mean, of the, you know, I bet at this point it's... Pushing 4, 000 blog posts. I think I'm really proud of like 10 of them. Oh, wow. That's probably true. ..."
The Writing Environment
Housel describes his dedicated writing space, emphasizing its importance in his creative process. He shares how he balances structured writing days with unstructured time for reflection and idea generation, highlighting the role of environment in fostering creativity.
"of Michael Lewis books that I bet even Michael Lewis fans have barely ever heard of. Uh, The New New Thing. Most people have never heard of it. Even some of his more recent books, The Fifth Risk. Yeah..."
The Creative Process on the Move
Housel reveals his practice of sending himself emails with ideas while walking, illustrating how movement stimulates creativity. He discusses the spontaneity of inspiration and how it often strikes during physical activity rather than at his desk.
"it's. Scroll on Twitter, watching a YouTube. I was just watching a YouTube documentary about FTX that just came out. And it's a lot of just unstructured wandering, which is what I like doing, and it a..."
From Treadmill to Title
In this segment, Housel recounts how a simple title idea, 'Laws of Getting Rich,' emerged while he was on the treadmill. He discusses the evolution of this idea into an article that explores the overlooked downsides of wealth, showcasing his unique approach to writing about financial topics.
"when I'm sitting at my desk. So you're just standing at the street corner, you're just typing? Yes, yes. Looking down? And it's usually, it's usually, sometimes the emails will be two words to myself...."
The Business of Speaking
Morgan Housel reflects on his journey into public speaking, inspired by witnessing a captivating talk at a financial conference. He shares his initial fears and how speaking has become a significant part of his career, illustrating the connection between his writing and speaking engagements.
"How long are your walks? Um, 20 minutes, 30 minutes, something like that. And if I'm, if I'm really trying to think of an idea, it'll be two or three a day. And then I, I run every other day, usually ..."
Memorization vs. Ad-libbing
Housel discusses the balance between memorizing his talks and incorporating spontaneous ad-libs. He explains how this technique keeps his presentations engaging and highlights the skill required to deliver memorized content naturally, drawing parallels to the craft of acting.
"that I'd ever been to. And I watched Barry get up on stage and just absolutely own the 500 people in the audience. Just had them, just crushed it. And I remember sitting in the back and being like, I ..."
The Power of Audience Feedback
In this segment, Housel emphasizes the value of audience feedback during live talks. He compares it to writing, noting that speakers can gauge engagement in real-time, which helps refine their content and delivery, a dynamic absent in the writing process.
"And how do you think about the relationship between writing and speaking? Well, definitely what I speak about is what I write about. And a lot of, like, the stories that I might tell on a blog is just..."
Serendipity in Writing
Morgan Housel reflects on his unexpected journey into writing, emphasizing the importance of trial and error in finding one's voice. He shares how his initial embarrassment about being a writer led to a more authentic and exploratory approach to his craft.
"you give your average person 3, 000 words and they have a 3, 000 word essay. You're like, Hey, condense this to 500 words. They're like, come again. Yeah, I can't do that. If somebody has a five minut..."
Learning from Influential Writers
Housel discusses the impact of influential writers on his style, mentioning figures like Bill Bonner and Bethany McLean. He explains how experimenting with different voices helped him develop his own unique writing style, showcasing the importance of mentorship in writing.
"a field. I think particularly if someone pushes you into it, if your parents say, here's how to do it, and here's why you should do it, like you rebel. The other thing is that if, you know, I think a ..."
Courage in Writing
In this segment, Housel praises Bethany McLean's courage in investigative writing, particularly during the Enron scandal. He highlights the importance of trusting one's observations and the challenges writers face when their insights contradict popular narratives.
"you've looked up to over the years. Can you share some of those lessons that come to mind of Bethany or Felix Salmon? Are there any? Felix Samuels was always very blunt and to the point. No pussyfooti..."
The Rise of Audiobooks
Morgan Housel discusses the surprising popularity of audiobooks, noting that the audiobook version of his book outsells the physical copy. He reflects on changing consumer habits and the growth of the audiobook market, emphasizing its significance in the publishing industry.
"down to, no, I'm going to trust my senses and to hell with what... The social world thinks there's gonna be, it's gonna take some courage, but this is just what I'm seeing, and I'm gonna say what I'm ..."
International Success
Housel shares insights into the international success of his book, 'Psychology of Money,' revealing that a significant portion of sales comes from outside the United States. He reflects on the unexpected global reach of his work and the diverse readership it attracts.
"year. It's bigger this year than it was last year. It's huge. It's not only, it's not this little bit player. What's interesting is that when Kindle came out, I don't know, 10, 15 years ago, I remembe..."
The Value of Interviews
In this segment, Housel emphasizes the importance of interviews in uncovering stories and insights. He discusses how quoting credible sources enhances his writing and the wealth of knowledge available through interviews with successful figures.
"is, even in per capita terms, bigger than almost any other market. Americans read a lot. Oh wow. Versus other countries, but there's obviously a lot of other people out in the world. Yeah, totally. Yo..."
Selfish Writing
Morgan Housel introduces the concept of 'selfish writing,' inspired by Howard Marks' approach to writing memos. He explains how writing for oneself can clarify thoughts and lead to meaningful insights, emphasizing the personal nature of the writing process.
"it. So I just, I try to quote these people from their interviews as liberally as I can. Yeah, one of my favorite examples of when you do this is in Selfish Writing when you're talking about the interv..."
Laughter as a Sign of Insight
Morgan Housel shares his belief that laughter can signify moments of epiphany in writing. He draws parallels between humor and comprehension, suggesting that when a writer finds joy in their work, it often leads to deeper insights. This segment emphasizes the emotional connection that can be forged through effective storytelling.
"It's really hard to know when to stop and when know your audience turns into pandering to them. And I never want to write something where it's like, oh, I already know this, but I need to explain it t..."
The Frustration of Writing
Housel discusses the inherent frustrations of the writing process, likening it to a deep dive into a topic. He explains how writing forces him to focus and explore ideas thoroughly, often leading to unexpected insights. This segment highlights the struggle and eventual satisfaction that comes from committing to the writing process.
"as humor. Yeah. Yeah. So I think it's just like a, like a chef of like, well, does the food taste good to you? Like if it doesn't taste good to you, it's not gonna taste good to anybody else. You migh..."
The Art of Storytelling in Writing
In this segment, Housel emphasizes the importance of storytelling in writing, using Ken Burns as an example. He explains how Burns captivates audiences by weaving compelling narratives around well-known historical events. Housel argues that effective storytelling is crucial for engaging readers and making complex ideas accessible.
"I've really done this like giant deep, deep, deep, deep, deep, deep dive. And then I just come up for air and. I've had a real shift without even realizing it. Yeah. No, that's good. Um, I, I, I alway..."
Best Story Wins
Housel discusses the principle that the best story often triumphs over the best idea. He illustrates this with examples from successful figures like Warren Buffett and Jeff Bezos, who excel at storytelling to connect with their audiences. This segment underscores the significance of narrative in various fields, including finance and business.
"psychology money is obviously a finance book and same as ever is much broader. There's a lot that's about finance that's in there, but it's broader topics. It's just how people behave and how they res..."
Facing Criticism as a Writer
Morgan Housel opens up about the challenges of receiving criticism as a writer. He shares personal experiences of self-doubt and the impact of negative feedback on his confidence. This segment highlights the vulnerability that comes with writing and the importance of resilience in the face of criticism.
"And this is. One thing that I really have appreciated about the investing finance industry is they figured out how to use writing to attract capital, to get the right shareholders, to really align thi..."
The Journey to Becoming a Writer
Morgan Housel reveals that he spent 14 years honing his craft before publishing his first book, 'Psychology of Money.' He discusses the value of patience in writing and how waiting allowed him to improve his skills and produce a better final product.
"I remember, I remember reading that comment and being like, he's right. And that hurts. Like, I remember that was like a low day of just like, what am I doing? I'm pretending to be a writer. I have no..."
Brevity and Storytelling
Housel emphasizes the importance of brevity and storytelling in writing. He explains how he has learned to convey ideas more succinctly and effectively, using anecdotes to engage readers while avoiding unnecessary rambling.
"Psychology of Money came out. And that was, that was, that was great. I look back, and we were talking about this earlier with my wife. She says it was just laziness why I waited that long. I think th..."
Learning from Great Writing
Morgan discusses how analyzing his favorite books helped him understand the importance of brevity. He shares a quote about leaving out parts that readers tend to skip, reinforcing the idea that effective writing should be engaging and to the point.
"that there's no rambling. So I think that's, that's what I've tried to improve the most. Of like, can I catch your attention with a story? And can I make sure that I don't lose your attention once I g..."
The Scrap Bits Document
Housel introduces his 'Scrap Bits' Google Doc, where he saves deleted sections and anecdotes from his writing. He explains how this practice allows him to recycle ideas and stories that may not fit in one piece but can enhance another.
"in my writing. And tell me about this Google doc that you have of all the stuff that you've deleted and you have this giant Google doc or something. Yeah. And it's now. It might be close to like 100, ..."
Chapter Titles for 'The Psychology of Writing'
In a fun exercise, Housel brainstorms potential chapter titles for a hypothetical book on writing. He emphasizes the importance of clarity and engaging storytelling, sharing insights on how to write in a way that resonates with readers.
"same as ever and you're just like I have it all there that you got the little chapters on the left side and I and I back it up in about 17 locations because I'm so paranoid about losing it. Oh, that's..."
Emotional Resonance in Writing
Housel discusses the emotional impact of storytelling, particularly in historical contexts like World War II. He reflects on how the range of human emotions during significant events can inform powerful writing and connect with readers on a deeper level.
"be in there. Um, selfish writing would be a title because I think it would comply to most people. Write things that you want to read in a style that you enjoy and don't think about anyone else. The ot..."
Resilience in Storytelling
Morgan highlights the theme of resilience in stories, particularly those of individuals who have overcome adversity. He shares how these narratives can provide valuable lessons about human strength and adaptability.
"and shoved it into the six year period. So I like read, some people will like World War II cause they like, you know, I don't know, military history, like military strategy. I just like. Thinking abou..."
The Evolution of Writing
Housel reflects on his writing journey, noting that while he may have plateaued in skill, his voice and perspective continue to evolve. He emphasizes that writing is a reflection of personal growth and changing life experiences.
"there of like, people can, people can adapt. better than they think. And it's easy to extrapolate the, the, the hole that you're in and be like, I'm in this dark pit of despair right now and it's goin..."
Analyzing the World from a Distance
Morgan discusses his approach to analyzing societal trends from a high-level perspective. He contrasts this with detail-oriented analysis, explaining how understanding broader human behavior can lead to more insightful writing.
"you had impending destruction of the US economy I wrote a piece called what the hell is going on? All the universities are gonna die. It's all over. The whole thing is a sham And you really get humble..."
Writing as a Social Profession
Housel concludes by discussing the social nature of writing. He emphasizes the importance of observing human behavior and understanding the complexities of thought processes, which enriches his writing and connects with readers.
"think a lot of that comes from the fact that. The lower you get to the ground level, the harder it is to figure things out. If you're trying to figure out like the extreme details of what other people..."
The Editing Process
Morgan shares his unique editing process, where he focuses on refining each sentence as he writes rather than revisiting the entire piece afterward. He explains how this method helps him maintain quality and clarity in his work.
"thing of like just trying to figure out the, how big the spectrum of crazy thoughts there is that goes through people's heads. I think that's, that is true for me. You know, the, what I write about an..."
Emotional Epiphanies in Writing
Housel shares his perspective on the emotional nature of writing, describing how the initial draft often stems from intense feelings and raw thoughts. He contrasts this with the need for a sober review process to refine his ideas. This segment delves into the balance between emotional expression and logical clarity in writing, emphasizing the importance of revisiting and revising initial drafts.
"crazy. Because you, you can. The hardest thing about writing a book relative to a blog is that blogs can be changed after the fact. Right. And there's plenty of times when after I publish a blog, some..."
The Secret to Good Writing
Morgan Housel discusses the often-overlooked aspects of writing that contribute to creativity. He argues that good writing is not just about typing at a desk but involves thinking, daydreaming, and allowing ideas to flow freely. This segment highlights the importance of creating an environment conducive to creativity, where ideas can emerge spontaneously during everyday activities.
"and that'll be the end of that. So I feel like in terms of being the opposite of that, I feel like I truly write. One sentence at a time in terms of I'll write a sentence and I'll stare at it and then..."
Finding Ideas in Everyday Life
In this segment, Housel explains how he often finds inspiration for writing in mundane moments, such as walks or conversations. He emphasizes that ideas cannot be scheduled and often arise unexpectedly. This insight into his creative process underscores the value of being open to inspiration at any time, rather than forcing creativity within a rigid structure.
"the topic that you're writing about. Yeah, good ideas can't be scheduled. Can't be scheduled. A lot of people disagree with that. I know Ryan Holiday, great writer who I look up to, I think he's great..."
The Learning Process of Writing
Housel reflects on how the act of writing itself is a learning experience. He shares that he often starts with a title or a vague idea and allows the writing process to guide him to unexpected conclusions. This segment emphasizes the importance of curiosity and exploration in writing, as well as the idea that the journey of writing can lead to new insights and understandings.
"ideas suck. They're always terrible. You know, one of the weirdest things for me about writing and trying to cultivate a process. I need to sleep a lot. So I did a writer's retreat this summer and I w..."
The Power of Memorable Sentences
Morgan Housel discusses his love for crafting memorable sentences, asserting that impactful writing is often about creating highlightable moments. He reflects on the significance of sentences in literature and how they can resonate with readers. This segment encourages writers to focus on the quality and memorability of their sentences to enhance their overall writing.
"But the opposite's pretty cool, so let's write about that. So I think it's always, um, it's just a learning process for me. And that gets back to selfish writing, too. Like, I'm just trying to figure ..."
The Value of Diverse Writing Styles
In this concluding segment, Housel shares insights on the diversity of writing styles and the importance of being good at what you do. He reflects on the feedback he received from publishers regarding his book 'Psychology of Money' and how he believes that good writing can transcend traditional structures. This segment reinforces the idea that there are many valid approaches to writing, as long as the writing is of high quality.
"sentences in there. And if you can improve that in density, even if you improve it by 10%, like, you're gonna zoom up the ladder of the quality of the writing. You know what the number one highlighted..."
Randomness in Writing
Housel reflects on the rejection of his book 'Psychology of Money' by publishers due to its lack of a connecting theme. He argues that diverse essays can be compelling and that good writing transcends traditional narrative structures, allowing for a broader exploration of ideas.
"I think books like Kevin Kelly's, or Nassim Taleb's, or to some extent, Psychology of Money. Cover a wide range of things, but if it's good writing, people will like it. Yeah, I mean, the major lesson..."
The Art of Storytelling
Morgan Housel highlights the importance of storytelling in writing, using Bill Bryson as an example. He explains how Bryson transforms mundane topics into captivating narratives, demonstrating that the way a story is told can make even the driest subjects engaging.
"You know, what's really funny about this? How many writers don't write because they think Everything that I would want to say on this topic has already been said before. So much of good writing is not..."
Crafting Powerful Conclusions
Housel shares insights on the significance of first and last sentences in writing. He emphasizes that a strong conclusion should evoke emotion and leave a lasting impression, illustrating this with his own work in 'Psychology of Money' and the importance of intentionality in writing.
"There's infinite opportunity in that you know the other lesson from Bill Bryson is the way that you can expand and contract ideas In this just magnificent way, right? He has what a short history of ne..."
The Importance of Research
In this segment, Housel discusses Robert Caro's meticulous research process and how it contributes to compelling storytelling. He emphasizes the value of persistence in uncovering details that enhance narratives, showcasing the dedication required for impactful writing.
"it is. Robert Caro writes to the last sentence. So he knows what the last sentence is. And the entire book just leads, and leads, yeah. He's, he's his own beast. He's a, he's an amazing writer. And in..."
The Art of Sentence Variation
Morgan Housel explains the significance of varying sentence lengths to create rhythm in writing. He shares techniques for maintaining reader engagement through diverse sentence structures, highlighting how this approach can enhance the overall reading experience.
"line that you have in, uh, Same as Ever right at the beginning. It's none of the chapters are long and you're welcome for that. Yeah, that's how I feel as a reader. I'm kind of saying that back to lik..."
Reader Engagement Strategies
Housel discusses the importance of formatting and paragraph structure in writing. He explains how breaking up text can make it less daunting for readers, encouraging them to engage with the content more effectively and enhancing comprehension.
"than being like, I don't have time for this. I got to go do something else. Two nights ago, I picked up a 19th century commentary and I looked at it and it was a big book and the way the pages were la..."
The Balance of Writing
In this segment, Housel reflects on the balance between brevity and depth in writing. He shares personal anecdotes about crafting sentences and the creative freedom that comes with experimenting in writing, emphasizing the joy of storytelling.
"to balance it out. There's a way to think about this. And as you structure your paragraphs, you're just telling your reader, This is how I want you to read my work. Yeah. And I don't think a lot of wr..."
Creating Musical Writing
Morgan Housel introduces the concept of writing as music, advocating for a blend of short, medium, and long sentences to create a pleasing rhythm. He illustrates how this technique can enhance the reader's experience and make writing more enjoyable.
"laugh. One thing that, like a sentence that sticks out, actually people remember sentences, I forget what book this is, so I'm not going to give it accurate credit here, but it was a book about D Day ..."
The Paradox of Creativity
Housel discusses the paradox of creativity, where the best creative work appears effortless to the audience. He reflects on the unseen effort behind writing and the importance of crafting sentences that resonate, regardless of the time invested in them.
"And I don't know what to call that, but I love it when people show what they're trying to say as they're making the point in the same, the same thrust. Yeah, that's good. But the other thing that stic..."
Quitting While Ahead
In this closing segment, Housel admires individuals who know when to step back from their careers, using examples like Jerry Seinfeld. He emphasizes the importance of leaving on a high note and the happiness that comes from making such choices.
"Yeah. Which means that they'll never appreciate how much work it took. The other thing I think about is you never know what sentence took the author an hour and which, which. Paragraph just fell out o..."
Quitting While You're Ahead
Housel admires individuals who know when to step back from their careers, using Jerry Seinfeld's decision to end his show at its peak as an example. He discusses the importance of leaving on a high note and how this choice can lead to greater happiness and fulfillment.
"Seinfeld was on top of the world when they ended in 1998 and he said no we're done we're out of here. I know we're on top of the world that's why we're quitting. And Jerry has this quote where he says..."
The Value of Feedback
Morgan Housel shares insights on the importance of discerning valuable feedback from criticism. He emphasizes the need to listen to trusted voices while maintaining one's unique style, and the balance between accepting praise and criticism in the writing process.
"like one thing that you are particularly good at is just having a keen sense for whose feedback you're going to listen to and who's you're going to ignore and reject. And I feel like you've just been ..."
Wounds vs. Scars in Writing
In this segment, Housel reflects on the emotional impact of criticism in his early writing career, describing how wounds from negative feedback can heal over time. He contrasts this with lasting scars from challenging experiences, such as starting his career during the 2008 financial crisis, which ultimately shaped his approach to writing.
"Wasn't it Derek Thompson on, on this, on this podcast who said, Find someone who cares about you and wants you to succeed and is willing to give you critical advice. I think he phrased it differently,..."
The Fear of Failure
Housel discusses the mindset of successful individuals, including VC Mike Moritz, who maintain a constant fear of failure. He explains how this fear drives them to stay focused and innovative, ensuring they do not take past successes for granted.
"That is something that's striking about talking to you is for how long you've been writing and for how well you do it and how many books you've sold. You talk about it like you've been doing this for ..."
The Role of Luck in Success
Morgan Housel addresses the significant role of luck in achieving success, particularly in writing and publishing. He argues that while skill is essential, many factors beyond an author's control contribute to a book's success, emphasizing the importance of humility in the face of outsized achievements.
"part of the reason is it's so hard to sell books. People don't realize that the tail distribution of how hard it is to get someone to pay 30 for content that they're used to getting for free is very, ..."
Marketing vs. Quality
In this segment, Housel shares his belief that the quality of a book is far more important than marketing efforts. He argues that a good book will sell itself through word of mouth, while no amount of marketing can save a poorly written one.
"what it is. Well, one way to think about it is, how high is the pulpit that you're shouting from? Yeah. So marketing, you're just shouting from a higher pulpit. And so you can reach more people. But t..."
Empathy for the Reader
Morgan Housel concludes by discussing the importance of understanding the reader's experience. He emphasizes the need for writers to create engaging and accessible content, driven by empathy and respect for their audience's preferences.
"go buy this too. Nothing works more than that. Yeah, you know, speaking of products, I feel like one of the things that you do really well is you Think through what is the user experience of reading m..."