(highlight:: The Case for Marrying for Money Management Potential
Key takeaways:
(* When wealthy people marry other wealthy people, the shared family wealth is invariably managed by the person with a better head for money., * Maybe someone with an entrepreneurial streak or a sophisticated invest.)
Transcript:
Speaker 3
You know, if you date someone, you typically don't marry a person after one day, you know, after going out one night. I mean, yes, there are the shotgun marriages in Vegas, but you know, we're not talking about that. We're talking about normal people. So normal people, you know, kind of dates, sometimes go happy for a long time. So they learn a lot about what the other person does with his money before they actually merge their wealth. And I use the example of, you know, Lady Mary in Tanton Abbey, you know, Lady Mary at some point as to marry. And because it's a society where, you know, she will marry some other rich guy, a certain medical and wealthy is guaranteed. And so the question is, you know, she has two potential suitors. So one is a guy who is really good at managing his, you know, estate. And the other one is, you know, really someone who is an aristocrat. He's very wealthy, but he wastes his money in different ways. And so the question that we ask rhetorically is, okay, should she marry the guy who is not very good at managing his wealth? And the answer is, and, you know, this is something that we provide evidence for, the answer, you know, which kind of person should she pick is well, depends on who's going to end up managing the resources of the family after the family is for. So in those families, where, of course, there's a lot of wealth, you have greater incentives to have, you know, efficiency. So to have the portfolio being managed by someone who's really good, how to start with.
Speaker 1
What Luigi is saying is that when wealthy people marry other wealthy people, the shared family wealth is invariably managed by the person with a better head for money. Maybe someone with an entrepreneurial streak or a sophisticated investor.)
- Time 0:15:45
-

(highlight:: The Explosive Effects of Merging Wealth
Key takeaways:
• When wealthy people marry other wealthy people, the shared family wealth is invariably managed by the person with a better head for money.
• This has profound consequences, including accelerating forms of wealth inequality.
Transcript:
Speaker 3
And so the question that we ask rhetorically is, okay, should she marry the guy who is not very good at managing his wealth? And the answer is, and, you know, this is something that we provide evidence for, the answer, you know, which kind of person should she pick is well, depends on who's going to end up managing The resources of the family after the family is for. So in those families, where, of course, there's a lot of wealth, you have greater incentives to have, you know, efficiency. So to have the portfolio being managed by someone who's really good, how to start with.
Speaker 1
What Luigi is saying is that when wealthy people marry other wealthy people, the shared family wealth is invariably managed by the person with a better head for money. Maybe someone with an entrepreneurial streak or a sophisticated investor. A sortative meeting ensures that with each generation, wealth not only merges with wealth, but that wealth accumulation accelerates on top of wealth.
Speaker 3
And this has profound consequences. When you merge your wealth, you have immediately a scale effect. You have accelerating forms of wealth inequality. So, you know, this is a very, very, very, very, very, very, very, very, very, very, very, very, very explosive form of wealth acceleration. That's exactly what, you know, people have seen, if you look at work by economists like Emmanuel Sahes and Gabriel Zucman, that is exactly one of the findings they had for the United States. In the last 30 years, the degree of concentration in the wealth distribution has been made.)
- Time 0:16:40
- economic inequality,

(highlight:: The Ripple Effect of Social Networks
Key takeaways:
• Social networks have ripple effects.
• The full value of social networks is not always accounted for when people make decisions about who to befriend.
• People are underforming their networks and enriching themselves by making choices that have ripple effects.
Transcript:
Speaker 2
And I think, you know, that's one thing that is important to understand about our networks is that, you know, that they're not necessarily optimized in the sense that, you know, connections That I make give me information that can help my students and can help my colleagues. And, you know, when I'm thinking about, oh, should I go to this conference, am I going to learn something new? I'm usually thinking about this for myself, I'm not thinking, oh, maybe I'll learn this thing which I can actually tell, you know, so-and-so about. And so, you know, the full value of these kinds of interactions and the importance of reaching out, the value of that to the greater society isn't something that's necessarily governing People's choices. When they're deciding, oh, should I go and do this, or should I go and meet this person, or does it make sense to call this person? And, you know, do I follow through this friendship and so forth? So there's a lot of things that we do that aren't optimizing on that. And, you know, these serendipitous relationships matter a lot and can have a lot of consequences, but they're not something that's fully accounted for when we form our relationships. And so that means that somehow we're all under forming and under, you know, broadening our networks and enriching ourselves.
Speaker 1
What Matthew was pointing out is that social networks have ripple effects. I may think that my choice of friendship influences only me and my friends, but in fact, those choices can profoundly shape the lives of other people down the road.)
- Time 0:27:42
- connection, networking, social networks,
- [note::Why did I highlight this? It seems obvious lol.]

(highlight:: Homophily: The human tendency to gravitate towards others who are similar to us in some way
Key takeaways:
• Homophily is a powerful predisposition that most of us don't even realize we have.
• It happens so regularly in daily life that most of us don't even realize we do it.
Transcript:
Speaker 1
Some of the biggest problems in the world today are the result of mismanagement and corruption. But there are also many serious problems that stem from the internal architecture and predispositions of the human mind. One of those powerful predispositions is that we gravitate toward people who are similar to us in some way. It's a phenomenon known as homophily. At Stanford University, Matthew Jackson says this happened so regularly in daily life that most of us don't even realize we do it.)
- Time 0:29:52
- behavior, prejudice, bias, connection, networking, psychology, social networks, favorite, 1todo evernote,

(highlight:: The Case for Marrying for Money Management Potential
Key takeaways:
(* When wealthy people marry other wealthy people, the shared family wealth is invariably managed by the person with a better head for money., * Maybe someone with an entrepreneurial streak or a sophisticated invest.)
Transcript:
Speaker 3
You know, if you date someone, you typically don't marry a person after one day, you know, after going out one night. I mean, yes, there are the shotgun marriages in Vegas, but you know, we're not talking about that. We're talking about normal people. So normal people, you know, kind of dates, sometimes go happy for a long time. So they learn a lot about what the other person does with his money before they actually merge their wealth. And I use the example of, you know, Lady Mary in Tanton Abbey, you know, Lady Mary at some point as to marry. And because it's a society where, you know, she will marry some other rich guy, a certain medical and wealthy is guaranteed. And so the question is, you know, she has two potential suitors. So one is a guy who is really good at managing his, you know, estate. And the other one is, you know, really someone who is an aristocrat. He's very wealthy, but he wastes his money in different ways. And so the question that we ask rhetorically is, okay, should she marry the guy who is not very good at managing his wealth? And the answer is, and, you know, this is something that we provide evidence for, the answer, you know, which kind of person should she pick is well, depends on who's going to end up managing the resources of the family after the family is for. So in those families, where, of course, there's a lot of wealth, you have greater incentives to have, you know, efficiency. So to have the portfolio being managed by someone who's really good, how to start with.
Speaker 1
What Luigi is saying is that when wealthy people marry other wealthy people, the shared family wealth is invariably managed by the person with a better head for money. Maybe someone with an entrepreneurial streak or a sophisticated investor.)
- Time 0:15:45
-

(highlight:: The Explosive Effects of Merging Wealth
Key takeaways:
• When wealthy people marry other wealthy people, the shared family wealth is invariably managed by the person with a better head for money.
• This has profound consequences, including accelerating forms of wealth inequality.
Transcript:
Speaker 3
And so the question that we ask rhetorically is, okay, should she marry the guy who is not very good at managing his wealth? And the answer is, and, you know, this is something that we provide evidence for, the answer, you know, which kind of person should she pick is well, depends on who's going to end up managing The resources of the family after the family is for. So in those families, where, of course, there's a lot of wealth, you have greater incentives to have, you know, efficiency. So to have the portfolio being managed by someone who's really good, how to start with.
Speaker 1
What Luigi is saying is that when wealthy people marry other wealthy people, the shared family wealth is invariably managed by the person with a better head for money. Maybe someone with an entrepreneurial streak or a sophisticated investor. A sortative meeting ensures that with each generation, wealth not only merges with wealth, but that wealth accumulation accelerates on top of wealth.
Speaker 3
And this has profound consequences. When you merge your wealth, you have immediately a scale effect. You have accelerating forms of wealth inequality. So, you know, this is a very, very, very, very, very, very, very, very, very, very, very, very, very explosive form of wealth acceleration. That's exactly what, you know, people have seen, if you look at work by economists like Emmanuel Sahes and Gabriel Zucman, that is exactly one of the findings they had for the United States. In the last 30 years, the degree of concentration in the wealth distribution has been made.)
- Time 0:16:40
- economic inequality,

(highlight:: The Ripple Effect of Social Networks
Key takeaways:
• Social networks have ripple effects.
• The full value of social networks is not always accounted for when people make decisions about who to befriend.
• People are underforming their networks and enriching themselves by making choices that have ripple effects.
Transcript:
Speaker 2
And I think, you know, that's one thing that is important to understand about our networks is that, you know, that they're not necessarily optimized in the sense that, you know, connections That I make give me information that can help my students and can help my colleagues. And, you know, when I'm thinking about, oh, should I go to this conference, am I going to learn something new? I'm usually thinking about this for myself, I'm not thinking, oh, maybe I'll learn this thing which I can actually tell, you know, so-and-so about. And so, you know, the full value of these kinds of interactions and the importance of reaching out, the value of that to the greater society isn't something that's necessarily governing People's choices. When they're deciding, oh, should I go and do this, or should I go and meet this person, or does it make sense to call this person? And, you know, do I follow through this friendship and so forth? So there's a lot of things that we do that aren't optimizing on that. And, you know, these serendipitous relationships matter a lot and can have a lot of consequences, but they're not something that's fully accounted for when we form our relationships. And so that means that somehow we're all under forming and under, you know, broadening our networks and enriching ourselves.
Speaker 1
What Matthew was pointing out is that social networks have ripple effects. I may think that my choice of friendship influences only me and my friends, but in fact, those choices can profoundly shape the lives of other people down the road.)
- Time 0:27:42
- connection, networking, social networks,
- [note::Why did I highlight this? It seems obvious lol.]

(highlight:: Homophily: The human tendency to gravitate towards others who are similar to us in some way
Key takeaways:
• Homophily is a powerful predisposition that most of us don't even realize we have.
• It happens so regularly in daily life that most of us don't even realize we do it.
Transcript:
Speaker 1
Some of the biggest problems in the world today are the result of mismanagement and corruption. But there are also many serious problems that stem from the internal architecture and predispositions of the human mind. One of those powerful predispositions is that we gravitate toward people who are similar to us in some way. It's a phenomenon known as homophily. At Stanford University, Matthew Jackson says this happened so regularly in daily life that most of us don't even realize we do it.)
- Time 0:29:52
- behavior, prejudice, bias, connection, networking, psychology, social networks, favorite, 1todo evernote,