The Luckier You Are The Nicer You Should Be Collab Fund

04/03/2023, 16:31 The Luckier You Are The Nicer You Should Be · Collab Fund
ABOUT SHARED FUTURE SOS C U R R E N CY PUBL
The Luckier You Are The Nicer

You Should Be
MAR 2, 2023 SHARE ↓
by Morgan Housel
@morganhousel
A
n important skill – an incredibly hard one – is identifying
when things in your life are temporarily too good, and
preparing for the inevitable adjustment.
It’s so difficult, because most people’s willingness to put up

with hard times relies on the idea that you’ll eventually be
rewarded with good times. When good times come, you feel like you earned it,
and nothing is easier to justify than deserved reward.
But there’s an irony here.
When most people experience bad times they consider it risk – the idea that a
force outside of their control influenced outcomes more than anything they did
intentionally.
https://collabfund.com/blog/the-luckier-you-are-the-nicer-you-should-be/ 1/5
Rarely is that logic turned around.

Because what’s the opposite of risk? Luck. And what is luck? The idea that a force
outside of their control influenced outcomes more than anything they did
intentionally.
It’s the same thing as risk, just in the other direction.
Nothing too good or too bad stays that way forever, because great times plant the
seeds of their own destruction through complacency and leverage, and bad times
plant the seeds of their own turnaround through opportunity and panic-driven
problem-solving.
Everything is cyclical. But the way we deal with risk vs. luck couldn’t be further
apart. One is instantly recognized and we can’t wait until it’s over, the other
causes instant denial that it might ever end.
It happens in investing, where every decline has to be explained and blamed on

someone else, but every increase is usually accepted and attributed to your own
intelligence.
It happens in business – so many big tech companies are laying off workers
because they assumed the Covid-19 business bump would remain permanent.
It happens in careers, where everything from cheap money to macro tailwinds

can shift the gap between how much you earn and how much value you produce.
It’s been like that forever, and always will be. People are much more attuned to
negative anomalies than positive ones, especially for things that impact their own
lives. It’s such a hard thing to manage.
And there are no easy answers on how to manage it. There are so many things in
life where distinguishing between sustainable momentum and temporary luck is
only known with hindsight.
Maybe the broadest way to protect yourself is the simple rule that the luckier you
are, the nicer you should be.
The more successful you are, the nicer you should be.
The better things are going, the nicer you should be.
That’s probably the best – or only – way to guard against entitlement, which is the
main thing that blindsides you when luck turns the other way.
It’s like an automatic stabilizer that keeps you in check and keeps your social
circles solid – both of which probably lead to sustainable, durable, non-lucky
success over time.
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04/03/2023, 16:31 The Luckier You Are The Nicer You Should Be · Collab Fund

ABOUT SHARED FUTURE SOS C U R R E N CY PUBL

The Luckier You Are The Nicer

MAR 2, 2023 SHARE ↓

It’s so difficult, because most people’s willingness to put up

But there’s an irony here.

Rarely is that logic turned around.

It’s the same thing as risk, just in the other direction.

It happens in investing, where every decline has to be explained and blamed on

It happens in careers, where everything from cheap money to macro tailwinds

Sign up for more Collab Fund content

Your email SIGN UP

How It All Works (A Few Short Stories)

A few short stories whose lessons apply to many things…

Risk and Regret

David Cassidy’s last words were, “So much wasted time.”.

Everything You Can't Have

Collaborative is a leading source

Sign up for updates ↗

Subscribe to the blog ↗

Collaborative Fund Management LLC, Collaborative Holdings Management LP and Collab+Currency

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