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Bill Gates is a 'rational optimist' – and maybe you should be too

Nov 09, 2023 - businessinsider.com
Psychologist and money expert Morgan Housel attributes Bill Gates' success to his ability to balance optimism and pessimism, describing him as a "rational optimist". In his new book, Housel explains that this approach, which involves preparing for short-term setbacks while maintaining a positive outlook for the future, can be applied to any field. He cites Gates' cautious approach to Microsoft's finances as an example of this rational optimism.

Gates, who was the world's richest person for most of the period between 1995 and 2017, is now applying his rational optimism to AI. Despite acknowledging the short-term issues associated with artificial intelligence, Gates remains optimistic about its future, stating that the risks can be managed.

Key takeaways:

  • Bill Gates' success is attributed to his ability to balance optimism and pessimism, a trait described as 'rational optimism' by psychologist and money expert Morgan Housel.
  • 'Rational optimism' involves preparing for short-term setbacks while maintaining an optimistic outlook for the future, and can be applied to any field of life.
  • Gates' cautious approach to finances, ensuring Microsoft always had enough to survive for the next 12 months even with no revenue, is an example of this rational optimism.
  • Gates is now applying his rational optimism to AI, acknowledging the short-term issues but expressing optimism about its future.
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