99 Years of Charlie Munger Wisdom in 44 Minutes

**Shaan Puri** (0:00)
Today, there's gonna be literally a thousand threads that are Charlie Munger was, lived till 99 Here's 99 lessons I learned, and they're gonna regurgitate the stupid quotes in Wikipedia.
But this is my first, but we do things differently around here. We're not just gonna give you the regurgitated quotes. I gotta give you that little special jus, that ol jus that you can dip that sandwich in.
Charlie Munger has died at age 99, and all around the world, people are remembering Charlie, this guy who was Warren Buffett's business partner. Bill Gates called Charlie maybe the broadest thinker he knows. He said that he has the best 32nd brain of anybody he's ever met.
And we wanted to dissect that brain. What's inside that? What made Charlie so prolific? Why did Warren Buffett say that Berkshire is shaped in the mold of Charlie Munger, and that he is one of the smartest and wisest men he's ever met?
And we pulled out seven of the big ideas. Charlie said a lot of things over the years, but we identified what we think are the seven big, big bits of wisdom that Charlie has shared. And what we wanted to do was instead of just making a listicle, which you're gonna see a lot today, you're gonna see people on Twitter, every thread boy is gonna be like, Charlie Munger died at 99, here's the 99 bits of wisdom, and they're gonna copy paste Wikipedia. We didn't wanna do that. What we wanted to do was take the seven that we thought were really, really impactful, and specifically tell a story of how we learned that lesson in our own business life or in our life.
It made for, I think, a pretty amazing episode. I told Sam, I said, dude, this notes document that we have for this episode, the thing is, you got a handkerchief? This thing is dripping with wisdom. And that's how you're gonna feel at the end of this podcast. You're gonna need to take a shirt, you're gonna need to wipe the old podcast player because this episode is about to be dripping with wisdom. I hope you enjoy this episode on the seven bits of wisdom from Charlie Munger.
All right, we're gonna get back to the episode in a second, but I gotta tell you about our sugar daddies, the ones who make these episodes possible. That's right, we're talking about HubSpot because it's Q4 and this is where deals get closed. This is where in my company, we call people champions when they close the year strong. If you wanna hit your revenue targets, you need a little help. You gotta be using HubSpot's Sales Hub. It is a way to supercharge your sales process so that you have one place where you can find, track and close all your deals. You gotta be organized. You gotta be on top of things. You gotta be taking the data from one place, the tools. You gotta get your whole team involved. That's why you need Sales Hub. I gotta tell you, you gotta stop sticking to the old strategies that we're getting in the old result and start closing more deals with HubSpot's Sales Hub. So go ahead, make the switch to HubSpot's Sales Hub at hubspot.com/sales. All right, let's get back to the podcast. All right, so let's jump into the wisdom. So what I think would be fun is we just sort of trade our favorites because this guy's got little quips or quotes about the way the world works, about the way mines work, about the way the markets work.

**Sam Parr** (2:54)
All right, you go first.

**Shaan Puri** (2:55)
Okay, I'll start with a very easy one. So one of his big ideas is to get what you want, you need to deserve what you want.
And so he says, the easiest way to get everything that you want is to deserve it. And it's so simple that it's almost like obnoxiously simple this advice. If you want the partner you want, you should be deserving of that level of partner, right? Make yourself worthy of a partner like that. Same thing with investments. He kind of calls out a few things that money can't buy. So he's like, trust in other people, success and admiration. Those are things you cannot buy, you can only earn. And so if you want somebody's admiration, deserve it. If you want somebody's trust, deserve it. If you want success, deserve it. And I'll share like a very simple, more practical anecdote about this. Because again, like his big ideas are amazing, but they just sort of float in the clouds unless you bring it to earth with a real tactical example. So when we sold the Milk Road, I've said this before, but one of the reasons we sold to the guys we did was I really, really respected these guys. It was not the highest offer, but these were the highest quality people that we could sell to. And we just had a hunch that like selling to the highest quality people will result in the best long-term outcome.