Charlie Munger on the need to destroy bad ideas: I’m very busy destroying bad ideas because I keep having them. It’s hard for me to just single out one from such a multitude. But I actually like it when I destroy a bad idea because … I think it’s my duty to destroy old ideas. I know so many people whose main problem in life is that the old ideas displace the entry of new ideas that are better. That is the standard in life. There’s an old German folk saying: "We’re too soon old and too late smart." That’s everybody’s problem. And the reason we’re too late smart is that the stupid ideas we already have, we can’t get rid of! In most fields you want to get rid of your old ideas. Pounding, pounding And it’s a good habit, and it gives you a big advantage in the competitive game of life since other people are so very bad at it. What happens is, as you spout ideas out, you’re pounding them in. And so you get these ideas and then you start agitating and saying them and so forth. And, of cour...
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