Latest / Masters in Business / Dan Harris on Becoming a Business-Minded Entrepreneur
Transcript
- 0:02Speaker 1: This is Master's in Business with Barry rid Holds on
- 0:06Speaker 1: Bloomberg Radio this weekend on the podcast Wow, I have
- 0:12Speaker 1: a fun, extra fun, extra special Anyway, I have a
- 0:15Speaker 1: really fun guest. Dan Harris wrote the book Ten Percent Happier.
- 0:20Speaker 1: It's a short read on how he was kind of
- 0:24Speaker 1: messed up, depressed, using drugs and literally had a panic
- 0:29Speaker 1: attack on Live TV where he was a newsreader and
- 0:33Speaker 1: an anchor. And he tells the story of how he
- 0:36Speaker 1: sort of stumbled his way into mindfulness and meditation. And
- 0:41Speaker 1: what I really found fascinating about the book is there
- 0:44Speaker 1: are no great promises. This isn't going to change your life.
- 0:47Speaker 1: It's called ten percent Happier because hey, if you can
- 0:50Speaker 1: make your life ten percent better, that sounds like worthwhile
- 0:54Speaker 1: trade to me. And Dan is a fascinating guy. Really
- 0:58Speaker 1: tells a wonderful story of about how he stumbled into this
- 1:03Speaker 1: area of self help and how it really helped turn
- 1:09Speaker 1: his depression and his life around. And I found Dan
- 1:12Speaker 1: to be a fascinating guy who really has a good
- 1:16Speaker 1: sense of human psychology and the condition we're all born
- 1:21Speaker 1: into and teaches us practically how to make the best
- 1:26Speaker 1: of the wetwear that we've all inherited. I thought this
- 1:29Speaker 1: was fascinating conversation and I think you will find it
- 1:32Speaker 1: so also, with no further ado, my conversation with ten
- 1:37Speaker 1: percent Happiers Dan.
- 1:39Speaker 2: Harris, Thank you Berry, happy to be here.
- 1:41Speaker 1: So let's talk a little bit about your background. Bachelor's
- 1:45Speaker 1: in English at Colby College was the plan Oway's journalism.
- 1:48Speaker 1: From day one.
- 1:49Speaker 2: I had TV news and the movies mixed up in
- 1:53Speaker 2: my mind. I kind of thought they were the same thing.
- 1:57Speaker 1: So I sometimes they are.
- 1:59Speaker 2: Yes, Yes, I had this desire to do something fun
- 2:05Speaker 2: and glamorous. TV news is fun, but not very glamorous.
- 2:09Speaker 2: But I went and did film school here in New
- 2:12Speaker 2: York City at NYU for a semester while I was
- 2:15Speaker 2: at Colby College, and it was not very good at film,
- 2:18Speaker 2: but I did love the documentary course I took. So
- 2:20Speaker 2: I then took a lot of internships and TV news
- 2:23Speaker 2: and then I went off in that direction.
- 2:24Speaker 1: So glamorous, You're in Baghdad covering the war, you fly
- 2:28Speaker 1: right into the middle of Katrina. That seems like sexy,
- 2:32Speaker 1: real stuff happening. Was some of television glamorous.
- 2:36Speaker 2: Yeah, I think when I got to the national and
- 2:39Speaker 2: international level, it was pretty glamorous. I was more talking
- 2:43Speaker 2: about right out of college. I spent seven years in
- 2:45Speaker 2: local news in places like bangor main or Portland, Maine.
- 2:48Speaker 2: I was covering tire fires and murders with a musket
- 2:51Speaker 2: and like lots of random stuff.
- 2:54Speaker 1: So let's forward a little bit. Not only you at
- 2:57Speaker 1: ABC for a while, but eventually they you to be
- 3:00Speaker 1: a fill in nights and weekends and late and then
- 3:04Speaker 1: you get a call to fill in working with you know,
- 3:07Speaker 1: some of the bigs, and you have what can only
- 3:11Speaker 1: be described as a panic attack on live television. Tell
- 3:15Speaker 1: us about that experience.
- 3:17Speaker 2: It was awful. This was two thousand and four. I
- 3:22Speaker 2: was filling in as a newsreader. That's like the person
- 3:26Speaker 2: would come on at the top of each hour and
- 3:28Speaker 2: read the headlines on Good Morning America. And I was
- 3:31Speaker 2: a few seconds into my spiel and just lost it
- 3:34Speaker 2: and my heart started racing, lungs seized up, I couldn't breathe,
- 3:38Speaker 2: which is inconvenient if you're trying to do the news
- 3:41Speaker 2: that can be Yeah, it what didn't work And I
- 3:45Speaker 2: had to quit right in the middle of my thing.
- 3:47Speaker 2: And it was super humiliating, very scary, and I you know,
- 3:54Speaker 2: in the end it turned out to be a really
- 3:55Speaker 2: good thing for me, But in the moment, it was
- 3:57Speaker 2: the most embarrassing moment of mine.
- 3:59Speaker 1: Now, to be fair, and you can find it on
- 4:01Speaker 1: YouTube and elsewhere. You look like you're in a little
- 4:05Speaker 1: bit of distress, you have a little bit of difficulty breathing.
- 4:09Speaker 1: I'm sure it felt much worse on the inside. But
- 4:12Speaker 1: credit to you. You kind of kept it together long
- 4:15Speaker 1: enough to finish one of the segments and then tapped out,
- 4:19Speaker 1: even though you had a couple more segments to go.
- 4:22Speaker 1: Unless you were paying close attention, I think the average
- 4:26Speaker 1: viewer might not have noticed anything other than suddenly, the
- 4:29Speaker 1: video doesn't match what's going on.
- 4:31Speaker 2: Yeah, I mean it helps to be a sociopath, you know,
- 4:33Speaker 2: like I can really hide my emotions. I think you know.
- 4:37Speaker 2: I was thirty two at the time. I had spent
- 4:39Speaker 2: basically my whole adult life on camera. I really knew
- 4:42Speaker 2: how to keep it together in every circumstance. I'd been
- 4:45Speaker 2: in war zones, and so, yes, you're right, when you
- 4:47Speaker 2: look at the video, it's not like I'm there's flop
- 4:50Speaker 2: sweat and I'm ripping the mic off and running right
- 4:52Speaker 2: with the.
- 4:52Speaker 1: Scene from broadcast news with Albert Brooks like just drenched
- 4:56Speaker 1: as always cracks me up. But that said, it leads
- 5:00Speaker 1: to the obvious question. You've been in harrowing situations where
- 5:04Speaker 1: there's death and destruction literally, not no hyperbole. You were
- 5:08Speaker 1: in Iraq and Baghdad and Katrin and a bunch of
- 5:11Speaker 1: other horrific situations. What led up to this moment that
- 5:16Speaker 1: made it so disorient I.
- 5:17Speaker 2: Think it was being in horrific situations and then coming
- 5:22Speaker 2: home and having undiagnosed depression and anxiety, and then self
- 5:28Speaker 2: medicating with recreational drugs.
- 5:31Speaker 1: I love the expression self medicating. We're just getting high.
- 5:34Speaker 2: This is what you're saying, Yes, getting high before we
- 5:38Speaker 2: self medicate or get high with lots of stuff, sure, shopping, gambling, entertainment,
- 5:44Speaker 2: social media, sex, we are food.
- 5:49Speaker 1: There were constant being junkies as.
- 5:51Speaker 2: We're soothing this this inner insatiability, this inner fear. And
- 5:58Speaker 2: so for me it was cocaine. And I was not
- 6:00Speaker 2: high when I was on the air having the panic attack,
- 6:03Speaker 2: So it was only afterwards when I went to a
- 6:05Speaker 2: shrink and he asked, what you know, do you do drugs?
- 6:08Speaker 2: Could that may be a contributor? And I was like, oh, yeah,
- 6:11Speaker 2: well I don't really do drugs, just some blow on
- 6:12Speaker 2: the weekend and then I'm back on the desk ready
- 6:16Speaker 2: to go.
- 6:17Speaker 1: So let's talk about how this led. I hate the
- 6:21Speaker 1: expression journey, but how this led to your next couple
- 6:24Speaker 1: of steps. Your preconceptions about meditation were misconceptions, you write
- 6:30Speaker 1: in the book tell us why It's funny.
- 6:31Speaker 2: I hate the word journey too. It's like, right, I
- 6:34Speaker 2: feel it's so it's so wilful. It's also it's just
- 6:38Speaker 2: like played out. It's hackneyed, cliche, And I think a
- 6:41Speaker 2: big being personicity about language, or like being picky about
- 6:46Speaker 2: the words that I use, is really the only value
- 6:49Speaker 2: that I'm adding here. I know we're going to talk
- 6:51Speaker 2: about business, but for me, I mean I am really
- 6:55Speaker 2: interested in meditation or what might be called spirituality, but
- 6:59Speaker 2: the way presented so often with words like journey and
- 7:03Speaker 2: heart centered and.
- 7:04Speaker 1: Very woo, it's it's uh. And kudos for using the
- 7:07Speaker 1: word persnickety, which is a great word. I really appreciate it.
- 7:11Speaker 2: As soon as it came out of my mouth, I
- 7:12Speaker 2: was like, oh my god.
- 7:13Speaker 1: No, no, that that works. So we don't love the
- 7:17Speaker 1: wou side of dressing up what is really a way
- 7:21Speaker 1: to quiet the inner voice that sometimes is really noisy,
- 7:27Speaker 1: which leads us to the next step on your path.
- 7:31Speaker 1: And again, sorry, you end up either seeing or meeting
- 7:36Speaker 1: Eckhart tool tell us a little bit about and I'm
- 7:39Speaker 1: not pronouncing his name.
- 7:40Speaker 2: Right, it's a hard name to pronounce, right, But tell
- 7:42Speaker 2: us a little bit about him. Okay. So the first
- 7:44Speaker 2: thing that happened is I got assigned to cover faith
- 7:46Speaker 2: and spirituality for ABC News, which I didn't want to do,
- 7:49Speaker 2: but it turned out to be great and I learned
- 7:52Speaker 2: a lot. And through that I ended up reading a
- 7:55Speaker 2: book by a guy named Eckhart. Totally is the way
- 7:58Speaker 2: he pronounce it, okay, huge selling self help guru. I
- 8:02Speaker 2: never heard of him because I wasn't interested in self help,
- 8:05Speaker 2: but one of my producers recommended I read his book.
- 8:07Speaker 1: Tell us about tole and what did you learn from?
- 8:09Speaker 2: So he presents, at least to my eyes and ears
- 8:14Speaker 2: then as just totally off putting. You know, he has
- 8:19Speaker 2: this otherworldly ethereality to him. He's this small German Man
- 8:24Speaker 2: who writes about having a spiritual awakening and he uses
- 8:28Speaker 2: the word vibration a lot. He was not really my
- 8:31Speaker 2: cup of tea robes. But but, but I wouldn't be
- 8:36Speaker 2: surprised if he given what I read in his book,
- 8:40Speaker 2: I wouldn't have been surprised if that's how he showed up.
- 8:42Speaker 2: But he's actually just like a guy who wears khakis.
- 8:45Speaker 2: So at first I was very unimpressed with him, But
- 8:48Speaker 2: then he started to unfurl this thesis about the human
- 8:52Speaker 2: condition that was utterly captivating for me. His argument is
- 8:57Speaker 2: that we all have a voice in our heads, by
- 8:59Speaker 2: which he's not referring to schizophrenia or hearing voices. He's
- 9:01Speaker 2: talking about the inner dialogue, the inner conversation that we
- 9:04Speaker 2: all have all the time, and that if we broadcast allowed,
- 9:08Speaker 2: we would be locked up.
- 9:10Speaker 1: This were canceled at the very least for.
- 9:12Speaker 2: Damn sure, you'd be canceled. And for all of us,
- 9:15Speaker 2: like we wake up, we get you know, chased out
- 9:17Speaker 2: of bed by this voice, and it's yammering at us
- 9:19Speaker 2: all day long, constantly, we're wanting things, not wanting things,
- 9:22Speaker 2: judging people, comparing ourselves to other people, running ourselves down.
- 9:26Speaker 2: And when you're unaware of this NonStop conversation, which totally
- 9:30Speaker 2: calls the ego, when you're unaware of the ego it
- 9:34Speaker 2: owns you. And that to me was a huge aha,
- 9:37Speaker 2: because I was like, Okay, this is just true and
- 9:40Speaker 2: I've never heard it before. A and B this ego,
- 9:43Speaker 2: this voice in my head is what led me to
- 9:45Speaker 2: have a panic attack. I went off to cover war zones.
- 9:49Speaker 2: My boss at the time was your colleague David Weston.
- 9:53Speaker 2: I went off and covered war zones without thinking about
- 9:55Speaker 2: the psychological consequences, came home, got depressed, was insufficient self
- 10:00Speaker 2: aware to know I was depressed, and then blindly self
- 10:02Speaker 2: medicated or got high, and then it all blew up
- 10:06Speaker 2: in my face and it was all the ego and
- 10:09Speaker 2: so that got me. Really that changed my life, And
- 10:12Speaker 2: that's an overused phrase, but that is genuinely true. Reading
- 10:14Speaker 2: that book changed my life.
- 10:16Speaker 1: So you go from the tole a book name of
- 10:19Speaker 1: it is.
- 10:20Speaker 2: The one I read is called a New Earth.
- 10:22Speaker 1: But he has like a run of books, a whole
- 10:25Speaker 1: run of books.
- 10:25Speaker 2: He's written a whole bunch of books.
- 10:27Speaker 1: And from there you start meditating, tell us about what
- 10:33Speaker 1: that initial experience was and when you realized, hey, this
- 10:36Speaker 1: is something I could do on a regular basis.
- 10:38Speaker 2: So totally is frustrating because he describes the voice in
- 10:42Speaker 2: the head very well, but doesn't actually give you anything
- 10:44Speaker 2: to do about it. A friend of mine has joked
- 10:46Speaker 2: that he's correct, but not useful, so I was frustrated
- 10:49Speaker 2: after meeting him. It was only after bouncing around for
- 10:52Speaker 2: a little while in the aftermath of that, that I
- 10:54Speaker 2: stumbled upon meditation. And this was like two thousand and eight,
- 10:57Speaker 2: two thousand and nine, so it was before meditation got cool.
- 11:00Speaker 2: It was cool in the sixties and then it then
- 11:01Speaker 2: it got uncool, and then it got cool again. And
- 11:03Speaker 2: like the early oughts, it definitely comes and goes TM
- 11:06Speaker 2: and transcendent meditation was huge for a while, and now
- 11:10Speaker 2: it's got all sorts of different names. So what was
- 11:13Speaker 2: your gateway drug to meditation?
- 11:15Speaker 1: How did you find you.
- 11:16Speaker 2: With the science? I started reading about all this science
- 11:18Speaker 2: that at that point was not well publicized that showed
- 11:21Speaker 2: that meditation can rewire key parts of your brain, help
- 11:24Speaker 2: with anxiety and depression, both of which I've been dealing
- 11:26Speaker 2: with since as a kid. It can help with your
- 11:29Speaker 2: blood pressure, boost your immune system. So as a diet
- 11:31Speaker 2: in the wool optimizer, the science really made me, you know, intrigued.
- 11:37Speaker 2: I was like, oh, okay, maybe I should try this.
- 11:39Speaker 2: I also thought as a journalist, and you'll you'll relate
- 11:42Speaker 2: to this barrier. Is like, since the science was not
- 11:45Speaker 2: well known, I was like, oh, this is a good story.
- 11:48Speaker 2: Nobody else is on this story. It's one of the
- 11:50Speaker 2: first times in my life I've ever really been ahead
- 11:52Speaker 2: of a trend. And so I started trying it, and
- 11:55Speaker 2: I started with a couple of minutes a day, and
- 11:57Speaker 2: it was super hard. It was very frustrating. You know,
- 12:00Speaker 2: when you sit usually, and we don't have to get
- 12:02Speaker 2: too into the details here, but meditation basically involves sitting,
- 12:05Speaker 2: closing your eyes, trying to focus on one thing. Usually
- 12:08Speaker 2: it's the feeling of your breath coming in and going out.
- 12:10Speaker 2: You're not breathing deeply, you're just feeling the breath as
- 12:13Speaker 2: it normally occurs. And then every time you get distracted,
- 12:17Speaker 2: which is going to happen a million times because our
- 12:19Speaker 2: minds are wild, you start again and again and again.
- 12:22Speaker 2: But that last part is really hard because it's like
- 12:26Speaker 2: holding a while a live fish in your hands, Like
- 12:28Speaker 2: the mind is so squirrely and out of control and
- 12:31Speaker 2: constantly planning and asking stupid questions, and you know, where
- 12:34Speaker 2: do journals run wild and blah blah blah, and it's
- 12:38Speaker 2: very easy to get discouraged and to think you're failing
- 12:40Speaker 2: at this. And so I struggle with that at first,
- 12:42Speaker 2: and I think most people do.
- 12:44Speaker 1: Hum. I was struck reading the book how similar some
- 12:48Speaker 1: of the advice about mindfulness is to good investing advice.
- 12:53Speaker 1: And I'm gonna give you a few lines that I
- 12:56Speaker 1: pulled out from the book about how your experience and
- 13:01Speaker 1: I can't help but point out how similar it is
- 13:03Speaker 1: to good investing advice. Let's start with striving for success
- 13:07Speaker 1: is fine as long as you realize the outcome is
- 13:10Speaker 1: not under your control. Tell us about that.
- 13:12Speaker 2: First of all, I think it's a really good insight
- 13:13Speaker 2: on your part. I do think there is a big
- 13:16Speaker 2: overlap between the sanity you want to bring to your
- 13:20Speaker 2: everyday mind and the sanity you want to bring specifically
- 13:23Speaker 2: to this important area of life investing. So non attachment
- 13:28Speaker 2: to results. That's a very sort of clunky phrase that
- 13:32Speaker 2: the Buddhists have given us, but it basically means that
- 13:34Speaker 2: we live in a world that is utterly out of
- 13:37Speaker 2: our control, and so all we can do there's a
- 13:41Speaker 2: great expression, all we can do is everything we can do.
- 13:43Speaker 2: You can work as hard as you want, you can
- 13:46Speaker 2: think as analyze the market is as assiduously as possible.
- 13:50Speaker 2: But things are not fully in our control. So if
- 13:55Speaker 2: you can have this attitude of like, I'm going to
- 13:58Speaker 2: do everything I can do and recognize eyes that I
- 14:01Speaker 2: cannot control the outcome, I should not be attached to
- 14:04Speaker 2: specific results. I think that's a recipe for happiness generally
- 14:08Speaker 2: and good investing.
- 14:10Speaker 1: Yeah, the best traders I know focus on the process,
- 14:14Speaker 1: not the results, because if you have a good process,
- 14:18Speaker 1: even if you have a great process, sometimes outside listen,
- 14:21Speaker 1: we can't control what the Fed's gonna do, well, what
- 14:23Speaker 1: corporate earnings are, or hey, this debt sealing thing, maybe
- 14:26Speaker 1: it works, maybe it doesn't. But the results are only
- 14:31Speaker 1: gonna be as good as your process. Plus some randomness
- 14:34Speaker 1: of the world.
- 14:35Speaker 2: Absolutely, China shuts down, supply chains get clogged, there's a
- 14:41Speaker 2: monsoon in India. I mean, there are so many factors
- 14:44Speaker 2: that are hard to predict, political upheavals, and so what
- 14:49Speaker 2: do you want to do? Do you want to beat
- 14:50Speaker 2: yourself up every time something happens that's outside of your control.
- 14:53Speaker 2: Is that gonna help your resilience? Is that gonna make
- 14:56Speaker 2: your team feel happy to be at the office. No,
- 15:00Speaker 2: what you want to do is have a good process
- 15:02Speaker 2: and hope for the best.
- 15:03Speaker 1: So another one, a simple question to ask yourself when
- 15:06Speaker 1: you're worrying. Quote is this useful? And I find that
- 15:10Speaker 1: to be fascinating. I frequently get calls from clients freaked
- 15:14Speaker 1: out about I just saw this new story on TV.
- 15:17Speaker 1: What good does worrying about it do? What value is
- 15:21Speaker 1: that stress?
- 15:22Speaker 2: Sometimes sometimes some amount of worrying and stress helps I
- 15:27Speaker 2: call it constructive anguish motivation. Yeah, or just like thinking
- 15:32Speaker 2: through the angles. You know, there's a little bit of
- 15:34Speaker 2: hand rigging, and you know, you know, there's a great expression,
- 15:38Speaker 2: never worry alone. So I think talking to you, talking
- 15:41Speaker 2: to your colleagues, or your friends, or your spouse about
- 15:44Speaker 2: investing or anything else actually makes a lot of sense. However,
- 15:48Speaker 2: we tend to take our worrying too far. And on
- 15:51Speaker 2: the seventeenth time that you're running through all the horrible
- 15:54Speaker 2: things that are going to happen if you don't get
- 15:56Speaker 2: the ROI you were looking for, or if you miss
- 15:59Speaker 2: your flight or whatever where it is, maybe ask yourself
- 16:02Speaker 2: at that moment, is this useful? Would I be better
- 16:04Speaker 2: off changing the channel and thinking about something else.
- 16:08Speaker 1: So this kind of reflects the title itself. Small improvements,
- 16:13Speaker 1: incremental changes are much more viable than giant transformational wins.
- 16:19Speaker 1: That's a huge insight.
- 16:21Speaker 2: How many times have you had giant transformational moments They
- 16:25Speaker 2: don't come across or come they don't come over the
- 16:28Speaker 2: transom that often, And often what you think is a
- 16:32Speaker 2: giant transformational moment becomes a good memory but doesn't get
- 16:35Speaker 2: integrated into your life. Change is hard changes, that's the
- 16:40Speaker 2: bad news. The good news is it's totally doable. If
- 16:43Speaker 2: you commit to making small changes. The ten percent happier
- 16:49Speaker 2: will compound annually like any good investment, and that is
- 16:53Speaker 2: incredibly good news. Happiness, calm, equanimity, connection, compassion, all of
- 17:01Speaker 2: the mind states that we want. Just as a brief aside,
- 17:04Speaker 2: we may think we want money, power, success, but really
- 17:09Speaker 2: what we want when it comes down to it, the
- 17:11Speaker 2: elementary particles of being alive is mind states. We want
- 17:15Speaker 2: to feel specific ways, and these mind states are all
- 17:20Speaker 2: skills that you can train and take responsibility for, and
- 17:23Speaker 2: that is incredible news. The mind is trainable. You can
- 17:27Speaker 2: see it on the brain scans. You take a baseline
- 17:29Speaker 2: reading of somebody's brain in an fMRI and then have
- 17:32Speaker 2: them do meditation for a couple of weeks, put them
- 17:34Speaker 2: back in the scan. Brain is different. The brain can
- 17:38Speaker 2: be trained, and so extent by extension can the mind,
- 17:41Speaker 2: and that is radically uplifting news.
- 17:44Speaker 1: Here's another quote that I really like. Mindfulness represents an
- 17:48Speaker 1: alternative to living reactively. Yes, so let's talk about the
- 17:53Speaker 1: difference between reacting and responding, which you describe as two
- 17:58Speaker 1: very different ways to interact.
- 18:01Speaker 2: With some input, I can imagine a lot of people
- 18:04Speaker 2: who are in the world of investing or finance business
- 18:07Speaker 2: generally having the feeling that if they get too happy,
- 18:10Speaker 2: they'll lose their edge, and that is not what this
- 18:15Speaker 2: skill is all about. There's a reason why you see
- 18:18Speaker 2: people in c suites and locker rooms meditating because it
- 18:23Speaker 2: makes you more sharp, less emotionally reactive. So what you
- 18:28Speaker 2: want is the ability, as you said earlier, to respond
- 18:31Speaker 2: wisely to things that happen in your life, rather than
- 18:34Speaker 2: being captive to the malevolent puppeteer of your ego that's
- 18:40Speaker 2: going to have you making stupid decisions, saying the thing
- 18:43Speaker 2: that's going to ruin the next forty eight hours of
- 18:45Speaker 2: your marriage, eating the sleeve of oreos just because some
- 18:48Speaker 2: little thought popped into your head. You want to be
- 18:50Speaker 2: able to respond wisely to your internal stimuli and your
- 18:53Speaker 2: external stimuli, so they are surfing all of the changes
- 18:56Speaker 2: of life rather than drowning in.
- 18:57Speaker 1: Them, surfing the changes of life like that. I have
- 19:00Speaker 1: a colleague, Mike Batnik, who has this wonderful chart going
- 19:04Speaker 1: back thirty forty years and it's called reasons to Sell.
- 19:08Speaker 1: And you see, every year there's some crazy thing that
- 19:11Speaker 1: happens that's an excuse to react and sell. But over
- 19:15Speaker 1: the whole time, that chart goes from the lower left
- 19:17Speaker 1: to the upper right, and the markets compound and go
- 19:21Speaker 1: over time. If you react to the reasons to sell,
- 19:25Speaker 1: you miss out on that big move up. And I
- 19:28Speaker 1: see parallels in the book for just how we live
- 19:30Speaker 1: our everyday lives.
- 19:31Speaker 2: Absolutely, yeah, you don't want to miss out on dollar
- 19:33Speaker 2: cost averaging because you're freaking out about every little jot
- 19:37Speaker 2: and tittle in the news. I've like you. I also
- 19:41Speaker 2: have a podcast also it mine is called ten Percent Happier,
- 19:44Speaker 2: and we spend quite a bit of time talking about
- 19:46Speaker 2: the psychology of money and because that's a huge part
- 19:50Speaker 2: of the human condition. We need money, but we also
- 19:53Speaker 2: don't want to get so obsessed with it that we
- 19:56Speaker 2: make irrational decisions.
- 19:58Speaker 1: So you mentioned executives, athletes, a lot of wool streeters
- 20:02Speaker 1: very famously meditate, Ray Dallio, pol Tutor Jones, Michael Novogratz,
- 20:07Speaker 1: Dan Loebe. The list goes on and on on. Have
- 20:09Speaker 1: you worked with any people in finance and how have
- 20:12Speaker 1: you found their intensity level and their ability to throttle
- 20:17Speaker 1: back a little bit?
- 20:18Speaker 2: Well, then there's acts and billions.
- 20:20Speaker 1: Well, I'm trying to stay away from the fictional character.
- 20:24Speaker 2: It's very interesting get I do a lot of corporate speaking,
- 20:26Speaker 2: and a lot of banks bring me in investment banks,
- 20:30Speaker 2: big banks, And I think it's really about wanting to
- 20:35Speaker 2: wanting to have people who are a more business friendly term,
- 20:38Speaker 2: might be emotionally intelligent, who can ride the waves, you know,
- 20:45Speaker 2: as we said before, rather than drowning in them, and
- 20:47Speaker 2: who can be good leaders instead of acting out all
- 20:50Speaker 2: of their neurosis. These are important skills and in any field.
- 20:54Speaker 2: But I get a lot of invitations from people in finance.
- 20:59Speaker 1: You mentioned some people are concerned they would lose their
- 21:02Speaker 1: edge not be competitive. Do you have to be paranoid?
- 21:07Speaker 1: And worried all the time to stay at the top
- 21:09Speaker 1: of your game.
- 21:10Speaker 2: Do you think it helps like I. I mean, this
- 21:13Speaker 2: is something I've wrestled with a lot. To be curious
- 21:15Speaker 2: to see what your point of view is. You know,
- 21:16Speaker 2: I do a lot of worrying, but at some and
- 21:21Speaker 2: I do believe up unto a certain point, it's useful.
- 21:24Speaker 2: But at some point it's completely degrading my judgment. It's
- 21:27Speaker 2: degrading my sleep, it's degrading my capacity to have an
- 21:32Speaker 2: open mind with peripheral vision for new opportunities because I'm
- 21:36Speaker 2: coiled into anger or fear. You know, only a certain
- 21:41Speaker 2: amount of it is useful, and I just I can't
- 21:44Speaker 2: see the argument for being it being perpetually useful.
- 21:47Speaker 1: So the key, since you asked me, I'll answer. The
- 21:50Speaker 1: key from my perspective is you have to worry about
- 21:54Speaker 1: the right things and recognize. So my favorite joke is
- 22:00Speaker 1: talking to a manager who is complaining about the FED.
- 22:03Speaker 1: First it was quantitative easing, and then it was zero
- 22:06Speaker 1: interest rates, and they're complaining, complaining, complaining, And I in
- 22:09Speaker 1: the back of my head, I'm always thinking, Oh, this
- 22:12Speaker 1: guy's underperformed for a decade and he's blaming the Fed.
- 22:15Speaker 1: That's very different than saying, Hey, the Fed is talking
- 22:19Speaker 1: a lot about inflation in twenty twenty one, and it
- 22:22Speaker 1: sounds like they're going to rapidly raise rates. What happens
- 22:26Speaker 1: when rates go up rapidly, Well, it's very bad for
- 22:29Speaker 1: long dated bonds. I got to tighten my duration and
- 22:32Speaker 1: known shorter dated bonds so they won't take a ten
- 22:36Speaker 1: or a twenty percent hit if rates do go much higher.
- 22:40Speaker 1: That seems to be a more responsive way of worrying,
- 22:45Speaker 1: as opposed to just freaking out about something that's out
- 22:49Speaker 1: of your control.
- 22:49Speaker 2: I love what you said, worrying about the right things.
- 22:52Speaker 2: Prioritize your worry and then stop it, and you know,
- 22:55Speaker 2: live your life, get enough sleep though. All of those
- 22:58Speaker 2: things will help your performance. Writ large and useless miismatic.
- 23:05Speaker 2: You know, constant freaking out is rarely helpful.
- 23:10Speaker 1: So explain to me how do you go from Hey,
- 23:13Speaker 1: this meditation thing helps me stay a little centered, quiets
- 23:17Speaker 1: the voices in my head to I know, I'll write
- 23:19Speaker 1: a book on this.
- 23:20Speaker 2: This is a business story, actually, because I had an
- 23:23Speaker 2: entrepreneurial feeling back in two thousand and nine. I think
- 23:27Speaker 2: that I was reading all of these books about meditation
- 23:29Speaker 2: that were really helpful, but they were also really annoying,
- 23:32Speaker 2: and they were written in a cloying sentimental way, and
- 23:36Speaker 2: I thought, well, I'm going to write one that has
- 23:38Speaker 2: the F word in it a lot, and that tells
- 23:42Speaker 2: a very embarrassing personal story. And my whole goal was
- 23:45Speaker 2: to make meditation attractive to a whole new audience of skeptics,
- 23:53Speaker 2: and that was that was an entrepreneurial itch that I had.
- 23:57Speaker 1: That's kind of interesting. I love the premise that practicing
- 24:02Speaker 1: meditation and mindfulness will make you a little happier. Why
- 24:07Speaker 1: ten percent?
- 24:08Speaker 2: It's funny. I mean it was a joke. I mean
- 24:09Speaker 2: I was. I was in a conversation with somebody, one
- 24:12Speaker 2: of my colleagues at ABC News, and she was asking me, like,
- 24:14Speaker 2: why are you into this meditation thing? What's the matter
- 24:17Speaker 2: with you? And I said I was kind of reaching
- 24:19Speaker 2: for some answer that would satisfy her, and I said,
- 24:21Speaker 2: it makes me like ten percent happier. And I could
- 24:23Speaker 2: see that it just made her go from scorn to
- 24:28Speaker 2: mild interest, and I thought, Okay, this is my shick.
- 24:31Speaker 2: I'm just going to say that. And my publishers didn't
- 24:34Speaker 2: get the joke. They were trying to bargain me up
- 24:36Speaker 2: to thirty percent happier, but you're haggling over the title.
- 24:39Speaker 2: We were haggling, but you know the idea of.
- 24:41Speaker 1: Ten percent happier, the whole concept of incremental change and
- 24:46Speaker 1: not over selling it. And here's the bar, and then
- 24:49Speaker 1: we're going to pass the bar. That's a great approach
- 24:52Speaker 1: as opposed to all the other books that promised to
- 24:55Speaker 1: transform your life and then sit on the shelf, yes,
- 24:58Speaker 1: a third read and point.
- 25:00Speaker 2: If you if they really were going to transform your life,
- 25:03Speaker 2: those authors wouldn't keep writing more books, right, And that
- 25:06Speaker 2: over promising, that kind of reckless hope that is peddled
- 25:10Speaker 2: in the darker precincts of the self help world is
- 25:12Speaker 2: I think what I was really trying to counter program against.
- 25:16Speaker 2: And like I said earlier, though the ten percent does
- 25:19Speaker 2: compound annually, these are skills and happiness and the other
- 25:24Speaker 2: mental states that we want our skills, as I keep saying,
- 25:27Speaker 2: because I think it's so important and interesting and we
- 25:29Speaker 2: can just you can continue to get to improve over time.
- 25:33Speaker 1: So the first line of the book just cracked me up.
- 25:36Speaker 1: My inner voice is an explain why your inner voice
- 25:41Speaker 1: seems to be disagreeing with you.
- 25:44Speaker 2: I think it's a pretty much a statement of the
- 25:47Speaker 2: universal you know, of the human condition. We have these gnattering,
- 25:52Speaker 2: chattering inner voices that are constantly running us down, constantly
- 25:57Speaker 2: making negative comments about other people, and that is you know,
- 26:01Speaker 2: we don't that's not actually something we should feel guilty about.
- 26:03Speaker 2: I think it's because of evolution. You know, evolution bequeathed
- 26:06Speaker 2: us this mind that is racing. Why because we need
- 26:09Speaker 2: always looking for threats, yes, sabertoothed tigers, food, sexual partners.
- 26:14Speaker 2: Because natural selection really didn't care about your happiness. It
- 26:17Speaker 2: cared about getting your DNA into the next generation. And
- 26:20Speaker 2: so that is the mind we're left with. And there
- 26:23Speaker 2: are beautiful parts of it, like without the racing mind,
- 26:26Speaker 2: we probably wouldn't have skyscrapers or the iPhone, and so, yeah,
- 26:29Speaker 2: there are a lot of great parts of the human mind,
- 26:31Speaker 2: but there are a lot of bugs in the design.
- 26:34Speaker 2: And one of the bugs is that we're never satisfied.
- 26:37Speaker 2: We're rarely satisfied, we're rarely in the present moment. And
- 26:42Speaker 2: the good news is that you can train yourself to
- 26:44Speaker 2: kind of reduce the power of those bugs.
- 26:47Speaker 1: So I don't find my inner voice to be as
- 26:51Speaker 1: distasteful as yours. But I have a very noisy internal dialogue.
- 26:57Speaker 1: It's lots of distraction, constant input. And my wife says,
- 27:04Speaker 1: you know, nothing escapes my notice with sitting out having
- 27:07Speaker 1: dinner and after every now and then she's like, tell
- 27:10Speaker 1: me about the people in that corner. So well, he
- 27:13Speaker 1: came in from the bathroom, zip was open. After the
- 27:16Speaker 1: second he walked away, the wife pulled out the phone
- 27:18Speaker 1: and stud just peripheral vision. And it's not that I'm
- 27:21Speaker 1: trying to pay attention to other stuff. It's just everything
- 27:25Speaker 1: is this fire hose of input, and then everybody in
- 27:28Speaker 1: the back of my head is having a conversation about it.
- 27:31Speaker 1: So I don't find it's like a nasty, unpleasant person
- 27:36Speaker 1: chattering away. It's just a cacophony. Yes, and I would
- 27:40Speaker 1: love to be able to sort of quiet that down
- 27:43Speaker 1: a bit.
- 27:44Speaker 2: Yeah, I mean, it's it's as with a lot of
- 27:46Speaker 2: the things I say. It's meant to be kind of
- 27:50Speaker 2: poetic language in the form of a joke, and so yes,
- 27:54Speaker 2: what you're describing isn't necessarily as noxious as some of
- 27:59Speaker 2: the thoughts that come up in my head. And yet
- 28:01Speaker 2: it is making you less happy, and in that sense,
- 28:05Speaker 2: it's so. And what my point is is that there
- 28:10Speaker 2: are practices that can turn the volume down.
- 28:14Speaker 1: So let's talk a little bit about writing the book.
- 28:16Speaker 1: I know, sometimes it's exhilarating, sometimes it's a slog, sometimes
- 28:20Speaker 1: it's both. What was your experience like putting this down
- 28:23Speaker 1: on paper. I know you spent four years writing.
- 28:26Speaker 2: This, five years, I think, ye I. Whenever anybody says
- 28:30Speaker 2: I really love writing, I think, oh, you must be
- 28:33Speaker 2: a bad writer, because it's awful. And it just took
- 28:38Speaker 2: so much sweat and grit, and I was doing it
- 28:41Speaker 2: as a side hustle. I had a full time job
- 28:43Speaker 2: as the anchor of Nightline and the anchor of Good
- 28:45Speaker 2: the weekend edition of Good Morning America. It was so hard,
- 28:49Speaker 2: and I'm now on a I'm writing the sequel right now,
- 28:51Speaker 2: and I think I'm in my sixth or seventh year.
- 28:54Speaker 1: It is just so.
- 28:55Speaker 2: Hard for me to write. I'm trying to learn these
- 28:58Speaker 2: important lessons and then give it back to you in
- 29:01Speaker 2: the form of a narrative. I want you to feel
- 29:03Speaker 2: like you're watching a movie and that you could read
- 29:05Speaker 2: it in an afternoon, because the story's good and it
- 29:08Speaker 2: tugs you along, but I need to weave in all
- 29:10Speaker 2: of these teaching points, and for me, the blocking and
- 29:13Speaker 2: tackling of that is very, very hard.
- 29:15Speaker 1: It's work, and it's very hard to do on the
- 29:18Speaker 1: side if you're just doing that. And then when I
- 29:22Speaker 1: was writing my first book, I remember I had to
- 29:26Speaker 1: do less because your discipline, your creativity, it's a very
- 29:31Speaker 1: very small tank and it gets exhausted pretty quickly. So
- 29:36Speaker 1: at the end of a long day to sit down
- 29:37Speaker 1: and pound out twenty thirty pages, that's really hard.
- 29:41Speaker 2: You're absolutely right. I mean, that's an insight. I hadn't
- 29:43Speaker 2: really thought about this. It's true. I mean, I have
- 29:46Speaker 2: retired from ABC News, so I have fewer things on
- 29:49Speaker 2: my plate, but I host a podcast which is two
- 29:52Speaker 2: almost three times a week.
- 29:53Speaker 1: That's a lot.
- 29:54Speaker 2: It's a lot. And I'm writing this book, and I'm
- 29:57Speaker 2: I'm working on some TV stuff and I give so
- 30:00Speaker 2: I have a lot of stuff going on still. And
- 30:03Speaker 2: one of the biggest battles for me is the tank
- 30:06Speaker 2: issue that you just talked about, because if somebody gets
- 30:09Speaker 2: on my calendar in the morning, well that completely derails
- 30:13Speaker 2: my creative time. And any there's an opportunity cost any
- 30:17Speaker 2: amount of time I'm thinking about something else or being
- 30:19Speaker 2: creative in somebody else's lane. It reduces my capacity to
- 30:23Speaker 2: finish my own work.
- 30:25Speaker 1: When do you do your writing, I personally have found
- 30:27Speaker 1: like five to eight in the morning is just the
- 30:30Speaker 1: golden hour.
- 30:31Speaker 2: I for me, will get up at around seven or eight,
- 30:36Speaker 2: and because for me, I really try to get enough sleep,
- 30:39Speaker 2: so I'll get up around seven or eight. I don't
- 30:40Speaker 2: have a boss, so I can do whatever that I want,
- 30:43Speaker 2: and I work most of the morning, but I interrupt it.
- 30:46Speaker 2: So I'll try to not have anything else on my
- 30:49Speaker 2: calendar til one or two, and so I will write
- 30:52Speaker 2: for that time, but I will interrupt it with meditation
- 30:55Speaker 2: and exercise so that I'm not You can't really write
- 30:59Speaker 2: for within ninety minutes at a time, in my experience.
- 31:01Speaker 1: There's something to that and then get up from your desk,
- 31:05Speaker 1: take a walk around the block, come back. That's when
- 31:08Speaker 1: you could do the edit, revise it. But that creative
- 31:12Speaker 1: first flow. I love that feeling early in the morning,
- 31:15Speaker 1: when it's like a clean paper in a fresh reboot,
- 31:19Speaker 1: where it's just tumble out. It's very very different.
- 31:22Speaker 2: I really don't have I have very few moments of joy.
- 31:29Speaker 2: It really is mostly suffering for me, and I'm wondering,
- 31:33Speaker 2: like can I do this again? I'm fifty one, almost
- 31:37Speaker 2: fifty two, and you know, I think I could write
- 31:40Speaker 2: small books or more like how to books. But these
- 31:43Speaker 2: big books like this one I'm writing now, that is
- 31:45Speaker 2: like a movie of a true narrative or like ten
- 31:48Speaker 2: percent happier they just read. It takes so much out
- 31:50Speaker 2: of me. I'm not sure. Maybe I could do one
- 31:53Speaker 2: more before I die, but I don't even know.
- 31:55Speaker 1: So if you break it down into smaller pieces, it's
- 31:58Speaker 1: much more doable and putting out, you know, a thousand
- 32:02Speaker 1: word columns, eight hundred word columns. So that's all a
- 32:05Speaker 1: book is, is a collection of those shorter chats.
- 32:08Speaker 2: Not my books though, because it has this yard it
- 32:11Speaker 2: is a movie.
- 32:12Speaker 1: Oh you could have the the thread weaving through the
- 32:15Speaker 1: whole tapestry. You could certainly do that.
- 32:18Speaker 2: To me. As soon as that you get into that,
- 32:20Speaker 2: it's like it's too it's too real. It's too it's
- 32:23Speaker 2: like building the taj Mahal. You know, it's just too
- 32:25Speaker 2: that that for me and I maybe just don't have
- 32:29Speaker 2: a good brain. But it doing a discrete thousand word
- 32:34Speaker 2: s occasionally I write something for the Times or whatever
- 32:36Speaker 2: that's hard, but it's it's discrete and I can get
- 32:39Speaker 2: it done quickly. But as soon as I have to
- 32:42Speaker 2: think about the structure, the themes carrying out and building
- 32:45Speaker 2: upon one another, and the scenes that are required in
- 32:48Speaker 2: order to teach it, I'm torturing you with you, my,
- 32:50Speaker 2: with my.
- 32:50Speaker 1: I have two projects I'm working on, and one of
- 32:55Speaker 1: them is just trying to stitch together all these previous
- 33:00Speaker 1: and the other is something from scratch that's a whole
- 33:04Speaker 1: broad overview of something that word one. I wrote the
- 33:09Speaker 1: introduction that was pretty much it. It's easier stitching together
- 33:15Speaker 1: the previous thoughts then coming up with a whole holistic
- 33:20Speaker 1: tapestry from scratch that said, the journey of a thousand
- 33:24Speaker 1: miles begins with one step, and breaking big projects up
- 33:28Speaker 1: into smaller and smaller chunks makes it doable. Like if
- 33:33Speaker 1: you're thinking about I have a five hundred word book
- 33:35Speaker 1: to write, that's paralyzing. I have to write the introduction,
- 33:39Speaker 1: I have to write the overview. I have to put
- 33:40Speaker 1: together the structure that makes it almost tolerable.
- 33:45Speaker 2: I completely agree with you. I just think the difference
- 33:47Speaker 2: here is that in books like ten percent Happier. And
- 33:50Speaker 2: in the next book I'm writing, which is called Me
- 33:53Speaker 2: a Love Story. I'm glad you get that joke. Some
- 33:56Speaker 2: people don't get it.
- 33:57Speaker 1: I think that's very fun.
- 34:00Speaker 2: I'm really trying to make a movie when I mean.
- 34:02Speaker 2: What I mean by that is it's a yarn. It's
- 34:05Speaker 2: not a it's not me sharing a bunch of ideas
- 34:08Speaker 2: with you. It should feel like you're on one person's
- 34:11Speaker 2: story the whole way. And weaving the teaching points into
- 34:15Speaker 2: that is just really anyway, I'm rambling at this point.
- 34:17Speaker 1: No, no, this is so all good. So what do
- 34:20Speaker 1: you make of the claim that really you just need
- 34:22Speaker 1: twelve and a half minutes of meditation today to see
- 34:26Speaker 1: positive results? I keep seeing ten minutes, twelve minutes. How
- 34:29Speaker 1: realistic is that?
- 34:30Speaker 2: Okay, So that twelve and a half minute number I
- 34:33Speaker 2: believe comes from a neuroscientist. He's a friend of mine
- 34:36Speaker 2: at the University of Miami. Her name is Amishi Ja,
- 34:38Speaker 2: and she studies high stress people in high stress fields
- 34:42Speaker 2: like first responders and marines. And she has found that
- 34:47Speaker 2: the minimum effective dose for her populations is twelve and
- 34:50Speaker 2: a half minutes a day. And I believe her. However,
- 34:53Speaker 2: I feel like it's daunting for most people to hear
- 34:56Speaker 2: that if you've never meditated before. And so I say
- 34:59Speaker 2: two things one one minute counts, it will confer benefits.
- 35:04Speaker 2: And we know from behavior change science that starting small
- 35:09Speaker 2: is really important. The second thing I have to say
- 35:11Speaker 2: is daily ish, give yourself flexibility. Don't beat yourself up
- 35:16Speaker 2: if you miss a day, don't get over the persnickety
- 35:19Speaker 2: about like which time of day you're meditating. Give yourself
- 35:23Speaker 2: a break and take it easy and start small, and
- 35:27Speaker 2: that is the route to effective habit building.
- 35:29Speaker 1: So what has the response to the book been like?
- 35:32Speaker 1: And let me just tell the listening audience. You were
- 35:36Speaker 1: fifteen minutes late from speaking upstairs because we couldn't get
- 35:39Speaker 1: you out of there because it was a giant line
- 35:42Speaker 1: of people asking you to sign books. So I have
- 35:44Speaker 1: to think the response has been really positive.
- 35:47Speaker 2: The most amazing thing that's happened in my professional life,
- 35:53Speaker 2: you know, right below having a child and getting married.
- 35:56Speaker 2: I mean, I can't believe it. It's almost ten years
- 35:59Speaker 2: since the book came out. I honestly, honestly thought that
- 36:02Speaker 2: it would go nowhere.
- 36:04Speaker 1: You describe it as a fiery failure, Your mom begged
- 36:07Speaker 1: you not to write about your personal failures.
- 36:10Speaker 2: Yes, I was terrified and that this thing has turned
- 36:14Speaker 2: into something that's so helpful for so many people. It
- 36:17Speaker 2: swallowed my life, you know. I mean, I quit this
- 36:21Speaker 2: career that I loved in TV news to do this
- 36:24Speaker 2: full time, to host a podcast, to write more books,
- 36:26Speaker 2: and to give speeches, and it's just incredible. It's absolutely incredible.
- 36:31Speaker 2: And this is a cliche thing I'm about to say,
- 36:36Speaker 2: but I'm like, really grateful.
- 36:38Speaker 1: Nothing wrong with a little gratitude, can't go wrong with that.
- 36:43Speaker 1: What practical tips do you have for incorporating meditation, mindfulness,
- 36:48Speaker 1: whatever into people's daily lives. Because the thing that makes
- 36:51Speaker 1: the book so interesting versus all the other books is
- 36:55Speaker 1: you really tell people do this, do this, do this,
- 36:58Speaker 1: as opposed to this sort of woo ooo spiritual be
- 37:03Speaker 1: at one with the universe, which really, all right, I'm
- 37:05Speaker 1: one with the universe now, what it really isn't very helpful.
- 37:08Speaker 2: Yes, So a couple of ways to get started. One
- 37:11Speaker 2: is there are lots of meditation apps out there, and
- 37:14Speaker 2: they all are either free or they have free trials.
- 37:16Speaker 2: I would do some taste testing. You can also read
- 37:18Speaker 2: a good book there are plenty of them. One book
- 37:20Speaker 2: that's coming to mind it is called Real Happiness by
- 37:22Speaker 2: Sharon Salzburg. Very very very very practical. Another thing you
- 37:26Speaker 2: can do is, if you live in a major city,
- 37:28Speaker 2: most of them have meditation centers where you can drop in.
- 37:31Speaker 2: And even if they're sectarian, in other words, even if
- 37:34Speaker 2: they're Buddhist, don't worry about it. It's not a proselytizing religionist.
- 37:38Speaker 1: Buddhists tends to me kind of low key.
- 37:40Speaker 2: I consider myself a Buddhist and I'm not like trying
- 37:43Speaker 2: to convince anybody to join me in that. In that tradition,
- 37:47Speaker 2: it's really about giving you exercises to train your mind
- 37:50Speaker 2: in terms of fitting it into your day. Just like
- 37:52Speaker 2: I said before, and you can't hear this enough, set
- 37:54Speaker 2: the bar low, don't try to do too much off
- 37:58Speaker 2: the bat, and don't beat yourself up when you fall
- 38:01Speaker 2: off the wagon because it's inevitable. So sneak it in
- 38:03Speaker 2: into the little parts of your day where you've got
- 38:06Speaker 2: an extra minute or two right before dinner, right when
- 38:09Speaker 2: you pull your car into the garage, either at work
- 38:13Speaker 2: or when you've come home, little points in the day
- 38:15Speaker 2: where you might otherwise be stressed, fomo inducing Instagram scrolling.
- 38:20Speaker 2: You can do that too, But can you just carve
- 38:22Speaker 2: one minute out or two minutes out to do this thing?
- 38:25Speaker 1: I think you can really intriguing. Let's talk about the podcast.
- 38:29Speaker 1: What made you decide to say I know, I'll talk
- 38:33Speaker 1: to people about this three times a week.
- 38:35Speaker 2: You know, generally throughout this whole thing, I've had no
- 38:38Speaker 2: idea what I was doing, So I'm almost like the
- 38:42Speaker 2: opposite of a master's a master in business. I've been
- 38:45Speaker 2: just stumbling through. I wrote the book because I had
- 38:48Speaker 2: this idea that I could maybe that maybe there was
- 38:52Speaker 2: a space in the market for this. And I turned
- 38:54Speaker 2: out to be right about that, but I didn't I
- 38:56Speaker 2: wasn't confident as I did it. The book was way
- 38:59Speaker 2: more successful than I think thought, and then I was
- 39:00Speaker 2: kind of thinking about, like, oh, what do I do next?
- 39:03Speaker 2: And this was in the book came out in fourteen,
- 39:05Speaker 2: and I think in around sixteen friends of mine were
- 39:09Speaker 2: starting podcasts. I have a buddy named Sam Harris. We're
- 39:11Speaker 2: not related, but he's not very popular podcast and he's
- 39:15Speaker 2: a friend and I was like, man, I ran into
- 39:17Speaker 2: somebody in the elevator at ABC News and I was like,
- 39:19Speaker 2: do we do podcasts here? And they were like the
- 39:21Speaker 2: next day there was a bunch of people in my office.
- 39:23Speaker 2: They were like, let's do this. So I started a
- 39:25Speaker 2: podcast with no real plan. My initial thought was, Hey,
- 39:28Speaker 2: I'm kind of interested in, like, what's beyond ten percent happier?
- 39:31Speaker 2: What you know, there's all this talk of enlightenment. Is
- 39:34Speaker 2: that real? So I really focused it on deep end
- 39:37Speaker 2: of the pool meditation and Buddhism stuff at first, and
- 39:40Speaker 2: then over the years, especially during the pandemic, I started
- 39:42Speaker 2: to expand it to just the human condition and really,
- 39:47Speaker 2: how do we do life better in all areas of life?
- 39:50Speaker 2: So now we talk about work, we talk about sex,
- 39:53Speaker 2: we talk about romance, we talk about conflict, boundaries, managing money,
- 39:59Speaker 2: any area area of life where we tend to suffer
- 40:02Speaker 2: or struggle. We bring in people to help you unlock.
- 40:05Speaker 2: And that has been totally fascinating. Is really helped me
- 40:09Speaker 2: do my own life better because this is like an
- 40:11Speaker 2: extended therapy session for which I get paid.
- 40:14Speaker 1: Huh. Really interesting you have on the podcast His Holiness
- 40:19Speaker 1: the Dali Lama. How does that come about? Does the
- 40:22Speaker 1: Lama have an agent or pr firm? How do you
- 40:26Speaker 1: how do you land the Dali Lama as a podcast?
- 40:29Speaker 2: You know. One one thing that is interesting is I'm
- 40:31Speaker 2: basically like the beat reporter for Buddhism, Like I know
- 40:34Speaker 2: most of the Buddhists.
- 40:37Speaker 1: You know, all the big Buddhists.
- 40:38Speaker 2: I guess I do. Like I'm a little bit like, uh,
- 40:40Speaker 2: what's that in Caddy Shack Bill Murray talking about getting Yeah,
- 40:45Speaker 2: I got that going. That's nice.
- 40:46Speaker 1: Right, You're gonna achieve total consciousness on your deathbed, so
- 40:50Speaker 1: you have that going for you.
- 40:51Speaker 2: I do, which is nice.
- 40:53Speaker 1: So by the way, I literally have that line written
- 40:57Speaker 1: down on the off chance that you would reference it,
- 41:00Speaker 1: and I'm so happy you did. Yeah, I mean I'm
- 41:03Speaker 1: eleven percent happy.
- 41:04Speaker 2: Any chance to reference Bill Murray or so. I mean,
- 41:08Speaker 2: I've found myself in this foine. I was like a
- 41:09Speaker 2: traditional hard charging newsman. I was covering wars and natural disasters,
- 41:13Speaker 2: mass shootings, political campaigns, and then all of a sudden,
- 41:16Speaker 2: I'm like I got interested in meditation. And now I'm like,
- 41:19Speaker 2: you know, I know all these spiritual leaders. They sleep
- 41:22Speaker 2: at my house, you know, like this is my life.
- 41:24Speaker 1: You know, it's very strange. And so.
- 41:28Speaker 2: The dollar alumb was the first guest on my podcast
- 41:30Speaker 2: because one of his best friends is an eminent American
- 41:33Speaker 2: neuroscientist by the name of Richard Davidson who's friends of mine,
- 41:37Speaker 2: and so I will call Richie once in a while
- 41:38Speaker 2: and be like, hey, can you get the Dollar Lama
- 41:40Speaker 2: on my show? And he makes it happen, and so
- 41:42Speaker 2: I actually have had him on four times. And in
- 41:45Speaker 2: the fall, I went over to India and I spent
- 41:48Speaker 2: two weeks hanging around him and we did this whole, big,
- 41:51Speaker 2: long podcast series about the Dalai Lama. And he's a
- 41:55Speaker 2: fascinating dude.
- 41:56Speaker 1: To say the very least. When he's in America, does
- 41:58Speaker 1: he crash on your couch? Or where does the Lama stay?
- 42:02Speaker 2: Well, he's eighty seven or eighty eight now, so he
- 42:05Speaker 2: is not traveling much. He tends to stay in highly
- 42:09Speaker 2: secure hotel rooms.
- 42:11Speaker 1: And you said something earlier that I let slip by
- 42:14Speaker 1: unnoticed because I was so entranced with the Bill Murray reference.
- 42:18Speaker 1: But you said, you're not a master's in business. You
- 42:21Speaker 1: never expected that. I can't tell you how many people
- 42:24Speaker 1: sat across from me who are wildly successful, very accomplished people,
- 42:30Speaker 1: and they talk about the role of serendipity and random
- 42:33Speaker 1: luck and just recognizing an opportunity that hey, am I crazy?
- 42:39Speaker 1: But is this a market that's untapped, And well, it's
- 42:42Speaker 1: untapped for a reason. Maybe we should tap it and
- 42:45Speaker 1: see what happens. So how much of your experiences with
- 42:52Speaker 1: meditation and the book and the podcast and everything else
- 42:55Speaker 1: around what you've learned is just random luck? And how
- 42:59Speaker 1: much of it is you saying there's something here and
- 43:02Speaker 1: it's a new story that no one's really covering.
- 43:04Speaker 2: I think it's a mixture. I mean, I will never
- 43:06Speaker 2: underplay luck. I mean, I've been lucky in just so
- 43:10Speaker 2: many areas of my life. And I also think there's
- 43:14Speaker 2: some strategy and some lucky insights, you know, like I
- 43:18Speaker 2: have a animalistic sense. I think for what is going
- 43:22Speaker 2: to work in this area and where the shortfalls and
- 43:25Speaker 2: pitfalls are and self help and self development, and you know,
- 43:28Speaker 2: I think that is actually doing a service. It's been
- 43:32Speaker 2: It's turned out to be quite a lucrative business. And
- 43:34Speaker 2: I also think that it's helping people and taking these
- 43:38Speaker 2: ancient teachings and updating them for new audiences.
- 43:42Speaker 1: Buddha a lucrative side hustle. Whoever would have guessed that.
- 43:46Speaker 1: So before we get to our favorite questions that I
- 43:48Speaker 1: ask all my guests, I have to just ask about
- 43:52Speaker 1: the rain technique Recognize, allow, investigate, non identify. How familiar
- 43:59Speaker 1: are you with the loop from the fighter pilot I
- 44:03Speaker 1: want to say, Boyd. I'm trying to remember his name,
- 44:07Speaker 1: John Boyd, Colonel John Boyd, which is all right. So
- 44:11Speaker 1: the loop is observe, orient, decide act And this was
- 44:18Speaker 1: early mid century US Air Force trying to figure out
- 44:24Speaker 1: what sort of advantages can we give to fighter pilots
- 44:30Speaker 1: when it was still you know, hand to hand air
- 44:32Speaker 1: to air combat, not just press a missile and forget
- 44:35Speaker 1: about it. That idea of recognize, allow, investigate, non identify
- 44:42Speaker 1: is very similar to on a completely different context, observe, orient,
- 44:49Speaker 1: decide act it. It's just funny how those four steps here,
- 44:55Speaker 1: you're trying to deal with something internally. There you're dealing
- 44:57Speaker 1: with an external threat. Tell us about the rain technique.
- 45:01Speaker 2: I mean, I love that. I think there are lots
- 45:02Speaker 2: of these acronyms out there that help you just navigate life.
- 45:06Speaker 2: Rain is recognized, allow, investigate, non identification. So that sounds
- 45:12Speaker 2: like a mouthful, but it's pretty simple. You're in a
- 45:15Speaker 2: tough moment, you're struggling, and it could be something internal
- 45:19Speaker 2: or external, and very quickly you can learn how to
- 45:21Speaker 2: do these four steps. Recognize it, just to notice what's happening.
- 45:24Speaker 1: Right now, figure out what's going on, Wake up.
- 45:26Speaker 2: To what's happening right Allow is instead of fighting it
- 45:30Speaker 2: or acting on it in some way that is fighting it,
- 45:33Speaker 2: Like I'm feeling like some tiny pang of hunger and
- 45:35Speaker 2: I'm just gonna randomly eat the most recent thing, or
- 45:39Speaker 2: my wife said something mildly annoying and I'm going to
- 45:41Speaker 2: snap at her instead of acting blindly, just allow the
- 45:45Speaker 2: feeling to be there. I is investigate, which doesn't mean
- 45:49Speaker 2: like where did this come from? And you know it's
- 45:51Speaker 2: not a cognitive thing. It's more just like, how is
- 45:53Speaker 2: this showing up in my body? Can you investigate? How
- 45:56Speaker 2: is this anger or hunger? Where am I experiencing in
- 45:59Speaker 2: my body? Which just allows you to sort of take
- 46:01Speaker 2: it in on a deep level and be with it
- 46:03Speaker 2: in the current moment. And non identification is to recognize
- 46:07Speaker 2: that you don't need to take your innership personally. And
- 46:10Speaker 2: you didn't create your mind, you didn't create your body,
- 46:12Speaker 2: you didn't create the world. You may think you have
- 46:14Speaker 2: all of this agency, you're this ego separate from the world,
- 46:19Speaker 2: peering out fretfully from behind these eyeholes, But you're part
- 46:22Speaker 2: of the universe. Sounds a little out there, but it's
- 46:25Speaker 2: actually non negotiably true. And so all of this stuff
- 46:28Speaker 2: is nature. You are nature. And can you, just, sir
- 46:32Speaker 2: a second, see your emotion from that perspective so that
- 46:36Speaker 2: it doesn't own you. And I just think this is
- 46:38Speaker 2: a nice little way to navigate the world.
- 46:40Speaker 1: I like it. I like a lot. Let's jump to
- 46:42Speaker 1: our favorite questions and we'll get you out of here
- 46:45Speaker 1: in time to hit your next gig. Starting with tell
- 46:50Speaker 1: us what you're consuming for entertainment, What are you streaming
- 46:54Speaker 1: or watching? What podcasts you're listening to give us a
- 46:56Speaker 1: little bit about what's keeping you.
- 46:58Speaker 2: Entertaining success Baby, I was Succession, you know. I mean
- 47:02Speaker 2: not only am I, you know, watching the show as
- 47:04Speaker 2: it wraps up, but my wife and I love it
- 47:06Speaker 2: so much we went back and started watching from season
- 47:08Speaker 2: one as really, and I think it's just a masterful
- 47:11Speaker 2: piece of art. The writing, the acting, it's all just incredible.
- 47:17Speaker 2: And it's hard to watch because you're just watching it.
- 47:20Speaker 2: It's one of the most violent shows I've ever seen.
- 47:22Speaker 1: So funny you say that I couldn't get past the
- 47:25Speaker 1: second episode. I didn't have that experience with the Sopranos.
- 47:28Speaker 1: I didn't have that experience with a lot of other
- 47:31Speaker 1: great television I had a hard time with.
- 47:33Speaker 2: So I had the similar experience with you with Succession.
- 47:36Speaker 2: The first time I watched it, I didn't like it,
- 47:37Speaker 2: and I set it aside. And then COVID hit and
- 47:40Speaker 2: I got COVID, and I was in bed, and I
- 47:43Speaker 2: watched seasons one and two because I was in bed
- 47:47Speaker 2: and bored and what it has to do. And then
- 47:48Speaker 2: I got it because I really had to live with
- 47:51Speaker 2: it for a minute.
- 47:51Speaker 1: It is so a commitment. Here fourteen hours. See if
- 47:55Speaker 1: you like it.
- 47:56Speaker 2: Well, if I didn't like it, I would have watched
- 47:58Speaker 2: something else. But it is first of all, one reason
- 48:01Speaker 2: to stay with it is very funny, extremely funny, and
- 48:04Speaker 2: it gets funnier as it goes. The other reason to
- 48:07Speaker 2: live with it is it's doing what I love in
- 48:10Speaker 2: great art, which is it's transporting you into a different
- 48:12Speaker 2: world that feels real, and so that's just anthropologically interesting.
- 48:18Speaker 2: But it is a hard show because you're watching people
- 48:22Speaker 2: do very skillful interpersonal violence to one another, and the
- 48:25Speaker 2: show does a kind of violence to you because three
- 48:28Speaker 2: percent of the time they will allow real human kindness.
- 48:33Speaker 2: And that is what is the cruelest twist. It's keeping you, Oh,
- 48:38Speaker 2: maybe these people aren't the worst in the world. Yeah,
- 48:40Speaker 2: and then the ship comes in correct, right in the kidney.
- 48:43Speaker 1: Yeah. I love your concept of transporting you to a
- 48:46Speaker 1: world that feels almost real. The Diplomat is just an
- 48:52Speaker 1: eight souit Yeah, yes, yeah, just really well written and
- 48:56Speaker 1: well afted. And then if you like Bridgerton the prequel
- 49:00Speaker 1: Queen Charlotte, it's this crazy, colorful, weird, almost believable alternative
- 49:09Speaker 1: world that's like with great characters and great writing. And
- 49:13Speaker 1: you know, you did what you made me think of
- 49:16Speaker 1: Queen Charlotte, because it's that transporting you to someplace that
- 49:21Speaker 1: almost feels real. It's like one thing that's off that
- 49:25Speaker 1: keeps it fictional, but it's close.
- 49:28Speaker 2: I'll give you one two other little entertainment things. One
- 49:30Speaker 2: is Hacks on HBO Max or now it's just called Max.
- 49:34Speaker 2: It's very funny, she's amazing, she's incredible.
- 49:37Speaker 1: Amy Smart is it not Amy Smart?
- 49:40Speaker 2: What is her name? Yes, she's fantastic, Gene Smart, Jean Smart, Yes,
- 49:46Speaker 2: and the comedian Theo Vaughn who's been showing up for
- 49:49Speaker 2: me a lot on social media. He is totally inappropriate
- 49:54Speaker 2: but also just incredibly funny. I mean, just like he's
- 49:57Speaker 2: very clippable. You can make short little clips of him
- 50:00Speaker 2: as pithy little things.
- 50:01Speaker 1: That's hilarious. Tell us about your mentors who helped to
- 50:05Speaker 1: shape your career.
- 50:06Speaker 2: I mentioned a couple of people in the course of
- 50:09Speaker 2: this conversation. David Weston, who's one of your colleagues at Bloomberg,
- 50:12Speaker 2: who was my boss at ABC News. Incredible boss and
- 50:15Speaker 2: really helped me in my career. Sam Harris, who I
- 50:17Speaker 2: also mentioned, who was one of the first people who
- 50:20Speaker 2: was a real role model for me in terms of
- 50:21Speaker 2: getting into meditation, because here was this guy who's quite
- 50:25Speaker 2: well known as an atheist writer and who unafraid to
- 50:28Speaker 2: mix it up with and debate with all sorts of people. Yes,
- 50:32Speaker 2: and so you know, I don't always agree with him,
- 50:34Speaker 2: but I find him inspirational and aspirational in that way,
- 50:38Speaker 2: and he's a committed, committed meditator, and so that was
- 50:42Speaker 2: really helpful to me. And then Jerry Kolonna is a
- 50:46Speaker 2: quite a well known executive coach who has been referred
- 50:50Speaker 2: to as the Yoda of Silicon Valley. Does a lot
- 50:52Speaker 2: of like CEO whispering, and he has worked with me
- 50:56Speaker 2: in my career and has really helped me grow up.
- 51:00Speaker 2: He did a very devastating but impactful three sixty review
- 51:04Speaker 2: on me, which resulted in me learning a lot about myself.
- 51:06Speaker 2: Though that's the sequel. Actually that's the next one.
- 51:09Speaker 1: Oh the three sixties review. Really interesting. Tell us about
- 51:12Speaker 1: speaking of books, tell us about some of your favorites
- 51:15Speaker 1: and what you've read recently.
- 51:16Speaker 2: I really am into novels right now, and I have
- 51:20Speaker 2: been reading a lot of novels as I write my
- 51:21Speaker 2: next book, because I'm stealing their storytelling techniques and I'm
- 51:26Speaker 2: trying to like up my game as a writer. In
- 51:28Speaker 2: one of the ways I'm doing that is by reading
- 51:29Speaker 2: the greats. Jennifer Egan is a modern writer. She'd won
- 51:32Speaker 2: a Pulitzer for a book in twenty eleven called A
- 51:36Speaker 2: Visit from the Goon Squad, and then she wrote a
- 51:38Speaker 2: follow up called The Candy House, and I find her
- 51:42Speaker 2: to be mesmerizing and bewitching.
- 51:45Speaker 1: Two interesting recommendations. So what sort of advice would you
- 51:49Speaker 1: give to a recent college grad interested in a career
- 51:53Speaker 1: in either journalism or broadcast television.
- 51:57Speaker 2: Go for it. You know, it's hard, it's tough, but
- 52:00Speaker 2: it's awesome and I love as I think. I said
- 52:02Speaker 2: this in my first book, that the right that it
- 52:05Speaker 2: confers upon you to walk up to important people and
- 52:08Speaker 2: ask impudent questions yes, is incredible and if you have curiosity,
- 52:15Speaker 2: this is a playground. And I mean it's a tough business.
- 52:20Speaker 2: Content creation is hard, and ad supported models are hard.
- 52:25Speaker 2: As we get into subscriptions, that too is hard. It's tough,
- 52:29Speaker 2: and it's competitive, but I do think that if you
- 52:32Speaker 2: can hack that it is worth it.
- 52:35Speaker 1: And our final question, what do you know about the
- 52:38Speaker 1: world today that you wish you knew thirty or so
- 52:42Speaker 1: years ago when you were a Green Cub reporter.
- 52:46Speaker 2: I heard Scott Galloway, another big business voice, say this
- 52:49Speaker 2: recently to me, actually, and he said it about himself,
- 52:53Speaker 2: But actually it just comes to mind as my big
- 52:57Speaker 2: oversight too. I wish I had been nicer. And you
- 53:00Speaker 2: think about niceness as kind of weakness, but it's actually
- 53:04Speaker 2: a real strength. And we are social animals. We need
- 53:08Speaker 2: other people we may think, in this culture that's individualistic,
- 53:12Speaker 2: that we're going to be self made, but nobody's self made.
- 53:15Speaker 2: You're all co created, and we're all co created. And
- 53:19Speaker 2: if I had taken the time to work on my
- 53:21Speaker 2: relationships in all aspects of my life, my life would
- 53:24Speaker 2: have been better, way quicker. And even after meditation came
- 53:28Speaker 2: into my life, I was still failing on the relational front.
- 53:32Speaker 2: And that's really what the three sixty taught me, which
- 53:34Speaker 2: is I needed to up my game, and that like
- 53:38Speaker 2: taking small moments to be nice to people is first
- 53:42Speaker 2: of all, it can have a huge impact on other people,
- 53:46Speaker 2: but it's good for me. I always go through the
- 53:48Speaker 2: lens of self interest because I'm naturally frosty and selfish,
- 53:53Speaker 2: and I think a lot of people are if they're
- 53:55Speaker 2: capable of looking into that.
- 53:56Speaker 1: I'm going to interrupt you. I'm trying to remember what
- 53:58Speaker 1: was in the book or something else I had read
- 54:00Speaker 1: where you describe, and it might even be a Buddhist
- 54:03Speaker 1: precept of there's two types of generosity, the selfish generosity, yes,
- 54:10Speaker 1: and generous generosity. And even the generous generosity comes back
- 54:15Speaker 1: to you.
- 54:15Speaker 2: Yes. The Buddha talks about why selfishness that all I mean. Sorry,
- 54:18Speaker 2: The dollar Lama talks about this concept of why selfishness,
- 54:22Speaker 2: that if you want to be really good at being selfish,
- 54:25Speaker 2: you will be compassionate and generous because that is the
- 54:28Speaker 2: number one source of happiness. Let me just say this
- 54:30Speaker 2: finally on a broader note, but it's a related note.
- 54:34Speaker 2: There are so many bugs in the human design, but
- 54:37Speaker 2: there is this feature that is the way out for
- 54:41Speaker 2: us as a species of our problems. The feature is
- 54:43Speaker 2: this doing good for other people is to do good
- 54:47Speaker 2: for yourself, and that we can ride to personal happiness
- 54:52Speaker 2: and species wide improvements. It is an incredibly hopeful and
- 54:57Speaker 2: totally true thing, and I find that to be a
- 55:00Speaker 2: source of real personal and sort of micro and macro optimism.
- 55:05Speaker 1: It's not a coincidence that billionaires also tend to be philanthropists,
- 55:10Speaker 1: right works out. Dan, Thank you so much for being
- 55:12Speaker 1: so generous with your time. We have been speaking with
- 55:15Speaker 1: Dan Harris, author of ten Percent Happier. If you enjoyed
- 55:20Speaker 1: this conversation, well be sure and check out any of
- 55:22Speaker 1: our five hundred previous such discussions that we've held over
- 55:26Speaker 1: the past eight and a half years. You can find
- 55:28Speaker 1: those at YouTube. Spotify, Apple, iTunes, wherever you find your
- 55:32Speaker 1: favorite podcasts. Sign up from my daily reading list at
- 55:37Speaker 1: ridoults dot com. Follow me on Twitter at Ridolts. Follow
- 55:41Speaker 1: the whole fine family of Bloomberg Podcasts at podcast I
- 55:46Speaker 1: would be remiss if I did not thank the crack
- 55:48Speaker 1: team that helps put these conversations together each week. Sarah
- 55:52Speaker 1: Livesey is my audio engineer. Pariswold is my producer. A
- 55:56Speaker 1: Teak of al Bron as our project manager. Sean Russo
- 55:59Speaker 1: is my re searcher. I'm Barry Ritolts. You've been listening
- 56:03Speaker 1: to Masters in Business on Bloomberg Radio