We don’t choose between experiences, we choose between memories of experiences. Even when we think about the future, we don’t think of our future normally as experiences. We think of our future as anticipated memories.

By their very nature, heuristic shortcuts will produce biases, and that is true for both humans and artificial intelligence, but the heuristics of AI are not necessarily the human ones.

Intelligence is not only the ability to reason; it is also the ability to find relevant material in memory and to deploy attention when needed.

The average investor's return is significantly lower than market indices due primarily to market timing.

When action is needed, optimism, even of the mildly delusional variety, may be a good thing.

We deeply want to be led by people who know what they're doing and who don't have to think about it too much.

People are really happier with friends than they are with their families or their spouse or their child.