Funny, I read Standford experiment and immediately thought of the prison experiment, not the marshmallow one.
Interestingly, there is an alternative view on the marshmallow experiment. Traditionally it’s supposed to be evidence that developing delayed gratification in children leads to better outcomes for them in life.
However, the children in the experiment who were least likely to show delayed gratification and wait were also those from lower socioeconomic backgrounds. These children not only grew up with less access to luxuries (such as marshmallows) but also with a very different experience of people, particularly adults; as a result, they’re far less likely to trust adults who have lied to them in the past or failed to come through for them.
This changes the calculus significantly, no longer is it “If I wait, i’ll get two marshmallows instead of one”, but “If I wait they said i’ll get two marshmallows, but it might be a trick, they might change their mind, or I might miss out for some other reason. If I eat this one now, at least i’ll have gotten one marshmallow”. A perfectly reasonable response.
Why do they have less optimal outcomes than those who could wait? I imagine for the same reason that, statistically, you’re less likely to be doing as well as Elon, who raised himself up by his bootstraps with nothing but his own smarts and an inherited emerald mine in south africa, or Trump, who built a real-estate empire from absolutely nothing, just a multi-million dollar starting investment from his wealthy father.
Oddly enough, when you start the race half-way along, you have more chance of winning it. Who knew.
You are correct I believe. Nice article BUT the Stanford Marshmallow Experiment was not replicable once applied to a broader population (unbiased sample). Apparently it was unable to show delayed gratification supported future success. It was the link to socio-economic background and (some may not like this) the learned behaviours that led to delayed gratification and future ‘success’ (however that is measured).
I don’t even need to read that. It’s obvious that the only way of becoming very wealthy is to persuade other people to give you some of their money. A little from many people, or a lot from a few people, or millions from some government that took it by force from taxpayers.
With a few exceptions - people who genuinely contribute something really useful to society - becoming wealthy is virtually a confession of criminality or, at the very least, immorality.
“Power tends to corrupt and absolute power corrupts absolutely. Great men are almost always bad men, even when they exercise influence and not authority: still more when you superadd the tendency or the certainty of corruption by authority. There is no worse heresy than that the office sanctifies the holder of it”
- Lord Acton (Letter to Bishop Creighton, 1887)
He might have added that the same applies to rich people. His final sentence might, today, read “There is no worse heresy than that wealth sanctifies the owner of it”.
Meaningless and worthless response, perhaps even more meaningless and worthless than your life itself. Dalio is charlatan and an imposter. The very fact that you would take your time to defend him means you’re an even bigger fag than him. Kys.
Wealth? I have cedar trees to pray with and the Pacific Ocean to meditate with. What is wealth? I notice that the pursuit of wealth shortens one’s life span. I prefer to lead a life free of avarice and neediness and fear.
Yeah? Well FUCK Ray Dalio. He’s conveniently forgotten to figure in the other parts of the psyche. In any system that is not in true balance there is always too much value placed in the Id and not enough use and reverence of the Superego. And if there is not balance it will always end in the decimation of the human race. Nice job, short-sited prick!
This is a regret?! I wish I had made small investments when I was younger. I have an investment acct. now with not enough money in it. I have an Acorns account. I love my Acorns account. It’s a small amount I put away every week and round ups. I’d love watching it grow. Please please. I know the market is bad right now, but try opening up an Acorns account and start small. No I do not work for this company.
Funny, I read Standford experiment and immediately thought of the prison experiment, not the marshmallow one.
Interestingly, there is an alternative view on the marshmallow experiment. Traditionally it’s supposed to be evidence that developing delayed gratification in children leads to better outcomes for them in life.
However, the children in the experiment who were least likely to show delayed gratification and wait were also those from lower socioeconomic backgrounds. These children not only grew up with less access to luxuries (such as marshmallows) but also with a very different experience of people, particularly adults; as a result, they’re far less likely to trust adults who have lied to them in the past or failed to come through for them.
This changes the calculus significantly, no longer is it “If I wait, i’ll get two marshmallows instead of one”, but “If I wait they said i’ll get two marshmallows, but it might be a trick, they might change their mind, or I might miss out for some other reason. If I eat this one now, at least i’ll have gotten one marshmallow”. A perfectly reasonable response.
Why do they have less optimal outcomes than those who could wait? I imagine for the same reason that, statistically, you’re less likely to be doing as well as Elon, who raised himself up by his bootstraps with nothing but his own smarts and an inherited emerald mine in south africa, or Trump, who built a real-estate empire from absolutely nothing, just a multi-million dollar starting investment from his wealthy father.
Oddly enough, when you start the race half-way along, you have more chance of winning it. Who knew.
You are correct I believe. Nice article BUT the Stanford Marshmallow Experiment was not replicable once applied to a broader population (unbiased sample). Apparently it was unable to show delayed gratification supported future success. It was the link to socio-economic background and (some may not like this) the learned behaviours that led to delayed gratification and future ‘success’ (however that is measured).
100%
Being able to ‘delay gratification’ is a hallmark of ‘adulting’ isn’t it?
This guy understood so much more than the marshmallow experiment. If you delay gratification on a bad investment, you lose.
I don’t even need to read that. It’s obvious that the only way of becoming very wealthy is to persuade other people to give you some of their money. A little from many people, or a lot from a few people, or millions from some government that took it by force from taxpayers.
With a few exceptions - people who genuinely contribute something really useful to society - becoming wealthy is virtually a confession of criminality or, at the very least, immorality.
“Power tends to corrupt and absolute power corrupts absolutely. Great men are almost always bad men, even when they exercise influence and not authority: still more when you superadd the tendency or the certainty of corruption by authority. There is no worse heresy than that the office sanctifies the holder of it”
- Lord Acton (Letter to Bishop Creighton, 1887)
He might have added that the same applies to rich people. His final sentence might, today, read “There is no worse heresy than that wealth sanctifies the owner of it”.
Dalio is a fag.
Are you a fag, Mr. Kenny? If not, please identify yourself so that we can start calling you names.
Meaningless and worthless response, perhaps even more meaningless and worthless than your life itself. Dalio is charlatan and an imposter. The very fact that you would take your time to defend him means you’re an even bigger fag than him. Kys.
So he was a caddy at 12 years old to wall street types and had access to a stockbroker in 1961? Either bs or already well connected through family.
Feel free to google it.
https://en.m.wikipedia.org/wiki/Ray_Dalio
According to dalio himself at 12....
If you can't trust your parents or any adult, then who can you trust? It's better to observe in silence than get hurt for guessing wrong.
Wealth? I have cedar trees to pray with and the Pacific Ocean to meditate with. What is wealth? I notice that the pursuit of wealth shortens one’s life span. I prefer to lead a life free of avarice and neediness and fear.
I do not invest in anything but myself. I would never invest in the stock market. Ever.
Pig
Yeah? Well FUCK Ray Dalio. He’s conveniently forgotten to figure in the other parts of the psyche. In any system that is not in true balance there is always too much value placed in the Id and not enough use and reverence of the Superego. And if there is not balance it will always end in the decimation of the human race. Nice job, short-sited prick!
This is a regret?! I wish I had made small investments when I was younger. I have an investment acct. now with not enough money in it. I have an Acorns account. I love my Acorns account. It’s a small amount I put away every week and round ups. I’d love watching it grow. Please please. I know the market is bad right now, but try opening up an Acorns account and start small. No I do not work for this company.
Yuck. Good luck on judgement day.
The title looked so appealing but the article was not nutritious
The Marshmallow Test has been debunked
So simple, thank you for the reminder
Fuc u Ray - ur part of the problem!