Game Theory #3: Rich Dad, Poor Dad

Today we look at the question of success. Okay, the question is who succeeds and why? Okay, so we we've done a lot of research and we've discovered that people who who succeed um succeed for certain reasons. So there is a Colombia psychologist named Walter Mitchell and he devised a very famous experiment called the marshmallow test.

In the marshmallow test, it's very very easy. Okay. So imagine a room and I invite a fouryear-old or 5-year-old to come into this room and have a conversation with him or her. I ask him, "How's your mother? What do you like to do?" And it's a very good conversation. Then suddenly I get up and say, "I'm

really sorry, but I need to go across the hallway for another meeting, but I'll be back. Okay? So just wait for me. And here and here, I'll make you a deal. Here's a marshmallow. I'm going to put a marshmallow in front of you. and you can have it right now, but if I

come back and the marshmallow is still there, I will give you two marshmallows. Okay? And and then uh Walter Mitchell, he goes away and he goes behind the room and for a seeth through mirror, he's able to see the students as they struggle to contain themselves because obviously they want two marshmallows. And there are some students who can in

fact resist the temptation to eat the first marshmallow and then a second marshmallow. But then there are others who cannot. And Walter Mitchell will spend 50 years just tracking them. Okay. What he discovers is this. The students who resist the temptation who get the second marshmallow there are much more likely to do better in school. They have higher

test scores. They have better careers. their careers are more stable. They get promoted in their careers. They're much more able to find a stable relationship. Um they avoid jail. They avoid drugs. They avoid alcohol. They're more lean. They're more fit. They live longer, better teeth. And those who cannot resist and eat the first marshmallow right