I’m excited to explore the psychology of second chances, why we’re so skeptical when people change their minds, and if public opinion ever actually reflects personal beliefs. We’ll discuss Mark Zuckerberg’s apparent about-face on censorship, corporate flip-flops on diversity programs and the underlying forces behind those reversals. We’ll also cover the concept of preference falsification and why people often say one thing publicly and believe something entirely different privately. Then we’ll get into meme coins, the risks of hype-driven investing and why some tokens are just digital gambling dressed up as innovation. Finally we’ll talk about risk assessment, and I’ll share a weird tidbit about how martial arts training may have influenced some of the biggest business leaders today.

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Today’s episode:

• [00:57] Today I’m going to talk about second chances and why I’m very skeptical about giving people chances.
• [01:24] Recently, a lot of people have been changing their minds. Mark Zuckerberg has changed his mind on censorship.
• [02:50] For many people, public opinion and private opinion are not the same.
• [04:14] Social change happens when other people see people saying their private opinion out loud. Preference falsification is where people might falsify their public opinion for the sake of being accepted.
• [06:01] Dana White was having a conversation with Tucker Carlson about how he was invited to be a board member for Facebook.
• [07:31] He was invited to be a countering voice and will share his opinion if he feels the compass is off.
• [10:00] People rarely change and usually go back to their true self.
• [11:08] A meme coin launched by an African country to collect funds to support their government initiatives.  After people bought it the price dropped close to 100x.
• [12:48] A meme coin is like a token that represents an initiative that clearly states what they’re going to do with the funds. A classic example of this is Dogecoin.
• [14:27] They may not necessarily be illegal, but there’s a lot of incentive to manipulate it.
• [15:42] Risk and what it means to be skeptical or risk averse. Less is more when it comes to risk assessment. Identify the risk and how you’re going to address them.
• [18:51] Seeing risk everywhere and trying to disclose everything that could go wrong is not necessarily being responsible.

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• Private Truths, Public Lies: The Social Consequences of Preference Falsification

• How Self-Censorship Works: Preference Falsification Explained | Marc Andreessen And Lex Fridman

• Dana White: Joining the Board at Meta, the Bryce Mitchell Controversy, and His Friendship With Trump