“Time is a powerful force. It transforms our preferences. It reshapes our values. It alters our personalities. We seem to appreciate this fact but only in retrospect.”

Dan Gilbert: ‘The one constant in our life is change’

By Matt McFarland Updated: June 4 at 8:35 am

How much would you pay to see your favorite artist play in 10 years? Psychologist Dan Gilbert found that the average person would pay $129. But what would you pay to see your favorite artist from 10 years ago play today? According to Gilbert, it’s only $80.

“In a perfectly rational world these should be the same number. But we overpay for the opportunity to indulge our current preferences because we overestimate their stability,” Gilbert explained in a memorable TED Talk on how humans are constantly changing.

“Time is a powerful force. It transforms our preferences. It reshapes our values. It alters our personalities,” Gilbert said. “We seem to appreciate this fact but only in retrospect. Only when we look backwards do we realize how much change happens in a decade.” For us, remembering the past is much easier than imagining the future.

You can watch the entire talk below. There are valuable lessons for anyone, whether you’re debating getting a tattoo or trying to make sure your business keeps up with changing times.

http://www.youtube.com/watch?v=XNbaR54Gpj4

 

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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