A cheat code I wish I could teach my 18-year-old self...
The 4 Types of Luck:
In 1978, neurologist Dr. James Austin published a book entitled Chase, Chance, & Creativity: The Lucky Art of Novelty.
He proposed that there are 4 types of luck:
(1) Blind Luck (2) Luck from Motion (3) Luck from Awareness (4) Luck from Uniqueness
Here's what they are:
Type 1: Blind Luck
Completely out of your control:
• Where you are born
• Who you are born to
• Base circumstances of your life
• "Acts of God"
Truly random occurrences of the universe.
Type 2: Luck from Motion
You’re creating motion and collisions through hustle and energy that you are inserting into an ecosystem.
You increase your luck surface area through simple movement.
The increase in collisions opens you up to more lucky events.
Type 3: Luck from Awareness
Depth of understanding within a given arena allows you to become very good at positioning yourself for lucky breaks.
@naval says: "You become very good at spotting luck."
You can “spot luck” from a mile away because of your knowledge and experience.
Type 4: Luck from Uniqueness
Your unique set of attributes attracts specific luck to you.
“[This type] favors those with distinctive, if not eccentric hobbies, personal lifestyles, and motor behaviors.” - Dr. James Austin
Type 4 Luck actually seeks you out.
I think of Type 1-3 as coming in stages as you grow up:
• Type 1 dictates the early years of your life.
• Type 2 comes into play as you begin to hustle in your 20s.
• Type 3 sets in as you develop experience in your 30s.
Type 4 is unique—it’s dislocated from age dependency.
To recap the 4 types of luck:
• Type 1: Blind Luck
• Type 2: Luck from Motion
• Type 3: Luck from Awareness
• Type 4: Luck from Uniqueness
I’ve been experimenting with AI financial tools. The new AI Advisor release from Origin is neat.
Every day:
1. What happened in markets 2. What it means FOR YOU
Then prompt AI Advisor for recommendations based on trends.
(not an investor, just a user and fan)
The power of stuff like this is in democratizing access to sound financial advice.
There’s a huge segment of the population that will be able to connect financial accounts and get personalized/customized financial guidance at a strong CFP level.
I don’t think it eliminates human financial advisors.
More like augments + broadens access to important information.