Page 109 - Psychology of Money - Timeless Lessons on Wealth, Greed, and Happiness-Harriman House Limited (2020)

That’s now changed.

COBACOBA
A hyper-connected world means the talent pool you compete in has gone
from hundreds or thousands spanning your town to millions or billions
spanning the globe. This is especially true for jobs that rely on working

with your head versus your muscles: teaching, marketing, analysis,
consulting, accounting, programming, journalism, and even medicine
increasingly compete in global talent pools. More fields will fall into this
category as digitization erases global boundaries—as “software eats the
world,” as venture capitalist Marc Andreesen puts it.

A question you should ask as the range of your competition expands is,
“How do I stand out?”

“I’m smart” is increasingly a bad answer to that question, because there are
a lot of smart people in the world. Almost 600 people ace the SATs each

year. Another 7,000 come within a handful of points. In a winner-take-all
and globalized world these kinds of people are increasingly your direct
competitors.

Intelligence is not a reliable advantage in a world that’s become as
connected as ours has.

But flexibility is.

In a world where intelligence is hyper-competitive and many previous
technical skills have become automated, competitive advantages tilt toward

nuanced and soft skills—like communication, empathy, and, perhaps most
of all, flexibility.

If you have flexibility you can wait for good opportunities, both in your
career and for your investments. You’ll have a better chance of being able
to learn a new skill when it’s necessary. You’ll feel less urgency to chase
competitors who can do things you can’t, and have more leeway to find
your passion and your niche at your own pace. You can find a new routine,
a slower pace, and think about life with a different set of assumptions. The

ability to do those things when most others can’t is one of the few things