YouSaid · the spoken record

Dr. Robert Cialdini

lines on the record: 51
first: 2024-03-22
most recent: 2024-03-22
sittings or episodes: 1
sources: podcast

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“Yes, we go every year. And there's a bookstore there in the auditorium. And you have to be accepted. You have to be nominated by Charlie or Warren. And we'll be there again. So if people would like to say hello, we'll be at the Berkey bookstore.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Changes you can make to your persuasive approach that produce the biggest impact on your persuasive success. So those are the elements that we try to build into all our programs.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Well, it's an online on-demand educational program that informs people of how to be successful and ethical in persuading others in their direction. Anybody who is interested in it can just go to celldini.com and you'll come to our website and see what the program is like, what the various options are for interacting with us. And yeah, so we have four pillars in that. Everything we say has to be research-based. Everything we say has to be ethically commendable. Everything we have to say has to be applicable so we don't just provide a college course, but how do you apply this knowledge about ethical influence now that you know it? And then finally, we have something new called the small big, how to be efficient in applying this. What are the small...”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Minutes is that real or is it the fact that he gave me a soft drink that he told me that he was born in the same area as my wife grew up or that he complimented the car that my trade in and the good choice of the upholstery and colors and so on whatever you have to separate the salesperson from the thing he or she is selling and focus on the merits of the thing rather than the communicator who delivered those things that liking shouldn't be part of that decision because you're driving the automobile off the lot not the salesperson he or she is staying there that's you're getting the car so that's the the strategy i would use to step back From that situation and separate those two elements.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“I think, first of all, by the way, that's not just for the CEO and investor. It turns out there was a study done in India that auditors who like the CEO give them a freer ride in the audits. If you're from the same region of India or the same religion, they get softer audits because of those factors associated with liking. So for me, the general rule is, let's say you're buying a car and you really come to like this salesperson. And after half an hour or 40 minutes, you're ready to buy the car, you have to ask yourself, do I like this person more than is justified for being with him for 40 years?”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“He said, Did you ever in your wildest dreams picture me in the same places as those guys? And she said to me, Guy, you're not in my wildest dreams. So everybody laughed and they said, and now he was able to go on and present positive information about himself and what he had done at Apple without getting the reputation as a self-aggrandizer. No, he started out by puncturing himself, you know, his ego. That was brilliant.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“how he and Jobs came up with brilliant ideas. I mean, seismic changes in producing the success that Apple had. And that causes people to sort of move away from you. If they see you as a braggart, always being a broker of information, positive information about yourself, you start to lose credibility in their eyes. Well, he did something at the outset of his talk that punctured that sense of self-aggrandizement. He did a piece of self-deprecatory humor. He was saying to the audience, so I was on the phone to my wife last night and telling her about this conference and how I'm on this, the same dias as people like Celtini and people like Harari, you know.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Well, I mean, they try to infuse evidence that they are open and approving of you. This is the sort of things that they use humor that's a very humanizing kind of thing. You see that they tell stories about themselves, self-deprecating stories about themselves. Do you know Guy Kawasaki who was the communication guru for Apple under Steve Jobs? He was the chief evangelist for Apple. And as I say, I do public speaking. And we were on the same dais with one another. We were speakers at the same conference. It was an international conference. It was in Bucharest, Romania. And he had a problem, which was that in his presentation, he had to be very self-promotive, or it seemingly self-promoting. That is, he had to talk about”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“That, I think, was the key for me in what those charismatic and uniformly amiable and likable people do. They project their liking onto you rather than trying to pull it out of you. Both of those work, but I would take the first of those over the others.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Likes me, likes people like me. Well, I've been in a lot of sales training programs and they tell us the number one rule of sales is to get your customer to like you. Oh, that's very important. I think that's true, that works. I don't think it's the number one rule. I think the number one rule is come to like your customer. Come to like your prospect. Come to like your client. And when they see that, When they see that you like them, all kinds of barriers to decision making come down. So what Reagan and Clinton had was the ability to project onto others that they like people. They like people. If you're in either of them will like you if you had a chance to meet.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“You know, there are two people in national politics who were defined as Teflon. That is, they couldn't do anything wrong in the eyes of people because they were so likable. One was Ronald Reagan, the other was Bill Clinton. They just had this charismatic kind of engaging personality that came across for them. completely different in terms of their political orientations, but they did have this commonality. And if you look at the way that they talk to people, it revealed the key. They liked the people around them. They were people persons. They liked you. You got the feeling, even in an audience, this person”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Yes, yes, that's right. And so often that's the key. Those return favors, sometimes larger than the one you gave, right? That's a downstream side effect of giving. It's not the intent. That's just something that flows from naturally from it. Nobody loses under those circumstances.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Was glad to do it. I know that if the situation were ever reversed, you'd do the same for me, right? And everybody says right. So now they're waiting to have a chance to repay because you've put it on the map. You haven't claimed that it's nothing to worry about. Oh, no problem. No problem. You've heard that so many times. So often it isn't true. And we have to stay close to reality. What's true?”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“No, the world works better when people who give get something for it, otherwise they stop giving. So what I recommend is that if somebody gives you generously a phrase thank you, I appreciate this so much. So on, this sort of thing. We put it on the map. We don't dismiss it or diminish it or define it away as something else. So I would say if it's somebody inside your organization, what you say is, oh, I was glad to do it. It's what we do here for one another. So you just set the norm that this is what we do. And don't forget the addendum for one another. So that person is now readied. If you need something, this is what we do here for one another. If it's somebody outside of your organization, what I recommend saying is, oh, of course.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“given something to someone and they're very grateful and they reply so I really appreciate this and I used to do something where it was a big mistake I would I'd say oh don't think anything of it no big deal just you know no it wasn't a problem at all don't worry about it even if I went above and beyond to make sure they got this”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“And so that's another one of those things that we talk about at the end. So if you see that this was designed as a device, it was an artifice. It wasn't a true gift. It was designed to get you to do this thing, like the situation you described where somebody says, have you ever been in a hospital where you wanted better service? I can't remember exactly what it was. But it's designed to get you to do something. It's not based on the merits of the thing. And so that's the key is make sure that you make a differentiation between these things that people give you just to get you obligated to them versus people who are just open-hearted and want to give you things because they like you or they're that kind of person. They're nice people. There's another thing I talk about in this section on what not to do with reciprocity. And that's when we have...”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“That's right. There's so much wisdom there. And it's a reason why in every human culture we are trained from childhood in this rule. You must not take without giving in return. You must not take. We have very nasty names for people who take without giving in return, who we then avoid. We call a moochers or takers or ingrates. So we don't want to deal with those people as a consequence. Because it's so beneficial to the larger community, to the larger society, to have people cooperating and exchanging goods and favors and services with one another.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Half of them got the balloon as they were leaving as a gracious thank you for coming, frequenting our restaurant. The other half got the balloons as they came in. They got the balloons first. Those parents bought 25% more food because they had received. So this is, I think, the essence of you have to go first to trigger the benefits of the reciprocity rule and what Charlie's quote specified is exactly that. You have to have deserved what you've gotten by the action.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“The key for implementing reciprocity is that you have to go first. You have to provide something to another which causes them to want to give you what you deserve in return, right? So I think that's what he's saying. You have to go first. Really, you have to go first, provide gifts, favors, services, information to people not designed to improve the likelihood that they will see your offering as better. Just that they will feel grateful for being the recipient of something that's designed to improve their outcomes and not buy your product just in a general way. And so there was a lovely study done by McDonald's that showed that if for one week every family that came in to the McDonald's location received a balloon for each of the kids.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“And that increased purchases by 60% compared to the first generation ad. So you can put these together and produce Lalapalooza effects when there's a confluence of factors that all apply. I'm a great one from believing that when you see a big effect, a very large scale sea change kind of effect, it's almost never due to one thing. It's due to a conjoint unification of several things at the same time that are pushing in the same direction and that accounts for the mushrooming kind of effects that you see in Lalapalooza's.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Asked me to come in and talk about what other principles there might be that I could tell them about besides scarcity. And when I got to the principle on authority that people want to follow the lead of legitimate, credible experts on the situation, I saw lights going on over the heads of these folks because by then they had several testimonials from experts, from true authorities in the area of audio technology praising this new product. So what we did was to generate yet a third generation of the ad. This one said, hear what you've been missing at the top, but also had a column of quotes from widely respected experts in audio technology.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“That people are more motivated to avoid losing something, that is something that they can't get anymore. It's the ultimate form of scarcity. They're more motivated to avoid losing something than gaining that same thing. So I would just like you to change the wording at the top of the ad from new to hear what you've been missing. So now the idea is if you don't get this, you're missing something. You're losing something, which Daniel Kahneman's prospect theory showed is twice as effective as just telling people what they are getting. We don't want you to lose this. You don't want to forego what this will provide. And that increased purchases by 45%, that one change. Now, after that happened, the Bose marketing people”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“It does. When it's possible to see more than one of the principles applying to an offer, that elevates it. So a while ago, I was doing some consulting for the Bose Acoustics Corporation, and they had a new product. It was called the Bose Wave Music System, and they represented it in their ads as new. You'll be able to gain new features and simplicity and elegance and so on. And they weren't happy with it, with the advertising program, even though it was better than any of their rivals and they had priced it attractively. So they asked me to come in and change their ad and I took a look at it and I said, no, this is a good ad for Bose purchasers. They want this information that you're giving them. They're not spur of the moment impulsive kind of buyers. Going to ask you to change something at the top of your ad. Previously it said new.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Know it's the luxury products, it's the ones that have very high prices and there aren't very many available in the first place. Or there are when an automobile company has an exclusive model that is only available for a certain time or in a certain number of them. If you look at the research, it shows that customer appreciation of that model jumps up to the extent that it is not available. So Volvo did this a while ago with a special model and had that impact.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Yes. And I think the way to counteract the idea that because there's a lot of abundance, we don't really have scarcity is to recognize that within those available options, some are unique. Some give us uncommon and rare advantages. And those are still worth seizing. Even though there's plenty around, what we want is the ones that have scarce benefits for us to acquire if we make those choices, to think about the pattern of features. And it may not be that there's any one feature that this thing has that nobody else has, but it might be that this one has a suite of features that nobody else has, a combination of benefits that I can't get anywhere else. And that helps me make that decision to move forward based on the scarcity principle.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“As best we can tell, is honest. If we can't tell before we buy, we can do what I did. We can then experience it. And then if it falls short, if it really isn't what we expected or what we were told, then we can be aggressive and get online and review that place and that person negatively. We don't have to be passive victims of this. We can counter punch and reduce the likelihood that this sort of thing happens without penalties associated for the people who use these principles unethically.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“I would have been furious at him. What? It was the last one? And you didn't tell me about its honest, genuine scarcity? What's wrong with you, man? Right? So the key is I applaud people who use these principles on me. If they're honest, if they truly are accurate and they are representing the truth of whether it's truly scarce, whether there's true authorities or are recommending it, whatever the principle might be, it's the people who are deceiving us by counterfeiting that information. Those are the ones we have to watch out for. So that's what I think we have to do. We have to look not just at the information. We have to see the extent to which the information”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Or not. I didn't know if that was really the last one, or whether there were a bunch more in the stock room and they would just use this tactic to get people to buy and then they'd just replenish the spot with another set. But I bought it because, you know, I believe this guy. At least I thought, all right, this is a good enough deal. I want to seal the deal. I wanted to know if it was true. So I went back the next day. to see if there was another one of those models on the table. No, there wasn't. It was a blank space. So I was happy that this man told me it was the last one. If he hadn't told me, and I came back later that night to purchase, I went to think about it and I said, no, I really want this. And I came back and he said, oh, it's gone. It was a... our last one and a woman from Scottsdale.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“A very highly approved and evaluated set. So I was over there and I was reading some of the material that was associated with it underneath on the table. And the salesman came up to me and he said, I see you're interested in this set at this price. I can see why this is a great deal, but I have to tell you, it's our last one. And already I was, well, it's your last one. I started to get tense. And he said, yeah. And there was a woman who called a while ago who said she might well come in this afternoon to buy it. Well, they call me the godfather of influence, right? The guru of influence. 20 minutes later, I'm wheeling out of the store with that set in my cart. Okay, and I knew that it was the principle of scarcity that was being used on me. But what I didn't know was whether it was honest.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Unique advantages or benefits, and so on. Okay, well, the problem is when somebody counterfeits that information. Otherwise, living up to a behavior pattern in which you seize those opportunities, where you're dealing with a truly credible individuals or people who have given to you first and so on. And those things always make sense. They make for a better set of interactions with our partners, with our compatriots, our contemporaries, and so on. If we live up to seizing those opportunities that are there, and I'll give you an example from scarcity. A while ago, I was in an appliance store and I wasn't really looking for a TV, but I noticed there was a big screen TV that was on sale. And I knew from reading consumers' reports that this”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Right. And this is really an important question. In fact, in my book, Influence at the end of, you know, I have one principle of persuasion per chapter. I have seven of these universal principles of influence and I treat them. And then at the end of each chapter, I say, how do you say no when somebody uses this on you in an undue or unwelcome, unethical way? What do you do? Let's take the principle of scarcity, the one that says people want more of what they can have less of that things that are unique or rare dwindling in availability become more attractive to us and we want them more as a consequence. Usually that works very well. Those things that are scarce are leaving our possibility of obtaining something that's valuable. It makes sense to want to get those”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Tricked into it, right? Would you ever go back to interact with that guy? Would you ever partner with that person? Would you ever want to do business with that? So that's the cost that comes, as you say, down the line. There's that short-term hit, but you've alienated, you've poisoned the water for future interactions if you're that guy. You know, you're not the honest guy. You're not the honest one. So I won't deal with them in the future. Yeah. And I think most of us are like that.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Have you ever dealt with somebody who tricked you into a decision, a purchase, or got you to buy something, and then it was not at all what was claimed by this person, right? Have you ever been, you know, we all have.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“I think I would be at a disadvantage. So I said, well, look, if all the others are doing this and you're not, think about the reputation you would generate as being the ethical one, being the honest one, being the trustworthy one that people can deal with. That's gold. So it's gold. Don't fumble that away if you can generate it honestly.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“You always have pros and cons. And the key, if you want to follow the lead of Buffett Munger, is to mention those weaknesses, those shortcomings in your case early in your presentation so that everything after that is perceived through the lens of, oh, this person is a credible, trustworthy source of information. I can believe the positive things this person is saying. So I was making that case, and a hand goes up in the Q&A period, and somebody says, you know, I have competitors. They bury those negative things. They never speak about them at all. And if I'm the one who talks about them, and then, you know, I'll accept your view that then I can bridge to the positive ones, but by mentioning a negative one in the first place,”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, so in this, let's first talk about the idea of the perception in the eyes of your prospects or colleagues or customers, clients, that you are ethical. It's a remarkably positive lever for change in your direction, in the direction of the recommendations or proposals that you're making to people. I speak, I do public speaking these days, often to business organizations. And I was at a group of real estate investors and salespeople actually, some real estate salespeople. And I was talking about the importance of if you're presenting a case to”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, what we've been talking about is essentially the sunk cost fallacy. The more you've put into something, the more reluctant you are to admit to the error that you made a bad choice, that you are a bad decision maker. People don't want to believe that about themselves and they don't want the people around them to see them that way either. Okay, I took this big loss. They're more willing to hang on and hope that it will eventually succeed in ways that validate their decision making. And that sort of keeps them from pulling the trigger when all the evidence suggests, no, you need to get out of this. This isn't a good choice now and it's going to be a worse choice in the future.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, so what it, in fact, Jeff Bezos even admitted to it, he said, we want to give these folks the opportunity to leave us and even give them an incentive to a considerable amount. But we don't want them to leave. We want them to recognize that they don't want to leave even at that level because that commits them to the job. The idea that, no, this is what I'm choosing. And if you know the literature on organizational dynamics, people are more productive the more committed they are to the work. So with this strategy, by the way, very few people ever took the deal. I mean, it's like less than 5% ever do. So you get 95% of people making a choice that Commits them more deeply to their work and as a consequence improves their productivity. That's a good deal.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, it's the idea that because you've put a lot of money into something, you don't want to get out because that will be a loss. Even though all the signs are you're going to continue to lose unless you get out, the fact that you have made that initial commitment causes you to try to make it work somehow or through wishful thinking, try to conjure away that you can make that the situation will improve that's really a mistaken way of thinking of working through decision making. You've got to disengage from that commitment when the evidence is clear that it is not going to rescue you down the line.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“This is inherent in another mistake that we often see people make when they have a favorite approach, a favorite way of doing things or a particular tool that they want to advance. And he says, you know, there's this saying, when you're committed to a hammer, the whole world looks like a nail, right? And he pointed to me and I said, yeah, and the more you've paid for that hammer, the more nail-like the world appears. And that's the first time I ever made him laugh out loud where he leaned back at Roy. But I think what he's recognizing is that we can get trapped by certain kinds of commitments that we make. And we really have to vet them fully before we go all in with those kinds of commitments.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Your life, what would be the problematic aspects that would apply if it didn't? And sometimes if you haven't thought about those, you're making a judgment that is incomplete. You haven't really thought it completely through. And I remember that ride and that conversation as a very important to me because he's right when I would make a choice. I would think mostly about the benefits, the advantages that would accrue if it was successful, if it was a good choice, not about what the damages that might accrue if it went south. That was one thing. I remember another thing that he said he was talking in his afterwards, there was a Q&A and he was talking, he kind of pointed to me and he said, you know, there's this principle of commitment and consistency.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“The sheets, you know, but so we then went to the address and we talked about things that we both recognized would be important in human behavior and making choices that lent themselves to final good decisions. And we both hit upon in a conversation on the drive over there the importance of considering the opposite of what you are intending to achieve. That is, always think now what would happen to us if this doesn't work? What would be the damages associated with that mistake? And be sure you've recognized them because it might not work. Nothing's certain. This might not work. And you have to think about not just what the enhancements would be if it did work.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“In that particular situation, he was going to be giving a major address at Caltech. And he invited me as his guest and asked me to come and spend the night before at his place. And I have to tell you, that was intimidating. Not the surrounding. It wasn't some palatial mansion. It was a very wonderful and beautifully furnished plenty of great artwork and so on around. But it was intimidating because there I was on the home grounds of this man who was a mentor to me, a hero to me. And so I was always walking on a thin ice, I thought. You know, I had to do everything right to make every change. They had me stay in a beautiful guest room. And I didn't even want to ruffle the covers. I didn't want to mess anything up. I'm trying to figure, how do I sleep without touching the...”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“There was another thing that impressed me to my core about him. He said to me once, the reason one major rationale for accumulating wealth is to have it available for those people who don't have it in times of trouble. So it's not self-aggrandizing. It's not the idea of I accumulate wealth for my own purposes, for my own ego, whatever. It's no to have it available and to include others in those resources. That's a rationale for generating it in the first place that is so entirely morally responsible and commendable. You know, it's a great indication of how Charlie thought about succeeding. He wanted to have the The wherewithal to help others succeed in times of trouble when they were in a predicament.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“That wall is trust, is evidence of trustworthiness. And both Charlie and Warren have that in spades, and they're not only brilliant financial analysts and investors. They're brilliant communicators about how good they are as financial investors. They make us register the truth of what they're recommending by first showing us their credibility. I mean, it's just brilliant and rare.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Wrong. That structures for the observer, for the reader, something else that's a powerful principle of persuasion. These are credible sources of information. If they will tell us honestly of what they did poorly, then I want to listen when they tell us what they did well, because that's going to be honest too. They're not pulling any blankets of positivity over our eyes when they tell us about good choices they made because they've established themselves as honest sources of information by being willing to talk about their failures, now we believe them more. You know, there's a wall of incredulity between a messenger and a recipient of the message, right? To what extent should I believe this person? And one of the things that tears down that...”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“That went wrong. We didn't staff correctly. We didn't properly think through this initiative that we started. Those companies that assign the problem to themselves have significantly higher stock prices a year later. Because observers say, oh, this is fixable. This isn't beyond their control and they're on it. They're working to create this is what the people at Berkshire do, what Warren and Charlie do. They say we messed up here. That will never happen again because we will never do that again. We'll never pay for an acquisition with our shares. No, we're not going to do that anymore. The other thing is that's interesting is Warren does this. He likes making those admissions very early in his annual report. First or second page of what went”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“All concern. So I think that's the thing that they're talking about. Giving information, giving steps and procedures that have allowed them also what they do is to give information about mistakes that they've made. They tell us when they have made an error and how they have then acted to prevent that from occurring again. I saw an article that showed that companies in their annual reports that describe a loss as something beyond their control. It was weather conditions or it was an unexpected strike at a manufacturing plant or something associated with supply line disruptions and so on, the COVID, you know, when they do those kinds of things versus those people who describe a negative outcome and attribute it to something inside the company.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Do something you see that's very rare in the business world, and that is they tell people and they feel it that it's their obligation to tell people how they made their money, the strategies they use, the approaches they use, the values that they adhere to in order to acquire this kind of wealth that they have achieved. They give that first. They give that out so often. What you find is people being very proprietary about the ways that they got to success. What Charlie always told me is that it's the obligation of people who have done well to show others how to do well. That way we have a better functioning and a happier and a wealthier society because we spread the information of how to operate within that society in ways that benefit”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT
“Had any contact with, and he said, in your book Influence, Your Principle of Reciprocity, which is that we are obligated to give back to those who have first given us, compensation in return. That's the way the world should work. Well, your book has made us so much money at Berkshire. You're entitled to this in return. And it was a share of, it was about $75,000 at that time. Well, if you're up on this morning's stock market, you know that it's over $600,000 now. And yes, the best financial decision I've ever made is to hold on to that share.”
2024-03-22 · We Study Billionaires · TIP616: The Godfather of Influence w/ Dr. Robert Cialdini · IDENTIFIED FROM THE TRANSCRIPT