The Dunning–Kruger effect is a cognitive bias where you believe the little you know is all there is to know. People with the least expertise often overestimate their knowledge (e.g., I know how to change a tire, that must be all there is to know about a car; or, I heard of Bitcoin, I know everything there is to it). Inversely, people with the most expertise get to a point where they understand how little they really know in the grand scheme of things (e.g., I know how to fix an engine, the other parts must be just as complex). If you're always living in temperature control, you may not realize how many people are suffering because of the heat. This buffer from the big picture is a nice shield for your ego. After all, the larger the picture, the smaller you look. But it takes someone with high intelligence to see the grand scheme. Intelligence requires humility and grit. Hubris and arrogance are good indicators of stupidity.

The Walled City (Gated Community)

This type of insulated thinking goes back centuries to the bourgeoisie (as early as 476 BCE). Now it's used to mean a person from a wealthy class that is materialistic. The Old French root word is "burgeis," meaning "walled city." Bourgeoisie would then be a citizen of the walled city. They wanted to remain separate and out of touch with the mainstream body, they only cared about what they cared about. Everyone else was insignificant, like segregationist beliefs in the US. After countless wars, revolutions, protests, and reforms, some things have changed, but much of the behavior remains. ("Wall Street" literally used to have a wall. We must unconsciously be aware of this because "Wall Street" is now the common expression for the impenetrable space for the one percent.)

"Bourgeoisie" is an antiquated expression, replaced with terms like elite and privileged. Being "elite" is the notion that you are better than the public, which can be incongruous with the welfare of the public. Put into historical context, it is an age-old sentiment of the citizens of a gated community.

Everyone Likes Being the "Cool" Kid

No one likes admitting they live in a bubble because it makes them feel like a "square." Why is a square even an insult? It was originally meant for someone unsophisticated, from the country. A bubble is the new "country." Even in the context of an economic bubble, when the rest of the market doesn't agree with the views of the bubble, the bubble pops.

Sophisticated investors would often call people who aren't looking far into the future: rubes. A "rube" is someone who is dull, rigidly conventional, and out of touch with current trends. Not looking beyond their nose. "Coolness" has always been about having your finger on the pulse of change. Sometimes adopting something before anyone else is even aware of it. From the first kid to get a Nintendo to the first kid to kiss someone—on the mouth—all "cool" things. Then what's cooler than forward-thinking? It's an extension of what we've always found valuable: progress.

The opposite of this sentiment is the feeling of FOMO (fear of missing out). You don't know what's cool or what current trends are, so you try everything—out of fear of missing the next big thing. This is the strategy of many venture capitalists. Try everything, diversify risk. That's the benefit of wealth, you can keep going back up to bat. Because, when one of these dark horses win, they win big (think Apple and Google). However, it can be an unsettling way to live. And without wealth to diversify, it can cause its own financial problems.

The World Will Change With or Without You

The writing was on the wall, things were changing, it was inevitable. The automobile had arrived and like any change, there were three types of reactions:

Those who denied it as a passing fad.

Those who were fearful for their livelihood.

Those who embraced the change.

I live by one simple motto: always be learning. If you were to reduce Buddhism to one single thought, it would be: all things change. Change is ubiquitous, yet there will always be those unaware. If there is one absolute, it is that nothing can remain the same. You can try to remain static, that is your choice, but that will not affect the actions of the rest of the world.

People said the internet was a fad. That digital would never replace film, that travel agents would be the only way to buy airline tickets, streaming TV would never compete with regular TV, and that people would never choose to read things on the internet—only sticking to newspapers, magazines, and books. People like you who are reading this now, people denied you would ever exist.