The so-called AI is like an extremely dumb person with extremely strong memory, extremely strong guessing capability to fool people. The current AI models may give you the right answer most of times. But that’s NOT due to intelligence, but a quick answer from massive existing knowledge base from our civilization. You don’t think an encyclopedia having intelligence, don’t you?

AI isn’t making us smarter — it’s training us to think backward, an innovation theorist says

This is not real intelligence. There may never be real artificial intelligence.

I’ve Seen How AI ‘Thinks.’ I Wish Everyone Could.

In a 2019 interview with CNBC’s Becky Quick, Munger echoed advice from shareholder meetings and shared his secrets for a long and happy life. Here are five pieces of advice from Munger that undoubtedly contributed to his long life, financial success, and — most importantly — happiness.

1. Don’t overspend your income.

One key to success, according to Munger: “You don’t overspend your income.”

By living within your means, you can reduce stress surrounding debt, inflation and rising costs. I you are spending less than what you earn, you have a safety net if your expenses rise or your income drops. Plus, it frees up cash for investments and passive income generation.

2. Invest shrewdly

“It’s so simple to spend less than you earn, and invest shrewdly,” Munger told shareholders at one Berkshire Hathaway meeting.

“The big money is not in the buying and selling, but in the waiting,” he said.

He also advised that you should invest in businesses that virtually anyone can run. “If it won’t stand a little mismanagement, it’s not much of a business,” he said. However, don’t seek out businesses that are poorly run as a general practice: “We’re not looking for mismanagement, even if we can withstand it.”

3. Continue Learning

Munger had previously advised, “The game of life is the game of everlasting learning. At least it is if you want to win.” Munger also emphasized one of these best ways to gain knowledge: “In my whole life, I have known no wise people who didn’t read all the time — none, zero.”

4. Remain Disciplined

Hold on your principles. Don’t speculate. To achieve long term success, you need to be patient and do the right thing day by day and year after year.

5. Avoid Toxic People

While you want to seek out and surround yourself with reliable people, you also want to avoid the toxic ones, Munger advised. “A great lesson of life is get them the hell out of your life — and do it fast,” he told shareholders at one meeting. “If you do all those things, you are almost certain to succeed. If you don’t, you’re going to need a lot of luck.”

For Charlie Munger, living in a relatively modest house wasn’t an accident — it was a conscious choice.

Munger, the billionaire investor and longtime business partner to Warren Buffett, at the age of 99. He’d previously discussed his rationale for living in the same California home over the past 70 years.

“[Buffett and I] are both smart enough to have watched our friends who got rich build these really fancy houses,” Munger said. “And I would say in practically every case, they make the person less happy, not happier.”

A “basic house” has utility, said Munger, noting that a larger home could help you entertain more people — but that’s about it. “It’s a very expensive thing to do, and it doesn’t do you that much good.”

Another drawback to owning a mega-mansion, he added: Such an ostentatious display of wealth could spoil his kids by encouraging them to “live grandly.” Munger had nine children across two marriages, including two step-sons and a son who died of leukemia at age 9.

“[Buffett and I] both considered bigger and better houses,” Munger said. “I had a huge number of children, so it was justifiable even. And I still decided not to live a life where I look like the Duke of Westchester or something. And I was going to avoid it. I did it on purpose … I didn’t think it would be good for the children.

As Munger alluded to, Buffett lives similarly: The 93-year-old billionaire bought his house in Omaha, Nebraska, for $31,500 in 1958, and has lived there ever since. Buffett’s quality of life would “be worse if [he] had six or eight houses,” he reportedly said at Berkshire Hathaway’s 2014 shareholder meeting.

Munger often preached the merits of living modestly, giving advice like “don’t have a lot of envy” and “don’t overspend your income.” In the Thursday interview, he credited his success and longevity to a long-held sense of caution and an ability “to avoid all standard ways of failing.”

“Avoid crazy at all costs,” said Munger. “Crazy is way more common than you think. It’s easy to slip into crazy. Just avoid it, avoid it, avoid it.”