Carl Icahn: Get Rich Off Natural Stupidity
on Saturday, October 24, 2015Carl Icahn in a play on words saying he studies poorly run businesses to correct those errors and reverse them in order to make money rather than looking for smart, well run companies. Carl Icahn said:
“Some people get rich studying artificial intelligence. Me, I make money studying natural stupidity” — Carl Icahn
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In this quote, Carl Icahn is contrasting different ways that people make money in business and investing. He acknowledges that some individuals get wealthy by studying and applying artificial intelligence or advanced technologies.
However, Icahn implies that his own approach is to make money by studying and taking advantage of “natural stupidity” – meaning the inherent human tendencies towards irrational behavior, poor decision making, lack of foresight, greed and other faults in judgment.
Icahn seems to be suggesting that he profits from identifying situations where other people or organizations are acting foolishly or against their own best interests due to stupidity.
His comment implies a somewhat cynical view that opportunities exist to profit from the weaknesses and mistakes of others rather than just from supporting technological progress.