The Dutch Investors #81 | Lessons on what never changes | Same as Ever - Ep. 5
Feb 18, 2026
They explore incentives as the prime mover of behavior, using historical stories to show how pay and pressure shape choices. Time horizons and the real cost of long-term thinking get dissected, with tales of investors panicking despite good returns. They challenge our love of complexity and argue for simple, durable approaches tied to stable human desires.
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Incentives Drive Behavior More Than Morals
- Incentives are the most powerful force shaping behaviour and outcomes.
- Changing incentives aligns self-interest with better results faster than moral appeals.
Nigerian Scammer Explains Rationalization
- A Nigerian scammer posed as an American fisherman and scammed widows for 20 years.
- He said poverty made his need to eat stronger than his incentive to be honest.
From Pizza Delivery To Subprime Banker
- A pizza delivery man became a subprime mortgage banker and earned vastly more overnight.
- He signed up unaffordable loans because the pay made quitting to return to pizzas practically impossible.
