Charlie Munger advocates for a non-egalitarian approach in business and investing, emphasizing the selection of individuals based on skills and abilities rather than equality. He cites basketball coach John Wooden's strategy of prioritizing top players for better performance and argues that this principle applies broadly, including in fields like surgery where expertise is crucial. Munger believes that a meritocratic system, where the most talented individuals are given the most responsibility, leads to better outcomes than treating everyone equally regardless of their capabilities.
The sentence "The Fauns footed it all round Caspian to their reedy pipes" is likely from C.S. Lewis's "Prince Caspian" and describes a scene where Fauns, mythical creatures with the body of a human and the lower body of a goat, dance in a circle around Caspian while playing music on their reed pipes. This imagery creates a celebratory and magical atmosphere, characteristic of C.S. Lewis's whimsical writing style in the Narnia series.
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