Delayed Gratification Works


#1

In 1877, James McNeill Whistler exhibited a new painting at a London gallery. This was six years after Whistler had painted “Whistler’s Mother”, known today as the Victorian Mona Lisa. The new painting was inspired by the London pleasure resort Cremorne Gardens. See below.

Leading Victorian art critic John Ruskin was at the gallery. Ruskin saw Whistler’s work and wanted to vomit. Ruskin published a scathing critique. He accused Whistler of “flinging a pot of paint in the public’s face.” Even worse Whistler charged a ridiculous price of 200 guineas for the painting.

Whistler sued Ruskin for libel.

On November 25th, 1878, the trial took place. Whistler was on the witness stand that day. He was questioned:

Attorney-General: Can you tell me how long it took you to knock off that nocturne?

Mr. Whistler: … Two days.

Attorney-General: Oh, two days! The labor of two days, then, is that for which you ask two hundred guineas?

[According to the UK’s National Archives, a skilled tradesmen earned 1 guinea for ~3 days of work. Whistler’s price was worth the daily wages of 618 skilled tradesmen. Or ~$17,000 in today’s dollars.]

Whistler’s response was: No! I ask it for the knowledge of a lifetime.

Yes. You can create a masterpiece in two days - after years of effort.

Delayed Gratification Works.


Fast forward 140 years.

Alex Honnold did the impossible. Alex climbed a 3,000 foot vertical slab of granite free solo. That is without a rope or harness. Normally the climb takes 2 to 3 days with a rope. Alex did it in 3 hours, 56 minutes without aid.

Alex’s feat is the equivalent to:

Climbing the Empire State Building twice.

Or

Climbing the Burj Khalifa, the tallest building in the world, one time.

Without any safety equipment!

To Honnold the climb “felt as natural and comfortable as a walk in the park.”

Immediately after the climb Alex said:

“Kids, that thing takes about four hours to climb by yourself - after years of effort.”

Delayed Gratification Works.


Both James Whistler and Alex Honnold did things ordinary skilled mortals couldn’t. That is the definition of an intelligent fanatic.

Neither possessed natural ability. Nor were their achievements the fruits of blind labor. Both mastered the key tenet of intelligent fanaticism: delayed gratification. Proper preparation gave them ability.

Their preparation was eerily similar.

Honnold prepared his climb for years. He memorized every single hand and foot movement for the whole 3,000 ft. ascent. That was thousands of motions. Each action was so deeply ingrained that each was automatic and effortless.

Whistler spent years memorizing scenes. For example prior to painting his Nocturnes, he’d go to the scene at night. He’d memorize every single detail he saw. Then, turning around, he’d recite to whomever was with him every detail. The listener corrected errors. The following day if Whistler couldn’t see the completed picture on the untouched canvas, he passed another night looking at the subject.

This prepayment is found in all intelligent fanatics, regardless of field.

As Alice Schroeder described Warren Buffett:

“Most people learn by seeking information on an as-needed basis. Warren is always looking for fuel for pattern recognition before he needs it.”

Buffett had read everything he could find about business by age 6. Since he has gobbled up everything he can find on the subject. It helps he retains what he reads. That immense filing cabinet of business data in his head is a huge advantage. It allows him to make a decision automatically and immediately. His preparation has created the most incredible deal sourcing engine in the world.

Other business titans mastered delayed gratification.

John D. Rockefeller, known as the richest person in modern history, was a tough nut to crack in his day. He rarely ever gave an interview to a reporter beyond a few words. This was especially true after Rockefeller built Standard Oil. B.C. Forbes easily got 78-year old Rockefeller to “spill his guts” in many interviews. Forbes described his copious amounts of preparation here.

Magic Johnson is the rare athlete who has thrived after sports. He prepared to be a CEO exactly like he prepared to be a Hall of Fame basketball star. He learned from the best. He acquired business mentors such as Howard Schultz, CEO of Starbucks, and many others.

Jeff Bezos easily rode through the Dot Com bust because he delayed gratification. He vacuumed up details from history. Most viewed the internet’s boom and bust as akin to the gold rush. Bezos disagreed. He believed the evolution of the electric industry as a better analogy. He was correct.

John Patterson dominated the cash register industry at every step. He properly prepared by reading and reflecting on (auto)biographies, history and other books. Learn about his preparation habits here.

Steve Jobs was a masterful presenter because he prepared. Bill Gates once said: “I was never in his league. I mean, it was just amazing to see how precisely he would rehearse.” Before his 2005 Stanford speech, Jobs walked all around the house for days, reciting it over and over. And before MacWorld presentations “he would rehearse on stage for many hours over many weeks prior to the launch. He knew every detail of every demo and every font on every slide. As a result the presentation was delivered flawlessly.”

Musicians and authors pre-pay their way to virtuosity, too.

As I described in our online course “Standing on the Shoulders of Giants”, Charlie Parker, jazz saxophonist, changed jazz music. Parker delayed gratification. He practiced 11 to 15 hours a day. He did it for 3 years. He memorized every single note Lester Young, saxophonist for Count Basie’s Orchestra, played. Kenny Clarke, jazz drummer, described how Parker sounded “like Prez, like Lester Young.” Later Parker developed his own style by utilizing ideas from other musicians.

Ray Bradbury became one of the most celebrated American authors of the 20th and 21st centuries because he delayed gratification. He didn’t go to college. He went to the library 3 to 4 times a week for 10 years. He didn’t begin writing novels. He wrote a short story every week for 10 years. Finally, he wrote his most famous novel Fahrenheit 451. It sold more than 10 million copies.

Making Delayed Gratification Work

Delayed gratification isn’t all about marshmallows. Nor does it apply only to money. It is about resisting the temptation of any immediate reward. It is preparing vast amounts of information. To be ready for that once in a lifetime opportunity many years down the road.

Delayed gratification works, but it is not easy. Properly preparing is hard. As James McNeill Whistler said, “It’s the pain of giving birth!”

All the above individuals accepted the challenge. They happily did the work. They knew the return would greatly exceed the cost.

For Alex Honnold each move could have meant death. All his preparation equaled confidence in climbing El Capitan. He said:

“It felt much less scary than a lot of other solos I’ve done… Probably all of them. Because I put so much work into this one… I knew exactly what to do the whole way. A lot of the handholds felt like old friends.”

Prepare on an as-needed basis and risk falling “to your death” at every obstacle. Don’t rely on mere luck to bail you out.

Prepare correctly. Take the right path. Work smarter. Stand on The Shoulders of Giants. Every intelligent fanatic does it. You can be confident to work as hard as you want. Otherwise, you’ll waste precious time and never achieve your goal.

Understand the paradoxical art of simultaneously doing and not doing.

At Intelligent Fanatics our goal is mastering delayed gratification. To possess the ability to keep up with the fast tempo of business/investing, adapt to the quickly changing harmony or moving landscape, and make it look effortless. It starts with preparation.

Does that sound like you too? Join us today.


#2

This advertisement of Motilal oswal, Indian equity broker captures delayed gratification beautifully, Everyone in this video must have practiced hours and hours before become master of this.

Also would like to share one of my real life experience.

Few days back I was traveling from Bhandup to Thane ( Suburbs in Central Mumbai) and was waiting for bus.

I knew there’s a direct bus to thane.

Standing and waiting I saw not less than 25 buses passing through which was ending it journey at Mulund, A stop just before thane.

While those buses were passing,I had this thought, I can board a bus till Mulund from there take some other mode of transport. ( Want to have instant result)

After waiting for almost 20 MINS I boarded to direct bus. Than I realized my direct bus saves on so many things.

1.Money wise via Mulund would be costly.

Direct Bus Bhandup to Thane - Rs 15.
Auto Bhandup to Thane - Rs 70.
Break up Bus Journey - Rs 25.
Break up bus + auto journey - Rs. 45.

2.By doing break journey, what was no guarantee that I will have my connecting bus or auto ready.

According to me situations like this tests our delayed gratification. It should be indwelling power within us which can be replicated in behavior elsewhere.


#3

@seaniddings, I really enjoyed this post and have nothing to say - at the moment - other to say than: wow. Thank you :raised_hands:.


#4

I had another take on something similar what you have written which is as below.

Assuming that you wish to travel from Churchgate to Borovali by local train. You are standing on a platform number 1 at Churchgate station where slow train arrives. Suddenly you hear that on another platform a fast train to Borovali is arriving. So, you run to catch that fast train. But you are late by 10 seconds to catch that fast train. So, you rush to platform number 1 to catch slow train. But by the time you reach there that slow train has also departed. So, you are left out from both slow and fast.
As long as you are sure that the train which you are waiting for will make you reach to your desired destination, you must not be impatient.
Is it differed gratification which always works?
Regards.