So, I’m listening to an audio version of the book The Snowball, a biography of Warren Buffet (I highly recommend, by the way). In it, one of Warren’s early mentors talks about the difference between Class One and Class Two truths. A Class One truth is absolute. Think about the law of gravity or the speed of light. A Class Two truth is one that becomes true through conviction. If enough people are willing to pay a certain price for an item, then that becomes its price…until they change their minds (convictions).
Why is this important? Well, the first is that it is important to know if something you believe is Class One or Class Two truth, so that you know where you stand. Second, I believe that there is a lot more Class Two truth, and a lot less Class One truth, than most people think, and that means that the world is a lot more malleable than we think, for better and for worse.
If you like this post, please consider following Dave Kaiser and Dark Matter Consulting on FaceBook and Twitter
technorati tag: DJTEVNRBUDXK


Someone said, The answer of any question is either Yes or No.What I perceive from it is Truth is simple and explicit and Lie is viceversa. Einstein once said,”If you can’t explain it simply you don’t understand it well enough.”So in my view(you may have your respective views in this domain) there are no classes of truth.What we need is to well define our Truth definition after well define our definition of God.
I don’t think it’s that simple, Suhaib. If I ask you what your favorite food is, the answer isn’t going to be a Yes or No.
Sounds like class 2 would not be a socially free society, not being sure or on just faith alone-It grows fear with time.
It’s not either / or. There is already both class one truth (the law of gravity) and class two truth (real estate prices) at work all the time.