Useful and Overlooked Skills

1. Calibrating how much you want something to be true affects how true you think it is.

• Believing something is true increases its perceived truth. This applies to investing, where big bonuses lead to overconfidence.
• With huge rewards, the mind is occupied with the reward, not strategy or reason.
• People spend more time researching a washing machine than an investment. Rewards require added skepticism.

Respectfully interacting with people you disagree with.

• Confirmation bias is easier when you're connected, but you'll also encounter more dissenters.
• People get angry with new views, but we must learn to handle them gracefully.
• One of the most important skills in the Internet age is dealing with disagreement.

To make this task easier, find someone whose views you respect (at least partially) and discuss the issues you disagree on with them.

The ability to have a 10-minute conversation with anyone from any background.

In today's world, technology has replaced in-person conversations and even skills like cursive writing. However, having the ability to connect with and have a conversation with anyone is a valuable skill that can set you apart.

• Conversing with people from diverse backgrounds is a crucial skill that can open doors and build relationships.
• Technology may be convenient, but it lacks the personal connection and depth of a face-to-face conversation.
• Taking the time to truly listen and connect with someone is becoming a rare and valuable skill in a digital world.

Getting to the point.

• Everyone’s busy.
• Make your point using as few words as possible and get out of their way.

Diplomatically saying “No.”

Saying “no” can be difficult, and often people either avoid it or come across as stern. Both approaches can be damaging.

A diplomatic “no” is when you are honest and understanding of the other person's feelings.

Two damaging ways to say “no” include:

1. avoiding the answer 
2. being unintentionally harsh.

A diplomatic “no” involves being honest, yet empathetic.

E.g setting boundaries with family and committed partners, balancing family demands, avoiding overcommitment at social settings, managing debts etc. 

Respecting luck as much as you respect risk.

Ever wonder why things don't always go as planned? It could be either because you took a risk or because you were lucky. Risk is the result of good decisions that lead to an unfavorable outcome, while luck is when you make poor or average decisions but still get a great outcome.

Luck = good outcomes from mediocre/ bad decisions🎲

Risk = bad outcomes from good decisions🤞

Luck and risk🗝

Yet both are beyond your control because the world is too complicated for your actions to determine the outcome completely. 

Although risk is easier to accept, luck tends to be avoided as we don't like to think that our success may not be attributed to our actions.

• Therefore, it is essential to understand that your successes may not always be a result of your actions and that learning from both your successes and failures can bring valuable insights.
• So when things don’t go as expected, don't blame yourself entirely; instead, consider the role of luck and risk in your life.
• It can be tough to realize that luck plays a significant part in success but recognizing it can help you learn and grow from your experiences.