Learn more about personaldevelopment with this collection
Identifying and eliminating unnecessary expenses
How to negotiate better deals
Understanding the importance of saving
Overconfidence bias
Most people think they know more than they really do.
Researchers showed that people believe they understand familiar manufactured objects much better than they really do. For instance, if you think you understand how a can opener works, try to draw a diagram of a can opener on a piece of paper. If you can't draw, write out a detailed explanation. Then, find out how it really works.
130
881 reads
The details that form our reality
When we don't understand the details, it can cause much trouble. If a nation is overconfident that they will win a war, they will fight more wars. An investor that is to sure of their estimate of an asset's value will trade too much.
The world is too big to process and understand everything. We have to oversimplify the world to be able to function in it. The difficulty is that we don't think our models of how the world works are oversimplified. We believe they are correct. This creates a hidden risk.
134
538 reads
The hidden risk of not understanding the details of our reality
Focusing on specific details in a complex system while ignoring the amount of detail contained within the system may at first show a benefit. However, it can create a massive collapse in the long-run.
In the late 18th century, the German government wanted to grow "scientific forests" to track and harvest timber. Underbrush was cleared, and tree species reduced. The first planting did well because of nutrients that were still left in the soil. But the clearing of underbrush reduced insect, mammal, and bird populations essential to soil building. Pests had few enemies left and infected the entire forest, resulting in massive forest death across the country.
116
409 reads
Managing the overconfidence bias
- Embrace meta-rationality. Know the limits of your own understanding, know when to consult experts, which experts to defer to, and when to admit that something is impossible for anyone to know.
- Allow for uncertainty. Confident statements seem more promising but are open to hidden risks.
- Seek fingerspitzengefühl, roughly translated as intuitive knowledge. We all have some areas where we have a deep knowledge. We have to learn not to overestimate our own knowledge. To avoid overconfidence bias, learn more about your field of expertise.
- Build in a margin of safety. When an engineer designs a bridge that can support up to 100 cars at a time, they plan to hold a multiple of that amount, 200 or 300, as a margin of safety.
139
475 reads
CURATED BY
More like this
Explore the World’s
Best Ideas
200,000+ ideas on pretty much any topic. Created by the smartest people around & well-organized so you can explore at will.
An Idea for Everything
Explore the biggest library of insights. And we've infused it with powerful filtering tools so you can easily find what you need.
Knowledge Library
Powerful Saving & Organizational Tools
Save ideas for later reading, for personalized stashes, or for remembering it later.
Start
31 ideas
Start
44 ideas
# Personal Growth
Take Your Ideas
Anywhere
Organize your ideas & listen on the go. And with Pro, there are no limits.
Listen on the go
Just press play and we take care of the words.
Never worry about spotty connections
No Internet access? No problem. Within the mobile app, all your ideas are available, even when offline.
Get Organized with Stashes
Ideas for your next work project? Quotes that inspire you? Put them in the right place so you never lose them.
Start
47 ideas
Start
75 ideas
My Stashes
Join
2 Million Stashers
4.8
5,740 Reviews
App Store
4.7
72,690 Reviews
Google Play
Shankul Varada
Best app ever! You heard it right. This app has helped me get back on my quest to get things done while equipping myself with knowledge everyday.
“
samz905
Don’t look further if you love learning new things. A refreshing concept that provides quick ideas for busy thought leaders.
“
Sean Green
Great interesting short snippets of informative articles. Highly recommended to anyone who loves information and lacks patience.
“
Ashley Anthony
This app is LOADED with RELEVANT, HELPFUL, AND EDUCATIONAL material. It is creatively intellectual, yet minimal enough to not overstimulate and create a learning block. I am exceptionally impressed with this app!
“
Ghazala Begum
Even five minutes a day will improve your thinking. I've come across new ideas and learnt to improve existing ways to become more motivated, confident and happier.
“
Giovanna Scalzone
Brilliant. It feels fresh and encouraging. So many interesting pieces of information that are just enough to absorb and apply. So happy I found this.
“
Laetitia Berton
I have only been using it for a few days now, but I have found answers to questions I had never consciously formulated, or to problems I face everyday at work or at home. I wish I had found this earlier, highly recommended!
“
Jamyson Haug
Great for quick bits of information and interesting ideas around whatever topics you are interested in. Visually, it looks great as well.
“
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving & library
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Personalized recommendations
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates