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Elon Musk uses decision trees to make big decisions (a tool that uses a tree-like graph or model of decisions and their possible consequences, outcomes, and resources). They are particularly useful for avoiding stupid risks and big bets that aren’t likely to succeed.
Most became a billionaire by making unlikely big bets, as their expected return statistically was much higher than safer bets.
One of the best ways to get information is not from just being better at searching Google, it’s from learning how to build a network and get the information you need through that network.
This network should include people’s lessons learned and hacks, topics that are too sensitive to talk about because they make someone look bad, and tacit knowledge (knowledge that people have but aren’t able to articulate).
Pointing out others’ mistakes rarely encourages them to change their behavior, and it certainly doesn’t help them learn anything. People aren’t driven by reason, but by emotion; so a public critique is far likelier to reflect poorly on you than it is to make them change their ways.
Abraham Lincoln was nearly forced into a duel for criticizing an opponent. His new policy became one of understanding what drove his opponents, accepting their shortcomings and going easy on the open criticism, eventually even turning some into friends.
Nelson Mandela was lauded as a courageous leader -- even when he was truly terrified. Like the time he astonished his bodyguard by calmly reading a newspaper while the plane he was flying on had engine failure.
Mandela himself, however, later confessed in private that he’d been truly terrified but refused to show it. Mandela knew that courage is a choice, and everyone can be courageous by learning to cope with your anxieties and fears every day.
Niccolò Machiavelli held that using advisors well begins with knowing one’s own weaknesses and selecting advisors to offset them. It’s also necessary to know how to solicit advice the right way.
For Machiavelli, that meant showing advisors he valued their honest opinion and would not punish them for giving it. But, at the end of the day, he was the one calling the shots.