Learn more about business with this collection
Essential product management skills
How to work effectively with cross-functional teams
How to identify and prioritize customer needs
Mental accounting is correct
Betting harder with money you won and being more conservative with your own money makes sense because that’s how you survive.
Thaler and other behavioral economists don’t get it because they see the world as a one-shot game instead of a series of repeated trades.
30
319 reads
MORE IDEAS ON THIS
Minority Rule Is Destroying The West
In societies, minorities can come to dictate the rules to the majority.
This usually happens because of asymmetry or because when the majority is either too flexible, too accommodating, or too indifferent.
A case of asymmetry is between smokers and non-smokers.
A smoker can sit in ...
35
289 reads
Complex Systems Don’t Work With Simple Cause/Effect
And when in doubt, it’s better not to mess with these systems. Starting a war to implement democracies is an example of messing with a complex system.
Clueless politicians compare a local dictator not with the local alternatives but with a Norwegian prime minister.
These people keep s...
36
479 reads
It is the most intolerant person who imposes virtues on others precisely because of that intolerance.
We need to be more than intolerant with some intolerant minorities. The West is currently in the process of committing suicide.
NASSIM TALEB
35
299 reads
Overestimating tail risks makes sense
It’s perfectly rational to overestimate some tail risks because you can’t consider them in isolation.
Driving after 2 glasses of wine once will not be extremely dangerous, but doing so every day is.
When you measure tail risks in the laboratory you only consider one tail risks at a t...
30
331 reads
It’s intellectual Who Are Jealous of The Super Rich
it’s not the poor who are actually envious of the rich and it’s not the poor who first embrace communist movements.
It’s usually the bourgeois and the intellectuals and the clerical class who first embrace communism. It’s because of jealousy.
35
257 reads
Employees Are Broken, Submissive Fellas
Employees display submission by going through years of personal deprivation.
Givin' up 9 hours of one’s time for years, every day is the equivalent of domestication.
And showing up on time every day is the sign of an obedient, housebroken dog.
The question is whether you want to be a ...
37
250 reads
The Idiocy of Naive Empiricism
You often hear people saying that you are more likely to die by X silly thing -ie.: coconut falling- than by terrorist attacks or Ebola outbreaks but that makes no sense.
People dying because of falling coconuts or people who die by drowning in their bathtub will never double from one year ...
31
246 reads
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Avoid taking financial cues from people playing a different game than you are.
Few things matter more with money than understanding your own time horizon and not being persuaded by the actions & behaviors of people playing different games than you are. Go out of your way to...
The 3 Reasons Why Category Design Is an Important Strategy
- When you start a category of your own, you're basically designing your own space. You're not just another game player, you're the innovator of that space. You define it and set the rules of the game. This tactic enables you to attract the perfect audience and get to know your customers befo...
"Why refuse to specify [the outcome]? Because while you are failing to define success, you are also refusing to define failure, to yourself, so that if and when you fail you won’t notice, and it won’t hurt. But that won’t work! You cannot be fooled so easily. You will instead carry with you a ...
JORDAN PETERSON
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