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5-Hour Rule: If you're not spending 5 hours per week learning, you're being irresponsible
Automatization Problem
The irony is that the problem isn’t a lack of jobs. Rather, it’s a lack of people with the right skills and knowledge to fill the jobs.
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Key Ideas
The 5-Hour Rule
The most successful, busy people in the world dedicate at least 5 hours a week to deliberate learning.
The 5-Hour Rule is the most critical practice we can all adopt for long-term career suc...
The Simple Math
It takes about 6,400 hours of class time and studying to get a 4-year degree. Assume that it takes you only 5,000 hours to master your field.
While you are happy that you've prepared for your profession, the knowledge you've learned is fast becoming outdated. We can safely assume that in 10 years, 50% of the facts in the field would be outdated. This means that for you, just to keep up in your current field, you'd need to learn 5 hours per week, 50 weeks a year.
Trends To Consider
When we consider the future of work, there are two trends we should keep a note of. They are:
- Half-life of knowledge
- Law of increasing learning
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Key Ideas
The modern polymath
... is someone who becomes competent in at least 3 diverse domains and integrates them into a top 1-percent skill set.
In another words, they bring the best of what humanity has discov...
Creating an atypical combination of 2+ skills
Even if you're merely competent in these skills, combining them can lead to a world-class skill set.
Example: Scott Adams, the creator of Dilbert, one of the most popular comic strips of all time, was not the funniest person, not the best cartoonist, and not the most experienced employee. But by combining his humor and illustration skills while focusing on business culture, he became the best in the world in his niche.
Creative breakthroughs
Most creative breakthroughs come via making atypical combinations of skills.
Researcher Brian Uzzi, a professor at the Northwestern University Kellogg School of Management, analyzed more than 26 million scientific papers going back hundreds of years and found that the most impactful papers often have teams with atypical combinations of backgrounds.
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Key Ideas
Using Decision Trees
- Understand the different outcomes that could happen (both positive and negative)
- Calculate the expected return or loss of each outcome
- Attach a probability to each outcome ...
Use Decision Trees
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.
Build Deep, Long-Term Relationships
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).