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Problem Solving

94 STASHED IDEAS

  • There used to be no need for brain death criteria, because we did not have the technological power to even ask the question of whether someone were dead when their brain lost functioning. But with the development of artificial means of maintaining circulation and respiration this became a serious question. 
  • With communications technologies like social media we are still figuring out how to behave when we have access to so many people and so much information; and the recent problems with fake news reflect how quickly things can go wrong on social media if bad actors have access to the public. 
  • With nuclear weapons, we never used to need to ask the question of how we should avoid a civilization-destroying nuclear war because it simply wasn’t possible, but once those weapons were invented, then we did need to ask that question, and answer it, because we were – and still are – at risk for global disaster.
Caleb E. (@caleb_e) - Profile Photo

@caleb_e

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Problem Solving

We all fall prey to unforeseen risks, and are blind to them due to three reasons:

  1. The rewards(and potential rewards) obscures one's risk, as demonstrated by gamblers and stock market investors. One remedy is to ask yourself what these rewards are preventing you from seeing.
  2. Loss aversion coupled with our existing sunk costs pushes us towards taking further risk even when it is resulting in losses. One needs to analyse sunk costs on a regular basis.
  3. Future aversion, where we make decisions on the(unpredictable) future using present data. The way to address this is to act without data, understanding how the business landscape changes. It also helps to reframe ‘punishment’ for any misstep as an important learning.

3 Reasons You Underestimate Risk

hbr.org

Everyone is trying to work faster all the time, and they pressure everyone around them to work faster too. Examples include:

  • Loading on extra work.
  • Railing against any apparent waste of time.
  • Expecting superb performance all the time.

However, speeding up often results in poor decisions that create future problems. We can't force ourselves to make faster decisions just because we're faced with an unrealistic deadline.

Your Thinking Rate Is Fixed

fs.blog

Start becoming aware of things that actually matter by listening to your friends, family, spouse, readers, and yourself.

See yourself as a researcher who is studying your particular subject. The better you observe the details of daily life, the better you can explain them.

To Become A Better Writer, Become A Listener - Darius Foroux

dariusforoux.com

Not all of our explorations will lead to something better or be satisfying, but with enough exploration behind us, many of them will.

Failures provide us with useful information that will enable us to make better explore or exploit decisions.

Explore Or Exploit? How To Choose New Opportunities

fs.blog

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