Maintain a margin of safety—even when it’s going well. Rich people go bankrupt chasing even more wealth. Fit people get injured chasing personal records. Productive people become ineffective taking on too many projects. Don’t let your ambition ruin your position.
— James Clear https://twitter.com/JamesClear/status/1368916549470461958?s=20
Complement with my post on Margin https://janusworx.com/blog/on-margin/
#Quote #mjbQuote #mjbMentalModels #Margin #mjbMargin #Life #mjbSyntopica .
The No Asshole Rule:
If you can tell someone is an asshole, they shouldn’t be in your life.
Don’t hang with them. Don’t invest with them. Don’t text them. Don’t partner with them. Don’t work with them. Don’t date them.
Remove the bad and you’ll have more good.
—
#mjbMentalModels #MentalModels #Life #BeKindRewind #Quote #mjbQuote #mjbViaNegativa #ViaNegativa .
5 Invariant Principles for dealing with others:
— Shane Parrish https://twitter.com/ShaneAParrish/status/1364240021591650304?s=20
1 - Contrast matters For example: Being slightly kinder than average is rewarded, while being slightly less kind than average is punished asymmetrically.
2 - Don’t keep score For example: If you’re keeping score in any relationship, it’s already over.
3 - Take the high road For example: Have patience for all but malicious acts. Be humble. Don’t make excuses. Don’t speak for others or talk about them behind their back.
4 - Win/Win is the way For example: The key to making life easier the older you get is a history of relationships where everyone wins. Trust can’t happen without time. Time can’t happen if someone is losing.
5 - Go First; Go Positive
For example: One of the most powerful behavioral algorithms we’re hard-wired with is tit-for-tat. You can easily make this work for you by going positive and going first.
Consistently combine these and you can’t help but “win” at life.
#mjbMentalModels #MentalModels #BeKindRewind #Life #mjbQuote .
via Farnam Street
The Psychology of Human Misjudgment is the magnum opus on why we behave the way we do.
This is the fully updated and revised talk and the only place on the internet to find it. Published with the written permission of Charlie Munger and Peter Kaufman.
5 big reasons we fail to make effective decisions — Shane Parrish on Twitter https://twitter.com/ShaneAParrish/status/1356658536751779844?s=20
I’ve taught thousands of people make smart decisions without getting lucky. Here is a thread on 5 of the biggest reasons we fail to make effective decisions.
1 - We’re unintentionally stupid We like to think that we can rationally compute information like a computer, but we can’t. Cognitive biases explain why we made a bad decision but rarely help us avoiding them. Better to focus on these warning signs something is about to go wrong.
Warning signs you’re about to do unintentionally something stupid: You’re tired. You’re emotional, in a rush, distracted, operating in a group, or working with an authority figure.
The rule: Never make important decisions when you’re tired, emotional, distracted, or in a rush.
2 - We solve the wrong problem. The first person to state the problem rarely has the best insight into the problem. Once a problem is thrown out on the table however, our type-a problem solving nature kicks in and forget to ask if we’re solving the right problem.
Warning signs you’re solving the wrong problem: You let someone else define the problem for you. You’re far away from the problem. You’re thinking about the problem at only one level or through narrow lenses.
The rule: Never let anyone define the problem for you.
3 - We use incorrect or insufficient information We like to believe that people tell us the truth. We like to believe the people we talk to understand what they are talking about. We like to believe that we have all the information.
Warning signs you have incorrect or insufficient information: You’re speaking to someone who spoke to someone who spoke to someone. Someone will get in trouble when the truth comes out. You’re reading about it in the news.
The rule: Seek out information from as close to the source as possible because they’ve earned the knowledge and have understanding you don’t. When information is filtered, and it often is, consider the (1) incentives and (2) proximity to earned knowledge.
4 - We fail to learn You know the person that sits beside you at work that has 20 years of experience but keeps making the same mistakes over and over. They don’t have 20 years of experience, but one year repeated 20 times. If you can’t learn you can’t get better.
How we learn:
The Learning Loop
To better understand learning, let’s break it into four components.
The rule: Be less busy. Keep a learning journal. Reflect every day.
5 - We seek optics over outcomes. Our evolutionary programming conditions us to do what’s easy over what’s right. Organizations encourage us to sound good over being good. After all it’s often easier to signal being virtuous than actually being virtuous.
Warning signs you’re focused on optics: You’re thinking about how you’ll defend your decision. You’re knowingly choosing what’s defendable over what’s right. You’d make a different decision if you owned the company. You catch yourself saying this is what your boss would want.
#mjbQuote #Quote #mjbMentalModels #MentalModels #Life #DecisionMaking .
On Delegation & Leading:
Strong leaders instill autonomy by teaching and supervising processes with the intention of eventually not needing to oversee them. Captaincy is a way of being. It is embodied in the role of captain, but it is available to everyone. For a crew to develop it, the captain needs to step back a little and encourage them to take responsibility for outcomes. They can test themselves bit by bit, building up confidence. When people feel like it’s their responsibility to contribute to overall success, not just perform specific tasks, they can respond to the unexpected without waiting for instructions. They become ever more familiar with what their organization needs to stay healthy and use second-order thinking so potential problems are more noticeable before they happen.
Being a good leader isn’t about making sure your team doesn’t experience failure. Rather, it’s giving everyone the space and support to create success.
via https://fs.blog/2021/02/inner-sense-of-captaincy/
#quote #mjbquote #leadership #mjbleadership #delegation #mjbdelegation #management #mjbmanagement #mentalmodels #mjbmentalmodels
Too often we reward people who solve problems while ignoring those who prevent them in the first place. This incentivizes creating problems. According to poet David Whyte, the key to taking initiative and being proactive is viewing yourself as the captain of your own “voyage of work.”
That is why the best-case outcomes are statistical outliers—they are only one possibility in a sea of many. They might come to pass, but you’re much better off preparing for the likelihood that they won’t.
There’s nothing wrong with hoping for the best. But the best-case scenario is rarely the one that comes to pass. Being realistic about what is likely to happen lets you better prepare for a spectrum of possible outcomes and gives you peace of mind.
If you are looking for a long…ish read this weekend, read what I learnt from Antifragile.
https://janusworx.com/categories/antifragile/
#Reading #mjbreading #mjbmentalmodels #antifragile
A few things I wish I’d been told when I was starting… ⬇︎⬇︎⬇︎
— Ryan Holiday https://twitter.com/RyanHoliday/status/1353753542155145217
Success is largely the standards you set for yourself. The people you hang around. The information you consume. The habits you choose. The food you eat.
Most of our standards are inherited by chance nurture: our parents and our environment. Exceptional people have exceptional standards. If you’re lucky, at a young age you work closely with a true master.
If you can’t learn exceptional standards firsthand, there is another path: Rewire your brain.
Adopt the best standards.
Learn from:
Your inherited standards will make you a living, your chosen ones will make you a fortune.
— Shane Parrish https://twitter.com/ShaneAParrish/status/1346503254776172546
jason
