How To Make Decisions
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transcript
Everyone, Sam Evans here, and in today’s video, I’m going to show you how to make a decision and how to choose the right path in life.
We’ll discuss how to get what you want, how to arrive at the place you want to go, and basically, how to have a better life.
If you think about it, where we are in life right now is nobody’s doing but our own. Essentially, your life at this moment is the sum total of your choices.
Every single individual choice you made at every moment of every day got you to where you are now. So, our life is just the sum total of our choices. How does one make a choice?
Through a decision. In this video, I’m going to show you how to make good decisions. Alright, so let’s get to it.
I have basically broken this down into three parts: Part one is called ‘Reduce Load’, part two is called ‘Think Critically’, and part three is called ‘Apply Mental Models’.
There are three parts, and there’s a total of 22 things that we’re going to cover. We’re going to go through them really quickly and get it done to help you make some good decisions.
So, let’s start with part one, which is ‘Reduce Load’. P1, whoops, we’ve already made a better decision—P1: Reduce Load.
Alright, so the first part of making good decisions is to reduce the amount of them that you have to make.
Decisions require energy, and energy is finite. We only have so much of it, and we can’t really hack it or generate more of it.
Energy is a very scarce resource, so the first step we want to do is just reduce the load.
Most people spend all of their energy making Decisions that are useless, and then, when it comes to the critical decisions in their life,
they have no energy left to actually think about things properly, so they make really poor decisions because they’ve burnt all their energy thinking about what socks to wear,
what sandwich to eat for lunch, or whether they said something dumb on the weekend. So, how do we reduce the load? Well, I’ve got five simple things.
The first one is to just make fewer decisions. This is due to something called decision fatigue.
Decision fatigue is basically when you just don’t have any more cognitive energy left to decide what to do, so you either do nothing or you just default to something
because you can’t be bothered anymore. Now, decision fatigue is real, and what most people don’t understand is that we use energy,
and we accumulate decision fatigue on the most mundane of things, like ‘What should I wear this morning?’, ‘What should I eat for lunch?’, ‘What should I eat for breakfast?’,
‘Where are my keys?’—all of this stuff, right? So, one of the best ways to reduce the load is just to make fewer decisions. And to do that, you just do less stuff.
And the best way to do less stuff is to just do less stuff. Most people try to do more stuff; they’re like, ‘I’ll do that, I’ll do that,’ and they’re constantly looking for more things.
They’re like, ‘What else can I do? What else can I read? Who else can I talk to? How many more times can I go out?’
How many more social media channels are there? How many more shows can I watch on Netflix? What if I go on to HBO as well as Netflix, and then go on to more shows? And what other sport can I get into so I can watch more sports games, right? They actively go out recruiting, seeking, and hunting for more stuff. But if you want to reduce the load, you have to do less stuff, and what that means is sacrifice. So, put in here sacrifice now. Sacrifice is dangerous; it’s probably one of the most powerful things there is, and really successful people really know how to sacrifice. I think a lot of this comes from playing chess or knowing how to play chess. I played chess when I was younger, and it really teaches you how to use sacrifice quite well. It’s not about losing a piece; it’s about winning the game. So, you learn to sacrifice pawns and knights, you learn to sacrifice all sorts of pieces to win the game. And the means, I mean the end justifies the means a lot of the time. So, this kind of way of thinking and this way of sacrificing the small picture for the big picture is a really powerful thing to do. Most people are terrible at sacrifice, and you know you’re good at sacrifice when you actually say no more than you say yes. So, if someone asks you if you want to do something, you just say no, and you just say no more than yes. If you’re a yes-person and you say yes most of the time, and you’re actively looking for offers, and you need to say yes, then you suck at sacrifice, right?
However, you aren’t really a master of sacrifice until you truly say no and get rid of things that, with every single part of you, you want. It’s not sacrifice when you don’t really want to do the thing, and you just say, ‘Oh, I sacrificed that.’ That isn’t sacrifice. Sacrifice is when you truly really want something, and you enjoy it, and you thoroughly want it badly, and you say no, you don’t do it. So for a lot of people who like partying or going out, it might be like partying, just sacrificing that. That’s big, right? So, do this stuff. Being the third one is to make one decision that, what about God here, removes future decisions. Now, this is a powerful one. Most people, they wake up in the morning, and they’re like, ‘Oh, what am I going to wear today?’ So they walk over to their wardrobe, and they just stand there and look at it, and they’re like, ‘Well, I could wear that, or I could wear that. What socks am I going to wear? Oh, what have we got up here?’ They just go through a bunch of mindless crap, and then, you know, they’ve burned a ton of cognitive computations on some trivial crap, right? So what you want to do is just make one decision. So I just wear the same clothes every day. Now, I don’t wear the exact same shirt and the exact same socks and underwear and everything every day because that would be pretty unhygienic; it would smell pretty bad, and so plus, my wife would not be very happy. I might not have a wife. So what I do instead is I just get the exact same t-shirt, so I just have like six or seven of these in different colors, right?
But they’re the exact same damn shirt, same size, same brand, same everything; they’re just in some different colors, and so When I wake up in the morning, and I’m like, ‘What am I going to wear?’ Well, it just depends on which one I grab, right?
Then I don’t have to think about it. And then, same with my shorts, I have four pairs of the same shorts. And then socks, I basically have like ten of the same socks. Same with underwear; they’re all the same, and I only have one pair of shoes. Well, actually, I got two: one, a running shoe, and the other ones are just like normal shoes that I wear every day. So, I don’t really have to think about any of that stuff. And then, I just have two hats because my hair’s long at the moment, and one hat’s typically in the wash. So, whatever hat isn’t in the wash, it’s what I put on. That’s it. I just, so what I did instead of deciding what I’m going to wear every day, I make one decision, one time, that solves all decisions in the future. Right? So, you can wear the same clothes every day, and if you think that’s gross, well, have multiple of the same thing. And if you think that’s boring, have them in different colors. But if that’s still too boring for you, right, and you’re someone, some fashionista or some crap, then what you want to do is just have a different outfit for a different day. Right? So at least you can plan this thing one time and get it done with. Right, done! Now, every time you go to make that decision, it’s just the same, and you’re no longer deciding, you’re just recurring the same thing that you did at one point in time. Right? This is huge.
It makes a ton of difference. Another one that humans suck at is food. You know, we need to eat food all the damn time, and it’s never going to change for the rest of your life. You have to eat like three meals a day, right? Most people think, ‘What am I going to eat? Where am I going to get it from? When should I get it?’ All of these things, and it’s just a total waste of time. So again, make one decision that removes all future decisions. So, I just get this thing called Thistle, thistle.co, and it’s a meal delivery. It’s really healthy, healthier than I could make, and healthier than I could get if I went out, right? And it has variety. They change things around every week, and it comes every day. It’s our lunch and dinner for six days a week, right? And it changes around, so I have lunch at the same time every day, 12 o’clock. I have dinner at the same time every day, about seven o’clock, and I just know what I’m going to eat. Done. So, most people would probably, on their food and what they’re going to wear, they would have already burnt like probably 20% of their day’s cognitive energy, right? It’s just stupid. Make one decision that removes such decisions. Then, the fourth one: Have a simple personal life. Now, this is big, right? So, you’ve got to choose which side you want complexity on, right? You can’t have complexity on both sides. And what I mean by this is personal life, and then like your thing, right? And your thing might be sports, it might be art, it might be photography, it might be music, or it might be business. Right, for me, it’s business and building things, and so…
There’s a lot of complexity on this side. I’m always in the middle of a lot of very complex, difficult, time-consuming, and all energy-consuming things, right? That require every ounce of me to even understand what’s going on, and so I can’t have complexity in my personal life as well. It just would not work, right? I meet my limits a lot of the time just with this going on here, keeping things nice and simple in my personal life. So if all of a sudden I have a bunch of complexity over here in my personal life, I’m screwed. Everything’s going to go to hell. So, how do you have a simple personal life? Well, I see so many business people and entrepreneurs just get burned, basically the same way a lot of professional athletes get burned. What they do is they start making some money, and then their lifestyle just creeps and grows into this massive, hungry beast that then consumes them, all right? So, what a lot of professional athletes do is when they start making money, they start buying cars, and mansions, and beach houses, and throwing parties, and doing a whole bunch of stupid stuff. Then, basically behaving like it’s always going to be really good like this, and then all of a sudden, it’s not, and then they’re screwed because they need so much time, energy, and money to feed this thing, right? And it just ruins them. This is really stupid. I see a lot of entrepreneurs do this too. And what you’ve got to be very careful with is you can’t let the byproducts of your thing distract you from your thing, right? So if your thing is like basketball, and…
You start making money from basketball, you don’t then start buying lots of things and going to lots of parties, and start thinking you’re really cool and doing all of these interviews and crap because what happens is then that distracts you from being the best basketball player you can be, and that is the reason why all of these things are happening. So if you get distracted by this, it takes your energy and attention away from this, and then this disappears, and this disappears, and you’ve got nothing, right? So, it’s totally stupid, and it happens to everyone. I see it; it’s just this disease that gets everybody. And the key to it is to have a simple personal life. Like, as your income expands, don’t increase your lifestyle. Like in the beginning, yes, sure, increase your lifestyle because, you know, like me, I was living in my parent’s garage, and I basically, of course, if I start to make some money, I’m probably going to get myself a place that isn’t my parents’ garage, right? Like by all means, do that. And if you’re absolutely broke and eating ramen noodles every day, then by all means, start eating some proper food, but at a certain point, you don’t really need to go further than that, right? And I did this early on in my career. As soon as I started making lots of money, I started buying lots of—I bought like tires, I’ve had a boat, and all of this crap, and all of a sudden, it just, I realized that most of my time and energy and mental capacity was spent worrying about this crap that I owned and not focusing on my business, which was actually the vehicle that produced the resources to even be able to do this stuff. So, we don’t realize that I got rid of it all, and then I just tried to make my life more simple and just more like plain, right? So no fancy clothes, no fancy cars, no fancy houses or mansions, or any of that stuff, right? Like I can…
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<text start="933.589" dur="5.79">live on about 20,000 bucks a month right</text>
<text start="937.79" dur="5.25">and a lot of you might think well that's</text>
<text start="939.379" dur="7.411">a ton of money and yet is and it's like</text>
<text start="943.04" dur="5.82">I'm not saying I live like poor or I'm</text>
<text start="946.79" dur="4.709">really like I'm living like a monk or</text>
<text start="948.86" dur="4.44">anything like that but compared to what</text>
<text start="951.499" dur="4.471">a lot of entrepreneurs spend on them on</text>
<text start="953.3" dur="6.42">their personal lives that's very small</text>
<text start="955.97" dur="7.469">right so I take a lot of pride in trying</text>
<text start="959.72" dur="5.849">to spend less personally the more money</text>
<text start="963.439" dur="3.21">my company makes right it's like a</text>
<text start="965.569" dur="3.3">little game to me</text>
<text start="966.649" dur="6.05">and I actually get satisfaction from</text>
<text start="968.869" dur="7.111">trying to make it more simple and more</text>
<text start="972.699" dur="6.07">frugal and more cheap right that's</text>
<text start="975.98" dur="4.469">actually enjoyable for me instead of</text>
<text start="978.769" dur="4.201">trying to make it bigger and bigger and</text>
<text start="980.449" dur="4.531">bigger because when you take that load</text>
<text start="982.97" dur="4.529">off you personally and when you simplify</text>
<text start="984.98" dur="5.339">all of this then you've got a lot more</text>
<text start="987.499" dur="4.95">mental space and mental capacity and you</text>
<text start="990.319" dur="4.11">don't have as much worry and then you</text>
<text start="992.449" dur="4.68">can take bigger risks with your company</text>
<text start="994.429" dur="5.7">you can like because you don't need to</text>
<text start="997.129" dur="5.82">keep paying these really consuming</text>
<text start="1000.129" dur="5.19">lifestyle costs every single month right</text>
<text start="1002.949" dur="3.48">and this is a big one a lot of</text>
<text start="1005.319" dur="3.63">billionaires do this a lot of</text>
<text start="1006.429" dur="6">billionaires drive Priuses and live in</text>
<text start="1008.949" dur="5.88">like houses that costs that they once</text>
<text start="1012.429" dur="4.741">bought for like 50 grand or that cost</text>
<text start="1014.829" dur="4.17">under a million bucks right a lot of</text>
<text start="1017.17" dur="6.44">billionaires live cheap and a lot of</text>
<text start="1018.999" dur="9.001">sales reps and real estate agents and</text>
<text start="1023.61" dur="6.95">people like borderline bankrupt have</text>
<text start="1028" dur="6.04">really fancy frivolous</text>
<text start="1030.56" dur="4.98">personal lives right so that's a big one</text>
<text start="1034.04" dur="5.82">what else have we got</text>
<text start="1035.54" dur="6.66">oh there's another key piece to this one</text>
<text start="1039.86" dur="8.82">which is pretty big and I'll put it down</text>
<text start="1042.2" dur="12.06">here we'll call this like 4.1 or just</text>
<text start="1048.68" dur="14.61">call it yet 4.2 and it is a low</text>
<text start="1054.26" dur="12.81">maintenance partner now that might be</text>
<text start="1063.29" dur="6.78">boyfriend girlfriend wife husband</text>
<text start="1067.07" dur="7.14">whatever right now you want to have a</text>
<text start="1070.07" dur="5.61">low maintenance partner and this is I</text>
<text start="1074.21" dur="3.42">don't think it's possible to be an</text>
<text start="1075.68" dur="3.99">entrepreneur at least a successful one</text>
<text start="1077.63" dur="5.1">if you have a high maintenance partner</text>
<text start="1079.67" dur="6.57">you're screwed you're done because</text>
<text start="1082.73" dur="5.25">business is so like to be really good at</text>
<text start="1086.24" dur="4.68">what you do it's complicated and it's</text>
<text start="1087.98" dur="4.65">demanding and you can't do that you</text>
<text start="1090.92" dur="4.05">can't figure your figure your way out</text>
<text start="1092.63" dur="5.58">through this maze of chaos and</text>
<text start="1094.97" dur="6.18">uncertainty when and you can't push the</text>
<text start="1098.21" dur="4.83">frontier of this thing if you've got</text>
<text start="1101.15" dur="6.06">someone that's bugging you and demanding</text>
<text start="1103.04" dur="6.24">you all the time right now this is so</text>
<text start="1107.21" dur="3.75">key and you probably know immediately</text>
<text start="1109.28" dur="3.54">with you ever low maintenance partner or</text>
<text start="1110.96" dur="3.06">not now if you don't have a low</text>
<text start="1112.82" dur="3.63">maintenance partner if you have a high</text>
<text start="1114.02" dur="5.34">maintenance partner I want to be clear</text>
<text start="1116.45" dur="5.85">I'm not saying leave them but you do</text>
<text start="1119.36" dur="5.28">need to intervene you too need to sort</text>
<text start="1122.3" dur="4.62">this thing out because your your chances</text>
<text start="1124.64" dur="5.73">of success and are screwed unless you</text>
<text start="1126.92" dur="5.16">fix this one up right like people like</text>
<text start="1130.37" dur="4.02">people need to understand that loved</text>
<text start="1132.08" dur="4.17">isn't ownership right and</text>
<text start="1134.39" dur="4.17">high-maintenance people think that it's</text>
<text start="1136.25" dur="3.54">ownership they think that like because</text>
<text start="1138.56" dur="3.63">they're with you they own you and if</text>
<text start="1139.79" dur="6.03">you're doing something else then that is</text>
<text start="1142.19" dur="5.52">like the they're not owning you and then</text>
<text start="1145.82" dur="5.85">they it's it's totally messed up and</text>
<text start="1147.71" dur="5.55">it's psychologically up so you</text>
<text start="1151.67" dur="3.12">need to sort this thing out if someone</text>
<text start="1153.26" dur="3.66">truly does love you and if you truly</text>
<text start="1154.79" dur="5.85">love someone then you would want them to</text>
<text start="1156.92" dur="6.45">do and succeed at their dream right and</text>
<text start="1160.64" dur="3.43">you would want to help that and be a</text>
<text start="1163.37" dur="4.84">part of it</text>
<text start="1164.07" dur="7.079">right so this is very unhealthy and not</text>
<text start="1168.21" dur="5.189">only psychologically not only in your</text>
<text start="1171.149" dur="4.47">relationship but in your life but also</text>
<text start="1173.399" dur="3.181">for your business or whatever it is you</text>
<text start="1175.619" dur="5.67">that you're doing right</text>
<text start="1176.58" dur="12.329">keep it simple now the fifth one is to</text>
<text start="1181.289" dur="7.95">limit surface area now what does that</text>
<text start="1188.909" dur="4.95">mean</text>
<text start="1189.239" dur="7.981">well you want to think of your your life</text>
<text start="1193.859" dur="6.62">as like a canvas right just imagine a</text>
<text start="1197.22" dur="8.73">canvas now the more surface area that</text>
<text start="1200.479" dur="7.81">you cover the more crap that you're</text>
<text start="1205.95" dur="5.549">going to catch right just imagine that</text>
<text start="1208.289" dur="6">life is like just this flying around of</text>
<text start="1211.499" dur="4.8">like paint going everywhere right now</text>
<text start="1214.289" dur="4.2">how do you care how do you get less</text>
<text start="1216.299" dur="5.85">paint on you well you just have a</text>
<text start="1218.489" dur="6.331">smaller surface area right now this is</text>
<text start="1222.149" dur="4.83">how you basically reduce the load you</text>
<text start="1224.82" dur="3.75">have a small simple life and you do live</text>
<text start="1226.979" dur="3.57">stuff and you make you make less</text>
<text start="1228.57" dur="4.739">decisions and you suffer less decision</text>
<text start="1230.549" dur="7.08">fatigue by shrinking the canvas less</text>
<text start="1233.309" dur="5.521">surface area now how do you do that well</text>
<text start="1237.629" dur="4.38">it should be your goal and your</text>
<text start="1238.83" dur="5.789">intention to limit your surface area so</text>
<text start="1242.009" dur="6.9">think about all of the places that you</text>
<text start="1244.619" dur="6.961">go or that you exist that allow things</text>
<text start="1248.909" dur="6.051">to come at you right so if you just</text>
<text start="1251.58" dur="9.409">imagined yourself what I can do is just</text>
<text start="1254.96" dur="9.459">draw a picture of my typical uni six and</text>
<text start="1260.989" dur="4.81">stick figure right so imagine this is</text>
<text start="1264.419" dur="3.75">you now</text>
<text start="1265.799" dur="4.8">you want to think about you on any</text>
<text start="1268.169" dur="4.411">typical day and you want to watch the</text>
<text start="1270.599" dur="3.42">inputs that come to you like what are</text>
<text start="1272.58" dur="3.659">all these things that come to you</text>
<text start="1274.019" dur="4.74">demanding your time your attention your</text>
<text start="1276.239" dur="5.851">energy how do these things get at you</text>
<text start="1278.759" dur="5.4">right there's gonna be things coming now</text>
<text start="1282.09" dur="4.409">there might be notifications they might</text>
<text start="1284.159" dur="5.4">be emails they might be phone calls they</text>
<text start="1286.499" dur="5.731">might be texts they might be whatsapp</text>
<text start="1289.559" dur="4.921">messages oh my god this so much stuff</text>
<text start="1292.23" dur="4.829">these days that allow people to come and</text>
<text start="1294.48" dur="4.86"> with you right and then this</text>
<text start="1297.059" dur="3.631">physical mail that stuff can come at you</text>
<text start="1299.34" dur="3.179">then these people that knock on your</text>
<text start="1300.69" dur="3.03">door then there's people that call your</text>
<text start="1302.519" dur="4.29">home line if you have one of those</text>
<text start="1303.72" dur="5.37">there's so much stuff that comes at you</text>
<text start="1306.809" dur="4.08">every social media channel basically has</text>
<text start="1309.09" dur="3.9">dims and doesn't allow you to turn the</text>
<text start="1310.889" dur="3.78"> diems off so that's all coming</text>
<text start="1312.99" dur="3.299">at you notifications is coming at you</text>
<text start="1314.669" dur="3.51">you've got them on your browser you've</text>
<text start="1316.289" dur="3.451">got them on your phone you've got them</text>
<text start="1318.179" dur="2.7">in your inbox you probably have like</text>
<text start="1319.74" dur="2.789">five inboxes</text>
<text start="1320.879" dur="2.67">you've probably got seven bank accounts</text>
<text start="1322.529" dur="3.571">that are all sending you notifications</text>
<text start="1323.549" dur="4.2">and you've probably got four PayPal</text>
<text start="1326.1" dur="4.169">accounts you've probably got two venmo</text>
<text start="1327.749" dur="5.221">accounts you've probably got like a P o</text>
<text start="1330.269" dur="4.62">box and your normal home address and</text>
<text start="1332.97" dur="3.299">publish the mail still being sent to</text>
<text start="1334.889" dur="3.181">like your old address that's getting</text>
<text start="1336.269" dur="3.54">forwarded to your new address right this</text>
<text start="1338.07" dur="5.64">is this is what a lot of people probably</text>
<text start="1339.809" dur="5.911">have now that is a lot of surface area</text>
<text start="1343.71" dur="5.159">that's a lot of coming at you and</text>
<text start="1345.72" dur="6">you want to limit that so the best way</text>
<text start="1348.869" dur="4.02">is just to eliminate so you don't need</text>
<text start="1351.72" dur="2.37">that you don't need that you don't need</text>
<text start="1352.889" dur="5.931">that you just keep going through and</text>
<text start="1354.09" dur="7.469">just stripping it right so for example I</text>
<text start="1358.82" dur="5.5">don't tell anyone what my phone number</text>
<text start="1361.559" dur="4.95">is unless I absolutely have to and I</text>
<text start="1364.32" dur="3.689">phone number is nowhere it's not on the</text>
<text start="1366.509" dur="5.61">footer of my emails I don't have</text>
<text start="1368.009" dur="5.88">business cards and I don't like I don't</text>
<text start="1372.119" dur="3.091">tell anyone my phone number so basically</text>
<text start="1373.889" dur="3.691">no one has my phone number other than</text>
<text start="1375.21" dur="4.65">the people that that should have it and</text>
<text start="1377.58" dur="2.969">even still if they call me I don't</text>
<text start="1379.86" dur="2.669">answer my phone</text>
<text start="1380.549" dur="4.411">in fact my phones typically on airplane</text>
<text start="1382.529" dur="3.6">mode and it's in my drawer so even if</text>
<text start="1384.96" dur="2.76">they did call me it would just ring to</text>
<text start="1386.129" dur="4.17">voicemail and then if you call my</text>
<text start="1387.72" dur="4.98">voicemail then it says hi you've reached</text>
<text start="1390.299" dur="4.71">Sam I'm not available right now please</text>
<text start="1392.7" dur="5.339">leave a message saying who you are what</text>
<text start="1395.009" dur="7.11">you're calling about and what you want</text>
<text start="1398.039" dur="5.701">basically right and then if they don't</text>
<text start="1402.119" dur="4.951">leave a message or if they leave a vague</text>
<text start="1403.74" dur="5.009">me so just delete it right and then I</text>
<text start="1407.07" dur="4.14">don't tell anyone my email address</text>
<text start="1408.749" dur="4.62">either right you restrict the stuff</text>
<text start="1411.21" dur="3.719">limit the surface area people who have</text>
<text start="1413.369" dur="3.721">footers at the bottom of their email</text>
<text start="1414.929" dur="4.74">that tell them like every different way</text>
<text start="1417.09" dur="5.37">to get in touch with them including fax</text>
<text start="1419.669" dur="6.39">landline and personal phone and all this</text>
<text start="1422.46" dur="8.37">crap it's crazy right and then I don't</text>
<text start="1426.059" dur="8.671">have whatsapp I don't use Skype I don't</text>
<text start="1430.83" dur="5.76">use diems on any channel right like go</text>
<text start="1434.73" dur="5.22">ahead and send me a DM somewhere and</text>
<text start="1436.59" dur="5.55">watch what happens right I don't do any</text>
<text start="1439.95" dur="5.099">of this in fact really the only channel</text>
<text start="1442.14" dur="4.289">we have at my company is slack so if</text>
<text start="1445.049" dur="4.291">someone wants to contact you they use</text>
<text start="1446.429" dur="4.35">slack so my wife has a slack account so</text>
<text start="1449.34" dur="3.36">she can message me on sec so did my</text>
<text start="1450.779" dur="6.15">parents my family they still use slack</text>
<text start="1452.7" dur="5.88">too because it's not healthy to have so</text>
<text start="1456.929" dur="4.051">many different channels that people can</text>
<text start="1458.58" dur="4.62">contact you on you want to tell people</text>
<text start="1460.98" dur="3.84">the best one to get you on right that</text>
<text start="1463.2" dur="4.979">way you can actually help them and be</text>
<text start="1464.82" dur="5.849">the most service so my parents no</text>
<text start="1468.179" dur="5.551">message then ones that my sisters know</text>
<text start="1470.669" dur="6.99">my wife knows and so does my team right</text>
<text start="1473.73" dur="6.299">and then that's a way to limit surface</text>
<text start="1477.659" dur="4.02">area right and if someone tries to get</text>
<text start="1480.029" dur="4.351">me to download whatsapp to message them</text>
<text start="1481.679" dur="5.581">I'll be like no not doing that right</text>
<text start="1484.38" dur="5.669">just see me an email or if someone wants</text>
<text start="1487.26" dur="6.09">to message me on like Facebook then I</text>
<text start="1490.049" dur="4.5">just won't reply right and if it is one</text>
<text start="1493.35" dur="4.53">of my friends I'll say look I don't</text>
<text start="1494.549" dur="5.281">check Facebook but see me an email to</text>
<text start="1497.88" dur="5.639">this email address right limit the</text>
<text start="1499.83" dur="6.42">surface area also like if you go out a</text>
<text start="1503.519" dur="4.831">lot like to parties and socializing and</text>
<text start="1506.25" dur="4.47">all others that's expanding the surface</text>
<text start="1508.35" dur="5.52">area you're just laying stretching the</text>
<text start="1510.72" dur="8.61">canvas to catch more stuff right limit</text>
<text start="1513.87" dur="7.95">it now that's part one</text>
<text start="1519.33" dur="4.89">and if you do these things you'll have a</text>
<text start="1521.82" dur="5.699">reduced load and that's at the beginning</text>
<text start="1524.22" dur="5.37">now you've actually got some sanity now</text>
<text start="1527.519" dur="4.681">you've got some energy left over to</text>
<text start="1529.59" dur="5.13">actually do something with right so this</text>
<text start="1532.2" dur="4.469">isn't even really how to make a decision</text>
<text start="1534.72" dur="3.959">this is just making sure that you've got</text>
<text start="1536.669" dur="6.091">the stuff required to actually make a</text>
<text start="1538.679" dur="7.98">decision which is energy and sane in</text>
<text start="1542.76" dur="12.379">mind all right so that's p1 now let's go</text>
<text start="1546.659" dur="13.191">to p2 now p2 also known as part two is</text>
<text start="1555.139" dur="4.711">called think critically</text>
<text start="1562.36" dur="6.91">now thinking critically so you want to</text>
<text start="1567.14" dur="4.65">do your own analysis and you don't want</text>
<text start="1569.27" dur="7.68">to default to what everyone else is</text>
<text start="1571.79" dur="6.96">doing right these most people in the</text>
<text start="1576.95" dur="3.24">world when they need to make a decision</text>
<text start="1578.75" dur="3.33">they just look at what everyone else is</text>
<text start="1580.19" dur="7.02">doing and then they just mimic them</text>
<text start="1582.08" dur="6.47">right it's craziness like if everyone's</text>
<text start="1587.21" dur="4.38">doing it doesn't mean you should do it</text>
<text start="1588.55" dur="4.63">it's actually kind of a warning sign now</text>
<text start="1591.59" dur="4.35">you need to be able to do your own</text>
<text start="1593.18" dur="4.94">analysis and think critically and to do</text>
<text start="1595.94" dur="4.62">this it's very cognitively demanding and</text>
<text start="1598.12" dur="3.85">the reason why most people I think just</text>
<text start="1600.56" dur="3.06">copy other people it's because they</text>
<text start="1601.97" dur="4.5">don't ever need damn energy left so they</text>
<text start="1603.62" dur="4.56">just mimic so this is why this is part</text>
<text start="1606.47" dur="3.75">one to make sure that you've got the</text>
<text start="1608.18" dur="6.63">stuff energy required to think</text>
<text start="1610.22" dur="7.65">critically so the first part or the</text>
<text start="1614.81" dur="14.06">first one of think critically is to do</text>
<text start="1617.87" dur="17.64">your own analysis don't do don't just</text>
<text start="1628.87" dur="8.32">copy crowd right if everyone's doing</text>
<text start="1635.51" dur="4.44">something doesn't mean you should do it</text>
<text start="1637.19" dur="4.86">first and foremost right if you want to</text>
<text start="1639.95" dur="5.37">achieve anything right it's gonna come</text>
<text start="1642.05" dur="5.52">from doing something abnormal right I am</text>
<text start="1645.32" dur="4.11">honestly astonished that people haven't</text>
<text start="1647.57" dur="3.81">figured this one out if you look back</text>
<text start="1649.43" dur="5.25">through history everyone that's ever</text>
<text start="1651.38" dur="7.14">done anything great basically didn't</text>
<text start="1654.68" dur="5.7">copy anyone else but yet everyone's</text>
<text start="1658.52" dur="5.4">still copying everyone else what's</text>
<text start="1660.38" dur="6.57">really funny is that like some people</text>
<text start="1663.92" dur="5.31">try to copy me by copying exactly what I</text>
<text start="1666.95" dur="6.03">do and I'm like man this person doesn't</text>
<text start="1669.23" dur="6.33">get it to actually copy me you would do</text>
<text start="1672.98" dur="5.46">something different because that is what</text>
<text start="1675.56" dur="4.56">I'm trying to do so if I eat my strategy</text>
<text start="1678.44" dur="3.9">is to do something different and do my</text>
<text start="1680.12" dur="4.32">own analysis and not copy other people</text>
<text start="1682.34" dur="3.87">so then if someone comes along and</text>
<text start="1684.44" dur="2.88">copies me and actually thinks they're</text>
<text start="1686.21" dur="3.78">doing what I'm doing</text>
<text start="1687.32" dur="3.9">they're not they've totally missed it</text>
<text start="1689.99" dur="4.439">and the funniest part is they think</text>
<text start="1691.22" dur="5.339">they're actually copying right so do</text>
<text start="1694.429" dur="5.791">your own analysis don't just copy the</text>
<text start="1696.559" dur="6.301">crowd now in the beginning imitation</text>
<text start="1700.22" dur="5.789">like typically imitation comes before</text>
<text start="1702.86" dur="4.23">creativity right or creation so don't</text>
<text start="1706.009" dur="3.87">get me wrong when you're just getting</text>
<text start="1707.09" dur="5.37">started your best bet is to often just</text>
<text start="1709.879" dur="4.74">kind of learn from others and try to</text>
<text start="1712.46" dur="5.579">copy their patterns and try to master</text>
<text start="1714.619" dur="6.241">their ways first before you have the</text>
<text start="1718.039" dur="4.561">ability to go and create because first</text>
<text start="1720.86" dur="4.08">you have to learn the building blocks</text>
<text start="1722.6" dur="5.039">and once you learn the building blocks</text>
<text start="1724.94" dur="5.699">and you learn the common patterns then</text>
<text start="1727.639" dur="6.39">you can start to think of new ways to</text>
<text start="1730.639" dur="5.701">pattern those blocks right and that's</text>
<text start="1734.029" dur="4.65">when you can truly start to make leaps</text>
<text start="1736.34" dur="4.469">and bounds but first imitation often</text>
<text start="1738.679" dur="4.08">comes so starting off by copying</text>
<text start="1740.809" dur="4.141">templates and learning from people this</text>
<text start="1742.759" dur="4.53">is pretty good but if you really want to</text>
<text start="1744.95" dur="5.819">push things and if you really want to</text>
<text start="1747.289" dur="5.791">like find new levels and really push the</text>
<text start="1750.769" dur="4.98">frontier then you need to do your own</text>
<text start="1753.08" dur="5.459">analysis and really you should do your</text>
<text start="1755.749" dur="4.591">own analysis always and sometimes if</text>
<text start="1758.539" dur="4.14">that means just copying the person who</text>
<text start="1760.34" dur="4.409">you think is best to copy at least you</text>
<text start="1762.679" dur="5.61">did your own analysis most people never</text>
<text start="1764.749" dur="6.66">do their own analysis right now another</text>
<text start="1768.289" dur="9.39">one or one example I can give you to</text>
<text start="1771.409" dur="12.541">explain this is my Minimum Viable whedon</text>
<text start="1777.679" dur="10.411">in VW so when I got married and here's a</text>
<text start="1783.95" dur="9.87">photo here mvw stands for Minimum Viable</text>
<text start="1788.09" dur="8.699">wedding so when I proposed to my wife</text>
<text start="1793.82" dur="4.77">and then we were thinking are we gonna</text>
<text start="1796.789" dur="4.441">have a wedding at first my wife was like</text>
<text start="1798.59" dur="3.75">yes we should and I was like okay well</text>
<text start="1801.23" dur="2.909">we should you should get a wedding</text>
<text start="1802.34" dur="3.659">planner because there's gonna be a lot</text>
<text start="1804.139" dur="3.181">of work and so she got one and then she</text>
<text start="1805.999" dur="4.441">realized that she had to talk to the</text>
<text start="1807.32" dur="5.699">wedding planner a lot and it was very</text>
<text start="1810.44" dur="4.559">demanding like the amount of there was</text>
<text start="1813.019" dur="3.961">mostly just the attention and the energy</text>
<text start="1814.999" dur="4.201">that this beast required to actually</text>
<text start="1816.98" dur="4.26">have a have a day where people got some</text>
<text start="1819.2" dur="3.63">alcohol and some food and got to wear</text>
<text start="1821.24" dur="5.96">like some clothes that were a bit</text>
<text start="1822.83" dur="6.38">fancier than normal right so I we we</text>
<text start="1827.2" dur="3.689">that happened she was like I don't</text>
<text start="1829.21" dur="3.75">really know if I want to duel with us</text>
<text start="1830.889" dur="3.691">this is really draining and I was like</text>
<text start="1832.96" dur="3.089">well I definitely don't want to do</text>
<text start="1834.58" dur="3.93">all of that that looks really draining</text>
<text start="1836.049" dur="4.791">so then we thought well should we even</text>
<text start="1838.51" dur="5.31">have a wedding and we decided to</text>
<text start="1840.84" dur="6.52">basically well I did like an analysis I</text>
<text start="1843.82" dur="7.709">did my own critical thinking and the</text>
<text start="1847.36" dur="6.36">process I went through was well why but</text>
<text start="1851.529" dur="5.28">what things are important right asking</text>
<text start="1853.72" dur="5.189">why is a key thing and really we looked</text>
<text start="1856.809" dur="4.141">at all of the components of a wedding so</text>
<text start="1858.909" dur="3.63">we took a wedding which is something and</text>
<text start="1860.95" dur="3.99">then we broke it out until its</text>
<text start="1862.539" dur="4.561">constituent parts like its the different</text>
<text start="1864.94" dur="5.609">parts that come together to form this</text>
<text start="1867.1" dur="4.86">hole that we call wedding and the things</text>
<text start="1870.549" dur="3.72">we basically looked at all of them and</text>
<text start="1871.96" dur="4.439">we were like which ones do we think</text>
<text start="1874.269" dur="5.25">available in which ones do we think of</text>
<text start="1876.399" dur="5.941">waste right now the dress we were like</text>
<text start="1879.519" dur="4.741">okay yeah the dress makes sense and in</text>
<text start="1882.34" dur="3.42">the ring yeah the ring makes sense the</text>
<text start="1884.26" dur="3.509">ring you know you're gonna have all</text>
<text start="1885.76" dur="7.019">you're gonna wear for like a long time</text>
<text start="1887.769" dur="8.841">and then the the the photos right and</text>
<text start="1892.779" dur="7.11">then the location and then we thought</text>
<text start="1896.61" dur="6.52">but what about like all the alcohol all</text>
<text start="1899.889" dur="5.431">the food all the catering all of that</text>
<text start="1903.13" dur="3.509">crap and then what about organizing all</text>
<text start="1905.32" dur="2.79">of those people and trying to get them</text>
<text start="1906.639" dur="3.961">into their place we're like no that's</text>
<text start="1908.11" dur="3.87">not really their important right so we</text>
<text start="1910.6" dur="3.419">really just took these things that we</text>
<text start="1911.98" dur="5.64">thought were important and we got a good</text>
<text start="1914.019" dur="5.701">ring wear a good dress and we went to a</text>
<text start="1917.62" dur="5.76">great location Queenstown in New Zealand</text>
<text start="1919.72" dur="6.75">and I rented a helicopter so that we</text>
<text start="1923.38" dur="4.799">could go like in a helicopter and land</text>
<text start="1926.47" dur="4.23">on top of some different mountains and</text>
<text start="1928.179" dur="4.531">then we got a really good wedding</text>
<text start="1930.7" dur="5.099">photographer to come along with us</text>
<text start="1932.71" dur="5.699">right and we basically just spent the</text>
<text start="1935.799" dur="5.181">day dry fly around landing on mountains</text>
<text start="1938.409" dur="4.711">and getting cool photos like this and</text>
<text start="1940.98" dur="4.75">then we went out to a nice place for</text>
<text start="1943.12" dur="6.45">dinner Edd's some nice wine and that was</text>
<text start="1945.73" dur="5.76">our minimum viable wedding now this is</text>
<text start="1949.57" dur="3.989">not just copying the crowd copying the</text>
<text start="1951.49" dur="3.48">crowd is like gotta get a venue go to</text>
<text start="1953.559" dur="3.631">and buy these people but ever an invite</text>
<text start="1954.97" dur="4.62">got it all of this crap like we didn't</text>
<text start="1957.19" dur="3.69">do any that we thought critically about</text>
<text start="1959.59" dur="4.14">it were like which things may</text>
<text start="1960.88" dur="5.19">since for us which things don't and we</text>
<text start="1963.73" dur="5.58">we did it that way it took way less time</text>
<text start="1966.07" dur="5.04">it was really easy to do and I actually</text>
<text start="1969.31" dur="4.35">think we got more reward from it and</text>
<text start="1971.11" dur="5.37">more pleasure from it then a typical</text>
<text start="1973.66" dur="4.8">wedding right now there might not be the</text>
<text start="1976.48" dur="3.99">same for you you might value other</text>
<text start="1978.46" dur="3.96">things than what I value right there</text>
<text start="1980.47" dur="5.25">isn't one best way for everything it</text>
<text start="1982.42" dur="5.28">depends on you in your situation so this</text>
<text start="1985.72" dur="5.97">is what I'm getting at think critically</text>
<text start="1987.7" dur="6.66">and don't just copy the crowd right and</text>
<text start="1991.69" dur="6.21">I gave my minimum viable wedding as an</text>
<text start="1994.36" dur="6.36">example a third one would be well that's</text>
<text start="1997.9" dur="7.16">actually a an example but I'll put that</text>
<text start="2000.72" dur="4.34">as number two then the third one is</text>
<text start="2008.63" dur="11.59">apply core values or core principles all</text>
<text start="2016.71" dur="7.56">right now having core principles is a</text>
<text start="2020.22" dur="7.38">very helpful thing to have because ahead</text>
<text start="2024.27" dur="5.16">of time you make you make like these</text>
<text start="2027.6" dur="3.6">decisions about how you want to live</text>
<text start="2029.43" dur="4.26">your life and what things you value and</text>
<text start="2031.2" dur="6.03">what things you don't once you do it one</text>
<text start="2033.69" dur="6.24">time and then you just stay with</text>
<text start="2037.23" dur="5.91">integrity from those principles and you</text>
<text start="2039.93" dur="5.79">stay like true to those principles for</text>
<text start="2043.14" dur="4.11">for the rest your life right so taking</text>
<text start="2045.72" dur="4.05">some time to really define your</text>
<text start="2047.25" dur="4.08">principles and the mission that you're</text>
<text start="2049.77" dur="6.47">on in the goal that you want is</text>
<text start="2051.33" dur="8.75">extremely powerful so here is basically</text>
<text start="2056.24" dur="8.71">what hours are at consulting comm right</text>
<text start="2060.08" dur="6.46">so you can see the mission to click to</text>
<text start="2064.95" dur="4.229">the plea educate every human on earth</text>
<text start="2066.54" dur="6.599">and then you can see the principles</text>
<text start="2069.179" dur="5.401">right so what like for example student</text>
<text start="2073.139" dur="3.631">obsessed what's best for the students is</text>
<text start="2074.58" dur="4.29">what's best for everyone all right and</text>
<text start="2076.77" dur="4.379">then high standards great just isn't</text>
<text start="2078.87" dur="4.2">good enough long term thinking lean and</text>
<text start="2081.149" dur="4.74">frugal right constraints breed</text>
<text start="2083.07" dur="4.47">resourcefulness do more with less like</text>
<text start="2085.889" dur="3.211">the scientific reason from first</text>
<text start="2087.54" dur="4.53">principles use data test and iterate</text>
<text start="2089.1" dur="4.559">right question deeper thing ask why and</text>
<text start="2092.07" dur="2.789">hold nothing sacred in the pursuit of</text>
<text start="2093.659" dur="4.44">truth</text>
<text start="2094.859" dur="6.021">so I use these all the time even when it</text>
<text start="2098.099" dur="4.95">comes to my damn wedding I'm basically</text>
<text start="2100.88" dur="5.409">questioning everything and being</text>
<text start="2103.049" dur="5.881">scientific and I don't really care at</text>
<text start="2106.289" dur="5.401">all about being conventional and I would</text>
<text start="2108.93" dur="5.25">always prefer to be on the side of lean</text>
<text start="2111.69" dur="7.319">and frugal rather than like extravagant</text>
<text start="2114.18" dur="7.47">and stupid right so these are very very</text>
<text start="2119.009" dur="6.21">very helpful I highly recommend you take</text>
<text start="2121.65" dur="7.02">the time to write down like five to ten</text>
<text start="2125.219" dur="5.161">principles that you really believe in</text>
<text start="2128.67" dur="4.919">because when it comes to making a</text>
<text start="2130.38" dur="4.199">decision you can do your analysis and</text>
<text start="2133.589" dur="2.581">look at all of your different options</text>
<text start="2134.579" dur="3.72">like we could do this we could do that</text>
<text start="2136.17" dur="3.75">we could do that if we did that we would</text>
<text start="2138.299" dur="2.94">be sacrificing this if we did that it</text>
<text start="2139.92" dur="3.629">would be good for this but bad for that</text>
<text start="2141.239" dur="5.04">and you've got all of these different</text>
<text start="2143.549" dur="5.46">options all of these different possible</text>
<text start="2146.279" dur="5.43">paths and then you're like which one</text>
<text start="2149.009" dur="5.911">should we choose well it's it basically</text>
<text start="2151.709" dur="5.91">comes down to which thing is which core</text>
<text start="2154.92" dur="5.339">pieces are most important and most</text>
<text start="2157.619" dur="4.561">valuable to us or to our company or to</text>
<text start="2160.259" dur="5.04">our relationship or to us as an</text>
<text start="2162.18" dur="5.129">individual right and you're forever</text>
<text start="2165.299" dur="4.861">screwed if you don't actually know</text>
<text start="2167.309" dur="4.47">what's valuable for you because then you</text>
<text start="2170.16" dur="3.659">can never make a decision because</text>
<text start="2171.779" dur="4.651">there's no decisions that are good for</text>
<text start="2173.819" dur="4.621">everyone always permanently forever like</text>
<text start="2176.43" dur="4.379">different people value different things</text>
<text start="2178.44" dur="7.23">and they're trying to achieve different</text>
<text start="2180.809" dur="6.54">things right so this is a huge hack for</text>
<text start="2185.67" dur="3.539">making decisions and you can never</text>
<text start="2187.349" dur="4.2">really grow and scale a big company</text>
<text start="2189.209" dur="4.38">without principles in a clearly defined</text>
<text start="2191.549" dur="4.351">mission because if you don't have a</text>
<text start="2193.589" dur="3.51">clearly defined mission then once you</text>
<text start="2195.9" dur="2.609">get a lot of people you can't</text>
<text start="2197.099" dur="4.23">communicate with all of them all the</text>
<text start="2198.509" dur="5.931">time and they all need to be rolling in</text>
<text start="2201.329" dur="5.611">pointing in the same direction right</text>
<text start="2204.44" dur="4.72">direction and alignment is hugely</text>
<text start="2206.94" dur="3.72">important and if you don't have that</text>
<text start="2209.16" dur="3.569">clearly defined everyone's going to</text>
<text start="2210.66" dur="4.589">start spawning out in different</text>
<text start="2212.729" dur="4.171">directions some directions are going to</text>
<text start="2215.249" dur="3.631">be the inverse of others everything's</text>
<text start="2216.9" dur="3.54">going to start contradicting itself it's</text>
<text start="2218.88" dur="4.25">going to get convoluted and it's going</text>
<text start="2220.44" dur="6.269">to just blow up in self destruct right</text>
<text start="2223.13" dur="4.81">also people are going to start making</text>
<text start="2226.709" dur="3.361">decisions in different</text>
<text start="2227.94" dur="4.62">ways in meetings some people are going</text>
<text start="2230.07" dur="5.49">to think that profit is more important</text>
<text start="2232.56" dur="4.62">than the customer they're like screw</text>
<text start="2235.56" dur="3.42">those customers let's just charge them a</text>
<text start="2237.18" dur="4.17">lot more right because we can make more</text>
<text start="2238.98" dur="4.47">money than more money for us someone</text>
<text start="2241.35" dur="3.93">might think that way a lot of people</text>
<text start="2243.45" dur="3.87">think that way I see it every day</text>
<text start="2245.28" dur="5.61">but that's why having something like</text>
<text start="2247.32" dur="5.61">this is important because if if making a</text>
<text start="2250.89" dur="4.5">lot more money or doing what's best for</text>
<text start="2252.93" dur="4.32">the student are options then I'll always</text>
<text start="2255.39" dur="6.45">side with what's best for the student</text>
<text start="2257.25" dur="6.93">all right and so debt that way when you</text>
<text start="2261.84" dur="5.22">grow a company in a team everyone knows</text>
<text start="2264.18" dur="6.35">which one to choose when they approach</text>
<text start="2267.06" dur="9.41">like that fork in the road very powerful</text>
<text start="2270.53" dur="18.22">now another one is to look number four</text>
<text start="2276.47" dur="15.04">is to look at decision patterns now</text>
<text start="2288.75" dur="5.91">decision patterns is something that a</text>
<text start="2291.51" dur="4.86">very powerful and a lot of people don't</text>
<text start="2294.66" dur="2.94">know how to spot them see a lot of</text>
<text start="2296.37" dur="3.8">people are very bad at pattern</text>
<text start="2297.6" dur="5.76">recognition they only see things as they</text>
<text start="2300.17" dur="6.25">are they don't see that when they see</text>
<text start="2303.36" dur="5.64">something like this whiteboard or this</text>
<text start="2306.42" dur="3.9">listen all this number three they're</text>
<text start="2309" dur="2.52">just like oh that's a white border</text>
<text start="2310.32" dur="3.45">that's number three they don't look at</text>
<text start="2311.52" dur="5.25">the space in between the things right</text>
<text start="2313.77" dur="4.95">some people look at the objects and some</text>
<text start="2316.77" dur="4.86">people look at relationships between the</text>
<text start="2318.72" dur="4.98">objects and the best way is to look at</text>
<text start="2321.63" dur="4.47">both look at the relationships between</text>
<text start="2323.7" dur="4.2">the things and the things because</text>
<text start="2326.1" dur="4.14">sometimes you can spot a pattern of</text>
<text start="2327.9" dur="4.53">objects and sometimes you can spot a</text>
<text start="2330.24" dur="4.95">pattern of relationships right or a</text>
<text start="2332.43" dur="5.13">pattern of relationships in objects and</text>
<text start="2335.19" dur="5.04">this allows you to be way better at</text>
<text start="2337.56" dur="7.29">pattern recognition so for example with</text>
<text start="2340.23" dur="7.47">my minimum viable wedding I approached a</text>
<text start="2344.85" dur="6.48">fork in a road where there was two paths</text>
<text start="2347.7" dur="4.83">one was very complex and the other one</text>
<text start="2351.33" dur="4.19">well basically there was like three</text>
<text start="2352.53" dur="4.77">three basic paths one was have a complex</text>
<text start="2355.52" dur="5.11">wedding because that's what everyone</text>
<text start="2357.3" dur="4.309">does and the other one was to have no</text>
<text start="2360.63" dur="2.899">wedding at all</text>
<text start="2361.609" dur="5.371">seemed a bit extreme and then the other</text>
<text start="2363.529" dur="6.21">one it was to come up with some new</text>
<text start="2366.98" dur="5.339">thing right some new species some new</text>
<text start="2369.739" dur="4.86">breed of weeding right and then I</text>
<text start="2372.319" dur="5.091">thought well we are else have I seen</text>
<text start="2374.599" dur="6">this pattern right where it's convention</text>
<text start="2377.41" dur="6.22">nothing or new mix and I was like oh</text>
<text start="2380.599" dur="5.281">look I remember the Lean Startup where</text>
<text start="2383.63" dur="4.08">they talk which is a book I read by Eric</text>
<text start="2385.88" dur="6.379">Ries and they talked about this concept</text>
<text start="2387.71" dur="9.119">of the MVP which means Minimum Viable</text>
<text start="2392.259" dur="7.24">Product right and basically what they're</text>
<text start="2396.829" dur="4.29">talking about in that book is how a lot</text>
<text start="2399.499" dur="4.77">of startups believe they need to build</text>
<text start="2401.119" dur="5.7">this big fancy deluxe extravagant</text>
<text start="2404.269" dur="5.671">product for it to add any value to</text>
<text start="2406.819" dur="6.3">people and it's basically a death march</text>
<text start="2409.94" dur="4.829">that people go on and it requires huge</text>
<text start="2413.119" dur="3.24">amounts of energy resources and</text>
<text start="2414.769" dur="3.391">everything and it doesn't really add</text>
<text start="2416.359" dur="6.601">that much value and it often ends in</text>
<text start="2418.16" dur="6.24">failure and then he talks about the Lean</text>
<text start="2422.96" dur="3">Startup which is basically where you</text>
<text start="2424.4" dur="4.619">come up with the MVP or Minimum Viable</text>
<text start="2425.96" dur="5.609">Product where you look at really the</text>
<text start="2429.019" dur="5.701">what the user wants and then you look at</text>
<text start="2431.569" dur="4.92">the product that you want to build and</text>
<text start="2434.72" dur="3.72">then you think which things are really</text>
<text start="2436.489" dur="4.59">important for the user and which things</text>
<text start="2438.44" dur="5.099">aren't what's value what's waste and you</text>
<text start="2441.079" dur="4.47">start stripping it out right you start</text>
<text start="2443.539" dur="5.28">stripping it back until it's down to</text>
<text start="2445.549" dur="5.31">something very minimum it's not nothing</text>
<text start="2448.819" dur="4.77">it's not something extravagant it's</text>
<text start="2450.859" dur="5.611">whatever is the Minimum Viable that is</text>
<text start="2453.589" dur="5.49">what the pattern in there is and so when</text>
<text start="2456.47" dur="5.73">it came to my wedding I thought huh I</text>
<text start="2459.079" dur="5.071">could just apply that instead of MVP mvw</text>
<text start="2462.2" dur="4.079">Minimum Viable wedding just did the same</text>
<text start="2464.15" dur="5.159">analysis ran the same pattern on it and</text>
<text start="2466.279" dur="4.951">came up with a different thing and I've</text>
<text start="2469.309" dur="3.99">done this with lots of stuff I just run</text>
<text start="2471.23" dur="5.069">the same pattern we've got Minimum</text>
<text start="2473.299" dur="4.77">Viable process in our company right we</text>
<text start="2476.299" dur="4.651">think oh this would be perfect process</text>
<text start="2478.069" dur="5.581">or like this would be the perfect system</text>
<text start="2480.95" dur="4.77">but this would be MVP like Minimum</text>
<text start="2483.65" dur="4.889">Viable process in my course where I</text>
<text start="2485.72" dur="5.639">teach people consoling calm the courses</text>
<text start="2488.539" dur="5.07">we have we teach people how to come up</text>
<text start="2491.359" dur="3.871">with a service or a product and we teach</text>
<text start="2493.609" dur="3.811">the Minimum Viable Service</text>
<text start="2495.23" dur="5.7">Minimum Viable Product we teach this too</text>
<text start="2497.42" dur="6.06">and then when it comes to coming up with</text>
<text start="2500.93" dur="3.899">a course we show people in up level</text>
<text start="2503.48" dur="3.48">consulting which is one of our courses</text>
<text start="2504.829" dur="4.29">how to make the ultimate course and we</text>
<text start="2506.96" dur="5.73">talk about MVC Minimum Viable cause</text>
<text start="2509.119" dur="5.97">right so I learned this pattern once and</text>
<text start="2512.69" dur="4.169">it's basically a decision-making pattern</text>
<text start="2515.089" dur="4.201">I learned it once but instead of</text>
<text start="2516.859" dur="5.821">thinking that only applies to products</text>
<text start="2519.29" dur="5.7">in startups no I took that and I applied</text>
<text start="2522.68" dur="4.439">it everywhere I basically took a pattern</text>
<text start="2524.99" dur="4.83">and extrapolated it out over everything</text>
<text start="2527.119" dur="4.771">and used it as a model for making</text>
<text start="2529.82" dur="4.49">decisions and this is what you want to</text>
<text start="2531.89" dur="4.949">start doing you want to start analyzing</text>
<text start="2534.31" dur="5.14">decisions that people make and companies</text>
<text start="2536.839" dur="4.53">make and you can look back in time often</text>
<text start="2539.45" dur="4.56">it's best to look back in time because</text>
<text start="2541.369" dur="4.801">then you can see the future because the</text>
<text start="2544.01" dur="3.75">futures today and you can really judge</text>
<text start="2546.17" dur="3.81">whether those decisions were good or not</text>
<text start="2547.76" dur="5.43">looking at decisions people make today</text>
<text start="2549.98" dur="5.67">isn't very helpful because like you've</text>
<text start="2553.19" dur="3.99">got to wait for the future to occur for</text>
<text start="2555.65" dur="2.85">for you to really know whether that was</text>
<text start="2557.18" dur="4.56">smart or not so I like looking at</text>
<text start="2558.5" dur="5.91">history for this and what I'm looking</text>
<text start="2561.74" dur="4.8">for is common patterns now obviously I</text>
<text start="2564.41" dur="4.14">might not be in the same niche I might</text>
<text start="2566.54" dur="4.71">not be in the same country that time</text>
<text start="2568.55" dur="4.319">like the 1900s or whatever like that</text>
<text start="2571.25" dur="4.38">time isn't now things have changed</text>
<text start="2572.869" dur="5.361">technology is different people's tastes</text>
<text start="2575.63" dur="5.52">and culture everything has changed but</text>
<text start="2578.23" dur="5.619">that doesn't mean that I can't use those</text>
<text start="2581.15" dur="5.429">patterns from the past for decisions</text>
<text start="2583.849" dur="5.131">today right and you want to kind of</text>
<text start="2586.579" dur="5.76">build a library in your mind of</text>
<text start="2588.98" dur="5.099">different patterns right and when you</text>
<text start="2592.339" dur="4.051">build this library of different patterns</text>
<text start="2594.079" dur="4.591">then whenever it comes to a decision</text>
<text start="2596.39" dur="3.959">when you're thinking critically and</text>
<text start="2598.67" dur="4.439">you've got energy to do so because</text>
<text start="2600.349" dur="7.381">you've done less stuff then you can</text>
<text start="2603.109" dur="5.851">start taking this situation and seeing</text>
<text start="2607.73" dur="3.33">what it would look like on different</text>
<text start="2608.96" dur="3.389">patterns from these different libraries</text>
<text start="2611.06" dur="2.85">in your mind and you're basically</text>
<text start="2612.349" dur="3.361">projecting it out on that pattern</text>
<text start="2613.91" dur="3.57">projecting it out on that one projecting</text>
<text start="2615.71" dur="4.23">it out on that one projecting it out on</text>
<text start="2617.48" dur="5.46">that one and you're like oh that that</text>
<text start="2619.94" dur="5.25">one that one makes sense right now you</text>
<text start="2622.94" dur="5.73">need to build this library or these</text>
<text start="2625.19" dur="5.159">libraries in your mind so that you</text>
<text start="2628.67" dur="3.57">can call them when you're making</text>
<text start="2630.349" dur="6.51">decisions in life that is why it's</text>
<text start="2632.24" dur="6.24">important to like analyze things like I</text>
<text start="2636.859" dur="3.331">don't just analyze my own decisions I</text>
<text start="2638.48" dur="5.04">analyze other people's decisions and</text>
<text start="2640.19" dur="5.34">then I wait I don't make a I don't think</text>
<text start="2643.52" dur="3.72">like oh that was a bad decision or that</text>
<text start="2645.53" dur="4.529">was a good decision I wait for time to</text>
<text start="2647.24" dur="6.66">tell me right because my opinion isn't</text>
<text start="2650.059" dur="5.701">fact like it might be but only time is</text>
<text start="2653.9" dur="4.29">going to tell us whether it was fact or</text>
<text start="2655.76" dur="4.559">opinion and so I like to wait for time</text>
<text start="2658.19" dur="6.45">to be the judge and the decider of that</text>
<text start="2660.319" dur="7.711">and then I start connecting these things</text>
<text start="2664.64" dur="6.09">like and seeing what patterns are bad</text>
<text start="2668.03" dur="4.529">and what patterns are good and when you</text>
<text start="2670.73" dur="3.389">know what patterns are bad you stay away</text>
<text start="2672.559" dur="4.941">from them you like all this looks like a</text>
<text start="2674.119" dur="6.93">bad pattern right for example having a</text>
<text start="2677.5" dur="6.099">extravagant lifestyle right we've</text>
<text start="2681.049" dur="5.641">seen so many instances of this bad</text>
<text start="2683.599" dur="6.151">pattern that I don't know how people can</text>
<text start="2686.69" dur="6.21">actually apply this pattern and be blind</text>
<text start="2689.75" dur="6">to it it's everywhere it's blatant like</text>
<text start="2692.9" dur="4.949">look at Mike Tyson dude was crushing it</text>
<text start="2695.75" dur="4.5">making a killing he bought Tyee Board of</text>
<text start="2697.849" dur="4.801">damn tiger he did all sorts of crazy</text>
<text start="2700.25" dur="5.13"> and it didn't really go too well</text>
<text start="2702.65" dur="4.56">for him right a lot of athletes end up</text>
<text start="2705.38" dur="3.27">broke and then once they're at the top</text>
<text start="2707.21" dur="4.859">of their game a lot of entrepreneurs</text>
<text start="2708.65" dur="6.12">I've seen like this pattern of massive</text>
<text start="2712.069" dur="4.98">demanding hungry lifestyle and being</text>
<text start="2714.77" dur="4.349">extravagant doesn't end well ok what is</text>
<text start="2717.049" dur="3.961">the inverse of this pattern right we</text>
<text start="2719.119" dur="3.331">know that's a bad pattern anti-pattern</text>
<text start="2721.01" dur="3.059">we shouldn't do it but what's the</text>
<text start="2722.45" dur="4.409">inverse because often when we know</text>
<text start="2724.069" dur="6.601">what's bad the inverse of that is good</text>
<text start="2726.859" dur="6.69">so we try it so we flip it and then what</text>
<text start="2730.67" dur="5.189">about a simple personal life well a lot</text>
<text start="2733.549" dur="5.491">of people who have simple personal lives</text>
<text start="2735.859" dur="6.601">they're extremely successful like you've</text>
<text start="2739.04" dur="5.009">got Warren Buffett who has very simple</text>
<text start="2742.46" dur="5.01">life the Google founders Larry Page</text>
<text start="2744.049" dur="7.621">Sergey Brin they have a Prius right a</text>
<text start="2747.47" dur="8.119">lot of successful people in all sorts of</text>
<text start="2751.67" dur="6.09">domains over all eras of time in history</text>
<text start="2755.589" dur="3.76">had simple lives and that was a good</text>
<text start="2757.76" dur="4.77">thing so you see what we've done there</text>
<text start="2759.349" dur="6.601">like we've built up a library of just</text>
<text start="2762.53" dur="6.36">a pattern an anti-pattern and a positive</text>
<text start="2765.95" dur="6.36">pattern for how to have how to have a</text>
<text start="2768.89" dur="6.3">lifestyle right simple and frugal is</text>
<text start="2772.31" dur="6.36">good extravagant and ridiculous is bad</text>
<text start="2775.19" dur="5.58">and now we've got something and then the</text>
<text start="2778.67" dur="4.5">MVP pattern right you hopefully you can</text>
<text start="2780.77" dur="4.89">start to see what I'm doing here and</text>
<text start="2783.17" dur="4.53">don't ever think that this one thing can</text>
<text start="2785.66" dur="3.96">only be applied for that one thing a lot</text>
<text start="2787.7" dur="3.6">of people will see how like Warren</text>
<text start="2789.62" dur="3.6">Buffett lives and be like oh that just</text>
<text start="2791.3" dur="5.43">works for like Warren Buffett and that</text>
<text start="2793.22" dur="6.12">was just because he's over an Omaha like</text>
<text start="2796.73" dur="4.08">and then they'd be like they just</text>
<text start="2799.34" dur="2.4">dismiss it well that's only because he's</text>
<text start="2800.81" dur="4.23">old</text>
<text start="2801.74" dur="5.28">right that's silly you want to look at</text>
<text start="2805.04" dur="3.63">multiple instances you can't tell much</text>
<text start="2807.02" dur="4.05">from a singular instance but once you</text>
<text start="2808.67" dur="5.64">look at a range of instances in a range</text>
<text start="2811.07" dur="6.15">of different industries over a range of</text>
<text start="2814.31" dur="5.67">different areas of time then you can</text>
<text start="2817.22" dur="5.31">start to see the patterns right if it's</text>
<text start="2819.98" dur="5.07">true across all of these different</text>
<text start="2822.53" dur="4.77">variables then you know what an</text>
<text start="2825.05" dur="7.73">anti-pattern and a good pattern is right</text>
<text start="2827.3" dur="9.38">and you can't really argue with that now</text>
<text start="2832.78" dur="8.62">let's go to part three - ebony space yep</text>
<text start="2836.68" dur="6.4">p3 and this is called apply mental</text>
<text start="2841.4" dur="11.97">models which we've started to get into a</text>
<text start="2843.08" dur="12.9">little bit so applying mental models is</text>
<text start="2853.37" dur="4.98">basically different patterns right now</text>
<text start="2855.98" dur="6.39">I'm gonna give you some of them because</text>
<text start="2858.35" dur="6.57">these take like time to get and you have</text>
<text start="2862.37" dur="4.44">to really be looking at good good things</text>
<text start="2864.92" dur="4.77">and studying good things to be able to</text>
<text start="2866.81" dur="4.35">accumulate good things right so I'm just</text>
<text start="2869.69" dur="3.87">gonna give you a whole bunch of them</text>
<text start="2871.16" dur="4.11">which will help you a lot and these are</text>
<text start="2873.56" dur="3.78">like some of the best of all time that</text>
<text start="2875.27" dur="4.38">I've found from looking at a lot of</text>
<text start="2877.34" dur="4.83">stuff all right probably done probably</text>
<text start="2879.65" dur="4.14">been in business for like 30,000 hours</text>
<text start="2882.17" dur="5.22">or something just quite a lot of time</text>
<text start="2883.79" dur="5.97">crammed into about nine years and that</text>
<text start="2887.39" dur="4.38">from that I'm gonna show you some of the</text>
<text start="2889.76" dur="6.24">best mental models I got I got how many</text>
<text start="2891.77" dur="6.089">of them I think there is</text>
<text start="2896" dur="5.49">like eight or something like that so</text>
<text start="2897.859" dur="8.041">let's get started mental model one now</text>
<text start="2901.49" dur="5.609">this is really a cool thing that you</text>
<text start="2905.9" dur="5.51">need for every mental model and</text>
<text start="2907.099" dur="4.311">everything and that's just defining goal</text>
<text start="2912.34" dur="5.11">right this is so important you can't do</text>
<text start="2915.65" dur="4.56">anything without knowing what your goal</text>
<text start="2917.45" dur="5.31">is right the goal I refer to it is like</text>
<text start="2920.21" dur="4.26">you'll pull out a star and the reason I</text>
<text start="2922.76" dur="4.29">call it that is because you know in days</text>
<text start="2924.47" dur="4.17">of old when you were out at sea on a</text>
<text start="2927.05" dur="3.93">ship and you didn't have GPS and all</text>
<text start="2928.64" dur="5.4">this crap that we've got today you would</text>
<text start="2930.98" dur="5.16">look to the sky and spot the North Star</text>
<text start="2934.04" dur="4.77">Polaris star and you would use that to</text>
<text start="2936.14" dur="5.07">calibrate we were going so that you</text>
<text start="2938.81" dur="4.23">could like you know what you knew where</text>
<text start="2941.21" dur="4.409">you were in time and space and how to</text>
<text start="2943.04" dur="4.319">get to where you were going right so you</text>
<text start="2945.619" dur="4.23">can see I took that pattern from like a</text>
<text start="2947.359" dur="5.821">ship you know like in days of old and</text>
<text start="2949.849" dur="5.311">applied it to golds right so you need a</text>
<text start="2953.18" dur="2.939">pie or a star it's the only way to know</text>
<text start="2955.16" dur="2.85">whether you're going in the right</text>
<text start="2956.119" dur="5.461">direction or not or actually what you're</text>
<text start="2958.01" dur="11.45">trying to do so have a goal and then the</text>
<text start="2961.58" dur="11.94">second one is to think long term now</text>
<text start="2969.46" dur="5.379">long term some people I often talk I'm</text>
<text start="2973.52" dur="3.42">talking about long term and short term</text>
<text start="2974.839" dur="3.631">and then I realized that the whole time</text>
<text start="2976.94" dur="4.02">I was talking about it the person I was</text>
<text start="2978.47" dur="5.43">talking to was thinking that long term</text>
<text start="2980.96" dur="4.95">was like six months when I say long term</text>
<text start="2983.9" dur="3.03">I'm thinking ten twenty thirty years</text>
<text start="2985.91" dur="3.78">right</text>
<text start="2986.93" dur="5.55">short term I'm thinking one year short</text>
<text start="2989.69" dur="5.25">term is a year long term is ten twenty</text>
<text start="2992.48" dur="5.85">thirty years right now</text>
<text start="2994.94" dur="6.69">the longer term you think the better the</text>
<text start="2998.33" dur="6.39">decisions you will make right long term</text>
<text start="3001.63" dur="5.16">thinking is just a pillar of success no</text>
<text start="3004.72" dur="3.54">matter who you look at that this is a</text>
<text start="3006.79" dur="4.2">pattern right people who think</text>
<text start="3008.26" dur="6.06">short-term they end up like obese</text>
<text start="3010.99" dur="5.52">infused their skin fuses to their couch</text>
<text start="3014.32" dur="4.68">and they have to get craned out right</text>
<text start="3016.51" dur="5.4">doesn't end well bad pattern but</text>
<text start="3019" dur="5.76">thinking long term this goes quite well</text>
<text start="3021.91" dur="4.29">right so you want to think long term the</text>
<text start="3024.76" dur="5.46">longer term you think the better and</text>
<text start="3026.2" dur="7.5">your mission that you should define here</text>
<text start="3030.22" dur="6.3">should be long-term right companies that</text>
<text start="3033.7" dur="7.5">have set very long-term missions did the</text>
<text start="3036.52" dur="8.76">ones that do the best now three what</text>
<text start="3041.2" dur="15.66">have we got here project decision</text>
<text start="3045.28" dur="13.35">options project vectors options right so</text>
<text start="3056.86" dur="4.92">what you want to do once you've got your</text>
<text start="3058.63" dur="7.94">goal and I'll draw this down here with a</text>
<text start="3061.78" dur="12.06">different color so let's say here's goal</text>
<text start="3066.57" dur="10.03">and here is now and you were here now</text>
<text start="3073.84" dur="4.38">and you want goal right well what you</text>
<text start="3076.6" dur="3.87">want to start doing and goal should be</text>
<text start="3078.22" dur="4.23">long term is when if you've got to make</text>
<text start="3080.47" dur="4.11">a decision the first thing you want to</text>
<text start="3082.45" dur="6.33">do is kind of project out these</text>
<text start="3084.58" dur="9.48">different vectors and see like see how</text>
<text start="3088.78" dur="9">far or how close they will take you to</text>
<text start="3094.06" dur="5.82">your goal right now some of them might</text>
<text start="3097.78" dur="5.43">be better in the short term but worse in</text>
<text start="3099.88" dur="5.67">the long term and some of them might</text>
<text start="3103.21" dur="5.22">take you a long way but in a slightly</text>
<text start="3105.55" dur="4.65">different course right you've got to</text>
<text start="3108.43" dur="2.94">look at all of the different options</text>
<text start="3110.2" dur="3.57">that you have when you're making a</text>
<text start="3111.37" dur="3.96">decision to see where it's going to go</text>
<text start="3113.77" dur="4.59">and you want to kind of project them out</text>
<text start="3115.33" dur="5.61">like this that is like a good first step</text>
<text start="3118.36" dur="3.63">now you can't even do this until you</text>
<text start="3120.94" dur="3.03">know what your goal is</text>
<text start="3121.99" dur="3.48">you also can't do it until you're</text>
<text start="3123.97" dur="2.46">completely honest with where you are</text>
<text start="3125.47" dur="3.81">right now</text>
<text start="3126.43" dur="4.02">right you have to be totally honest with</text>
<text start="3129.28" dur="5.34">yourself about your current situation</text>
<text start="3130.45" dur="7.23">and what you have an inventory and then</text>
<text start="3134.62" dur="5.43">you have to be clear and decisive about</text>
<text start="3137.68" dur="4.62">this long-term goal and then that you</text>
<text start="3140.05" dur="12.87">start to map these things out</text>
<text start="3142.3" dur="16.7">all right now what else have we got then</text>
<text start="3152.92" dur="6.08">you want to calculate the half-life</text>
<text start="3159.78" dur="9.21">of decisions alright now I took this</text>
<text start="3166.35" dur="4.77">pattern from chemistry right this isn't</text>
<text start="3168.99" dur="4.47">even I'd never heard anyone else use it</text>
<text start="3171.12" dur="3.99">in the in the context of decision making</text>
<text start="3173.46" dur="3.93">but I borrowed that pattern and used to</text>
<text start="3175.11" dur="5.16">here so in chemistry you talk about a</text>
<text start="3177.39" dur="5.28">half-life of something like you know the</text>
<text start="3180.27" dur="4.26">half-life of caffeine might be six hours</text>
<text start="3182.67" dur="4.41">that means you ingest some caffeine it</text>
<text start="3184.53" dur="5.24">has some kind of effect and you for like</text>
<text start="3187.08" dur="5.58">six hours and then it fades right so I</text>
<text start="3189.77" dur="6.7">that that's a half life everything has</text>
<text start="3192.66" dur="6.3">like a half-life and when it comes to</text>
<text start="3196.47" dur="5.73">decisions they have like a half-life 2</text>
<text start="3198.96" dur="5.55">if you think about it so if every day I</text>
<text start="3202.2" dur="4.38">wake up and I think what am I going to</text>
<text start="3204.51" dur="4.68">wear today what is the half-life of</text>
<text start="3206.58" dur="4.38">their decision it's 24 hours I'm gonna</text>
<text start="3209.19" dur="4.29">have to make it again and again again so</text>
<text start="3210.96" dur="4.53">but what is the what is the half-life of</text>
<text start="3213.48" dur="6.96">a decision where I decide to wear the</text>
<text start="3215.49" dur="8.25">same thing like in every day that</text>
<text start="3220.44" dur="5.88">half-life is about like years it could</text>
<text start="3223.74" dur="4.29">be 10 years 20 years so with the same</text>
<text start="3226.32" dur="4.11">amount of energy I made a decision that</text>
<text start="3228.03" dur="3.9">lasted 20 years whereas with the same</text>
<text start="3230.43" dur="5.46">amount of energy someone made a decision</text>
<text start="3231.93" dur="7.43">that lasts 24 hours right that is</text>
<text start="3235.89" dur="7.23">analyzing the half-life of a decision so</text>
<text start="3239.36" dur="5.86">that's one great mental model the other</text>
<text start="3243.12" dur="3.51">one is food like if you think every day</text>
<text start="3245.22" dur="4.23">at lunch and dinner what am I going to</text>
<text start="3246.63" dur="5.34">eat and then you go into a research like</text>
<text start="3249.45" dur="5.07">R&D process that lasts an hour probably</text>
<text start="3251.97" dur="3.72">an argument with your partner but what</text>
<text start="3254.52" dur="3.24">are we gonna don't know I don't know I</text>
<text start="3255.69" dur="6.11">don't know now it's domestic now it goes</text>
<text start="3257.76" dur="8.07">into tomorrow like this happens right so</text>
<text start="3261.8" dur="5.77">really really really stupid you want to</text>
<text start="3265.83" dur="4.2">look at and be like I can't do this</text>
<text start="3267.57" dur="4.29">every damn day right this is stupid I'm</text>
<text start="3270.03" dur="2.31">not gonna spend an hour every day of my</text>
<text start="3271.86" dur="3.3">life</text>
<text start="3272.34" dur="5.07">quarreling about some matter that's</text>
<text start="3275.16" dur="4.65">gonna into my mouth I need to come up</text>
<text start="3277.41" dur="4.62">with this longer term solution so you</text>
<text start="3279.81" dur="4.14">come up with a meal delivery thing like</text>
<text start="3282.03" dur="4.08">this or kotha I told you I was using I</text>
<text start="3283.95" dur="3.99">have to think about it once sold four</text>
<text start="3286.11" dur="3.51">years right and it's also better for my</text>
<text start="3287.94" dur="3.12">health better for everything and it</text>
<text start="3289.62" dur="3.03">saves money too because it's cheaper</text>
<text start="3291.06" dur="2.5">then even going to the supermarket and</text>
<text start="3292.65" dur="3.19">buying my own stuff</text>
<text start="3293.56" dur="5.19">right so it's better financially it's</text>
<text start="3295.84" dur="5.7">better for me health-wise it's better</text>
<text start="3298.75" dur="4.41">for my relationship it's better for</text>
<text start="3301.54" dur="3.57">everyone I'm around it's better for</text>
<text start="3303.16" dur="5.46">everything right so it's a great</text>
<text start="3305.11" dur="5.88">decision and it was only using the same</text>
<text start="3308.62" dur="4.26">amount of energy and time that a lot of</text>
<text start="3310.99" dur="3.03">people spend to make a decision about</text>
<text start="3312.88" dur="4.92">what meal they're going to eat once</text>
<text start="3314.02" dur="7.01">right half life then another one would</text>
<text start="3317.8" dur="15.69">be second-order</text>
<text start="3321.03" dur="19.5">consequences now note on this half-life</text>
<text start="3333.49" dur="8.37">1 you typically have dividends or decay</text>
<text start="3340.53" dur="3.97">now</text>
<text start="3341.86" dur="6.51">dividends is when you make one decision</text>
<text start="3344.5" dur="7.05">once and it's half-life isn't only a</text>
<text start="3348.37" dur="7.2">long time but it starts to pay dividends</text>
<text start="3351.55" dur="8.07">right so the decision adds more value in</text>
<text start="3355.57" dur="6.3">the future then it does today right that</text>
<text start="3359.62" dur="4.62">is a really good decision the same way</text>
<text start="3361.87" dur="4.92">money accumulates compound interest when</text>
<text start="3364.24" dur="4.29">saved so I if you have money then you</text>
<text start="3366.79" dur="3.72">get paid interest that comes back round</text>
<text start="3368.53" dur="4.29">and adds to the principle on which the</text>
<text start="3370.51" dur="4.2">interest is recalculated and it grows</text>
<text start="3372.82" dur="5.04">and then you see an exponential curve</text>
<text start="3374.71" dur="6.36">right that means that that decision</text>
<text start="3377.86" dur="5.13">today to save money is worth more in the</text>
<text start="3381.07" dur="3.63">future than it is today you don't see</text>
<text start="3382.99" dur="5.46">much today but in the future you see a</text>
<text start="3384.7" dur="6.33">lot now that is something that has a</text>
<text start="3388.45" dur="5.37">special kind of half-life to it not only</text>
<text start="3391.03" dur="5.76">does that decision last for a long time</text>
<text start="3393.82" dur="4.92">but it's value increases exponentially</text>
<text start="3396.79" dur="4.65">over time so this one would pay</text>
<text start="3398.74" dur="4.71">dividends right and you can have linear</text>
<text start="3401.44" dur="5.55">logarithmic or exponential dividends</text>
<text start="3403.45" dur="5.22">over time and these these are really</text>
<text start="3406.99" dur="4.14">good decisions they're rare if you ever</text>
<text start="3408.67" dur="4.68">find one of them jump at it most you're</text>
<text start="3411.13" dur="4.02">just lucky if the damn thing lasts a bit</text>
<text start="3413.35" dur="6.39">of time and doesn't pay any dividends</text>
<text start="3415.15" dur="6.33">right but ones that actually have a ones</text>
<text start="3419.74" dur="4.71">that pay dividends over time in curve</text>
<text start="3421.48" dur="6">exponentially like those of really big</text>
<text start="3424.45" dur="6.45">ones another one is</text>
<text start="3427.48" dur="7.05">like decisions can also have decay right</text>
<text start="3430.9" dur="5.82">so like what am I going to eat for lunch</text>
<text start="3434.53" dur="4.29">today that decision doesn't even last</text>
<text start="3436.72" dur="3.57">twenty four damn hours because if I'm</text>
<text start="3438.82" dur="4.08">thinking what am I going to eat for</text>
<text start="3440.29" dur="5.49">lunch then that's only really going to</text>
<text start="3442.9" dur="3.57">last about six hours before I'm like I'm</text>
<text start="3445.78" dur="2.79">hungry again</text>
<text start="3446.47" dur="5.82">what am I going to have for dinner so</text>
<text start="3448.57" dur="8.01">it's decay is sharp it pays no dividends</text>
<text start="3452.29" dur="8.55">and it lasts for six hours so it's a</text>
<text start="3456.58" dur="7.98">terrible decision six hours no dividends</text>
<text start="3460.84" dur="6.09">done why would you want to spend any of</text>
<text start="3464.56" dur="7.98">your time dealing with something that</text>
<text start="3466.93" dur="7.62">has things like that right bad so I like</text>
<text start="3472.54" dur="3.569">to get rid of all of those things and</text>
<text start="3474.55" dur="3.96">just focus on the ones that have these</text>
<text start="3476.109" dur="3.841">nice properties like what's a decision</text>
<text start="3478.51" dur="3.359">that's going to last for a long time and</text>
<text start="3479.95" dur="4.35">what's the decision that's going to pay</text>
<text start="3481.869" dur="5.041">dividends exponentially in the future</text>
<text start="3484.3" dur="4.83">right some of these decisions you might</text>
<text start="3486.91" dur="4.62">be wondering well saving money is a</text>
<text start="3489.13" dur="4.02">great one right because of compound</text>
<text start="3491.53" dur="4.17">interest and all of these things so</text>
<text start="3493.15" dur="5.76">saving as good spending lots and being</text>
<text start="3495.7" dur="6.09">an idiot isn't and then your health</text>
<text start="3498.91" dur="5.94">that's a really important one so like</text>
<text start="3501.79" dur="5.79">food and exercise those pay exponential</text>
<text start="3504.85" dur="4.23">dividends because in the future when</text>
<text start="3507.58" dur="3.18">you're older you're gonna you know</text>
<text start="3509.08" dur="4.14">really be noticing the effects of your</text>
<text start="3510.76" dur="3.3">decisions today right so that's another</text>
<text start="3513.22" dur="3.51">one</text>
<text start="3514.06" dur="5.19">hiring good people very important</text>
<text start="3516.73" dur="7.44">knowledge your brain like reading books</text>
<text start="3519.25" dur="7.5">and like trying new things and really</text>
<text start="3524.17" dur="4.23">like experimenting and building your</text>
<text start="3526.75" dur="3.93">knowledge and your library of mental</text>
<text start="3528.4" dur="4.95">models becoming smarter becoming</text>
<text start="3530.68" dur="5.49">healthier fitter and being more</text>
<text start="3533.35" dur="5.91">disciplined having a simple life all of</text>
<text start="3536.17" dur="5.31">these things have really positive</text>
<text start="3539.26" dur="4.44">effects in the future more so in the</text>
<text start="3541.48" dur="4.26">future than they have today so these are</text>
<text start="3543.7" dur="5.61">great things to spend your time thinking</text>
<text start="3545.74" dur="7.56">about also hiring good people if you</text>
<text start="3549.31" dur="5.67">hire someone today then today they're</text>
<text start="3553.3" dur="3.3">not gonna add that much value but if you</text>
<text start="3554.98" dur="3.84">think out into the future they're gonna</text>
<text start="3556.6" dur="4.86">add a lot because well they might add</text>
<text start="3558.82" dur="3.3">really nothing they might ruin your</text>
<text start="3561.46" dur="2.82">whole</text>
<text start="3562.12" dur="5.97">right a hiring decision is one of those</text>
<text start="3564.28" dur="6.18">big ones because who you hire is going</text>
<text start="3568.09" dur="3.84">to go and interface with other people in</text>
<text start="3570.46" dur="3.42">the company if you hire someone good</text>
<text start="3571.93" dur="3.42">they're going to make everyone else in</text>
<text start="3573.88" dur="3.6">the company better they're gonna make</text>
<text start="3575.35" dur="4.2">the company better and they're gonna get</text>
<text start="3577.48" dur="3.72">better over time and so everything's</text>
<text start="3579.55" dur="3.96">going to get better over time right and</text>
<text start="3581.2" dur="6.42">then that person is going to hire people</text>
<text start="3583.51" dur="5.82">and A's hire A's but bees hire seeds so</text>
<text start="3587.62" dur="3.87">if you hire an a then they're going to</text>
<text start="3589.33" dur="4.47">hire other A's of which we'll hire other</text>
<text start="3591.49" dur="4.59">A's and you're good your company's going</text>
<text start="3593.8" dur="4.83">to get exponentially better with time</text>
<text start="3596.08" dur="3.81">however you hire a bee then they're</text>
<text start="3598.63" dur="2.76">going to interface with other people and</text>
<text start="3599.89" dur="3.66">probably make them a bit worse in</text>
<text start="3601.39" dur="3.42">productivity worse products and every</text>
<text start="3603.55" dur="2.88">other thing in the company worse and</text>
<text start="3604.81" dur="4.8">then they're going to go out and hire</text>
<text start="3606.43" dur="5.91">people worse than them because they are</text>
<text start="3609.61" dur="4.5">so that they don't want anyone to</text>
<text start="3612.34" dur="3.81">be a threat to them so they're going out</text>
<text start="3614.11" dur="3.24">on purpose hire people beneath them so</text>
<text start="3616.15" dur="3.75">they can think that they're good and</text>
<text start="3617.35" dur="4.59">then that your company is now because</text>
<text start="3619.9" dur="3.66">obviously if ace hire A's and B's hire</text>
<text start="3621.94" dur="3.06">cc and C's are gonna hire a decent if</text>
<text start="3623.56" dur="2.79">you've got DS than you you're either</text>
<text start="3625" dur="8.69">gonna fail or you're going to go to jail</text>
<text start="3626.35" dur="10.95">right so again look at the half life of</text>
<text start="3633.69" dur="6.82">these decisions and you want to free up</text>
<text start="3637.3" dur="6.18">energy by reducing load so that you can</text>
<text start="3640.51" dur="5.46">think critically and analyze the</text>
<text start="3643.48" dur="4.86">decisions and spend more time and more</text>
<text start="3645.97" dur="5.76">energy on things like who are we going</text>
<text start="3648.34" dur="6.09">to hire and like health and fitness and</text>
<text start="3651.73" dur="5.37">saving and savings and and knowledge and</text>
<text start="3654.43" dur="4.23">learning and less time on like what</text>
<text start="3657.1" dur="8.4">am I going to wear and what am I gonna</text>
<text start="3658.66" dur="10.58">eat all right what else we got consider</text>
<text start="3665.5" dur="5.82">second-order consequences so number six</text>
<text start="3669.24" dur="4.3">I've already got that sorry I didn't</text>
<text start="3671.32" dur="4.26">explain it I actually kind of explained</text>
<text start="3673.54" dur="5.1">it with the a CIA's B's high C's already</text>
<text start="3675.58" dur="5.61">so second-order consequences is again</text>
<text start="3678.64" dur="6.03">like something that you find a lot with</text>
<text start="3681.19" dur="7.11">like chemistry and what it basically</text>
<text start="3684.67" dur="5.97">means is that if you like if you do</text>
<text start="3688.3" dur="4.74">something now then that's gonna have a</text>
<text start="3690.64" dur="4.68">downstream effect that you're not going</text>
<text start="3693.04" dur="4.17">to be fully aware of right</text>
<text start="3695.32" dur="4.74">so let me give you an example let me</text>
<text start="3697.21" dur="9.11">make it completely clear so let's say</text>
<text start="3700.06" dur="8.52">I'm deciding should I buy a 42 inch HD</text>
<text start="3706.32" dur="4.06">plasma TV or whatever the hell they call</text>
<text start="3708.58" dur="6.33">those things these days right should I</text>
<text start="3710.38" dur="7.38">buy this TV or not now if you were an</text>
<text start="3714.91" dur="6">immature decision maker you would think</text>
<text start="3717.76" dur="5.7">that the only downside of buying this TV</text>
<text start="3720.91" dur="2.85">would be that it would cost you some</text>
<text start="3723.46" dur="2.91">money</text>
<text start="3723.76" dur="4.07">oh this TVs gonna cost me a grand that's</text>
<text start="3726.37" dur="5.28">a grand I don't have in my bank account</text>
<text start="3727.83" dur="5.71">that is slit debt mmm they're weighing</text>
<text start="3731.65" dur="3.42">these things right should I have the</text>
<text start="3733.54" dur="3.63">grand in my bank account should I have</text>
<text start="3735.07" dur="5.01">the grand in a TV and then the TV's</text>
<text start="3737.17" dur="4.2">gonna depreciate TV might get stolen so</text>
<text start="3740.08" dur="4.35">I might need some and contents insurance</text>
<text start="3741.37" dur="5.73">TV might consume some energy right from</text>
<text start="3744.43" dur="5.88">like the grid like this is this might be</text>
<text start="3747.1" dur="5.34">the limit of the their analysis what I'm</text>
<text start="3750.31" dur="4.83">interested in isn't the first-order</text>
<text start="3752.44" dur="5.04">consequences it's the downstream effects</text>
<text start="3755.14" dur="4.02">so what's going to happen the second</text>
<text start="3757.48" dur="5.13">order the third order the fourth order</text>
<text start="3759.16" dur="7.11">right so the second order consequence of</text>
<text start="3762.61" dur="4.38">buying a 42 inch TV is that I'm going to</text>
<text start="3766.27" dur="2.49">watch it</text>
<text start="3766.99" dur="3.99">why am I gonna watch it because why the</text>
<text start="3768.76" dur="3.9">hell else would I buy it obviously I'm</text>
<text start="3770.98" dur="3.71">going to watch it and you know what the</text>
<text start="3772.66" dur="4.83">worst thing is that I'm gonna think that</text>
<text start="3774.69" dur="5.41">I'm not getting my value if I don't</text>
<text start="3777.49" dur="4.23">watch it so I'm going to be in a state</text>
<text start="3780.1" dur="4.5">of mind where am i I need to watch this</text>
<text start="3781.72" dur="5.04">TV to make the most of it to make to</text>
<text start="3784.6" dur="3.9">prove it out as a good investment I need</text>
<text start="3786.76" dur="4.29">to sit there and look into this tube</text>
<text start="3788.5" dur="4.44">right this is this is very gets</text>
<text start="3791.05" dur="5.19">dangerous because now I'm spending my</text>
<text start="3792.94" dur="5.73">time watching the TV so now not only if</text>
<text start="3796.24" dur="4.17">I lost money of which I can't easily</text>
<text start="3798.67" dur="3.48">liquidate because it's depreciated</text>
<text start="3800.41" dur="7.38">probably 60% at the moment I left the</text>
<text start="3802.15" dur="8.52">store and now I also am watching it so</text>
<text start="3807.79" dur="4.56">my time is gone right and then my</text>
<text start="3810.67" dur="3.72">intelligence is probably starting to</text>
<text start="3812.35" dur="5.64">decay too because I'm watching this tube</text>
<text start="3814.39" dur="4.95">right so now it's real now that's the</text>
<text start="3817.99" dur="3.99">second order what's going to happen</text>
<text start="3819.34" dur="4.59">third order well now because I don't</text>
<text start="3821.98" dur="4.7">have much time I'm getting lazier I</text>
<text start="3823.93" dur="4.29">might be going to bed later and now my</text>
<text start="3826.68" dur="3.49">cognitive ability</text>
<text start="3828.22" dur="3.96">is harmed because I'm getting less sleep</text>
<text start="3830.17" dur="4.38">because I want to stare at this tube for</text>
<text start="3832.18" dur="4.98">more hours and then my intelligence is</text>
<text start="3834.55" dur="5.819">going down so now I end up at work and</text>
<text start="3837.16" dur="5.25">I'm dumber I am a bit more delusional</text>
<text start="3840.369" dur="7.021">because I'm seriously deprived of sleep</text>
<text start="3842.41" dur="6.54">and I'm also a grand poorer right and I</text>
<text start="3847.39" dur="4.59">also feel like I don't ever that much</text>
<text start="3848.95" dur="4.62">time right and my mind is always like</text>
<text start="3851.98" dur="2.97">trying to connect dots about all of</text>
<text start="3853.57" dur="3.529">these different shows that I'm watching</text>
<text start="3854.95" dur="5.46">it's trying to problem-solve fickt</text>
<text start="3857.099" dur="5.441">fictional characters like fictional life</text>
<text start="3860.41" dur="6.449">problems more than it's trying to solve</text>
<text start="3862.54" dur="7.41">my own immediate problems so now I'm</text>
<text start="3866.859" dur="4.831">basically right now from here the</text>
<text start="3869.95" dur="3.51">third order fourth order fifth order is</text>
<text start="3871.69" dur="4.89">just going to go go to hell from here</text>
<text start="3873.46" dur="4.56">then I might get fired now I'm going to</text>
<text start="3876.58" dur="3.51">spend more time watching the TV because</text>
<text start="3878.02" dur="4.38">I'm fired now I'm probably going to</text>
<text start="3880.09" dur="4.17">start beating myself up and then I'm</text>
<text start="3882.4" dur="3.42">probably going to start hanging out with</text>
<text start="3884.26" dur="3.12">other people who are fired and beating</text>
<text start="3885.82" dur="4.2">themselves up now we're going to go</text>
<text start="3887.38" dur="4.71">exponential and feedback on each other</text>
<text start="3890.02" dur="5.13">and then I'm probably going to get fat</text>
<text start="3892.09" dur="4.11">and then I'm like it's go it's getting</text>
<text start="3895.15" dur="4.05">bad right</text>
<text start="3896.2" dur="5.13">that is what I'm thinking about so that</text>
<text start="3899.2" dur="4.26">is second-order consequences and don't</text>
<text start="3901.33" dur="4.41">think it's truncated just a second order</text>
<text start="3903.46" dur="4.5">it goes third fourth fifth six it goes</text>
<text start="3905.74" dur="4.26">all the way downstream so you want to</text>
<text start="3907.96" dur="4.35">consider these things when you make a</text>
<text start="3910" dur="4.68">decision but a decision like eating a</text>
<text start="3912.31" dur="5.58">salad it sucks right now</text>
<text start="3914.68" dur="6.03">I won't I won't lie like I eat salads</text>
<text start="3917.89" dur="5.79">every day it's not that fun I'd rather</text>
<text start="3920.71" dur="4.29">eat a burger right but I think of is</text>
<text start="3923.68" dur="3.179">this good what is it's going to do for</text>
<text start="3925" dur="4.05">my health good things I'm gonna be</text>
<text start="3926.859" dur="5.881">healthier that means I'm also going to</text>
<text start="3929.05" dur="5.789">be fitter and I'm going to be in better</text>
<text start="3932.74" dur="5.46">shape which is always feels good and</text>
<text start="3934.839" dur="4.831">it's it's healthier and that means I'm</text>
<text start="3938.2" dur="3.27">gonna have more mental clarity I'm also</text>
<text start="3939.67" dur="3.66">going to have more self-control and self</text>
<text start="3941.47" dur="3.36">discipline because I didn't want to do</text>
<text start="3943.33" dur="4.8">this thing and I forced myself to do it</text>
<text start="3944.83" dur="4.89">right and it also costs this money I</text>
<text start="3948.13" dur="4.02">didn't have to think about it much and</text>
<text start="3949.72" dur="5.46">now in the afternoon my cognitive</text>
<text start="3952.15" dur="4.53">ability is sharper because my my body</text>
<text start="3955.18" dur="5.61">isn't committing so much blood to my</text>
<text start="3956.68" dur="5.1">stomach to you know to ingest this piece</text>
<text start="3960.79" dur="4.35">of meat</text>
<text start="3961.78" dur="5.49">so it's all good and every day that gets</text>
<text start="3965.14" dur="3.69">better right so you can order</text>
<text start="3967.27" dur="3.18">consequences of eating a salad versus a</text>
<text start="3968.83" dur="4.73">burger second order consequences of</text>
<text start="3970.45" dur="6.51">reading a book first buying a 42 inch TV</text>
<text start="3973.56" dur="4.18">you see what I'm doing good now what</text>
<text start="3976.96" dur="4.73">else have we got</text>
<text start="3977.74" dur="10.65">consider dependencies and sequencing</text>
<text start="3981.69" dur="7.66">dependencies in sequence right so when</text>
<text start="3988.39" dur="2.28">you are looking at these different</text>
<text start="3989.35" dur="4.77">decisions and running one of these</text>
<text start="3990.67" dur="5.46">different mental models you also you've</text>
<text start="3994.12" dur="3.48">got your now you've got your goal and</text>
<text start="3996.13" dur="6.74">you can look at these different vectors</text>
<text start="3997.6" dur="10.08">but different things work at different</text>
<text start="4002.87" dur="8.65">degrees depending on their dependencies</text>
<text start="4007.68" dur="7.2">and where they are in place in time</text>
<text start="4011.52" dur="5.76">right so you might take one action here</text>
<text start="4014.88" dur="5.52">and then one action here one action</text>
<text start="4017.28" dur="5.22">there and then two in parallel and then</text>
<text start="4020.4" dur="5.4">that allows you to go three in parallel</text>
<text start="4022.5" dur="7.89">and then one massive effort to get here</text>
<text start="4025.8" dur="8.28">right now the sequence so obviously you</text>
<text start="4030.39" dur="7.35">can't have concurrent like you can't run</text>
<text start="4034.08" dur="7.23">concurrent projects and products until</text>
<text start="4037.74" dur="5.64">you have a team not only a team but two</text>
<text start="4041.31" dur="5.43">teams that can really act autonomously</text>
<text start="4043.38" dur="6.06">and achieve excellence on their own</text>
<text start="4046.74" dur="4.11">right this is why I don't understand</text>
<text start="4049.44" dur="3.78">entrepreneurs that build so many</text>
<text start="4050.85" dur="4.02">products like people think I'm crazy for</text>
<text start="4053.22" dur="4.62">everything like one product when we all</text>
<text start="4054.87" dur="5.4">need a small team and now we've got like</text>
<text start="4057.84" dur="5.1">two or three if you include my</text>
<text start="4060.27" dur="4.83">mastermind but really I think they're</text>
<text start="4062.94" dur="5.43">crazy for Evan 20 products we're near</text>
<text start="4065.1" dur="4.29">one person because you can't run 20</text>
<text start="4068.37" dur="3.48">things in parallel</text>
<text start="4069.39" dur="4.44">when there's one of you you can only run</text>
<text start="4071.85" dur="3.78">one even when there's a few of you</text>
<text start="4073.83" dur="4.47">they're not really product developers</text>
<text start="4075.63" dur="4.14">there or product managers there you</text>
<text start="4078.3" dur="4.29">might hire some customer support and</text>
<text start="4079.77" dur="5.19">some sales people these people help with</text>
<text start="4082.59" dur="4.41">the operation of the business right in</text>
<text start="4084.96" dur="4.32">the selling of it and the bookkeeping of</text>
<text start="4087" dur="4.41">it and the operation but they don't</text>
<text start="4089.28" dur="4.77">create the product in the value and they</text>
<text start="4091.41" dur="4.35">don't create that so you can't actually</text>
<text start="4094.05" dur="3.63">run concurrent</text>
<text start="4095.76" dur="4.53">products if you just a one person or if</text>
<text start="4097.68" dur="5.01">you have a few people so the right time</text>
<text start="4100.29" dur="5.85">to add another product to your product</text>
<text start="4102.69" dur="7.109">suite or there right time to do multiple</text>
<text start="4106.14" dur="7.82">things at the same time is it depends so</text>
<text start="4109.799" dur="6.661">it has a dependency right so a</text>
<text start="4113.96" dur="5.17">dependency of doing it multiple products</text>
<text start="4116.46" dur="6.44">might be that you have to have a team</text>
<text start="4119.13" dur="6.26">right or I'll give you another example</text>
<text start="4122.9" dur="5.47">with my company we've got a</text>
<text start="4125.39" dur="5.17">refer-a-friend program where people can</text>
<text start="4128.37" dur="4.86">our customers can refer a friend and get</text>
<text start="4130.56" dur="6.09">a commission for doing so right now in</text>
<text start="4133.23" dur="5.609">order to do that which is always been on</text>
<text start="4136.65" dur="4.89">my on my roadmap I always wanted to do</text>
<text start="4138.839" dur="4.321">it but we needed some dip it had some</text>
<text start="4141.54" dur="3.509">dependencies first of all we had to own</text>
<text start="4143.16" dur="2.94">our own billing system because there was</text>
<text start="4145.049" dur="2.971">no way I could implement this on</text>
<text start="4146.1" dur="4.65">anything else we also had to have our</text>
<text start="4148.02" dur="3.839">one content portal basically because</text>
<text start="4150.75" dur="3.63">none of the other out-of-the-box</text>
<text start="4151.859" dur="4.71">solutions could do it and then we needed</text>
<text start="4154.38" dur="5.25">to have email ability to send emails to</text>
<text start="4156.569" dur="5.101">people and we needed to have really good</text>
<text start="4159.63" dur="4.14">tracking so in order to do</text>
<text start="4161.67" dur="4.62">refer-a-friend I needed to have our own</text>
<text start="4163.77" dur="5.009">content portal our own billing system</text>
<text start="4166.29" dur="5.48">our own tracking system that was really</text>
<text start="4168.779" dur="5.52">good with algorithms for attribution and</text>
<text start="4171.77" dur="6.91">that were accurate and then we also</text>
<text start="4174.299" dur="5.551">needed to have yeah I think I'm going to</text>
<text start="4178.68" dur="2.94">see done a few other things but those</text>
<text start="4179.85" dur="3.389">are dependencies so then we're looking</text>
<text start="4181.62" dur="3.929">at the dependencies of this and then we</text>
<text start="4183.239" dur="4.56">like which one makes most sense now and</text>
<text start="4185.549" dur="3.301">then so you know this is kind of like</text>
<text start="4187.799" dur="3.331">how you're playing Cheers</text>
<text start="4188.85" dur="6.24">you're a grandmaster and Cheers as</text>
<text start="4191.13" dur="6.15">always 10 moves ahead right so when they</text>
<text start="4195.09" dur="4.08">move one piece here most people are just</text>
<text start="4197.28" dur="4.29">looking at their move there but really</text>
<text start="4199.17" dur="6.39">what the grandmasters doing is this move</text>
<text start="4201.57" dur="6.69">is only a requirement for the endgame</text>
<text start="4205.56" dur="5.61">all right and so you don't understand</text>
<text start="4208.26" dur="5.55">what's going on and so this is a</text>
<text start="4211.17" dur="4.77">dependency in a sequence you when you</text>
<text start="4213.81" dur="4.98">think long term and you reverse engineer</text>
<text start="4215.94" dur="5.42">from that backwards then you can start</text>
<text start="4218.79" dur="5.19">to sequence things in the right way and</text>
<text start="4221.36" dur="5.4">it doesn't make sense to a lot of people</text>
<text start="4223.98" dur="5.55">but it makes perfect sense</text>
<text start="4226.76" dur="6.66">for the long term goal</text>
<text start="4229.53" dur="9">that's another thing to think about then</text>
<text start="4233.42" dur="16.32">what else we got way input and output</text>
<text start="4238.53" dur="15.6">symmetry so seven input output symmetry</text>
<text start="4249.74" dur="6.43">so when you make a decision you have to</text>
<text start="4254.13" dur="4.44">do something you have to like you have</text>
<text start="4256.17" dur="5.97">to take action right there requires</text>
<text start="4258.57" dur="5.49">energy and time and resources money too</text>
<text start="4262.14" dur="4.35">then you have an output which is</text>
<text start="4264.06" dur="5.69">basically what value you're going to get</text>
<text start="4266.49" dur="7.32">it might be freed up time it might be</text>
<text start="4269.75" dur="6.09">more money or it might be more value</text>
<text start="4273.81" dur="4.35">added to your customers which in later</text>
<text start="4275.84" dur="4.66">and downstream will turn into money</text>
<text start="4278.16" dur="4.35">right so like you've got inputs and</text>
<text start="4280.5" dur="4.32">outputs and what you want to do is you</text>
<text start="4282.51" dur="5.79">want to weigh the input against the</text>
<text start="4284.82" dur="9.81">output and you want to look at it like</text>
<text start="4288.3" dur="9.63">this so if I let's say this requires 10</text>
<text start="4294.63" dur="7.17">units of energy in and then it has 1</text>
<text start="4297.93" dur="7.17">unit of energy out right I spend a lot</text>
<text start="4301.8" dur="6.3">of time working on this and I get barely</text>
<text start="4305.1" dur="6.54">any value so this is a symmetric down</text>
<text start="4308.1" dur="6.21">there's more downside than there is up</text>
<text start="4311.64" dur="4.8">and we say asymmetric because it's it's</text>
<text start="4314.31" dur="3.84">not symmetrical right but then this</text>
<text start="4316.44" dur="5.97">would be something that was symmetrical</text>
<text start="4318.15" dur="7.11">we would have a 10 in and a 10 out right</text>
<text start="4322.41" dur="6.27">if we do this one we're going downhill</text>
<text start="4325.26" dur="6.36">over time so we're going nowhere</text>
<text start="4328.68" dur="5.7">well actually going we're going to</text>
<text start="4331.62" dur="4.2">failure now and if we scale up these</text>
<text start="4334.38" dur="4.17">efforts we're just going to accelerate</text>
<text start="4335.82" dur="6.24">our demise and then this one we don't</text>
<text start="4338.55" dur="8.04">know where which is basically failure</text>
<text start="4342.06" dur="6.81">because you know you you have like the</text>
<text start="4346.59" dur="4.5">Red Queen effect going on in here which</text>
<text start="4348.87" dur="4.11">is basically like an evolution there's</text>
<text start="4351.09" dur="3.92">basically an arms race and you need to</text>
<text start="4352.98" dur="4.74">innovate it faster and faster and faster</text>
<text start="4355.01" dur="5.1">intervals over time so really if you're</text>
<text start="4357.72" dur="4.8">if you're if your goal is to maintain</text>
<text start="4360.11" dur="2.959">then you're dying right there's no such</text>
<text start="4362.52" dur="2.529">thing as</text>
<text start="4363.069" dur="3.89">and you can google this it's called the</text>
<text start="4365.049" dur="5.54">Red Queen effect it's like a</text>
<text start="4366.959" dur="6.46">evolutionary hypothesis that talks about</text>
<text start="4370.589" dur="5.14">organisms in an environment in nature</text>
<text start="4373.419" dur="7.77">like fighting for scarce resources for</text>
<text start="4375.729" dur="7.59">survival and how really you can't like</text>
<text start="4381.189" dur="4.26">you can't just keep incrementally</text>
<text start="4383.319" dur="4.16">improving it has to be exponential</text>
<text start="4385.449" dur="7.081">improvements over time right so</text>
<text start="4387.479" dur="6.97">maintenance is not going down as a No</text>
<text start="4392.53" dur="5.759">so then what we're really looking for</text>
<text start="4394.449" dur="6.54">here is a small input like a one with an</text>
<text start="4398.289" dur="5.52">asymmetric output which is going to be</text>
<text start="4400.989" dur="7.65">like a hundred right this says more up</text>
<text start="4403.809" dur="9.84">than down that is a good decision so an</text>
<text start="4408.639" dur="6.75">example of this would be like reading a</text>
<text start="4413.649" dur="4.68">book it costs barely anything it's like</text>
<text start="4415.389" dur="5.46">fourteen bucks on Amazon right and then</text>
<text start="4418.329" dur="4.41">it and then it just takes some of your</text>
<text start="4420.849" dur="3.69">time but it makes you smarter and all</text>
<text start="4422.739" dur="5.01">you can what you can do when you're more</text>
<text start="4424.539" dur="6.21">intelligent is ridiculous right so a</text>
<text start="4427.749" dur="4.47">book reading a book a good book I'd have</text>
<text start="4430.749" dur="4.29">to add because if you read a bad book I</text>
<text start="4432.219" dur="5.311">mean it's not really helping but this</text>
<text start="4435.039" dur="4.41">makes you a lot lot smarter and if you</text>
<text start="4437.53" dur="2.509">want a good book read principles by Ray</text>
<text start="4439.449" dur="3.331">Dalio</text>
<text start="4440.039" dur="4.87">principles Ray Dalio I tell you if you</text>
<text start="4442.78" dur="5.279">read that book you will have a symmetric</text>
<text start="4444.909" dur="5.22">upside and you'll get smarter and your</text>
<text start="4448.059" dur="3.84">life will be better more decisions like</text>
<text start="4450.129" dur="5.61">that so that's weighing at the</text>
<text start="4451.899" dur="7.74">input/output symmetry then the next one</text>
<text start="4455.739" dur="6.78">would be consider the risk and ease of</text>
<text start="4459.639" dur="10.88">undo now I'm running out of space here</text>
<text start="4462.519" dur="15.39">but I'll just call this eight risk ease</text>
<text start="4470.519" dur="9.43">of undo so we know looking at different</text>
<text start="4477.909" dur="5.101">decisions and different options you can</text>
<text start="4479.949" dur="4.86">take risk is an important one if you</text>
<text start="4483.01" dur="3.989">have to bit lightly say you've got a</text>
<text start="4484.809" dur="5.25">million bucks if a decision requires you</text>
<text start="4486.999" dur="4.44">to bet all $1,000,000 and it has a low</text>
<text start="4490.059" dur="5.19">chance of success</text>
<text start="4491.439" dur="5.001">this is extremely risky right however if</text>
<text start="4495.249" dur="4.941">you make it if you have a</text>
<text start="4496.44" dur="5.279">million dollars a new bet 10,000 and it</text>
<text start="4500.19" dur="3.99">doesn't have that higher chance of</text>
<text start="4501.719" dur="5.341">success then that's kind of alright you</text>
<text start="4504.18" dur="6.6">can make a lot of 10 grand losses right</text>
<text start="4507.06" dur="5.25">with a million but if you have a million</text>
<text start="4510.78" dur="4.08">you can't mate you can only make one</text>
<text start="4512.31" dur="3">loss of 1 million do you see what I'm</text>
<text start="4514.86" dur="2.79">saying</text>
<text start="4515.31" dur="4.86">same thing goes with time you can't</text>
<text start="4517.65" dur="4.65">really bit multiple lifetimes on</text>
<text start="4520.17" dur="4.319">something you only have one of them so</text>
<text start="4522.3" dur="4.41">you really need to consider the risk and</text>
<text start="4524.489" dur="5.281">you also need to consider the risk of</text>
<text start="4526.71" dur="4.89">the ease of undo so you know if you</text>
<text start="4529.77" dur="4.469">mistype something on your computer you</text>
<text start="4531.6" dur="2.94">just press Apple Z or ctrl Z and undoes</text>
<text start="4534.239" dur="3.261">it</text>
<text start="4534.54" dur="5.97">same thing goes for some decisions right</text>
<text start="4537.5" dur="7.54">you can do some decisions are easier to</text>
<text start="4540.51" dur="6.99">undo than others like for example if you</text>
<text start="4545.04" dur="5.58">were to say something to someone</text>
<text start="4547.5" dur="6.63">important face that was offensive that</text>
<text start="4550.62" dur="6.96">in on the television that is quite hard</text>
<text start="4554.13" dur="7.02">to undo right however if you were to</text>
<text start="4557.58" dur="6.18">just like if you were to just hire the</text>
<text start="4561.15" dur="5.25">wrong person that's quite easy to undo</text>
<text start="4563.76" dur="5.1">in the short term it gets harder to undo</text>
<text start="4566.4" dur="5.819">in the long term so you always want to</text>
<text start="4568.86" dur="6.66">think about if this is wrong how easy</text>
<text start="4572.219" dur="7.291">can I undo it now you also want to think</text>
<text start="4575.52" dur="7.14">if this is wrong am i how screwed am i</text>
<text start="4579.51" dur="7.17">now you want to make decisions that have</text>
<text start="4582.66" dur="8.34">high upside potential so potential to</text>
<text start="4586.68" dur="7.47">win big but low downside potential and</text>
<text start="4591" dur="3.719">easy to undo right these are good</text>
<text start="4594.15" dur="2.73">decisions</text>
<text start="4594.719" dur="5.361">so we basically would call this</text>
<text start="4596.88" dur="6.87">truncated downside distribution but</text>
<text start="4600.08" dur="7.24">unkept upside distribution for example</text>
<text start="4603.75" dur="6.12">in baseball you know if you really swing</text>
<text start="4607.32" dur="4.74">for the fences like you can only really</text>
<text start="4609.87" dur="5.88">get a home run that's it so you've got</text>
<text start="4612.06" dur="5.76">truncated upside but if you really swing</text>
<text start="4615.75" dur="5.82">for it you and you miss then you might</text>
<text start="4617.82" dur="6.419">get nothing all right so it's not really</text>
<text start="4621.57" dur="5.609">that the you we don't really have an</text>
<text start="4624.239" dur="5.731">amazing upside to downside kind of thing</text>
<text start="4627.179" dur="4.931">and you can't undo it it's final</text>
<text start="4629.97" dur="5.77">however in business things are very</text>
<text start="4632.11" dur="6.33">different like in business you can have</text>
<text start="4635.74" dur="5.22">some some decisions where you invest a</text>
<text start="4638.44" dur="6.44">small amount of money and it's very easy</text>
<text start="4640.96" dur="7.59">to undo and the upside is enormous</text>
<text start="4644.88" dur="6.94">because it's uncapped for example you</text>
<text start="4648.55" dur="5.82">could when you're testing ads on like</text>
<text start="4651.82" dur="6.36">Facebook or whatever you could cap your</text>
<text start="4654.37" dur="6.03">downside at like another 100 bucks but</text>
<text start="4658.18" dur="6.03">so the maximum you could lose is $100</text>
<text start="4660.4" dur="5.4">and it's very easy to undo because you</text>
<text start="4664.21" dur="4.44">can just turn them off and delete them</text>
<text start="4665.8" dur="6.21">and you're gonna know the result quite</text>
<text start="4668.65" dur="6.27">quickly within like 48 to 72 hours but</text>
<text start="4672.01" dur="5.52">the upside potential is huge because you</text>
<text start="4674.92" dur="4.77">might be able to ten twenty times your</text>
<text start="4677.53" dur="3.72">money and then you can do that again and</text>
<text start="4679.69" dur="3.84">again and again and each time you do it</text>
<text start="4681.25" dur="5.7">you get better so upside potential is</text>
<text start="4683.53" dur="6.15">huge downside is truncated time frame is</text>
<text start="4686.95" dur="4.47">nice and short it has positive feedback</text>
<text start="4689.68" dur="4.26">into the future so it has like dividends</text>
<text start="4691.42" dur="5.04">if we get it right and very easy to undo</text>
<text start="4693.94" dur="6.81">so like you see what I mean you can</text>
<text start="4696.46" dur="6.12">start to look and risk and ease of undo</text>
<text start="4700.75" dur="5.64">and whenever you're doing your risk</text>
<text start="4702.58" dur="6.21">calculations you always want to put an</text>
<text start="4706.39" dur="5.43">a' margin of safety because humans are</text>
<text start="4708.79" dur="4.62">naturally optimistic and what that means</text>
<text start="4711.82" dur="3.93">is your upside projection is probably</text>
<text start="4713.41" dur="4.32">going to be a bit too high and your</text>
<text start="4715.75" dur="4.2">downside prediction is probably going to</text>
<text start="4717.73" dur="4.32">be a bit too low so you should probably</text>
<text start="4719.95" dur="5.07">cut in half your upside prediction and</text>
<text start="4722.05" dur="5.97">probably times by two your downside</text>
<text start="4725.02" dur="5.34">prediction right that's adding a margin</text>
<text start="4728.02" dur="4.65">of safety right and you always want to</text>
<text start="4730.36" dur="5.4">do that two things you want to ear on</text>
<text start="4732.67" dur="4.71">the side of prudent not optimistic you</text>
<text start="4735.76" dur="5.28">want to be optimistic but you want to</text>
<text start="4737.38" dur="7.74">construct your models on prudent like</text>
<text start="4741.04" dur="6.42">kind of doomsday scenarios right because</text>
<text start="4745.12" dur="4.08">that way if the worst happens</text>
<text start="4747.46" dur="4.08">it wasn't even as bad as you thought</text>
<text start="4749.2" dur="5.31">which was which is a good thing however</text>
<text start="4751.54" dur="6.72">if the good happens and it turns out to</text>
<text start="4754.51" dur="9.919">actually be horriffic well what the hell</text>
<text start="4758.26" dur="13.219">were we thinking right now we've got</text>
<text start="4764.429" dur="13.51">counteract troughs with inverse curves 9</text>
<text start="4771.479" dur="8.98">counteract troughs so now are we getting</text>
<text start="4777.939" dur="6.961">into some cooler stuff so let's say</text>
<text start="4780.459" dur="6.45">here's time and here's reward right it</text>
<text start="4784.9" dur="4.529">could be you know I have to just move</text>
<text start="4786.909" dur="4.29">this a bit so we've got a little chart</text>
<text start="4789.429" dur="4.11">here we've got reward which could be</text>
<text start="4791.199" dur="5.121">dollars value anything and here we've</text>
<text start="4793.539" dur="8.221">got time and it might be years right now</text>
<text start="4796.32" dur="9.009">if it's positive negative and yep so</text>
<text start="4801.76" dur="6.06">let's say that one course of action one</text>
<text start="4805.329" dur="4.92">decision that we're interested in in the</text>
<text start="4807.82" dur="6.599">short term it takes us down and in the</text>
<text start="4810.249" dur="7.861">long term it takes us up right now we</text>
<text start="4814.419" dur="5.51">would call this a trough now for example</text>
<text start="4818.11" dur="4.259">a software business has a huge trough</text>
<text start="4819.929" dur="4.78">because you have to pay money to acquire</text>
<text start="4822.369" dur="3.84">a customer which costs money you also</text>
<text start="4824.709" dur="3.96">software engineers are extremely</text>
<text start="4826.209" dur="4.35">expensive and hard to find in so that</text>
<text start="4828.669" dur="3.93">costs money and they typically have</text>
<text start="4830.559" dur="3.48">subscription business models which means</text>
<text start="4832.599" dur="2.4">that you only collect a small amount of</text>
<text start="4834.039" dur="3.39">cash up front</text>
<text start="4834.999" dur="5.7">for example HubSpot like they pay I</text>
<text start="4837.429" dur="5.221">think two or three years of MRI which is</text>
<text start="4840.699" dur="5.311">monthly recurring revenue to acquire a</text>
<text start="4842.65" dur="5.009">customer that's a huge trough so when</text>
<text start="4846.01" dur="4.049">you're faced with a decision that's good</text>
<text start="4847.659" dur="5.4">in the long term but bad in the short</text>
<text start="4850.059" dur="5.94">term you can't take this path because</text>
<text start="4853.059" dur="4.11">you're going to go negative you can't do</text>
<text start="4855.999" dur="3.69">that because you don't have enough money</text>
<text start="4857.169" dur="5.131">so you have to think how am I going to</text>
<text start="4859.689" dur="4.111">counteract this trough now one way as</text>
<text start="4862.3" dur="2.939">you could raise capital you could use</text>
<text start="4863.8" dur="5.04">debt you could do all sorts of things</text>
<text start="4865.239" dur="10.65">but what I prefer to do is counteract a</text>
<text start="4868.84" dur="10.049">trough with an inverse curve so we do</text>
<text start="4875.889" dur="8.67">something like this right let's say this</text>
<text start="4878.889" dur="8.19">is option A and this one's option B now</text>
<text start="4884.559" dur="4.471">a classic example of this is consulting</text>
<text start="4887.079" dur="4.71">I tell people the best business to start</text>
<text start="4889.03" dur="5.73">is a consulting business why because it</text>
<text start="4891.789" dur="4.86">has this sort of curve to it in the</text>
<text start="4894.76" dur="2.939">short term you don't really incur much</text>
<text start="4896.649" dur="2.851">costs</text>
<text start="4897.699" dur="3.781">and you collect money upfront for</text>
<text start="4899.5" dur="4.83">services rendered which is just you so</text>
<text start="4901.48" dur="4.259">it's very good in the short term you you</text>
<text start="4904.33" dur="4.17">make a lot of money you don't have much</text>
<text start="4905.739" dur="4.921">cost and it's fast to get going but in</text>
<text start="4908.5" dur="3.75">the long term it goes like this because</text>
<text start="4910.66" dur="4.65">you can't scale because it's all based</text>
<text start="4912.25" dur="4.92">on you as a human and you can't scale</text>
<text start="4915.31" dur="4.53">well however in the world of software</text>
<text start="4917.17" dur="6.12">we're using bits not atoms and bits</text>
<text start="4919.84" dur="5.31">scale real well so then it's real bad in</text>
<text start="4923.29" dur="4.889">the short term but good in the long term</text>
<text start="4925.15" dur="5.58">right because it can scale so we've got</text>
<text start="4928.179" dur="5.161">these two inverse curves now what I like</text>
<text start="4930.73" dur="5.759">to do is counteract one with the other</text>
<text start="4933.34" dur="5.129">so start with consulting get some cash</text>
<text start="4936.489" dur="4.531">flow going that way and then maybe</text>
<text start="4938.469" dur="4.081">invest in a product based kind of</text>
<text start="4941.02" dur="3.03">business like come up with a course or</text>
<text start="4942.55" dur="3.57">come up with a SAS product or something</text>
<text start="4944.05" dur="5.879">and then you can counteract this curve</text>
<text start="4946.12" dur="8.07">to ultimately end up we want to go over</text>
<text start="4949.929" dur="6.181">the long term so that is some things</text>
<text start="4954.19" dur="5.34">about how to make some decisions right</text>
<text start="4956.11" dur="4.56">we've covered a lot and I'll just</text>
<text start="4959.53" dur="4.47">summarize it quickly</text>
<text start="4960.67" dur="6.299">part 1 reduce the load make things</text>
<text start="4964" dur="4.86">simple do less stuff say no to</text>
<text start="4966.969" dur="3.541">everything have a simple live flow</text>
<text start="4968.86" dur="3.81">meetings partner part to think</text>
<text start="4970.51" dur="4.56">critically don't follow what everyone</text>
<text start="4972.67" dur="4.68">else is doing take the time in the</text>
<text start="4975.07" dur="4.68">energy to do your own analysis and make</text>
<text start="4977.35" dur="4.11">your own decision and have conviction in</text>
<text start="4979.75" dur="3.39">your own judgment in your own analysis</text>
<text start="4981.46" dur="4.41">don't just copy everyone you'll never</text>
<text start="4983.14" dur="4.26">get anywhere doing that if you do what</text>
<text start="4985.87" dur="3.24">everyone doesn't think how everyone</text>
<text start="4987.4" dur="5.4">thinks then you will be like everyone</text>
<text start="4989.11" dur="6.81">else which is Everage right so to be</text>
<text start="4992.8" dur="5.879">abnormal we must do abnormal and that</text>
<text start="4995.92" dur="6.48">requires standing alone out of the crowd</text>
<text start="4998.679" dur="5.25">right now part 3 is apply mental models</text>
<text start="5002.4" dur="5.25">you want to build a collection of these</text>
<text start="5003.929" dur="7.351">and by no means is this an exhaustive</text>
<text start="5007.65" dur="5.19">list right I gave you some this is</text>
<text start="5011.28" dur="4.41">pretty sweet I wish someone gave me this</text>
<text start="5012.84" dur="4.29">mini and these are good ones when I got</text>
<text start="5015.69" dur="3.93">started but I had to learn the hard way</text>
<text start="5017.13" dur="6.81">and pick these up over 30 thousand hours</text>
<text start="5019.62" dur="6.03">so this is a good start and this is a</text>
<text start="5023.94" dur="4.739">lot better than how most people make</text>
<text start="5025.65" dur="4.41">decisions so hopefully this video will</text>
<text start="5028.679" dur="1.851">help you improve your life makes a</text>
<text start="5030.06" dur="3.11">minute</text>
<text start="5030.53" dur="4.95">and get more of what's good and less of</text>
<text start="5033.17" dur="4.86">what's bad so if you like this video</text>
<text start="5035.48" dur="4.29">click like also click Subscribe I</text>
<text start="5038.03" dur="4.05">release a video like this once a week on</text>
<text start="5039.77" dur="3.54">a Tuesday if you like this one you'll</text>
<text start="5042.08" dur="4.38">probably like the other ones so</text>
<text start="5043.31" dur="4.56">subscribe and then leave me something in</text>
<text start="5046.46" dur="4.71">the comments did this help you is</text>
<text start="5047.87" dur="5.37">anything unclear to you or what else do</text>
<text start="5051.17" dur="3.75">you want me to talk about right I look</text>
<text start="5053.24" dur="5.49">at the comments myself personally and</text>
<text start="5054.92" dur="6">the feedback you give it helps shape the</text>
<text start="5058.73" dur="5.25">future content I create on this channel</text>
<text start="5060.92" dur="5.04">so thanks for watching give me some</text>
<text start="5063.98" dur="5.03">feedback click subscribe click like and</text>
<text start="5065.96" dur="3.05">I'll see you next week</text>
</transcript>
</xml>
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