Is it possible to build a $200 million media business with only two people? And with no initial investment? Well, Joe Rogan proved it is. He started his podcast with a webcam from his bedroom in 2009. 11 years, hundreds of episodes, and millions of views later, Spotify offered him an exclusive deal. He was…
Category: Decision-Making
Inverse Thinking: How to Make Better Decisions By Thinking In Reverse
Inverse thinking is a mental model that can help you make better decisions and solve complex problems. In this article, you’ll find a short story from US history to explain the idea. And how to use inverse thinking in business and life with examples. In 1907, the nightmare of every banker came true in the…
Uncertainty Matrix: How To Deal With Uncertainty (And Gain From It)
In early 2002, the Bush administration decided to invade Iraq. To put the plan into action, they started working on shaping public opinion. The main argument was Iraq’s “weapons of mass destruction.” But the press was not convinced. In one of the news briefings, journalists questioned Secretary of Defense Donald Rumsfeld about the lack of…
A Dinner With Elon Musk And The Power of Power Laws
Imagine a friend inviting you to dinner. He texts you: “I’m organizing a dinner with 8 people and the average net worth of attendees is $22 billion.” What would you think? Besides wondering when your friend met that many rich people, you’d expect to be the least wealthy among invitees. But you arrive at dinner and…
Force Field Analysis: Make Big Changes Easier (With Examples)
What is Force Field Analysis Force Field Analysis is a strategic analysis and decision-making method developed by Kurt Lewin. In this article, you’ll find two personal examples to see how you can use Force Field Analysis in your life. Every decision requires a change. Think about it. If you decide to gain muscle; you have…
Loss Aversion Bias: Why Most People Fail Before They Even Try
Loss aversion bias is a mental bias that causes people to make wrong decisions to avoid losses. Because the pain from losses is more powerful than the joy from gains. Let’s say you want to flip a coin with your friend. You offer him $300 if he wins the toss and ask for $200 if…
Association Bias & A Phony Paradise Of An Assassin Master
Association bias is when your mind takes the emotion you feel as a cue to build an opinion about a person, brand, or event. In this article, you’ll see how it becomes a fallacy with a story and how to avoid it. Imagine falling asleep and waking up in a garden. A garden full of beautiful women, musicians playing…
Thinking in Bets: How to Make Decisions Like a Poker Player
Thinking in bets is a decision-making framework developed by former professional poker player Annie Duke. In this article, you’ll find two real-life examples of how people —mistakenly— evaluate decisions based on their outcomes. Then, you’ll see why it’s wrong and how to take luck into consideration by thinking like a poker player. Bad decision, good…
Mental Model Examples (50+) That Will Make You More Successful
In this article, you’ll find more than 50 mental model examples that will make you understand the world and human nature better. So you can become more successful in business and life. What is a Mental Model? A mental model is your thought process to explain how something works. Think about it. Probably when you…
Commitment Bias: How To Avoid and Benefit From It
Why is ending a long relationship so hard?Even if you know it’s not good for you anymore, it’s still difficult to end it.The answer is commitment.Your friends know your partner, you have photos on Instagram together and you have shared how happy you were.So the imaginary stakes of a breakup are high.Because your mind tries to be consistent with your…