What is the Feynman Technique? The Feynman Technique is a teach-to-learn method that focuses on understanding. It helps to learn faster by forcing you to explain the topic in a simple way and make analogies with what you already know. Teachers teach, and students learn. That’s how it works in school. So we grow up…
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Luck Surface Area: How to Get Lucky In Life (Without Being Rich)
Luck surface area is a mental model that explains it’s possible to increase your chances to get lucky in life. If there was a magic potion that makes people lucky, it would be expensive. But people would still buy it. After all, everybody wants to get lucky. Now, since we don’t have such a potion, are there other…
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…
Smart Personal Goals Examples – How to Become More Successful
Can SMART personal goals help you to become more successful in life? I confess. I didn’t believe in goal-setting for a long time. After all, I’ve always forgotten to continue working on my New Year’s Resolutions by February every year. But after reading dozens of articles and books on success and execution and testing the…
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…
Personal SWOT Analysis: How To Analyze Your Life Like A CEO
What is Personal SWOT Analysis Personal SWOT Analysis is a framework to analyze your situation in life to make better long-term decisions. Think about it. You’re a one-person company. You have: And if your life resembles a company, it’d make sense to manage your life like a CEO, right? Of course. Now, executives use a…
Trade In The Modern Era: Information Arbitrage
In the old days, trade was hard. Imagine traveling from one city to another on horseback for days. Or sailing with your ship without seeing the land for months, eating the same dried food or fish every day. But it was also lucrative. Traders were buying goods cheaply in one city, and selling them for…
Hindsight Bias Meaning, Examples, and How to Avoid It
Hindsight bias is a fallacy where people feel they knew how things would turn out after the events occurred. Take yourself back to December 2019. A new decade is about to start. Who was expecting a pandemic that’d keep us under lockdown and change how we live for years? Who was expecting a war in…
Goodhart’s Law: Soviet Nail Factories & The Power of Incentives
The Soviet Union had a shortage of nails during Lenin’s time. To increase production, his government started giving bonuses to the factories for the number of nails they produce. After hearing about the bonus, the factories reduced the size of the nails to produce as many nails as possible. In the end, they met the targets and…