Besides being one of the wealthiest people alive and most prolific investors of our generation, Warren Buffet is revered for his intellect and manner in which he thinks, acts and behaves. This is illustrated perfectly below: Mike Flint had been Warren Buffett’s private plane pilot for 10 years. Flint made his name for flying for […]
Mental Model Chauffeur Knowledge | Charlie Munger explains in the story of Max Planck and his chauffeur: I frequently tell the apocryphal story about how Max Planck, after he won the Nobel Prize, went around Germany giving the same standard lecture on the new quantum mechanics. Over time, his chauffeur memorized the lecture and said, “Would […]
You are an idea machine, I get it. You discover new solutions to age-old problems and see opportunity everywhere. It seems that almost on a daily basis you’re inspired to build something new. This is a remarkable attribute and I truly believe we are lucky to have it. There is a problem with it however. […]
Mental Model Survivorship Bias | A form of selection bias where the survivors – or the illuminated data – of a particular subject are disproportionately evaluated. A commonly held belief is that machinery, equipment, and goods manufactured in previous generations often is better built and lasts longer than comparable items built during present times. You […]
It’s not how good you are… it’s how good you want to be Carol Dweck, a psychologist at Stanford University and the author of “Mindset: The New Psychology of Success“, studies human motivation. She spends her time trying to understand why some people succeed and why others don’t. Particularly, what’s within their control to foster […]
Mental Model Anchoring | The tendency to rely too much on an initial piece of information when making subsequent judgments. The cognitive bias of anchoring is closely related to availability heuristic since the mind anchors to what information is familiar. Trend Massage Gun | A consumer product that features an automated and electrically-powered massage head. […]