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This blog is supported by Greenhaven Road Capital, finding value off the beaten path. My tallest reading hurdle is ignorance. Not willful, but present nonetheless. We all need a ledge to stand on and hoist ourselves up to new ideas. Podcast are great for this, so are YouTube videos. Daniel Kahneman’s Thinking Fast and Slow is an accessible, […]
Edit: this was drafted in late 2019. I loved the movie The Game. The premise was that for his birthday, Michael Douglas’s character was ‘attacked’ in a real life adventure. It was part thrill, part horror. I can’t even remember how much of it was real. ‘What is real’ is a common premise in my […]
One of the most important findings of behavioral psychology is Daniel Kahneman’s idea of WYSIATS, what you see is all there is. If something is salient, it’s important. If something is hidden, it may as well not exist. But this tendency comes in contact with any ‘easy’ choice, like what to eat. On the one hand […]
There’s a quarrel in psychology research over Linda the banker. First some background. Most behavioral psychology is about crafting nearly identical situations with nearly identical composites of people who, despite the near identity, act in different ways. One example is when employees are prompted with savings cues for their 401k. Imagine that with the annual […]
“When faced with a difficult question, we often answer an easier one instead, usually without noticing the substitution.” Daniel Kahneman We probably do this a lot more than we think. Consider how many decisions we face in a day, how many are automatic, and how many switches go unnoticed. It happens to everyone. In a recent post, Scott Alexander […]
Supported by Greenhaven Road Capital, finding value off the beaten path. Each year we do a brief recap, review, and emphasis on the Nudgestock conference hosted by Rory Sutherland and Ogilvy Change. Here are the notes from, 2018. Here is the post from 2019’s podcast recap. If someone wants more here’s the page of playlists. Rory […]
Supported by Greenhaven Road Capital, finding value off the beaten path. Bob Iger’s career began with a lucky break, “I came to ABC thanks to my uncle Bob’s bad eyesight,” and his coincidence in sharing a hospital room with a lower-level ABC executive. With a little more luck, a lot more hard work, and paying […]
Supported by Greenhaven Road Capital, finding value off the beaten path. The podcast with Bill Gurley and Patrick O’Shaughnessy about direct listings and initial public offerings was financially, technologically and psychologically interesting. I don’t know if Gurley’s emphasis is appropriate, but it’s clear what he needs to do, reframe the situation. Gurley and O’Shaughnessy expect that […]
Supported by Greenhaven Road Capital, finding value off the beaten path. Jerry Neumann again chatted with Patrick O’Shaughnessy on Invest Like the Best. Neuman is kind and curious and we’ve looked at some of his ideas already: He also turned us on to Rob Fitzpatrick, author of The Mom Test. Recently Neumann invested in Unsupervised […]
Supported by Greenhaven Road Capital, finding value off the beaten path. Martin Lindstrom was doing research for LEGO. He was a good choice because he loved LEGOs. As a kid, Lindstrom built a LEGO Land in his backyard. It was so popular that one day two – kind – IP lawyers showed up and asked […]
