0 saved
12.2K views
What potential major life change simultaneously tempts and terrifies you? Got a startup idea you've been too scared to pursue? Want to cha ...
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Hoc dixerit potius Ennius: Nimium boni est, cui nihil est mali. In eo enim positum est id, quod dicimus esse expetendum. Bonum incolumis acies: misera caecitas. Et hunc idem dico, inquieta sed ad virtutes et ad vitia nihil interesse. Hic quoque suus est de summoque bono dissentiens dici vere Peripateticus non potest. Rationis enim perfectio est virtus; Quia, si mala sunt, is, qui erit in iis, beatus non erit. Nec vero sum nescius esse utilitatem in historia, non modo voluptatem. Duo Reges: constructio interrete.
Quid adiuvas? Hoc etsi multimodis reprehendi potest, tamen accipio, quod dant. Tu autem, si tibi illa probabantur, cur non propriis verbis ea tenebas? Prodest, inquit, mihi eo esse animo. Iubet igitur nos Pythius Apollo noscere nosmet ipsos. Nam quibus rebus efficiuntur voluptates, eae non sunt in potestate sapientis.
Ne tum quidem te respicies et cogitabis sibi quemque natum esse et suis voluptatibus? Haec igitur Epicuri non probo, inquam. Multa sunt dicta ab antiquis de contemnendis ac despiciendis rebus humanis; Tollitur beneficium, tollitur gratia, quae sunt vincla concordiae. Isto modo ne improbos quidem, si essent boni viri. Duae sunt enim res quoque, ne tu verba solum putes. Illis videtur, qui illud non dubitant bonum dicere -; Quid ergo aliud intellegetur nisi uti ne quae pars naturae neglegatur? Quantum Aristoxeni ingenium consumptum videmus in musicis? Te enim iudicem aequum puto, modo quae dicat ille bene noris. Voluptatem cum summum bonum diceret, primum in eo ipso parum vidit, deinde hoc quoque alienum; Hic quoque suus est de summoque bono dissentiens dici vere Peripateticus non potest.
- Use the Regret Minimisation Framework to challenge fears and doubts
This mental model helps you ...
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Deinde disputat, quod cuiusque generis animantium statui deceat extremum. Igitur ne dolorem quidem. Esse enim quam vellet iniquus iustus poterat inpune. Quod si ita sit, cur opera philosophiae sit danda nescio. Cuius similitudine perspecta in formarum specie ac dignitate transitum est ad honestatem dictorum atque factorum. Duo Reges: constructio interrete. Illi enim inter se dissentiunt. Piso igitur hoc modo, vir optimus tuique, ut scis, amantissimus.
Compensabatur, inquit, cum summis doloribus laetitia. Et nunc quidem quod eam tuetur, ut de vite potissimum loquar, est id extrinsecus; Sed vos squalidius, illorum vides quam niteat oratio. Deinde qui fit, ut ego nesciam, sciant omnes, quicumque Epicurei esse voluerunt? Qui ita affectus, beatum esse numquam probabis; Unum nescio, quo modo possit, si luxuriosus sit, finitas cupiditates habere. Nam quibus rebus efficiuntur voluptates, eae non sunt in potestate sapientis. Quae diligentissime contra Aristonem dicuntur a Chryippo.
Hoc enim constituto in philosophia constituta sunt omnia. Dici enim nihil potest verius. Restinguet citius, si ardentem acceperit. Atque haec ita iustitiae propria sunt, ut sint virtutum reliquarum communia. Idemque diviserunt naturam hominis in animum et corpus. Hanc quoque iucunditatem, si vis, transfer in animum; Restinguet citius, si ardentem acceperit.
The Regret Minimisation Framework tends to take an emotive approach to decision making that might lead people to take riskier actions than are advisable. At worst, when not used with other decision making considerations, it might be used to justify hasty or even reckless behaviour. To that point, rather than an considered decision making tool, it might be argued that this framework is more about helping to gain the courage and fortitude to commit to something significant that you know you want but are scared of doing.
Bezos starting Amazon
Bezos described how he left his well paying job and to start Amazon.
“The framework I found, which made the decision incredibly easy, was what I called — which only a nerd would call — a “regret minimisation framework. So I wanted to project myself forward to age 80 and say, “Okay, now I’m looking back on my life. I want to have minimized the number of regrets I have.
“I knew that when I was 80 I was not going to regret having tried this. I was not going to regret trying to participate in this thing called the Internet that I thought was going to be a really big deal. I knew that if I failed I wouldn’t regret that, but I knew the one thing I might regret is not ever having tried."
The regret minimisation framework is a decision-making approach that would ideally be combined with other decision making process.
Use the following examples of connected and complementary models to weave regret minimisation framework into your broader latticework of mental models. Alternatively, discover your own connections by exploring the category list above.
Connected models:
- High velocity decisions: other decision making tools from Bezos.
- Opportunity cost: the regret minimisation framework effectively asks you to ‘live into’ the opportunity cost of inaction.
Complementary models:
- Golden circle: using the framework might help connect with ‘why’.
- Ikigai: again, the framework might help get in touch with a happier life.
- Risk matrix: consider risks likelihood and impact.
This is a similar concept to the more recent ‘YOLO’, or you only live once’ approach to seizing opportunities.
The Regret Minimisation Framework was coined by Jeff Bezos, and described in Brian Christian’s Algorithms to Live By: The Computer Science of Human Decisions.
View a short video of Bezos talking about this framework.
My Notes
Oops, That’s Members’ Only!
Fortunately, it only costs US$5/month to Join ModelThinkers and access everything so that you can rapidly discover, learn, and apply the world’s most powerful ideas.
ModelThinkers membership at a glance:
“Yeah, we hate pop ups too. But we wanted to let you know that, with ModelThinkers, we’re making it easier for you to adapt, innovate and create value. We hope you’ll join us and the growing community of ModelThinkers today.”
You Might Also Like:
- Actionable summaries of the world's most powerful ideas.
Subscribe now and download this practical guide to transform your thinking, plus recieve one short, powerful and actionable idea in your inbox each month.