0 saved
13.2K 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. Quo tandem modo? Quare, quoniam de primis naturae commodis satis dietum est nunc de maioribus consequentibusque videamus. Quae cum dixisset, finem ille. Quid enim de amicitia statueris utilitatis causa expetenda vides. Nec vero alia sunt quaerenda contra Carneadeam illam sententiam. Illa sunt similia: hebes acies est cuipiam oculorum, corpore alius senescit;
Duo Reges: constructio interrete. Nonne igitur tibi videntur, inquit, mala? Huic mori optimum esse propter desperationem sapientiae, illi propter spem vivere. Ergo opifex plus sibi proponet ad formarum quam civis excellens ad factorum pulchritudinem? An tu me de L. Septem autem illi non suo, sed populorum suffragio omnium nominati sunt. Hoc loco discipulos quaerere videtur, ut, qui asoti esse velint, philosophi ante fiant. In qua quid est boni praeter summam voluptatem, et eam sempiternam? Igitur neque stultorum quisquam beatus neque sapientium non beatus. Praeteritis, inquit, gaudeo.
Aliam vero vim voluptatis esse, aliam nihil dolendi, nisi valde pertinax fueris, concedas necesse est. Ita graviter et severe voluptatem secrevit a bono. Ut in geometria, prima si dederis, danda sunt omnia. Quid ei reliquisti, nisi te, quoquo modo loqueretur, intellegere, quid diceret? Quam tu ponis in verbis, ego positam in re putabam. Huius, Lyco, oratione locuples, rebus ipsis ielunior. Fortitudinis quaedam praecepta sunt ac paene leges, quae effeminari virum vetant in dolore. Cuius quidem, quoniam Stoicus fuit, sententia condemnata mihi videtur esse inanitas ista verborum. Videamus animi partes, quarum est conspectus illustrior; Eam tum adesse, cum dolor omnis absit;
- Use the Regret Minimisation Framework to challenge fears and doubts
This mental model helps you ...
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Sic enim censent, oportunitatis esse beate vivere. Tria genera bonorum; Sit hoc ultimum bonorum, quod nunc a me defenditur; Si quicquam extra virtutem habeatur in bonis. Hoc est non modo cor non habere, sed ne palatum quidem. Semper enim ita adsumit aliquid, ut ea, quae prima dederit, non deserat. Duo Reges: constructio interrete.
Atque his de rebus et splendida est eorum et illustris oratio. Age nunc isti doceant, vel tu potius quis enim ista melius? Apparet statim, quae sint officia, quae actiones. Id et fieri posse et saepe esse factum et ad voluptates percipiendas maxime pertinere. Aliter homines, aliter philosophos loqui putas oportere? Verba tu fingas et ea dicas, quae non sentias? Eadem nunc mea adversum te oratio est. Non laboro, inquit, de nomine. Paupertas si malum est, mendicus beatus esse nemo potest, quamvis sit sapiens. Ut aliquid scire se gaudeant?
Tu autem negas fortem esse quemquam posse, qui dolorem malum putet. Quod idem cum vestri faciant, non satis magnam tribuunt inventoribus gratiam. Quod ea non occurrentia fingunt, vincunt Aristonem; At quanta conantur! Mundum hunc omnem oppidum esse nostrum! Incendi igitur eos, qui audiunt, vides. Maximas vero virtutes iacere omnis necesse est voluptate dominante. Illa sunt similia: hebes acies est cuipiam oculorum, corpore alius senescit; Omnes enim iucundum motum, quo sensus hilaretur. Nam bonum ex quo appellatum sit, nescio, praepositum ex eo credo, quod praeponatur aliis. Qui enim voluptatem ipsam contemnunt, iis licet dicere se acupenserem maenae non anteponere.
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.