0 saved
13.3K 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. Aliud igitur esse censet gaudere, aliud non dolere. Duo Reges: constructio interrete. Et ille ridens: Video, inquit, quid agas; Paulum, cum regem Persem captum adduceret, eodem flumine invectio? Sin est etiam corpus, ista explanatio naturae nempe hoc effecerit, ut ea, quae ante explanationem tenebamus, relinquamus. At, illa, ut vobis placet, partem quandam tuetur, reliquam deserit. Audio equidem philosophi vocem, Epicure, sed quid tibi dicendum sit oblitus es. Fadio Gallo, cuius in testamento scriptum esset se ab eo rogatum ut omnis hereditas ad filiam perveniret.
Te enim iudicem aequum puto, modo quae dicat ille bene noris. Homines optimi non intellegunt totam rationem everti, si ita res se habeat. Si ad corpus pertinentibus, rationes tuas te video compensare cum istis doloribus, non memoriam corpore perceptarum voluptatum; Atqui, inquam, Cato, si istud optinueris, traducas me ad te totum licebit. At enim, qua in vita est aliquid mali, ea beata esse non potest. Maximas vero virtutes iacere omnis necesse est voluptate dominante.
Nunc haec primum fortasse audientis servire debemus. Sed ad haec, nisi molestum est, habeo quae velim. Conferam tecum, quam cuique verso rem subicias; Diodorus, eius auditor, adiungit ad honestatem vacuitatem doloris. Nunc haec primum fortasse audientis servire debemus. Mihi enim satis est, ipsis non satis. Nihil acciderat ei, quod nollet, nisi quod anulum, quo delectabatur, in mari abiecerat. Utrum igitur tibi litteram videor an totas paginas commovere?
- Use the Regret Minimisation Framework to challenge fears and doubts
This mental model helps you ...
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Qui autem de summo bono dissentit de tota philosophiae ratione dissentit. His singulis copiose responderi solet, sed quae perspicua sunt longa esse non debent. Sed id ne cogitari quidem potest quale sit, ut non repugnet ipsum sibi. Nihil minus, contraque illa hereditate dives ob eamque rem laetus. Duo Reges: constructio interrete. An hoc usque quaque, aliter in vita? Collige omnia, quae soletis: Praesidium amicorum. Intellegi quidem, ut propter aliam quampiam rem, verbi gratia propter voluptatem, nos amemus;
Hoc est dicere: Non reprehenderem asotos, si non essent asoti. Et hunc idem dico, inquieta sed ad virtutes et ad vitia nihil interesse. Honesta oratio, Socratica, Platonis etiam. Habent enim et bene longam et satis litigiosam disputationem. Nos commodius agimus. Ad corpus diceres pertinere-, sed ea, quae dixi, ad corpusne refers? Si verbum sequimur, primum longius verbum praepositum quam bonum. Effluit igitur voluptas corporis et prima quaeque avolat saepiusque relinquit causam paenitendi quam recordandi.
Quodcumque in mentem incideret, et quodcumque tamquam occurreret. Habent enim et bene longam et satis litigiosam disputationem. Non est ista, inquam, Piso, magna dissensio. Res enim fortasse verae, certe graves, non ita tractantur, ut debent, sed aliquanto minutius. Dulce amarum, leve asperum, prope longe, stare movere, quadratum rotundum. Sed haec ab Antiocho, familiari nostro, dicuntur multo melius et fortius, quam a Stasea dicebantur. Quicquid enim a sapientia proficiscitur, id continuo debet expletum esse omnibus suis partibus; Tamen aberramus a proposito, et, ne longius, prorsus, inquam, Piso, si ista mala sunt, placet. Nondum autem explanatum satis, erat, quid maxime natura vellet. Sin laboramus, quis est, qui alienae modum statuat industriae?
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.