I talk about Personal Growth, Management, Infrastructure and More | C-Suite Executive | Mentor, Coach, Strategic Consultant | Real Estate Investor | 👇JOIN +2k readers 👇
Which of these two options would you choose?
|
Daniel Kahneman, the author of Thinking, Fast and Slow, did an experiment. ​ He gave two options: ​ Would you accept a gamble that offers a 10% chance to win $95 and a 90% chance to lose $5? Or. Would you pay $5 to participate in a lottery that offers a 10% chance to win $100 and a 90% chance to win nothing? ​ Well… if you studied engineering, you have convinced yourself that the two problems are identical. ​ In both, you are either richer by $95 or poorer by $5. ​ But that’s engineering mindset… ​ No question why we take so long to find someone that can endure us. ​ The reality is that the second option attracts more people. ​ A bad outcome is much more acceptable if it is framed as the cost of a lottery ticket that did not win than if it is simply described as losing a gamble. ​ We should not be surprised: losses evoke stronger negative feelings than costs. ​ If you have no idea what I’m talking about, you should take a look to the book below. It will teach you to avoid gambles and call some costs, investments. ​
PD 1: If you liked this email, don't keep it in secret and forward it to a friend. They will thank you enormously one day. PD 2: If somebody has sent you this email and you want to receive emails like this yourself, visit vicentevalencia.com PD 3: If you want unsubscribe, click the link below. ​ ​ |
Vicente Valencia
I talk about Personal Growth, Management, Infrastructure and More | C-Suite Executive | Mentor, Coach, Strategic Consultant | Real Estate Investor | 👇JOIN +2k readers 👇
Some PPPs die before they start.Others collapse under the weight of construction. And then there are those that rot from within — strangled by their own KPI regime. Take the Peterborough Prison PPP in the UK.On paper, it was innovative: the first privately financed prison with a focus on rehabilitation. The government loved the concept. The innocent believers in human nature wet dreamt about it. The financiers lined up.The operator thought they could make it work… if not, they would still...
Humiliation can come in many ways. But probably, one of the most humiliating failures a government can suffer in a PPP is the silence. This happened in a mid-sized developed country of the Commonwealth just a few years ago. The government wanted a flagship social infrastructure project: a cluster of new courthouses and justice facilities, spread across regional cities. They framed it as transformational. A “once in a generation” opportunity. Ministers on stage, cameras rolling, the usual...
A couple of days ago I was invited to a podcast. One of the questions I was asked was… “What advice you have for entrepreneurs” Or that kind of question. But the answer was instantaneous. Do, do and do. Many are frozen. Other overwhelmed for all things they have to do. Others are lazy and procrastinators that use busyness to justify inaction. Others want perfection that is one of the worst procrastinators’ behaviours. And they don’t launch or try anything until perfect. And you know that...