Manage episode 253112033 series 63692
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Unintended consequences often negate the good that a regulation or ruling in government is trying to do. In fact, often the problem that was supposed to be solved is simply magnified through the unintended consequences, and the same thing can be true for your life.
That is why I believe that entrepreneurs, and really everyone else as well, need to learn game theory, to understand the various ways in which their decisions will affect other people’s decisions, thereby potentially changing the outcome, and sometimes reversing the good you were trying to do with the decision in the first place.
Listen to this episode to learn more about game theory and how it can apply to the decisions you make.
Also, make sure to checkout the new Tai Lopez Flash Briefing on Alexa!
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Points to Keep In Mind
- A lot of regulations have unintended side effects that must be considered
- For every action, there is an equal and opposite reaction
- Humans have a desire to simplify complex topic to understand them, with the result often being that the wrong conclusion is reached
- Mother nature always laughs last
- Entrepreneurs need to understand game theory
- Always consider how your actions will be perceived by others, not just the immediate impact
- The current education system encourages students to pump information into their brain and then dump it out once they finish the test
- In the modern world, you need to be careful not to be overstimulated
- Spend at least a couple hours per day really thinking through what you’re doing in your life
- The human body is built to do HIIT: High Intensity Interval Training
- It’s always better to sell to the willing