A big thank you to everyone who pointed out that the two cliparts were mixed. I added annotations, but the sad guy is supposed to be next to "10% chance die" and the happier guy is supposed to be next to "90% chance live." Thanks again, and sorry about that! :) Get any FREE audiobook of your choice here: audibletrial.com/fightmediocrity If you want a suggestion for the free audiobook or for reading a book, here's FightMediocrity beginner's reading list: 1. Rich Dad Poor Dad: amzn.to/1VLAklY 2. The 4-Hour Workweek: amzn.to/1Qn5DA5 3. How to Win Friends and Influence People: amzn.to/1VLAoCe 4. The 48 Laws of Power: amzn.to/1VLAoSK 5. The Way of the Superior Man: amzn.to/1Qn5EDZ 6. Man's Search for Meaning: amzn.to/1Qn5GM0 7. Mastery: amzn.to/1VLArOu 8. Mindfulness for Beginners: amzn.to/1VLAs4S 9. The Obstacle is the Way: amzn.to/1VLAslw
@straq25429 жыл бұрын
+FightMediocrity I like imagining that the fellow on top is revelling in the danger of possible death, and the fellow on the bottom is distraught about how likely it is that he will survive hehe
@straq25429 жыл бұрын
+Straq Although, depression is serious business and shouldn't be joked about so please, if anyone is suffering, message me
@Agnostic0808 жыл бұрын
+FightMediocrity Oh, I didn't noticed he is sad.
@sweetasflip8 жыл бұрын
I really enjoyed your videos, especially this one. Can you tell me which kinds of careers this will apply
@KDD88 жыл бұрын
+FightMediocrity Where do these videos get animated?
@rafabmiranda6 жыл бұрын
Main Ideas in Thinking Fast and Slow: 1) There are 2 "thinking systems" in our minds. The first is fast, automatic. The second is slow, logical. 2) Anchoring: when you lack sufficient data to guess the value of something, you tend to hover around a pre-offered number. 3) Availability: a sort of confirmation bias. We tend to believe unlikely things have a high chance of happening because we keep looking at news/media portraying them. 4) Loss Aversion: if they have to risk, humans prefer not losing to winning. 5) Framing: How you present a situation affects your interpretation and feelings. Essentialy looking at the glass half empty or half full. 6) Sunk Costs: people believe because they've already spent money/time on something, they might as well see it through or continue. That is a mistake. Past events can't determine your future course of action.
@mcnuggetsferg16855 жыл бұрын
Jheez, use a spoiler tag next time, some of us haven't seen the video yet...
@toituxu7495 жыл бұрын
thanks alot bro
@jbrains5 жыл бұрын
I would add two more key points to this summary: 1. People are willing to risk more when losses seem guaranteed and risk less to preserve an apparent gain. This combines framing and loss aversion in a very important way. 2. Despite the illogical nature of System 1, it has orders of magnitude more power than System 2, so rather than try to ignore or inhibit System 1, we should understand its limitations so that we know how to tap its power more safely.
@todorokiyosukedesu5 жыл бұрын
thanks
@patrickg70685 жыл бұрын
Had to watch this for homework. Thanks for simplifying the notes!
@marsdwarf4 жыл бұрын
One of the reasons I like this channel is the creator not only summarizes the book but also describes how it can be applied to one's life. Keep 'em coming!
@leondufeu29818 жыл бұрын
"...and the lion eats your kid. So you go home, and you're sad, but it's okay, you get your wife pregnant" chill
@2shabbs7 жыл бұрын
Perhaps emotional attachment is a new arrival in the human animal?
@mohamedhosini21037 жыл бұрын
😂😂😂
@FowlManor7 жыл бұрын
Until the end of the 19th century children in Denmark weren't counted as "living" untiol they'd survived their first five or so years, due to the number of child deaths. Just a historical fact.
@KcB0mb7 жыл бұрын
Leon du Feu LMAO!!!!!😂😂😂
@demonicstargamer85497 жыл бұрын
Leon du Feu When the cave men get women laid af !
@MirzaBorogovac8 жыл бұрын
One reason for loss aversion is diminished marginal utility. Losing a 1000 might put a serious dent in persons budget maybe even causing that person to miss payment on important bills which would then cause other financial losses down the line. Winning 1100 on the other hand would only slightly improve person's life.
@duffelbagdustin99448 жыл бұрын
absolutely. well put.
@andrewmccullough5597 жыл бұрын
It also depends on how many times you can play the game. If you can play as many times as you want, or at least a sufficiently large number of times, not only can you increase your total expected earnings ($100/game), you also reduce your chance of coming out in the negative at all. Your chance of coming out in the negative is 50% if you can only play once, but if you play 100 times you have a 69% chance of coming out ahead (that's your chance of winning at least 48 times). Or if a 31% chance of losing money is too high, if you could play 1000 times your chance of coming out in the red is only 7% - and, of course, your expected value is way higher.
@daud73857 жыл бұрын
Andrew, just a note, the expected earnings are $50/game.
@andrewmccullough5597 жыл бұрын
Right, good point.
@NJHA916 жыл бұрын
True. one way to change it would be to give them 1000 dollars and tell them they can keep it or they can flip a coin for double or nothing.
@bonyourscreen8 жыл бұрын
I tried everything, but my kid keeps dying, pls help!
@sumsar018 жыл бұрын
+B on your Screen - CSGO Pro tip. Don't get more. Then they wont die.
@ThinkAbstract8 жыл бұрын
Tell him to RUSH B NO STOP BLYAT.
@9999Mihas8 жыл бұрын
fix your hormones, its all about it, not about this bullshit in books
@navinr89287 жыл бұрын
B on your Screen - CSGO
@hybby7 жыл бұрын
Keep spawning more broodlings!!
@Officialcbr9 жыл бұрын
I'm so in love with your videos it's ridiculous. I get withdrawal symptoms while waiting for your next upload.
@FightMediocrity9 жыл бұрын
Ciaran Cristian Brooke Russell :)))))))))
@eliazulay4u8 жыл бұрын
+FightMediocrity hi man thanks for the value....is there a mail adress I can mail you at? have an opportunity I would like to diacuss with you that can add value to both of us. good day.
@TeribleTony7 жыл бұрын
Tiantaoh@gmail.com
@carotbaby31278 жыл бұрын
I have no idea how I found your channel but im so glad I did, I love it so much, just subscribed, last year I found out about self help and self help books and I fell in love, they have helped my personal development so much, im currently reading 7 habits of high effective people and I love it, thank you so much for all these videos
@robertogerardi70403 жыл бұрын
Thanks! Timestamps: 1. Understanding System I and System II, and when to use each - 1:50 2. Anchoring - Leading you to believe/ set your mind to base your thinking on - 3:02 3. The Science of Availability - Don't be influenced by biased / limited sources of information by the time to draw conclusions - 4:36 4. Loss Aversion - Fear of loosing is larger than gaining when faced with options, i.e., investments - Use that to persuade people to make good decisions by focusing your argument on what they are likely to loose, rather than earn/gain - 5:58 5. Framing - A Dr saying you have 10% chances of dying is the same as if she said you have 90% chances of living. The emotional effects are going to be largely different. How can that concept be used to influence people? - 7:10 6. Sunk Cost Fallacy - Don't let your past decisions affect/influence on what's actually good for you now - 7:34
@pouncingmonkey7 жыл бұрын
Good stuff. Something Ive always said that is a 'sunk cost'. Forcing yourself to finish food. Its not even just about waste because you end up paying for displeasure.
@sharenraphael96378 жыл бұрын
That! my friend, was the best I've watched! from the content to the clip-arts... EVERYTHING!
@rentabledwarf5788 жыл бұрын
Thanks for the video, now I can take over the world.
@waynedonoghue40713 жыл бұрын
How did it go?
@zer0edgy9523 жыл бұрын
How is it going?
@shortfunnyvideos92743 жыл бұрын
Did system 1 say it, but system 2 never got around to it?
@shawondutta78813 жыл бұрын
He renamed himself as Covid-19
@zer0edgy9523 жыл бұрын
@@shawondutta7881 xd
@ChakraWielder8 жыл бұрын
Absolutely love your channel man. I have read a few of the books you review and would like to read more but I find myself prioritising my time away from reading these days, also I find my concentration span is much diminished. Having these little overviews is therefore really awesome. Also gives me a better idea of whether I'll enjoy the book and if it will resonate with me. Keep up the great work.
@jordankelly29607 жыл бұрын
I've been learning about the sunk cost fallacy but I never knew there was a term for it. I've been learning about it in regards to minimalism because learning about sunk cost fallacy has helped to realize how to let go of things so I can minimize my possessions and simplify my life so I only have things that serve me, or bring me joy. it's been very freeing, it was great learning it was an actual term. thank you for helping teach your viewers. I love your videos :) I found you yesterday and subscribed after I watch 10 or more videos lol. thanks for the great content!
@furiousgtz9 жыл бұрын
I started reading this book. This helps me set a basic outline. Thanks for the vide!
@caesarlandoco75268 жыл бұрын
The best thing you do is explaining your ideas to the real world. So many channels do not do this, and it makes the 10 minutes watching their video a complete waste of time. Thank you so much for doing this.
@ChristophJMarti8 жыл бұрын
I started reading this book months back but never finished it. Its dry and boring but the content is excellent. However, the points described in your video are great and accurately reflect the major ideas (at lease for the chapters I read). Thanks for that so much, its great how much value (in term of return on time invested) you give to the people here. High quality work again. You are doing a great job. Highly valuable, thanks !!
@ShallExplore6 жыл бұрын
Great message from the book and thanks to one of the greatest messengers on KZfaq!
@BillyReedMusic7 жыл бұрын
You got soooooo much more out of this book than I did. I just read it a few days ago, and I only understood about 10%. Or rather, I missed out on 90% of the content!! I'll need to read it again, thanks for the great summary!!
@uzouma9893 Жыл бұрын
so basically you read and don't understand.
@manasj.narvekar7945 Жыл бұрын
@@uzouma9893 yeah, that's what happened probably..
@RabbitLLLord3 ай бұрын
@@manasj.narvekar7945you don’t need to agree with him. You read in the very least
@ultimathule36915 жыл бұрын
I had to read this book 3 times just to absorb everytning properly. You have summarized it very well & saved alot of people the pain. Thumbs up!!👍
@utkarshdeep8 жыл бұрын
Very well explained in simple way. Appreciate the effort. Thank you. Looking forward to more stuff.
@wenyeh64967 жыл бұрын
I just LOVE the way you presents the book. ❤️
@imagepower59038 жыл бұрын
Love these videos giving a gist of the most useful books.
@thevividbookmark12353 жыл бұрын
kzfaq.info/get/bejne/htipgZiqqaeugmQ.html
@BizarreAvenir9 жыл бұрын
I'm studying economics/business at a German university, currently in my 3rd semester. Profs mentioned this book in several classes like management or marketing. cool that you put up a video about it. Good job! Just wanted to hear 7 habits of highly effective people because it's been a year since I read it and saw this video :) keep up the good work! I subscribed
@johnwage9 жыл бұрын
Great video!! :) Very informative & great examples! I'm also happy to see Jen there!!
@othmane-mezian2 жыл бұрын
I personally wish success and happiness for you and anyone reading this! You WILL overcome your tribulations by remaining that GREAT person that you are! I KNOW it! Just keep going.
@enjoylife65162 жыл бұрын
same to you❤❤ Wish you lots of happy days🎉🎉
@SixtyGelu8 жыл бұрын
TFAS is one of my favourite books. This video condenses the core points into an easy to understand format. Definitely subscribed!
@franzdelrosario3412 жыл бұрын
Hi, I'm planning to buy this book. Should I buy one even though I already watch the summary??
@davidctle9 жыл бұрын
Great representation of the book! I've read the first few chapters of the book and have been putting it off, but this review definitely sparked my interest in it again. Thanks!
@FightMediocrity9 жыл бұрын
David Le Awesome! :)
@harryman119 жыл бұрын
This is a great summary, I have about 1/4 of the book left. Would highly recommend a listen or a read the whole thing though its a good book. While you may not be able to change your behavior but at least you know when you may not be so logical.
@FightMediocrity9 жыл бұрын
harryman11 Yeah, behavioral economics really opens up your mind to how crazy and ridiculous some of our behaviors are :)
@BecomingAlpha19 жыл бұрын
You have to read this book about 50x to take in all the information, before this I never knew how many biases we actually operate by. But even knowing their existence makes it so much easier to make clearer decisions because now you can stop and ask yourself which of your systems is really making the decision. I wonder if in a few million years, if we make it as a species, we'll have more systems or complete control of our existing ones. Great video as always dude!
@FightMediocrity9 жыл бұрын
Becoming Alpha Hahaha, I know right? It's super dense, it's like taking the entire field of behavioral economics and trying to shove it into a single book :))
@feyolopez47123 жыл бұрын
Thanks no wonder I couldn't understand
@roroll4492 Жыл бұрын
The summary is great and digestible but reading your comment made me rethink if I should buy the book. Hahaha
@abhiruplahiri10984 жыл бұрын
I read this book many years back in 2014, and at that time I was working for my uncle, doing a consulting job...I told my uncle about what I had read and how interesting it would be to apply what I had learnt, and my uncle said, and I quote: " What you can learn by doing can't be replaced by a few arcane , esoteric and fancy jargon, meant for academics who deceive themselves into believing that they have some incisive insight into how people think, believe and determine. Business isn't complicated and marketing certainly isn't". What he meant to say was that what instinct can achieve , knowledge can never match, unless of course people design things with the sole intention of satisfying their egos. I am in academia now, just another opportunity to get a receipt for hard work, but some of the best professors I have won't even be hired by God to spread the gospel. Lesson: Never be bogged down by theory; experiment and find out for yourselves. Theories aren't immutable.
@gabi68982 жыл бұрын
Yup, and throughout history it turned out humans were more wrong than not about everything.
@NikVilluri9 жыл бұрын
I simply love your animation and the lucid manner of explaining ideas! Cheers!
@mayank89607 жыл бұрын
this is quite interesting the way you explained the concepts ! I really appreciate your work 👏 post more videos as often as you can !
@AlxSm1th7 жыл бұрын
its so fucking cool that i've watched this guy since he had about 80k subs. Grats man.
@yehudahamaccabi94209 жыл бұрын
GREAT GREAT GREAT VIDEO! You presented a lot of useful information!
@FightMediocrity9 жыл бұрын
Yehuda HaMaccabi Thank you!! :) I get something positive from you on every video! :)
@yehudahamaccabi94209 жыл бұрын
FightMediocrity Thank you for your reply. You do such an awesome job on every video!
@davideminicelli13548 жыл бұрын
+Yehuda HaMaccabi I'll stop this before you two get stuck into a loop
@yehudahamaccabi94208 жыл бұрын
Davide Minicelli Thank you for your reply and assistance.
@klaymoon1 Жыл бұрын
Great summary of Thinking, Fast and Slow. I find your summary and illustration more entertaining than some. Subscribed!
@elgato497 жыл бұрын
Thank you for this video. I can see myself watching it over and over till the ideas stuck in my head
@neilmcintosh51508 жыл бұрын
I've used Kahneman's “peak-end rule theory” in the dating game with incredible success. So I meet women on a date and I'm not much of conversationist. So It's no surprise that these woman are bored out of their mind because they don't find me interesting, I get nervous and don't know what to say. Now here comes the interesting part: I always make sure at the very end of the date to create a pleasurable and memorable experience, and the way I do that is by simply hugging them goodbye, giving them a little kiss and telling them I can't wait to see them again. And by god does this work, it doesn't matter how bad the duration of the date went because the women always remember how it ended. It builds confidence and sexual attraction and the women can't wait to hear from me again!
@goehz996 жыл бұрын
Neil McIntosh true
@christianschwalbach75616 жыл бұрын
Last impressions stick. I usually due the opposite. I do well conversational ly but I don't really "close" well
@manisanj98956 жыл бұрын
Neil this is a great example of showing the abstract concepts of these great books such as by Kahneman and show how this concept work in the real life, in fact, I copied and paste your concept into my research, in the real issues that people are encountering, this is can be a book, applying all these great Heuristic rules on the real-life situation and see if it works or how can be the tweak for your particular situation or context and make it work and write about it. Then people will truly get these concepts, and how to apply these in the real-life situations and document it and this way these concepts burns into your neuron network of their brain firmware.
@leox37835 жыл бұрын
Nice
@rutvin87634 жыл бұрын
Lolwut? In the first place, why would they be receptive to your advances at the end of the date if you have badly tanked most of the date?
@osgrotescos9 жыл бұрын
Thank you for the video! I tried to read but stopped because is pretty long and complicated. I love your videos! Great work #brazil
@FightMediocrity9 жыл бұрын
Victor Valezim Haha, thanks Victor! :)
@danieloshiro20286 жыл бұрын
#Brasil
@lots30278 жыл бұрын
I love this video. Thank you so much for making this. It helped me alot with my book report!
@stephenlau00078 жыл бұрын
Your ability to summaries things are exceptionally good!
@rdoetjes9 жыл бұрын
The tree height is not anchoring but priming! You prime group one with a high number and thus their mind is "primed" to pick a higher number and vice versa. Anchoring is when you create a hook to a certain memory. For example if you make a joke and the punch line is you in a red dress. You only have to say red dress and the people that were their remember that situation where it first occurred and often even associate their feelings at that time with it. Exactly (a bit further on) the price of a Microwave is a form of anchoring. When you looked it up it's stored somewhere, seeing a microwave and a combination of price is an anchor to that piece of information of $199.
@chanpreetsingh30415 жыл бұрын
Well, that is not the case. Priming effect is somewhat different than anchoring. Say, for example, that instead of the 1200, you are given an anchor of a 100,000. Of course, your(or literally anyone's) answer would be anywhere near that. Not even 10k. Statistics shows, that in this case, the mean would be even lower than 700ft. It's about the effect that the anchor has on you. 1200ft, to an uninformed person, doesn't seem out of the context- it doesn't engages system 2 that well as your system 1 believes that yes, 1200 might be true. But when a no as large as a 100000 appears, your system 1 rejects it straight away., engaging your system 2 more heavily, and hence you come up with a more reasonable no. :700ft. So, if priming was the effect, of course a prime of 100000 would not give you an average of 90k or something, but if a 1200 gives 844, then the 100000 should have given somewhere around the 2k-ish mark, which isn't what happens.
@thevividbookmark12353 жыл бұрын
kzfaq.info/get/bejne/htipgZiqqaeugmQ.html
@dirtymartini278 жыл бұрын
your videos are all reshaping my thinking, I like to watch something on your channel in the mornings with coffee - no donuts although I have a box of donuts that cost me $$. They are not good for me :)
@karthik24kasula7 жыл бұрын
I love you videos, The way you explain, The way you summarize with good examples. I appreciate your efforts. Hoping to see a lot of good videos in future.
@aliasgharmehdizadeh49248 жыл бұрын
Thanks a lot. So informative and helpful! Your short video helped me to understand a number of difficult concepts.
@Seanecash8 жыл бұрын
I didn't know Napolean Dynamite was making videos now... Go Pedro!.....
@MarcialRojo9 жыл бұрын
Great review! Thanks so much. By the way, could you share with me what authoring tools you use to produce this amazing videos?
@FightMediocrity9 жыл бұрын
Marcial Rojo Thanks, and it's called VideoScribe :)
@madmags139 жыл бұрын
Thank you for choosing this book. I am humbled and I feel that I have been made aware of important things by your presentation. Definitely giving the book a try, thanks and please, more eye-opening content yo!
@Giatros899 жыл бұрын
Just saw two of your videos. Great stuff. Earned my subscription!
@iSarCasm8659 жыл бұрын
Haha, just threw away a lot of useless stuff and then i saw this video. Well done. Great video!
@FightMediocrity9 жыл бұрын
iSarCasm865 Haha, that's awesome! And thank you! :)
@Scintillius9 жыл бұрын
my parents are addicted to the news. but its crazy to me because it always upsets them and they go on about all the negative things going on in the world, and i just wonder why even watch in the first place? sometimes i tell them that and they're like 'yeah i know' and change the channel but end up back there after 10 minutes lol
@FightMediocrity9 жыл бұрын
Strych Nine Yeah, the whole "what is this world headed to" thing is so annoying :))
@alejandroroque16668 жыл бұрын
Thank you for all your videos. it's very useful and informative. may you continue to share your thoughts and ideas to people. Alessandro
@ahmadraihan3277 жыл бұрын
it really is alike from the book "why smart people make big money mistake" by Gary Belsky
@ardianxh7 жыл бұрын
please when u write feet, can u like ( meters also ) ? we in the rest of the world use meters :P
@eyobdereje1594 жыл бұрын
goal.com
@sharoothsprakash19534 жыл бұрын
Ikr
@rutvin87634 жыл бұрын
start using feet then
@sahil-06-114 жыл бұрын
I use both 😝
@thevividbookmark12353 жыл бұрын
kzfaq.info/get/bejne/htipgZiqqaeugmQ.html
@pyroneph8 жыл бұрын
Your videos are well made and they have so much value to me!
@samuelstroh86318 жыл бұрын
Your channel is amazing, i love it, thank you for the mesaage, i really needed it :)
@GabrielSeyOfficial8 жыл бұрын
You're vids are awesome. 👌🏾
@BadassBobY2 жыл бұрын
Ikr
@jaylingardner11722 жыл бұрын
No
@jaylingardner11722 жыл бұрын
THERE AMAZING
@itsgabr82 жыл бұрын
Your comments are awesome. 👍
@claudews5299 жыл бұрын
Another great opportunity to look in the mirror... and see what is. Thank you for your review that is, as usual, enjoyably straight forward and mind opening. :) Keep it coming. Regards.
@FightMediocrity9 жыл бұрын
Claude Nadon Haha, thanks so much!
@musicismysaviour22yearsago8 жыл бұрын
great videos dude just found about you yesterday and they have taught me a lot ,really helpful thank you;
@PramodKumar-cf3tr8 жыл бұрын
Your videos are so good. It learnt so much in less time. Keep up the good work.
@TipoQueTocaelPiano9 жыл бұрын
6:50 "There is a 10% chance you are going to die" No, there is a 100% chance you are going to die.
@thomasfrenette50108 жыл бұрын
+ThumperOne You dont understand humour I guess ahah
@sugamtyagi91448 жыл бұрын
+Citriano Torres But, but there's a 0% chance, you are going to live.
@hybby7 жыл бұрын
Not necessarily 100% anymore. :)
@thevividbookmark12353 жыл бұрын
kzfaq.info/get/bejne/htipgZiqqaeugmQ.html
@The3nlightened0ne8 жыл бұрын
My fav book; it changed so much of my thinking
@TzoHill8 жыл бұрын
+Mr. Ding can you briefly elaborate more on how it did please? im thinking to read very soon
@akshatawagh87115 жыл бұрын
Is your dp of jake ?
@rosspirsig8 жыл бұрын
Great summary, and awesome golden nuggets of knowledge!! Thank you!
@TheStockDayTrader9 жыл бұрын
You are the best!! Thanks for the video! Keep up the great work
@FightMediocrity9 жыл бұрын
Mike Jones Thanks Mike! :)
@JoelAtico7 жыл бұрын
its similar to the book titled: "the art of thinking clearly" by rolf dobelli
@feyolopez47123 жыл бұрын
Thank you👍!
@bwing4118 жыл бұрын
I think his voice and style of video making is going to catch on. I could listen to him talk about anything
@MyMostBeautifuCinema8 жыл бұрын
+bryce e Ditto, I wonder if he took any voice and/or speech training classes, the flow and variation of his speech work magically together, especially for this type of material.
@Seanecash8 жыл бұрын
+bryce e Yeah, Napolean Dynamite is awesome!!.........
@NehalDeshpande8 жыл бұрын
+Andrew Safabakhsh so true
@rutvin87634 жыл бұрын
@@MyMostBeautifuCinema lol there're some things called scripts and cues
@thevividbookmark12353 жыл бұрын
kzfaq.info/get/bejne/htipgZiqqaeugmQ.html
@rikuniro8 жыл бұрын
amazing! first video of yours I watch and immediately subscribed
@_Louch_8 жыл бұрын
perfect , really hit the nail on the head keep it running.
@seamew21084 жыл бұрын
If you asked me about heighth of anything in feet, I'd ask how much is that in meters?
@michelsennett53759 жыл бұрын
You are a voracious reader! I was too a bit turned off as a kid from reading because my mom read voraciously.. romance novels! And not much got done around the house including quality time! Don't do media so much because not only is it like Bugs Bunny's eaction after being poisoned by the witch, it is more advice and celebrity gossip. My folks think that gambling is pure fun; I'd rather 'gamble' with investment funds. Thanks again my KZfaq friend!
@FightMediocrity9 жыл бұрын
Michel Sennett Hahaha, thanks for writing Michel! :)
@rominhawk39495 жыл бұрын
Thank you "FightMediocrity". Always awesome topics and presentations. I see in the comments that you've brought out the funny out of some people; but, that is just the way of man kind.
@dilianakarailieva65395 жыл бұрын
thank you - this is a wonderful summary of a long and rich text
@Suplexmaschine8 жыл бұрын
Hang on there, hang on there... a VERY important detail is missed most of the time with that "coin game" (for ex. winning 1100€ or losing 1000€). *It also depends on how much money you got!* A Millionaire can play this game 1000x but if you only have 1000€ left and you need it to pay your bills (for ex. the bill for your house or you'll be kicked out) it is very dumb to play that. If you win, great, you gained 100€. But if you lose u not only lost 1000€, you have a whole loota trouble now. So to sum up: To play this game to your advantage you need enough money so that you can afford to lose it.
@Thenoob5798 жыл бұрын
+Suplexmaschine Does you win 1000/1100 means you win 1000/1100? Normally, you don't minus the "entrance fee" from your winnings.
@andrewmccullough5597 жыл бұрын
Actually you don't need to be a millionaire as long as you can play a large number of times, and without having to put up the money on each loss. In other words, if you could run a credit and play 1000 times, your expected earnings is $100/game x 1000 games = $100,000, but more importantly, if you have bills to pay, is that you reduce your chance of coming out in the negative at all to a mere 7% (according to the binomial equation).
@Suplexmaschine7 жыл бұрын
I didn't say you have to be a Millionaire to play it, I just used it as an example.
@andrewmccullough5597 жыл бұрын
You say at the very end that "you need enough money so that you can afford to lose it." But that's not true: you could play with zero money to start, zero money to lose, and still cut the odds of losing anything to almost zero, if you could play enough times.
@Suplexmaschine7 жыл бұрын
?? Lets say you start your first game: Winning 1100 or Losing 1000. In that first game you lose 1000$. You don't have 1000$? Congratulations! You are now in big trouble. Ofc you can't play that game again. To let the odds work for you, you have to have some start capital because it's very possible to lose the first 3 times for example. That means in that scenario you have to have 3000$ (+1000$ for the next game) or otherwise you can't keep on playing.
@Captain_MonsterFart8 жыл бұрын
My name really is Jen and i bought Halloween candy this week and no kids came to my house. I have been wondering what the hell to do with it now. Funny.
@periodictech42488 жыл бұрын
give it away...celebrate ur separate holloween..
@sajidahputri8088 жыл бұрын
I really love your videos and your voice. Will be waiting for more great animated book review! :D
@deathnotehindidubbed13755 жыл бұрын
*This is probably the best mind opener and knowledgeful video i have ever seen in my life*
@SHITHAPPENSLIKABOSS4 жыл бұрын
imagine if u actually read the book bro
@ryanbratton91138 жыл бұрын
Throwing that chair away right now Keeping the candy though
@nobinobita13707 жыл бұрын
XD
@eyobdereje1594 жыл бұрын
goal.com
@thevividbookmark12353 жыл бұрын
kzfaq.info/get/bejne/htipgZiqqaeugmQ.html
@coopercolt7 жыл бұрын
1:12 e-rational and e-logical. Must be new Apple products
@markmesias96602 жыл бұрын
This is an excellent summary! Thank you; this is very helpful.
@FelipeSilva-bq1ur9 жыл бұрын
Just found out about your channel. Great stuff!! Keep doing what you're doing. You choose your words in such a way that makes it easy for us to understand this things that, in reality, we should already be doing! Sorry for my english. Not my native tongue, i'm from Brazil
@abcd1239064 жыл бұрын
Big idea 1: System 1 (knee jerk, instinctual) vs System 2 (methodical, logical, deliberate) thinking Big idea 2: Anchoring Big idea 3: Science of Availability (availability bias) Big idea 4: Loss Aversion Big idea 5: Framing Big idea 6: Sunk Costs
@Jessica-gw9cf8 жыл бұрын
Thank you, loved this!
@sambodhiambhore53832 жыл бұрын
Absolutely love your voice and narration style.!
@manuelortmann4 жыл бұрын
In a nutshell: Darwin wins over Kant
@rutvin87634 жыл бұрын
uhhh...no.
@barryirlandi42178 жыл бұрын
I'm unsubscribing from Vice news...
@suziesmith90764 ай бұрын
Why?
@oleksandrkozhanov36 жыл бұрын
Many thanks to author and the whole FightMediocrity team! The way of book overviewing is terrifically clear to catch and make feeling afterwards as if you've just read a book.
@LuisBreak6 жыл бұрын
Man, I am simply getting addicted to your videos. Thank a lot for provide some great value to subscribers. Would you mind sharing what is the tool you use to make your videos. Thank again and keep up this great work. Cheers
@xAnonymousComedia7 жыл бұрын
I wouldn't play the flip coin game even if it was for a million dollar.
@aridivina8 жыл бұрын
“You get your wife pregnant?" What If I am a woman watching this video? Do I need to pretend I am a man for 10 min or continue to be a woman and I just imagine what is to wait around for my husband to come back with awesome news?
@Esperanza_1213 ай бұрын
The vidéo is good but the statement get your wife pregnante bothered me
@kennetdinho17 жыл бұрын
this is certainly amongst the top 3 most relevant channels on KZfaq 👏👏👏👍
@boojay70764 жыл бұрын
Really great ideas, I subscribed !!!
@2shabbs7 жыл бұрын
Stopped practicing Christianity several months ago, still have all these book shelves full of Christian propaganda. I know I can't recoup the cost... bleh...
@hybby7 жыл бұрын
Donate those books. Or sell them. Either way, it clears your shelves for better books.
@bimoantonio92828 жыл бұрын
Thank you for the knowledge that you give me. it was wonderful, to get an insight for a better life :) plus i will subscribe your channel for sure!
@AC-lh9px5 жыл бұрын
Thank you for this video! saved me a lot of time
@muhaali13498 жыл бұрын
I thank you a lot FightMediocrity for changing my life with this many Book review, i wish you big
@salwainde53646 жыл бұрын
You're review is over the top...Thank you for your efforts ^-^
@DeeNCee.76768 жыл бұрын
already one of my favorite books! good summary!
@NinjaElephant7 жыл бұрын
There are so many fallacies and biases in this book and they are wonderfully explained, I can recommend this book to everyone! Helped my to explain human behavior and my decision just so much better. Regression to the mean was one of the more Important ones that didn't make it to the video but is just so important if you want to understand training.
@SuttaReadings3 жыл бұрын
Thank you so so much for sharing this!
@DANAMIONLINE5 жыл бұрын
Straight forward explanation. Thank you. I will read the book.