Chapter
The Flawed Thinking Behind Decision Making
36:45 - 42:57 (06:12)
The speaker talks about how people tend to make flawed decisions by overestimating the likelihood of a rare event happening and altering their present decisions based on that assumption.
Clips
The speaker talks about belly breathing as a technique to relieve stress, which involves expanding the belly as you breathe in.
36:45 - 38:54 (02:09)
Summary
The speaker talks about belly breathing as a technique to relieve stress, which involves expanding the belly as you breathe in. He also suggests taking a break from work and doing physical activities to alleviate stress.
ChapterThe Flawed Thinking Behind Decision Making
Episode#27 - 10 Million Reasons Why He Plays Poker
PodcastMy First Million
A poker player reflects on how the logical and productive thinking skills he learned from playing the game translated into other aspects of his life.
38:54 - 40:08 (01:13)
Summary
A poker player reflects on how the logical and productive thinking skills he learned from playing the game translated into other aspects of his life. He also considers the advice he would give to his own children about playing poker in the current climate where it is legal in some but not all states in the US.
ChapterThe Flawed Thinking Behind Decision Making
Episode#27 - 10 Million Reasons Why He Plays Poker
PodcastMy First Million
The speaker explains the sunk cost fallacy and expected value in simple terms, using the example of buying concert tickets versus attending a friend's birthday party.
40:08 - 41:29 (01:20)
Summary
The speaker explains the sunk cost fallacy and expected value in simple terms, using the example of buying concert tickets versus attending a friend's birthday party.
ChapterThe Flawed Thinking Behind Decision Making
Episode#27 - 10 Million Reasons Why He Plays Poker
PodcastMy First Million
This podcast explores how poker strategy can be applied to everyday decision-making, such as booking flights, by calculating the expected value of different options.
41:29 - 42:57 (01:27)
Summary
This podcast explores how poker strategy can be applied to everyday decision-making, such as booking flights, by calculating the expected value of different options.