Chapter
The Power of Small Vested Interests
1:29:41 - 1:35:24 (05:42)
The podcast explores how people tend to value things more when they have a small vested interest in them and highlights how this influences the short-seated tables in the restaurant business.
Clips
A discussion of how restaurants use a variety of methods to manage reservations, including asking customers to wait at the bar, overbooking tables, and offering incentives for early and late seatings.
1:29:41 - 1:31:57 (02:16)
Restaurants
Summary
A discussion of how restaurants use a variety of methods to manage reservations, including asking customers to wait at the bar, overbooking tables, and offering incentives for early and late seatings.
ChapterThe Power of Small Vested Interests
Episode#341: Nick Kokonas — How to Apply World-Class Creativity to Business, Art, and Life
PodcastThe Tim Ferriss Show
When people have even a small vested interest in something, they value it more.
1:31:57 - 1:33:11 (01:14)
Behavioral Economics
Summary
When people have even a small vested interest in something, they value it more. Behavioral economist, Richard Thaler, calls it a "little bit of skin in the game."
ChapterThe Power of Small Vested Interests
Episode#341: Nick Kokonas — How to Apply World-Class Creativity to Business, Art, and Life
PodcastThe Tim Ferriss Show
The speaker discusses their preference for receiving information via text instead of phone calls and recounts being dragged to a movie they didn't want to see.
1:33:11 - 1:35:24 (02:12)
Communication
Summary
The speaker discusses their preference for receiving information via text instead of phone calls and recounts being dragged to a movie they didn't want to see.