The Great Mental Models, Volume 4 - Economics and Art - Shane Parrish
Summary
- Volume 4 in his series where he takes principles from every day sciences. In this case economics and art
How I discovered it
- I have folllowed fs.blog from soon after it began
Reflections
Details
- Framing with intention helps us be selective in what we bring into our minds
- Chekov's gun principle of storytelling
- Use genres to classify things, but dont be too strict or it may blind you to connections
- A little uncertainty creates interest and anticipation
- Success seeds failure, which in turn sows the seeds for success
- Improve your nonsense detection mechanism with general knowledge
- All financial balloons eventually burst, so be grounded in economic reality not in the hype
- Open source intelligence is freely available
- Visual displays should use comparison to convey data
- Shared information by means of casual conversation or gossip allows for efficient decision making
- We experience rhythm in everything around us
- All history is viewed through a frame. Consider who is making the frame.
- Scarcity is a basic principle of economics
Quotes
- The first rule of compounding - Never interrupt it unnecessarily - Charlie Munger
- The most important optimization is to do the right thing. A close second is to do the thing right - Jon Bentley
- Beware of competing with those who have different time horizons to you - Morgan Housel