Tag: The Knowledge Project

The Return of a Decision-Making Jedi [The Knowledge Project #28]

Michael Mauboussin

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Michael Mauboussin returns for a fascinating encore interview on the Knowledge Project, a show that explores ideas, methods, and mental models, that will help you expand your mind, live deliberately, and master the best of what other people have already figured out.

In my conversation with Michael, we geek out on decision making, luck vs. skill, work/life balance, and so much more.

Mauboussin was actually the very first guest on the podcast when it was still very much an experiment. I enjoyed it so much, I decided to continue with the show. (If you missed his last interview, you can listen to it here, or if you’re a member of The Learning Community, you can download a transcript.)

Michael is one of my very favorite people to talk to, and I couldn’t wait to pick up right where we left off.

In this interview, Michael and I dive deep into some of the topics we care most about here at Farnam Street, including:

  • The concept of “base rates” and how they can help us make far better decisions and avoid the pain and consequences of making poor choices.
  • How to know where you land on the luck/skill continuum and why it matters
  • Michael’s advice on creating a systematic decision-making process in your organization to improve outcomes.
  • The two most important elements of any decision-making process
  • How to train your intuition to be one of your most powerful assets instead of a dangerous liability
  • The three tests Michael uses in his company to determine the health and financial stability of his environment
  • Why “algorithm aversion” is creating such headaches in many organizations and how to help your teams overcome it, so you can make more rapid progress
  • The most significant books that he’s read since we last spoke, his reading habits, and the strategies he uses to get the most out of every book
  • The importance of sleep in Michael’s life to make sure his body and mind are running at peak efficiency
  • His greatest failures and what he learned from them
  • How Michael and his wife raised their kids and the unique parenting style they adopted
  • How Michael defines happiness and the decisions he makes to maximize the joy in his life

Any one of those insights alone is worth a listen, so I think you’re really going to enjoy this interview.

Listen

Transcript

An edited transcript is available to members of our learning community or for purchase separately ($7).

More Episodes

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Marc Garneau on the Future of Transportation

Marc Garneau (@MarcGarneau) is a Canadian politician, an engineer, and former astronaut who holds the distinction of being the first Canadian in space. He is currently serving as the Canadian Minister of Transport.

This episode of The Knowledge Project was recorded in front of a live audience in Montreal, Canada at a Junto event. (You’ll hear bits of French from the audience questions here and there at the end, but the interview and Marc’s responses are predominantly in English.)

In this fascinating interview, we discuss:

  • What the future of transportation looks like (including self-driving cars and their second-order effects)
  • The effect that new technologies have on how governments invest in infrastructure
  • How truck and taxi drivers throughout the world will be impacted in the future
  • Marc’s experiences in space as the first Canadian to join three NASA expeditions
  • What it means to be a liberal in 2017, and how the political landscape is shifting
  • How we, as citizens, can judge the performance of an elected politician
  • How Marc ensures that he’s getting accurate information in a sometimes backward and messy political system

And so much more.

There’s so much to learn and think about in this discussion. Please enjoy!

Listen