Psychological research has demonstrated that human beings are particularly susceptible to what are called framing effects. These are differences in the way we respond to a situation, based on how it is framed for us, rather than on its substance. To take a particularly striking example, American physicians were presented with the following scenario: “The […]
Book Club: Godel, Escher, Bach (December 2017)
This month we read Godel, Escher, Bach by Douglas Hofstadter. This is a fantastically weird and wonderful book. At one level, the book is about a parallel between three people: Johann Sebastian Bach, Kurt Godel and M.C. Escher, in particular how their work in music, math and art manages to loop back on itself and […]
Discovering the Meta
One of my favorite early lessons in entrepreneurship was the idea of working “on” your business instead of merely working “in” your business. To see the distinction, imagine running a restaurant. Here, working “in” the business is clear. Make delicious food. Offer great service to your customers. Keep the place clean and inviting. Being able […]
Book Club: Average Is Over (November 2017)
Last month we read Average Is Over by Tyler Cowen. In this eye-opening book, renowned economist and bestselling author Tyler Cowen explains that high earners are taking ever more advantage of machine intelligence in data analysis and achieving ever-better results. Meanwhile, low earners who haven’t committed to learning, to making the most of new technologies, have […]