Post Category → Interesting Links

Taylor Pearson on Procrastination

Taylor Pearson really has become a fine essayist. This one on procrastination was packed with wisdom:

“Whenever you feel that some situation or some person is ruining your life, it is actually you who are ruining your life… feeling like a victim is a perfectly disastrous way to go through life. If you just take the attitude that however bad it is in any way, it’s always your fault and you just fix it as best you canâ – the so-called “iron prescription” – I think that really works.” Charlie Munger

In his letter to shareholders back in 2016, Jeff Bezos gave the best advice I’ve ever heard on how to stop procrastinating:

“Most decisions should probably be made with somewhere around 70% of the information you wish you had. If you wait for 90%, in most cases, you’re probably being slow. Plus, either way, you need to be good at quickly recognizing and correcting bad decisions. If you’re good at course correcting, being wrong may be less costly than you think, whereas being slow is going to be expensive for sure.”

What Bezos is saying is that you should think like a C student. When you’re about 70% sure, you take a guess and see what happens.

Colin Powell has a similar rule for how to stop procrastinating. You should make a decision when you have between 40% and 70% of the possible information. He believes that with less than that, you are bound to make a wrong decision.

However, if you keep looking for information beyond 70%, then by the time you make the decision, it will be so late that you will have missed the opportunity.

…Use the formula P=40 to 70, in which P stands for the probability of success and the numbers indicate the percentage of information acquired…Once the information is in the 40 to 70 range, go with your gut.

…Courage is the Cure for Procrastination

In his account of an expedition into the Himalayas in the 1930’s, explorer William Hutchison Murray put it this way:

“… but when I said that nothing had been done I erred in one important matter. We had definitely committed ourselves and were halfway out of our ruts. We had put down our passage money — booked a sailing to Bombay. This may sound too simple, but is great in consequence. Until one is committed, there is hesitancy, the chance to draw back, always ineffectiveness. Concerning all acts of initiative (and creation), there is one elementary truth, the ignorance of which kills countless ideas and splendid plans: that the moment one definitely commits oneself, then Providence moves too.”

William Hutchinson Murray, The Scottish Himalayan Expedition (1951)

How to Stop Procrastinating Using the 70% Rule

Japan’s koseki system

“The koseki is Japan’s family registration system. All legally significant transitions in a person’s life — births, deaths, marriages, divorces, adoptions, even changes of gender — are supposed to be registered in a koseki; in fact, registration is what gives them legal effect. An extract of a person’s koseki serves as the Official Document that confirms to the Rest of the World basic details about their identity and status.

Need to prove when you were born? Koseki extract. Need to show you have parental authority to apply for a child’s passport? Koseki extract. Want to commit bigamy? Good luck; the authorities will refuse to register a second marriage if your registry shows you are still encumbered with a first.

Compared to “event-based” Official Documents (birth certificates, divorce decrees and so forth) that prevail in places like America, the koseki is more accurate. An American can use a marriage certificate to show he got married on a particular date in the past but would struggle to prove he is still married today. A koseki extract, on the other hand, can do just that.”

Source: Japan’s koseki system: dull, uncaring but terribly efficient | The Japan Times

Power really does corrupt

I learned last week that becoming powerful has measurable neurological effects on your ability to empathize.

Listen to this fascinating episode of NPR’s Hidden Brain on “The Perils of Power”.

If you have a Harvard Business Review subscription there is a long article in the October 2016 edition called “Don’t let power corrupt you”.