Doubt and uncertainty make us feel uncomfortable.
And when we don't have clarity, we start rushing decisions to avoid that feeling of uncertainty.
When in doubt, take a deep breath and sleep on it before making a decision.
Mental models can save your life.
But psychological biases can ruin it.
Here are 10 psychological biases to help you avoid a life of pain and suffering:
Doubt and uncertainty make us feel uncomfortable.
And when we don't have clarity, we start rushing decisions to avoid that feeling of uncertainty.
When in doubt, take a deep breath and sleep on it before making a decision.
When we want something badly, we start overestimating our odds of success.
It's why so many people bet on their sports team to win.
It's also why millions buy lottery tickets.
Don't let what you want cloud your judgment of what you should do.
The tendency to treat others as they've treated us.
When treated well: "You scratch my back, I'll scratch yours."
When treated badly: "An eye for an eye."
Sometimes this tendency can lead to endless conflict.
Resist the urge to reciprocate bad behaviour.
We copy other people's behaviour when making decisions.
Especially when we're feeling uncertain.
This is why so many ads have celebrity endorsements and user testimonials.
Next time you make a decision, be mindful of other people's influence.
The psychological pain of losing something is twice as strong as the pleasure of gaining it in the first place.
It's why many gamblers go broke trying to recover from their first loss.
Be careful not to overreact when you lose something you value.
Humans have evolved to avoid pain - it's how we survive.
But this bias often leads us to avoid short term psychological pain instead of facing reality - aka denial.
This commonly happens in market bubbles when investors lose touch with business fundamentals.
We have an innate need to appear consistent to others.
We're afraid of people calling us a hypocrite.
But this prevents us from changing dangerous beliefs and harmful behaviours.
Keep this in mind next time you're trying to change a bad habit.
We have a tendency to follow people in positions of authority.
Children follow parents. Soldiers follow generals. Students follow teachers.
But too much blind faith in authority can lead us to follow the wrong people.
Always question the person "in charge."
More from Zain Kahn
More from Principles
Shared a lot of wins publicly in 2021, so it feels appropriate to share the losses just as publicly.
Here are my 10 biggest Ls from 2021 (and what I learned from each one):
Dopamine Addiction
Humans were not made for social media—the dopamine hits are dangerous.
I fell victim.
On several occasions, I found myself constantly refreshing my notifications on a viral thread.
It was gross.
I’m learning to physically force separation to avoid it.
Hustle Culture Fail
I spent the better part of the last decade as a hustle culture aficionado.
Then I burned myself out and was totally incapable of thinking creatively.
I made a change. Now I:
• Work like a lion
• Sleep 8 hours
• Take more walks
My life & work have 10Xed.
Solana Fail
I invested in Solana early and was riding high when it hit $30+ in April—10X+ on my investment.
I sold it and thought I was the next Warren Buffett.
Then it hit $100, $200, & $250—as I stubbornly sat on the sidelines refusing to re-enter.
I am not Warren Buffett.
The Hedonic Treadmill
I tweeted this in May—and then failed to practice what I preached.
Every win felt a bit less exciting. It’s part of our biology, but it was no way to live.
Measure internally, not externally.
Here are my 10 biggest Ls from 2021 (and what I learned from each one):
Dopamine Addiction
Humans were not made for social media—the dopamine hits are dangerous.
I fell victim.
On several occasions, I found myself constantly refreshing my notifications on a viral thread.
It was gross.
I’m learning to physically force separation to avoid it.
Hustle Culture Fail
I spent the better part of the last decade as a hustle culture aficionado.
Then I burned myself out and was totally incapable of thinking creatively.
I made a change. Now I:
• Work like a lion
• Sleep 8 hours
• Take more walks
My life & work have 10Xed.
Solana Fail
I invested in Solana early and was riding high when it hit $30+ in April—10X+ on my investment.
I sold it and thought I was the next Warren Buffett.
Then it hit $100, $200, & $250—as I stubbornly sat on the sidelines refusing to re-enter.
I am not Warren Buffett.
The Hedonic Treadmill
I tweeted this in May—and then failed to practice what I preached.
Every win felt a bit less exciting. It’s part of our biology, but it was no way to live.
Measure internally, not externally.
The Hedonic Treadmill is real.
— Sahil Bloom (@SahilBloom) May 21, 2021
Humans have a tendency to quickly return to a baseline level of happiness after positive events.
Step off the treadmill.
Focus on increasing your happiness baseline, not on the height or frequency of the spikes above it.
You May Also Like
THREAD PART 1.
On Sunday 21st June, 14 year old Noah Donohoe left his home to meet his friends at Cave Hill Belfast to study for school. #RememberMyNoah💙
He was on his black Apollo mountain bike, fully dressed, wearing a helmet and carrying a backpack containing his laptop and 2 books with his name on them. He also had his mobile phone with him.
On the 27th of June. Noah's naked body was sadly discovered 950m inside a storm drain, between access points. This storm drain was accessible through an area completely unfamiliar to him, behind houses at Northwood Road. https://t.co/bpz3Rmc0wq
"Noah's body was found by specially trained police officers between two drain access points within a section of the tunnel running under the Translink access road," said Mr McCrisken."
Noah's bike was also found near a house, behind a car, in the same area. It had been there for more than 24 hours before a member of public who lived in the street said she read reports of a missing child and checked the bike and phoned the police.
On Sunday 21st June, 14 year old Noah Donohoe left his home to meet his friends at Cave Hill Belfast to study for school. #RememberMyNoah💙
He was on his black Apollo mountain bike, fully dressed, wearing a helmet and carrying a backpack containing his laptop and 2 books with his name on them. He also had his mobile phone with him.
On the 27th of June. Noah's naked body was sadly discovered 950m inside a storm drain, between access points. This storm drain was accessible through an area completely unfamiliar to him, behind houses at Northwood Road. https://t.co/bpz3Rmc0wq
"Noah's body was found by specially trained police officers between two drain access points within a section of the tunnel running under the Translink access road," said Mr McCrisken."
Noah's bike was also found near a house, behind a car, in the same area. It had been there for more than 24 hours before a member of public who lived in the street said she read reports of a missing child and checked the bike and phoned the police.
