Your circle of competence describes an area of knowledge where you have deep knowledge and an accurate understanding of reality. This means you know the rules and principles governing it. You have extensive practical experience in it. You know most of what there is to know, what you don’t know, and even what is knowable and unknowable. Building up your circle of competence takes a great deal of deliberate practice–meaning experience and reflection....
Book Cover Which is more dangerous, a gun or a swimming pool? Why should suicide bombers buy life insurance? Steven D. Levitt and Stephen J. Dubner answered such questions in their controversial books “Freakonomics” and “Superfreakonomics”. They have a unique way of looking at problems and often find surprising insights and solutions to common problems. In “Think Like a Freak”, they write about the principles and concepts behind their thinking....
Framing is a concept from the social sciences, specifically from psychology and behavioral economics. It describes how we interpret things differently depending on how they’re presented. Even if the different presentation has nothing to do with the matter at hand. Understanding this concept will help you see reality as it is. It can also protect you against manipulation and in turn, will make you more persuasive. The concept is founded on how our brains deal with external stimuli....
For over two and a half years, I worked as a Product Manager at Greator. I was responsible for further developing our online education platform together with two developers. Greator is the biggest platform for personal development and coaching education in Germany. The company aims to transform people’s lives with various online education products. The central challenge we faced across our products was to create an effective online education that got our participants the results they wanted, while at the same time making them scalable enough to work equally well with 10 and 10’000 participants....
Complex systems are unpredictable and don’t always work as anticipated. There are too many variables and interdependencies to fully understand them. Any input might change the system and some might lead to large unintended consequences. In some cases, the rules of the system might even change completely. A margin of safety acts like insurance against this unpredictability. There is an expected outcome to every action. A margin of safety is the buffer you add on top of the expected outcome in case you are wrong....