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Valuetainment

Episode 367: How to Make Tough Decisions

Valuetainment

Valuetainment Episodes

Business

4.81.7K Ratings

🗓️ 16 September 2019

⏱️ 11 minutes

🧾️ Download transcript

Summary

Episode 367: How to Make Tough Decisions by Patrick Bet-David --- Support this podcast: https://podcasters.spotify.com/pod/show/valuetainment/support

Transcript

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0:00.0

30 seconds.

0:01.0

One time for the underdder.

0:03.0

Ignition sequence star.

0:07.0

Let me see you put them up.

0:09.0

Reach the sky, touch the stars up above because it's one time for the underdow one time for the underdow

0:17.3

I'm Patrick with your host of value Tim and today we're going to talk about you making

0:20.3

tough decisions yes some of us get stuck making the tough decisions because we don't know if we're making the right

0:25.7

decision I'm gonna give you system today on how to make those tough decisions

0:29.0

that you've been set inside for a long time point number one on making tough decisions is game

0:33.8

theory. Let me explain to what game theory means and what that has to do with you and I

0:37.4

making tough decisions. So John Nash, a famous mathematician, a story that's a

0:41.9

very unique story. Matter of fact a movie was made about him called a beautiful mind Russell Crow plays John Nash

0:47.1

You know that one scene he's working with all these numbers and data on the wall that's John Nash He came out with game theory and game theory is a system

0:55.6

to help you and I make decisions with the biggest odds being in our favor.

1:00.1

Let me explain to you. This whole concept is simplified in a story of prisoners' dilemma.

1:05.2

Maybe you've heard prisoners' dilemma before. If you haven't, this kind of helps you understand

1:09.2

the whole decision. So imagine you, your name is John, Bobby comes up to you and Bobby says, hey, John, I want us to go rob this bank.

1:17.5

If we rob the bank, I have a plan we're going to get $2 million, you get a million, I get a million.

1:21.5

And you say, you know what, I'm'm game let's go rob this bank together okay

1:24.8

Again this is hypothetical. I'm not encouraged you to go rob the bank everybody believes valetainment for it

1:29.5

So Bobby says let's go rob a bank you guys go rob a bank so while you're about to rob this bank and go away with

1:34.8

two million dollars, you get caught, you get arrested.

...

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