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Afford Anything | Make Smart Money Choices

The Scientific Secrets of Perfect Timing, with Daniel Pink

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.73.6K Ratings

🗓️ 15 April 2019

⏱️ 82 minutes

🧾️ Download transcript

Summary

#188: In May 1915, a renowned 58-year-old sea captain, Captain William Thomas Turner, made a series of questionable decisions. He was the captain of the Lusitania, a ship with 1,959 passengers, sailing from Manhattan to London. The first World War was taking place around them, and Captain Turner knew he needed to move swiftly to evade German submarines. His ship approached England; land was in sight. They had almost made it. Yet for reasons that will always remain a mystery, around 1 pm on May 7th, Captain Turner slowed the speed of the vessel to around 18 knots, slower than the 21 knots that they needed to outpace the threat of submarines. Around 45 minutes later, he executed what's called a "four-point bearing," which forced him to pilot the ship in a straight line rather than a zigzag course, which would be better for outmaneuvering torpedoes. At 2:10, the ship was ripped apart by a torpedo. Nearly 1,200 people were killed. Since that fateful day, historians have pondered why he made those two decisions, simple choices which may have permanently altered the lives of thousands. Today's podcast guest, Daniel Pink, has an unusual theory. He believes Captain Turner may have made those sloppy choices because it was the afternoon. Daniel Pink is the author of When: The Scientific Secrets of Perfect Timing. In his book, he makes the case that the time-of-day in which we take actions -- early morning, mid-afternoon, or nighttime -- makes a bigger impact than we realize. Our energy and attention unfold in waves, with a rise, then a drop, then a resurgence. The secret to perfect timing isn't simply a matter of managing daily routines, however. Daniel Pink also shows how this pattern emerges over the span of a natural human life, with the choices we make in our sunset years more prone to editing, to curating, than the choices we make in our younger years when time feels abundant. Senior citizens may have smaller circles of friends, he says, not due to loneliness but rather because they're editing their circles down to the few people who matter most. He discusses how midlife is a fascinating point in which our brains signal that we've squandered half of our time. These midpoints can act as either a slump or a propellant. He talks about how we appreciate things more if we believe that they're ending. In one study, researchers gave five Hershey Kisses to subjects; they asked the subjects to rate their taste and enjoyment. When the researchers handed out the fifth Hershey Kiss, they told half of the subjects "here is your fifth chocolate," and they told the other half of the subjects, "here is your final chocolate." The ones who were told that they were receiving the final chocolate rated their enjoyment of it more highly. How much does timing affect our lives? How do we manage our days, and our decades, with a stronger awareness of the way that chronology impacts our mood, energy and priorities? Daniel Pink answers these questions in his book, When: The Scientific Secrets of Perfect Timing. He talks about it on today's show. For more information, visit the show notes at https://affordanything.com/188  Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

You can afford anything. You just can't afford everything. Every decision that you make

0:12.8

is a trade-off against something else. There is an inherent opportunity cost to every

0:17.4

choice that you make, and that doesn't just apply to your money, it also applies to

0:22.1

your time. Timing is everything and everything is timing, and that's what we're going to

0:26.1

talk about on today's episode. My name is Paula Pan. I am the host of the Afford Anything

0:30.5

podcast. Today, New York Times best-selling author Daniel Pink is on the show to discuss

0:37.4

the scientific secrets of perfect timing. Dan researched how timing affects our decision-making.

0:45.6

How do we make smarter, better decisions knowing what we know about time, both time of day

0:53.5

and phase of life? As it turns out, there are certain times of the day and certain phases

0:59.3

of life in which a particular action might be more or less suitable. There's a lot

1:07.1

of research, a lot of talk around what to do, and there are many philosophical and spiritual

1:12.7

discussions about why we do what we do, but few people ever discuss when. So in today's

1:20.3

interview, we're going to talk about when. Here is New York Times best-selling author,

1:26.1

Dan Pink, to discuss when to do things, and when not to do things.

1:31.7

Hi, Dan. Hi, how you doing? I'm great. How are you doing? I'm good. You wrote when to

1:41.7

describe how everything is timing, and in ways that are subtle and often unrecognized,

1:49.5

the timing of things, including if something happens in the morning or in the evening,

1:54.3

affects oftentimes the outcome. When inspired you to go down this line of thought?

2:00.5

Frustration more than anything else. I was making all kinds of timing decisions in my

2:06.9

own life, everything from the Ombariter. So when in the day should I do my writing? When

2:12.0

in the day should I exercise? When in the day should I do my phone calls? When in the

2:15.1

day should I answer my email? To even things broader in scope. When should I start a new

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