3min chapter

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How to Make Better Decisions

a16z Podcast

CHAPTER

Using a Knowledge Tracker, You're Trying to Reconstruct an Investment Memo

When people lose, they'll do these process dies. The problem is when there's a big win,. They're like, we won. Yep, exactly. You kind of get out the hook. Right? It's like a door out of the room. Luck is giving me a way out of this. So we're actually pretty eager to go around and explore those bad outcomes. But we're not so eager to do those when we have a good outcome. To think about which quadrant fits in, you have to apply this other tool: counterfactuals.

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