59: Ergodicity and Decision-making with Luca Dellanna
The Knowledge with David Elikwu
Introduction
This week, David Ellecou talks with Luca DeLana about the concept of ergicity. We also talk about management and some of the principles and best practices for managers. And most importantly, please don't forget to leave a review on Apple Podcasts.
David speaks with Luca Dellanna, a management advisor and author.
Luca is the author of multiple books, including "Ergodicity" and "Best Practices for Operational Excellence".
His work emphasizes the importance of understanding risk, maximizing longevity, and making high-quality decisions in various domains.
They talked about:
π‘ The concept of ergodicity: Survival matters more than performance, and irreversible losses can absorb future gains.
π§ The importance of avoiding extremes: Finding a balance between extremes is crucial to minimize risks and maintain well-being.
π Optimise for average: Consistently being average over time can lead to being above average in the long run.
π The role of good coaches and managers in providing actionable feedback: Maintaining skills, culture, and reducing risk through regular maintenance is crucial for long-term success in organizations.
πFull transcript:
https://www.theknowledge.io/lucadellanna/
πΉ Watch on Youtube:
https://youtu.be/bcygw2DraG0
π€ Connect with Luca:
Twitter: @DellAnnaLuca
Website: http://luca-dellanna.com/
Books: Ergodicity Best Practices for Operational Excellence
π£ Mentioned in the show:
Elizabeth Swaney | https://www.theknowledge.io/issue66/#:~:text=Exceptional mediocrity
Freestyle World Ski Championships | https://en.wikipedia.org/wiki/FIS_Freestyle_World_Ski_Championships
Elon Musk | https://en.wikipedia.org/wiki/Elon_Musk
The Success Equation | https://amzn.to/3p38kog
Michael J. Mauboussin | https://en.wikipedia.org/wiki/Michael_J._Mauboussin
The 22 Immutable Laws of Marketing | https://amzn.to/43FgNwS
DuPont | https://en.wikipedia.org/wiki/DuPont
David Epstein | https://twitter.com/DavidEpstein
Range | https://amzn.to/43UpH9C
Annie Duke | https://en.wikipedia.org/wiki/Annie_Duke
Thinking in Bets | https://amzn.to/3X5z04k
Steve Carroll | https://en.wikipedia.org/wiki/Steve_Carell
Greg Popovich | https://en.wikipedia.org/wiki/Gregg_Popovich
Nasim Taleb | https://en.wikipedia.org/wiki/Nassim_Nicholas_Taleb
Antifragile | https://amzn.to/45Zw5yf
Scaling People | https://amzn.to/43EhmHh
Claire Hughes Johnson | https://twitter.com/chughesjohnson
Bent Flyvbjerg | https://en.wikipedia.org/wiki/Bent_Flyvbjerg
How Big Things Get Done | https://amzn.to/3X8uCBO
π¨πΎβπ» About David Elikwu:
David Elikwu FRSA is a serial entrepreneur, strategist, and writer. David is the founder of The Knowledge, a platform helping people think deeper and work smarter.
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Career Hyperdrive is a live, cohort-based course that helps people find their competitive advantage, gain clarity around their goals and build a future-proof set of mental frameworks so they can live an extraordinary life doing work they love.
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