Akimbo: A Podcast from Seth Godin Opportunity cost (E)
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Jun 19, 2024 Exploring the value of time, opportunity cost, and balancing work with personal projects are key topics in this podcast. The power of daily habits and intentional time investment for success are also discussed.
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Modern Time as Resource
- Modern understanding of time as a resource influenced by choices and opportunity cost is a recent concept.
- Stone Age people worked only 2-3 hours daily and spent the rest of the time leisurely, unlike today's busy life pace.
Opportunity Cost Explained
- Opportunity cost means every choice about time excludes other possibilities.
- The buffet analogy explains how choosing one option limits what else fits, emphasizing trade-offs in time use.
Replay Novel on Time and Choice
- Ken Grimwood's "Replay" novel explores reliving your life with memories intact, highlighting the weight of changing past choices.
- The story shows how knowing you have unlimited time lowers opportunity cost, leading to boredom.