

Can 10,000 hours of practice make you great?
49 snips Jan 27, 2025
Join Professor Alex Edmans, a finance expert at the London Business School and author of "May Contain Lies," as he challenges the 10,000-hour rule of mastery. He reveals the psychological biases like confirmation bias that solidify misinformation, illustrated through stories like Barry Staw's study and Belle Gibson's tragic scam. Discover how narrative fallacies can distort our understanding of success and the importance of critical thinking in navigating belief systems. Edmans equips listeners with tools to combat misleading ideas.
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Misinformation in Policy
- Alex Edmans witnessed a House of Commons inquiry use a misinterpreted study on CEO pay ratios.
- The inquiry's report, influenced by this misinterpretation, led to a policy change in the UK, demonstrating the real-world impact of misinformation.
Confirmation Bias Explained
- Confirmation bias is the tendency to accept information uncritically if it supports our worldview.
- The striatum releases dopamine when we encounter agreeable evidence, hindering critical evaluation.
The Belle Gibson Story
- Belle Gibson fabricated a cancer diagnosis and cure, gaining a large following and influencing medical decisions.
- Her app and book earned her substantial income, highlighting the power of narrative and confirmation bias.