In this book, James P. Carse distinguishes between finite and infinite games. Finite games are instrumental activities with clear rules, boundaries, and winners, such as sports, politics, and wars. Infinite games, on the other hand, are authentic interactions that aim to continue the play, changing rules and boundaries as needed. Carse explores how these concepts apply to various aspects of life, including culture, religion, sexuality, and self-discovery. He argues that finite games offer wealth, status, and power, while infinite games provide something more subtle and grander, such as true freedom and endless possibility. The book offers insights into how approaching life as either a finite or infinite game affects one's choices, satisfaction, and success[2][4][5].
In 'The Sports Gene', David Epstein delves into the science behind extraordinary athletic performance, examining the interplay between genetics and environmental factors. Through on-the-ground reporting, interviews with leading scientists and Olympic champions, and analysis of genetic mutations and physical traits, Epstein challenges the 10,000-hour rule and explores how biology influences athletic success. The book discusses sensitive topics such as race, gender, and the genetic roots of performance, highlighting the complexity of the nature vs. nurture debate and its implications for training and competition.
In this book, David Epstein examines the success of generalists in various fields, including sports, arts, music, invention, forecasting, and science. He argues that generalists, who often find their path late and juggle multiple interests, are more creative, agile, and able to make connections that specialists cannot. Epstein uses stories and research studies to show that wide sampling and late specialization can be more valuable than early specialization, especially in complex and unpredictable environments. He also discusses the distinction between 'kind' and 'wicked' learning environments and the importance of balancing specialization with range for long-term success[2][4][5].
In 'Outliers: The Story of Success', Malcolm Gladwell examines the often-overlooked factors that contribute to high levels of success. He argues that success is not solely the result of individual talent or hard work, but rather is influenced by a complex web of advantages and inheritances, including cultural background, family, generation, and luck. The book delves into various examples, such as the success of Bill Gates, the Beatles, and Canadian ice hockey players, to illustrate how these factors play a crucial role. Gladwell also discusses the '10,000-hour rule' and the impact of cultural legacies on behavior and success. The book is divided into two parts: 'Opportunity' and 'Legacy', each exploring different aspects of how success is achieved and maintained.
In 'Ending Medical Reversal', Drs. Prasad and Cifu delve into the phenomenon of medical reversals, examining why ineffective or harmful practices are adopted and later abandoned. They provide examples such as Vioxx and vertebroplasty, and propose reforms in medical education, research, and drug approval processes to ensure more effective medical practices.
My guest this week is David Epstein. David is a writer and researcher extraordinaire and the author of two great books. His second, Range, is out today and I highly recommend it. We discuss the pros and cons of both the generalist and specialist mindsets in detail and go down many interesting trails along the way. Please enjoy our conversation.
For more episodes go to InvestorFieldGuide.com/podcast.
Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.
Follow Patrick on Twitter at @patrick_oshag
Show Notes
1:12 - (First Question) – What he uncovered in “The Sports Gene: Inside the Science of Extraordinary Athletic Performance” that led him to his latest book
2:38 – Debate with Malcolm Gladwell (YouTube)
4:12 – What did the public pay most attention to and what did they gloss over
7:56 – How his views on nature vs nurture shifted during the process of writing The Sports Gene
10:05 – Blending practice with your nature
13:04 – His process of reading 10 journal articles a day as part of his research
19:06 – Exploring his new book “Range: Why Generalists Triumph in a Specialized World”, and his idea of Martian tennis
23:03 – Idea of the cult of the head start and how we set up our own feedback loops
28:58 – What does his research say about the nations education system
30:42 – The Flynn Effect chapter
33:54 – Hacks for learning
37:52 – The concept of struggle and harnessing the power of it
46:31 – Personality changes and how to drive those changes in a positive way
52:00 – Using the outside perspective in businesses for more productive outcomes and how it applied to Nintendo
52:59 – Josh Wolfe Podcast Episode
1:04:45 – Other examples of using withered technologies, 3M
1:09:00 – The arc of his work and how it has evolved
1:13:54 – Taking a different view on problems
1:17:52 – Ending Medical Reversal: Improving Outcomes, Saving Lives
1:18:04– Anyway to change these bad trends with new strategies
Learn More
For more episodes go to InvestorFieldGuide.com/podcast.
Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub
Follow Patrick on twitter at @patrick_oshag
Invest Like the Best with Patrick O'Shaughnessy 
