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In this podcast episode, the speaker introduces the concept of finite games and infinite games within the context of game theory and business. Finite games have known players, fixed rules, and winning as the objective. Examples include baseball. On the other hand, infinite games involve both known and unknown players, changeable rules, and the goal is to keep the game going. The speaker highlights how business is actually an infinite game, where the objective is to outlast rather than to win. Shifting the perspective from playing to outlast instead of playing to win can fundamentally change how one approaches business and decision-making.