Action Academy | Millionaire Mentorship For Your Life & Business The Regret Minimization Framework: How Jeff Bezos Makes Decisions & Started Amazon
Feb 16, 2024
Entrepreneur Jeff Bezos discusses the regret minimization framework, his decision to start Amazon, and the importance of different mental frameworks for decision making. The framework emphasizes considering the perspective of the older self and prioritizing regret avoidance over material success. Challenges of dismantling mental models are also explored.
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Bezos Leaves Stable Job
- Jeff Bezos was successful in a high-paying private equity job before starting Amazon.
- He decided to leave after seeing the internet's potential, despite his managing partner warning him about leaving something good.
Fear Stops Most People
- Most people don't take big risks because they have "good enough" situations.
- This fear of losing comfort stops 99% from pursuing their passions.
Ask Your 80-Year-Old Self
- Ask yourself what your 80-year-old self would think about your decision.
- Choose the path that minimizes long-term regret, prioritizing risk over never trying.