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TIP623: The Art Of Decision Making w/ Annie Duke
We Study Billionaires - The Investor’s Podcast Network
Monkeys and Pedestals
Starting a project by focusing on the most uncertain and critical components, known as 'monkeys,' rather than the aspects that are known and manageable, called 'pedestals,' is crucial for achieving success. Identifying the 'monkeys,' such as training a monkey to juggle flaming torches, and setting kill criteria based on the uncertainty surrounding them allows for a more strategic approach to investments and projects. While 'pedestals,' like coding, are important but not the primary focus as they are more manageable. By recognizing the early warning signs that indicate failure in addressing the 'monkeys,' one can determine when to pivot or abandon a project for better outcomes.
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