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#147 Reid Hoffman: Better Decisions, Fewer Mistakes

The Knowledge Project with Shane Parrish

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Investing in Opportunity Costs

Opportunity cost is the underappreciated aspect of decision making. It is important to consider the opportunities missed rather than just focusing on the failures. Opportunity cost is difficult to think about because it deals with possibilities and the changing landscape of actions. When considering opportunity costs in personal life, one should think about the long-term impact and whether the path chosen will bring happiness and fulfillment. Allowing room for serendipity, discovery, curiosity, and learning opens up the opportunity landscape. Engaging in activities outside of work commitments broadens creativity and mindset, leading to the discovery of massive changes.

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