Some people hear that their business success rate is only 10%, so they try to avoid being part of the 90% who fail and put a lot of effort into becoming part of the 10% who succeed. In contrast, others allocate just 10% of their total effort to each of their 10 businesses, hoping that one will succeed. Since only one in ten founders succeeds, the latter approach is better because success in this world is a matter of probability. - Joseph’s “just my thoughts”
The Anchoring Heuristic In 1974, Tversky and Kahneman divided two groups and asked one group to calculate the value of "8x7x6x5x4x3x2x1" and the other group to answer the question "1x2x3x4x5x6x7x8" immediately. The average calculation result of the first group was 2,250, and that of the second group was 512. For both groups, the original answer is 40,320, which is the same. Although they multiplied by the same number, the first group multiplied by the order of the larger number, resulting in a higher baseline adjustment, while the second group did the opposite. When we judge and make decisions, the reference point determines the extent and direction of our illusion. When we live, we have to deal with these fallible human beings. - Joseph's "just my thoughts"
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