Think In Models

One of the best ways to embody practical intelligence is Charlie Munger’s concept of mental models. These are heuristics, or handy rules of thumb, for how to approach situations in smart ways. It’s when we try to freelance everything in our lives that we truly run into trouble, so having (relatively) universal guidelines or blueprints for how to act intelligently and efficiently can be invaluable.

Among the innumerable approaches that exist, we talk about the Pareto Principle (80/20 ratio), thinking about secondary consequences, distinguishing between feeling and thinking, satisficing (satisfy + suffice), prioritizing motion over planning, and addressing Murphy’s Law (whatever can go wrong, will go wrong).

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