Bezos' Regret Minimization Framework, Time's Worth & More

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At a glance

Good Morning. Welcome to all the new readers of Faster Than Normal who have joined us since last week!

Here’s what we’ll cover today:

Mental Model: Bezos' Regret Minimization Framework.
Insight: Time's Worth.
Quote: Seeds of Change.
Question: Mindful Listening.
Visual: The Most Repeated Advice Across 25 Popular Relationship Guides.

Cheers,
Alex

| Mental Model

Bezos' Regret Minimization Framework

The "Regret Minimization Framework," created by Amazon founder Jeff Bezos, is a decision-making strategy designed to help you focus on long-term goals and prioritize the choices that will have the most significant impact on your life. By asking yourself which action your 80-year-old self would most regret not having taken, you can identify the paths that will lead to the least amount of regret and the greatest personal fulfillment.

Analogy: Picture standing at a crossroads, with multiple paths branching out in different directions. Each path represents a choice you can make in life. By using Bezos' Regret Minimization Framework, you're viewing these paths from the vantage point of your future self. This perspective allows you to foresee which decisions will lead to personal satisfaction and which choices you may regret not pursuing.

Example: Imagine you're currently working at a stable job but have always been passionate about starting your own business. You might ask yourself, "When I'm 80 years old, will I regret not taking the leap and pursuing my entrepreneurial dream?" If the answer is yes, you might decide to leave your job and start your own company, knowing that the potential rewards outweigh the risks.

Quote: "I knew that when I was 80, I was not going to regret having tried this. I was not going to regret trying to participate in this thing called the Internet that I thought was going to be a really big deal. I knew that if I failed, I wouldn't regret that. But I knew the one thing I might regret is not ever having tried." – Jeff Bezos

To apply Bezos' Regret Minimization Framework, follow these steps:

1. Reflect on your life goals: Consider your long-term ambitions and what you truly want to achieve in your life.

2. Identify potential choices: Outline the possible decisions you can make to reach your goals, and consider the impact each choice might have on your life.

3. Project yourself into the future: Imagine yourself as an 80-year-old looking back on your life. Which choices would you regret not making? Which decisions would lead to the greatest personal satisfaction?

4. Make your decision: Choose the path that minimizes potential regrets and aligns with your long-term goals. By using Bezos' Regret Minimization Framework to guide your decision-making process, you can prioritize choices that will lead to long-term satisfaction and help you achieve a fulfilling life with minimal regrets.

| Insight

The value of your time is determined by your priorities.

Challenge: List your top five priorities and assess how much time you currently dedicate to each one. Identify any areas where you need to reallocate your time to align with your values.

Example: Priorities may include family, career, health, personal development, and hobbies.