The key to success? Remind yourself of how little you know.
You don’t want to be so modest that you don’t’ do anything, and just sit there like a puddle, but when you do things, you constantly want to be checking for your own biases.
One of the traits that hampers executives and leaders in many realms is over-confidence. And so 95 percent of college professors think they have above-average teaching skills. And Time magazine asked Americans, are you in the top one percent of earners? And 19 percent of Americans believe they are in the top one percent of earners. And yet, some people have the ability to look inside themselves and say, "Okay, I’m over-confident. Actually let me stop. I missed something that will be germane."
And so two researchers gave tests to business executives and tests about their own industries. And then they asked them, "How confident are you that the answers to these tests about your own industries are correct?" And people in the advertising industry were convinced they got 80 percent of the answers right on these tests. In fact, they got 60 percent wrong. The most over-confident industry was the computer industry. And so people in the computer business thought they got 95 percent of the answers on the test correct. In fact, they got 80 percent of them wrong.
And so we all have this tremendous bias to be over-confident, over-value our abilities to pick out evidence that confirms what we already believe. And so a wise executive says, “Hey, I’ve got an over-confidence bias. I need to build modesty bootstraps for myself.” Charlie Munger, Warren Buffett’s partner in his investment business, says, "Okay, here’s what I’m going to do to control my over-confidence. Here’s what I’m going to do to bias myself in the opposite direction."
Peter Drucker, the great management guru had a modesty step. He said, "When you make a decision, write it on a piece of paper, seal it in an envelop for nine months, open it after nine months, and you’ll see that a third of your decisions were right, a third were wrong, and a third somewhere in between. But in most cases your reasoning will be completely irrelevant. And if you do that, you’re going to remind yourself how little you know and you’ll build modesty bootstraps." So you don’t want to be so modest that you don’t’ do anything, and just sit there like a puddle, but when you do things, you constantly want to be checking for your own biases.
That's a sharp increase from the 1960s when it took the same share of scientists an average of 35 years to drop out of academia.
- The study tracked the careers of more than 100,000 scientists over 50 years.
- The results showed career lifespans are shrinking, and fewer scientists are getting credited as the lead author on scientific papers.
- Scientists are still pursuing careers in the private sector, however there are key differences between research conducted in academia and industry.
We have to practice doing nothing more often.
- Constantly being busy is neurologically taxing and emotionally draining.
- In his new book, Jon Kabat-Zinn writes that you're doing a disservice to others by always being busy.
- Busyness is often an excuse for the discomfort of being alone with your own thoughts.
The bold technique involves surgically implanting a so-called microneedle patch directly onto the heart.
- Heart attacks leave scar tissue on the heart, which can reduce the organ's ability to pump blood throughout the body.
- The microneedle patch aims to deliver therapeutic cells directly to the damaged tissue.
- It hasn't been tested on humans yet, but the method has shown promising signs in research on animals.
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