Bounded rationality says we have an unlimited choice at some level (restaurants)- which is overwhelming. So you say you’ll just look at the restaurants that are 1 mile from your house. That keeps you sane.
When it comes to social life, I still have to put some boundaries. Choose what type of person you want to be an ally with, and what people you want to compete against (Will Durant’s books- competition). It can be healthy competition, or sports competition also. If you need it or not, you’ll still have it, even against Nature.
Let’s do the inversion; who you shouldn’t be around- in business you want to compete with a bunch of idiots, and there’s a large supply of them (Charlie- one kid was always better in math, so I switch the subject).
Try to find a category where not every genius is in, pick niches in an industry. This does not apply to science.
In Economics there’s no real long-term thing; if there’s a huge profit, competition comes and lowers the profit, by doing a better job, being more efficient and the customer wins.
Have comparative advantage; if you live in Mexico you want to grow oranges, not apples that need winter to grow. Canada doesn’t have the advantage to grow oranges, so they grow apples instead. This can make a world a better place, everybody makes what they’re good at, and then they trade it, and the net amount is higher, because of it.
Ask and it will be given to you, seek and you will find, knock and the door will be opened; if you don’t know what to do, keep doing that. Don’t give up too quickly.
The crocodiles are a moat around your castle, so the other people don’t steal it. If you’re very good at land, labor, and capital they can’t steal anything.
Get rid of distorted self-esteem people (some people are good people who accurately tell who they are, and they’re average and that’s fine, but don’t spend time with people who think they’re better looking, more valuable than they actually are, they’re distorted, also on the low side)
Be surrounded by accurate people, because people who have distorted sense of self-are unstable, because they’ll always get different feedback than they actually are, and they bite you in the back.
Everybody at the end thinks they’re better than you, so if they think they’re better, but they get bad feedback, it creates neuroses and anger, if they find a chance where they can rise up at your expense, they’ll use it, they see themselves there and they want to get acknowledged.
That should be my test; accuracy, other people leave casualties and you don’t want to be a casualty. Allies should always be stable people, even if they’re not geniuses, build on loyalty.
The vows people take when they get married is something you can build on, old friends are better, that’s something you can build on, or you will always have to get new friends, new employees that you need to train over and over again- spend time with them closer and deeper to get to know them. Distorted think they’re already there or think they’re somewhere they’re not. Optimism is good, and being a little tough on yourself is fine as well, but the balance must be established.
What is an example in your life socially where you have allied with unstable people?
How can you adjust your career so that you working with your competitive advantage (competing with idiots)? What are your advantages?
What new allies do you need to go out and make?