Question & Framework: March 29, 2024

Hello and welcome to the Curiosity Chronicle Weekly Question and Framework. In three minutes or less, I will give you one question and one framework to get you thinking going into the weekend. Without further ado, let's dive right into it. A question to break through that fear. What would you attempt if you knew you couldn't fail? We all have that one thing in our lives. The one thing we've always wanted to do, that one risk we've always wanted to take, that one person we've always wanted to talk to, that one goal we've always wanted to set. But the fear of failure stands in the way. So most of us will never do it. You're not afraid of failure. You're afraid of what other people will think of you if you fail. You're afraid of the external perceptions of your failure. Well, here's a harsh no one is thinking about you. No one is looking at your failure. They'll all forget about it within a minute and move on to whatever pressing issue they are facing in their own lives. So what's stopping you from attempting that thing? What would you attempt if you knew you couldn't fail? Ask yourself a few prompts. Is the failure really that bad? Is it really that costly? Is it really that irreversible? Usually the failure isn't as scary as you might think. So what are you waiting for? A framework to improve your important decisions the Red Team I spent the first seven years of my career working as a professional investor at a large investment fund. As you might expect, the long term success of the fund relied on making great investment decisions and avoiding bad ones. A few years into my tenure, we incorporated an idea called the Red Team into our investment diligence process. The idea was simple. A team of two to three people were tasked with poking holes in the investment opportunity. Their entire goal was to ask the tough questions, uncover the contrary evidence, and pressure test our assumptions. While the main investment team was working to understand the opportunity and present the case for the investment, the Red Team was working to expose the gaps in our thinking and force a better, ultimate decision. The Red Team idea is even more interesting outside the context of professional investing. As a broadly applicable tool for your life, what if you created a Red team to help you navigate life's most important decisions? Just as an investment firm uses a Red Team to make better investing decisions, you can use a Red Team to make better life decisions. You live your life zoomed in. This means you're often unable to remove yourself from the emotional connection to the decision in front of you. The Red team can force you to zoom out. What are you missing? What do you know for sure that just ain't so? What assumptions are you making that are fundamentally flawed? What questions have you failed to ask? What alternatives are you ignoring? What information or evidence can you gather or create the Red team for your life doesn't need to be formal, it can just be a few people you respect, trust and admire. Seek them out when you face your most important decisions. Give them the relevant details and ask them to go down the rabbit hole with you. It may add a bit of time to the decision making process, but if the quality of your ultimate decision improves 5% it will be worth it. Find your Red Team and use it. That's all for today's piece. I hope you enjoyed it. I hope you learned something and I hope you'll share it with others. As always, until next time, stay curious. Friends.