My Content List #16, Monday 3/9

10 min readMar 9, 2020

Opening Rant: Passive Processing

Striving for a dynamic equilibrium has been a core theme of Content Lists so far (and a lifelong goal for yours truly). To me, that means (1) recognizing the implications of marginality — i.e. how seemingly small decisions+actions can compound like interest — and (2) balancing competing priorities, especially in the face of trying circumstances. These principles transcend life’s professional, social, and introspective components and should (I hope) lead to more productivity+fulfillment in the longer run.

That’s all at the macro level. The micro level can be an incessant — and (potentially) exhausting, gratification-delaying, unrewarding — mental calculus of trade-offs and opportunity costs. The “perfectly rational” human, according to classical economics, essentially does nothing but work as much as possible to maximize productivity+income, thus marginalizing all things that don’t contribute directly to GDP.

In the words of Sen. Robert F. Kennedy, GDP…

“…does not include the beauty of our poetry or the strength of our marriages, the intelligence of our public debate or [our] integrity… neither our wit nor our courage, neither our wisdom nor our learning, neither our compassion nor our devotion to our country… [It measures everything in short, except that which makes life worthwhile.”

Despite his eloquence and heart-warming sentiment, Kennedy did not make what I think is an important connection —that those ideals and actions which “[make] life worthwhile” can engender a positive feedback loop leading to increased GDP! That’s a (slight) stretch, but what I’m talking about is getting at the micro-level of productivity… at the critical importance of how*non*-work can improve actual work.

The best way to think about this, I believe, is through Professor Barbara Oakley’s conception of “focused” versus “diffuse” thinking, which was discussed in her book A Mind For Numbers and summarized in an excellent Farnam Street post (also linked in an earlier Content List). I’m quoting FS in the below, because I couldn’t have explained it better myself:

“We are constantly in pursuit of true periods of focus — deep work, flow states, and highly productive sessions where we see tangible results. Much of the learning process occurs during the focused mode of thinking…

When our minds are free to wander, we shift into a diffuse mode of thinking. This is sometimes referred to as our natural mode of thinking, or the daydream mode; it’s when we form connections and subconsciously mull over problems. Although diffuse thinking comes in the guise of a break from focus, our minds are still working. Often, it’s only after we switch away from this mode [and back towards the focused mode] that we realize our brains were indeed working for us.”

Cognitive neurobiologists, psychologists, and behavioral economists have all offered research supporting this phenomenon. Rather than trying to brute-force your way through, stepping away from the task at hand can lead to improvement in (for example) memory consolidation, creative problem-solving, attention to detail, and general level of energy/focus. Such a respite can take many forms — a coffee break, a quick scroll through the news, switching to a different workstream, a stroll through the park, even a “briefly star[ing] into the distance before returning to work.” Even more fulsome activities like a workout, time with friends, meditation session, or a good night’s sleep can help cultivate the desired effect here…

This has definitely happened to me before. The “committee of sleep”?! What a brilliant way to put it!

It’s easy to understand how stuff like this could lead to that feedback loop:

If the break helps us mentally synthesize, there’s another experiential model added to our arsenal (i.e. our “latticework”)…
And the next time we confront a challenging task, we’ll likely be more efficient in drawing that critical inference to make progress more quickly.

This mitigates any diminishing marginal returns to labor, which is detrimental in the short- and long-runs to productivity (in the economic sense) and fulfillment (in the personal sense). Note**

The best part is it’s all passive relative to your goal — you’re free (in fact, encouraged!) to immerse yourself fully in whatever form your break takes. A (relatively) fresher set of eyes can only serve to help you. Though counter-intuitive, hopefully this shows that short-run “diffuse”(/deliberate) inefficiency can lead to longer-run efficiency.

This is exactly what I experienced this past weekend having taken a few daze off with my friends in Arizona. That outdoor-centric experience — filled with yoga, music and dance, self-reflection, deliberate breathing exercises, and (above all else) great company — was flat-out fantastic. The trip not only enabled me to operationalize a modeling task for work that I’d been struggling with; it also helped me come up with this very Opening Rant since I’d been struggling to come up with a suitable topic!

Grinding hard when you can, taking a breather when you need to reset, then hitting it hard again, and so on… that is the essence of dynamic equilibrium. So long as you don’t veer too extremely towards excess leisure or over-prioritization of work (a la “hustle porn”-stars, who I’ve slandered before), your productivity+fulfillment should trend up and to the right!

I’ll conclude with another favorite (half-serious) quote, which I can’t remember if I’ve shared before: Moderation in everything, including moderation!”

Note** I also believe this logic lends support to the generalist camp in the Depth vs. Breadth debate. Having some level of proficiency across a wider range of domains enables one to apply different evaluative lenses to problems, and it broadens one’s capabilities when thinking “diffusely” such that there may be an increased probability of mentally stumbling upon something that might prove useful!

Other Sources Worth Peeping:

The Inner Game: Why Trying Too Hard Can Be Counterproductive | FS

Enhanced Brain Correlations during Rest Are Related to Memory for Recent Experiences | Neuron

Break Time May Improve Memory | Futurity

The Middle Way: Finding the Balance between Mindfulness and Mind-Wandering | Psychology of Learning and Motivation

Stepping Away From Your Work Skillfully Can Trick Your Brain To Be More Productive | Lifehack

Taking a Walk Will Boost Your Creativity and Problem-Solving | Psychology Today

Give your ideas some legs: the positive effect of walking on creative thinking | Journal of Experimental Psychology

The Committee of Sleep: How Artists, Scientists, and Athletes Use Dreams for Creative Problem Solving — and How You Can Too | Deirdre Barrett

Got something to contribute? Think my reasoning is flawed?

Drop me a note; I’d love to hear from you!

Follow me @James R. Shecter. Or don’t.

My Content List #16, Monday 3/9

Articles

Why the Future of Retail is Offline | Brendan Wallace

BIG fan of this new thesis-based fund from Fifth Wall Ventures… DNVBs are a relatively under-penetrated domain within retail, and this new strategy could help unlock their “omnichannel” value

Big Tech is Testing You | New Yorker

A Quantitative Approach to Product Market Fit | Tribe Capital

‘The intelligence coup of the century’ | Washington Post

Planet Plastic | Rolling Stone

I Went to Hogwarts for Seven Years and Did Not Learn Math or Spelling, and Now I Can’t Get a Job | New Yorker

An (hilarious) letter to Headmaster McGonagall…

Bernie Sanders’s magical thinking on climate change | Washington Post

Algae Caviar, Anyone? What We’ll Eat on the Journey to Mars | Wired

An Algorithm That Grants Freedom, or Takes It Away | NYTimes

Why Aren’t More Highly Intelligent People Rich? A Nobel Prize-Winning Economist Says Another Factor Matters a Lot More | Inc

Why Your Brain Is Not A Computer | Guardian

Global Viral Outbreaks Like Coronavirus, Once Rare, Will Become More Common | WSJ

Even more motivation to go plant-based…

Why High-Achieving Women Pretend Their Lives Are a Mess | Kelli María Korducki

There’s an onslaught of Elizabeth Warren-related news (since she dropped out) about how challenging it is for authoritative women NOT to be construed as overly-abrasive or “condescending” — the one linke above and this piece from The Atlantic entitled America Punished Elizabeth Warren for Her Competence are both well-articulated

Move Over, Pot: Psychedelic Companies Are About to Go Public | Bloomberg

LAnd of the Undead | Prof Scott Galloway

The Crookedest Team in Baseball History | The Atlantic

Mom and Pop Millionaires Are Driving Blackstone’s Growth | WSJ

How Common Mental Shortcuts Can Cause Major Physician Errors | NYTimes

Remember the last Content List about the Fundamental Attribution Error? Even doctors are guilty of such biases, and in their case the mistakes could mean life or death…

Getting in the Spirit | Nicole Quinn

Are these “clean liquor” companies here to stay?
Note to self: Give people this out of a Hendrix bottle and see if they act drunk
Also worth checking out Nicole Quinn’s 2020 Predictions

The Primary Care First Model Is Flawed: CMS Can Fix It With Stronger Support For Behavioral Health Integration | HealthAffairs

Inflation is at historic lows, so why do things seem so expensive? | Fortune

Cord-Cutting Accelerated in 2019, Raising Pressure on Cable Providers | WSJ

The Psychology of Human Misjudgment, by Charlie Munger | Farnam Street

Email Addresses and Razor Blades | Stratechery

Inside TurboTax’s 20-Year Fight to Stop Americans From Filing Their Taxes for Free | ProPublica

Wall Street’s New Problem: When Fund Titans Invest on the Side | WSJ

I can’t say I wouldn’t do the same if I were in some of these finance magnates’ shoes

The U.S. Economy Is Rigged (& Not In Your Favor) | ZeroHedge

20 for 2020: Augmented Reality Trends and How They May Play Out This Year | Tom Emrich

I’ll confess I’m a sucker for most things AR/VR. The concept has the potential to be SO cool, so this article lured me in…

Investing in the Experience Economy | Mercedes Bent

This is another thesis that I think could have some real legs. As the article mentions, 72% of millenials (and presumably younger generations as well) prefer spending money on experiences over traditional goods

Subtitles Can’t Capture the Full Class Critique in ‘Parasite’ | Su Cho

What a brilliant film

Tim Cook and Apple Bet Everything on China. Then Coronavirus Hit. | WSJ

Bob Iger, King of Disneyland | The Economist

Untangling Warren Buffett’s unique firm | The Economist

Separately, can anyone explain to me what Apollo’s Athene does…? I tried to read the 10K and was pretty inscrutable…

What Pete Buttigieg Understood | The Atlantic

Understandable that he dropped out when he did, but I don’t think there’s anyone with a brighter political future than Mayor Pete. PLEASE RUN AGAIN!!

In the Epic Battle Between Brookfield and Blackstone, Who Wins? | Institutional Investor

The Great Google Revolt | NYTimes

Fortnite Is the Future, but Probably Not for the Reasons You Think | REDEF

The picture below pretty much sums it up — ARE YOU KIDDING?!?! [Fisher voice]

Pandemics & Markets | InvestorAmnesia

I know, you’re sick of hearing about the coronavirus. I am too.
BUT this piece is the one piece on the topic that I’d deem a MUST-READ (thanks to Alex Taussig for pointing it out)

The Illusory Truth Effect: Why We Believe Fake News, Conspiracy Theories and Propaganda | Farnam Street

The Dangers of Medicare for All | NYTimes

The Ride-Hail Utopia That Got Stuck in Traffic | WSJ