59: Ergodicity and Decision-making with Luca Dellanna

The Knowledge with David Elikwu

David speaks with Luca Dellanna, a management advisor and author.

Luca is the author of multiple books, including "Ergodicity" and "Best Practices for Operational Excellence".

His work emphasizes the importance of understanding risk, maximizing longevity, and making high-quality decisions in various domains.

They talked about:

💡 The concept of ergodicity: Survival matters more than performance, and irreversible losses can absorb future gains.

🚧 The importance of avoiding extremes: Finding a balance between extremes is crucial to minimize risks and maintain well-being.

📊 Optimise for average: Consistently being average over time can lead to being above average in the long run.

📋 The role of good coaches and managers in providing actionable feedback: Maintaining skills, culture, and reducing risk through regular maintenance is crucial for long-term success in organizations.

📜Full transcript:

https://www.theknowledge.io/lucadellanna/

📹 Watch on Youtube:

https://youtu.be/bcygw2DraG0

👤 Connect with Luca:

Twitter: @DellAnnaLuca

Website: http://luca-dellanna.com/

Books: Ergodicity Best Practices for Operational Excellence

🗣 Mentioned in the show:

Elizabeth Swaney | https://www.theknowledge.io/issue66/#:~:text=Exceptional mediocrity

Freestyle World Ski Championships | https://en.wikipedia.org/wiki/FIS_Freestyle_World_Ski_Championships

Elon Musk | https://en.wikipedia.org/wiki/Elon_Musk

The Success Equation | https://amzn.to/3p38kog

Michael J. Mauboussin | https://en.wikipedia.org/wiki/Michael_J._Mauboussin

The 22 Immutable Laws of Marketing | https://amzn.to/43FgNwS

DuPont | https://en.wikipedia.org/wiki/DuPont

David Epstein | https://twitter.com/DavidEpstein

Range | https://amzn.to/43UpH9C

Annie Duke | https://en.wikipedia.org/wiki/Annie_Duke

Thinking in Bets | https://amzn.to/3X5z04k

Steve Carroll | https://en.wikipedia.org/wiki/Steve_Carell

Greg Popovich | https://en.wikipedia.org/wiki/Gregg_Popovich

Nasim Taleb | https://en.wikipedia.org/wiki/Nassim_Nicholas_Taleb

Antifragile | https://amzn.to/45Zw5yf

Scaling People | https://amzn.to/43EhmHh

Claire Hughes Johnson | https://twitter.com/chughesjohnson

Bent Flyvbjerg | https://en.wikipedia.org/wiki/Bent_Flyvbjerg

How Big Things Get Done | https://amzn.to/3X8uCBO

👨🏾‍💻 About David Elikwu:

David Elikwu FRSA is a serial entrepreneur, strategist, and writer. David is the founder of The Knowledge, a platform helping people think deeper and work smarter.

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