Attention Required! | Cloudflare
updated 2d ago
Attention Required! | Cloudflare
- Every significant thing in your life will come with trade-offs. -Think about what you want, and what you're willing to give for it. -What your priorities are & sacrifices. It's better to make trade-offs intentionally, than have others dictate them as you move through life.
- What is the opportunity cost? If I do this, if I go on this vacation, if I get this car, what am I turning down? By asking yourself this, and then consistently aiming to pick the thing that optimizes for what you most deeply value—it adds up. It makes life rich.
from Don’t Sacrifice the Wrong Thing by Henrik Karlsson
Max Beauroyre added
the opportunity-cost principle: Consider what opportunities you’re forgoing when you choose one option over another.
from Clear Thinking by Shane Parrish
Everything we do in life is a trade-off. Choosing to do one thing means not doing something else.
from Barking Up the Wrong Tree: The Surprising Science Behind Why Everything You Know About Success Is (Mostly) Wrong by Eric Barker
As painful as they can sometimes be, trade-offs represent a significant opportunity. By forcing us to weigh both options and strategically select the best one for us, we significantly increase our chance of achieving the outcome we want.
from Essentialism: The Disciplined Pursuit of Less by Greg Mckeown
The concept of opportunity cost is important for two reasons. First, if you don’t understand the opportunities you are losing when you make a choice, you won’t recognize the real trade-offs that you face. Recognizing trade-offs is the first step in making wise choices. Second, most of the time people do respond to changes in opportunity costs—even
... See morefrom Modern Principles of Economics by Alex Taborrok
- “A practical definition of opportunity cost:
If you spend too much time working on good things, then you don’t have much time left to work on great things.
Understanding opportunity cost means eliminating good uses of time. And that's what makes it hard.”from 3-2-1: Opportunity Cost, Power of Listening, and the Stories We Tell Ourselves | James Clear by James Clear
Isaac Feldman added
We must make choices. We must make sacrifices; we must choose things not to do. That means, we absolutely must, consciously or not, consider opportunity costs every time we use money. Opportunity costs are alternatives. They are the things that we give away, now or later, in order to do something. These are the opportunities that we sacrifice when
... See morefrom Dollars and Sense by Dan Ariely