Many of us obsess over making the right decisions. However, it’s important to keep in mind:
- The world is random. In stochastic environments, it’s better to think about what decision-making framework, or policy, to adopt, rather than a specific action (which could be better in one randomly seeded version of the world, and worse in another).
- Making mistakes forge internal convictions that are hard to replicate otherwise.
As much as we can try to internalize learnings without undergoing failure ourselves (like reading about others’ mistakes), first-hand experiences are irreplaceable.
Mis-steps are especially fine when:
- The cost of attempting again or switching paths is low.
- The difference in outcomes between the right and wrong decision is minor.