Rewind #1 – Opportunity Cost & Zooming Out

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Rewind is a series of blog posts I plan to write reflecting on a topic I discussed on an old Searching for Rachel Mak episode after a re-listen. The corresponding episode will be embedded at the end of the post.

The first thing that comes to mind after the re-listen is that if you want to improve your public speaking skills, podcasting is likely one of the best free tools at your disposal if you can bear listening to yourself after recording. Dave has definitely come a long way from talking fast and repeating “right?!” all the time.

In this episode, I think I tried to come up with complicated examples and use fancy terms like “misapplying EV” when all I really was talking about was opportunity cost and how we can be put into certain situations where we completely forget to consider opportunity cost.

Someone might ask me if I want to go on a particular trip and often, I will only consider the merits of the trip alone but not what opportunities I am foregoing were I to take the trip.

When I was grinding Magic: The Gathering tournaments around the world, I just kept adding to my schedule any tournament I felt I was in a good position to do well in but what I needed to do was the occasional zooming out. Sure, these events would advance me in my MTG goals but how do they affect the big picture (every aspect of my life)?

The main takeaway is that I should remember to occasionally pinch myself and zoom out when making decisions.

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