Shortform Books

Game Theory: The Nash Equilibrium Explained

What is the “Nash equilibrium”? How do you calculate the Nash equilibrium? One of the most important concepts in game theory is the “Nash equilibrium”—a theoretical game state in which every player is fully aware of their opponents’ strategies yet sees no need to change their own. The game becomes stable and unchanging because everyone has settled into the best possible strategy available to them. If you can calculate an equilibrium, you can predict the inevitable stable outcome of any game’s rules and incentives. Keep reading to learn about the concept of the “Nash equilibrium” and how it is used in

Why You Must First Fail to Succeed

How to Deal With Failure at Work and Build Resilience

How do you deal with failure? How can embracing failure help you on the way to success? Most of us will do anything we can to avoid failure—it’s embarrassing and painful. However, to achieve success, you’ll need to fail a few times. Every failure teaches you how not to do something and forces you to come up with ideas you wouldn’t have normally thought of. Here is why you must fail to succeed.

The Dalai Lama’s Advice for Anger Management

How do you deal with anger? Is it ever a good idea to express your anger? According to the Dalai Lama, anger is a destructive emotion that stems from ignorance. If you struggle with anger issues, he counsels, you must first understand where your anger stems from and if it’s justified. Then, use patience and tolerance to neutralize it. You may not be able to completely eradicate it, but you can at least reduce your anger’s potency. Here’s how to deal with anger, according to His Holiness the Dalai Lama.

3 Best Practices to Prevent Employee Poaching

Are you worried that another company will poach your best employees? How can you convince employees to stay with your company? Netflix CEO Reed Hastings wrote in his book No Rules Rules that there are three ways to prevent employee poaching: paying top-of-market salaries, eliminating performance-based bonuses, and giving raises that reflect market value. Some of these methods may be difficult but it’s important to remember that good employees are investments, not tools. Here’s an overview of each of the three methods.

What Makes a Habit?—Cue, Routine, & Reward

Why does smoking cigarettes turn into a habit but changing a tire doesn’t? What makes a habit form in the brain? According to Charles Duhigg, the author of The Power of Habit, habits need three elements to form: a cue, a routine, and a reward. Once these three elements are in place, a habit is reinforced by craving—the anticipation of the reward when you perceive the cue. Continue reading to learn what makes a habit.

How to Have a Positive Attitude—in Sales and in Life

How much does attitude matter in sales? How much can you outperform the competition by cultivating positivity? Jeffrey Gitomer, in the bestseller The Sales Bible, discusses the importance of attitude when it comes to success in sales. He outlines three traits that positive people have, and he shares three ways to foster a positive attitude. Continue reading to learn how to have a positive attitude in sales and in life.

The Obstacle Is the Way: Stoicism Applied

What does Ryan Holiday’s The Obstacle Is the Way teach about Stoicism? What is the key message to take away from the book? Ryan Holiday’s The Obstacle Is the Way is Stoicism applied. The key premise can be distilled into two basic truths: 1) no event is inherently good or bad, and 2) you can choose to see every problem as an opportunity. These truths are Holiday’s foundational beliefs about the world that lead him to conclude that you can transform any problem into an opportunity that benefits you. Keep reading to learn about the key premise of Ryan Holiday’s

The Dalai Lama’s Tips for Overcoming Anxiety

Do you often feel anxious? What causes anxiety, and how do you overcome it? According to the Dalai Lama, anxiety, like all negative emotions, stems from ignorance. If you struggle with anxiety, educate yourself about where the anxiety comes from and whether it’s valid, recommends the Dalai Lama. Here’s how to deal with anxiety, according to His Holiness the Dalai Lama.

Netflix’s Management Strategy Explained

What is Netflix’s management strategy? How can such a huge company remain successful with so few policies? Netflix’s CEO Reed Hastings believes that employees should have as much autonomy as possible. That’s why he aims to eliminate controls so employees have the power to act in the company’s best interest without a long and complicated approval process. Here are the three benefits of Netflix’s lenient management strategy.

How to Solve Complex Problems: Embrace Imperfection

How do you approach problem-solving in day-to-day life? What do you do when faced with a complex problem—one that has no obvious solutions? Some daily problems seem impossible to solve—for example, complex optimization problems in which you need to find the optimal arrangement of a set of variables to achieve the best outcome under specific constraints. If you’re trying to purchase the cheapest airline tickets available that get you the most vacation days with good weather or trying to minimize risk in your investment portfolio, you’re solving an optimization problem. Here is how to solve complex problems with no obvious