[00:00 - 00:09] All attendees have the goal of figuring out how to go full time on their idea

[00:36 - 00:42]Within 11 weeks, some will figure it out, others may take longer

[00:50 - 00:55]Success won't happen automatically, certain actions must be taken

[00:57 - 01:10]Learning about focus, asking for help, finding true fans, and selling authentically

[01:25 - 01:34]The most important thing is making good decisions

[03:28 - 03:35]Three-step process: gather data, apply judgment, make decision

[05:20 - 05:30]Good judgment is the most valuable trait in the world

[05:32 - 05:40]Principle 1: When long term is unclear, focus on making good short-term decisions

[06:13 - 06:21]Example of Declan and Derek, Adam

[09:31 - 09:37]Principle 2: Weigh potential upside versus downside

[09:39 - 09:47]Example of Kat

[00:00 - 09:59]Attendees at SF2 have the goal of going full time on their idea. Success won't happen automatically, but by making good decisions and taking certain actions. This involves a three-step process and weighing potential upside versus downside.

[09:59 - 10:07]A concern is brought up by a woman named Kat, and the speaker responds by discussing the pros and cons of the situation.

[11:16 - 11:25]The speaker also brings up the idea of best case scenario and worst case scenario in decision making.

[12:22 - 12:30]They give an example of Karim's decision to pivot from a successful food truck business to selling foot traffic data and discuss the upside and downside of each option.

[13:59 - 14:06]The third principle is introduced: if a decision is emotional, don't pretend it's logical.

[13:59 - 14:06]The importance of being honest with oneself about the emotional aspect of decision making is emphasized.

[16:04 - 16:09]The overall message is to be aware of the emotional aspect of decision making and to be honest about it.

[16:33 - 16:40]The speaker advises taking more time for significant decisions and questioning if a break is needed or if there is a pattern in the decision making.

[17:37 - 17:45]They also share personal experiences of struggling with the decision to keep pushing or take a break.

[18:01 - 18:08]The speaker gives an example of people rationalizing their decisions to make a bold move instead of admitting their impatience.

[18:24 - 18:31]The idea of trusting one's gut in smaller decisions is mentioned.

[09:59 - 18:31]Decision making involves considering pros and cons, best and worst case scenarios, and being honest about the emotional aspect. Taking a break and questioning patterns in decision making can also be helpful.

[18:32 - 18:40]If making a decision that could affect you for years or quitting a job, give it more time

[18:49 - 18:58]Principal 4: When in doubt, do the math

[19:25 - 19:31]Example of using math to determine if a new idea is worth pursuing

[19:38 - 19:48]Use a spreadsheet to estimate potential customers, cost, and delivery time

[20:30 - 20:36]This approach can be done quickly and has been used for 100 business models

[25:53 - 26:02]Time boxing is important when making decisions

[26:16 - 26:23]Set parameters such as time and price and work backwards from there

[26:24 - 26:30]When in doubt, do the math and use a spreadsheet to estimate potential success

[26:24 - 26:30]Use math to determine if an idea is worth pursuing and can be done quickly

[26:35 - 26:43]Principal 5: Deciding to do more than one thing at a time can lead to failure

[26:35 - 26:43]Deciding to do more than one thing at a time can result in failure

[26:35 - 26:43]Giving decisions more time is important for long-term effects

[26:35 - 26:43]Deciding to do more than one thing at a time can lead to failure

[26:35 - 26:43]Time boxing and setting parameters is important when making decisions

[18:32 - 26:43]Use math and a spreadsheet to estimate potential success and make decisions, giving them more time and avoiding multitasking to prevent failure.

[27:38 - 27:45] The speaker has a caveat about doing multiple things at once and recommends avoiding it.

[30:45 - 30:52]One person shares their personal experience of switching between creative tasks to stay engaged.

[30:54 - 31:03]The speaker asks for reactions to this principle and most people agree that doing two things at once is hard.

[30:54 - 31:03]The speaker suggests picking one thing to focus on when faced with multiple difficult challenges.

[31:03 - 31:09]Examples of trying to do multiple things at once are given, such as making music while making a film.

[32:50 - 32:55]Time is a form of currency and should be treated as an investment in decision making.

[32:57 - 33:04]Various ways to spend 60 hours of work time are listed and time should be valued as a precious, non-renewable resource.

[34:10 - 34:20]The speaker asks who thinks about the time they spend and one person shares their experience of becoming more mindful of time.

[34:51 - 35:09]The accuracy of time estimates is important in decision making.

[35:33 - 35:42]Time should be valued, even down to five minutes.

[26:44 - 35:42]It can be difficult and not ideal to try and do multiple things at once, and time should be treated as a valuable resource that should be invested wisely in decision making.

[35:42 - 35:49] Time is a precious commodity in conversation

[35:51 - 35:58]As a contractor, time is equal

[36:05 - 36:21]Time can be visualized in terms of value and usefulness

[36:21 - 36:26]Energy levels are more important than time

[36:46 - 36:53]The value of time is contextual

[38:58 - 39:04]Probability can be applied to decisions

[39:20 - 39:26]The value of outcomes should be considered in relation to their probability

[40:59 - 41:08]Personal risk tolerance should also be considered

[42:02 - 42:17]It is important to be objective and aware in decision-making

[43:09 - 43:18]You will never know if a decision is good or bad until later

[43:09 - 43:18]Principles can be used to make decisions

[43:30 - 43:39]Life is complex and learning and improvement are important

[44:36 - 44:45]Leaving a job may be a good long-term decision, but can have negative short-term effects

[35:42 - 44:45]In summary, time is precious, probability should be considered in decision-making, and learning and improvement are important in the complex nature of life.

[44:45 - 44:53] Narrator reflects on a past job that may have been good but didn't work out

[44:53 - 45:09]Emphasizes the use of tools and principles for decision making

[44:53 - 45:09]Acknowledges that decision making is ultimately just guessing and trying to add order to chaos

[45:35 - 45:40]Acknowledges that everyone's approach to decision making and work-life balance is different

[45:41 - 45:51]Personal struggle with separating work and nature, but finds it necessary for productivity

[47:10 - 47:28]Mentions need for feedback and implementing minor adjustments

[48:02 - 48:17]Quotes Neil Gaiman on taking feedback and being honest with oneself about decisions

[48:53 - 49:00]Notes that it's important to consider the impact of a decision and not make impulsive choices

[49:13 - 49:20]Advocates for taking time for important decisions and being mindful of luck

[50:06 - 50:20]Personal experience with handling lack of sleep and prioritizing work

[52:29 - 52:38]Acknowledges the role of luck in decision making

[44:45 - 53:00]the use of tools and principles for decision making, the importance of feedback and being honest with oneself, and the role of luck in decision making.

[53:01 - 53:08]Speaker expresses uncertainty about a topic

[53:09 - 53:15]Reference to a lucky break and high risk

[53:09 - 53:15]Implying that luck may not last

[53:16 - 53:22]Moving back to zero

[53:22 - 53:27]No further discussion or input from others

[53:01 - 53:27]Speaker discusses their belief in luck and its potential impact on success.