Wisdom Memo #02

On Evolving, Choosing Your Circle, On Patience, How We Make Online Purchases and more.

Nik Pathran

Sep 10, 2024

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Ideas from Me

On Evolving

We often change ourselves to please others.

But it isn’t growth, it’s self-betrayal.

We are not evolving, we are shape-shifting to avoid rejection.

Authentic growth serves our core values, not other’s expectations.

On Your Circle

Surround yourself with complainers, you'll complain.

Surround yourself with learners, you'll learn.

Surround yourself with achievers, you'll achieve.

Your circle shapes your future.

On Patience, Acceptance & Resignation

Patience is planting seeds in winter, knowing spring will come.

Acceptance is embracing the seasons' natural pace of change.

Resignation is believing it will always remain winter.

On Life

“Life will break you. Nobody can protect you from that, and living alone won’t either, for solitude will also break you with its yearning. You have to love. You have to feel. It is the reason you are here on earth. You are here to risk your heart. You are here to be swallowed up.”
― Louise Erdrich, The Painted Drum

On Loving People

“Most of us must learn to love people and use things rather than loving things and using people.”
― Roy T. Bennett, The Light in the Heart

On Making Better Memories

“In the short term, it would make me happy to go play outside. In the long term, it would make me happier to do well at school and become successful. But in the VERY long term, I know which will make better memories.”
― Bill Watterson, It's a Magical World

What Caught My Eye

How we book a stay on Airbnb - A Study

Study: Effect of crowd wisdom on pricing in the asset-based sharing platform: An attribute substitution perspective by Jie Ren ,Viju Raghupathi, Wullianallur Raghupathi

A 2021 study revealed how users book a stay on Airbnb.

The study highlights how location crowdedness influences decision-making. When booking a stay in a bustling area, you’re likely to prioritize the popularity of a listing. The sheer number of reviews can trigger a “fast thinking” response, leading you to choose a well-reviewed spot without diving deep into the details.

Conversely, in less crowded areas, you might engage in “slow thinking,” where you take the time to analyze the quality of reviews. You may consider factors like the host’s responsiveness or the specifics of the amenities offered. This nuanced approach helps you feel more confident in your choice.

We can extend this idea to other purchases as well. If a product has a high volume of reviews, you'd focus on the overall rating and decide on the purchase. On the other hand, if the product has low reviews, you are more likely to check the valence (whether the review is good or bad) of individual reviews.