Is Success Luck or Hard Work? | Summary and Q&A

TL;DR

Our egocentric bias leads us to overestimate our contributions and underestimate the influence of luck on our success, which can distort our view of reality and make us less inclined to give back.

Key Insights

• 🤞 Egocentric bias causes individuals to overestimate their own contributions and underestimate the influence of luck and others.
• 🙈 Luck plays a significant role in success, as seen in the effect of birthdates on becoming a professional hockey player.
• 💦 Being talented and hard-working is important, but catching a lucky break is essential for success in competitive environments.
• 🥺 Successful individuals often overlook their lucky breaks and have a distorted view of reality, leading to a lack of generosity.
• 😀 Recognizing our fortunate circumstances can make us more likeable and happier.
• 🙈 Society's perceptions of success often ignore the role of luck, which can contribute to inequality and a lack of empathy.
• 🤞 Believing in our own control over our destiny while recognizing the influence of luck is paradoxical but essential for success.

Transcript

During the COVID lockdown, this headline went viral: "Nearly half of men say they do most of the homeschooling... ...three percent of women agree." I bring this up not to debate who's right, but because it's a great example of something called egocentric bias: Most people think they do most of the work. For example, researchers have asked authors o... Read More

Questions & Answers

Q: Why do people tend to overestimate their contributions and underestimate the influence of others?

Our egocentric bias causes us to vividly remember and experience all that we do, but not everything others do. This bias leads us to believe that we do more work and cause more problems than we actually do.

Q: What is the significance of birthdates in becoming a professional hockey player?

The cutoff date for kids' hockey leagues being January 1st creates an advantage for those born earlier in the year. These individuals are often bigger, faster, and receive more opportunities for coaching, leading to a higher likelihood of becoming professional hockey players.

Q: How does luck play into the selection process for astronauts?

Even with luck accounting for just 5% of the outcome, simulations show that 9 or 10 out of the 11 selected astronauts would have been different if luck played no role. Being talented and hard-working is important, but catching a lucky break is essential for success in competitive fields.

Q: How does recognizing our good fortune make us more likeable?

Studies have shown that when individuals acknowledge the role of luck in their success, people perceive them as kinder and are more likely to want to be friends with them. Recognizing and expressing gratitude for fortunate events can make us more likeable and happier.

Summary & Key Takeaways

• People have a tendency to believe they do more work and cause more problems than others, due to egocentric bias.

• Luck plays a significant role in success, such as the effect of birthdates on becoming a professional hockey player.

• Being talented and hard-working is important, but catching a lucky break is essential for success in competitive environments.

• Successful individuals often overlook their lucky breaks, leading to a distorted view of reality and a lack of generosity.