Years ago I read a book called "You are now less dumb" that had a lot of these errors in it. It was a simple, easy to read book with a lot of examples. It was much like this video. It opened my eyes to a lot biases that people have. Since reading it, even though it's been years, I notice them a lot in the people around me. Thank you for spreading content like this so more people can be aware of their own logical errors.
That's kinda the same with me since I've started reading the book Feel Good by David Burns. But I also noticed that I make most of the mistakes described in these book once in a while. 🤔🤔
@@raissaquivia5774 oh definitely. I make a lot of the same mistakes too. However, I'm sure you can relate, I catch myself making them sometimes and have the opportunity to ask myself if I bias is influencing my decision. This self awareness is something that a lot of people could benefit from and is only gained by knowledge and acceptance of these biases.
@@Limitless_Pain oh they know that's why they can use it against us so effectively. Experience also plays an important role as these just theories that would work on with enough practice.This is why I don't trust tech salesmen and greedy institutions anymore. They're the worst kind.F them ngl.
This is quality content. The efforts you make to come up with the graphics really helped us to comprehend the discussion better. Please create more and upload frequently!
This is truly top notch and grade A insightful knowledge mixed with the most truth I've heard in a long time makes you want to apply this data when shopping and cross check advertising marketing exe..... truly amazing great work looking forward to your future endeavors
I can’t imagine these graphics matching content are very easy to choreograph, we should be patient I feel. You’re correct tho it would be nice to have content more frequently, but this way each one feels more impactful.
This video hit me hard! I never realized how often my own mind has been leading me down the wrong path without even noticing. The survivorship bias example completely changed how I look at success-it's like I’ve been chasing illusions, not seeing the failures that lie beneath. This is the kind of insight that makes you pause and rethink everything.
Hello everyone... it has been a long 6 months but Mind Trap Decks are Back! If you want to get your hands on one of the Cognitive Mind Trap Decks --- Check them out here : shop.escapingordinary.net/products/54-cognitive-bias-flashcards-1
Trap 11. You only have a piece of the information that you need to evaluate the whole situation, people mostly focus on the winners Trap 12. We take credit for the things that went great and find an excuse fo things that went wrong Trap 13. Judging others on personality while you judge yourself on situational factors like traffic Trap 14. Unconsciously changing your opinions and memories based on an outcome of an event to make it fit reality Trap 15. The Information available to us changes our perspective on the topic leading to overestimating chances (plane crash, being attacked by a shark) Trap 16. An enourmous overreaction over a small problem because it's popular in the media Trap 17. People bound themselves to something they spend money on Trap 18. We draw differnet conclusions based on how the information is presented (99% fat free ; 1% fat) Trap 19. Humas seek rules and patterns from everything even though they most likely don't eixst Trap 20. people underestimate exponential growth (folding a paper 50x would nearly reach the sun) Trap 21. just don't believe these astrology signs lmao
Ah. not a fan of the zodiac? Hmm ... Too bad, I was just about to tell the entire group to stop by the Holiday Inn by the interstate being it's almost the last day to mate and have a Scorpio baby.... My parents made three of us probably all the results of drunken fighting on Valentine's Day and makeup coitus. Just saying..
Really respect this type of content in UA-cam because we as an Animation studio agency know more than others, efforts and hard time to create videos length (22:00) mins!! With this quality. Really this channel is usefull for me.
From my own understanding: (01:09) Survivorship Bias - focusing on success over failures of a situation/thing/place, e.g. "Ronaldo is amazing at free kicks"... but do you know how many he has missed?? (03:43) Self Serving Bias - giving credit and pinning blame arbitrarily, e.g. saying "Ronaldo is an amazing player" when Man Utd win while saying "Man Utd is a bad team" when Ronaldo doesn't play well (04:31) Fundamental Attribution Error - we judge others on their character while attributing our failures and the failures of the ones we love on our environment, e.g. saying "Messi won more trophies because he plays in better teams" while saying "Ronaldo carried Madrid to win 5 UCLs" (05:03) Hindsight Bias - everything seems reasonable and predictable after it happened, e.g. "of course Ronaldo was going to go to Al Nassr he's done" (08:09) Availability Bias - using anecdotes as proof of something, e.g. "Saudi Arabia dominated Messi? Therefore, he's not the GOAT" (10:14) Availability Cascade - snowball effect, e.g. "Messi has misses a penalty > stop giving Messi penalties -> Messi hasn't done a penalty in so long -> Messi should never shoot a penalty again -> Messi should be subbed before a penalty shoot-out -> Messi shouldn't even start the game" (11:55) Sunk Cost Fallacy - I spent so much X on Y so I should invest more into Y before giving up, e.g. "We paid Ronaldo millions to join Man Utd, we shouldn't let him go now before we get our money's worth" even though he's been poor (13:03) The Framing Effect - same info provided half glass full vs half glass empty can sway opinion, e.g. "Ronaldo scored over 12% of chances he got this season!" vs "Ronaldo missed 7 out of 8 chances he got this season : (" (15:08) The Clustering Illusion - seeing patterns that don't exist, e.g. "Ronaldo even looks like a goat" (16:13) Exponential Growth - humans can't comprehend exponential growth, e.g. "Messi got twice as good every year since he was 16" (18:58) Barnum Effect - we tend to match personalities to very general statements, e.g. I can't really come up with an example for this, can someone help me in the comments? I love Ronaldo sorry ❤
I love how the videomaker uses all of the biases to sell their book and brand deals! SO CLEVER! Thank you for this great video! It is truly a life changer!
Excellent video. I subscribed. Correction at 14:48: a 5% cash discount and a 5% credit surcharge are *not* exactly the same. Taking advantage of a 5% cash discount is genuinely more favorable for the customer than avoiding a 5% credit surcharge. Here's why: If I bought $100 worth of gas at a 5% cash discount, I would pay $95. But the alternative of paying $100 by credit card is a 5.26% mark-up from $95. On the other hand, in the credit surcharge scenario, the mark-up from $100 to $105 is only 5%. So *proportionally*, the customer always gets a better deal from the 5% discount. The assumption, above, is that the base price to fill up my gas tank would be $100 in both scenarios. This assumption doesn't necessarily hold because the gas station might have marked up the price to cover merchant credit card fees. However, even if we don't know how the gas station determined the prices, if we go with the odds, taking a 5% cash discount is *still* logically more favorable than avoiding a 5% credit surcharge. That's because it is in the gas station's best interest to display the lowest prices in the first place. If the gas station offers a 5% cash discount, they might have marked up the display price a *little bit*. For example, let's suppose that the credit card company charges the gas station 2.5% of every transaction. In response, the gas station marks up the base price by 2.5%. However, they would be unlikely to mark up the price very much more than 2.5% due to market competition. So the subtotal to fill up my tank would be $102.50. But with a 5% cash discount, I would pay $97.38. On the other hand, if the gas station is charging a 5% surcharge for credit cards, they probably wouldn't have marked up the base price to account for credit card fees. Think about it. Why not lure me (the customer) by making me think my gas will cost $100 then charge me $105 when I pay credit at the pump? And even if I opt for cash instead of credit, I still end up paying $100. No matter how I pay, the gas station with the credit surcharge profits ~$2.50 more than the one with the cash discount. Based on those numbers and the psychological train of thought Escaping Ordinary discussed in the video, the credit surcharge is usually a more effective strategy than the cash discount (from the gas station's point of view). And on the other hand, the cash discount is usually a better deal from the customer's point of view, *no matter how they pay*.
I don't know how supercharge option works, and perhaps my system 2 is in fact too lazy to analyze your comment, so I'll just throw it in the wind - wouldn't discounts urge you to spend more? I mean it's definitely how we want to frame the problem, but imagine it like this : Do benefits apply only on gas prices, or can you benefit from spending in some other way? If you are offered a discount on general valuables, wouldn't you spend more justifying your behavior as " I will save more" ? Discounts urge you to spend, other option does what?
@@TeaRm34paRt That's a really good point. It sounds a bit like the anchoring bias, which is one of the items in the video series. I feel like people intuitively know that the 5% cash discount is a better deal. But maybe they miss the point. I wonder if there's any research on this.
This is absolutely the best description of cognitive biases I've ever seen. The illustrations and examples are totally on point. As a now retired financial advisor, I've always been keenly aware of both helping my clients overcome their biases and also being alert to the mind traps that I, myself, could fall into.
This is beyond anything I've seen so far in terms of information. You've collected impressively, your story telling is amazing and your animations and designs are ON POINT (I'm an animator). This video would take research and planning for over 6 months to make correctly. Hats off man! Keep going!
I like your section on exponential growth as it reminds us anything is possible. I'll keep in mind what you said about the invisible failures in order to continue to pursue my dreams realistically. Thank you
I noticed the first video did not mention ‘Part 1 of 2’. It just says ‘21 mind traps’ for 20 minutes. And at the end of part 1, you told us to continue and watch part 2 for another 20 minutes. If this video was a single video length at 40 minutes, I would definitely not click to watch it. And if it says ‘Part 1 of 2,’ I’d need a pretty good title/click bait to convince me to watch it. Good job on applying these psychology on us. 😆
As someone with ADD and a strict agonizing painful negative biased brain I am looking forward to having this knowledge and hopefully change my me for the better. I sense that I’m insecure and I’ll prob forget all these truth which is fine since I’ll do my best. Thanks for the video I realized how biased I am.
I appreciate your content and what you are teaching is priceless. I hope we use similar lessons for children in school. To start making good habits early in life. It can help in having a great society. I am aware of the hard work you put into these wonderfully animated videos. Highly appreciate your work. Wish you and your channel great success 🙏🏽
I've noticed a lot of comfortable middle class people I grew up with have Self Serving Bias and Fundamental Attribution Error. They worked gard, but they're also the most privileged fortunate people I've ever met. They grew up in stable families, some of them grew up wealthy. They had no health problems, lived near to a good school, worked hard, did well and got good jobs. They met decent men, got married and had children who have no notable problems (that I'm aware of at least). They tend to judge less fortunate people harshly such as anyone single, single mothers, the unemployed, addicts, people with mental health problems etc. I myself used to be similar to them until I got clinical depression which changed how I viewed the world and humbled me a lot. I can't be around them now as I feel too uncomfortable at their incredible good luck, lack of gratitude and arrogance. I definitely have my own cognitive biases too, one is believing rather than observing my own catastrophising thoughts.
This channel really helped me to get to fall in love with reading. Your animation, conciseness, and content are awe-inspiring! I really admire the dedication and research you put into these videos!! Please keep posting the groundbreaking content as usual.
Wow! This is so well done. I've just started studying psychology and I can see how much research has gone into this. Plus the animation, sound effects and editing are incredible! Thanks, I'm so glad i stumbled upon your channel!
This is Kurzgesagt level of quality. Incredible video, feel like I found something amazing with this channel. Definitely deserve at least 5x more subscribers than the current amount.
hey its been a year that you didnt post a video. i just want to let you know that i have shared all of the knowledge and video that you have to my friends that wanted to start self improvement books. this is really a precise and easy to watch breakdown of books, hence i got started to love books for the first time, made me buy (atomic habits) a hardcopy in my local bookstore thank you so much :>
Wow!! The traps that you mentioned are so true. The fact that these things occur to us with out realizing or subconsciously has happened and will happen in the future because most of us will forget these traps as time passes and very few of us will remember and try to change as little as possible. It was really smart of you to promote (advertise) your product keeping in mind our attention span (20 sec). 🔥🔥🔥🔥🔥 Lit content!!!
Wow! This is so well done. I've just started studying psychology and I can see how much research has gone into this. Plus the animation, sound effects and editing are incredible! Thanks, I'm so glad i stumbled upon your channel!
21 Mind Traps : The Ultimate Guide to your most common Thinking errors (Part II) ★★★PART II★★★ (01:09) Mind Trap 11: Survivorship Bias - 11 - Focus on the Winners (03:43) Mind Trap 12: Self Serving Bias - 12 - If Bad Things Happen Don't Blame Me (04:31) Mind Trap 13: Fundamental Attribution Error - 13 - It's Not My Fault (05:03) Mind Trap 14: Hindsight Bias - 14 - Confidence Creating Memory Distorter (08:09) Mind Trap 15: Availability Bias - 15 - The Lens You See The World Through (10:14) Mind Trap 16: Availability Cascade - 16 A Self-Sustaining Chain of Events (11:55) Mind Trap 17: Sunk Cost Fallacy - 17 - The Escalation of Commitment (13:03) Mind Trap 18: The Framing Effect - 18 - It's All About Presentation (15:08) Mind Trap 19: Clustering Illusion - 19 - Faces in the Clouds (16:13) Mind Trap 20: Exponential Growth - 20 - Growth Rate Fallacy (18:58) Mind Trap 21: Barnum Effect - 21 - That Sounds Exactly Like Me God Bless You! Jesus Loves You!
Dude, make more cards! I know I am not the only one out there who would buy them- what a great way to familiarize yourself, colleagues, family and friends with these biases!
this series changed my life,,I am grateful to be here wow…..so much quality…I appreciate these vids so much man…the only channel I would totally support with money
I'd like to leave this comment as a humble offer for the algorithm. I do appreciate the thought and effort that went to make this video. It's like finding a needle on a haystack.
Hello Escaping Ordinary!!!! Your videos have helped me develop a very healthy mindset and habit today! I am always looking forward for your video. I know that your video takes time before it'll be done but I just want to say that we are always looking forward for your next valuable video!!!! As always, please take care and have a good day!!! Looking forward to more of your video :)
There is also a whole field of study on how our brains like to attribute the cause of personal health issues, and we are pretty terrible at it: 1. We have a huge preference for external things or things done to us (certainly not our own behavior or bad habits) 2. We prefer one-time, unusual events (what changed? What was new?) much more than common events that add up to a cumulative harm 3. We prefer unfamiliar things as a cause or as more scary, over familiar things (like if you got a painful blistering red skin from a UV sterilizing machine at work, this would be considered much worse than if you had the same outcome from a sunburn, although essentially the same) 4. We are of course of wary of anything with a chemical name, and if you write our the ingredients of an apple by their scientific names….most people say “no way I would consume that….sounds toxic!” 5. We prefer causes that occurred shortly before symptoms, days to weeks, although the causes of many illnesses take weeks, months or years before symptoms. Many people who have “food poisoning” symptoms worry about what they ate the last meal or yesterday, but most foodborne illnesses take a minimum of 2-3 days, and sometimes weeks, before symptoms appear. 6. We prefer causes (and treatments) we researched and tracked down ourselves, even if other options suggested by healthcare professionals fit or objectively work better
I've also noticed how people think that successful people are the best teachers, but they usually suck at teaching, which is a completely different skill on it's own. Which is why their students rarely, if ever, duplicate their success. And they may be the people who just had less problems to deal with along the way, got luckier, or had extra help, rather than being the smartest people. The failures probably have at least as much to teach, because they are more intimately ware of what went wrong. But no one wants to listen to a failure.
The best example of "availability cascade" is that, when we were younger the chain of terrifying thought comes too mind when our mother is later than usual time and the immediate thought comes too our younger brain is that she is dead.
Your content is highly accurate and I admire the quality. I would really love to Watch other videos on psychology and especially biases that most commonly fool investors
So glad you've returned! I love listening to these - they've saved me so much on reading time and get straight to the point while being thorough. Please keep them up if you can. Would love to donate to a Patreon if it helps
Survivorship Bias is where we get the phrase "Dead men tell no tales"; but it's not just death. e.g.People who were not successful in pursuing their dream vastly outnumber those who were successful; but the successful ones are the ones who do interviews with huge audiences saying that you too can succeed [at something most fail at] if you want it hard enough. What about all the failures? "Guess they didn't want it enough" This bias is the bread and butter of contemporary capitalism. [edit: As I was writing this I was thinking "I probably should have watched his segment on SURVIVORSHIP BIAS before writing this; BUT it bears repeating so... that's my hindsight excuse]
More of top the tier youtube content already? I'm stopping and re-watching some chapters despite knowing the idea from before. So powerful, noteworthy and info-dense material Perhaps consider pauses within the chapters between points made, "effective pauses"🤔 Like during the intermission I feel like many found themselves digesting/self-reflecting.
Hey man just to let you that someone from Angola watch your videos, hands down the best books summary channel on UA-cam and, I am buying your deck of cards :)
Your video on Atomic Habits changed my entire life for the better, thank you so much for your content and I hope you will post more content more often. We’ve missed you.
This is the first video that I have seen from this channel and all I can say is we need more channels with quality and very educational videos like this. Keep up the great work!
I'm in love with what i just watched! This leaves me with so much desire to search and write down my thoughts, examples from my daily life and the life of people surrounding me! It's like having the key to new dimension 😅. I feel the urge to watch this over and over again and take notes ❤
So sad to me that homemade candy/treats aren’t given for Halloween anymore. My mom told me that she used to get the yummiest treats from her neighbors.
Excellent content. The graphics are beautiful and do a great job illustrating your points. I read Thinking Fast and Slow and enjoyed it, but your presentation helped great his points across in a clear way.
The effort included in these graphics is unreal I'm so impressed not to undergrad the infos are being given but I mean the graphics and the taste of the designs are brilliant
Before commenting "Oh my god this video is really good. I gained so much knowledge. Thank You", I asked myself twice that did I really like this video and have gained knowledge from this.
Very interesting and refined content on book, I also like your intro. Please keep up uploading new videos like this I know it's not easy but you make so great content that it's sad waiting you for long. Still waiting for the second part of RICH DAD POOR DAD
This was masterful, the awareness it brings to viewers (myself included) is priceless. Now hopefully, those who've watched these will spread this awareness to others before using it on them 😅 But, as they said, "never trust your intuition about exponential growth rates..."
11. Survivorship Bias 1:07
12. Self-Serving Bias and Fundamental Attribution Error 3:46
13. Hindsight Bias 5:05
14. Availability Bias 8:12
15. Availability Cascade 10:17
16. Sunk Cost Fallacy 11:58
17. The Framing Effect 13:07
18. Clustering Illusion 15:11
19. Exponential Growth 16:17
20. Barnum Effect 19:03
Thank you, completely random netizen.
Thank you, now I don’t need to watch this.
Thank you!
@@Dana__black so you know what all of these mean right?
@@verykerrietv1027 yes 🤓
Years ago I read a book called "You are now less dumb" that had a lot of these errors in it. It was a simple, easy to read book with a lot of examples. It was much like this video. It opened my eyes to a lot biases that people have. Since reading it, even though it's been years, I notice them a lot in the people around me. Thank you for spreading content like this so more people can be aware of their own logical errors.
That's kinda the same with me since I've started reading the book Feel Good by David Burns. But I also noticed that I make most of the mistakes described in these book once in a while. 🤔🤔
@@raissaquivia5774 oh definitely. I make a lot of the same mistakes too. However, I'm sure you can relate, I catch myself making them sometimes and have the opportunity to ask myself if I bias is influencing my decision. This self awareness is something that a lot of people could benefit from and is only gained by knowledge and acceptance of these biases.
@@KenW418 people are way to ignorant to learn new information that could challenge there world views/ beliefs
@Ken W, It's perspective like this that destroys the premise of IQ testing as compared.
You are not so smart website 😎
These videos aren't one off videos. You should save it somewhere and rewatch every once in a while. This can guide you throughout your life.
@@krischalkhanal2842 💯💯
yaa bro
Kinda interesting that alot of these mind traps are usually used against us to sell something 😂
Best part is....the people who used it may not know how or why it works
“alot” isn’t a word. 🙄🤦♂️
Yes, interesting that the profit motive exists.
@@Limitless_Pain oh they know that's why they can use it against us so effectively. Experience also plays an important role as these just theories that would work on with enough practice.This is why I don't trust tech salesmen and greedy institutions anymore. They're the worst kind.F them ngl.
@@Limitless_Pain if it works, it works. No need to know how a computer or phone really works in the hardware to use it
This is quality content. The efforts you make to come up with the graphics really helped us to comprehend the discussion better. Please create more and upload frequently!
Quality or quantity pick your choice there’s only so much information similar to the videos on this channel out there
This is truly top notch and grade A insightful knowledge mixed with the most truth I've heard in a long time makes you want to apply this data when shopping and cross check advertising marketing exe..... truly amazing great work looking forward to your future endeavors
Have you really comprehended the information, or do you just think this way because of effect X which will be covered in the next episode ;D
I can’t imagine these graphics matching content are very easy to choreograph, we should be patient I feel. You’re correct tho it would be nice to have content more frequently, but this way each one feels more impactful.
This video hit me hard! I never realized how often my own mind has been leading me down the wrong path without even noticing. The survivorship bias example completely changed how I look at success-it's like I’ve been chasing illusions, not seeing the failures that lie beneath. This is the kind of insight that makes you pause and rethink everything.
Hello everyone... it has been a long 6 months but Mind Trap Decks are Back!
If you want to get your hands on one of the Cognitive Mind Trap Decks ---
Check them out here : shop.escapingordinary.net/products/54-cognitive-bias-flashcards-1
Waiting for another one of these
Do you have a digital product of this ?
Trap 11. You only have a piece of the information that you need to evaluate the whole situation, people mostly focus on the winners
Trap 12. We take credit for the things that went great and find an excuse fo things that went wrong
Trap 13. Judging others on personality while you judge yourself on situational factors like traffic
Trap 14. Unconsciously changing your opinions and memories based on an outcome of an event to make it fit reality
Trap 15. The Information available to us changes our perspective on the topic leading to overestimating chances (plane crash, being attacked by a shark)
Trap 16. An enourmous overreaction over a small problem because it's popular in the media
Trap 17. People bound themselves to something they spend money on
Trap 18. We draw differnet conclusions based on how the information is presented (99% fat free ; 1% fat)
Trap 19. Humas seek rules and patterns from everything even though they most likely don't eixst
Trap 20. people underestimate exponential growth (folding a paper 50x would nearly reach the sun)
Trap 21. just don't believe these astrology signs lmao
Jan have you done a list of 1 - 10 please?
Ah. not a fan of the zodiac? Hmm ... Too bad, I was just about to tell the entire group to stop by the Holiday Inn by the interstate being it's almost the last day to mate and have a Scorpio baby.... My parents made three of us probably all the results of drunken fighting on Valentine's Day and makeup coitus. Just saying..
It's very interesting but could you tell why you start from Trap 11. Sorry it's not clear for me. Thank you
@@VladimirS38 its the second video of a 2 part video, there is another video of 1 to 10
@@Mr916guy I appreciate your answer and clarification, now I understand, I didn't see that it is Part II. Thank you
The Barnum Effect was the perfect ending for this video, Amazing!
Wow!!!😂😂😂😂😂🎉😂
This video is amazingly professional and compact, to the point. Humorous, too. Deserves to go viral. Humankind would benefit.
bro did just bruh
Really respect this type of content in UA-cam because we as an Animation studio agency know more than others, efforts and hard time to create videos length (22:00) mins!! With this quality. Really this channel is usefull for me.
Clever placement of cluster effect at 16:45 :) Hence, major compliments to the animators of the series! Bravo!
Information like this should be broadcasted everywhere
Whoever sees this message have a nice day!
Thanks ❤
How you doing? It's been a year
No U
You have a nice day as well, person from one year ago.
Thank you.. I needed this today😢
@@SuperNaturalMedicinal thank you
From my own understanding:
(01:09) Survivorship Bias - focusing on success over failures of a situation/thing/place, e.g. "Ronaldo is amazing at free kicks"... but do you know how many he has missed??
(03:43) Self Serving Bias - giving credit and pinning blame arbitrarily, e.g. saying "Ronaldo is an amazing player" when Man Utd win while saying "Man Utd is a bad team" when Ronaldo doesn't play well
(04:31) Fundamental Attribution Error - we judge others on their character while attributing our failures and the failures of the ones we love on our environment, e.g. saying "Messi won more trophies because he plays in better teams" while saying "Ronaldo carried Madrid to win 5 UCLs"
(05:03) Hindsight Bias - everything seems reasonable and predictable after it happened, e.g. "of course Ronaldo was going to go to Al Nassr he's done"
(08:09) Availability Bias - using anecdotes as proof of something, e.g. "Saudi Arabia dominated Messi? Therefore, he's not the GOAT"
(10:14) Availability Cascade - snowball effect, e.g. "Messi has misses a penalty > stop giving Messi penalties -> Messi hasn't done a penalty in so long -> Messi should never shoot a penalty again -> Messi should be subbed before a penalty shoot-out -> Messi shouldn't even start the game"
(11:55) Sunk Cost Fallacy - I spent so much X on Y so I should invest more into Y before giving up, e.g. "We paid Ronaldo millions to join Man Utd, we shouldn't let him go now before we get our money's worth" even though he's been poor
(13:03) The Framing Effect - same info provided half glass full vs half glass empty can sway opinion, e.g. "Ronaldo scored over 12% of chances he got this season!" vs "Ronaldo missed 7 out of 8 chances he got this season : ("
(15:08) The Clustering Illusion - seeing patterns that don't exist, e.g. "Ronaldo even looks like a goat"
(16:13) Exponential Growth - humans can't comprehend exponential growth, e.g. "Messi got twice as good every year since he was 16"
(18:58) Barnum Effect - we tend to match personalities to very general statements, e.g. I can't really come up with an example for this, can someone help me in the comments?
I love Ronaldo sorry ❤
Lol
You're simply one of the best channels on UA-cam.
Quality content with intelligent presentation.
I love how the videomaker uses all of the biases to sell their book and brand deals! SO CLEVER! Thank you for this great video! It is truly a life changer!
One of the BEST content I've ever came across in UA-cam for the past year. Excellent.
Excellent video. I subscribed.
Correction at 14:48: a 5% cash discount and a 5% credit surcharge are *not* exactly the same. Taking advantage of a 5% cash discount is genuinely more favorable for the customer than avoiding a 5% credit surcharge. Here's why:
If I bought $100 worth of gas at a 5% cash discount, I would pay $95. But the alternative of paying $100 by credit card is a 5.26% mark-up from $95.
On the other hand, in the credit surcharge scenario, the mark-up from $100 to $105 is only 5%. So *proportionally*, the customer always gets a better deal from the 5% discount.
The assumption, above, is that the base price to fill up my gas tank would be $100 in both scenarios. This assumption doesn't necessarily hold because the gas station might have marked up the price to cover merchant credit card fees.
However, even if we don't know how the gas station determined the prices, if we go with the odds, taking a 5% cash discount is *still* logically more favorable than avoiding a 5% credit surcharge.
That's because it is in the gas station's best interest to display the lowest prices in the first place.
If the gas station offers a 5% cash discount, they might have marked up the display price a *little bit*. For example, let's suppose that the credit card company charges the gas station 2.5% of every transaction. In response, the gas station marks up the base price by 2.5%. However, they would be unlikely to mark up the price very much more than 2.5% due to market competition.
So the subtotal to fill up my tank would be $102.50. But with a 5% cash discount, I would pay $97.38.
On the other hand, if the gas station is charging a 5% surcharge for credit cards, they probably wouldn't have marked up the base price to account for credit card fees. Think about it. Why not lure me (the customer) by making me think my gas will cost $100 then charge me $105 when I pay credit at the pump? And even if I opt for cash instead of credit, I still end up paying $100.
No matter how I pay, the gas station with the credit surcharge profits ~$2.50 more than the one with the cash discount. Based on those numbers and the psychological train of thought Escaping Ordinary discussed in the video, the credit surcharge is usually a more effective strategy than the cash discount (from the gas station's point of view). And on the other hand, the cash discount is usually a better deal from the customer's point of view, *no matter how they pay*.
Ironic for a video about thinking errors to make a thinking error. I guess everyone is fallible though
I don't know how supercharge option works, and perhaps my system 2 is in fact too lazy to analyze your comment, so I'll just throw it in the wind - wouldn't discounts urge you to spend more? I mean it's definitely how we want to frame the problem, but imagine it like this :
Do benefits apply only on gas prices, or can you benefit from spending in some other way? If you are offered a discount on general valuables, wouldn't you spend more justifying your behavior as " I will save more" ? Discounts urge you to spend, other option does what?
@@TeaRm34paRt That's a really good point. It sounds a bit like the anchoring bias, which is one of the items in the video series.
I feel like people intuitively know that the 5% cash discount is a better deal. But maybe they miss the point. I wonder if there's any research on this.
You stopped seeing the woods for the trees. I think that's a bias too.
That's exactly where I paused the video and came down to see if anyone had noticed.... ha!
The only Mind Trap YOU TUBE!
As an overthinker I'm kinda scared to watch this lol
Don’t think about it
In fact don’t watch it and beat yourself up with anxiety thinking what it could be about
Don't be scared people like this can spot the flaws instead of just letting it pour over you
This is absolutely the best description of cognitive biases I've ever seen. The illustrations and examples are totally on point. As a now retired financial advisor, I've always been keenly aware of both helping my clients overcome their biases and also being alert to the mind traps that I, myself, could fall into.
One of the best youtube channels, the content, the graphics, the summaries all are well chosen and made. Wish you all the best.
Love your channel men! ^^
This is beyond anything I've seen so far in terms of information. You've collected impressively, your story telling is amazing and your animations and designs are ON POINT (I'm an animator). This video would take research and planning for over 6 months to make correctly. Hats off man! Keep going!
can you tell me how to make these types of videos??
I like your section on exponential growth as it reminds us anything is possible. I'll keep in mind what you said about the invisible failures in order to continue to pursue my dreams realistically. Thank you
I noticed the first video did not mention ‘Part 1 of 2’. It just says ‘21 mind traps’ for 20 minutes. And at the end of part 1, you told us to continue and watch part 2 for another 20 minutes.
If this video was a single video length at 40 minutes, I would definitely not click to watch it. And if it says ‘Part 1 of 2,’ I’d need a pretty good title/click bait to convince me to watch it.
Good job on applying these psychology on us. 😆
Please don’t leave us like that again 🙏🏼
Same, please make more videos
@@khanmd21 MK replies to MK 🤔
Really it's sad waiting you for so long
💯
Agreed.✨
Your channel inspired me to read Atomic Habits and since then I have started reading voraciously. Keep reading and keep posting videos. Thank you
Big up the great work. We need more of this!!!
As someone with ADD and a strict agonizing painful negative biased brain I am looking forward to having this knowledge and hopefully change my me for the better. I sense that I’m insecure and I’ll prob forget all these truth which is fine since I’ll do my best. Thanks for the video I realized how biased I am.
I appreciate your content and what you are teaching is priceless. I hope we use similar lessons for children in school. To start making good habits early in life. It can help in having a great society.
I am aware of the hard work you put into these wonderfully animated videos. Highly appreciate your work. Wish you and your channel great success 🙏🏽
You are the best in the area i swear your voice, the script, the animation everything is sick man. Keep up the good work. You are exceptional
I kind of want to make posters of all these and place them on my wall as reminders to myself.
This is the content that most of us deserve. Thankyou! Let's escape the ordinary..
I love everything about this video: the content, the sound and the graphics. You spark curiosity in me
I've noticed a lot of comfortable middle class people I grew up with have Self Serving Bias and Fundamental Attribution Error. They worked gard, but they're also the most privileged fortunate people I've ever met. They grew up in stable families, some of them grew up wealthy. They had no health problems, lived near to a good school, worked hard, did well and got good jobs. They met decent men, got married and had children who have no notable problems (that I'm aware of at least). They tend to judge less fortunate people harshly such as anyone single, single mothers, the unemployed, addicts, people with mental health problems etc. I myself used to be similar to them until I got clinical depression which changed how I viewed the world and humbled me a lot. I can't be around them now as I feel too uncomfortable at their incredible good luck, lack of gratitude and arrogance. I definitely have my own cognitive biases too, one is believing rather than observing my own catastrophising thoughts.
This channel really helped me to get to fall in love with reading. Your animation, conciseness, and content are awe-inspiring! I really admire the dedication and research you put into these videos!! Please keep posting the groundbreaking content as usual.
Thats brilliant!
I hate the animation it's childish and garbagy
this channel is wayyyy to underrated. your content is gold and i can't imagine how much work is behind this. keep up the good work bro!
This channel is unbelievable. So incredibly well done.
Good job putting this together!
Appreciate all the art, animation and timing.
Excellent points and analogies on these mental glitches...
Wow! This is so well done. I've just started studying psychology and I can see how much research has gone into this. Plus the animation, sound effects and editing are incredible! Thanks, I'm so glad i stumbled upon your channel!
This is Kurzgesagt level of quality. Incredible video, feel like I found something amazing with this channel. Definitely deserve at least 5x more subscribers than the current amount.
The quality of these videos is unmatched
Happy you’re back! You make great content! Thank you :)
Stumbled on this gem of a channel,
hey its been a year that you didnt post a video. i just want to let you know that i have shared all of the knowledge and video that you have to my friends that wanted to start self improvement books. this is really a precise and easy to watch breakdown of books, hence i got started to love books for the first time, made me buy (atomic habits) a hardcopy in my local bookstore thank you so much :>
Wow!! The traps that you mentioned are so true. The fact that these things occur to us with out realizing or subconsciously has happened and will happen in the future because most of us will forget these traps as time passes and very few of us will remember and try to change as little as possible.
It was really smart of you to promote (advertise) your product keeping in mind our attention span (20 sec).
🔥🔥🔥🔥🔥 Lit content!!!
Your art is soooooo fabulous ! Good job , man 🎉
I have to say here that the Clustering Illusion is what makes me creative and often I inspire my art. Thank you for your videos, amazing job!
Wow! This is so well done. I've just started studying psychology and I can see how much research has gone into this. Plus the animation, sound effects and editing are incredible! Thanks, I'm so glad i stumbled upon your channel!
Great summary and graphics
21 Mind Traps : The Ultimate Guide to your most common Thinking errors (Part II)
★★★PART II★★★
(01:09) Mind Trap 11: Survivorship Bias - 11 - Focus on the Winners
(03:43) Mind Trap 12: Self Serving Bias - 12 - If Bad Things Happen Don't Blame Me
(04:31) Mind Trap 13: Fundamental Attribution Error - 13 - It's Not My Fault
(05:03) Mind Trap 14: Hindsight Bias - 14 - Confidence Creating Memory Distorter
(08:09) Mind Trap 15: Availability Bias - 15 - The Lens You See The World Through
(10:14) Mind Trap 16: Availability Cascade - 16 A Self-Sustaining Chain of Events
(11:55) Mind Trap 17: Sunk Cost Fallacy - 17 - The Escalation of Commitment
(13:03) Mind Trap 18: The Framing Effect - 18 - It's All About Presentation
(15:08) Mind Trap 19: Clustering Illusion - 19 - Faces in the Clouds
(16:13) Mind Trap 20: Exponential Growth - 20 - Growth Rate Fallacy
(18:58) Mind Trap 21: Barnum Effect - 21 - That Sounds Exactly Like Me
God Bless You! Jesus Loves You!
Thank you
Dude, make more cards! I know I am not the only one out there who would buy them- what a great way to familiarize yourself, colleagues, family and friends with these biases!
this series changed my life,,I am grateful to be here wow…..so much quality…I appreciate these vids so much man…the only channel I would totally support with money
This was one of the best videos I watched in a while. Thank you so much for taking the time and effort for creating such brilliant content!
This is by far the most informing video i have watched in a very long time
I think you spend the perfect amount of time discussing each topic.
I'd like to leave this comment as a humble offer for the algorithm. I do appreciate the thought and effort that went to make this video. It's like finding a needle on a haystack.
Hello Escaping Ordinary!!!! Your videos have helped me develop a very healthy mindset and habit today! I am always looking forward for your video. I know that your video takes time before it'll be done but I just want to say that we are always looking forward for your next valuable video!!!! As always, please take care and have a good day!!! Looking forward to more of your video :)
So glad i found this channel. Well explained, good narrating and entertaining visuals
Thanks
This is insanely good content. Please more. Please more.
I solemnly acknowledge that I have all 21 biases. Even more whose names I do not know.
There is also a whole field of study on how our brains like to attribute the cause of personal health issues, and we are pretty terrible at it:
1. We have a huge preference for external things or things done to us (certainly not our own behavior or bad habits)
2. We prefer one-time, unusual events (what changed? What was new?) much more than common events that add up to a cumulative harm
3. We prefer unfamiliar things as a cause or as more scary, over familiar things (like if you got a painful blistering red skin from a UV sterilizing machine at work, this would be considered much worse than if you had the same outcome from a sunburn, although essentially the same)
4. We are of course of wary of anything with a chemical name, and if you write our the ingredients of an apple by their scientific names….most people say “no way I would consume that….sounds toxic!”
5. We prefer causes that occurred shortly before symptoms, days to weeks, although the causes of many illnesses take weeks, months or years before symptoms. Many people who have “food poisoning” symptoms worry about what they ate the last meal or yesterday, but most foodborne illnesses take a minimum of 2-3 days, and sometimes weeks, before symptoms appear.
6. We prefer causes (and treatments) we researched and tracked down ourselves, even if other options suggested by healthcare professionals fit or objectively work better
I've also noticed how people think that successful people are the best teachers, but they usually suck at teaching, which is a completely different skill on it's own. Which is why their students rarely, if ever, duplicate their success. And they may be the people who just had less problems to deal with along the way, got luckier, or had extra help, rather than being the smartest people. The failures probably have at least as much to teach, because they are more intimately ware of what went wrong. But no one wants to listen to a failure.
The best example of "availability cascade" is that, when we were younger the chain of terrifying thought comes too mind when our mother is later than usual time and the immediate thought comes too our younger brain is that she is dead.
Your content is highly accurate and I admire the quality. I would really love to Watch other videos on psychology and especially biases that most commonly fool investors
So glad you've returned! I love listening to these - they've saved me so much on reading time and get straight to the point while being thorough. Please keep them up if you can. Would love to donate to a Patreon if it helps
Thanks!
why did you donate?
@@krisu1013 because I love this product ❤️
This is great! I also really like your Study Notes videos. I hope you have time to do more content this year!
Survivorship Bias is where we get the phrase "Dead men tell no tales"; but it's not just death. e.g.People who were not successful in pursuing their dream vastly outnumber those who were successful; but the successful ones are the ones who do interviews with huge audiences saying that you too can succeed [at something most fail at] if you want it hard enough. What about all the failures? "Guess they didn't want it enough" This bias is the bread and butter of contemporary capitalism.
[edit: As I was writing this I was thinking "I probably should have watched his segment on SURVIVORSHIP BIAS before writing this; BUT it bears repeating so... that's my hindsight excuse]
More of top the tier youtube content already?
I'm stopping and re-watching some chapters despite knowing the idea from before. So powerful, noteworthy and info-dense material
Perhaps consider pauses within the chapters between points made, "effective pauses"🤔
Like during the intermission I feel like many found themselves digesting/self-reflecting.
Hey man just to let you that someone from Angola watch your videos, hands down the best books summary channel on UA-cam and, I am buying your deck of cards :)
Your video on Atomic Habits changed my entire life for the better, thank you so much for your content and I hope you will post more content more often. We’ve missed you.
This is brilliant and an eye opener. I have been sleeping on this channel. Thank you for consolidating and presenting these views and concepts. 👏
This was really well done! Keep up the great work, the world needs more content like this.
6:00 I agree, exponential growth always confuses me when making plans. It's hard to guestimate.
It’s incredible how many thinking biases cause arguments and relationship issues.
Thanks!
You are insanely amazing, that's the goof content I'm looking for.
You're gonna reach amazing results further down the line.
The animation quality and flow when describing these mind traps conveys the message implied better than any language.
This is the first video that I have seen from this channel and all I can say is we need more channels with quality and very educational videos like this. Keep up the great work!
Thank you for returning!!!! I’ve been waiting 🥰🥰
Thank you for doing these two videos. I appreciate both the attention to detail and the effort to make complex ideas easily understood.
I'm in love with what i just watched! This leaves me with so much desire to search and write down my thoughts, examples from my daily life and the life of people surrounding me! It's like having the key to new dimension 😅. I feel the urge to watch this over and over again and take notes ❤
Thank you for your great efforts
Actually one of the greatest content I have ever seen on UA-cam
Please keep going man
One of the best channels is back guys 👊
So sad to me that homemade candy/treats aren’t given for Halloween anymore. My mom told me that she used to get the yummiest treats from her neighbors.
You're one of the few channels that combine good execution with awesome visuals. Keep it up
Just be optimistic and put 110% in anything u want in life any goal
I guess editing team is into breaking bad , I wish you success and luck for bettering our lives through your service .
Excellent content. The graphics are beautiful and do a great job illustrating your points. I read Thinking Fast and Slow and enjoyed it, but your presentation helped great his points across in a clear way.
The effort included in these graphics is unreal I'm so impressed not to undergrad the infos are being given but I mean the graphics and the taste of the designs are brilliant
I appreciate your understanding of the concepts and the presentation that you've put in front of us. Good Job
Not just sell... also influence us, or create chaos in society, but also positvely like awareness. Unity against certain actions
I have never seen such a quality content 🥰
Before commenting "Oh my god this video is really good. I gained so much knowledge. Thank You", I asked myself twice that did I really like this video and have gained knowledge from this.
Very interesting and refined content on book, I also like your intro. Please keep up uploading new videos like this I know it's not easy but you make so great content that it's sad waiting you for long. Still waiting for the second part of RICH DAD POOR DAD
I really love that music i wanna listen to it so bad... But it's not in the description :(
Awesome videos, both the first and second! Thanks for sharing and explaining.
This was masterful, the awareness it brings to viewers (myself included) is priceless. Now hopefully, those who've watched these will spread this awareness to others before using it on them 😅 But, as they said, "never trust your intuition about exponential growth rates..."