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The problem is that it's usually difficult to find out what the most effective way is, like which crop to prioritize. I often understand what that is afterward, and then it's too late.
I understand the 80:20 rule differently, so this example doesn't make sense to me. I would rather describe it like: - 20% effort - 80% result - other 80% effort - other 20% result
80% of the money. On my farm flowers are the biggest ticket item, but to sell them I also need tomatoes and stuff to draw people in. The produce takes more time and effort
80% of the harvest comes from 20% of the crops?? I am pretty sure that one seed gives you one plant so 80% of the harvest comes from 80% of the crops. This principle does not tell us anything about priorities but about effectiveness. It basically says it's okay if you are not planting and caring perfectly about the plants because if you only do 20% from the amount to be perfect you still get 80% of the perfect return value. Why do you make mistakes so often?
"In economics, the term pork cycle, hog cycle, or cattle cycle describes the phenomenon of cyclical fluctuations of supply and prices in livestock markets. "
🎙 If you liked this, check out my weekly podcast, Deep Dive where I interview entrepreneurs, creators and other inspiring people - ua-cam.com/users/DeepDivewithAliAbdaal
Hi
@Ali Abdaal
How did you put this comment 20 hours ago when the video was post 40 minutes ago
This story is from THE 4 HOUR WORK WEEK. ☺️☺️☺️
Again, props to the editor 👌🏼
Always 🙏
😢 how to learn??
@@etherr69 practise or outsource 😄
@@etherr69 practice and put your soul in it. And when I say SOUL, I mean it. There's no other way, atleast now.
@@gusneverdied practice with which softwares or app??
This came to me when I needed 🎉
The problem is that it's usually difficult to find out what the most effective way is, like which crop to prioritize. I often understand what that is afterward, and then it's too late.
I love your contents Ali.. very educational 👏🏼👏🏼👏🏼
Simple but yet so helpful 🙏🏾
My last job was straight commission. Sometimes I would do 99% of the work but the person who did 1% got the credit and the pay
Incredible short Team Abdaal 🙏🏼❤️
Ali Abdal is too quick for me! -)
The pareto principle will get you by in life, but it doesn't have room for improving. If that's your focus, that's what you'll get.
Pareto must be done once you have solid foundation/fundamentals
Why doesn't it have leave room for improvement?
Tell me you don't understand cause and effect without telling me you don't.
What is cause and effect? I forgot
the problem now is to know what is the important part that need to be focused on.
nice way of applying the core concept of economics in real life.
I’m applying that right now😂
Omg! The last time I heard this principle was 2014.😂 Trauma recall😅
Where's your homework ?
Educator par excellence !!!
I understand the 80:20 rule differently, so this example doesn't make sense to me.
I would rather describe it like:
- 20% effort - 80% result
- other 80% effort - other 20% result
Jea you are right he got it absolutely wrong
I read this in the 4 hour work week
That's the best thing i have ever heard
Wifredo Pareto is an italian who found pareto effect.
80% of the harvest will come from 20% of the crops... Really? 🤔
80% of the money. On my farm flowers are the biggest ticket item, but to sell them I also need tomatoes and stuff to draw people in. The produce takes more time and effort
But that's not what the principle or the video says
@@jenstrudenau9134 So I'm not the only mildly confused one 😁
No. This is not how farming works whatsoever.
Sounds like justification for inequality and optimization
And I was like whicher one will go rot first should be harvested first so can harvest both and have the best result
Ali is like a non-toxic, wholesome version of Andrew Tate
And even languages. Pareto principle and Zipf's law are very similar. Wanna cover that? Great work with the shorts dude.
It's better to be on Vsauce than incorrectly explained here.
yep
Why are the eyes of the farmer blocked out? 🤔
80% of the harvest comes from 20% of the crops??
I am pretty sure that one seed gives you one plant so 80% of the harvest comes from 80% of the crops.
This principle does not tell us anything about priorities but about effectiveness. It basically says it's okay if you are not planting and caring perfectly about the plants because if you only do 20% from the amount to be perfect you still get 80% of the perfect return value.
Why do you make mistakes so often?
Yeah, farming doesn't work the way he explained it at all.
Exactly
Does anybody know which program was used to make this edit?
Whoops, wrong Pareto. This example should be used to explain the Pareto Efficient Frontier.
Me with ADHD: LOOOL OKAY AND HOW?
jUsT fOcUs It'S sImPlE lOl
@@triventilatoro 😆😆😆
If everyone does this, then won’t supply of the less valuable crop decrease, which would increase the value of it?
"In economics, the term pork cycle, hog cycle, or cattle cycle describes the phenomenon of cyclical fluctuations of supply and prices in livestock markets. "
Ali were you valedictorian at Cambridge?
Bro how do you edit your videos i wanna learn so bad. Let me pay you if that's the case man please
This is exactly what elon did in X
someone should test this in stardew valley
YEARLYYY🎉
Very good but please next time try to speak slowly for the slow learners😊
this is true for challenges too or? 20% of the obstacles will become 80% of the problem later on
didn't we all already know this?
This guy acts sounds and kind of looks like that one other guy
❤
6 th