S1: There's a really cool concept that I always come back
S1: around to, which is the oscillation in life between explore
S1: and exploit. A good example of this is trying new restaurants.
S1: When you try a new restaurant, you're taking a risk
S1: that it could be bad for the potential reward of
S1: it being better than anything you've ever had. Once you've
S1: tried enough restaurants, you eventually have a list of them
S1: that you know you'll like. So they're kind of known goods.
S1: And when you decide to use one of those known goods,
S1: you're now in exploitation mode. So the key point here
S1: is that if you do too much of either of these,
S1: exploring or exploiting it reduces your overall enjoyment. There's another
S1: way I frame this a long time ago, which is
S1: pattern versus novelty. And the example I use there is
S1: for music. So my go to is like a melody
S1: or a hook and a song, which the song keeps
S1: coming back to. That's the pattern. And then there's the
S1: unique things in the song as well, most importantly the
S1: lyrics and maybe the tone or maybe the performance of
S1: the artist. And those would be the novelty. But once again,
S1: it's the oscillation between the two that's necessary. People love
S1: familiar patterns, but if you do too much of it,
S1: it becomes boring. People also love novelty, unique sounds and
S1: ideas and tastes and lyrics and voices or whatever. But
S1: within novelty, if there's too much of it, or if
S1: it goes for too long, they eventually search for a
S1: pattern so that it feels familiar. So they have something
S1: to anchor on. Too much novelty. And you want patterns.
S1: Too much pattern. And you want novelty, too much exploit
S1: going to your favorite restaurants. And you'll want to seek
S1: to explore, to try something new. Too much. Explore looking
S1: for new restaurants, but keep getting disappointed every once in
S1: a while or too often, and you just want to
S1: go to someplace that you know you will like. Here
S1: are some other examples in relationships. Taking your spouse to
S1: your favorite restaurant few times a year, but constantly surprising
S1: her with new restaurants as well. In content creation, it's
S1: great to have new content and ideas all the time
S1: coming from a creator, but we also love when our
S1: creator has like a catchphrase or a familiar sound associated
S1: with the videos or the podcast or whatever, or a
S1: logo present in the stuff. Romance. You have known goods,
S1: but you want excitement as well. Business customers know you're
S1: trustworthy and dependable if they see your logo, but they
S1: know you're also releasing new things as well. So yeah,
S1: I see this as a really powerful concept for thinking
S1: about how to get the most out of life, but
S1: also to provide the most value as well. And now
S1: that you've heard it, you're probably going to see it everywhere.