Indra Nooyi: Lessons from the Top of PepsiCo—and the Cost of Getting There

Michael Mauboussin returns for a fascinating encore interview on the Knowledge Project. We geek out on decision making, luck vs. skill, work life balance, and so much more. *** Michael Mauboussin is back as a returning guest on the Knowledge Project! He was actually the very first guest on the podcast when it was still very much an experiment. I enjoyed it so much, I decided to continue with the show. (If you missed his last interview, you can listen to it here, or if you’re a member of The Learning Community, you can download a transcript.) Michael is one of my very favorite people to talk to, and I couldn’t wait to pick up right where we left off. In this interview, Michael and I dive deep into some of the topics we care most about here at Farnam Street, including: The concept of “base rates” and how they can help us make far better decisions and avoid the pain and consequences of making poor choices. How to know where you land on the luck/skill continuum and why it matters Michael’s advice on creating a systematic decision-making process in your organization to improve outcomes. The two most important elements of any decision-making process How to train your intuition to be one of your most powerful assets instead of a dangerous liability The three tests Michael uses in his company to determine the health and financial stability of his environment Why “algorithm aversion” is creating such headaches in many organizations and how to help your teams overcome it, so you can make more rapid progress The most impactful books that he’s read since we last spoke, is reading habits, and the strategies he uses to get the most of every book The importance of sleep in Michael's’ life to make sure his body and mind are running at peak efficiency His greatest failures and what he learned from them How Michael and his wife raised their kids and the unique parenting style they adopted How Michael defines happiness and the decisions he makes to maximize the joy in his life Any one of those insights alone is worth a listen, so I think you’re really going to enjoy this interview. Go Premium: Members get early access, ad-free episodes, hand-edited transcripts, searchable transcripts, member-only episodes, and more. Sign up at: https://fs.blog/membership/   Every Sunday our newsletter shares timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/   Follow Shane on Twitter at: https://twitter.com/ShaneAParrish   Learn more about your ad choices. Visit megaphone.fm/adchoices

23 Jan 20181h 17min

Negotiation expert Chris Voss teaches a masterclass on the art of negotiation. Chris is the former lead international kidnapping negotiator at the Federal Bureau of Investigation.   Go Premium: Members get early access, ad-free episodes, hand-edited transcripts, searchable transcripts, member-only episodes, and more. Sign up at: https://fs.blog/membership/   Every Sunday our newsletter shares timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/   Follow Shane on Twitter at: https://twitter.com/ShaneAParrish   Learn more about your ad choices. Visit megaphone.fm/adchoices

3 Jan 20181h 23min

The quality of your outcome depends on the quality of your questions. Through asking the right questions we can spark innovation and creativity, gain deeper knowledge in the topics that are most important to us, and propel us forward in our personal and professional pursuits. Yet very few of us do it well — if we do it at all. My guest on the podcast today is Warren Berger — journalist, speaker, best selling author, and self-proclaimed questionologist. His insightful book A More Beautiful Question shows how the world’s leading innovators, education leaders, creative thinkers, and red-hot start-ups ask game-changing questions to nurture creativity, solve problems, and create new possibilities. In this episode, we discuss the importance of asking the right questions, why they’re critical to your success, and how you may be one great question away from a major breakthrough. You’ll also learn: How Warren manages the constant input and stimulation from online consumption when it’s time to create. The small habits that pack the biggest punch and make the most difference in Warren’s life What makes a question more or less effective How to create a culture where questions are welcome and encouraged Why answering all your kids’ questions may be doing them a disservice — and what to do instead What “collaborative inquiry” is and how to use it to get the most out of your teams in the workplace How Warren transformed one of his most painful failures into one of his most proud achievements Why Warren insists that everyone is creative, and what we can do to fan the flames of our own creativity If you think you could improve the quality (and frequency) of your questions to enhance key areas of your life, this is not a conversation you’ll want to miss.   Go Premium: Members get early access, ad-free episodes, hand-edited transcripts, searchable transcripts, member-only episodes, and more. Sign up at: https://fs.blog/membership/   Every Sunday our newsletter shares timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/   Follow Shane on Twitter at: https://twitter.com/ShaneAParrish Learn more about your ad choices. Visit megaphone.fm/adchoices

14 Dec 20171h 23min

It seems that nowadays, aside from religion and politics, one of the most hotly debated topics is that of nutrition. Should we eat high carb diets? Low carb? High fat? High protein? What about wheat or gluten? Should we eat meat or adopt a vegan diet? There are as many opinions as there are people — and books, magazines and websites are overflowing with information showing you the “right” way to eat and exercise to lose weight. But if “eating less and moving more” is all it takes to lose weight and enjoy a healthy lifestyle, why are so many of us fat and getting fatter? In this episode, I chat with Gary Taubes, bestselling author of three books, The Case Against Sugar (2016), Why We Get Fat and What to Do About It (2011) and Good Calories, Bad Calories (2007). We talk about the sharp rise of obesity and diabetes in America, the structural hurdles to effective nutrition research, and explore the common myth that a calorie is just a calorie. Here are a few other things you’ll learn in this interview: How diets shifted in the last century, and what impact it’s having on our bodies today. Why a carb isn’t just a carb — and why you should know the difference Is the sugar industry the new Big Tobacco? What role genetics play in our health, and how much is under our control Why humans are so attracted to sugar and how to break the habit Gary’s suggestions to improve your health, drop body fat and feel terrific The benefits of fasting and how you can try it out yourself And a bunch more. If you think at all about your health, give this podcast a listen.    Go Premium: Members get early access, ad-free episodes, hand-edited transcripts, searchable transcripts, member-only episodes, and more. Sign up at: https://fs.blog/membership/   Every Sunday our newsletter shares timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/   Follow Shane on Twitter at: https://twitter.com/ShaneAParrish Learn more about your ad choices. Visit megaphone.fm/adchoices

30 Nov 20171h 44min

For decades, introversion was looked at as something to overcome, almost like an illness. The way to win in life was through charisma, outspokenness, and self-promotion. Even now, in an increasingly noisy world, introverts may feel added pressure to take one of two paths: force themselves into more extroverted behavior, or become even more reserved and shrink back to themselves. My guest Susan Cain says both paths are wrong and in fact, rob the world of the unique contributions introverts make when they choose to be true to themselves. Susan knows what she’s talking about. A self-proclaimed introvert, she wrote the New York Times bestselling book, Quiet: The Power of Introverts in a World that Can't Stop Talking and delivered one of the most popular TED talks ever delivered, with nearly 18 million views to date. Whether you consider yourself an extrovert, an introvert, or an ambivert (those lucky bastards in the middle) you’ll find a ton of value in this interview.   Go Premium: Members get early access, ad-free episodes, hand-edited transcripts, searchable transcripts, member-only episodes, and more. Sign up at: https://fs.blog/membership/   Every Sunday our newsletter shares timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/   Follow Shane on Twitter at: https://twitter.com/ShaneAParrish   Learn more about your ad choices. Visit megaphone.fm/adchoices

1 Nov 201757min

Are you in love with your own ideas regardless of how good they are Would you like to make better decisions and fewer mistakes? Would you like to improve the most important relationships in your life? These are just some of the topics I discuss with my guest, Ray Dalio. Ray Dalio is the founder of the world’s largest hedge fund, Bridgewater Associates, and is the author of the new book Principles: Life and Work. He is also a leading figure in the world of philanthropy, is an avid supporter of transcendental meditation, and has appeared on Time magazine’s list of the 100 most influential people in the world. Ray gave me over an hour and a half of his time, and I didn’t waste a minute of it.    Go Premium: Members get early access, ad-free episodes, hand-edited transcripts, searchable transcripts, member-only episodes, and more. Sign up at: https://fs.blog/membership/   Every Sunday our newsletter shares timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/   Follow Shane on Twitter at: https://twitter.com/ShaneAParrish Learn more about your ad choices. Visit megaphone.fm/adchoices

11 Okt 20171h 32min

Are you a giver or a taker? Have you ever struggled to find work/life balance? How do you build resilience in yourself, your team, or your children? I tackle these topics and many more in this interview with my special guest, Adam Grant. In this interview, we cover a lot, including: How to tell if you are a giver or a taker (Spoiler: if you just told yourself you’re a giver, you might be in for a rude awakening) How Adam filters down hundreds of ideas and opportunities to the select few he focuses on How to tell if your business idea is a winner or a huge waste of time Why “quick to start and slow to finish” is great advice for budding entrepreneurs How to nurture creativity and resilience in your children (or team culture) How to create positive competitive environments that bring out the best in people Adam’s two core family values and how he instills them in his children “Mental time travel” and how it can make you resilient to any challenge or obstacle Why “how can I be more productive” is the wrong question to ask (and what to ask instead) How Adam and I each address the topic of work/life balance And so much more.   Go Premium: Members get early access, ad-free episodes, hand-edited transcripts, searchable transcripts, member-only episodes, and more. Sign up at: https://fs.blog/membership/   Every Sunday our newsletter shares timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/   Follow Shane on Twitter at: https://twitter.com/ShaneAParrish   Learn more about your ad choices. Visit megaphone.fm/adchoices

21 Sep 20171h 28min

Ed Latimore might be the most interesting person you'll ever meet. Ed is a professional heavyweight boxer, physics major, and philosopher. He's also the author of the cult-hit Not Caring What Other People Think Is a Superpower. If there's anything Ed feels like doing, he simply does it. This interview explores the physics of boxing, the value of a coach, and much of Ed’s hard-fought wisdom. You’ll discover: How the painful end to a relationship lit a fire under Ed that hasn’t stopped burning How Ed knows when he’s bitten off more than he can chew and needs to ease up on the accelerator Why motivation is a terrible way to achieve great things (and what to do instead) The unlikely way that Ed’s runaway best selling book came about Why Ed thinks every person should step into the boxing ring at least once in their life How people get stuck on the “dopamine treadmill” which feels productive but actually gets you nowhere (this is the kiss of death if you want to accomplish any important goal) Ed’s brilliant philosophy on pain and suffering that will change the way you view hardships in your life Ed’s somewhat controversial approach to coaching children and getting the very best out of them The most important element of creating a positive habit (most people get this wrong) And more. After listening to this warrior poet, you won’t look at life the same again.   Go Premium: Members get early access, ad-free episodes, hand-edited transcripts, searchable transcripts, member-only episodes, and more. Sign up at: https://fs.blog/membership/   Every Sunday our newsletter shares timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/   Follow Shane on Twitter at: https://twitter.com/ShaneAParrish Learn more about your ad choices. Visit megaphone.fm/adchoices

9 Aug 20171h 2min