Being never the same after learning that is unbelievably useful. When you understand that's what you’re like, then you’re a whole different creature. I don't think—and this is something I did learn from Jung—you can be a good person until you know how much evil you contain within you. It’s not possible. It’s partly because you just don't have any potency. If you’re just naive, if you’re just nice, if you never hurt anyone, not even a fly, and you don't have the capability for any of that, why would anyone, ever, take you seriously? You're just a domestic animal, at best, and a rather contemptible one, at that. It’s a very strange thing, because you wouldn’t think that the revelation of the capacity for evil is a precondition for the realization of good.
We know too much about what does not matter and know too little about what matters
We are teaching exactly what AI is doing nowadays: memorizing
Mental Model: Extreme Ownership
Everything is your responsibility
Even if it’s not, it’s sometimes very helpful to think it is
Check out Jocko’s book – Extreme Ownership
“I always go back to the thought experiment of having two identical versions of yourself. The one that takes extreme ownership over everything will always outperform the one who doesn’t.
Mental Model: GOOD
No matter what happens in life, no matter what goes wrong, your response should be – “GOOD”
View EVERYTHING as an opportunity
Car won’t start? – Good. You can walk to the gym.
Girlfriend break up with you? – Good. Time to improve yourself.
Feeling like crap? – Good. It’s an opportunity for you to train in a sub-optimal state
Finding good in the bad
It’s very easy to get bummed out when it rains and let it affect your mood
Josh realized parents instill this in their kids by encouraging them to stay inside when it’s raining rather going out to actually enjoy the “bad” weather
So, he flipped it. Josh taught his son to look at rain and think: “Oh, look at how beautiful it is! Let’s go outside and enjoy it!”
George adds – “When everything’s going bad, I say ‘good.’ When everything’s going good, I say ‘bad.’”
When times are good, it’s quite easy to take your foot off the gas
When times are bad, it’s an opportunity to thrive
The main idea – Become someone who thrives and improves from disorder
Think of a glass cup: if you drop it on the floor (disorder), it breaks (AKA it’s fragile)
How can you do this? – There are quite a few ways:
Have multiple sources of income – this way, if you lose your job (disorder), you’ll be fine
Exercise and build strength – if you stumble and lose your balance, you’re more likely not to hurt yourself
Look for business opportunities where no matter what happens, you’ll experience an upside
The concept: do all you can to prepare to avoid bad outcomes
Ex: Dress well to avoid making a bad first impression
Ex: Don’t text while driving to avoid getting in a car crash
“An unforced error is the most basic way you can be wrong. Independent of all other circumstances, you done f**ked up.”
Focus on action - My favorite productivity book, "Getting Things Done" highlights how anything you want to do in life eventually comes down to intentional physical activity -- even if it's something as mundane as "take out trash" and "call Mom." Learn the habit of planning your world around action verbs rather than fuzzy nouns. "Implement Strategy" is not a task; it's a project. "Call Jim about strategy" is a very do-able "next action" that keeps the ball in motion.
Throughout the course, I may say some poker terms you're unfamiliar with, so I've created the following list of poker terms for you to easily reference as you progress throughout the course.
3-Bet: The act of re-raising the initial raiser during pre-flop action.
All-In: The act of putting all of your remaining chips in the pot during a round of betting.
Backdoor Draw: When you need two additional cards to complete your straight or flush draw.
Balanced Strategy: Playing a wide range of hands the same way in certain situations to stay unpredictable versus good, thinking players.
Baluga Theorem: We should re-evaluate the relative strength of our hand when we face a raise on the turn.
Barrel: Another word for bet. A single barrel is a single bet. A double barrel is two bets in a row by the same person. A triple barrel is three bets in a row by the same person.
Big Blind: The larger of the two blinds in the game.
Blank Card: A card that does not improve your or your opponents’ hand.
Blind: A forced or partial bet put in by one or more players before any cards are dealt. There’s typically a small blind and big blind in No-Limit Hold’em.
Blocker: A card that reduces the number of combinations of hands in a player’s range.
Blocker Bet: A very small bet made to deter larger bets, with the goal of seeing the next card or getting to showdown as cheaply as possible.
Bluff: Betting or raising with an inferior hand, that has very little chance of improving, with the sole purpose of making our opponents fold a better hand.
Bluff Catcher: A hand that only beats bluff.
Board Texture: Refers to the suitedness and connectedness of the cards on the board and how it connects hole cards.
Button: A small, white, acrylic disk that indicates the dealer position in the hand. The dealer button moves clockwise each hand.
Capped Range: A pre-flop range of starting hands that has a ceiling to it, which typically doesn't include exceptionally strong starting hands.
Cold Call: Calling a raise after there has been a bet and one or more raises. Pre-flop, a cold call can occur in single-raised pots (because the blinds are considered the first bet) or in 3-bet or 4-bet pots.
Combined Fold Probability: The greater the number of players in a hand, the lower the probability they will all fold to a bet.
Combo Draw: A drawing hand that consists of more than one draw.
Continuation Bet (C-Bet): When a player who bet or raised in the prior round of betting bets again during the current round of betting.
Dead Money: Money sitting in the middle of the pot that players aren't aggressively fighting for.
Deep: Playing with a deep stack, usually when effective stack sizes are 150bb or more.
Depolarized 3-Bet: A 3-betting range composed solely of value bets. Sometimes called a strong linear range.
Diminishing Equity Concept: As more people enter a hand pre-flop, our probability of winning declines as each player acquires an equitable fair share portion of the pot.
Dominated Hand: A hand that’s dominated by a better hand due to its kicker card. For instance, KT is dominated by KQ.
Donk Bet: When a pre-flop caller bets out of position post-flop before it's the pre-flop aggressor's turn to act.
Effective Stack Size: The size of the smallest stack between two or more players in a hand. This indicates the highest amount of money you can either win or lose in a hand against any one particular opponent.
Elasticity: A measure of a variable's sensitivity to a change in another variable. In poker, a poker player's sensitive to bet sizing.
End of Action Spot: The last possible action in a hand, such as a player betting all-in.
Equity: Your probability of winning a hand, i.e. how often your hand will win the pot if all cards are dealt and the players go to showdown.
Expected Value (EV): The amount you expect to win or lose on average when you make a certain poker play.
Exploitative Strategy: When we identify and exploit weaknesses in our opponents' game.
Flop: The first three community cards placed face up by the dealer.
Float: To call an opponent's post-flop bet with a weak hand with the intention of bluffing or semi-bluffing on a later street if checked to us.
Flush Draw: To have four cards to a flush with one or more cards to come.
Fold Equity: The percentage of time we expect an opponent to fold when facing a bet. The more often we expect our opponent to fold, the more fold equity we have.
Gap Concept: You need a better hand to call a raise than to make a raise yourself.
Gut Shot: Drawing to a straight with one of the middle cards missing, commonly called an inside straight draw.
Heads Up: When there are only two players in a hand.
Heads Up Display (HUD): A graphical interface that tracks you and your opponents’ hands and tendencies via statistics in real-time as you play online.
High Equity Hands: Premium and strong pre-flop starting hands that have a high amount of equity pre-flop and retain their equity well post-flop.
Implied Odds: The amount of money you expect to win on later streets if you hit your draw with a drawing hand versus a strong made hand. Typically used in situations where you’re getting bad pot odds.
Isolation Raise (Iso-Raise): A pre-flop raise with the intention of isolating a weaker opponent in a heads up pot post-flop or win the hand pre-flop. At the micro stakes, we'll often iso-raise limpers.
Jam: To go all-in.
Limp: To enter the pot by just calling the big blind rather than raising. Open limping occurs when you're the first player to enter the pot.
Limp Behind (Over-Limp): To limp in pre-flop for 1bb after one or more players have already done so.
Linear 3-Betting Range: A 3-betting range composed solely of value bets. Sometimes linear ranges are called depolarized or merged ranges.
Merged Range: A range that consists of hands that includes medium-strength and strong hands.
Muck: To fold your hand.
Nut Hand: The best possible hand in a given situation. Commonly called a nutted hand, the nuts, or the nut hand. For example, the nut straight.
One-Gapper: A starting hand with two cards two apart in rank. For instance J9 or T8.
One-Third Rule: You will flop a strong value hand approximately 33% of the time.
On the Button: To be in the dealer’s position and accordingly last to act throughout each post-flop betting round.
Open-Raise: To raise first into the pot pre-flop before any other player has called or raised.
Open-Limp: The first person to voluntarily enter the pot by limping for 1bb rather than raising.
Over-Limp (Limp Behind): To limp in pre-flop for 1bb after one or more players have already done so.
Outs: The number of cards left in the deck that will improve a drawing hand to a made hand.
Over-Call: To call after at least one other player has already called a raise.
Poker Bankroll: The amount of money you have set aside for the sole purpose of playing poker.
Polarized 3-Bet: A 3-betting range composed of a combination of value bets and bluffs.
Position in Poker: You are in position against opponents who act before you. Conversely, you are out of position against opponents who act after you.
Positional Awareness: Knowing what position you are in relative to your opponents and if you are at a positional advantage or disadvantage.
Positional Disadvantage: When you play a hand out of position, you are at a positional disadvantage to players in position to you.
Power of Position: Utilizing information gained while playing hands in position to make better decisions than your opponents.
Pot Odds: The odds the pot is offering you. Specifically, the amount of money already in the pot compared to the size of the bet you must call to continue in the hand.
Pre-Flop Aggressor: The player that puts in the last raise or re-raise pre-flop. Also referred as the pre-flop raiser (PFR).
Pre-Flop Caller: Player(s) that call a pre-flop raise or re-raise.
Probability: The likelihood that something will occur.
Protection Bet: Betting to protect your equity in a hand in order to prevent your opponent from freely realizing theirs and potentially improving to the best hand on the turn or river.
Rake: The amount of money a poker room charges per each hand. This is how poker rooms make their profits.
Range: The possible range of hands a person has in a poker game.
Reverse-Implied Odds: The opposite of implied odds. How much you expect to lose if you make your hand and your opponent holds a better hand.
Semi-Bluff: Betting or raising with a drawing hand such as a flush draw or open-ended straight draw that has the potential to improve on later betting rounds.
Set: When you hold a pocket pair and one of your cards is on the board, giving you three of a kind.
Set Mine: To call a pre-flop raise with the intention of flopping a set.
Small Blind: The smaller of the two blinds in the game.
Small Blind Complete: When SB calls the additional 0.5bb in an unopened or limped pot rather than raise.
Smooth Call: To call a bet or raise, instead of raising yourself.
Speculative Hands: Lower equity pre-flop starting hands that rely on their ability to make strong draws and made hands post-flop such as flushes, straights, and sets.
Squeeze (Play): To make a large raise after there has already been one raise and at least one call.
Stack-to-Pot Ratio: The effective stack size divided by the size of the pot.
Starting Hand Combination: The different combinations in which a starting hand can be dealt. There are a total of 1,326 combinations of starting hands in Texas Hold'em. A pocket pair can be dealt six different ways, meaning it has a total of six starting hand combinations. An unpaired starting hand can be dealt sixteen different ways, meaning it has a total of sixteen starting hand combinations.
Stealing the Blinds (Steal Attempt): Raising first in an unopened pot pre-flop from the cut-off (CO), button (BTN) or small blind (SB) position in an attempt to steal the blinds.
Straight Draw: To have four cards to a straight with one or more cards to come.
Three Bet: The initial re-raise pre-flop when someone raises a pre-flop raise.
Tilt: An altered mental state, specifically being angry or frustrated when playing poker. Essentially, anytime we aren't playing our A-game.
Uncapped Range: A pre-flop range of starting hands that includes premium starting hands such as AA, KK, QQ, JJ and AK.
Value Bet: A bet made for value. More specifically, a bet made with a strong hand with the intention of getting called by worse hands.
Value Owning: Value betting what you think is the best hand and getting called by a stronger made hand.
Variance: The upswings and downswings in poker. More definitively, it’s the difference between individual results in the short term and the average set of results we expect to see in the long term.
Weaker Start Hands: Lower equity pre-flop starting hands that rely on their ability to make strong draws and made hands post-flop such as flushes, straights, and sets.
Electronics. I haven’t bought any electronic devices in five years except for an iPhone 5 as a business expense in 2012 – no iPad, no new laptop, no nothing. By delaying gratification, I’m able to maximize the use of my electronics, pay a discount, and not have to be the guinea pig for all sorts of bugs that go along with new product launches.
Tutor Tip from Dr. Jamie Kemp
Interim Chief Academic Officer
Arts and Humanities Tutor (Art History and Visual Studies)
Jamie's tips for enjoying a trip to an art gallery or museum:
Do some research before you go. The experience will be richer if you know something about the collection, its history, and its highlights.
Pick 3 or 4 items that you really want to see and focus on those. Don’t try to absorb everything!
Slow down and take your time when looking at the objects on display. Scholars estimate that people spend an average of 15-30 seconds looking at a work of art in a museum, but that’s not enough time to notice the details or process what you're seeing.
Take a notebook and sketch what you see. It doesn’t matter if you are any good at drawing—it's a great way to hone your observation skills.
Once you eat the peanut, the job of the shell is done. So lose it. Ditto dead email. Never organize what you can simply discard; and if you can't discard it, throw it onto one big pile.