Hey Monkeys,
If you have a spare minute I'd highly recommend this video by Dan Pink on motivation.
Some of the key points I took away from this video:
- For cognitive tasks, higher reward leads to poorer performance
- Money works most efficiently when you pay people just enough to make them not think about money
- 3 factors that lead to better performance: autonomy, mastery, and purpose
Thoughts Monkeys?
Interesting video, but I disagree on a few things:
-Most of us are doing a lot more than rudimentary cognitive tasks...even entry level analysts, quants, etc. need to do more than just crunch numbers. If you can't present your ideas well, think creatively, network, etc...basically just make a good impression on the right people, you aren't going anywhere regardless of how good your numbers are. This is much more than rudimentary, and measuring the reward isn't as simple as adding up your bonuses.
-You have to pay most people a pretty significant amount of money before they start thinking less about money and more about the task at hand. This is especially true of city dwellers and people with families. Your talking about a dollar amount WELL above average. I'd say this is especially true for the type of people on The Street...no one is in IBD because they just LOVE the lifestyle.
-I would argue that after paying your dues as a plebe and killing it for a few years, autonomy, mastery, and purpose all increase with time. You have to prove yourself in order to get these things. You make it to the top by proving a degree of mastery (beyond building a perfect model) . In turn, you receive autonomy and purpose, because now you run a business. And when you're finally wiping your ass with Benjamin's you get to do things with purpose: philanthropy, politics, etc.
I'm sure that much of what he said is true for the average person, but definitely not a bunch of monkeys...
Anyone knows how he did those drawings? I found that pretty cool
RSA Animate does the animations themselves. They take speeches, such as Dan Pink's in this instance, and animate them. You can find more of their work here: RSA Animate
thanks mate, might come in handy sometime in the future.. assuming it doesnt cost a bomb
Loved this. Was considering adding Drive to my reading list.
Assuming NorthSider watched this and threw up.
I'd say this applies to a very limited subgroup of the population, those who are intrinsically motivated, have ambitions, are competent in a field, etc. For the median American (who watches 4+ hours of TV a day, doesn't have a college degree, works 9-5 in sales and can't wait to punch out at the end of the day), I don't think much of this applies. This video is created for and by people living in a bubble. A good bubble to be in, but I don't think the principles can be generalized to the population at large.
That's my immediate reaction. In the meantime I'd like to see the studies supporting the premises of the video. I'm always a bit suspicious about these sort of slick presentations that try to 180 your ideas about something.
No shit dipshit. Wonder where you got that from. Try coming up with a more original perspective. Unless you're talking about yourself. So I guess that's okay.
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