Fool School: Can You Beat the Big Guys?

This podcast episode delves into decision-making strategies, particularly in business and investing, emphasizing the importance of considering equilibrium and the interconnectedness of actions and reactions. It explores the concept of "all else equal thinking," where assuming that all other factors remain constant often leads to erroneous outcomes due to the reciprocal nature of decisions. Through examples like Waze and pricing strategies of companies such as Chipotle, the discussion highlights the significance of anticipating and factoring in the dynamic responses of people and markets.