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Why so many people choose the Slowlane

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Bon Appetit

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I think human nature might dictate this behavior.

Daniel Kahneman, a psychologist who work on the psychology of judgment and decision making, has developed the Prospect Theory, which suggest that people are RISK AVERSE when it comes to gains.

Here a video that explain the theory:
View: https://youtu.be/z0swroHelYk
 

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TreyAllDay

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Absolutely - I agree with what he says that people "fear losses". In sales, especially (I can't remember where I learned this concept), many people get it wrong where they try to sell some sort of GAIN, rather than a potential loss.

IE: If you don't use this product you could lose "X". Fear of loss is so deep on an unconscious level that people don't even realize how much it affects them. Fear of loss, and overestimating that loss, is what keeps people from leaving the slowlane.
 

Bon Appetit

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Yes, people prefer to be certain to have a monthly paycheck from a 9-5 job, even if the expected value is miserable, than taking risk as an entrepreneur.

Risk averse.
 

Fpm9

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Yes, people prefer to be certain to have a monthly paycheck from a 9-5 job, even if the expected value is miserable, than taking risk as an entrepreneur.

Risk averse.

I think risks are higher when you work the average 9-5 job if you take into account the opportunity cost.

And I'd rather risk losing some money than risk losing 40 years of my life.
 

justonemore

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My guess to this is that most(?) people try some sort of side gig at some point in their life.

For reason X, it doesn't work and they determine it's unrealistic and that a 9-5 is more sure fire.

There's no thread here where people post right before they give up on the fast lane. This creates a bias in the data you see.

The big question to me is what is X, and how to avoid it/overcome it.
 

Thetaker24

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sometimes you can't playing entrepreneur only and expect to earn money with what you want to do, because it takes time. sometimes there are bills to pay and sick people you need to take care of. ofcourse you going to slowlane cause you need money asap. we do not always have a choice unfortunately...
 

The EL Maven

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My best guess is because it's easy, and the more money you make, the easier it is.

I don't mean it's actually easy, just that it's relatively easy. For instance, a person goes on some interviews and finally lands a job. The harder it was to get, the less likely the employee will want to quit. Next, they show up, punch the clock, endure some level of stress along with some level of camaraderie, and then they get a pay check. It's operant conditioning at its best.

The converse is to risk and then not even know if there will be a carrot at the end.

I had a mentor in the restaurant business. He owned several sports bar type of places, many of you would recognize the brand(s) if I named them. When I started having questions about actual operations, he put me in touch with one of his regional managers. I'll never forget what the regional manager said to me during one of our sit downs "I don't know why anyone would want to be an owner. I make $200k and have money for vacations. The poor firefighter grinds it out non stop without money to go on a nice vacation. I've also seen dozens of owners go broke. Why go through all that?"

When my mentor sold off his stores to a partner, it wasn't the regional manager who took his family for a year long visit to Italy.
 

MJ DeMarco

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of course you going to slowlane cause you need money asap

Someone who has a job doesn't make them "Slowlane."

The Slowlane is a life philosophy of jobs, dependence, and stock market hopes... taking a job temporarily to make ends meet while grinding your entrepreneurial vision is not Slowlane, it is Fastlane.

Surprised I have to continually reiterate this years later, but I still do.
 

Galaxy16

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I think human nature might dictate this behavior.

Daniel Kahneman, a psychologist who work on the psychology of judgment and decision making, has developed the Prospect Theory, which suggest that people are RISK AVERSE when it comes to gains.

Here a video that explain the theory:
View: https://youtu.be/z0swroHelYk
Because their parents intoxicated their brains with slowlane.
 

Galaxy16

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Someone who has a job doesn't make them "Slowlane."

The Slowlane is a life philosophy of jobs, dependence, and stock market hopes... taking a job temporarily to make ends meet while grinding your entrepreneurial vision is not Slowlane, it is Fastlane.

Surprised I have to continually reiterate this years later, but I still do.
It is good, that you mentioned this.

Your book is effectively an emerald.
 

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