Regret Minimization Framework for Decision-Making

Today I will recommend a framework for decision-making that I have used frequently for making decisions both large and small over the last few years. Jeff Bezos calls it the regret minimization framework and he credits it for helping him to make his decision to start Amazon which in 2018 made him not only the richest person in the world, but the richest person in modern history.

I figured if anyone’s approach to decision-making was worth considering in crafting my own, that of the richest person in modern history might be a worthwhile place to start. To this day, it continues to be a framework that I come back to more often than any other when making big decisions especially.

Regardless of what you do in life, I assume that you are a human and I have yet to meet one who does not make any decisions. By that logic, even without knowing you, I can be certain that a useful framework for decision-making will be useful for you. I cannot know whether or not you will find this particular framework to be useful, but I strongly urge that you take the two minutes and thirty-eight seconds to understand it from Bezos’ point of view, and to consider it for yourself.