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In Search Of Lost Time

In Search Of Lost Time (Photo credit: bogenfreund)

In the book “Outliers”, the author Malcolm Gladwell

  repeatedly mentions the “10,000-Hour Rule”, claiming that the key to success in any field is, to a large extent, a matter of practising a specific task for a total of around 10,000 hours.

Correlation Does Not Imply Causation

Malcolm’s books are usually the kind that explains why certain things happen the way they did. That works well for him because he knows that is what readers want. But as the cliche goes, “correlation doesn’t imply causation”.

Many critiques have pointed out how Malcolm misinterpreted his own examples or the research of K. Anders Ericsson, but the other chapters in the book are so well written that most do not go on to examine each chapter separately in a critical manner.

The “10,000-Hour Rule” became the most dangerous meme that a learner can acquire and it definitely is very popular among teachers, trainers or coaches because it is a convenient way to explain why students show little progress.

10-Million-Dollar Rule

Money

Money (Photo credit: aresauburn™)

In closing, as a comparison to the “10-Thousand-Hour Rule”, let me introduce what I call the “10-Million-Dollar Rule” which is based on a hypothetical research:

Research have shown that investors who became billionaires have all invested at least 10 million dollars. This means that the key to become a billionaire, to a large extent, is a matter of having invested a total of around 10 million dollars. This is called the “10-Million-Dollar Rule”. So what are you waiting for? Do the math, figure out how much you need to invest everyday in order to reach the 10-million-dollar mark and start investing now!

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