The Weird Thing About Price's Law | Jordan B Peterson

If you're starting a business, the most difficult customer you'll ever get is the first one. And the second most difficult customer to get will be the second one. But once success starts, it multiplies exponentially.
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[@ballkans]

Hope you're doing well Mr Peterson.

[@farshadmn4273]

He is supposed to be a psychologist but he teaches economy, politics, general science, biology, statistics and etc. I wish he was my teacher through all my studies. Wish him all the health in the world

[@Zoney06]

There is an overlap between all of those things you listed. Everything is connected.

[@Dbee45]

I would have hated him in my college days. I would have sworn he was racist. He would have simply done his job and failed me because I was too busy making excuses and not busy enough learning and doing the work. I'm grown now and love this guy.

[@jeffandsherriefranzwa8970]

I'm not an academic, so I could easily mis-term this, but I would call him a social psychologist.

[@ozymandias5257]

Listening to Jordan B. Peterson's presentations is an audio experience of the Pareto distribution in effective intellectual communication. .... and the top 10% of his blogs...

[@mikedl1105]

As your company grows, incompetence grows exponentially and competence grows linearly

[@-8l-924]

this is titled like a Seinfeld routine and I love it “wHaT’s ThE dEaL wItH pRiCe’S lAw?” (bassline)

[@ArthurDentJr]

This is one of the most intelligent people out there. Almost every lecture of his is an eyeopener. It would have been nice if we could see the graphs though.

[@keithlauderjr1691]

Learned in retail that 10% of your customers take up 90% of your time. Worth losing. Get well Jordan! Price's law was fascinating and horrifying.😁

[@shannonbest106]

Yeah… learned in undergrad school…. 90% of your income is 10% of your customers.

[@funnyvidstoday101]

ask qualifying questions to avoid wasting both your time, how can you sell a pen to someone who doesn't want one

[@erikeippel]

Carrying the light for future generations - preventing the dark ages again- thank God for Jordan Peterson.

[@ricpb]

Suffering also follows power law. Sometimes the most productive are the one who suffer the most. It's easy to want all the profits from the other and berring no consequences or suffering. The most productive are there for a reason, they accept trading what the others were not willing to do. They spend less time with their family, they spend less time sleeping, less time in leasure they work hard. Only politians can climb being the most parasite instead of productive. The democracy allows the really greedy and unethical to claim work of others, steal using taxation to steal from some to give to others. We don't need to fight the inevitable truth of life. We follow a power law distribution the more we produce the richer some will get. But more importantly, the more productivity they will be become.

[@spartan2767]

Well said

[@Matthew-ob7vb]

The lobster king is back

[@user-ul6ev6rv9x]

Ive seen anout a millions different you tube videos this one is the most impressive. Means most to me

[@leew3365]

Such a brilliant mind.

[@smokenspartaify]

Hello Jordan, Hope you are doing better. We're praying for you and the Peterson family. Thank you for all you do. You've been a huge inspiration. I named my first child Senna Jordan, she's now 6 months old and almost ready to read, 12 steps to life. Lol. God bless.

[@blackearthmt]

"Churn" is the key word. It seems there would be an optimal level of churn in an economy to provide opportunity. How do we measure churn and how do we affect it?

[@nickmagrick7702]

when math does a better job at explaining corruption than any legal expert

[@TallisKeeton]

I like how some lectures on YT serve as generators of good, educating talks between the commentators and give us the occassion to learn from each other. :) So Joe Horton, SuperRay and the others I thank you kindly for good talks :) Esp. the talks without trolling and cursing and hating and all this stuff :)

[@giuliobenedini9543]

grazie

[@kanchandrax8263]

Company : we have no vacancy Me: I'm Jordan Peterson's student Company : u r in Me: it works!

[@itsallgood21]

Price’s law: x9,900 of the 10,000 KZbin videos of Jordan Peterson are informative, dynamic, lectures. X100 are click bait, sensationalist topics. 50% of views are for click bait sensationalism 🙄. Price’s law strikes again!

[@ValeryLevchenkoTurin]

Dr. Peterson is an unbelievably brilliant lecturer! Those students who took his classes are extremely lucky and privileged :) Please come back to us! The world is needing you!

[@AnnabellaRedwood]

God that's fascinating!

[@liquorpos]

What is the underlying mechanism at play? Some have suggested that you can solve this problem by firing underperformers and hiring more "A-players. If this is a function of how humans operate in large groups then some of the A players would cease being so. That would mean the only likely solution is to work in smaller groups. Supports the idea of "make one person responsible" (Zero to One).

[@andrewpenfold7777]

But it's not actually true

[@Geordieninja90onxbox]

Somewhere, in someplace, there’s a person who everyone thinks is crazy because he decides he’s going to speak nothing but the truth

[@snorribjarnason8408]

You mean Jesus?

[@jasonhaiflich8967]

@@snorribjarnason8408 not everyone is crazy tho.

[@andrewpenfold7777]

and JP isn't it

[@daviddredge1178]

Very interesting. But can anything be done about it?

[@stanislaskowalski7461]

Other example: number of enemies killed at war.

[@bkling123]

"As your company grows, incompetence grows exponentially and competence grows linearly" That's not what exponentially means. What you meant is quadratically

[@HarryJoiner]

5:11 - lightbulb moment

[@SuperRayW]

For the record Peterson, in some of his previous lectures, mistakenly described Price's Law while consistently calling it a Pareto Distribution. As a consequence I still struggle with the correct term. Just a reminder that he is human, and fallible, and anything he says should still require citations, rather than just blind acceptance of his authority.

[@zeldabaws98]

SuperRayW Prices law is the phenomena itself described in words. A pareto distribution is the statistical phenomena.

[@MarkTheDesigner]

When JP talks about Pareto Distribution it's in terms of the 80-20 rule and he does this as a defence of capitalism since it is baked into every system - it's not the fault of capitalism. Here he is talking about who is responsible for 50% of the work as a retort to the vilification of the 1% we saw happening a few years ago with the occupy movement - which still leads back to the defence of capitalism.

[@n2cable]

Corporate way of thinking states that if you give the "Good for nothing" employee a raise as an incentive to work harder and try to be a part of the solution...... and keep the real productive workers wages lower expecting the same quality of work they always represent in the small % of good productive workers overall. Thus making up for qualifying the raise to the non productive worker to work harder. Ha HA...seen it a 1000 times in corp world

[@jasonhaiflich8967]

What have you worked as? Managaer, supervisor?

[@skippylippy547]

I wish everyone understood Price's Law. It would kill forever, all Progressivism, Socialism, and Communism.

[@jeffdawkins448]

In the work place, 3 of the 10 do the work, but usually its those on the other 6 that get rewarded for the work of the 3.

[@snorribjarnason8408]

I would say the statement "incompetance increases exponentially and competance increases linearly" Is somewhat of an inaquracy. Because It isn´t that incompetance increases it is that competance and the necessity or reinforcement of the few competant to solve all problems increases. The right way to look at it is that problems gravitate (just as mass gravitates towards a single point) toward problem solvers.

[@LittleGirlJane21]

There have been a lot of people leaving my country for past lots of years. Does that mean that only the worst people are left and that I should get out of here before stuff crushes?

[@StarWarsomania]

Arash Karimpour Wow, you are so far off the point it's not even funny. I don't think you can SEE the point from where you are.

[@StarWarsomania]

Sono Kip Brain Drain is a critical problem in many 3rd World countries. And many collapsed severely when mass Brain Drain occurred, such as Rwanda and/or Uganda. It depends on how bad the situation is. If it is very critical (severe government sanctions on productive people, or Non-government "militias" attacking productive people with no attempt to stop them from the government), get out. Productive people can be productive anywhere, even if they left with only the clothes on their back. If it is not yet to that point, you can try to weather the storm. Definitely plan for the worst if you do (have a way to protect yourself, have supplies - food, water, heat - and power-generating capacity if possible, convert some of your savings to gold or another currency in case of hyper-inflation, etc.). If you are a productive person, you and your productivity may be necessary to helping to keep basic systems functioning for you and everyone you care about. Societies can and do break down. Just be ready to pick up the pieces when that happens.

[@LittleGirlJane21]

@@StarWarsomania Thanks. Im from Ukraine, people do find success here in software engeneering which im currently pursuing and I don't really understand politics too well to be able to predict how the government will act. I just hope I won't get cut at the knees while Im trying to stand up and get to a better possition in case of some sort of a collapse or are we already doomed and I just don't see it...

[@StarWarsomania]

@@LittleGirlJane21 Well, good luck. From what I can tell, it looks like your government is in the process of overhauling a giant mess. Corruption and a government that was a puppet of Moscow has left your country in a quagmire. Whether or not the new government will end up being better than the old one is something only time can tell, but your president at least seems to be a decent guy. The best thing you can ever do is be prepared for disaster. And never forget that no matter how "advanced" a society is, it can always degenerate into savagery. If you hear people howling for your blood in your country, remember it can always happen for real - it happened to the kulaks, it happened to the intellectuals in Russia and China, and it can happen to you.

[@StarWarsomania]

@@ArashKarimpourghannadi Whaaaaaat even are you talking about, bruh? YOU are talking to the OP like you thinking "leaving a country" is the productive work being done. I can't even make my mind wrap around this insane nonsense. Peterson says _in this very clip_ that when that top % of productive people leave a company, the company collapses. OP is worried that productive people leaving his country en masse is a sign that his country is about to collapse. How can you not understand this... Yes, I will assume you are an idiot if you say demonstrably stupid things on the internet. And yes, I generally move on to the next thing when I'm done with the first thing. Do you really not understand how human interaction works? What? *_What??_* Why... what? How did food end up in this conversation? How... why... what? YOU are the one bringing food into a conversation about people leaving the third world, not me...

[@jt4369]

I wonder what factor is responsible for distinguishing those populations from others that would be distributed normally versus according to Pareto. For example, “productive endeavors” may be distributed according to Pareto, but why is IQ normally distributed? See, I’m beginning to think that there’s something spooky about distribution and that distribution itself can switch distribution types based on the question posed. If I’ve though about this then there has to be some authoratatige paper already written on this.

[@emilen2]

Beatles and ABBA are exceptions.

[@christianjoachin4639]

If you’re reading this Mr. Peterson I hope you’re doing well :)

[@pedrolambrusco8190]

Interesting! I wonder if this would be the same for a country. The United States has about 325 million people. The square root of 325 million is 18,055. So, if this works for countries also, 18,055 people are doing half of all the work done in the United States.

[@revrodrigueza8489]

maybe they are all CEO's of some kind

[@TornadoOfSouls777]

After this talk, Robin Hood was turning over in his grave...

[@Relbl]

Might do you some good to actually READ Robin Hood... his main goal was defying tyranny and making corrupt people look the fool. He was more a Figaro character than a Marx

[@nickmagrick7702]

@@Relbl who the hell considered Robin Hood a marx character?

[@farmerson6558]

I wonder about that. If you have 10 employees, you probably don't have an HR, legal, accounting, or sales department. You may not have a cleaning service. You probably do not have people who are dedicated to training. So, when you say half the work, are you talking about production and/ or serving customers? That assertion wants some drilling down.

[@cameronjames2284]

It can be seen as one in the same thing

[@delphi202002]

is the answer the Tithe?

[@MarkPhillips420]

Voluntary benevolence as opposed to forced redistribution. If your gift is to give, give generously. '[If your gift ] is giving, then give generously" ‭‭Romans‬ ‭12:8‬ "17If anyone has material possessions and sees a brother or sister in need but has no pity on them, how can the love of God be in that person? 18Dear children, let us not love with words or speech but with actions and in truth." 1 John 3:17-18

[@shannonbest106]

In a business… 90% of your income is 10% of your customers.

[@robanddawnramcharan6408]

The square root of the number of participants. Do they do half of the work, or do they produce half of the results? Because they aren't the same thing.

[@mainchannel1566]

Produce half of the results

[@ricoman7981]

Price’s law or rule of thumb. In 2018/19 there was a total of 7664 goals scored in the NH L. There were 999 players that played at least 1 regular season game that season. That means 34 players should account for 50% of the goals or 3832 goals. The top 34 goal scorers only potted 514 goals. The ‘law’ doesn’t appear to apply to productivity in professional hockey.

[@nenadmilovanovic5271]

This law works in creative fields such as literature or music. How can managers do 90% of work in Amazon for example?

[@ericmyers2532]

It’s 10% if 999. Which is the top 99 players. Not the top 34

[@marciahammond9735]

Ha Price's law sounds like the workforce in South Africa, plus 10 % of the population pays most of the tax 😑

[@valkyriesanborn189]

I've always been hyper-productive and risen to the top of my companies. I... as the only female at one of the companies... ended up being the overseeer of the other workers and I made the most. The men were very jealous and told my boss I shouldn't have the position. My boss told the other workers to outwork me and they could take my job. He was simply interested in his best interests. If someone could do a better job than me then he wanted me out. I kept my job because the other workers were so inept.

[@JD-wx3pk]

That's it, some may never outshine or out work you, because they fail to understand that some people are just built differently.

[@TallisKeeton]

So if I understand correcly this economic law shows us that most workers are not competent enough to be effective in their job so most workers are not needed, so it seems that depopulation is in order ? :) Becouse 100 people can do the job of 10 000 people :) Or maybe I did not understand it correctly? So can someone show me the correct explanaition?

[@SuperRayW]

Nothing wrong with your conclusion at all. No reason to assume you are wrong, just because the conclusion is unpleasant. Most people in an advanced society serve no purpose other than providing a breeding ground for the exceptional outliers that actually carry humanity on their backs. I suppose you could argue that more people will produce more geniuses, so maybe there is a net gain?

[@joehorton5067]

Think about it this way. You're going to have a very few people who are hyper-productive. These are the people that are pushing and innovating within the domain. I use domain because it can be a factory or a law practice or an accounting firm or what have you. They are extremely productive and try to be more so. This is the "first square root" of people. The "next square root" of people do about half as much as the first. Everyone else is simply there to do a job. The top 100 will be the ones to push your efficiency and productivity, as well as your company innovation. The rest are looking for a paycheck and little else. Make sense?

[@TallisKeeton]

@@SuperRayW Or maybe the ethics could get us a different and more valuable explanation - that for example the whole of the population should not be about making minority of few rich geniuses and the majority of not valuable masses, or smt like this :) (becouse such thinking is imo sick thinking of psychopatic persons) but it should be about the interdependent net of persons in which everyone of the group have some unique values becouse everyone get different experiences in life and different works and abilities? When I was a kid we got this little poem for kids learned in schools - about how many different trades are in reality interdependant of each other. Like a baker is dependant on the work of a shoemaker and shoemaker is in need of a bread from a baker who is in need of a grain from a farmer, who cant do without selling his goods to a miller and baker and such things :) It was a popular poem to teach kids. Maybe that is a solution? A moral view of our inter-dependency (not dependency and not in-dependency but inter-dependency?) of each others trades and groups? How the super-rich can survive without their inter-dependancy of bakers and farmers and gardeners and shoemakers? :)

[@TallisKeeton]

@@joehorton5067 yes :) thanks for explaining :) I would like to add smt about practice in legal area becouse that is the trade which I can understand better. In this area I think the productivity should not mean exactly the production of new laws or bills of law. In this area the over abundance of new laws could be - in real day to day life - rather like obstacle or hindrance than productivity :) Solutions to day to day legal problems should be seen as good productivity in the jobs of legal area. But the over-production of new laws, not realy :)

[@TallisKeeton]

@@SuperRayW I suppose you could argue that more people will produce more geniuses, so maybe there is a net gain? Or maybe - and that is my view of it - in everyone of economic classes (economic levels - every level of earnings) the same amount of geniuses is born usualy. But only the highest and higher economic levels (earnings) have the money and chances to bring their born geniuses to the stage, to the cameras? :)

[@ruhaitian7761]

Price's law is completely misleading. Let's say it in anther way. There are square of the total employees in a company takes the most important positions. They don't get 50% work done.

[@andrewpenfold7777]

This isn't even Price's Law

[@andrewpenfold7777]

This isn't actually Price's Law. And of course it isn't true either. At least he tells you to look it up, but probably most won't bother. The question for Jordan Peterson fan's is, what happens when you look it up and find out that he was talking bullshit? Do you trust him a little less, or just double down and do a Jordan Peterson trick and say "it's a metaphorical truth... that's much more real than an actual truth"? or do you just laugh off the facts?

[@spinning_data2974]

Then most productive team is a team of 4. Sqrt of 4 does 50% of the work. The remaining does 50% as well. 😉

[@huzaifa5926]

How do you prove this law? Yes, there are people who are hyper productive or very productive in a given corporation, but how do we prove this law? Is there any literal proof?

[@njineermike]

He just gave examples you can easily research. It's not the rest of the world job to educate you. That's your job.

[@davidsweeney111]

He used to be a great guy!

[@you3001]

Used to be?

[@davidsweeney111]

@@you3001 I mean, since his nervous breakdown which I believe he is recovering from in a Russian hospital, whether he will ever come back to public speaking is anyone's guess.

[@you3001]

@@davidsweeney111 I hope he does recover. It would be terrible loss if he didn't.

[@davidsweeney111]

@@you3001 yes, I agree.

[@blessedowoboi]

I’ll add this to my list of reasons why we’re all living in a simulation

[@thegoldentroll]

Looks like I'm first. Sorry everyone...:(

[@ballkans]

Don't be discouraged, I was first, my comment was 46sec ago, and yours 1min ago, hope you're doing better now;)

[@thegoldentroll]

@@ballkans Please delete your comment so I can be first...even though I don't want to be.

[@ballkans]

@@thegoldentrollSorry buddy, I was trying to be first for over 2 yrs , this is very important day for me:) Just keep trying, you can do it, I know you can.

[@Bruc3k]

this guy is enoying u open your fridge and boom jordan b peterson, man chilll and have some life

[@WojciechowskaAnna]

As far as I know Jordan B. Peterson does not hold a degree in statistics or mathematics. He however likes to back up his opinion usually with cherry picked concept from statistics. The problem with that is he tends to generalize without a proof. Price's law was an observation on scientific publications. Does any one did reasearch prooving this observation applies to other areas - JBP claims? The problem with applying statistics - one should know distribtuion to wich the statistics is applied. What JBP presents it is not science, it is just claims and his own personal opinions, mixed with shallowly presented cherry picked pheonemans or observations.

[@Matthew-ob7vb]

Anybody else thinking of the Jews lol

[@sirmungus7113]

is it just me or does this law make no fucking sense. like lmk if yall think that shit is true cuz it just seems false af

[@shadowbandit3975]

Well its not. So you're probably just an idiot.

[@sirmungus7113]

@@shadowbandit3975 wanna elaborate on how it is not instead of just insulting?

[@shadowbandit3975]

@@sirmungus7113 this is the 21st-century dude just google Price's law, nobodies going to sit here and type out all the scientific nuances to you. Its a well-known model that has implications in my areas.

[@tboneone4005]

the weird thing is he seems to be over active, speaking very quickly and licking his lips a lot. looks like probable cause to field test

[@skippylippy547]

Tbone - Kill the messenger much? It would be better for you to listen to the message and spend less time criticizing the messenger.

[@tboneone4005]

@@skippylippy547 hey dippy i just made an obvious observation not sure what you read into it

[@jimvick8397]

I love listening to stupid politicians who think they can beat Price's Law... They don't even know they can't win... Communism sure did give it a good go though...

[@pattonjames8060]

The comfort of the rich depends on an abundant supply of the poor, Voltaire (the french philosopher, i.e. not the gringo utuber going by the same name).

[@StarWarsomania]

That... has nothing to do with the topic being discussed.

[@kenunderwood8621]

All this is analysis of humans acting as machines. It's ignoring the possibility that people may work together to better their overall situation. Really it would be better to get rid of money and all the bad behaviour it causes.

[@estradaniele7986]

Pseudoscience.. I hope y’all realize this is some bs. 5 classical musicians isn’t the square root of all classical musicians

[@shadowbandit3975]

I hope you realize your an idiot. Clearly don't understand the subject.

[@estradaniele7986]

@@shadowbandit3975 LOL good demonstration of brainpower

[@shadowbandit3975]

@@estradaniele7986 Good demonstration of ignorance. Price's law is a well-accepted, researched, proven concept applied to many subjects. I learned it in my advanced stats course while obtaining my master's in mathematics. This is the 21st century, you have online search engines, stop being an idiot and educate yourself. Or just remain ignorant and angry I guess.

[@estradaniele7986]

@@shadowbandit3975 Its been proven as a concept and model that "CAN" depict wealth distribution. I'm saying it is not inherent to wealth distribution (A crucial distinction that I'm sure you understand), so it is not inherent that all wealth will always be distributed in such a manner. I have also done my research bud

[@jlloydb1of9]

4:59 we fight it by ending inheritance. It is socially irresponsible to not spread your wealth into the community and government should tax the hoarder. Hard.

[@brendanm4379]

What an idiotic idea. It is obvious that people can only truly care for about 300 people at a time. Why should the money you earned throughout your life go to anyone other than whom you decide deserves the money?

[@TallisKeeton]

hi :) what the inheritance (or ending it) have to do with the topic of this lecture? I dont understand. Inheritance of the 1% of richest could be a problem in the terms of longterm politics becouse the 1% of the richest could use their inherited money for buying politicians - as I m sure they done most of the time :) But what about the inheritance of normal working people? Why they should not have the right to get some earnings and made from them savings and use it to help their kids to start? For example a couple of parents earned some savings for 20 years of their work and bought their child a flat, or they bought themselves a flat and that flat was their donation in their testament for their son to get something for a start in his mature life before he gets a real job. How this can be a bad thing? :)

[@richard.featherstone]

Dr Peterson has spoken about inheritance, it may be a further part of this lecture. He said that when one person becomes super rich their wealth will be lost after the third generation get their hands on it.

[@TallisKeeton]

@@richard.featherstone Ah, now I understand :) thanks :) Its about the problem of accumulation of wealth between the ranks of super-rich. The same problem was something which existed in early medieval age when the richest families (some of them the descendants of Roman empire) accumulated much wealth between their ranks so this wealth could not served as a tool for development of main society, only as savings for a one family to made sure that the 2d, 3d and the next generations can use it to made their way into the political clubs of highest levels. But it would be - I guess - great injustice to end the inheritance between the ranks of normal workers whose inheritances are tools to develop the wealth of main society, general society, not only one or few families.

[@andres.e.]

1. That would be plain theft (as all taxes are). 2. Within 5 years or less, the money would go back to the most productive people. 3. Socialism has failed every time it has been tried, for over a century, in over 100 countries and in múltiple cultures, leaving at least 100 million murdered by their governments. 4. In the same century socialism has failed time and again, capitalism has lifted BILLIONS out of poverty and hunger. But ideologues will never accept amy of this.