Above: William Henry Gates III (born October 28, 1955) is an American business magnate, software developer, and philanthropist. He is best known as the co-founder of Microsoft Corporation.
“Most people overestimate what they can do in a day, and underestimate what they can do in a month. We overestimate what we can do in a year, and underestimate what we can accomplish in a decade.” Matthew Kelly, in his book *The Long View”.
*From the Barnes and Noble website:
“In this small volume, the celebrated author and speaker Matthew Kelly succinctly presents his reflections on one of life’s most important lessons. In doing so, he demonstrates what he has revealed to us again and again through his work: He has taken the time to think on life’s biggest questions so that he can present his findings to us in ways that make sense in our everyday experience of life and at the same time stir our souls.
Do you take the long view? Do you take the short view? Do you even know? Are you aware when you are taking the long view or the short view? How would your life be different if you became a student of the long view?
At a time when instant gratification no longer seems fast enough, The Long View invites us to step back from the endless hustle of our busy lives and question whether we are on the right path.”
“The term immediate gratification is often used to label the satisfactions gained by more impulsive behaviors: choosing now over tomorrow. The skill of giving preference to long-term goals over more immediate ones is known as deferred gratification or patience, and it is usually considered a virtue, producing rewards in the long term. There are sources who claim that the prefrontal cortex plays a part in the incidence of these two types of gratification, particularly in the case of delayed gratification since one of its functions involve predicting future events.
Walter Mischel developed the well-known marshmallow experiment to test gratification patterns in four-year-olds, offering one marshmallow now or two after a delay. He discovered in long-term follow-up that the ability to resist eating the marshmallow immediately was a good predictor of success in later life. However, Tyler W. Watts, Greg J. Duncan, and Haonan Quan, published Revisiting the Marshmallow Test: A Conceptual Replication Investigating Links Between Early Delay of Gratification and Later Outcomes debunking the original marshmallow experiment. Concluding that “This bivariate correlation was only half the size of those reported in the original studies and was reduced by two thirds in the presence of controls for family background, early cognitive ability, and the home environment. Most of the variation in adolescent achievement came from being able to wait at least 20 s. Associations between delay time and measures of behavioral outcomes at age 15 were much smaller and rarely statistically significant.”