This amazing piece was written by “the other other Noah,” Mr. Noah Glass. He said if he gets 25+ comments he will write weekly for us. I hope we can comment our hearts out as he has tons of great things to say.
I’m a maximizer.
Today I walked past a Chinese back & foot massage parlor. I’d never indulged in a back or foot massage on the spur of the moment. I decided I couldn’t walk past it and do nothing. I had to go in.
I decided on the 20 minute foot massage: the shallow end of the pool.
I got into my massage cubicle, took off my shoes and socks, and laid on my back.
The minute the foot massage started, I wasn’t thinking about how good it felt. I was thinking about how much it was costing me.
Sure, the price was $20, but what was the opportunity cost of that 20 minutes?
I realized that I really had no sense of how to measure this.
First thought: I work so much that I only make about $20 on an hourly basis. Maybe this 20 minute foot massage is costing me $6.67 in my time for a grand total of $26.67 ($20 + $6.67).
But it couldn’t be as simple as that, could it?
To really assess what that 20 minutes was worth, I’d have to understand what was the next best alternative to spending it getting my feet rubbed.
Opportunity cost is defined as the utility of the highest utility alternative minus the utility of the selected alternative.
Challenge: How would you get the most value out of 20 minutes on $20?
Prize: $20 Chinese foot massage on me if you even want to spend your valuable time getting your feet rubbed
He’s believed to have said:
Dream as if you’ll live forever, live as if you’ll die tomorrow
If you’re taking notes, he died at the age of 24.
He also loved Chinese foot massages. No, I can’t back that last part up.
If you enjyoed this post, please go comment so we can have “the other” Noah stick around.