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The Great Mental Models, Volume 3: Systems and Mathematics
The third book in the timeless Great Mental Models series.
Time and time again, great thinkers such as Charlie Munger and Warren Buffett have credited their success to mental models–representations of how something works that can scale onto other fields.
Mastering a small number of mental models enables you to rapidly grasp new information, identify patterns others miss, and avoid the common mistakes that hold people back.
Volume 3 of The Great Mental Models series focuses on systems and mathematics, simplifying more than twenty-four key concepts from these technical fields into easy-to-understand terms. It provides insights into the unseen mechanisms that influence our environment and teaches you how to apply these principles to benefit your life.
Some of the mental models covered in this book include:
- Margin of Safety: Engineers design for extremes, not averages. To create a robust system, ensure a meaningful gap between what the system is capable of handling and what it is required to handle.
- Compounding: The most powerful force in the universe can work in domains other than money.
- The law of diminishing returns: Inputs to a system lead to more output, up until a point where each further unit of input will lead to a decreasing amount of output.
- Regression to the mean: Above- or below- average performance tends to correct towards the average over the long term.
The Great Mental Models series demystifies once elusive concepts and illuminates rich knowledge that traditional education overlooks. This series is the most comprehensive and accessible guide on using mental models to better understand our world, solve problems, and gain an advantage.
- Listening Length9 hours and 13 minutes
- Publication dateOctober 15, 2024
- LanguageEnglish
- PublisherPenguin Audio
- ASINB0D3VKP9PQ
- VersionUnabridged
- Program TypeAudiobook
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Product details
| Book 3 of 4 | The Great Mental Models |
|---|---|
| Listening Length | 9 hours and 13 minutes |
| Author | Shane Parrish, Rhiannon Beaubien, Rosie Leizrowice |
| Narrator | Grover Gardner |
| Whispersync for Voice | Ready |
| Audible.com Release Date | October 15, 2024 |
| Publisher | Penguin Audio |
| Program Type | Audiobook |
| Version | Unabridged |
| Language | English |
| ASIN | B0D3VKP9PQ |
| Best Sellers Rank |
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Top reviews from the United States
- 5 out of 5 stars
great mental models
Reviewed in the United States on May 10, 2025Enjoying the series. Lots of applicable mental models that helps us think through life. Looking forward to reading the next one in the series
Sending feedback...Sending feedback...HelpfulThank you for your feedback.Sorry, we failed to record your vote. Please try againThanks, we'll investigate in the next few days.Sorry, We failed to report this review. Please try again - 3 out of 5 stars
Usurps Legitimate Concept Labels to Sound Fancy
Reviewed in the United States on September 12, 2025My review is not about physical quality. There may be two physical implementations of the book. Mine was red & big.
My low rating of 3 stars is due to an irritation. There are plenty of interesting ideas , stories , notions. However, it irritated me to no end how the author usurps legitimate concepts from mathematics, etc. to use as fancy labels. The notions in the book are often NOT those labels, NOT the fully genuine notion in the respective field.
An excellent example -- and one that makes my [perhaps] vague statement of the previous paragraph more concrete -- is this one. Algorithm is absolute NOT a procedure. That's why we have the word 'procedure'. The author talks about screening many animals for ____ and thereby finding ____. Yes, I forget the exact details. But what was done was a procedure, NOT an ALGORITHM. An algorithm means that there is a logical entailment or set of logical entailments that thereby drives a search for a procedure that will satisfy those logical criteria / those logical implications / those logical restrictions. A procedure that does accomplish the goal of obeying those LOGICAL CONSIDERATIONS then is an algorithm.
Highfalutin terms are usurped throughout the book. (I read every word.) The legitimate applicability of the usurped terms varies from 0% applicable, to perhaps 80% or more, depending. But most concepts spoken of are NOT those of the fancy label.
Perhaps business people do that to sound fancy or pompous. They ought to invent their own words instead of erroneously usurping legitimate notions from other fields. "Churn" is an example where the business notion is done correctly. It is given a business word, rather than usurping a term from another field that has myriad implications for the field it was stolen from, but not for the business example or notion. "Churn" was OK, but many others were not.
In truth, as a scientist, metrologist (astute at measurement influences), statistician, philosopher -- but only the 1st (scientist) officially -- I just found the usurping ot terms insulting. Perhaps you wouldn't care at all. Then, if that be so, the rating would be 4-stars for the book. Still not 5 stars though.
5 people found this helpfulSending feedback...Sending feedback...HelpfulThank you for your feedback.Sorry, we failed to record your vote. Please try againThanks, we'll investigate in the next few days.Sorry, We failed to report this review. Please try again - 1 out of 5 stars
Looks used
Reviewed in the United States on December 22, 2024I bought this gift for a Christmas gift, and I am embarrassed to give it now since it came with grease marks all over the cover. Too late to order another, so I will leave it up to the recipient as to whether or not he returns it.

I bought this gift for a Christmas gift, and I am embarrassed to give it now since it came with grease marks all over the cover. Too late to order another, so I will leave it up to the recipient as to whether or not he returns it.
Sending feedback...Sending feedback...HelpfulThank you for your feedback.Sorry, we failed to record your vote. Please try againThanks, we'll investigate in the next few days.Sorry, We failed to report this review. Please try again - 1 out of 5 stars
damaged
Reviewed in the United States on December 10, 2024came damaged
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Top reviews from other countries
Sharikc5 out of 5 starsone of the best tools for structured decision making
Reviewed in India on November 10, 2024This is in my top 10 books of all time. Am looking forward to reading the Mental Models of Economics and Art. I have studied economics, but the mathematics of art would be a lovely companion in my life.
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Pip Boy2 out of 5 starsGood content. Poor book quality
Reviewed in Singapore on January 3, 2025Shane and his blog, Farnam Street, have always been a favorite of mine. I purchased this edition print because I’m a huge fan of the first edition. However, I’m disappointed with the quality of the print and paper. I understand that keeping costs low is important, but the pages were printed crookedly, and most of the illustrations from the first edition are missing. (I assume they’re sticking to black and white printing to keep costs down.) Despite these issues, I still love the content, but the crooked pages were a major distraction.
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Bob Loblaw2 out of 5 starsToo expensive for what it is!
Reviewed in Canada on November 5, 2024Book was smaller than previous in the series. This one felt like it was printed off from the website. So disappointed.
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SJim5 out of 5 starsQuality
Reviewed in the United Kingdom on March 8, 2025A quality read by Shane.
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Ulises Wensell Martinez1 out of 5 starsCubierta maltratada
Reviewed in Spain on November 15, 2025Cubierta maltratada y deteriorada con roces y golpes.
Pero el libro es un magnífico ensayo. Estoy muy satisfecho por su enriquecedor enfoque. Un gran libro que recomiendo.



Cubierta maltratada y deteriorada con roces y golpes.
Pero el libro es un magnífico ensayo. Estoy muy satisfecho por su enriquecedor enfoque. Un gran libro que recomiendo.
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