A Big Bet and Disciplined Entrepreneurship Fueled the Largest Co-working Space in Europe

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🤩🍿 I sat down for a conversation with with Magnus Øgård Meisal, the founder and Group CEO of the spectacular co-working space FOMO. The 3rd clip from our conversation on the Accelerated Learning podcast is available now, check it out!
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💡 In this clip, Magnus Meisal shares the story of how he and his partner were looking for opportunities to expand the co-working space Innovation Dock to the Forus industry area in Stavanger, Norway. As part of the search, a real estate diamond in the rough presented itself, along with an opportunity of a lifetime. Magnus explains how making a big bet and abiding by the principles of disciplined entrepreneurship, lead to the creation of the largest co-working space in Europe, at one location. A new, fresh and playful real estate giant housing tech start-ups and scale-ups was born!
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🚀 By education Magnus is a civil engineer from the University of Stavanger (UiS). During his time at university, he led Start UiS, an organization that promotes innovation and entrepreneurship. While studying, he also developed the idea for MyBox, to use shipping containers for student housing. Later on, Magnus was also involved in the establishment of the co-working space Innovation Dock, in which he held a lead role for 2 years.
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After leaving, he founded and headed the extraordinary co-working space FOMO at Forus. FOMO has become a great success, now spanning 75 000sqm and is valued at more than 130 MUSD.
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💚 At heart, Magnus is an entrepreneur who values structure, but not when it hampers innovation, and his vision remains to foster communities, create meaningful experiences and environments.
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Intelligence vs. Wisdom

Intelligence is knowing how to win the game.
Wisdom is knowing which game to play.
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This relates to the difference between effectiveness and efficiency.
Efficiency is building a road quickly.
Effectiveness is building it in the right direction.
Efficiency doesn't matter, if it does not follow effectiveness.
Actually, it can be counterproductive, as you would be wasting both time and resources if you are being efficient, but working on the wrong things.
First, you need to ensure that you are working on the right things,
which comes down to analysis and prioritization.
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Similarly, wisdom is intelligence applied where it really matters.
Refined intelligence if you will.
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Food for thought: Do you know which games to play in your life?
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How to Improve Decisions About Health, Wealth and Happiness

"Nudge: Improving Decisions About Health, Wealth, and Happiness" (2008) by Richard H. Thaler is a groundbreaking book that provides a new perspective on how people make decisions. The book argues that people are often influenced by their environment and the context in which they make decisions, and that small changes in this environment can have a big impact on the choices people make. Thaler and his co-author, Cass Sunstein, introduce the concept of "choice architecture," which refers to the design of the environment in which people make decisions. They argue that by making small changes to this environment, or by "nudging" people in a certain direction, it is possible to steer people towards better decisions that improve their lives.

The impact of the book has been significant, both in academia and in public policy. The book has been widely praised for its insights into human decision-making and its practical applications for policymakers. Thaler and Sunstein's ideas have been adopted by governments around the world, incl. the UK, Australia, and the US, who have set up "nudge units" to apply these principles to public policy. The book has also sparked a lively debate about the ethics of nudging, with some critics arguing that it can be manipulative or paternalistic. Overall, the book has been a powerful force in shaping our understanding of decision-making and how we can use this knowledge to improve people's lives.
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Thaler received numerous awards and honors for his work, including the Nobel Memorial Prize in Economic Sciences in 2017.
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This article covers the book's key points, a great example story and the most significant quotes, as well as links to videos of Richard H. Thaler's best talks.

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