Pareto Principle, the 80/20 Rule, and More Jumbotron Antics
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Episode Milestone
Hosts note that Episode 75 feels like a meaningful number (cool, but not as significant as 60 was for them). Next true milestone will be Episode 100, expected in ~25 weeks.
Word of the Episode: Pareto (Pareto Principle)
Definition: The Pareto Principle or 80/20 rule: roughly 80% of consequences come from 20% of causes.
History:
Coined by Italian economist Wilfredo Pareto (1848–1923), originally observing that 20% of Italians owned 80% of land.
Later applied by Joseph Juran to quality control (20% of causes lead to 80% of defects).
Other Names: “Vital few,”…
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