updated 1d ago
Optionality: How to Survive and Thrive in a Volatile World
Welcome to the future, babies. It's not always going to be like this, but we can expect the highs to be higher, and the lows to be lower. Which brings us to the central premise of this book: how can we position ourselves to not only survive this kind of uncertainty, but profit from it?
from Optionality: How to Survive and Thrive in a Volatile World by Richard Meadows
Jean-Charles Kurdali added 1mo ago
Here's the simplest definition of optionality: Optionality = the right, but not the obligation, to take action
from Optionality: How to Survive and Thrive in a Volatile World by Richard Meadows
Jean-Charles Kurdali added 1mo ago
Some goals are Terminal; we want them because we want them. Other goals are Instrumental; we want them because they move us closer to the thing we really want. While we often act like 'get money!' is a terminal value, it's almost purely instrumental: collecting scraps of paper with some dead guy's face only makes sense if we can swap them for thing
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Jean-Charles Kurdali added 1mo ago
there is a systematic approach for doing exactly this, and it's called 'having optionality'. It's impossible to know exactly what your future self will want, but you can predict with near 100 per cent certainty they’ll be grateful you’ve set them up with high-quality options: financial capital, good health, valuable relationships, and useful skills
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Jean-Charles Kurdali added 1mo ago
The evolutionary psychologist Geoffrey Miller divides the products of consumer capitalism into two broad categories: the self-stimulating, and the status-seeking. Self-stimulating products are designed to push the hot buttons in the most ancient part of our brains—bypassing the higher functions, and making a direct appeal to the Reptile. Why do we
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Jean-Charles Kurdali added 1mo ago
Here’s the barbell strategy for stuff: Buy the very best-in-class for a small set of items, buy the cheapest possible version of everything else, and avoid the middle ground.
from Optionality: How to Survive and Thrive in a Volatile World by Richard Meadows
Jean-Charles Kurdali added 1mo ago
So that's my promise to you. On the defensive side, this book will get you into the position of 'not losing'. On the aggressive side, it will maximise your chances of hitting the big one. You can never be sure if the universe will come to the party, but optionality is the best system for making your own luck.
from Optionality: How to Survive and Thrive in a Volatile World by Richard Meadows
Jean-Charles Kurdali added 1mo ago
EUDAIMONIA. (noun) from the ancient Greek εὐδαιμονία: The ideal state of human flourishing. To go beyond happiness, health, and prosperity, to living a meaningful and virtuous life.
from Optionality: How to Survive and Thrive in a Volatile World by Richard Meadows
Jean-Charles Kurdali added 1mo ago
The second rule of thumb is that when there are no consequences for being wrong, or there is no ‘wrong’, don’t be embarrassed to follow the crowd. The reason we dance in unison, or sing together, or march in line, or wear uniform-like fashions, or swap in-jokes and memes, is that it feels pretty great to be a part of the hivemind.
from Optionality: How to Survive and Thrive in a Volatile World by Richard Meadows
Jean-Charles Kurdali added 1mo ago