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Preserving Optionality: Preparing for the Unknown - Farnam Street
In a Harvard commencement speech called The Trouble with Optionality professor Mihir A. Desai defines optionality as “the state of enjoying possibilities without being on the hook to do anything.” With enough optionality, you can always change what you’re doing in order to pursue something better. Desai critiques students for seeing optionality as ... See more
perell.com • Hugging the X-Axis - David Perell
There are two ways to handle such a world: try to predict, or try to prepare. Prediction is tempting. For all of human history, seers and soothsayers have turned a comfortable trade. The problem is that nearly all studies of “expert” predictions in such complex real-world realms as the stock market, geopolitics, and global finance have proven again
... See moreRhiannon Beaubien • The Great Mental Models Volume 1: General Thinking Concepts
What the stoics unearthed and Ferriss rediscovered was this fundamental truth: we frequently avoid making choices not because the outcome is bad, but simply because it’s unknown.
Taylor Pearson • The End of Jobs: Money, Meaning and Freedom Without the 9-to-5
If you aren’t sure what to do, make the choice that preserves or expands future optionality . Remember: Most startups fail. Will you be okay with your choices if (& when) this one does too?
charity.wtf • The Hierarchy Is Bullshit (And Bad For Business)
The first one is what Wall Street traders would call “upside optionality”,
Rhiannon Beaubien • The Great Mental Models Volume 1: General Thinking Concepts
Instead, we want to leave room for doubt. As Karl Weick, an educational psychologist at the University of Michigan, advises in the second opening quote, wisdom is finding the right balance between having confidence in what you know and leaving enough room for doubt in case you are wrong.32 That’s the balance we are looking for here. When we treat t
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