implementation

depending on how fast the puck is already moving. Nonlinearity means that the act of playing the game has a way of changing the rules.

No, the difficulty is not the lack of ideas. The difficulty is to develop a taste for which strategy is suitable for your personal circumstances and goals, and which ones look viable even before you devote the time to diligently backtest them. This taste for prospective strategies is what I will try to convey in this chapter.

5. Explanations vs. predictions

The search for rules and essences, the obsession with process and sculpting, is ultimately a search for explanations . Explanations are the holy grail of the West—they are what we search for in science, business, and life. Consider the questions we tend to ask any successful person: “Can you explain how you got here?

we remember more when we are interested and motivated. Chances

But what are the three emails you regularly get from Uber? “It is now cheaper than it was before” (lowered inhibiting cost), “There are now more drivers on the road” (lowered inhibiting wait time), and “We can now go somewhere we couldn’t before” (lowered inhibiting range). Uber’s entire business is based on reducing inhibiting pressure.

Ergodic systems, in other words, exhibit a particularly safe and comforting sort of statistical regularity.

Experimentation began anew after the war. Amphibious landing ships were recycled as “roll on–roll off” vessels to transport trucks along the coast, improving on techniques originally developed to land troops and tanks in over-the-beach invasions.

Don’t experience new things because you enjoy new things but rather because you are opening up your perception to new things.

Whether a firm was a start-up or a diversified firm had little impact on its success rate. What mattered appears not to have been its organizational form, but whether it was a leader in introducing disruptive products and creating the markets in which they were sold.