Sublime
An inspiration engine for ideas
knowledge grows by subtraction. Also,
Nassim Nicholas Taleb • Skin in the Game: Hidden Asymmetries in Daily Life
Nassim Taleb put it this way: “Having an ‘edge’ and surviving are two different things: the first requires the second. You need to avoid ruin. At all costs.”
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
Taleb describes this as “the logical-philosophical extension of the black swan problem”. Simply put, predicting events based on observed events is problematic. That is, one cannot expect with certainty that what happened in the past will happen in the future.
Abdul Montaqim • Quicklet on Nassim Taleb's Fooled by Randomness (CliffNotes-like Summary)
expectations.
Nassim Nicholas Taleb • The Black Swan
Nassim Taleb on defining wisdom:
"Wisdom is the ability to put adequate weight to data, facts, and information. In other words, statistical significance"
Knowledge may be the acquisition of information & facts. But wisdom is the correct application of that knowledge at the right time in the right place, using the right judgement. The statistical
... See moreConventional wisdom would recommend incremental improvements to maximize the potential of the existing infrastructure. The fundamental flaw in conventional wisdom is the failure to acknowledge the possibility of a black swan.