Nassim Taleb - DO NOT Try to be Resilient. Do this Instead
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- เผยแพร่เมื่อ 19 มิ.ย. 2024
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I share 23 powerful Nuggets from top Influential Doers (in their own words), with added 🎆 visuals (to make it super easy to understand) and my own 💭 reflections.
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🧠 Quotes
" A system that does not convert stressors / problems / variability to fuel is doomed" - Nassim Taleb
"A blazing fire makes flame and brightness out of everything that is thrown into it. // The impediment to action advances action. What stands in the way becomes the way" - Marcus Aurelius
"Never let a mistake go to waste. Learn from every mistake to become better." - Nassim Taleb
"Forgetting your mistakes is a terrible error if you are trying to improve your cognition." - Charlie Munger
👨 Speakers
1) Nassim Taleb
Nassim Taleb's work concerns problems of randomness, probability, and uncertainty. Author of many successful books, including The Black Swan, which The Sunday Times considers one of the 12 most influential books since World War II.
2) Daniel Kahneman (source: wikipedia)
Daniel Kahneman is notable for his work on the psychology of judgment and decision-making, as well as behavioral economics, for which he was awarded the 2002 Nobel Memorial Prize in Economic Sciences (shared with Vernon L. Smith). His empirical findings challenge the assumption of human rationality prevailing in modern economic theory.
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-------- Time Codes ----------
0:00 - Nassim Taleb & Daniel Kahneman on Nassim's Book "Antifragile"
13:04 - Reflections & More
14:09 - Shortform: The platform where I get the BEST nuggets from non-fiction Books
16:21 - Thanks!
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Taleb is the king of making simple things sound very complicated.
You read my mind.
Mannn for real. He could've explained this entire video in 1 minute or less 😂
You are and will be blocked forever.
I think of it like this. I don't need resilience if I have faith. Resilience takes personal effort to cope well but faith just copes well.
@@just-a-fella3212 You keep your faith, the rest of the sane world will look to science and reality.
Never let a mistake go to waste.
Need to rethink the banking system in terms of anti-fragility.
❗🌟😎👍
I have been an avid reader of Taleb's books and I have read Anti fragility with a lot of interest- I UNDERSTAND him - I am grateful for articulating this theme!
Thank You !
I read fooled by randomness and black swan and I am must say that fooled by randomness is the one who made a huge impact on me and how to do my investments. I heard it 4 times and highly recommand to hear it as it free as audiobook in TH-cam. The book matches perfectly with the book Thinking fast and slow
For a way to see another important point of view - please read From Good To Great by Mr Collins.
Please do more of Nassim Taleb's videos. Thank you for this amazing content.
Thank you !! Will do :)
@@PickingNuggets Yes yes please do! He makes me feel like an idiot but it has woken me up to my idiocy!
You are advancing humanity with this work! Just wow.
Appreciate your words! Nassim is the best :)
Love these videos!! Happy to have found your channel, and subscribed :)
Thank youu!! ❤
Man, that's good qualitative content!!!
thanks !!
This is a useful construct. One can see many examples of how to apply the construct in order to get a quick read and develop operating theories/assumptions. Today, I was looking at examples of brain drain caused by migrations of the “anti fragile”, leaving behind systems that became fragile without an anti fragile populace. Or US culture over the past 50+ years since The Great Society. Thanks for this.
The Welfare State did that in the timeframe.
Chaos is a ladder. Little finger was anti-fragile
Great points, indeed!
Uh nice! One of my favorite authors! Thank you. :)
thanks for watching :)
Appreciate ur description notes thanks a lot
My pleasure 😊
Thank you for sharing this
welcome :)
He does such good job of simplifying complex topic. Thanks you for posting this.
thank you !
i really love your videos, keep it up, much love from India
Thank you very much ❤
Nissim got the appropriate pandemic response so wrong - he and his group had a kind of "zero-covid" strategy. Surprised that a guy that advocates "antifragility" would go that way.
@Bob Thrasher Notice how any critiques don't get "hearted." Sounds rather fragile.
It's Nassim.
Probably, because you don't understand the concept. Sure, you can be Antifragile by not wearing a seat belt in your car, but when the odds are that like thousands of drivers a year you will get into a crash, and be at least injured, if not killed, and it's proven that wearing a seatbelt reduces your risk, you would be Irrational not to wear it.
Being Antifragile is not about taking stupid risks. It's about reasserting the rational management of risk, instead either being totally oblivious to risk, or being paralysed by risk. Both have undesirable consequences, as can be seen in the American economy today. The risks were poorly managed, because of the uniquely American psychological, political, and intellectual climate. And now, your economy is paying the price of that. It makes the management of systemic risks all the more difficult.
Hello friend! Im interested in your method of processing information. I really love your feature of notes section and kind of admire this concise informative bites. Please inform me about your intentions of not/making this kind of video or suggest some resources to excel at that skill. Love your work ❤️
Anti-fragile might be considered opportunistic, in the sense of benefiting from misfortune of disruption of others.
The idea is interesting, although the example of the plane is not a very good one. The Airline industry has used disasters to construct a system that tries to delete the factors that lead to a crash. Usually, if not always, by standardization of the operational environment; be it maintenance, flight preparation, flight control, etc. So by making the whole system more predictable in its behavior the crashes have been reduced. Not sure he has thought this through enough.
Actually he is correct. I watch lots of youtubers that are Ailine pilots or engineers and they all say the same thing that prior crashes/incidents have brought about vast imporvements in the aireline industry.
I think you missed the point. The airlines do limit their robustness to safety and scheduling, but in everything else they are Antifragile. They work to adapt to changes in consumer behaviour. By making their staffing super-flexible, by updating frequently their aircraft in order to leverage technological gains, optimising routes, leveraging passenger psychology to get free financing (flying points schemes), brand stratification and extension - in all these they are antifragile.
Hey Julio, solid work so far, very helpful. Keep doing what you are doing.
One correction at around 9:38 - it is the "Denial of Antifragility" i.e. not letting something be antifragile. Not "Denial Antifragility". Cheers.
Can you prove using algebra pls
Thank you Harish! You are right it makes more sense like that! I just changed it in the respective newsletter issue that contains all the notes :)
Please explain. Thank you.
Can't believe it's been a decade since antifragile came out. Hell.
Oh my God, I'm thinking the same thing!!! CRAZY
Extraordinary
Subscribe because of the NNT videos. Please make more!
will do :)
With respect to options trading being resilient is akin to being long stocks with protective puts. Being so-called anti-fragile is akin to owning strangles on the market. Everything has a cost, and you will eventually go broke if you keep buying strangles in an attempt to be "anti-fragile." Being resilient is good enough, no need to incur the very high carrying cost of systematically trying to benefit from unlikely highly volitive events. Just make sure you carry sufficient insurance and/or cash/gold so you won't be ruined if they materialize.
I feel like all your vids are low volume. You can try normalizing the audio in your editor before exporting. Great stuff
Thanks for the tip!
Can you explain why banks crush makes next bank crush more likely?
Thanks
one hypothesis: when it crashes, it is bailed out by government. And this reinforces their incentives to take even more silly risks (making it more fragile) given that the bank owners and directors own the upside and can transfer the downside to Society (via the government bail out)
So - a herd of wildebeest would be fragile, since they are prey animals, which run away when attacked by lions, some of them dying in the process. But the vultures who feed off their carcasses are anti-fragile, because they benefit from the chaos of the chase. On the other hand, individual wildebeest - those whose genetic disposition to remain more calm and survive the stampede through their superior mental capacity, for instance - would also be anti-fragile, and able to pass along their genes for that trait, while those who panicked died and thus did not benefit. This assures the continuation of the wildebeest species through time and change. Of course, the lions are also anti-fragile, as are the hyenas who pick the carcasses.
Great perspective! Not sure if it was just me but he didn't get into the difference between resilience & antifragility
He did. From what I understand resilience is when you are not harmed by volatility, whereas antifragile is when you benefit from stressors
If you recover your health after getting a disease you didn't have antibodies against, then your body is resilient with respect to that disease.
Now let's take another disease, against which you wouldn't survive if you got it. If you didn't have antibodies previously, getting an effective vaccine (a stressor) makes your body antifragile with respect to that disease. The stressor made your body "stronger" to defend against that disease.
Nassim is brilliant
@Greg LeJacques ok champ. Congrats you can hurl insults at random people on the internet well done.
Great mind...but I am sketchy on the need of stress that doesn't kill you theory..
But why that Comic Sans font in your video?
I would love to make a T shirt saying: "fail fast, fail often, get fired".
This world is not for the ones that endure life but the ones that enjoy it.
What do you mean is not for the ones that endure life ? What about evolution then ?
@@rihhard1072 survival is for the uninspired. Enjoying life is the only solution.
444. Great observation. I need to learn from that. You’re a smart cat.
@@444haluk "Enjoying it" is a transient state, enduring the valleys knowing that the peaks are ahead is what makes life livable
@@st3ppenwolf Enjoying is only transient if you are in the endure mentality and enjoyment comes from the uncontrollable outside sources. If you enjoy the valleys and peaks, the bad can be as interesting as the good. and they loose the power over your mood.
The interviewer and interviewee share surprisingly similar voices, even the accent.
Boom and bust is not a natural phenomenon in all economic system, only in the mixed economic system that we have boom and bust, because the natural protective mechanisms have been dismantled by government, muddling and controls.
Adaptive
temperable things is a better word than antifragile.
3.30
One plane crash in 7 years?? With in accuracies like that how can we believe the rest of it?
He’s Covid 19 approach was towards resilience, against his teaching .
In "Black Swan", bad events hurt you.
In "Antifragile", bad events make you stronger.
Wait, what? Which is it, then?
It depends on the phenomenon. If you receive an effective vaccine, your body will become antifragile with respect to that disease. Now, if you receive uranium, you'll definitely be fragile. 🤷🏽
Sant Tukaram has said all this in two sentences. In flood big trees fall but grass survives. That is resilience and antifragility.
Where can I see fuĺl talk
Hey! The link is in the description :)
so basically "antifragile" is opportunity, contrary to risk which can be assigned to "fragile"
Become a scholar no you can't study to be smart.
Anti-Fragile = Speculant.
This is not new, it is Adaptability. It is what Darwin pointed out centuries ago, and probably many others before and since
Like a number of Taleb’s other work, a seemingly intriguing single point to make, with lots of repetition, numerous examples, but not really much content here.
Thriving on chaos, exercising anti-fragility doesn’t help much if you’re told you have pancreatic cancer, ALS, or if your helicopter pilot is not-instrument rated and you’re headed into fog; or if your woman (or your investor) is sadistic, or latently psychotic, etc.
Taleb didn’t write you a help manual for your feeble mindedness and/or mortal co-morbidities.
He also didn’t tell you what to do when you pup your shorts.
Sorry.
@@sciagurrato1831 Prepuce, you’re obviously confused. My comments were hypothetical, and intended mainly, to point out to the ignorant, where Taleb’s recent work misses the mark. I failed😀.
@@commanderthorkilj.amundsen3426 frankly, your pointing out where Taleb “misses” is like a 13 year critiquing Plato.
@@sciagurrato1831 Why the need for validation? No one cares about your opinion, but you obviously are bothered enough w/ the need to defend Taleb’s latest mediocre book . Perhaps you should heed your idol’s advice.
@@commanderthorkilj.amundsen3426 sorry about your terminal cancer. Most cases do not initiate in the cranium.
Crypto is a great example.
what?
But it wouldn't save the economy from the collapse anyway.... even it were three times antifragil.
I like these guys better (Taleb, Kahneman) when they are giving us insight based on experiment and not conjecture about surface level patterns. This is close to looking at the stars and seeing Orion, as one commenter below stated about the airline industry you can look at the systems in place and get an entirely different "lesson" from it. then this guy makes another conjecture based on this to say we should "work like a lion". Find a different guru, better yet stop believing in gurus.
Learn from mistake, then act to improve? That's not so big deal.
Your conclusions, ie "Nugget reflections" are ZERO to do with what was said. Feedback loop? Like what? What he said and what you said, the stuff about lion, had nothing to do with each other at all. I don't think you even listened to what they talked about n
This guy gets high on his own farts
A truly as(s)inline comment from a dummkopf
I would like to like him again but when I saw a vid of his a few years ago in which he was trying, in support of him, to intellectualise donald trump he lost me.
Drink the milk, forget the cow.
This man is a liar.
人們分不清楚壓力與風險！
很多時候，所謂的風險管理，只是在舒緩壓力，也就是處理主觀的不安感，進而忽略了客觀真實存在的風險！
th-cam.com/video/dq1rcdEds5Q/w-d-xo.html