#050 - Fooled by Randomness: Nassim Taleb (Incerto Series)
Description
Learn from history's Greatest Minds — and find Timeless ideas you can apply to business and life. Every episode we explore a Lindy book: We strive to become polymaths like our investing and business icons, pulling the Big Ideas from a wide range of disciplines to help us become better investors and operators. For the curious-minded seeking Worldly Wisdom. Join 3,000+ others by subscribing @ rationalvc.com to get free access to essays and exclusive content.
For the video version of this episode click here.
Timestamps:
(00:00 ) Intro / chit-chat
(20:11 ) Randomness & Luck
(24:46 ) Monte Carlo Simulation
(31:09 ) Ergodicity
(31:39 ) Hindsight Bias
(38:00 ) Survivorship Bias
(39:50 ) Asymmetric Bets / John & Nero
(49:53 ) Skewness & Asymmetry
(57:19 ) Pascal's Wager
(1:00:53 ) Induction & Chaos Theory
(1:03:22 ) Chapter 11
(1:08:45 ) System-1 vs System-2 Thinking
(1:10:03 ) Satisficing
(1:20:08 ) Normative vs Positive Thinking
(1:25:52 ) Signal vs Noise
(1:28:20 ) Heuristics
(1:33:45 ) Final Part of Book (Part 3's Importance)
(1:44:41 ) Favourite Quotes / Our Lives
(2:06:11 ) Final Thoughts
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