Dearest,
I am about to finish my second book of 2024, The Great Mental Models (Vol.1).
So here’s something I read that I couldn’t wait to share with you. It’s a concept called anti-fragile by Nissim Taleb. I simplified it for myself while reading, and this is the my version:
How do we benefit from the uncertainty of a world we don’t understand?
Consider three categories when considering volatility:
Objects that are harmed by it
Objects that stay neutral
Objects that benefit from it/objects that are antifragile
Up to a point, certain things benefit from volatility, and that’s how we want to be. Why? Because the world is fundamentally unpredictable and volatile.
There are two ways to handle such a world: try to predict, or try to prepare. Prediction is tempting, but it is also impossible! It’s more efficient to prepare.
What are some ways we can prepare—arm ourselves with antifragility—so we can benefit from the volatility of the world?
First way is called “upside optionality”: Seeking out situations that we expect have good odds of offering us opportunities.
For example, you attend a cocktail party. Your chances of meeting interesting people increases. The worst thing that can happen is ... nothing. But sitting at home, you will never meet them. By saying yes, you improve your odds at opportunities.
The second thing we can do is to learn how to fail properly.
There are 2 components of failing properly:
Never take a risk that will take you out of the game completely.
Fail quickly (have rapid feedback loops) and then restart.
No one likes to fail. It hurts.
But failure carries with it one huge antifragile gift: learning. And what you learn makes you less vulnerable to the volatility of the world.
Definitely something worth thinking about, and more importantly, worth trying.
Tell me what you’ve been reading/share a snippet that has stuck with you! You know I love hearing from you. 💗
Wondering how you can support me?
You can contribute via GPay or UPI and show The Nook some love here: riya.roy6@axisbank
or,
See you next Sunday,
Love, Riya
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