Interesting talk from Thiel in 2015 about the psychological effects of focusing on optionality. Peter Thiel: Different Perspectives On Innovation, Risk and Investing https://buff.ly/34djy9Z
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Replying to @TaylorPearsonMe
Thanks! I’m in the middle of https://www.amazon.com/Failure-Risk-Management-Why-Broken/dp/1501263870 … ... this was a perfect foil.
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Replying to @bhudgeons @TaylorPearsonMe
amazing how when you start thinking about something, it is suddenly everywhere. New
@artofgig post by@vgr:https://artofgig.substack.com/p/training-your-nerves …1 reply 0 retweets 2 likes -
There’s a basic tradeoff here that goes back ages. If you have a resource, there’s 3 regimes: scarcity, sufficiency, and abundance, which map to leveraged usage, optimal usage, optioned usage. Where the resourcecstate is measured on a subjective marginal utility curve.
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Replying to @vgr @bhudgeons and
Example if you have a volatile supply of apples and no cold storage: 0-1 apple/week = leveraged use as a salad accent 2-5 apples/week = just eat’em 5-15 apples = learn recipes for pies, cider, preserves, apple sauce, wine, etc, make as needed $ is a bit more complex than apples
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Kinda interesting when billionaires have $ that for most people would be in extreme abundance range, like a billion apples a week, but treat it like 1 apple and leverage it into space programs salad, restoring-the-monarchy salad etc. You could classify billionaires this way
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