A set of bets that, when accepted, yields a guaranteed loss.
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The historical significance of urban centers
The impact of cultural and technological advances
The role of urban centers in shaping society
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Elon Musk uses decision trees to make big decisions (a tool that uses a tree-like graph or model of decisions and their possible consequences, outcomes, and resources). They are particularly useful for avoiding stupid risks and big bets that aren’t likely to succeed.
Most became a billionai...
Corporations managing risk themselves face a fundamental question: why do they need to do it? Individuals and investment groups can manage the risk on their own. Making good investments seems like a better option.
Hedging bets are mostly fictional transactions that don’t affect the value o...
Take weight loss. Imagine you want to lose 100 pounds. You avoid sugar, count calories, and it yields big results at first. You lose two pounds a week. But, subsequent efforts yield smaller and smaller results. You then add more exercise or more research, only to find tiny return...
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