Category Archives: Antifragility

Live Like a Hydra — Better Humans | Medium

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#5 An antifragile way of life

An antifragile way of life is all about finding a way to gain from the inevitable disorder of life. To not only bounce back when things don’t go as planned, but to get stronger, smarter, and better at continuing as a result of running into this disorder.

First, here are some principles that come from Antifragile:

  1. Stick to simple rules
  2. Build in redundancy and layers (no single point of failure)
  3. Resist the urge to suppress randomness
  4. Make sure that you have your soul in the game
  5. Experiment and tinker — take lots of small risks
  6. Avoid risks that, if lost, would wipe you out completely
  7. Don’t get consumed by data
  8. Keep your options open
  9. Focus more on avoiding things that don’t work than trying to find out what does work
  10. Respect the old — look for habits and rules that have been around for a long time

The general underlying principle here is to play the long game, keep your options open and avoid total failure while trying lots of different things and maintaining an open mind.

Things that don’t fit into these principles (that you’re probably more familiar with):

  • Giving something up cold turkey

  • Going all in with a single big change for a short period of time

  • Tracking everything

  • Using the latest and greatest gadgets and apps

via Live Like a Hydra — Better Humans — Medium.

OVERQUALIFICATION AS CONVEX ANTIFRAGILE HEURISTIC

OVERQUALIFICATION AS CONVEX ANTIFRAGILE HEURISTIC
A general convex Antifragile heuristic: In your hobbies, be underqualified; when it comes to work with others, and delivering services to them be overqualified.Written that way, it looks trite but it looks like the modern environment drives people to the exact opposite. We are aware of the need for margins of safety in engineering (robust redundancies) but not in professional careers (outside of engineering and intelligent professions).
There is nothing more stressful (and fragile) than operating professionally at one’s qualifications level, rather than below, prone to terminal and humiliating mistakes: like, say, a professor teaching an advanced subject rather than one for which he is sufficiently overqualified, or writing to the general public about a subject one does not master fully (and being vulnerable like Pinker to the point of having to defend oneself from people like me, or Robert Merton in spite of his “Nobel” having to lobby to defend his reputation against Derman, Haug, and I). Or, worse, writing a book review (say Michiko Kakutani or Julian Baggini) on a topic over one’s head, hence making mistakes that stay forever on one’s record. Now, competitive sports, journalism, and competitive academia are just that: persons and groups both vulnerable to reputational changes and pushed to the limit of their competence, sitting in a state of insecurity as one single error can wreck their careers, yet needing to operate at that margin because of the competitive framework.A professional convex heuristic is to 1) never write or teach about anything one has to look-up in a library or a book, 2) under-argue (prove in words things that has been derived more rigorously in math outside the books) and 3) to open oneself to nitpickers in a way to learn to make errors of small consequence. My personal rule is to publish no confirmatory “empirical” work: all arguments should be grounded in logic, mathematical inequalities, and disconfirmatory empiricism. After 1700 pages of the INCERTO and 1145 of technical work, and many, many powerful (and/or tenacious) enemies, I haven’t encountered yet a mistake that cannot be reversed from within the sentence. (The Black Swan was written below the needed level, in words not math & there was the buffer of all these mathematical arguments to support the claims, so those who tried to fuck with it have been humiliated).

Barbell: Be aggressive in private, be robust in your public work. You will sleep well at night.

via OVERQUALIFICATION AS CONVEX… – Nassim Nicholas Taleb | Facebook.

Is Your Business Fragile? Or Antifragile?

Perversely, however, the very governmental policies that are designed to protect us all from the dangers of economic cycles and random problems are in fact making the world economy ever more fragile – more vulnerable, as a system, to unforeseen problems. And as I’ve written before, this is exacerbated by the increasing interconnectedness of our entire world economic system, which tends to speed up the “feedback loops” that drive cascades of sentiment and interactions. The recent economic crisis is a perfect illustration of his point. The simple fact is that there is no such thing as an invariant antifragile system – that is, tranquility and invariability inevitably lead any complex system (like the world economy) to become fragile, getting more rigid and increasingly vulnerable to unforeseen events the longer the system remains unstressed by changes.

Unfortunately, it is the ability of individual businesses to fail that makes the overall economic system antifragile. According to Taleb, “In a system, the sacrifices of some units—fragile units, that is, or people—are often necessary for the well-being of other units or the whole. The fragility of every startup is necessary for the economy to be antifragile, and that’s what makes, among other things, entrepreneurship work: the fragility of individual entrepreneurs and their necessarily high failure rate.” So business failures are unfortunate, but they are necessary.

If this were all there were in Taleb’s book it would be well worth the read, but there is much more.

via Don Peppers Is Your Business Fragile? Or Antifragile? | LinkedIn.

News is bad for you – and giving up reading it will make you happier

News misleads. Take the following event borrowed from Nassim Taleb. A car drives over a bridge, and the bridge collapses. What does the news media focus on? The car. The person in the car. Where he came from. Where he planned to go. How he experienced the crash if he survived. But that is all irrelevant. What’s relevant? The structural stability of the bridge. That’s the underlying risk that has been lurking, and could lurk in other bridges. But the car is flashy, it’s dramatic, it’s a person non-abstract, and it’s news that’s cheap to produce. News leads us to walk around with the completely wrong risk map in our heads. So terrorism is over-rated. Chronic stress is under-rated.
The collapse of Lehman Brothers is overrated. Fiscal irresponsibility is under-rated. Astronauts are over-rated. Nurses are under-rated.We are not rational enough to be exposed to the press. Watching an airplane crash on television is going to change your attitude toward that risk, regardless of its real probability. If you think you can compensate with the strength of your own inner contemplation, you are wrong. Bankers and economists – who have powerful incentives to compensate for news-borne hazards – have shown that they cannot. The only solution: cut yourself off from news consumption entirely.

HatTip to Dave Lull
via News is bad for you – and giving up reading it will make you happier.