Exploring and Exploring

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I spent most of my early, timid twenties travelling the world. Ive found a lot of things that just work for me. Like i am happier in beach towns. And being in a city allows you to get more data points more quickly on the different avenues that you want to pursue. Yes, without being too judgment i always think it's so crazy that people settle down after only having dated one person,. or only having lived in one place, or only eter having worked one career. It must be a lot easier than this constant meddling around trying to figure things out.

In this episode, Cal and Steph discuss the hidden side of risk: the infrequent, often unpredictable events that make the biggest differences in our lives.

If you look around, rare, high-impact events are everywhere.

A small number of days in the stock market drive the bulk of the returns.
Large businesses like Google, Amazon, and Best Buy have tested thousands of products, yet have a single profit puppy.
Insurance companies make money on most customers, but have to pay out very large claims to a few people.
A handful of people have had more of an effect on the future than the other 7 billion people combined.

This episode is all about navigating tail risk and tail opportunity. You'll learn how to better avoid the catastrophic events in life, and on the flip side, to take advantage of the life-enhancing opportunities with asymmetric upside.

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