When Should You Go From Exploring to Exploring?

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When should you go from exploring to exploiting? From a computer science perspective, the answer is 37 %. We operate as if the next few years will be very similar to this year and the year that came before it. But we don't know what's going to happen. So maybe that's plug to enjoy life: It's short, and you don't be grateful for what you have now. I share one funny way in which telebove has conceptualized the black face. And basely says that imagine a human who catches a turkey at his best day on 20vember; he feeds it every day until Thanksgiving. He takes care of me so much because i couldn't barely feed

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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