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The Value of Reducing Risk
The value of reducing risk is decaying exponentially in the length of the time of perils. So if you think we're going to be in peril for 20 centuries or 30 centuries or 50 centuries, you're going to run out of value very quick. The whole punchline of this model is you'll shift to a lower level of risk and that's why you're getting more value. If you're not shifting to three or four or magnitude lower in terms of risk, you're not going to have qualitatively much of a difference in behavior.