50: With Tim Ferriss – Darkness & How to Stay on the Path, Last Days of Life & What to Do, Back-up Plans, Misconceptions
Jocko Podcast
00:00
How to Cap the Downside of a Dream
I always think about this first I don't think about the 800 million I make how can I cap the downside then by all means you're taking in my opinion the measured intelligent approach hey yeah throw a bunch on the wall and see if anything sticks. You just have to be careful what I would suggest everybody do and I'm not sure if it's still on Wikipedia I believe it is study cognitive biasesYeah humans get themselves into a lot of trouble with cognitive biases whether it's sunk cost fallacy you've put X amount of money or time into something and therefore you continue to put good money after bad because you feel like you have to make it back the survivorship bias that I talked about
Transcript
Play full episode
