The bubble strategy is something that nothing that Lab mentioned in one in anti fragile is book anti fragile. The idea is to allocate part of your efforts or portfolio to safe bets and then a small part of your portfolio to risky bets, which might go to zero but also have a good chance of extreme positive and return. And I think that's something that applies very much not only to investments, but might apply also to career. Sometimes you do want to expose yourself to risk and do it in a way that ensures that you'll keep trying to succeed when things are difficult.
Author and consultant Luca Dellanna talks with EconTalk host Russ Roberts about the importance of avoiding ruin when facing risk. Along the way Dellanna makes understandable the arcane concept of ergodicity and shows the importance of avoiding ruin in every day life.