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59: Ergodicity and Decision-making with Luca Dellanna

The Knowledge with David Elikwu

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The Benefits of Being Average

If you are average for a very long time, the benefits of being average, they compound. And if you manage to make them compound for much longer than everyone else, you end up as very good. The second phenomenon you want to consider is I always take the example of Elon Musk Elon Musk, great entrepreneur, also great risk taker. He's the richest person in the world. How much of his fortune is due to luck? Even if he was extremely skilled, most of his fortune would be due to luck. So once you realize that you need to take extreme risks and play a usual game, then it doesn't matter whether you're rich or not.

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