The Joe Walker Podcast A Practical Guide To Coping With Uncertainty — John Kay
13 snips
May 17, 2021 AI Snips
Chapters
Transcript
Episode notes
Understanding Radical Uncertainty
- Radical uncertainty arises when we can't know all possibilities or assign probabilities, especially in unique situations.
- Unlike resolvable uncertainty, it involves non-stationary processes deeply affected by human actions and evolution.
Human Storytelling vs Probability
- Human reasoning naturally prefers narrative storytelling over probabilistic thinking.
- Probabilistic mathematics is a relatively recent invention and remains alien to everyday human decision-making.
Manage Risk, Embrace Uncertainty
- Manage risks by ensuring strategies are robust and resilient against unpredictable events.
- Embrace uncertainty as it fosters innovation and opportunity in business and life.