Antifragile

by Nassim Taleb

5*/10

Key Ideas:

Fragile (breaks under stress) vs Robust (handles stress but does not improve) vs Antifragile (grows under stress)
Be antifragile – avoid ruin and catastrophic risks, expose yourself to many small, high upside, low downside risks.

Other interesting notes:

Removing things is usually an easier way to improve a system (e.g. remove sugar to improve health, rather than try unproven supplements).

We don’t procrastinate when a lion is attacking, but procrastinating responding to an email is probably fine.

People without “skin in the game” are prone to failure. Never ask anyone for their opinion, forecast, or recommendation. Just ask them what they have, or don’t have, in their portfolio.

Something being marketed is necessarily inferior, otherwise it would not need to be aggressively marketed. Marketing beyond conveying information is insecurity.

Procrustes would capture travelers and put them in his bed, stretching them on a rack if they were too short for it or chopping off their extremities if they were too tall. When we destroy variations to fit a model, we do similar harm.

Thoughts on the book:

*Great idea, could be a blog post.

Longer summary/notes: NE

If you like this, you’ll probably like: Black Swan, Skin in the game, Fooled by randomness