Audio available in app
Tail events drive everything from "summary" of The Psychology of Money by Morgan Housel
The world is shaped by extreme events that lie far outside the realm of normal expectations. These tail events, as they are called, have an outsized impact on the course of history, economies, and individual lives. While they are rare, they are also inevitable. It's in the nature of things that the most improbable events do happen, and they do so with surprising regularity. Tail events are the outliers that drive everything - from the rise and fall of civilizations to the success and failure of businesses. They may not be predictable, but they are certainly influential. Think of the stock market crashes, wars, pandemics, and technological breakthroughs that have reshaped the world we live in. These events were all tail events that had a lasting impact on societies and economies. Understanding the power of tail events is crucial for making sense of the world and planning for the future. While we c...
Similar Posts
Enabling is empowering
Enabling others to do things is a form of empowerment, a way of increasing their ability to act in the world. When we enable so...
Foster resilience in the face of adversity
Life is not always a smooth journey; it is filled with ups and downs, challenges and obstacles. It is during these difficult ti...
Be a lifelong learner and always seek to improve
In a rapidly changing world, the key to success is not just adapting to change, but embracing it. This requires a mindset of co...
Embrace uncertainty and take calculated risks
Embracing uncertainty and taking calculated risks are essential components of success. Life is unpredictable, and we must learn...
Have the courage to speak your mind
Having the courage to speak your mind is about being unafraid to express your thoughts and opinions, even when they may be unpo...
Building a strong identity based on your values and beliefs is key to changing your personality
It's easy to think that your personality is fixed and unchangeable. After all, you've been living with it for years. But the tr...
Be willing to learn from your mistakes
Learning from your mistakes is a crucial aspect of personal growth and development. It requires humility and a willingness to a...
Focus on what you can control
One key principle discussed is the importance of focusing on what you can control. This concept is crucial when it comes to man...
Wealth is attainable through discipline and determination
To achieve wealth, discipline and determination are key. Without these qualities, it is nearly impossible to accumulate substan...
Learning from failure is a necessary step towards success
In the pursuit of success, failure is often seen as an obstacle to be avoided at all costs. However, in "Beyond," Stephen Walke...