|
From the Editor's Desk
There's no actual skill called "business": Naval
Nassim Taleb made his fortune, his wealth by being a trader who basically relied upon black swans. Nassim Taleb made money by losing little bits of money every day and then once in a blue moon he would make a lot of money when the unthinkable happened for other people.
Whereas most people want to make little bits of money every day and in exchange they'll tolerate lots of blow-up risk, they'll tolerate going completely bankrupt.
We're not evolved to bleed a little bit every day. If you're out in the natural environment, and you get a cut and you're literally bleeding a little bit every day, you will eventually die. You'll have to stop that cut.
We're evolved for small victories all the time but that becomes very expensive. That's where the crowd is. That's where the herd is. So, if you're willing to bleed a little bit every day but in exchange you'll win big later, you will do better.
That is, by the way, entrepreneurship. Entrepreneurs bleed every day.
Continued here
Read TradeBriefs every day, for the best insight!
Advertisers of the day INSEAD: The INSEAD Leadership Programme for Senior Executives - India Wharton Business Analytics Team: Wharton's Business Analytics Program (Online)
Our advertisers help fund the daily operations of TradeBriefs. We request you to accept our promotional emails.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
97.5 percent of broadband connections in India meet TRAI's 2Mbps speed threshold: OoklaOver 97.5 percent of fixed broadband connections in India meet the 2Mbps speed threshold recommended by the Telecom Regulatory Authority of India (TRAI) earlier this month, telecom network intelligence firm Ookla said on Thursday. The regulator proposed to revise the minimum broadband speed to 2Mbps from 512Kbps. Ookla stated that the revision didn’t shift the […]
|
|
TradeBriefs Publications are read by over 10,00,000 Industry Executives
About Us | Advertise
Privacy Policy You are receiving this mail because of your subscription with TradeBriefs. Our mailing address is GF 25/39, West Patel Nagar, New Delhi 110008, India
|