The World's Best Book Summaries
What is silent evidence? How does ignoring it give us an inaccurate picture of the world? Silent evidence is the “flipside” to any story we’re told. It’s the tendency to forget that there are details of a situation that we don’t have access to. We’ll cover how the distortion of silent evidence leads to cognitive biases and why these distortions leave us surprised by and unprepared for the world’s randomness.
What is the butterfly effect theory? How is it related to the idea of nonlinearities? How does it explain why we make bad predictions? The butterfly effect theory is the idea that a small change in a nonlinear system can have huge effects in the larger system. This idea was proposed by an MIT meteorologist, who discovered that an infinitesimal change in input parameters can drastically change weather models. We’ll cover what the butterfly effect theory is and how small changes can have large effects.
What is rational choice theory? What is a good rational choice theory example? Rational choice theory is an economic theory that holds that, when faced with an economic decision, individuals will choose the option that gives them the greatest economic benefit. There are many critics of rational choice theory–after all, individuals aren’t always rational. We’ll cover a rational choice theory example and explore the above rational choice theory definition further.
In an unpredictable world, why plan? Is there a way to prepare for unexpected events, even if we can’t exactly plan for them? Why is planning important? We’ll look at the concept of Nassim Nicholas Taleb’s “black swan” and explore why planning is important, even if the world is unpredictable.
What is stage 17 of Joseph Campbell’s hero’s journey? What is the significance of the “freedom to live”? Freedom to live is the stage of the hero’s journey in which the hero has found a balance between his internal and external worlds and he no longer fears death. Freedom to live is stage 17, the last stage, of Joseph Campbell’s hero’s journey, from The Hero with a Thousand Faces. We’ll cover what the freedom to live entails and look at examples of the freedom-to-live stage of the hero’s journey.
What is a black swan in finance? Is there a way to predict and prepare for black swans in finance? We’ll look at some examples of black swans in the financial world and business and explore how to best prepare for future black swans.
What does it mean for something to be “non-scalable”? What does it mean for something to be “scalable”? Can a job be scalable or non-scalable? We’ll cover examples of jobs that are non-scalable and jobs that are scalable to give you a better idea of the benefits of a scalable job.
No one can predict the future. But why? Why are some situations and events more predictable than others? We’ll cover the nature of predictability according to Nassim Nicholas Taleb and look at why it is that no one can predict the future.
What is the black swan fallacy? How is it most famous today? The black swan fallacy is the tendency of people to ignore evidence that contradicts their beliefs and assumptions. This fallacy can also refer to the tendency to believe that things they’ve never witnessed don’t exist. We’ll cover the roots of the black swan fallacy and look at modern-day, black-swan-fallacy examples.
What is stage 4 of Joseph Campbell’s hero’s journey? What is “crossing the threshold”? Crossing the threshold is the stage at which the hero comes to a point where he is further away from the world of comfort and familiarity than he has ever been before. Crossing the threshold is stage 4 of Joseph Campbell’s hero’s journey, from The Hero with a Thousand Faces. We’ll cover what crossing the threshold entails and look at an example of this stage of the hero’s journey.