When the 9/11 terrorist attacks happened on the world trade center, one would assume that almost everybody inside the twin towers must have panicked and would have started evacuating as soon as the emergency struck.
Unfortunately, it wasn’t the case.
Unfortunately, it wasn’t the case.
9/11 survivors say they remember gathering belongings before leaving offices and cubicles.
They put on coats and called loved ones. They shut down their computers and had conversations.
As they were descending the emergency exit, most moved leisurely — no screaming or running
They put on coats and called loved ones. They shut down their computers and had conversations.
As they were descending the emergency exit, most moved leisurely — no screaming or running
This is called Normalcy Bias.
The tendency to assume an abnormality as normal even though the abnormality is clearly a sign of impending disaster.
It causes people to underestimate both the possibility of an emergency and its grave effects.
The tendency to assume an abnormality as normal even though the abnormality is clearly a sign of impending disaster.
It causes people to underestimate both the possibility of an emergency and its grave effects.
As I wonder why many around me are still playing down the #corona situation, I understand that Normalcy Bias is at play.
David McRaney, in his book amzn.to/2U8B8JD, writes —
"In any perilous event, like a sinking ship or a towering inferno, a shooting rampage or ...
David McRaney, in his book amzn.to/2U8B8JD, writes —
"In any perilous event, like a sinking ship or a towering inferno, a shooting rampage or ...
...a tornado, there is a chance you will become so overwhelmed by the perilous overflow of ambiguous information that you will do nothing at all. You will float away and leave a senseless statue in your place. You may even lie down. If no one comes to your aid, you will die."
Lord Maynard Keynes, said “When the facts change, I change my mind. What do you do, sir?”
The facts changed for me when I read this —medium.com/@tomaspueyo/co…
The facts changed for me when I read this —medium.com/@tomaspueyo/co…
Except a handful of centenarians, no one in this world was present at the time of last pandemic (Black death, Spanish flu).
This #Corona outbreak is an unprecedented event. Unlike anything that most people have seen before.
This #Corona outbreak is an unprecedented event. Unlike anything that most people have seen before.
In his 90th year, Warren Buffett these days gets asked a lot about his succession plan at Berkshire Hathaway.
He says that he wants someone who is genetically programmed to recognize and avoid serious risks, including those *never before encountered.*
He says that he wants someone who is genetically programmed to recognize and avoid serious risks, including those *never before encountered.*
The ability to anticipate and prepare for risks that have never materialized before is a rare trait.
But most of the times, mitigating the grave risks associated with these Black Swan events is as simple as —
Avoiding debt,
Washing hands frequently and,
Staying at home
But most of the times, mitigating the grave risks associated with these Black Swan events is as simple as —
Avoiding debt,
Washing hands frequently and,
Staying at home
