Conditional on our civilization surviving another 100 years, there will be things that today we take granted that will seem dumb stupid:
- Lack of skin in the game
- Binary education (exams in which you pass / don't pass) in a world where value creation is nonlinear.
1/N
- Lack of skin in the game
- Binary education (exams in which you pass / don't pass) in a world where value creation is nonlinear.
1/N
2/
- Companies being allowed to extract profits before having built a redundancy reserve (eg cash to pay for 3 months of payroll)
- Institutional bankruptcy not being a thing (if an institution fail, all its executives go home and we start from scratch)
- Companies being allowed to extract profits before having built a redundancy reserve (eg cash to pay for 3 months of payroll)
- Institutional bankruptcy not being a thing (if an institution fail, all its executives go home and we start from scratch)
3/
- Binary medicine being a thing (either you have a condition or you don't)
- No application of the Precautionary Principle or ergodicity, expected value used instead.
- Papers judged on the operations performed in their paper not on their assumptions.
- Binary medicine being a thing (either you have a condition or you don't)
- No application of the Precautionary Principle or ergodicity, expected value used instead.
- Papers judged on the operations performed in their paper not on their assumptions.
4/ There are many other things in today's world which will be seen as dumb stupid, but these in the list above are those which I'm quite confident will be seen stupid *conditional to our civilization surviving another century in relative good shape*.
5/ Of course most of these points are discussed in Taleb's Antifragile / Skin In The Game, which I believe will become one of the most read authors, *conditional on civilization surviving*, which is the point of this thread: either we learn to manage risk appropriately, or 👋.
