There are systems that use failure as fuel for improvement, where the cost of failure is small.
Nassim Nicholas TalebBanks have never made money in the history of banking, losing the equivalent of all their past profits periodically - while bankers strike it rich.
Nassim Nicholas TalebWhat is nonmeasurable and nonpredictable will remain nonmeasurable and nonpredictable ... no matter how much hate mail I get.
Nassim Nicholas TalebThe narrative fallacy addresses our limited ability to look at sequences of facts without weaving an explanation into them, or, equivalently, forcing a logical link, an arrow of relationship, upon them. Explanations bind facts together. They make them all the more easily remembered; they help them make more sense. Where this propensity can go wrong is when it increases our impression of understanding.
Nassim Nicholas Taleb