We tend to treat our knowledge as personal property to be protected and defended. It is an ornament that allows us to rise in the pecking order. [...] We take what we know a little too seriously.
Nassim Nicholas TalebThere are systems that use failure as fuel for improvement, where the cost of failure is small.
Nassim Nicholas TalebPrivate equity has absolutely no reason to exist. The private equity holder has all the upside and the banks all the downside.
Nassim Nicholas Taleb