Philosophers talk about truth and falsehood. People in life talk about payoff, exposure, and consequences (risks and rewards), hence fragility and antifragility. And sometimes philosophers and thinkers and those who study conflate Truth with risks and rewards.

There are systems that use failure as fuel for improvement, where the cost of failure is small.

The rationalist imagines an imbecile-free society; the empiricist and imbecile-proof one, or even better, a rationalist-proof one.

Scientists don't know what they are talking about when they talk about religion. Religion has nothing to do with belief, and I don't believe it has any negative impact on people's lives outside of intolerance. Why do I go to church? It's like asking, why did you marry that woman? You make up reasons, but it's probably just smell. I love the smell of candles. It's an aesthetic thing.

You need a story to displace a story.

Banking is a very treacherous business because you don't realize it is risky until it is too late. It is like calm waters that deliver huge storms.

I always remind myself that what one observes is at best a combination of variance and returns, not just returns.