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Antifragile

by Nassim Nicholas Taleb

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Indexed Notes by Topic

Domain Dependence

Example:

  1. Those that understand bacterial resistance and strengthening in biology, but fail to understand that revolutions feed on repression, that people are strengthened and hardened by being repressed.

Insights:

  1. Many people can understand concepts and ideas in one domain and fail to understand or recognize it in another (biology and finance for example).
  2. Humans often fail to recognize situations outside of the context with which they learn about them.
  3. The failure to translate wisdom or ideas across contexts can lead to fragility in the usefulness of those ideas.
  4. Due to domain dependence, we often forget that the knowledge or information we have about things may not translate into other real-world situations.

Halo Effect

Insights:

  1. We often make the mistake of thinking that skills observed in one domain are transferable in other fields or areas of life.
  2. It is not prudent to believe that skills in talking equate to skills in doing, it is therefore unfair and wrong to measure people by how good they are at talking.

Example:

  1. Believing that a good chess player would be good at strategy in real life.

Path Dependence

Insights:

  1. When things break there is an irreversibility of damage. Fragility arises from path dependence - taking actions to prevent fragility become irrelevant after something is broken - to be preventative they must be done before things break.
  2. People in business often miss the logical precedence of sustainability (survival) over success (profits).
  3. Efficiency by itself is meaningless.