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While in theory randomness is an intrinsic property, in practice, randomness is incomplete information.

Nassim Nicholas Taleb

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Nassim Nicholas Taleb
Age: 64
Born: 1960
Born: September 11
Author
Economist
Essayist
Mathematician
Philosopher
Statistician
University Teacher
Writer
Nassim Nicholas Najib Taleb
Nassim Taleb
Incomplete
Property
Theory
Information
Practice
Randomness
Intrinsic

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Failure saves lives. In the airline industry, every time a plane crashes the probability of the next crash is lowered by that. The Titanic saved lives because we're building bigger and bigger ships. So these people died, but we have effectively improved the safety of the system, and nothing failed in vain.
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Steve Jobs, Bill Gates and Mark Zuckerberg didn't finish college. Too much emphasis is placed on formal education - I told my children not to worry about their grades but to enjoy learning.
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I'm a capitalist but one who is smallist and localist, and who favours businesses where owners are still in charge.
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An erudite is someone who displays less than he knows a journalist or consultant the opposite.
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Writing is the art of repeating oneself without anyone noticing.
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When some systems are stuck in a dangerous impasse, randomness and only randomness can unlock them and set them free.
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The number of managers with great track records in a given market depends far more on the number of people who started in the investment business (in place of going to dental school), rather than on their ability to produce profits.
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If you're going to fail, you'd rather fail early than fail late in general.
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But they never notice the following inconsistency: this so-called worst-case event, when it happened, exceeded the worst case at the time.
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Poverty is clearly one source of emotional suffering, but there are others, like loneliness.
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The fragile wants tranquility, the antifragile grows from disorder, and the robust doesn't care too much.
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Never ask anyone for their opinion, forecast, or recommendation. Just ask them what they have—or don’t have—in their portfolio.
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It does not matter how frequently something succeeds if failure is too costly to bear.
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We should ban banks from risk-taking because society is going to pay the price.
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It was obvious that their profits were simply cash borrowed from destiny with some random payback time.
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Education makes the wise slightly wiser, but it makes the fool vastly more dangerous.
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Don't cross a river if it is four feet deep on average.
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Capitalism is about adventurers who get harmed by their mistakes, not people who harm others with their mistakes.
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true humility is when you can surprise yourself more than others the rest is either shyness or good marketing
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As countries get rich they start increasing education and the very educated people tend to not like trial and error, because they think they're obligated to use the body of knowledge they have.
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