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PDF Editor FAQ
What does Nassim Taleb mean by "life is long gamma"?
Gamma, as Taleb uses it, is a concept which describes how a linear change in an input can have an exponential change on the output.For example, if you run a red light at 30 miles per hour and hit a car, you’ll have an insurance claim. Running the same red light at 50 miles per hour sends you to the hospital, plus the insurance claim. Even though your speed increased linearly (the input), the outcome became exponentially more severe.Being “long,” in finance, means you get the benefit of owning something. So, by saying “life is long gamma,” Taleb is saying that the universe tends to orient toward exponential outcomes from linear inputs. Life, on average, tends to benefit from gamma, even if people, individually, do not.The concept here is to position yourself to gain from the rare, but unexpected events in life. While these rare and unexpected events may upset the system as a whole (that is, the system is “short gamma”), you can position yourself to personally benefit from them. A concept Taleb calls “antiFragile.”More stress and change yields more benefit to you.
Is a (bulletproof) home defense shield effective or helpful against armed intruders?
Is a (bulletproof) home defense shield effective or helpful against armed intruders?It can be effective if you know how to use it and you have a means to shoot back. If you can’t back that shield up with firepower of your own, then you’re still just a target. Defense is a losing game. To be effective, use that defensive capability to improve your offense.To do that, you need to train with it. Just like owning a firearm that you don’t know how to use isn’t enough, it’s not enough to just own a shield and then pick it up when it’s time to use it. You need to learn how to shoot with one hand while shielding yourself with the other. You need to know how to position yourself to maximize the shield’s benefit. You need to be able to store it so it’s out of the way of your normal daily routine but readily accessible in an emergency. You need to practice moving through the house while presenting it.There are also many different ballistic shields out there. You need the one with the weight, design, level of protection, and cost that works for you.Chances are you don’t need something with its own stand and wheels.But if you do it right, can it be helpful? Sure. You just gave yourself a piece of real protection that can be grabbed quickly in the event of an emergency.
How do I financially support myself without having a job?
Master a skill that is in-demand and highly valuable to businesses or affluent clients.Sell yourself as a freelancer.Be so good at what you do, that people can’t resist telling others about you.Know how to persuade and present yourself and position yourself as the expert in a unique niche.You will be able to charge high fees without an eye-lash.I know a photogrpaher, who snaps very artful and unique pictures.But being a masterful photographer ISN’T what makes this guy earn 6-figures with 4 hours of work per day.There’s many photographers who’re just as good as him…at photography.But my friend is also a master in a more important field….This guy is very, very skilled at persuasive communication and selling himself effectively and without much buyer resistance.He’s completely booked out for the next year, while charging $6,000 for his basic photography package!Ironically, his $6k basic package, is almost the exact same service that all the mediocre photographers charge only $400 for.Whaaat?How can that be?Well, the average “photo guys”, have absolutely no clue how to position themselves, or how to persuade and sell or how to make price almost irrelevant.They are thus viewed as commodities in a crowded market.They’re selling “photographs”.We often joke, that he’s in the “immortatality business” instead of simply “taking pictures.”And he doesn’t just sell photographs. He sells a legacy told in pictures.He skillfully plays to his rich clients ego and constructs a compelling narrative around the pictures, that raise his customers status.And at this point…He doesn’t even run ads.His business is 100% referral based.Now…How does this help you?If you’ve been paying close attention, you’ve just been handed a blueprint.Develop a skill to mastery level.And….learn to present and position yourself, so that you attract affluent people or business to pay you for your services in which you utilize your skill.Financial independence without a traditional job.You can start building you skill right now…Or do you want to waste another hour watching NetFlix instead of building your future?
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