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Image of the quote is loading... SaveSave Probability and expectation are not the same. Its probability and probability times the pay off. - Quote by Nassim Nicholas Taleb

Probability and expectation are not the same. Its probability and probability times the pay off.

Nassim Nicholas Taleb
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To bankrupt a fool, give him information.
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. . . the world in which we live has an increasing number of feedback loops, causing events to be the cause of more events (say, people buy a book because other people bought it), thus generating snowballs and arbitrary and unpredictable planet-wide winner-take-all effects.
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Luck is the grand equalizer.
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Doctors most commonly get mixed up between absence of evidence and evidence of abense
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Most info-Web-media-newspaper types have a hard time swallowing the idea that knowledge is reached (mostly) by removing junk from peoples heads
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If you want to annoy a poet, explain his poetry.
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Know how to rank your beliefs not according to their plausibility but by the harm they may cause.
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The difference between technology and slavery is that slaves are fully aware that they are not free
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