What’s beautiful about your UA-cam niche is that people will come back and rewatch these videos from time to time throughout their life. This is timeless content, which means a timeless income for you and may be later for your kids and grandkids. By the way, I rewatch these videos every once in a while. Amazing stuff
I have two groups of friends: one group are successful business people with no college degree and the other group are highly educated and intellectual. The first group is a lot more optimistic, energetic, and is more likely to get things done. The second group just complains a lot.
Amazing nuggets of knowledge and wisdom from deep and original thinkers! Thanks a lot for compiling, summarising and sharing. Such videos are worth watching and rewatching.
someone said it in another video by this guy. he's a master of making simple things sound complex. if you're actually listening to what this guy is saying it's nothing, he's not saying anything.
Wtf? This was very relatable and I never have had multiple people who show me this perspective. That explanation in the background was really good. I'm genuinely mind blown
@@PickingNuggets I highly recommend you to check for Howard Marks and Ray Dalio wisdom - I'm pretty sure you know these guys - both are great and everlasting like Buffett, Munger and Taleb
I am reminded of the riddle contest with the psychotic train in The Wastelands. The train loses because machines (at least in the story) don't understand absurdity.
I'm reading Think and grow rich by Napoleon Hill, whose mentor was Carnegie Hall and listen to Bob Procter etc and I feel like I found a current pearl in YOU! THANK YOU!
Interesting concepts. Reminds me of how a band song artist works on atunes - Ie experimenting /ad lib and playing around with ideas …and they come morph together in a finished song.
Tu acento está gritando que eres español =). Magnífico resumen, gracias. Estudiando las causas del éxito que enseñan Taleb y Ravikant te hace ver la vida más claramente y te hace pensar que no vale la pena discutir con quien te contradice, y aún peor, te contradice voluntariamente; Lo mejor es trabajar y trabajar y reiterar y reiterar ... ese es el camino, ese es el objetivo, ese es camino más corto. Incluso los académicos reiteran, si estás en primero de ingeniería NUNCA sabrás resolver un problema de la segunda ley de termodinámica, a la primera; tendrás que reiterar y reiterar y "pensear" hasta dar con esencia de la idea y entonces verás claramente. Al final queda entrenar para que la duración de reiteraciones quede lo más corta posible y eso se consigue reiterando y probando el máximo número de veces.
Can we consider Larry page as a counter example to your graph of convexity bias , he did only reach his page Ranking algorithm during his PhD , and there are many examples like these , so what's your point ?
the only entrepreneur i know of that hasn't failed is elon musk. and he does exactly what taleb says here about small failing. he's doing it again with twitter, small 'error's but huge upsides if they work. once again taleb is right.
I think he has failed in the shorter term so you’re right. Probably read this. But starting stuff ie business’s you’d realize this or keep learning all the time. That’s the only competitive advantage. Learning & experimentation
Nassim is one of my favorite intellectuals, but a project such as the atom bomb or the Saturn V rocket were not and could not be trial-and-error at the level they were operating (though certainly the preliminaries were)
The real job of an intellectual/academic is to systematize things that have been already done or discovered, and especially to no lie about the fact that these things were already there in working form before systemized. The only possible benefit of this is more ease for shared points of reference and education. The benefict cannot be innovation or shaping of society ...
Soviet style state planing is what the Chinese have in their success mix. All countries must plan for that and more but also be a flexible open intelligent entity. Corruption is another known but the egocentric, gains centered agents and systems ignore and use for differential and sometimes absolute advantage. We should be talking at a more dynamic depth, say the Desire dialectic (J. Lacan. S. Freud) at the center of all, and including the world destroyers. We are all part of this concave, fragile, Biological, Cultural system that has that origin as a barbaric axis that generates the destructive disharmony moving beyond our fortune and Goldie lux God given Earth. 1000 IQ points from a future AI and all the history books seems will be too late for this seudo sapient, not very lucid wake we leave behind. Bankers (long hand crooks) run our global fragility. I salute you from México.
There is no best procedure, as in science you can wait 100 years to see a progress. If you don't have the idea, then there is no progress. And there are no shortcuts. If there was, all of our problems would be solved. 2nd thought, this is true. Progress comes from trial and error.. i had no idea, and just tried everything..
Elon Musk is somewhat of a counter example to the tinkering approach. He poses the question of what services would be good for society to have, absent any considerations of achievability. Of course, his IQ and work ethic are so exceptional that he is then able to actually achieve his original vision.
No. Musk original plan for Paypal (PalmPilot) is different from what they end up with. His SpaceX rockets initially failed before getting NASA contracts. His Tesla cars have been recalled and updated multiple times to fix errors, even went bankrupt at 1 point. Don't forget his Hyperloop. We can even count his failed marriages as an example of how top-down approach fails.
but it is true. gates has a terrible image but when he was young he was a risk taker and "hacker", and his efforts produced massive wealth. so in that sense, this is a good example. but yeah, he could have said Ford, Cray, Wozniak, Musk, etc. etc. as well so i kind of agree with you.
GOod video but then you lost me with the tiresome Warren Buffett Charlie Munger stuff.. WHY are these guys revered so much its crazy, they have not innnovated or created anything.
SUMMARY: Successful businesses have often been not as a result of a deliberate plan based on legacy experience and expertise but because of simply trying various random things to find what worked, especially the fast and frugal approach where if you make a small error, you're not ruined. This is a way of 'tinkering'. The opposite to this is the institutionalized knowledge pushed by academia - top-down knowledge where you learn as much as you can about what worked in the PAST before you even go about applying it. The key to success is to focus on trying things in the present without looking into the future or without feeling like you need to learn an industry or UNDERSTAND a process, and the immediate results will tell you if you're on the right path or not. You may not understand WHY something works or not but if it works, it works and that's all you need to know. You can then discover a path to follow in real time and adapt to its changing currents and data as opposed to mapping out a 5-year rigid plan. Therefore an attachment to legacy information is not good for innovation and a simple man's willingness to experiment and embrace randomness and uncertainty IS a much better approach for innovation.
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What was with his comment on the IQ points it seemed very cryptic
Charlie Munger doensot do much tinkering, he only makes few investments and has patience for it.
What’s beautiful about your UA-cam niche is that people will come back and rewatch these videos from time to time throughout their life. This is timeless content, which means a timeless income for you and may be later for your kids and grandkids.
By the way, I rewatch these videos every once in a while. Amazing stuff
thank you so much for that insight!! And Im super happy you keep getting value from them :)
I have two groups of friends: one group are successful business people with no college degree and the other group are highly educated and intellectual. The first group is a lot more optimistic, energetic, and is more likely to get things done. The second group just complains a lot.
makes sense!
I don’t understand why this channel is not blowing up yet
Man keep em coming
You’ll go viral one day 🙌
Thanks for your kind words ❤️
I found him last week and it's like my eyes opened! Yet I need to change my paradigm! Oh dear not easy!!!
its the outdated graphics, creates an entry barrier
pump up the UI / UX skills and bam you are there
Quality material for sure. Thank you for taking the time to put these together.
yeah i agree, great channel, swims through the bullshit so we dont have too
#naval & #mrtaleb are really awesome. People like me form 98% of india never thought we could learn such a things. Thanks man. Thats real help.
glad you enjoyed it :)
Love the graph that Nassim showed, about the convexity bias.
Experience and Tinkering > Theory and Academic Knowledge
thank you!
Please always priorotise quality like this when you become bigger channel.
Let him tinker😂
This channel should be the biggest channel ever!!!!!!!
Amazing nuggets of knowledge and wisdom from deep and original thinkers! Thanks a lot for compiling, summarising and sharing. Such videos are worth watching and rewatching.
I appreciate that a lot !!
someone said it in another video by this guy. he's a master of making simple things sound complex. if you're actually listening to what this guy is saying it's nothing, he's not saying anything.
Incorrect. He is presenting truths/facts in a clear way so that it can be used strategically
Absolutely love ur channel man. Solid info condensed and quality/high-level stuff. Keep it up bro, ppl are no doubt getting immense value from this
Thanks for your kind words ❤
“One person has knowledge and the other person has.. convexity” 😮
exactly!
This information is invaluable. So contrary to much of the conventional advice we receive growing up. Thanks for this!
Glad it was helpful!
Been binging your content since I found your channel yesterday. Thank you so much for putting this together
Thank you Thinh !! :)
More of Nassim Taleb please, thank you
Wtf? This was very relatable and I never have had multiple people who show me this perspective.
That explanation in the background was really good.
I'm genuinely mind blown
Glad you enjoyed it :)
Thanks for the efforts you put 🙏🏼
thank you so much !
Easily my favourite channel on YT. Thanks for the summary.
thanks and welcome !!
Make PDFs of all of those notes and sell them as subscription
By far the best yt channel, keep doing great work as you do 😊
Greetings from Poland
Thank you so much ❣️
@@PickingNuggets I highly recommend you to check for Howard Marks and Ray Dalio wisdom - I'm pretty sure you know these guys - both are great and everlasting like Buffett, Munger and Taleb
learned an extremely important lesson today. Thank you
I am reminded of the riddle contest with the psychotic train in The Wastelands. The train loses because machines (at least in the story) don't understand absurdity.
This is awesome. I'd like to add, If you haven't yet passionately debated a theory's authenticity don't tinker just as yet.
I just discovered your channel yesterday and I’m so happy! Do you have podcast? If not, can you also make one?!
Thank you! I'm happy you like it. I plan to make podcast style videos every now and then in the channel :)
I'm reading Think and grow rich by Napoleon Hill, whose mentor was Carnegie Hall and listen to Bob Procter etc and I feel like I found a current pearl in YOU! THANK YOU!
Glad it helps Stacie :)
Hill and Proctor are both giant con-men. Proctor is especially involved in MLMs and stuff.
Interesting concepts. Reminds me of how a band song artist works on atunes - Ie experimenting /ad lib and playing around with ideas …and they come morph together in a finished song.
This is pure gold
thanks!
I love your channel, Thank you!
Thank Youu ❣️
This channel is sick. Just found it. Keep'em coming.
Thank you Rhys!
this is the school of life for me
The real people who know about this stuff are ARTISTS not CEOs or investors. Artists live this stuff
Taleb and Sowell are so underrated
Extremely well put informations. First time I understood some of NT stuff.
thank you so much !!
Rick: Only needed the first five seconds of the video.
Morty: The reason we have the rest of the show.
Keep on working bro, thanks for getting the nuggets for us.
Welcome !
This is crazy valuable, you’re the man!!
Thanks Juno :)
I love the discussion but the audio quality was off for me. Watch those levels in the editing mix.
thanks for the feedback! I will try to improve next time
I guess I'm fortunate....I only failed twice before I found something I was fairly good at! Great video!
Thank you Vincent !!
Tu acento está gritando que eres español =). Magnífico resumen, gracias. Estudiando las causas del éxito que enseñan Taleb y Ravikant te hace ver la vida más claramente y te hace pensar que no vale la pena discutir con quien te contradice, y aún peor, te contradice voluntariamente; Lo mejor es trabajar y trabajar y reiterar y reiterar ... ese es el camino, ese es el objetivo, ese es camino más corto. Incluso los académicos reiteran, si estás en primero de ingeniería NUNCA sabrás resolver un problema de la segunda ley de termodinámica, a la primera; tendrás que reiterar y reiterar y "pensear" hasta dar con esencia de la idea y entonces verás claramente.
Al final queda entrenar para que la duración de reiteraciones quede lo más corta posible y eso se consigue reiterando y probando el máximo número de veces.
Muchas gracias por el comentario! Muy de acuerdo con lo que dices. Efectivamente soy de España jajaj
Thanks. I love what you do.
thank you !!
Can we consider Larry page as a counter example to your graph of convexity bias , he did only reach his page Ranking algorithm during his PhD , and there are many examples like these , so what's your point ?
Please cover Joscha Bach, you will be able to get so many nuggets from hum.
thanks! will take a look :)
5:15 education inhibits risk taking
the only entrepreneur i know of that hasn't failed is elon musk. and he does exactly what taleb says here about small failing. he's doing it again with twitter, small 'error's but huge upsides if they work.
once again taleb is right.
I think he has failed in the shorter term so you’re right. Probably read this. But starting stuff ie business’s you’d realize this or keep learning all the time. That’s the only competitive advantage. Learning & experimentation
As you start to walk on the way, the way appears - Rumi
Edison was also a tinkerer
the biggest
You (admin) are pretty smart and concious.
Thanks for the kind words ❤
Amazing videos my friend
Thank you !!
Great content!
Hey! thank you :)
Always great
Keep it up big brother
Thank You !! ❤
Can you make the outro of subscription shorter
thanks for the feedback!
Anyone knows a book in which these points are detailed more with examples ,theory more explanation etc ?
Antifragile
@@petal9547 Thanks
@@petal9547 Thank you.
Nassim is one of my favorite intellectuals, but a project such as the atom bomb or the Saturn V rocket were not and could not be trial-and-error at the level they were operating (though certainly the preliminaries were)
Yes, he added that trial and error is only useful when the downside potential is small
I must have overlooked that, thanks for pointing it out!
Why don’t you upload on spotify?
Can someone explain iterations in simpler terms
Repetition of a process (mathematical, computational, physical etc)
The real job of an intellectual/academic is to systematize things that have been already done or discovered, and especially to no lie about the fact that these things were already there in working form before systemized. The only possible benefit of this is more ease for shared points of reference and education. The benefict cannot be innovation or shaping of society ...
Wow..very good
thanks!!
Great content
graph name...
Thanks good litte nudgeet
Does anyone know who’s speaking at 13:33?
That’s Ben Thompson :)
@@PickingNuggets thank you
This is the format i love. No fancy shits. Straight to the a**hole! Muah love you
Fascinating key message.
Just too bad these millionaires can’t afford a decent microphone.
Methodologies :
Trial and Error
No one knows what they are doing but learn from others that succeeded before them. That’s the key 😅. Only one was Jesus.
U r fkn legend dude keep uploading 🚿
Thank you Umang!
Soviet style state planing is what the Chinese have in their success mix. All countries must plan for that and more but also be a flexible open intelligent entity. Corruption is another known but the egocentric, gains centered agents and systems ignore and use for differential and sometimes absolute advantage. We should be talking at a more dynamic depth, say the Desire dialectic (J. Lacan. S. Freud) at the center of all, and including the world destroyers. We are all part of this concave, fragile, Biological, Cultural system that has that origin as a barbaric axis that generates the destructive disharmony moving beyond our fortune and Goldie lux God given Earth. 1000 IQ points from a future AI and all the history books seems will be too late for this seudo sapient, not very lucid wake we leave behind. Bankers (long hand crooks) run our global fragility. I salute you from México.
Please learn to normalize audio, the streams are very different
thanks for the feedback!
@@PickingNuggets Actually I love a bit of variability. Keeps me alert and brings back full focus for every new nugget.
There is no best procedure, as in science you can wait 100 years to see a progress. If you don't have the idea, then there is no progress. And there are no shortcuts. If there was, all of our problems would be solved.
2nd thought, this is true. Progress comes from trial and error.. i had no idea, and just tried everything..
Tinkering is a good word.
It’s the stuff we tinker
Tl;DR: tinkering beats theorical knowledge...by a lot
nuclear trial and error would've been interesting
Elon Musk is somewhat of a counter example to the tinkering approach. He poses the question of what services would be good for society to have, absent any considerations of achievability. Of course, his IQ and work ethic are so exceptional that he is then able to actually achieve his original vision.
No. Musk original plan for Paypal (PalmPilot) is different from what they end up with. His SpaceX rockets initially failed before getting NASA contracts. His Tesla cars have been recalled and updated multiple times to fix errors, even went bankrupt at 1 point. Don't forget his Hyperloop. We can even count his failed marriages as an example of how top-down approach fails.
Taleb's books are much more intelligible than are his lectures.
Gates? What a terrible example to use..
but it is true. gates has a terrible image but when he was young he was a risk taker and "hacker", and his efforts produced massive wealth. so in that sense, this is a good example. but yeah, he could have said Ford, Cray, Wozniak, Musk, etc. etc. as well so i kind of agree with you.
GOod video but then you lost me with the tiresome Warren Buffett Charlie Munger stuff.. WHY are these guys revered so much its crazy, they have not innnovated or created anything.
True. But they have succeeded in a game (stocks) where randomness and chance can easily overwhelm you.
math freak Taleb appears to confuse himself a math genius!
Sapiens and his author are really not good.
SUMMARY:
Successful businesses have often been not as a result of a deliberate plan based on legacy experience and expertise but because of simply trying various random things to find what worked, especially the fast and frugal approach where if you make a small error, you're not ruined. This is a way of 'tinkering'. The opposite to this is the institutionalized knowledge pushed by academia - top-down knowledge where you learn as much as you can about what worked in the PAST before you even go about applying it. The key to success is to focus on trying things in the present without looking into the future or without feeling like you need to learn an industry or UNDERSTAND a process, and the immediate results will tell you if you're on the right path or not. You may not understand WHY something works or not but if it works, it works and that's all you need to know. You can then discover a path to follow in real time and adapt to its changing currents and data as opposed to mapping out a 5-year rigid plan. Therefore an attachment to legacy information is not good for innovation and a simple man's willingness to experiment and embrace randomness and uncertainty IS a much better approach for innovation.
Too bad nassim can barely speak English
Too bad you are deaf.