Strategy · Applied
Optionality & Asymmetric Bets
Arrange your bets so the downside is capped and the upside is open: convex payoffs, Thales and the olive presses, Taleb's barbell, real options in business and careers, and the math of many small bets.
Step 1 of 6 · Overview30 min read ·
Key idea
Prereqs: Expected value; Options basics. Next: Reflexivity & narratives. Sources: Nassim Taleb, *Antifragile* (2012); Aristotle, *Politics* (Thales story); real-options literature (Dixit & Pindyck).Next: 1. The idea