Nassim Nicholas Taleb

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72 appearances 2 recordings 1 series first heard Dec 2012 last heard Dec 2012

Nassim Nicholas Taleb’s voice in public audio — every appearance, attributed to the second.

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More or Less · The Census and what does 'rare' mean? · 14 Dec 2012 podcast

And let me define fragility.

Basically, fragile is what doesn't like volatility.

If you have a glass on a table, if the glass is fragile, if there's an earthquake, it's going to be harmed.

It's not going to benefit from it.

So it's like a package on which is written, please handle scare.

That's a fragile.

Now, the anti-fragile is a package on which you'd write, please mishandle.

Yeah.

By definition, an antifragile system has to use errors as fuel.

And unfortunately, when you have a system, the components of the system may suffer.

So let's take air travel, okay?

A plane crashes.

70 persons die.

Extremely sad.

But now you know that air travel will save more lives in the future because we're never going to let that error go to waste.

You see, so the probability of the next plane crashing has dropped.

So failures cannot be predicted, but you want to make sure that, unlike the airline crashing, the probability of the next crash...

is not higher.

And unfortunately, when a bank fails, the next bank is more likely to fail.

Yeah.

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