Chapter 1: What is the relationship between curiosity and risk?
Something that I've thought a lot about is relating to the word risk. You know, so many of us in this room have heralded ourselves as being like the most risk tolerant group of people in the whole galaxy, which, you know, but something happens where we get comfortable with a certain way of doing things. And then you realize there's no longer any risk because you understand that model.
And then we get what the new risk is doing something different. And there's some of us here that sometimes struggle with risk, even though we think we're risk tolerant. We actually struggle taking new risks because we've gotten comfortable by doing things a certain way. And risk has a lot to do with how you perceive it.
You know, one person's perception of risky is another person's perception of certainty. And so I think a lot of what I've been personally going through is understanding what truly is risky here. Is it risky to keep doing business the same way? It's comfortable. We know what we're doing. We know we can actually make a profit and float around the same amount of revenue.
And maybe we can even push the boundaries and grow a little bit at a time. What's far the perceived risk of doing something drastically different is much higher in our minds.
But when you actually look at that risk, it actually may be a lot lower to try to do something different. It's all about how you perceive change and what you have to look at to do that. So the analogy I'd end with is this, like it's like driving a car. over the last handful of years where one of the wheels is a little bit out of alignment.
Have any of you guys had like an old car that had an alignment problem before?
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Chapter 2: How do perceptions of risk affect decision-making?
What happens to the car when the wheel's out?
It like vibrates, right? So we're, you know, you just keep dealing with some of these changes. You keep going in and looking at a set of data and having a conversation. You still, you feel the car vibrating. And it's because three wheels are in alignment, but there's like one little wheel you got to click into place. And sometimes the vibration gets a little worse before it gets better.
But that's where we are right now. You know, insatiable curiosity is a superpower. It really is. And one of the reasons I think insatiable curiosity is a superpower is because it's an impact on risk. And when you think about how old you were when the first time you stepped onto an airplane, right? Many of you might have been a teenager, maybe even younger. Some of you guys, maybe it was college.
Some of you guys may not have gotten one yet.
Chapter 3: What role does comfort play in risk tolerance?
And I came across a lady that was in that situation. She was about 65 years old, and she'd never stepped foot, and she was getting on her plane for the first time, and she was, like, reeled. She was sweating bullets, you know. And, you know, you're going, like, this has been going on for a long time. You have more risk of getting struck by lightning than anything happening on this flight.
It's going to be just fine. But, again, it is a perception of risk. And curiosity helps you change your relationship with risk in general because the more curious you are, the more you learn. The more you learn and understand about the world, generally, the less you feel most actions have innate risk in them, right?
That what one person considers to be just terrifying, the reality is that the failure rate's not near what you think it might be. By coaching people in all these different industries, it's just an amazing opportunity to learn from them and how the world works. So- And satiable curiosity, I think, has been a big thing to tolerate risk and to help through some of this change.
And that's about learning from your peers.