11 Quotes
"1. Finite time, which is within our control and the realm of near-term planning, and"
— The Knowledge
The Fine Balance between Short-Term & Long-Term Planning"2. Infinite time, which encompasses externalities and events that are out of our control."
— The Knowledge
The Fine Balance between Short-Term & Long-Term Planning"The infinite monkey theorem demonstrates the potential power of infinite time – if a group of monkeys were to type randomly on a keyboard for an eternity, they would eventually produce the complete works of Shakespeare."
— The Knowledge
The Fine Balance between Short-Term & Long-Term Planning"""If you live long enough, you will get cancer.”"
— The Knowledge
The Fine Balance between Short-Term & Long-Term Planning"On a long enough time horizon, possibility, probability, and predictability gradually converge."
— The Knowledge
The Fine Balance between Short-Term & Long-Term Planning"One way to do this is to arbitrage finite time and prioritise development based on how quickly we can become ""dangerous"" in our chosen fields."
— The Knowledge
The Fine Balance between Short-Term & Long-Term Planning"The barbell approach to risk management, proposed by economist and philosopher Nassim Nicholas Taleb, involves taking on two extreme positions – one with a low level of risk and one with a high level of risk – rather than a moderate position with a medium level of risk."
— The Knowledge
The Fine Balance between Short-Term & Long-Term Planning"You must strike a balance between short-term planning and long-term optionality."
— The Knowledge
The Fine Balance between Short-Term & Long-Term Planning"In the near term, focus on offence and optimise for finite time."
— The Knowledge
The Fine Balance between Short-Term & Long-Term Planning"In the long term, be on defence, leveraging infinite time to prepare for the unknown."
— The Knowledge
The Fine Balance between Short-Term & Long-Term Planning"By taking on a small amount of extreme risk, you can maximise your potential for gain and minimise the potential for loss."
— The Knowledge
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