Antifragile is the opposite of fragile. It goes beyond resilience or robustness. It denotes things that gain from disorder, chaos and stressors. Nassim teaches us how to become more antifragile.
- Learn to become immune to misfortune – think Stoicism.
- Create risk asymmetry. Be exposed to more upside than downside. Or don’t be exposed to downside.
- Optionality makes you antifragile.
- Don’t get on a plane without a pilot. For any venture, the person influencing you must have skin in the game.
- Have a copilot. Have redundancy, remove asymmetries in your sensitivity to risk (or bias them in your favor).
- Kirtika does a good job summarising the key principles of Taleb’s book.
- Suffers from volatility, have more to lose than gain
- Mistakes rare and large
- Fragile things are typically large, over optimised, and require an external response to protect it
- Stays the same in volatility, neither gain or lose
- Indifferent to change or tranquility
- In adversity, you bounce back to the state you were in before the fall
- Grows from volatility, have more to gain than lose
- Seeks disorder and uncertainty
- Mistakes small and benign
- Seek to be small, agile and flexible
- Have built-in redundancies (inefficiencies) in order to thrive in randomness.
- Trying to eliminate randomness and variability is a loser’s game.
Uneasy lies the head that wears the crown
Randomness is the rule, not the exception.
- Build Redundancies – Redundancy is ambiguous because it seems like a waste if nothing unusual happens. Except that something unusual happens – usually.
- The chief ethical rule of antifragility: Thou shalt not have antifragility at the expense of the fragility of others.
- Heuristics are simple rules of thumb that make things simple and easy to implement.
- Antifragility benefits from and fragility is penalised by: uncertainty, variability, imperfect, incomplete knowledge, chance, chaos, volatility, disorder, entropy, time, the unknown, randomness, turmoil, stressor, error, dispersion of outcomes, unknowledge.
- A man is morally free when…he judges the world, and judges other men, with uncompromising sincerity.
- Depriving systems of stressors (hunger, exercise), vital stressors, is not necessarily a good thing, and can be downright harmful.
- Those who dress in suits and ties are fragile to information about them.
- Those from whom we have benefited the most aren’t those who have tried to help us (say with ‘advice’) but rather those who have actively tried – but eventually failed – to harm us.
- Acute rather than chronic stressors, followed by ample time for recovery, allows the stressors to do their jobs as messengers.