12 korrents from this recording
Every claim below is a statement made in this recording, quoted word for word and linked to the second it was said, so you can hear it rather than take our word for it. The wording comes from the transcript published alongside the recording; the sentence above each quote is our reading of the claim, not their wording.
0:02:10 · watch on youtube.com↗
Their wordseverything happens over and over again all right everything um I we think of this as everything's another one of those so by being able to look at history and make the connections and examine how the mechanics of the cause effect relationships are that's what we spend a lot out of time doing and then we convert those rules those principles into algorithms
0:12:18 · watch on youtube.com↗
Their wordsI went from thinking you know I'm right to asking myself how do I know I'm right in other words how do I triangulate it gave me the humility I needed to balance with my audacity and so then it gave me an open-mindedness
0:13:22 · watch on youtube.com↗
Their wordsI think the greatest tragedy of mankind and the greatest tragedy of most people is to hold opinions in their head that are wrong that they're attached to and that they don't stress test it's so easy to take those ideas and properly put them out there in an idea meritocratic way and have them stress tests which raises the probabilities of being right
0:13:52 · watch on youtube.com↗
Our reading
Risk can be reduced without reducing returns by structuring bets in a more diversified way.
Their wordsI learned how to balance risks better right so I learned that if um how I could reduce my risks without reducing my returns by being able to literally structure my bets in a more Diversified way
0:14:17 · watch on youtube.com↗
Their wordswhenever I was surprised and I think whenever most people it's surprised it's because of something that never happened in their lifetime before but it happened before so it doesn't happen in their context but it happens so you don't see it so you don't think about it
0:15:52 · watch on youtube.com↗
Their wordsI developed an exercise that I would write down my criteria for making those decisions so that would be my principles
0:19:21 · watch on youtube.com↗
Our reading
Success takes two things: knowing what the best decisions are and having the courage to do them.
Their wordsthe only two things you need to do to be successful first you have to know what the best decisions are and second you have to have the courage to do them
0:19:50 · watch on youtube.com↗
Their wordsthoughtful disagreement is not an easy thing for a lot of people people are instinctually reluctant to disagree that's a great barrier right to learning
0:21:29 · watch on youtube.com↗
Their wordsDemocratic decision making and that means everybody has the same votes the same opinion that's not sensible because they have different merits to that so if you have an idea meritocracy you have to know also the Merit of people's thinking
0:28:09 · watch on youtube.com↗
Their wordsdescribe it as the balance of assertiveness and open-mindedness to know that you're not blindly following then you have an opinion you have an independent thing and to know that that opinion simultaneously could be wrong and to then be curious
0:36:15 · watch on youtube.com↗
Their wordsmaking a mistake is not a problem that um not learning from mistakes is a problem
0:39:43 · watch on youtube.com↗
Our reading
Their wordsan expression pain plus reflection equals progress