January 02, 2020
The whole thing is worth a read, but three ideas I found particularly interesting:
The takeaway is that power is transitory. It shifts when those who don’t ahve it get so fed up that they bond together to gain enough influence ot take it back. Never underestimate the power of a unified group of powerless people with a shared goal.
But when fundamental, unshakable views that used to be contained within tribes expose themselves to different tribes, people become shocked to learn that what’s sacred to them isn’t always a universal truth.
The world is driven by tail events. A minority of things drive the majority of outcomes. It’s one of the most important concepts in investing, where a few positions may account for most of your lifetime returns.
Thanks for reading! My name's Stephen Weiss. I live in Chicago with my wife, Kate, and dog, Finn.
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