#054 - The Bed of Procrustes: Nassim Taleb (Incerto Series)

rational vc

Learn from history's Greatest Minds — and find Timeless ideas you can apply to business and life. Every episode we explore a Lindy book: We strive to become polymaths like our investing and business icons, pulling the Big Ideas from a wide range of disciplines. For the curious-minded seeking Worldly Wisdom. Join 3,000+ others by subscribing @ rationalvc.com to get free access to essays and exclusive content.

For the video version of this episode click here.

A rare episode where we invited guests to join us, in this case due to the book being a unique format and also wrapping up our entire 5-episode Incerto Series. We discussed the application of the Incerto teachings in the real world, with two of the biggest Incerto practitioners we know.

Timestamps:

(00:00) Intro

(08:57) Our Favourite Aphorisms

(16:04) Special Guests Join & Their Intros

(17:59) Dangers of Monthly Salary

(24:25) Golden Handcuffs, Legacy vs. Lifestyle

(28:00) Our DNA as Hunter-Gatherers

(31:50) Learn Sales Before Technical Skills

(36:00) Practice Before Theory

(37:04) Conventional Education

(43:00) Convexity, Agency, & Mediocristan

(57:21) More Aphorisms

(1:00:19) Ergodicity, Rationality & Survival

(1:08:32) Venture Capital & Startups

(1:23:53) Asymmetry of Information, & Honour

(1:29:20) Bureaucracy

(1:34:05) Fat Tony

(1:43:11) Small Bets

(2:09:51) Via Negativa & Making Money Online

(2:18:19) Gathering Vs. Elicitation Mindset

(2:21:52) Incerto Practice in the Real World

(2:31:06) Closing Thoughts

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Our website (all essays and podcasts): rationalvc.com Our investment fund: rational.fund Cyrus' Twitter: x.com/CyrusYari Iman's Twitter: x.com/iman_olya

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Guests:

Daniel Vassallo's Twitter: x.com/dvassallo Seb Lees' Twitter: x.com/sebs_tweets Daniel's company: smallbets.com Seb's Podcast & Community: fattonys.net

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Disclaimer: The materials provided are solely for informational or entertainment purposes and do not constitute investment or legal advice. All opinions expressed by hosts and guests are solely their own opinions and do not reflect the opinion of their employer(s).

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