RE: Bitesized Lessons in Antifragility #1: Importance of Decentralization
Interesting subject.
"A key consideration of antifragility is loss vs. ruin. You want to make small bets so that you don't lose everything you own. You want to AVOID the possibility of losing everything at once. " - What you are describing here seems to be resilience. In order to make it antifragile, as Taleb did, you have to not merely resist(which is indeed critical), but gain from disorder.
A good example would be Taleb's bet from 2007-2008 that the economy would fall and a serious economic crisis would emerge. As the downturn begun, he not only escaped the situation of ruin, but made a fortune when the economy was at its worst and most people suffered their biggest losses, because his position was designed to gain the most when chaos and disorder kicked in.
Anyway, keep up the posts, @xtester.
Thanks, great example.
And yes, you're right. That's not the definition of antifragility. I just wanted to point out the importance of resilience for now. Next post, I will probably give a proper introduction to antifragility and black swan with actual quotes from the books.
If this takes off, would you be willing to guest post in this series?