When you take high risks, the rewards are higher. So sometimes I'll gamble just to see what happens. If it doesn't work, I know I can't do that.
Doubts are suppressed by groups... But remember that the internal incentives that shape how the group perceives risks and rewards may be very different from the reality of the risks and rewards in the external marketplace. Those incentives can distort risk perception.
There are some risks we choose to take because the benefits from taking them exceed the possible costs. Optimal behavior takes risks that are worthwhile. This is the central paradigm of finance: we must take risks to achieve rewards, but not all risks are equally rewarded.
Rich people see opportunities. Poor people see obstacles. Rich people see potential growth. Poor people see potential loss. Rich people focus on rewards. Poor focus on the risks.
Many businesses fail because the owner wasn't willing to invest and wasn't educated on the difference between spending money frivolously and investing money into the business for growth, and the risks and rewards of that cash infusion.
Philosophers talk about truth and falsehood. People in life talk about payoff, exposure, and consequences (risks and rewards), hence fragility and antifragility. And sometimes philosophers and thinkers and those who study conflate Truth with risks and rewards.
I could see jealousy coming up, I could see anger, I could see frustration. I could see people's agendas. I could see my kids going wild - because we never had any money, and suddenly, we had money.
The US will increasingly see the risks of being left behind, and ten years from now they would have to start worrying about being shut out of markets because their production is dirty.
When children see Michael Jackson they see a human being. When adults see him they see money.
I am not really inclined to think there is any very effective regulation of the derivative securities markets that would be useful. People who go into it essentially ought to know what risks they're taking and I don't see any useful regulation.
One doesn't accept bad challenges. Part of it is always the risk-taking without seeing that the risks are rational and the rewards are commensurate.. are more than commensurate.. with the risks.
I want to see businesses identifying where the highest risks of modern slavery are in their business and supply chains and take targeted steps to address those risks.
I think it's a competitive advantage that both Amazon and Google and other tech companies have over a lot of their counterparts. They take big risks and are pioneering new markets with the promise of big rewards. It's why Amazon is kind of reliably starting new businesses and opening kind of new frontiers.
I see money as a reflection of how much impact you're having on the world. I see money as a metaphor in a way.
I see nothing that points to a recession in Germany. But I see considerable long-term tasks ahead of us that have to do with markets regaining confidence in Europe and that have a lot to do with reducing debt.
I think the risks that people see of terrorism are incredibly important but we are very confident we have got the right people on it and the risks have been minimised.