A Quote by Reid Hoffman
People who take risk intelligently can usually actually make a lot more progress than people who don't.
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And people who take risk intelligently can usually actually make a lot more progress than people who don't.
Risk managers and investment bankers and actually, all kinds of investors took on more risk than they expected. So there was a failure of risk management. There was a failure to recognize how much risk there was in some of these securities that people bought.
People tend to think that life really does progress for everyone eventually, that people progress, but actually only some people progress. The rest of the people don't.
I think people in general don't take enough risks. Some people feel that before they can take on that next challenge they need to be 100 percent ready. It's just not true. Even people in their jobs aren't perfect at their jobs. So my biggest advice to people is to step out there. Take the risk and deal with it. What is the worst that could happen? It's about thriving on risk instead of shrinking from risk.
In terms of getting people to experiment more and take more risk, there are at least three things that immediately come to my mind. Number one, of course, is role-modeling it yourself. Number two is when people take intelligent, smart risks and yet it doesn't work out, not shooting them. And number three, being honest with yourself. If the culture you have is radically different from an experiment and take-risk culture, then you have a big change you going to have to make—and no little gimmicks are going to do it for you.
It's actually a relatively small number of people that really are those risk takers, and a relatively small number of people that end up really having an impact on the world, and it doesn't take a lot of people. We said, 'Well, rather than just sit by and wait, or fold our tent and go do something else, let's keep at it. Maybe we can be the ones who can figure this out,' and eventually we were.
If for you the most important thing is to make a lot of money, then you don't want to take a certain type of risk. If, on another hand, the most important thing to you is to make people around you have a more fulfilled life, then there is a different set of things that are important to you. Unless you really know that about yourself, you will never be able to appropriately assess risk.
I think that if you take a risk, you inspire people, and ultimately, inspiring people is more important than winning.
I think for a lot of people, the financial barrier is the biggest leap you have to take to follow your dreams. A lot of people don't want to stick their necks out and take that risk, which is totally understandable - I think for a lot of people it doesn't happen because it's not a necessity. Unless it's a necessity to do this, it can be a pretty scary process.
It takes courage to care for others, because people who care run the risk of being hurt. It's not easy to let your guard down, open your heart, react with sympathy or compassion or indignation or enthusiasm when usually it's much easier-and sometimes much safer-not to get involved. People who take the risk make a tremendous discovery: The more things you care about, and the more intensely you care, the more alive you are.
Managing risk is a key variable, frankly, all aspects of life, business is just one of them, and one of the things that most people do in terms of managing risk, that's actually bad thinking, is they think they can manage risk to zero. Everything has some risk to it. You know, you drive your car down the street, a drunk driver may hit you. So what you're doing is you're actually trying to get to an acceptable level of risk.
A lot of people like structure, so there's definitely a risk with being an artist that a lot of people aren't really willing to take.
I think one lesson we have to learn is that there's a lot more risk than we're giving credit to, a lot more what economist calls systematic risk.
I think for a lot of people, the financial barrier is the biggest leap (that) you have to take. A lot of people don't want to stick their necks out and take that risk which is totally understandable. Until you are ready to totally bet on yourself and put all of your chips on the table, it doesn't happen.
A lot of these people are Iraqis fighting for control of their own government. Maybe there's an argument to make that outside forces that go in and start bombing that country or invading that country are actually terrorists more so than the people in the country.
People don't want to believe that technology is broken. Pharmaceuticals, robotics, artificial intelligence, nanotechnology - all these areas where the progress has been a lot more limited than people think. And the question is why.
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