Julio's Almanack

Source material - https://www.littlealmanack.com/p/the-psychology-of-money-summaryNarrated using AI-generated voices (Liam and Victoria) from ElevenLabs.🎧 Get a 20% discount on BeFreed by signing up with my link - https://www.befreed.ai/?ref=LittleAlmanack (and start learning from 10K+ podcast-style audio lessons based on books)💌 My weekly newsletter where I share a timeless idea every Friday - https://www.littlealmanack.com/DISCLAIMERLinks included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you!

🎧 Get a 20% discount on BeFreed by signing up with my link - https://www.befreed.ai/?ref=LittleAlmanack(and start learning from 10K+ podcast-style audio lessons based on books)💌 My weekly newsletter where I share a timeless idea every Friday - https://www.littlealmanack.com/-------------------------CHAPTERS0:00 - Introduction8:10 - Idea #1: Measure Fragility, Not Risk11:47 - Idea #2: Please Behead Me17:27 - Idea #3: Adopt a Mindset of Necessity20:00 - Idea #4: Overcompensation23:30 - Idea #5: Touristification30:51 - Idea #6: Antifragile at the Expense of Others37:09 - Idea #7: Pseudo-Stabilization42:10 - Idea #8: Naive Interventionism and Iatrogenics47:31 - Idea #9: Always Have Redundancies51:09 - Idea #10: The Barbell55:11 - Idea #11: The Green Lumber Fallacy58:46 - Idea #12: The Survival of Ideas1:00:35 - Idea #13: Lecturing Birds How to Fly1:03:13 - Idea #14: Small Is Beautiful and Less Fragile1:08:55 - Idea #15: Nonlinearities1:10:00 - Idea #16: Aging in Reverse — The Lindy Effect1:14:55 - Idea #17: Fasting1:17:53 - Idea #18: Heroism

📚 Try Shortform free for 5 days and get 20% off: https://shortform.com/almanack⁠💌 My newsletter where I share a timeless idea some Fridays (expect it once a month): ⁠⁠https://www.littlealmanack.com📙 My (free) ebook 43 Nuggets to Become Better, Richer, and Wiser: ⁠⁠https://pickingnuggets.com-------------------------CHAPTERS0:00 - Introduction1:05 - Insight #1: The Advantage of Being Lazy3:49 - Insight #2: Business Is About Solving Problems for Other People8:23 - Insight #3: There’s No Harm in Asking15:37 - Insight #4: Most People Hate Risk16:39 - Insight #5: Be the Only One in Your Category19:30 - Insight #6: Create Goodwill20:15 - Insight #7: Save and Invest23:18 - Insight #8: Anti-Goals27:31 - Insight #9: The Best Investors Think in Decades28:45 - Insight #10: Invest in What You Know29:42 - Insight #11: No One Is Impressed with Your Possessions as Much as You AreDISCLAIMERLinks included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you!

👉 Blog post version - https://www.littlealmanack.com/p/skin-in-the-game-nassim-taleb🟠 My notebook with over 5,000 insights (Doers Notebook) - https://www.doersnotebook.com/📚 Get a 20% discount with Shortform using my link - https://shortform.com/almanack💌 My weekly newsletter where I share a timeless idea every Friday - https://www.littlealmanack.com/📙 My (free) ebook 43 Nuggets to Become Better, Richer, and Wiser - https://pickingnuggets.com/-------------------------CHAPTERS0:00 - Introduction0:59 - Idea #1: Never Lose Touch with Reality9:55 - Idea #2: Skin in the Game is about Honor13:35 - Idea #3: Soul in the Game19:13 - Idea #4: Heroes Were Not Library Rats23:52 - Idea #5: The Public and the Private26:00 - Idea #6: Unpopular Virtue29:46 - Idea #7: Beware of Advice that Benefits the Advice-Giver and Never Harms Him33:07 - Idea #8: Talking One’s Book & Revealed Preferences38:02 - Idea #9: The Minority Rule46:06 - Idea #10: Employee vs Contractor50:00 - Idea #11: The Origin of Envy55:28 - Idea #12: The Lindy Effect1:01:38 - Idea #13: Simplicity and Complication1:06:32 - Idea #14: The Agency Problem1:11:11 - Idea #15: How to Make True Friends1:13:51 - Idea #16: Rationality is about SurvivalDISCLAIMERLinks included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you!

👉 The Black Swan (Amazon) - https://amzn.to/4j5tVnE👉 Blog post version - https://www.littlealmanack.com/p/the-black-swan-nassim-taleb🟠 My notebook with over 5,000 insights (Doers Notebook) - https://www.doersnotebook.com/📚 Get a 20% discount with Shortform using my link - https://www.shortform.com/almanack💌 My weekly newsletter where I share a timeless idea every Friday - https://www.littlealmanack.com/📙 My (free) ebook 43 Nuggets to Become Better, Richer, and Wiser - https://pickingnuggets.com/-------------------------CHAPTERS0:00 - Introduction4:47 - Idea #1: Focus on the Outliers8:49 - Idea #2: Platonicity12:31 - Idea #3: The Anti-Library15:46 - Idea #4: Scalable and non-scalable professions22:16 - Idea #5: The Province of Mediocristan24:34 - Idea #6: The Province of Extremistan27:17 - Idea #7: The Problem of Induction30:20 - Idea #8: Black Swans are always relative to knowledge31:08 - Idea #9: The Round-trip Fallacy33:12 - Idea #10: The Error of Confirmation (aka THE CONFIRMATION BIAS)35:43 - Idea #11: The basis for true Self-Confidence40:48 - Idea #12: The Narrative Fallacy44:09 - Idea #13: Silent Evidence48:06 - Idea #14: The Ludic Fallacy54:32 - Idea #15: Epistemic Arrogance & Epistemic Humility56:56 - Idea #16: The Fire Hydrant Experiment1:02:26 - Idea #17: Budget for Uncertainty1:04:09 - Idea #18: Ditch the 5-year plan1:06:52 - Idea #19: Maximize the Serendipity around you1:08:36 - Idea #20: Look for asymmetric outcomes1:10:21 - Idea #21: Set up your own gameDISCLAIMERLinks included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you!