I took some random bets in life about what should I do and now I am stuck
I just found out about the power law from the veritasium video and found that I have been believing in it unknowingly, right now I am at the bad end of the curve and not able to make any sense of things happening to me, what should I do ?
I think the only option I have is to take more bets in life but please share your wisdom, wizards of the internet...
5 comments
It seems to me that investing in the markets (which is what I assume you're question is about) means playing in a domain with stacked power laws. When markets are normal, you can spread your investments across many startups and win, but when a crash occurs in the overall market(s), you lose. So timing is everything, but every investment advisor will tell you that you cannot win by trying to time your trades. Obviously the flash traders feel differently, but they're still subject to the overall crash, no matter how well they are hedged.
No it's not related to trading, although I do retail trading sometimes but this time I took a bet by leaving my cushy tech job as a software engineer to pursue building something on my own and now it has been a few months and I have realised that my job was something that gave my life a routine and purpose, without it I feel a bit lost and my time is mostly wasted in overthinking.
Your word choice, e.g. "bets", implies that your mental model for life is gambling.
While very popular today, it's a losing game that you are playing.
Read/study about better, more empowering mental models, for instance, check the writings of Shane Parrish.
While very popular today, it's a losing game that you are playing.
Read/study about better, more empowering mental models, for instance, check the writings of Shane Parrish.
Can you elaborate more on this topic, what is your mental model and why do you think its the best ? I will check out Shave Parrish
*Shane Perish