The alternative way that you can reduce risk is actually just reducing consequence, right? And we would argue that that's a much better way to reduce risk. Odds uh are stochastic, right? Even if you do an enormous amount of risk reduction on odds and you do all this engineering, something's still going to happen, right? like just something's going to come out of left field and you can't predict everything.
much cultural success is stochastic (the experimental evidence suggests that talent only moderately predicts success in culture markets), and that path dependence shapes chances of success
And so that's the last thing which was very surprising to me which is that like we already reversibly cry preserve tissue including human tissue including whole body human tissue at that very very small like you know in a couple hundred cells stage
The short, and very much un-sweet, vision of a tariff-bound economy is that it is stochastic. We can observe it, measure it, analyze it, but we cannot really predict it.
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