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Consider that the turkey's experience may have, rather than no value, a negative value. It learned from observation, as we are all advised to do (hey, after all, this is what is believed to be the scientific method). Its confidence increased as the number of friendly feedings grew, and it felt increasingly safe even though the slaughter was more and more imminent. Consider that the feeling of safety reached its maximum when the risk was at the highest!

Nassim Nicholas Taleb#13

RiskInsecurityLearning

About this quote

What does it mean?
Learning from the past can be dangerous if conditions change unexpectedly.
In plain terms
The turkey learned that feedings were safe until it was too late.
What can you take from it?
Past safety does not guarantee future safety.

Where it applies

  • financial investing
  • career planning

Putting it to work

  • avoid complacency
  • prepare for shocks

Questions to consider

  • Where might you be the turkey?
  • How do you test safety?

Another view

Observation is usually useful even if it has limits.

More from Nassim Nicholas Taleb

  1. We favor the visible, the embedded, the personal, the narrated, and the tangible; we scorn the abstract.

    Permalink to quote #12
  2. A casino is the only human venture I know where the probabilities are known.

    Permalink to quote #14
  3. Probability is not about the odds, but about the belief in the existence of an alternative outcome, cause, or motive.

    Permalink to quote #11

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