Walt Disney gained worldwide fame with the animated film ‘Steamboat Willie,’ but Disney’s first studio went bankrupt. By the mid-1930s, he had produced over 400 animations, most of which suffered heavy losses. In 1938, Snow White and the Seven Dwarfs made $8 million in just the first half—more than ten times the earnings of other films. Meanwhile, with this animation, the company paid overdue wages to its employees and recovered the losses it had sustained. An unusual event that changes everything is called a “tail event.” 40% of publicly listed companies in the U.S. stock market lose nearly all their market capitalization 10 years after going public. Business and investing, after all, are based on probabilities. No one knows what the “tail event” will be. Therefore, to succeed, you need to try small, steady, many times with little impact, even if you fail. - Joseph’s “just my thoughts”
Tom Sawyer was punished by Aunt Polly. As part of his punishment, Tom is painting the fence of his house when his local friends come by to ask if it’s fun. When Tom tells them that it is, they ask for a chance to try it. Tom refuses, saying it’s not free, but his friends offer him toys and food, begging for permission. Tom ends up profiting while fulfilling Aunt Polly’s punishment without doing the work himself. There is a dynamic relationship in everything, and management provides a little strength wherever things can go well. If you work hard without question, you need to bring toys and food to others, but if you work wisely, you’ll achieve your goals with the help of others, gaining both toys and food along with praise. All Tom did was hold a paintbrush in front of the fence and smile. - Joseph’s “just my thoughts”