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”
Diving into the water without an oxygen tank is called ‘ free-diving .’ It is a form of apnea diving in which divers must hold their breath for an extended period while diving deep into the water with just one breath of oxygen. The difficulty in holding the diver’s breath during this time is not due to a lack of oxygen but rather an increase in carbon dioxide concentration. In other words, if you keep your heart rate low and your metabolism slow, you produce less carbon dioxide, which allows you to dive for a longer duration. The only way to maintain a low heart rate is to remain as calm as possible. Maintaining calmness has numerous benefits in life. - Joseph’s “just my thoughts”