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”
The format influences the content. Does coffee served in an attractive cup taste better? Short pants look stylish on some occasions, while others seem tacky or absurd. Why do the same jeans have such varying perceptions? Factors like who wears them, the type of fabric, and the context define their coolness or sloppiness. Effective communication relies on a format that is worthy of quality content. - Joseph’s “just my thoughts”