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”
When it comes to people, what is more frightening, guns or bullets? Of course, it is a gun. People are more sensitive to direct threats than indirect threats. The invisible is not afraid. The essence of fear comes from the “unknown,” but it also comes into contact with calculations that seem more likely to be a threat. The free time that threats have not yet been implemented plays a rich soil in corruption and crime. However, the guns and bullets are all scary. - Joseph’s “just my thoughts”