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”
In languages such as English, the form or pronunciation of an article differs depending on whether the following noun begins with a consonant or a vowel. In other words, the change in the article that precedes the noun (e.g., ‘a’ or ‘an’) is influenced by the noun that follows it. There is a logical contradiction in that the article must be pronounced before the nouns to follow, yet it must already be determined and spoken even if the noun hasn’t been stated yet. This situation presents a challenge. A significant cognitive process occurs in an English-speaking person, where one must speak while simultaneously predicting the words that will come next. Learning a foreign language involves training your brain to make this process habitual, reducing the prediction time and requiring less cognitive effort. Ultimately, one must rely on patterns that are memorized through repetition. Thus, memorization and repetition serve as effective strategies to overcome these contradictory connections. -...