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 neuroscience , ‘ memory ’ and ‘ forgetting ’ are regarded as the same concept. ‘ Remember ’ presupposes ‘forgetting,’ and ‘remembering’ can lead to ‘forgetting.’ Memory is generally categorized into ‘ semantic memory ’ and ‘ autobiographical memory .’ We do not know when or how we learned that Stockholm is the capital of Sweden. This is referred to as semantic memory, which does not involve an attempt to remember. In contrast, autobiographical memory involves an effort to recall a fact that has been personally experienced. Both types of memory entail forgetting. Semantic memory omits the process of acquiring knowledge, while autobiographical memory strives not to forget. Studying entails the process of retaining or forgetting these two types of memory. When the distinction between them is unclear, we mistakenly presume that others have taken our thoughts and experiences. - Joseph’s “just my thoughts”