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”
A Tiny Crevice. In other words, it is also called an affordance , permissiveness , or tolerance . A 5mm hole and a 5mm rod don’t fit perfectly together. If you hit it with a hammer, the rod might go into the hole, but only by forcing it. If they are the same size, they don’t really fit. There needs to be a slight gap to ensure a proper fit, which is known as ‘ engineering tolerance .’ In this world, 5mm exists only as a concept and doesn’t truly confirm its existence. For some, ‘tolerance’ might be seen as a mistake or imperfection, but for others, it’s a principle of life that drives the world and should be natural. - Joseph’s “just my thoughts”