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”
According to a cognitive psychologist’s study, creativity is closely related to goal setting. Even though it seems less likely than it does for someone who simply sets a viable goal, a person who sets an unusual goal is more likely to have the ability to connect unrelated elements. In terms of creativity, “dreaming” is more important than planning. One of the things artificial intelligence can’t do on behalf of humans is engage in this act of dreaming. - Joseph’s “just my thoughts”