As far as known, human society today is the most complex system in the universe. However, complex systems are fragile and unstable, so maintaining our complex society is a particularly interesting and difficult challenge.
He had to fail hard in order to become one of the world’s most successful investors. Ray Dalio transformed that lesson in humility into principles for taking the best possible decisions. Ray in conversation with Theo Kocken.
The XL whitepaper ‘The Enemy Within’ describes our cognitive pitfalls and biases. Over the course of more than 100 pages, co-author Stefan Lundbergh showcases the world as it really is, offering eight practical building blocks to arm yourself against biases and group behaviour to make better decisions.
In our fundamentally uncertain world, people look for certainty. Holding on to unified models may be comfortable, but they can’t capture the complexity of the world around us. Theo Kocken, the founder of Cardano, knows that economics comes down to more than just mathematical models, precisely because humans are not rational beings.