Shared by JohnH

HatTip to Dave Lull! Thanks Dave.

Notes from the talk

Taleb returns to his alma mater. This talk supercedes his previous work (e.g. Black Swan). His main points are:

• We don’t have a word for the opposite of fragile.
    Fragile systems have small probability of huge negative payoff
    Robust systems have consistent payoffs
    ? has a small probability of a large pay-off
• Fragile systems eventually fail. ? systems eventually come good.