Tag Archives: Tinkering

Genes | Free Full-Text | Antifragility and Tinkering in Biology and in Business Flexibility Provides an Efficient Epigenetic Way to Manage Risk

Abstract: The notion of antifragility, an attribute of systems that makes them thrive under variable conditions, has recently been proposed by Nassim Taleb in a business context. This idea requires the ability of such systems to ‘tinker’, i.e., to creatively respond to changes in their environment. A fairly obvious example of this is natural selection-driven evolution. In this ubiquitous process, an original entity, challenged by an ever-changing environment, creates variants that evolve into novel entities. Analyzing functions that are essential during stationary-state life yield examples of entities that may be antifragile. One such example is proteins with flexible regions that can undergo functional alteration of their side residues or backbone and thus implement the tinkering that leads to antifragility. This in-built property of the cell chassis must be taken into account when considering construction of cell factories driven by engineering principles.

via Genes | Free Full-Text | Antifragility and Tinkering in Biology and in Business Flexibility Provides an Efficient Epigenetic Way to Manage Risk.

Nassim Taleb – ManagemenTV

It’s much better to mistake a stone for a bear, than a bear for a stone.

India Today Conclave 2010

NNT spoke in India March 12, 2010.
(Click arrow to listen) NNT India

Update 03/11 YouTube videos coming in now.
Intro and Part 0 (I think, seems to have been mislabled as Part 5)

Part 1

Part 2

Part 3

Part 4

Banking system still weak: Taleb
Nivedita Mukherjee

 

Image

What is the power of the unknown? What can be the impact of invisibles? Well, the answer is in the realm of the unknown, according to Nassim Nicholas Taleb, author of Black Swan, philosopher and expert on risk engineering, who is now penning his thoughts on living in a world we do not understand.

The management guru has no accurate answer but, based on the current risk environment, a plethora of clues on the shape of things to come. At times, revolutions like the Internet are triggered off by intentions other than initially thought of, he said. For instance, he said it was former US president Ronald Reagan’s obsession with the destruction of the Soviet Union that sparked the Internet revolution.

Taleb believes that nation-states, which he describes as modern inventions, are very unstable, especially in the Western world. Already, as he pointed out, six million people are unemployed in the US and the centre of the world is moving away from the West.

Addressing the widespread intellectual ferment over the stability of the current financial system, Taleb hinted that governments would be better off relying on positive revenues like household savings. The banking system is still weak and Europe and the US are hit hard by deficits. In fact, according to Taleb, the US with its high GDP and high spending is far more fragile than India and Russia. The solution, Taleb said, lies in breaking the back of the debt system.