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The James Altucher Show

The Ultimate Guide to Risky Decisions: Risky Business with Maria Konnikova and Nate Silver: Maria Konnikova and Nate Silver

The James Altucher Show

James Altucher

Society & Culture, Talk Radio, Writer, Philosophy, Comedy, Chess, How To, Entrepreneurship, Jay, James, The James Altucher Show, Altucher, Author, Jay Yow, Education, Jay The Engineer, Business, James Altucher

4.62.7K Ratings

🗓️ 9 October 2024

⏱️ 74 minutes

🧾️ Download transcript

Summary

James Altucher brings together two brilliant minds: Nate Silver, known for his predictive prowess, and Maria Konnikova, a renowned psychologist and poker player. The trio delves into how they make calculated decisions when the stakes are high. This episode is a masterclass on using rational thinking to handle life's risks, straight from the experts who live and breathe it.

Transcript

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0:00.0

Are you a member of the River or the Village? This is an important question for our upcoming episode here.

0:15.0

Members of the River, as described by Nate Silver,

0:19.0

you might know him from his Just Outbook on The Edge, his podcast, business or his pioneering election statistics

0:29.0

probabilities all around elections he was running 538.com now he's doing the silver bulletin his newsletter and

0:37.1

Maria Kanakova who I don't know if you remember a few years ago. She didn't know anything about

0:42.4

poker started taking poker lessons. remember a few years ago she didn't know anything about poker

0:43.0

started taking poker lessons and within a year she was she was writing a book called

0:47.1

or she wrote a book called the biggest bluff appeared on this podcast but she

0:50.3

became a really great poker player.

0:52.8

So members of the river, as defined by these two,

0:56.6

are able to make rational decisions

0:59.5

using probabilities, data, and not just gut emotions.

1:06.2

Like when you're willing to take risks

1:09.1

and by understanding all the probabilities,

1:11.5

this is how, for instance, you become a great poker player, a great, perhaps

1:16.3

better on elections, and even perhaps a great investor.

1:20.0

It changes the way you look at all the decisions in your life and we're going to talk

1:24.8

about that and many other things we're going to talk about their podcast risky

1:27.9

business we're going to talk about Nate's book on the edge their newsletters

1:31.5

which is the leap from Maria or the Silver Bulletin from

1:34.7

Nate, and we're going to talk even more about elections and poker.

1:39.4

So again, keep in mind, keep asking yourself the question, are you a member of the river or the village?

...

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