Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Risk Everything (2007)

web.archive.org

Post reply on HN
Print view View original

21–30 of 142 posts

Re: Risk Everything (2007)

#21

Post by renewiltord »

elcomet wrote: post #19
kqr wrote: post #15

Earlier quoted context omitted.

Your statement sort of assumes the worst case has negative infinity utility. Which, granted, is usually how economists model human behaviour, but perhaps not how humans behave in practise. (If death truly had negative infinity utility, it would overpower the benefit of everything and we couldn't do anything.)

It doesn't assume this. That's just the definition of "risking everything". If you loose, then you have nothing left and you are at the bottom.

Right, but really risking everything is almost impossible to do. Like if I took my life savings and put them on red, I'm still going to be fine because I'll outrace that loss in no time.

To really risk everything I have to burn bridges, damage my brain, and lose all my money.

In the end, you always have yourself. Except when you die. And then it doesn't matter.

Interestingly, though, I've always stopped for people on the side of the road to render aid and had many fun stories come from it but I almost never do when I have women in the car. I'm not entirely sure why but I don't.

The only exception was years ago on the Road to Hana where it was after dark on the South East side of the island and we came upon a family with a busted tyre. But I think on the mainland, probably not.

So maybe there's more to loss than oneself. I think I'd eat total death myself over harm to those I am responsible for.

Re: Risk Everything (2007)

#22

Post by kasitmp »

I really like that the author helped them and it sounded odd to me to read "The prevailing wisdom for this seafaring situation is “Don’t Stop.”", before I realised that in different countries there are different threats. Sailing mainly in the Baltics, there is the opposing rule of having the duty to help people in distress at sea.

I'm not sure I fully understand the "learning" part, isn't this a bit of survivor bias, especially the boldness part? Risking all your money in a society with a safety net is different to me than risking your own life on high sea, mainly w/o knowing in what situation you bring yourself. There is a huge group who's story can't be told anymore. However, maybe I'm already too lazy and unwilling to take risks.

Re: Risk Everything (2007)

#24

Post by jackstraw14 »

rramadass wrote: post #17

From Rudyard Kipling's If ; If you can make one heap of all your winnings And risk it on one turn of pitch-and-toss, And lose, and start again at your beginnings And never breathe a word about your loss; If you can force your heart and nerve and sinew To serve your turn long after they are gone, And so hold on when there is nothing in you Except the Will which says to them: ‘Hold on!’

the conclusion after many ifs is:

"Yours is the Earth and everything that’s in it, And—which is more—you’ll be a Man, my son!"

Re: Risk Everything (2007)

#25

Post by bjarneh »

kasitmp wrote: post #22

I really like that the author helped them and it sounded odd to me to read "The prevailing wisdom for this seafaring situation is “Don’t Stop.” ", before I realised that in different countries there are different threats. Sailing mainly in the Baltics, there is the opposing rule of having the duty to help people in distress at sea. I'm not sure I fully understand the "learning" part, isn't this a bit of survivor bias…

> there is the opposing rule of having the duty to help people in distress at sea.

That's all I've ever heard as well. Perhaps the amount of pirates/refugees/drug-runners in those waters around Belize has turned that on its head?

Re: Risk Everything (2007)

#26

Post by FerociousTimes »

dist1ll wrote: post #20

Maybe I'm a bit cynical, but I don't see anything admirable about this mindset. In fact, I think it's incredibly selfish. What kind of inhumane person would "risk everything" on a business venture? This reads like a dystopian horror novel exploring the extremes of a deranged entrepreneur's mind.

Yeah, I agree that your take is cynical and judgemental to boot. No need to pass judgment on other people's value system esp. when the matter is very personal and won't affect other individuals or creatures and just deals with their subjective worldview and how they make sense of their role and contribution to the society or humanity in general.

Re: Risk Everything (2007)

#28

Post by oarabbus_ »

kqr wrote: post #15
nme01 wrote: post #12

I see a problem with risking everything that is if your goal is to either make it to the top or make it to the bottom, then risking it all is the way to go. Yet, that’s a poor long-term strategy. Eventually risk will realize and you’ll lose it all.

Your statement sort of assumes the worst case has negative infinity utility. Which, granted, is usually how economists model human behaviour, but perhaps not how humans behave in practise. (If death truly had negative infinity utility, it would overpower the benefit of everything and we couldn't do anything.)

>(If death truly had negative infinity utility, it would overpower the benefit of everything and we couldn't do anything.)

It's true death has utility in an economic sense, as one needs not look further than the funeral/death care industry to find utility. But if we are talking about death of the self, the negative infinite utility claim seems more convincing than the non-negative-infinite one. In fact, negative infinite utility might be a near-perfect synonym for death.

And at the risk of sounding overly nihilistic, it may well overpower the benefit of everything/anything, again if we are specifically talking about the self.

Re: Risk Everything (2007)

#29

Post by Jensson »

dist1ll wrote: post #20

Maybe I'm a bit cynical, but I don't see anything admirable about this mindset. In fact, I think it's incredibly selfish. What kind of inhumane person would "risk everything" on a business venture? This reads like a dystopian horror novel exploring the extremes of a deranged entrepreneur's mind.

Most students risks more than everything, as worst case they will be ridden with debt without any additional job prospects. For an entrepreneur at worst they can declare bankruptcy and be better off than the student.

So it doesn't seem like entrepreneurship is all that risky compared to what average students go through.

Re: Risk Everything (2007)

#30

Post by throwaway642012 »

kasitmp wrote: post #22

I really like that the author helped them and it sounded odd to me to read "The prevailing wisdom for this seafaring situation is “Don’t Stop.” ", before I realised that in different countries there are different threats. Sailing mainly in the Baltics, there is the opposing rule of having the duty to help people in distress at sea. I'm not sure I fully understand the "learning" part, isn't this a bit of survivor bias…

Most successful entrepreneurs have a safety margin and take calculated risks while starting new ventures. Seldom do the "Hail Mary" ventures end up in success, because the odds are stacked against them (yes, there are outliers).

What the author is alluding to that, while entrepreneurs like her think they are risking everything while starting a venture, their struggles are lesser compared to the people in the boat and similar others.

Post reply on HN