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The key to being fearless is to have nothing to lose. And the only way to have nothing to lose

Every position on the board has an advantage. Right?

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Chapters

  1. 0:00
    Abschnitt 1 Every position on the board has an advantage.
  2. 0:30
    Abschnitt 2 And so, in order to be fearless, we have to come to the realization that nothing in this world belonged to you to begin with.
  3. 0:56
    Abschnitt 3 And so, you could run out of chips, but you still have time.

Full transcript

Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.

3 segments

0:00Every position on the board has an advantage. Right? If you If you have nothing to lose, >> [music] >> then you have nothing to lose. If you're like, I have nothing, it means you have nothing to lose. You were in the position where you can literally take endless, unlimited lottery tickets from life, which means you try it and you try and you try and you try because your downside is zero. You have nothing to lose. Fear comes from having something to lose.

0:30And so, in order to be fearless, we have to come to the realization that nothing in this world belonged to you to begin with. >> [music] >> Like, we're just passersby. Even if you accumulate whatever assets you think you are, >> [music] >> you just push your chips back at the end of the game anyways. It's just the game. And so, you're somebody who has no chips, but the one [music] thing that's different about poker versus real life is that the chips you get get replenished every day with the minutes of time [music] that you have.

0:56And so, you could run out of chips, but you still have time. Now, if you run out of chips in the real life, [music] out of points, right? Game over. Um but until that day, you can play every day. And I think that when you have a a capped downside and uncapped [music] upside, that is the recipe for opportunity.