Unknown Unknowns #23 - Know Thyself
2 min read

Unknown Unknowns #23 - Know Thyself

The Oracle of Delphi was were the wisest of Ancient Greece went for advice.  There were three maxims inscribed on the outside.  "Know Thyself," "Nothing to excess," and "Surety brings ruin".

This Week:

I wrote a piece on empathy that I was planning on sharing with you today, but decided to make some changes that I couldn't finish on time.  That means two essays for you next week!  (Hopefully)

I will share a tweet thread that I made in reaction to Daniel Vassallo's tweet.

This wisdom has been given time and time again, over thousands of years, yet few follow the advice.

Discoveries:

=> Annie Duke is a professional poker player, author, and expert on probabilistic thinking.  On Episode 26 of The Good Life Podcast, she talks about the Paradox of Experience.  The only way you can learn is through experience, but your specific experience will color what you learn.  Your specific experience will have elements of luck and have hidden information.  Example, people entering the stock market will have vastly different experiences if they started investing in 1999 vs 2001.  They'll take different lessons from these experiences even though they are ostensibly learning the same thing.

=> Ana Lorena Fabrega is an expert on education.  She tweeted about Synthesis, a new program of learning that's based off of creating low downside simulations.  This ties directly with Cedric Chin's summary of Accelerated Expertise.

Random Thought:

I've been trying to learn more about the DeFi space and I've been stuck on the idea of yield farming.  

The highest rates are for tokens that they are trying to stimulate demand with high rates.  They can partially fund those rates by borrowing tokens that pay lower rates.  And those are funded by borrowing tokens that pay lower rates than those.  And on it goes.  But doesn't there need to be some value creation somewhere?  Am I missing something?  At some point, there has to be cashflow.

Reminds me of CDO^2 and some other structured products.


Questions, suggestions, complaints?  Email me me at [email protected].  Feedback welcome.

If you enjoyed this newsletter, please share it with a friend or two.  And feel free to send anything you find interesting to me!

Have a great week,

Chris

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