A Deeper Understanding of How Bad Things Happen

Risk comes in lots of different forms. In Skin in the Game, Taleb's last, underrated book. He breaks risk down into ensemble probabilities and time probabilities. On top of that he demonstrates that risk operates differently at different scales. And that if we want to avoid large scale ruin—ruin at the level of nations or all of humanity—that we should be trying to push risk down the scale.