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10.1 Potential Harm and Why the Rich Get Richer

High-impact decisions must be treated differently than low-stakes ones. Considering the potential harm that could reasonably occur is crucial to making the best choice. This video uses the examples of gambling and real estate to assess high risk situations and make the correct choices. As wealthier people can spend more money with less risk, they tend to grow richer as those with less money must protect themselves from heavy losses.

10.2 High Impact Rare Events

This video discusses high-impact, rare events and the importance of considering long term risk in addition to short term gain. We want to look at strategies that can help us decrease our exposure to negative events and increase our exposure to positive ones.

10.3 Efficiency and Its Flaws

This video discusses efficiency and the negative events that can result from focusing too heavily on it. Using an example of arriving late to an airport to save time, too great a focus on efficiency can lead to a series of issues. The concept of margins is discussed as a method to combat the negative aspects of efficiency. The planning fallacy is also discussed.

10.4 Unknown and Hidden Risks

Bias against unknown risk can be useful or even life-saving. This video talks about hidden risks in life and the importance of addressing new situations with care and caution.