Wednesday, February 18, 2009

Maximum tinkering

"...contrary to social-science wisdom, almost no discovery, no technologies of note, came from design and planning—there were just black swans. The strategy for the discoverers and entrepreneurs is to rely less on top-down planning and focus on maximum tinkering and recognizing opportunities when they present themselves."

From prologue of the Black Swan by Taleb

Update: Risk mis-management in stock market that requires the maximum tinkering treatment.

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