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  • #054 - The Bed of Procrustes: Nassim Taleb (Incerto Series)
    2024/09/12

    Learn from history's Greatest Minds — and find Timeless ideas you can apply to business and life. Every episode we explore a Lindy book: We strive to become polymaths like our investing and business icons, pulling the Big Ideas from a wide range of disciplines. For the curious-minded seeking Worldly Wisdom. Join 3,000+ others by subscribing @ rationalvc.com to get free access to essays and exclusive content.

    For the video version of this episode click here.

    A rare episode where we invited guests to join us, in this case due to the book being a unique format and also wrapping up our entire 5-episode Incerto Series. We discussed the application of the Incerto teachings in the real world, with two of the biggest Incerto practitioners we know.

    Timestamps:

    (00:00) Intro

    (08:57) Our Favourite Aphorisms

    (16:04) Special Guests Join & Their Intros

    (17:59) Dangers of Monthly Salary

    (24:25) Golden Handcuffs, Legacy vs. Lifestyle

    (28:00) Our DNA as Hunter-Gatherers

    (31:50) Learn Sales Before Technical Skills

    (36:00) Practice Before Theory

    (37:04) Conventional Education

    (43:00) Convexity, Agency, & Mediocristan

    (57:21) More Aphorisms

    (1:00:19) Ergodicity, Rationality & Survival

    (1:08:32) Venture Capital & Startups

    (1:23:53) Asymmetry of Information, & Honour

    (1:29:20) Bureaucracy

    (1:34:05) Fat Tony

    (1:43:11) Small Bets

    (2:09:51) Via Negativa & Making Money Online

    (2:18:19) Gathering Vs. Elicitation Mindset

    (2:21:52) Incerto Practice in the Real World

    (2:31:06) Closing Thoughts

    Our website (all essays and podcasts): rationalvc.com
    Our investment fund: rational.fund
    Cyrus' Twitter: x.com/CyrusYari
    Iman's Twitter: x.com/iman_olya

    Guests:

    Daniel Vassallo's Twitter: x.com/dvassallo
    Seb Lees' Twitter: x.com/sebs_tweets
    Daniel's company: smallbets.com
    Seb's Podcast & Community: fattonys.net

    Disclaimer: The materials provided are solely for informational or entertainment purposes and do not constitute investment or legal advice. All opinions expressed by hosts and guests are solely their own opinions and do not reflect the opinion of their employer(s).

    #Timeless #wisdom #knowledge #books #polymaths

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    2 時間 33 分
  • #053 - Skin in the Game: Nassim Taleb (Incerto Series)
    2024/07/25

    Learn from history's Greatest Minds — and find Timeless ideas you can apply to business and life. Every episode we explore a Lindy book: We strive to become polymaths like our investing and business icons, pulling the Big Ideas from a wide range of disciplines to help us become better investors and operators. For the curious-minded seeking Worldly Wisdom. Join 3,000+ others by subscribing @ rationalvc.com to get free access to essays and exclusive content.

    For the video version of this episode click here.

    Timestamps:

    (00:00) Intro

    (08:16) Core Concepts

    (12:10) Important Prologue One

    (29:10) Important Prologue Two

    (45:04) Prologue Three

    (49:42) A First Look at Agency

    (1:05:00) Ethics Problems in Scaling

    (1:09:00) The Minority Rule

    (1:29:40) Employment & FU Money, Freedom

    (1:47:26) Status, Manners & Competence

    (1:49:55) On Taking Risks

    (1:55:35) The Intellectual Yet Idiot

    (2:04:17) The Lindy Effect Recap

    (2:09:10) Deeper Into Agency

    (2:11:58) The Illusion of Business Plans

    (2:15:00) Charlie Munger, Show Rather Than Be

    (2:17:15) Financial Minimalism, Mimesis

    (2:24:22) Virtues & Advice for Young People

    (2:26:37) The Interventionistas

    (2:28:36) Religion, Belief, & SITG

    (2:31:10) Most Important, Book 8: Risk & Rationality

    (2:51:05) Epilogue

    Our website (all essays and podcasts): rationalvc.com
    Our investment fund: rational.fund
    Cyrus' Twitter: x.com/CyrusYari
    Iman's Twitter: x.com/iman_olya

    Referenced Material:

    Cyrus on "Financial Minimalism", Viral Essay:
    https://www.rationalvc.com/articles/minimalism

    Also listen to the prior three podcast episodes - each covered the other books of Taleb's Incerto Series.

    Disclaimer: The materials provided are solely for informational or entertainment purposes and do not constitute investment or legal advice. All opinions expressed by hosts and guests are solely their own opinions and do not reflect the opinion of their employer(s).

    #Timeless #wisdom #knowledge #books #polymaths

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    2 時間 59 分
  • #052 - Antifragile: Nassim Taleb (Incerto Series)
    2024/06/13

    Learn from history's Greatest Minds — and find Timeless ideas you can apply to business and life. Every episode we explore a Lindy book: We strive to become polymaths like our investing and business icons, pulling the Big Ideas from a wide range of disciplines to help us become better investors and operators. For the curious-minded seeking Worldly Wisdom. Join 3,000+ others by subscribing @ rationalvc.com to get free access to essays and exclusive content.

    For the video version of this episode click here.

    Timestamps:

    (00:00) Intro

    (11:39) Antifragile definition

    (19:13) Introduction to the core concepts

    (22:04) Hormesis, naïve interventionism, iatrogenics

    (33:55) Peter Kaufmann and Charlie Munger

    (35:57) Modernity, Switzerland, political systems

    (55:21) Concavity vs Convexity and Black Swans

    (1:07:30) FU Money and wealth

    (1:13:12) Optionality and wealth

    (1:21:47) Barbell strategy

    (1:43:02) Rational Flaneur

    (1:47:23) The Lindy Effect

    (2:01:22) Raising antifragile kids

    (2:12:19) Green Lumbar fallacy

    (2:23:53) Signal vs Noise

    (2:29:00) Via Negativa

    (2:51:07) Ethics of Antifragility and Skin in the Game

    (2:57:36) Deep dives and quotes

    (3:35:32) Closing thoughts

    Our website (all essays and podcasts): rationalvc.com
    Our investment fund: rational.fund
    Cyrus' Twitter: x.com/CyrusYari
    Iman's Twitter: x.com/iman_olya

    Links mentioned in the episode:

    Cyrus referenced Tweets:
    https://x.com/CyrusYari/status/1792279103862681603
    https://x.com/CyrusYari/status/1757715505819906419
    https://x.com/CyrusYari/status/1679174178195353600

    Peter Kauffman Rational VC episode:
    https://www.youtube.com/watch?v=kMiOFC07X8M&t=8s

    The Black Swan episode:
    https://youtu.be/HVGJQ25Cr2k?si=8b2DPBPX80Pgbgag

    Vizi Andrei:
    https://twitter.com/viziandrei

    Daniel Vassallo:
    https://twitter.com/dvassallo

    Cyrus essay on Angel Investing (incl. Barbell Investing):
    https://www.rationalvc.com/articles/angel

    WhosAria Bars of Wisdom newsletter:
    https://www.barsofwisdom.com

    Fat Tony's Community:
    https://fattonys.net/

    Disclaimer: The materials provided are solely for informational or entertainment purposes and do not constitute investment or legal advice. All opinions expressed by hosts and guests are solely their own opinions and do not reflect the opinion of their employer(s).

    #Timeless #wisdom #knowledge #books #polymaths

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    3 時間 43 分
  • #051 - The Black Swan: Nassim Taleb (Incerto Series)
    2024/04/04

    Learn from history's Greatest Minds — and find Timeless ideas you can apply to business and life. Every podcast episode we explore a Lindy book: We strive to become polymaths like our investing and business icons, pulling the Big Ideas from a wide range of disciplines to help us become better investors and operators. For the curious-minded seeking Worldly Wisdom. Join 3,000+ curious minds and avid readers by subscribing @ rationalvc.com to get free access to essays and exclusive content.

    For the video version of this episode click here.

    Timestamps:

    (00:00) Intro / chit-chat

    (09:26) Structure of the show

    (10:36) What is a Black Swan?

    (19:34) Human blindness to Black Swans

    (01:02:45) Mediocristan vs Extremistan

    (01:30:45) Bell Curve / Gaussian fraud

    (01:37:18) Why the Midwit meme is wrong

    (01:47:27) Leveraging Black Swans

    (01:58:34) Chapter overviews

    (02:19:16) Chapter 19 deep dive

    (02:27:58) Favourite quotes / our lives

    (02:37:09) Fat Tony

    (02:43:33) 10 Principles for Black Swan robustness

    (02:48:54) Amor Fati

    Our website (all essays and podcasts): rationalvc.com
    Our investment fund: rational.fund
    Cyrus' Twitter: x.com/CyrusYari
    Iman's Twitter: x.com/iman_olya

    Links mentioned in the episode below:

    Iman Tweet on daily routines of creatives:
    https://twitter.com/iman_olya/status/1764721995743121415

    Table 1 - Extremistan vs Mediocristan:
    https://capitalideasonline.com/wordpress/mediocristan-vs-extremistan/

    Vizi Andrei:
    https://twitter.com/viziandrei

    Cyrus being interviewed on the Brick by Brick podcast:
    https://open.spotify.com/episode/54RvagfMSIWNtVwAe2193a?si=1cb28db259814326

    Cyrus essay on Angel Investing (incl. Barbell Investing):
    https://www.rationalvc.com/articles/angel

    Cyrus essay on Tech Markets are Irrational:
    https://www.rationalvc.com/articles/irrational

    Jack Raines FU Money ZeroHedge essay:
    https://www.youngmoney.co/p/fck-money

    WhosAria Bars of Wisdom newsletter:
    https://www.barsofwisdom.com

    Fat Tony's Community:
    https://fattonys.net/

    Disclaimer: The materials provided are solely for informational or entertainment purposes and do not constitute investment or legal advice. All opinions expressed by hosts and guests are solely their own opinions and do not reflect the opinion of their employer(s).

    #Timeless #wisdom #knowledge #books #polymaths

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    3 時間
  • #050 - Fooled by Randomness: Nassim Taleb (Incerto Series)
    2024/01/08

    Learn from history's Greatest Minds — and find Timeless ideas you can apply to business and life. Every episode we explore a Lindy book: We strive to become polymaths like our investing and business icons, pulling the Big Ideas from a wide range of disciplines to help us become better investors and operators. For the curious-minded seeking Worldly Wisdom. Join 3,000+ others by subscribing @ rationalvc.com to get free access to essays and exclusive content.

    For the video version of this episode click here.

    Timestamps:

    (00:00) Intro / chit-chat

    (20:11) Randomness & Luck

    (24:46) Monte Carlo Simulation

    (31:09) Ergodicity

    (31:39) Hindsight Bias

    (38:00) Survivorship Bias

    (39:50) Asymmetric Bets / John & Nero

    (49:53) Skewness & Asymmetry

    (57:19) Pascal's Wager

    (1:00:53) Induction & Chaos Theory

    (1:03:22) Chapter 11

    (1:08:45) System-1 vs System-2 Thinking

    (1:10:03) Satisficing

    (1:20:08) Normative vs Positive Thinking

    (1:25:52) Signal vs Noise

    (1:28:20) Heuristics

    (1:33:45) Final Part of Book (Part 3's Importance)

    (1:44:41) Favourite Quotes / Our Lives

    (2:06:11) Final Thoughts

    Our website (all essays and podcasts): rationalvc.com
    Our investment fund: rational.fund
    Cyrus' Twitter: x.com/CyrusYari
    Iman's Twitter: x.com/iman_olya

    Disclaimer: The materials provided are solely for informational or entertainment purposes and do not constitute investment or legal advice. All opinions expressed by hosts and guests are solely their own opinions and do not reflect the opinion of their employer(s).

    #Lindy #knowledge #books

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    2 時間 11 分
  • #049 - The Podcast Is Pivoting And Rebranding!
    2023/08/29

    ** Apologies for the audio quality, it's been a while! New audio set-up. The audio will be significantly better from the next episode. In this transitionary episode we discuss our pivot, after 49 episodes our podcast is continuing, albeit in a much different direction, and rebranding. From the next episode (ep. 50 it will be in the new format and all changes will be reflected then). We discuss all the changes (and our view on the podcasting space) in this short transitionary episode.

     

    Video version of episode: https://www.youtube.com/watch?v=x2L49pYXx8g 

     

    "the rational letter" - For free you can join 3,000+ seasoned investors, founders, scientists, engineers, and erudites read the same email summary of our learnings from a Lindy book and use the ideas in their work and life. Curated and emailed once a month. Nothing else. Sign up for it here: https://rationalvc.com

     
    Our investment fund: https://rational.fund 
    Cyrus' Twitter: https://twitter.com/CyrusYari 
    Iman's Twitter: https://twitter.com/iman_olya 

     

    00:00 Intro Banter
    04:18 Explaining the Pivot / Rebrand, Plus Views on Podcasting Space
    26:07 Outro

     

    -

     

    Disclaimer: The materials provided are solely for informational or entertainment purposes and do not constitute investment or legal advice. All opinions expressed by hosts and guests are solely their own opinions and do not reflect the opinion of their employer(s).

     

    #podcast #knowledge #books

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    27 分
  • #048 - Jim O'Shaughnessy (OSV.LLC): Becoming a More Nuanced Thinker
    2023/05/24

    Jim O'Shaughnessy is one of the greatest thinkers of our time. A curious mind, Wall Street legend, Venture Capitalist (OSV.llc), best-selling author, previously founder of OSAM (sold to Franklin Templeton), podcaster (infinite loops), father, grandfather, and the list goes on. We discussed numerous topics. Check the timestamps below for topics and enjoy the audio, or you can watch the video over on our YouTube channel: https://youtu.be/W-t1v-u-iAg 


    Jim's Twitter: https://twitter.com/jposhaughnessy  O'Shaughnessy Ventures: https://www.osv.llc 
    Jim's Podcast: https://open.spotify.com/show/7yAAsaj77q3jQLbX8NAQ7J?si=950606434743485f 


    00:00 Teaser
    01:05 Intro
    03:30 The Great Reshuffle / investment in Odin
    11:01 O'Shaughnessy Ventures
    19:53 What Jim looks for in startups
    26:21 Autonomy and accountability in portfolio companies
    33:37 Psychological biases & improving decision-making
    40:20 Meme culture and human nature
    53:07 Wealth creation
    1:04:25 What's driving Jim?
    1:08:47 Message from Jim

    -

    Get in touch with us:

    Our website (all essays and podcasts): https://rationalvc.com 
    Our investment fund: https://rational.fund 
    Cyrus' Twitter: https://twitter.com/CyrusYari 
    Iman's Twitter: https://twitter.com/iman_olya 

    -

    Disclaimer: The materials provided are solely for informational or entertainment purposes and do not constitute investment or legal advice. All opinions expressed by hosts and guests are solely their own opinions and do not reflect the opinion of their employer(s). No copyright infringement intended.

    #venturecapital #investing #startup

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    1 時間 11 分
  • #047 - Jonny Blausten: Sprout CEO, democratising venture capital, from consulting to running startups, content creation and future of VC
    2023/05/03

    Jonny is the CEO and Co-Founder of Sprout: an investment platform curating access to Venture Capital deals for private investors. We discussed numerous topics. Check the timestamps below for topics and enjoy the audio, or you can watch the video over on our YouTube channel:
    https://youtu.be/wXWu552WyVE

    Jonny's LinkedIn: https://www.linkedin.com/in/jonathan-blausten-b5178141/?originalSubdomain=uk
    Jonny's personal Twitter: https://twitter.com/JBlausten
    Jonny's GunnerPunner Twitter: https://twitter.com/gunnerpunner
    Sprout website: https://www.viasprout.com/

    00:00 Teaser
    01:18 Intros
    04:19 Jonny's background
    05:50 Jonny's early startups
    12:32 Jonny's parents & real estate
    16:02 Corporate life is charlatanism?
    33:26 Sprout intro
    36:39 Sprout in depth - the problem of access to the best deals
    44:33 Sprout's vision and competition
    48:37 UK vs US investors
    52:06 Sprout community & education
    57:42 VC fund access for retail investors
    1:03:13 Sprout's 10 T's (assessing VC funds)
    1:10:13 Why do VC funds fail and biases
    1:17:19 Sprout's monetisation 
    1:20:52 Future for Sprout
    1:25:25 Why is VC hard?
    1:28:50 VCs are charlatans?
    1:33:50 VC fund skillset diversification
    1:45:24 Future of VC & solo GPs
    1:54:35 Content creation & side hustles
    2:06:48 Jonny's values & principles 
    2:15:22 Ending thoughts

    -

    Get in touch with us:

    Our website (all essays and podcasts): https://rationalvc.com 
    Our investment fund: https://rational.fund 
    Cyrus' Twitter: https://twitter.com/CyrusYari 
    Iman's Twitter: https://twitter.com/iman_olya 

    -

    Disclaimer: The materials provided are solely for informational or entertainment purposes and do not constitute investment or legal advice. All opinions expressed by hosts and guests are solely their own opinions and do not reflect the opinion of their employer(s). No copyright infringement intended.

    #sprout #JonnyBlausten #VentureCapital

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    2 時間 21 分