Extreme events and how to live with them by Nassim Nicholas Taleb

24:28
is you know okay so there is a severe
error in reasoning and that that you
often hear by people giving you
empirical data and telling you for
example that were idiots to worry about
Ebola that killed two Americans when
more people slept with Kim Kardashian
that year okay so for example and that
was effectively the number they said
that more people slept with Kim
Kardashian in 2014 or worried about
Ebola then died of Ebola for example
right so now and then sometimes you see
numbers like these and this is the kind
of thing that that if you read something
called the New York Times and you still
read that nonsense this kind of stuff
you read in it which is factually right
but bogus okay well and the kind of
thing that teaches and psychology
department that so many Americans die
from eating too many hamburgers smoking
too much alcohol now let’s think about
it in terms of tails if I tell you or
let’s say Steven Pinker give the number
that 3,000 Americans died and their
bathtub every year
okay 3,000 people whereas three or two
have died of Ebola now let’s play
thought experiment if you read in the
papers if you go you know to Mars and
come back
and then read on you know on Google News
that two billion people have died what’s
more likely to have killed them diabetes
obesity is falling the rest stop
sleeping with Kim Kardashian or Ebola
Ebola there we go so you cannot compare
rule number one
thou shalt not compare a multiplicative
fat-tailed process in extremists and in
the sub-exponential class to a thin tail
process that has what we call Chernoff
bounds okay and that is in totally for
mediocre stuff simply because of the
catastrophe principle okay and then we
know for example that is very cheap to
protect yourself from Ebola you see the
probability that people dying from
smoking okay it’s multiplied by 10 next
year is 1 to the 10 – into 10 – 30 the
probability that that the the rate of
people who died from Ebola through
triples is not vastly higher you see so
you cannot compare processes thin tail
to fat tails are not comparable so this
is not empiricism this is called naive
ampere system it’s actually worse okay
so you cannot compare two processes like
these by saying we worry too much about
Ebola in fact we were too much about
diabetes and too little valley bola so
that’s one error of reasoning that comes
from not understanding fat tails now let
me show you the law of large numbers
everything you’ve learned in statistics
is based on a well functioning of a law
of large numbers no all right so in
other words you that as you add
observation this mean that you observe
would be very stable no and the rate is
square root of 2 square root of n number
of observations you agree all right
this is what you have on the left now on
the right for fat tail process the mean
exists but it takes much longer to
observe it
28:10
much longer my only my anymore
28:13
observations okay

Still Standing, Jared Kushner and Ivanka Trump Step Back in the Spotlight

  • They disappointed climate change activists who thought they would keep President Trump from leaving the landmark Paris accord.
  • They enraged Democrats and even some Republicans by not pushing back against his immigration policies, and
  • alienated business allies by their silence over threats to Nafta. They regularly faced news stories about their unpopularity.

Even their relationship with the president seemed to suffer.

Several times Mr. Trump joked that he “could have had Tom Brady” as a son-in-law. “Instead,” the president said, according to five people who heard him, “I got Jared Kushner.”

.. It did not help that the president had gone from telling aides to “talk to Jared,” as he did during the campaign, to telling them that “Jared hasn’t been so good for me.”

.. At various points, Mr. Trump told friends and his chief of staff, John F. Kelly, that he wished both Jared and Ivanka would return to New York.

.. It was only in May that Mr. Kushner had his security clearance restored

.. “I think they felt in some ways when things escalated that they thought it was best to keep a lower profile and hone in on their specific policy areas,” said Sarah Huckabee Sanders

.. once said that she did not intend to stay in the capital long enough to become one of its “political creatures” — people she feels are “so principled that they get nothing done,”

.. home is now in Washington, where their children attend Jewish schools and their house is routinely watched by papraazzi as they depart for work or go for a run. 

.. As for separating immigrant families, she added, “How do they sleep at night?”

.. In response to critics like Ms. Rosen, the couple have argued that they can temper Mr. Trump only if he is willing to listen.

.. Mr. Kushner has convinced the president that criminal justice reform is worthwhile, even as his attorney general remains a vocal opponent.

.. Mr. Kushner has shown an adeptness at using the president’s impulses to steer him toward his own priorities. When Mr. Kushner ushered Kim Kardashian West into the Oval Office to speak about commuting the life sentence of an African-American woman named Alice Marie Johnson, Mr. Trump ignored the concerns of his advisers and freed Ms. Johnson, dazzled by his power to grant clemency and Ms. Kardashian’s celebrity.

.. Her supporters argue that she is in an untenable situation if she speaks out in public. Her father said she had addressed the issue with him privately, further inflaming her critics.

.. Mr. Kushner appears to see himself as the custodian of Mr. Trump’s political brand, offering his father-in-law “options,” and has spoken about clearing out the Republican Party of lingering resistance. He has privately said that he has been taking action against “incompetence” and that any tensions are a result of fighting for his father-in-law’s best interests.

.. His detractors say the friction stems from Mr. Kushner’s meddling in things for which he is out of his depth, like when the president, following his own preference, huddled with Mr. Kushner and Ms. Trump instead of his top policy advisers before his meeting with the North Korean leader, Kim Jong-un.

.. Ms. Richards wrote in a memoir that they had offered her a deal that felt like a “bribe” — continued federal funding for the group in return for a halt to providing abortions.

.. Inside the White House, the couple’s influence is most felt in internal battles, particularly with aides they do not regard as loyal to their mission — or Mr. Trump’s.

.. That is particularly true of Mr. Kushner, who, critics say, shares his father-in-law’s desire for control. Over the course of Mr. Trump’s campaign and presidency, Mr. Kushner has been seen as trying to undercut or as being at odds with a long list of aides — some who remain, many who have left.

The list includes:

  • Mr. Trump’s first campaign manager, Corey Lewandowski;
  • his first chief of staff, Reince Priebus, and his associates;
  • his former chief strategist, Stephen K. Bannon;
  • Donald F. McGahn II, the White House counsel;
  • the White House counselor, Kellyanne Conway;
  • the first head of the presidential transition, Chris Christie;
  • the former secretary of state, Rex W. Tillerson;
  • Mr. Trump’s former personal lawyer, Michael D. Cohen, and
  • his longtime lawyer Marc E. Kasowitz.

Their privileged permanence as family members has allowed them to outlast other aides in an environment where expectations have been shifted and, at times, lowered on their behalf.

.. Both husband and wife, like Mr. Trump, are said to hang on to grudges, but Mr. Kushner is far more transactional than his wife. Like his father-in-law, he appears to convince himself that fights did not happen if someone has become useful to him.

.. A persistent obstacle to both Mr. Kushner and Ms. Trump is Mr. Kelly, whose approach to security clearances they feel unfairly targeted them, and who, they have confided to associates, they believe has spread negative information about them.

.. Though they have insisted that they are not trying to play a role in a succession plan for Mr. Kelly, few West Wing staff members believe that.

.. Both Ms. Trump and Mr. Kushner are widely believed to support Nick Ayers, the chief of staff to Vice President Mike Pence, as Mr. Kelly’s successor.

..

Whoever the replacement is would join a new set of aides who — many with the couple’s support — have replaced the familiar faces from the 2016 campaign.

When

  • Bill Shine, the former Fox News executive, was preparing to join the White House, Mr. Kushner, with Ms. Trump’s support, gave him their stamp of approval. It was Mr. Kushner and Ms. Trump who wanted
  • Mercedes Schlapp, a well-connected Republican consultant, brought into the administration. Mr. Kushner’s ally
  • Brad Parscale became the 2020 campaign manager, a move Mr. Kushner told the West Wing staff about on the morning it was publicly announced.

And they regard Stephen Miller, a supporter of some of Mr. Trump’s harshest stands on immigration, as a walking policy encyclopedia.

.. In June, when the United States won its joint bid with Canada and Mexico to host the World Cup in 2026, Mr. Kushner’s team made sure to tell reporters that it happened in part because of the efforts of the president’s son-in-law, who reportedly used some of his international contacts to win enough votes to seal the bid.

.. Ms. Collins found in Ms. Trump what many Republicans most desire: a direct line to a president sometimes at odds with his own party.

.. Ms. Trump has delivered one of the few things she can uniquely accomplish in Washington: Riding in a car together one day, she handed Ms. Collins a phone. The president was on the line.

Donald Trump, a Playboy Model, and a System for Concealing Infidelity

One woman’s account of clandestine meetings, financial transactions, and legal pacts designed to hide an extramarital affair.

.. At the time of the party, Trump had been married to the Slovenian model Melania Knauss for less than two years; their son, Barron, was a few months old. Trump seemed uninhibited by his new family obligations. McDougal later wrote that Trump “immediately took a liking to me, kept talking to me – telling me how beautiful I was, etc. It was so obvious that a Playmate Promotions exec said, ‘Wow, he was all over you – I think you could be his next wife.’ ”

.. Purchasing a story in order to bury it is a practice that many in the tabloid industry call “catch and kill.” This is a favorite tactic of the C.E.O. and chairman of A.M.I., David Pecker, who describes the President as “a personal friend.”

.. Six former A.M.I. employees told me that Pecker routinely makes catch-and-kill arrangements like the one reached with McDougal. “We had stories and we bought them knowing full well they were never going to run,”

.. George said that Pecker protected Trump. “Pecker really considered him a friend,” George told me. “We never printed a word about Trump without his approval.”

.. Pecker also used the unpublished stories as “leverage” over some celebrities in order to pressure them to pose for his magazines or feed him stories. Several former employees said that these celebrities included Arnold Schwarzenegger, as reported by the Los Angeles Times, and Tiger Woods.

.. McDougal wrote that Trump impressed her. “I was so nervous! I was into his intelligence + charm. Such a polite man,” she wrote.

..  All three women say that they were escorted to a bungalow at the hotel by a Trump bodyguard, whom two of the women have identified as Keith Schiller.

.. Over the course of the affair, Trump flew McDougal to public events across the country but hid the fact that he paid for her travel. “No paper trails for him,” she wrote. “In fact, every time I flew to meet him, I booked/paid for flight + hotel + he reimbursed me.”

.. In July, 2006, McDougal joined Trump at the American Century Celebrity Golf Championship, at the Edgewood Resort, on Lake Tahoe. At a party there, she and Trump sat in a booth with the New Orleans Saints quarterback Drew Brees, and Trump told her that Brees had recognized her, remarking, “Baby, you’re popular.”

.. During the Lake Tahoe tournament, McDougal and Trump had sex, she wrote. He also allegedly began a sexual relationship with Clifford at the event.

.. Another adult-film actress, whose screen name is Alana Evans, claimed that Trump invited her to join them in his hotel room that weekend. A third adult-film performer, known as Jessica Drake, alleged that Trump asked her to his hotel room

.. During Trump’s relationship with McDougal, she wrote, he introduced her to members of his family and took her to his private residences. At a January, 2007, launch party in Los Angeles for Trump’s now-defunct liquor brand, Trump Vodka, McDougal, who was photographed entering the event, recalled sitting at a table with Kim Kardashian, Trump, Donald Trump, Jr., and Trump, Jr.,’s wife, Vanessa, who was pregnant. 

.. At one point, Trump held a party for “The Apprentice” at the Playboy Mansion, and McDougal worked as a costumed Playboy bunny. “We took pics together, alone + with his family,” McDougal wrote. She recalled that Trump said he had asked his son Eric “who he thought was the most beautiful girl here + Eric pointed me. Mr. T said ‘He has great taste’ + we laughed!”

.. In Trump Tower, McDougal wrote, Trump pointed out Melania’s separate bedroom. He “said she liked her space,” McDougal wrote, “to read or be alone.”

.. McDougal’s account, like those of Clifford and other women who have described Trump’s advances, conveys a man preoccupied with his image. McDougal recalled that Trump would often send her articles about him or his daughter, as well as signed books and sun visors from his golf courses.

.. Trump also promised to buy McDougal an apartment in New York as a Christmas present. Clifford, likewise, said that Trump promised to buy her a condo in Tampa. For Trump, showing off real estate and other branded products was sometimes a prelude to sexual advances.

.. The decision was reinforced by a series of comments Trump made that McDougal found disrespectful, according to several of her friends. When she raised her concern about her mother’s disapproval to Trump, he replied, “What, that old hag?” (McDougal, hurt, pointed out that Trump and her mother were close in age.)

.. friend mentioned a relationship she had had with an African-American man. According to multiple sources, Trump remarked that the friend liked “the big black dick” and began commenting on her attractiveness and breast size. The interactions angered the friend and deeply offended McDougal.

..Crawford said, referring to Trump. “I said, ‘You know, if you had a physical relationship with him, that could be worth something about now.’ And I looked at her and she had that guilty look on her face.”

 

When Would You Stop Loving America?

Every country does have ideals. But the specifics matter. It’s a bit like saying every human has talents — sure, but some talents are greater than others. A great composer and a great armpit-farter may be equally rich in their degree of talent, but not in the quality or desirability of their talents. I

Are our ideals really no better than any other country’s? Are they worth defending only because they are ours?

.. And Rich was of course a full throated yes. He then went on to say that he’s coming around to the idea that “there’s no such thing as a bad nation, only bad governments.”

.. What if America just had the social and political priorities of Sweden or Norway? It’s fine to say you’d still love her, but you know what? It’s also fine to say you wouldn’t.

.. He went on to explain that as an immigrant from a decent country, what appealed to him about America most is its culture and its system of law. He conceded, grudgingly, that if we changed our ideals we’d lose some of the stuff he loves. But at the end of the day he’d still love America regardless of her ideals.

.. Rich argued for the “everybody’s special” school of patriotism and nationalism.

.. If National Review had completely different editorial positions — pro-choice, pro–gun control, etc. — would the cast of The Editors not be less in the love with National Review? The question answers itself.

.. Imagine one person tells you that his ideal form of government would be to get rid of the Constitution and make Kim Kardashian queen. You’d think that person is silly, probably even deranged. Now imagine that 270 million Americans believed that and, having the necessary supermajority to pull it off, voted away our Constitution. As the coronation of Queen Kim, First of Her Name, unfolded on every channel, would you not change your view of America, her culture, and her people? Might you not fall out of love with America as it is?

.. My hunch is Rich et al. would still love America, but you know what America they would love? The America That Was. They might even join the resistance to the regime of Queen Kim

.. They’d be fighting against the American nation in the name of that great and glorious cause, the American Idea. And that’s the crucial difference.