Preserving optionality is one way to mitigate risks in decision making by allowing for the ability to exit or choose a different path. However, new information may reveal itself in the future that may influence a change in decision making.
The speaker tells a story about a risky situation they were in when someone they were working with wanted to sell them cars without proper paperwork. They eventually hired a taxi driver to get away from the situation safely.
The importance of knowing absolute risk versus relative risk is discussed in various contexts, such as in precision shooting and understanding medical studies.
In this podcast, the host explores global societal risks and risk management with professionals who have a stake in the game, including poker players and sports bettors.
