Participants call this financial independence-I call it financial dependence. The hope is to “retire early” and continue living the same frugal existence based on presumed growth rates and systematic withdrawals. With a ten-year bull-market behind us, this movement is based on the compound interest scamP6-living frugally during your youthful working years while saving and investing most of it in the stock market. Similarly, the new buzzword worthy of clickbait headlines on financial websites nowadays is this concept called FIRE-or Financial Independence Retire Early. The catastrophe is not easily seen: getting stopped by police and thrown into jail for months, perhaps years. For instance, if you’re speeding on the interstate from Colorado into Kansas with a broken taillight and a pound of weed in your trunk, your DARE is asymptomatic and very asymmetrical. However, the real danger of DAREs are risks that are hidden or not easily forecasted-or asymptomatic risk. Remember, as Unscripted entrepreneurs, we’re trying to manipulate probability and have asymmetry work for us, not against us. His upside was some likes and comments from anonymous strangers on YouTube his downside was losing his career and life savings. Remember that medical-device CFO who thought he would video himself chiding a Chick-fil-A employee at a drive-in window? A DARE loaded the gun. Play Russian Roulette with a loaded gun, you are whenever you make poor choices. While there’s a decent chance you can escape the consequences of your poor choice, there’s also a chance you’ll blow your head off. Whenever you fail to identify a DARE, which could be a literal dare: I dare you to jump off the cliff, I dare you to eat the whole bag of marijuana gummies, you’re playing Russian Roulette. Remember, one poor decision can invalidate thousands of good ones. The risk of this action (street racing) and its outcomes are disastrously asymmetrical. The downside is catastrophic and lasting, perhaps eternal. Ten seconds of fun, eh? The downside is I crash and kill myself. When I’m street-racing on a crowded city street in a car sauced with nitrous, my upside is a fleeting burst of adrenaline and a superficial ego boost. It is a failure at consequential-thinking. A Downside Asymmetric Risk Event is when your choices have best ndworst-case consequences that are unevenly skewed negatively: minimal upside, colossal downside. If you haven’t noticed, asymmetry is a big theme behind a great rat race escape.
In hindsight, I failed to recognize a DARE, or a Downside Asymmetric Risk Event. I throttled hard, spun out, and crossed into oncoming traffic, broad siding a tree. What happened? With a hot ego and lowered inhibitions, I thought I’d street-race a throaty Mustang. Five minutes later, my car was wrapped around a twenty-foot date palm, destroyed. I hopped into my 850-horsepower Viper and started the drive home. Eye contact, engaged conversation, a few hair-flips my ego was surging with confidence. I’d just met a woman on an internet date, and the meeting went fantastic. I'm going to post the chapter here for your reading.Īgain, I wasn't sure if I should post this but then thought, if this thread can SAVE ONE LIFE (and many others) then it is worth it.ĭ.A.R.E stands for "Downside Asymmetric Risk Event" - here is the chapter.Īfter three vodka tonics, I felt light and free. how 1 bad choice can erase 100s of good choices, and irrevocably change your life forever. I called it a Downside Asymmetric Risk Event. This was a topic in my recent book and had its own chapter. And if it saves lives, it will save a lot of other lives from the tragedy and turmoil that will certainly follow - not just for the victim and his family, but the person who made the poor choice. While it is difficult for me to write this post, it needs to be done because it just might SAVE LIVES. In short, many lives have been destroyed due to ONE POOR DECISION. The result of this poor decision was someone was killed, and this person arrested and possibly charged with some serious offenses. In short, alleged drunk driving and driving the wrong way on a freeway. It has come to my attention that a forum member with some pretty good post history was recently involved in a tragedy that resulted in the death of innocent person due to this person's alleged negligence.
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