s, looking for exceptions, making sure all risks have been accounted for or making sure that the right people are brought into the decision. Banking. It's just banking. That was the story. That's the only thing we know. Now if it turns out that there are other facts that come out that's another story but the story we know is that banking happened. That's it. That's all we know. Alright a little too much on that.

There's a story up in The Atlantic I think I tweeted it around yesterday that apparently researchers tried to figure out if people are good at predicting and they tried to figure out if people who are experts in a topic are better at predicting what the future will be in that topic. Now what do you think they found out? Is it true that experts in a topic are better than average, better than just someone else at predicting what will happen? And the answer is nope they're not. No difference at all. So then they did another, they did more research and they found out that the people who were best at predicting had, wait for it, wait for it, good talent stacks. Now the article doesn't use my term for it but a talent stack, an idea I introduced in my book "How to Fail at Almost Everything and Still Win Big," is the idea that if you have a little bit of knowledge on a bunch of different fields you're better at predicting. That's really my primary message in that book is that you have a better understanding of your world including being able to predict what happens if you have a broad set of experience.

So for example someone who knows just science would be handicapped compared to somebody who knows science but they also have a business background or they also have a philosophy background or they also have a history background or an artist background. So any kind of breadth of experience allows you to see around corners better than if you're in a silo and you're really good at one. How is this important? Well I'll tell you. So somebody asked me the name of the book again. My book that all this came from, the idea of talent stacks, is "How to Fail at Almost Everything and Still Win Big." You don't need to remember the name of the book. Just remember my name and "how to fail." Alright it's a long title so if you look for my name and my books you'll find it. If you look for "how to fail" you'll find it. That's it.

Now here's the good news. The good news is that my upcoming book "Loserthink" is a deeper dive on what you should know about each field to make you better at understanding your world. In other words I'm gonna take you for a tour about what a historian would know, you know how an artist would look at things, how an economist would look at things. But I'm not going to teach you those disciplines. I'm just going to teach you the key things that people learn, the big-picture stuff so that you'll instantly, instantly after you read the book be able to see how the world looks through a variety of filters instead of just one. So if you want to see the world through more than one filter this gives you a preview of those other filters so you can see around objects. You can see the future a little better. And I was very happy to see that this research completely agrees with the notion that if you have wider experience you don't have to be an expert. You just have to know a few of the facts about you know how economists see the world. I give you an example. So here's just the smallest example. If you had never heard of the idea of sunk costs, economists all know what a sunk cost is. It means you've already spent a lot of money here but your next decision should not account for the fact that you spent a lot of money already. You should treat money that you've already spent as if it's gone and it's a new decision today whether to spend more money on that same thing. Now that's an economist's way of viewing the world which an artist might not think of. An artist might say man I've already put a million dollars into this I'd bette