The Difference Between Luck And Risk

In this conversation, the speakers discuss the relationship between luck and risk in decision-making. They suggest that luck and risk are often confused, and that by making certain decisions, individuals can reduce the risk of a bad outcome. They also note that decision-making is a crucial aspect of life, yet it is not often taught in schools. The speakers suggest that more attention should be paid to decision-making education, such as teaching statistics and probability. They argue that while humans have evolved to make decisions quickly, the modern world requires more deliberative thinking, and individuals should learn to recruit System 2 thinking to make better decisions.