Those who manage to survive - due to pure luck, merely ascribe their misfortune to a "Black Swan" event - extremely rare and totally unpredictable; and then they start all over again, until such time as they implode.
Taleb's "Fooled by Randomness" in two paragraphs. Human history in one blog post.
Taleb's "Fooled by Randomness" in two paragraphs. Human history in one blog post.