Walt Disney gained worldwide fame with the animated film ‘Steamboat Willie,’ but Disney’s first studio went bankrupt. By the mid-1930s, he had produced over 400 animations, most of which suffered heavy losses. In 1938, Snow White and the Seven Dwarfs made $8 million in just the first half—more than ten times the earnings of other films. Meanwhile, with this animation, the company paid overdue wages to its employees and recovered the losses it had sustained. An unusual event that changes everything is called a “tail event.” 40% of publicly listed companies in the U.S. stock market lose nearly all their market capitalization 10 years after going public. Business and investing, after all, are based on probabilities. No one knows what the “tail event” will be. Therefore, to succeed, you need to try small, steady, many times with little impact, even if you fail. - Joseph’s “just my thoughts”
The reason pencils can be writing instruments is due to pencil lead. The material used for pencil lead is graphite. The graphite element is carbon (C), and four carbon atoms are combined. One carbon atom can have four bonds and can combine with another element. Diamond is similar to graphite, with four carbon atoms. However, diamonds have four carbon bonds that create a strong covalent bond with other carbon atoms, while graphite has only one weak bond. We can write or draw with a pencil because of this loose combination. When you apply pressure to the pencil with your finger, this weak bond in graphite breaks, leaving some of the crystals damaged. Don’t view it merely as a pencil; it’s a diamond’s cousin. The degree of consanguinity is very, very close. - Joseph’s “just my thoughts”