Personal Highlights:

• Paying a surcharge is out-of-pocket, whereas not receiving a discount is a “mere” opportunity cost.
• People think about life in terms of changes, not levels. They can be changes from the status quo or changes from what was expected, but...
• Merely having a place where these pieces are stored in a folder on my computer labeled “outtakes” has been enough to reduce the pain of...

Personal Highlights:

• I’d rather be dumb and antifragile than extremely smart and fragile, any time.
• Sensitivity to harm from volatility is tractable, more so than forecasting the event that would cause the harm.
• And we can almost always detect antifragility (and fragility) using a simple test of asymmetry: anything that has more upside than downside from random events...

Personal Highlights:

• Information is costly to produce but cheap to reproduce.
• You must price your information goods according to consumer value, not according to your production cost.
• Providers of information on the Internet can exploit the same strategy: investors now pay $8.95 a month for a Web site that offers portfolio analysis...

Personal Highlights:

• what makes our planet special is not that it is a singularity of matter or energy, but that it is a singularity of physical order, or information.
• We will learn about the natural, social, and economic mechanisms that help information rebel against entropy.
• Information is not a thing; rather, it is the arrangement of physical things. It is physical order, like what distinguishes different shuffles of a deck of cards.