Episode #260: Increase Your Risk Tolerance

September 29, 2018

In poker, your bankroll represents how much money you’ve set aside exclusively to play. Former World Series of Poker champion, author and decision strategist Annie Duke says that you should always play withinyour bankroll. If you have $2,000 in your pocket but have bills and outgoings totalling $1,500 then you don’t have $2,000 to play with, you have $500, and you should not play beyond that. By playing within your bankroll you’re less likely to fall victim to the sunk cost bias - our tendency to chase our losses - or to bet more than you can afford to lose. How much are you willing to lose?

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About steve glaveski

Your host and occasional cybernetic organism, Steve Glaveski, is committed to helping people better navigate the growing uncertainty that technology change brings, in order to survive, thrive, create more value for the world and lead more fulfilling lives.

Steve is the CEO and co-founder of innovation accelerator Collective Campus, founder of children's entrepreneurship program Lemonade Stand, author of Amazon best-seller The Innovation Manager's Handbook and the Wiley book, Employee to Entrepreneur, investor in blockchain based fractional property investment platform Konkrete and is a keynote speaker and startup advisor.

When not fighting T-1000s Steve can be found in the gym, hiking, skating at the beach, attempting standup comedy, at a heavy metal show or socially lubricating at a whisky bar.

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