shokwave comments on Buy Insurance -- Bet Against Yourself - Less Wrong

29 Post author: MBlume 26 November 2010 04:48AM

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Comment author: shokwave 26 November 2010 12:25:40PM 7 points [-]

Inside view vs outside view, probably. You are looking at the myriad ways in which the system could absentmindedly crush your business; other people are extrapolating from their knowledge of previous similar cases.

Possibly it is just social convention. You have to be pessimistic about your business because it's rude to gloat, and other people have to be optimistic about your business because it's a form of well-wishing.

Comment author: TobyBartels 26 November 2010 07:29:39PM 1 point [-]

You also have to pessimistic about your business to make appropriate insurance decisions! (And not just literally buying insurance, or making side bets.)