The Role of Luck

Luck dominates our lives.

It starts with where and to whom we were born.

Luck is central in professions like finance and tech.

Who we meet, work with, marry—it plays a larger role than we would like to admit in all kinds of areas in our lives.

That may seem like a bleak prospect. Luck determines our life?

But accepting that luck plays a central role in our lives gives us opportunity.

We can choose a profession with better understanding of the risks and benefits.

We can pursue things that increase our upside—publishing online, or joining a startup.

We can manage our downside risk—avoiding financial ruin and risky behaviour.

Accepting that luck plays a big role in our lives doesn’t diminish our competence.

It merely helps us focus our competence on the right things.