THE RISK PARADOX

A wide-ranging manual focuses on risk-taking.

Ying and Schneider interviewed 102 people in order to understand the role that risk-taking has played in their lives. As they put it, they intentionally cast a wide net: introverts, extroverts, men, women, rich, poor, immigrants, natives, and a wide range of “backgrounds, personalities, geographies, motivations, and circumstances” in order to discover the “secret sauce” that’s common to all. This study eventually led them to what they call “the Risk Paradox”: “Taking a risk is the least risky thing that you can do to live a fulfilling life.” They break down their raft of interviews for common threads and standout insights, which they hesitate to call rules and instead opt for the term “Livewiths.” For example, Livewith Two describes how even when people take extraordinary risks, they tend to focus on what they might lose by not taking that gamble rather than the downsides of the act itself. In addition to the what, they also pursue the who, breaking down certain archetypes of risk-takers, from the Idealist and the Liberator to the Adventurer and the Seeker. Seekers “took significant risks in their search for meaning, including letting go of established reputations and valued relationships that became obstacles to their search.” The authors are adept at conveying the individual stories behind those 102 interviews (like that of Fred Crosetto, who moved to Taiwan after college to start his own company). Their clear, accessible writing style is inviting, despite the large number of truisms in their “Lesson Learned” bullet points (“Risk is only a deterrent when one has something to lose”). The risk-averse—in business or life—will find these tales very motivating.

A thought-provoking and readable field guide to risks and the people who take them.