Risk has been on my mind this year. For Democrats, the question of whether Joe Biden should drop out was really a question about risk – the risk of keeping him on the ticket versus the risk of the unknown. And it’s hard to think through those kinds of questions when you have incomplete information and so much you can’t predict. After all, few election models forecast that Kamala Harris would have the kind of momentum we’ve seen the last few weeks.

Nate Silver’s new book, “On the Edge: The Art of Risking Everything,” is all about thinking through risk, and the people who do it professionally, from gamblers to venture capitalists. (Silver is a poker player himself.) And so I wanted to talk to him about how that kind of thinking could help in our politics – and its limits.

We discuss how Harris is performing in Silver’s election model; what he means when he talks about “the village” and “the river”; what Silver observed profiling Peter Thiel and Sam Bankman-Fried, two notorious risk-takers, for the book; the trade-offs of Harris’s decision to choose Tim Walz over Josh Shapiro as a running mate; and more.

This episode contains strong language.

Mentioned:

The Contrarian by Max Chafkin

“Nancy Pelosi on Joe Biden, Tim Walz and Donald Trump” by The Ezra Klein Show

Book Recommendations:

The Hour Between Dog and Wolf by John Coates

The Making of the Atomic Bomb by Richard Rhodes

Addiction by Design by Natasha Dow Schüll

Thoughts? Guest suggestions? Email us at [email protected].

You can find transcripts (posted midday) and more episodes of “The Ezra Klein Show” at nytimes.com/ezra-klein-podcast. Book recommendations from all our guests are listed at https://www.nytimes.com/article/ezra-klein-show-book-recs.

This episode of “The Ezra Klein Show” was produced by Rollin Hu. Fact-checking by Kate Sinclair and Mary Marge Locker. Our senior engineer is Jeff Geld, with additional mixing by Efim Shapiro and Aman Sahota. Our senior editor is Claire Gordon. The show’s production team also includes Annie Galvin, Michelle Harris, Elias Isquith and Kristin Lin. Original music by Isaac Jones. Audience strategy by Kristina Samulewski and Shannon Busta. The executive producer of New York Times Opinion Audio is Annie-Rose Strasser. Special thanks to Sonia Herrero.

Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.