Humans operate most effectively in small groups and within a handful of associations.  We are less concerned with the prospects for people that are outside of our network, that are far away.  This issue is most acute when we have a global crisis on our hands such as climate change.  The problem may affect all of us on this planet, but the series of solutions can only come about from small and dedicated groups.

People have an amazing ability to filter out information that provides overwhelming evidence that contradicts a closely-held opinion or group narrative.  We discuss three groups that filter information as they do not trust the government, science or overly form of control and governance.

The first stage of the risk management process, Identify, can be the hardest.  Coming up with a new risk that nobody has considered before opens up anyone to ridicule.  The art is to be as scientific and neutral as possible and use your words wisely.

Why is the airline industry so much more safe that the medical complex?  They have equivalent levels of complexity and professionalism in their doctors and pilots.  A key aspect is that one has created a no-blame culture and the other is mired in legal retribution.  In all industries, passing the blame affects the risk culture with inevitable consequences.

From an early age, children find it hard to deliver bad news and yet setbacks are the driver of how we all develop.  Failing early, picking yourself up, moving paves the road to long-term success.  And yet in many areas of activity, delivering bad news or confessing is hard to do.  For risk management, providing the details of the downside and taking corrective action differentiates the functioning teams and the losers.  Getting in the confession early gets you ahead of the narrative.  Covering up is another matter.

Why are children instantly fascinated with something that is forbidden?  Why do drivers use the speed limit as a target and now, well, a limit?  Setting limits in family life and with the public goes to a core issue of credibility and enforceability.  A lack of either and the limit is pointless, somethings making criminals of everyone.

Why would anyone want to play the lottery?  In terms of monetary value, the chances of winning millions from a one pound bet are tiny.  Even if you win money beyond your wildest dreams, is this now to the road to happiness?  No.  And for very good reason.  The podcast introduces three groups of assets we accumulate and explains that too much of one can destroy the other, creating a very poor risk reward profile.

There are two approaches to regulation that are either based on principles or on rules.  The latter leaves nothing to interpret or apply judgement.  Taking judgement away from anyone, including children by their parents or teaches has a profound negative impact as it takes away the ability to make an independent decision and well as taking responsibility of the outcome.  Questions around being in step with the rules is not the same as asking whether in its spirit we should.

Ever noticed the stress of changing lanes so that you can get through the motorway traffic faster?  Wonder why when you do change to the faster lane, it then becomes the slowest?  If so you are experiencing the anxiety of the fear of being left behind.  A fear that combined with vanity is the biggest driver for all bubble manias throughout our history.

Parenting has suffered from the tyranny of risk elimination.  Politicians say that such a failure must never happen again.  Why is it even remotely desirable to eliminate risk what it does more damage than good and is prohibitively expensive?