Hello, I’m Prashik and welcome to a “Prashik’s Newsletter. Each week I write something interesting about life, books, podcast, my learnings etc
Never Take Opinion From The Person Who Is Not Exposed To Any Risk For His Opinion. 💡
Never ask anyone for their opinion, forecast, or recommendation. Just ask them what they have - or don't have in their portfolio. - Antifragile
Everything in this world costs money! Except for one thing and that, is opinions.
Opinions are free!
And its supply is never-ending. It doesn't matter if you want it or you don't want it.
By the way, today I am not going to discuss the opinion which you don't care about.
But rather, the opinion on which you rely in your life and how to judge the credibility of the opinion.
Let's get to the point.
I have one simple rules to judge the credibility of any opinion.
Check what risk does the person expose to while giving the opinion. Or What risk he/she has taken in the past to come to any conclusion.
Let's try to understand this by one simple example.
Let's say you want to know which industry you should start your new business in, and for that, you go to someone who has invested a lot of money in different industries.
And if, person suggest you, to invest in the "X" industry.
The first thing you should try to gauge is how much money he has invested in that industry.
If the answer is "Zero" then, you should not give a lot of importance to the person's opinion.
It doesn't matter how intellectually he talks, what data point he shows to prove that this will be the next big thing.
To check the credibility of the opinion, check for below parameters. 👇
If the person is ready to lose money for his opinion. ( Exposed to financial risk)
If the person is ready, put his credibility at stake ( Taking a public stand)
If the person is exposed to all different risks. ( Check for different types of risks)
If someone is not ready to take any risk for his opinion then, leave it.
Here is one simple example related to our country.
A few months before, when pregnant elephant was killed by firecracker hidden in pineapple in South India there were lot of outrage against the incident.
Many celebrities jumped in, saying how cruel we have become—and taking a stand for the betterment of animals.
It's good that people came forward and talk against that cruelty.
But the real problem is, there is no way to judge how many of these celebrities were genuine!
Because there is no risk involved in standing for that Elephant!
You offend no one when you stand for animal welfare.
If you were little aware, you must have realized that the same celebrities hardly show thier displeasure about cruelty against Dalits & Women in this country.
As if they choose to do so, they will be exposed to the risk of offending the government where the incident has happened.
That's why celebrities' opinion without any risk involved is just a plain PR exercise & we should not take them very seriously.
The same applies to our life.
Just because a person is your closest friend, wife, husband, father, mother, learned professor, intellectual... etc., don't blindly follow or accept his opinion.
Always check if the person is exposed to any risk! If not, leave it.
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