Eric, really interested in how you pick the things you work on. I'm a really big fan of the concept of the Long Term Stock Exchange, but projects like that seem to me at times like paddling a canoe upstream using a spoon.
Whats your criteria? Is there an analytical component? Are you willing to work on something even if "success" is unlikely? And with all of this going on how do you have time to work on books!
thank you for your work by the way. It continues to be useful year after year to me and people around me!
I tend to use the metaphor of trying to carve the Grand Canyon with nothing more than water and gravity, but I appreciate you honoring and acknowledging the difficulty of this.
Honestly, I don't have formal criteria. I have young kids now, and I try to ask myself every once in a while, when they're old enough to really understand what I do for a living. When they ask me: "at that moment in history, what were you doing?" I want to be able to answer them and give them an answer that I and they will find satisfying.
I'll also be honest that I've my fill of conventional "success" in my life. I don't feel obligated to use the likelihood of success as a criterion anymore. I tend to just do the things that, in the moment, seem right to me. Or where it seems like, for whatever reason, no one else is willing or likely to try it, and I have been given that lonely assignment.
Many of the things that I've tried haven't worked out, but that's okay. I accept that that is a precondition of the kind of work I like to do.