Where's the underlying value?
The real question:

“Are some things objectively more attention-worthy than others?”

If yes — there’s the underlying value.

The answer: Yes

“Black elephants” are things that have been publicly known for a long time, just disregarded, that suddenly happen and get called “black swans.”
But it's not a black swan — it was there the whole time, we just weren’t looking.
The spread of COVID is a perfect example. Millions of people knew COVID was 1) important and 2) coming to America in January 2020. But the New York Times didn't sound the alarm until mid-March.
  • How many lives could have been saved if the American public had been paying attention to the best amateur journalists instead of the worst professionals?
  • How many trillions of dollars of unnecessary economic damage?
The cost of those losses is the value lost to poor attention allocation.
Attention management = risk management.
Last modified 6mo ago