"A Yuuuge agency problem in journalism: they care abt journalists far more than other pple. Saudi Barbaria does Sept 11, blows up & ethnically cl… - Nassim Nicholas Taleb

Journalists are currently in the most insecure profession you can find: the majority live hand to mouth, and ostracism by their friends would be terminal. Thus they become easily prone to manipulation by lobbyists, as we saw with GMOs, the Syrian wars, etc. You say something unpopular in that profession about Brexit, GMOs, or Putin, and you become history. This is the opposite of business where me-tooism is penalized.

at any point in time, the richest traders are often the worst traders. This, I will call the cross-sectional problem: At a given time in the market, the most successful traders are likely to be those that are best fit to the latest cycle. This does not happen too often with dentists or pianists — because these professions are more immune to randomness.

There is no such thing as a failed soldier, dead or alive (unless he acted in a cowardly manner) likewise there is no such thing as a failed entrepreneur or failed scientific researcher.