When you get drunk you tend to walk in a random way…

So, when writing a book about how random events rule our personal and business lives, Leonard Mlodinow came up with the perfect title: ‘The Drunkard’s Walk’.

Mlodinow presents compelling evidence on how lacking we are when it comes to understanding real life probability and randomness.

While probability may seem simple enough on the surface, the complex world that we live in is a web of randomness that could never be fully untangled or understood.

There are many things in life that are misunderstood, but there’s one subject matter that outstrips all else in its impact on us, randomness.

Unfortunately, we are inherently bad at understanding randomness and we look deep into everything to see if we can work out any sequences.

Which is why the saying ‘The bookie always wins’ is true most of the time.

Misunderstanding the effects of randomness are wide-ranging, potentially catastrophic, and difficult to detect.

And according to Mlodinow, randomness and probability are inherent in every single decision we make, whether we realise it or not.

Mlodinow deploys various examples in the book, but my favourite is his prologue, where a guy won the Spanish lottery with a ticket ending in the number 48.

He said. “I’d dreamt about the number 7 for 7 straight nights, and that 7 x 7 is 48”. Random indeed.

It’s an interesting read and taught me several things about how random events can affect business.

‘The Drunkard’s Walk’ gets a 👍 and ⭐⭐⭐⭐

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