Rogue Waves summary

You may be wondering: Is it even possible to prepare for something as unpredictable as a rogue wave? 

Fortunately, the answer is yes. It turns out those hundred-foot swells that take sailors by surprise don’t come out of nowhere. Scientifically speaking, rogue waves are actually formed by the collision of smaller waves. In other words, they aren’t random at all. 

Which vessel would you rather be on when a rogue wave strikes: a cruise ship or a kayak? 

At first, the answer might seem obvious. Cruise ships are massive vessels made of high-strength steel and metal, built for the exact purpose of crossing the open ocean. Meanwhile, kayaks are made of plastic and practically microscopic in comparison. 

Through risk modeling, companies can forecast the probability of a specific event happening – and its potential severity. Ready to see the power of risk modeling in action? Let’s look at one of the world’s most lucrative and resilient businesses: Amazon. 

Unlike many online retailers, Amazon was able to sail through the rogue wave of COVID-19 with soaring profits – swiftly meeting increased demand and emerging as one of the biggest winners of 2020.

To increase your company’s resilience as much as possible, you need to instill a culture of constant innovation. Sound easier said than done? Well, for inspiration, let’s look at a seasoned entrepreneur and computer scientist named Astro Teller. 

Teller leads innovation at X, the advanced research lab of Google’s parent company, Alphabet. Renowned for its cutting-edge reputation, Alphabet is a trillion-dollar enterprise, and Astro is responsible for doubling its valuation. The secret to his success is simple: by encouraging its employees to be creative, Alphabet has enabled Astro to build a portfolio of trailblazing experiments. 

Now that you know what to do when you find yourself in stormy seas, let’s have a look at a famous story that illustrates what you should avoid at all costs. 

It was a chilly night way back in 1912, and the Titanic had just crashed into a massive iceberg at full speed. But captain John Edward Smith, blinded by hubris, believed he was at the helm of an unsinkable ship. It wasn’t just that the Titanic crew had never prepared for disaster – they actually thought they were above such a thing. As a result, there weren’t enough lifeboats for all the passengers on board. What’s more, the lifeboats that were launched were only partially filled – and some weren’t launched at all.