
There’s a concept I like to call HILP (High Impact Low Probability).
I consider an event or activity to be HILP when it has the potential to drastically alter your life, but whose chances of occurring are exceedingly rare. In other words: High Impact, Low Probability.
An example of a positive hilp is, say, becoming an overnight millionaire from some phone app you created a la “Flappy Bird.” It’s a life-changing event, but not one you can count on.
An example of a negative hilp might be having your business wiped out by the 2008 subprime mortgage crisis. Again, transformative in scale, while being rare and unpredictable.
I can think of at least 2 applications for this concept:
