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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:

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