According to Reuters, when choosing a flight, U.S. fliers apparently prefer ticket prices over air safety. In fact, recent safety issues of the Boeing 737 Max had had little impact. Only 3 percent said that aircraft or model was important when buying a plane ticket. In contrast, 57 percent said ticket price was critical.
However, Southwest Airlines passengers expressed concerns on social media after confusion over on-board safety cards led passengers to think they were flying on a Boeing 737 Max. In reality, Southwest had already grounded all 737 Max airplane and stated the safety card used can be used for more than one plane model, adding that safety procedures for the 737 Max and 737-800 are identical.
In other words, up to the point of takeoff, people were more concerned about. Unfortunately folks, at that point, it’s too late. You’re ‘all in.’ You’ve succumbed to fate.
In American usage, the phrase “all in” began as a colloquial expression meaning to be in a bad spot—exhausted, worn out, and spent. In the game of poker, it refers to the moment when a player—whether out of bravado, recklessness, or desperation—bets all of his or her chips on a single hand. The all-in moment in poker is a thrilling win-or-lose-everything crisis of dramatic clarity: you’ve wagered all you’ve got, giving your fate over to the cards, and you can’t go back out again.
“Can you drive me to my car? It’s late and I parked in an unsafe area after dark.”
“Why didn’t you park in the parking garage across directly across the street?”
“Well, the garage costs $90.00 a month,” she paused.
“And you didn’t want to pay $90.00 a month?” I interjected, finishing the sentence.
“Correct.”
Knowing the position she has at the firm, I’m fairly confident her annual salary nears $120,000 annually. Roughly speaking, she bet her life on $1,200 savings, a smidgen less than 1% of her salary.
“So, you placed savings above safety?”
“Huh?” she quipped.
“You bet personal safety for less than 1% of your salary?”
“Hey, don’t jinx me,” she snapped. Continuing, “You’ll be responsible if I get hurt.”
“Yes, I will feel bad if you get injured. However, you went ‘all in,’ not me'”
History will tell you that going all in is often a spectacularly bad idea. In life though, it seems all good. In life we hope many of poker’s words and phrases bring forth a sense of romance and drama that break the normal mundane activities of life. in many cases, we simply want to up the ante.
In life, almost everything contains some level of risk; the key to success is to identify an appropriate risk tolerance and then manage the that tolerance. In some instances, this may mean avoidance of any loss is appropriate, but in others moderate losses may be tolerable. In my friend’s case, there’s appears to little reward in gaining less than 1% reward. Sure, should she live that same routine over a decade, the reward would equal nearly $12,000. Then again, a decade of wages would net $1,200,000. The risk reward remains at 1%.
Going ‘all in.’ Wagering everything for the 1% is why Vegas almost always wins.
Pretty stupid.
