Risk Taking
A much-needed discussion to analyse what taking risk actually entails — the decisions and the repercussions.
The best words to summarise this session would be this — it was an earnest learning experience. Towards the end of the talk, the two youngest members of the group admitted to having their definitions of what risks are evolved. Despite not agreeing on what taking a risk means, the entire panel came together with a wonderful message of having faith in oneself and one’s innate ability, having love in one’s heart and chasing that which the heart yearns for — risk or otherwise.
Ranveer Singh began poignantly by noting how risk taking is a part of everyone’s day-to-day life, professionally and personally. He highlighted how career risks involve positives and negatives. According to him, professionally, risks can be dangerous if one yearns for stability. For people who yearn exploration, he said, “Choose risks. There might be some backlash. Personal growth comes with risk.” He added a sombre note, bringing in the pandemic and the unpredictability of human existence. He shared how he might have had a career in sports but he chose the safe path provided by academics. Then he noted, “We could not predict what would happen in the future (like a pandemic). Even if you take measured risks, your plans might change to fit the circumstances.”
Capt. Charanjit Lehal began by remembering his time as a member of the armed forces. He experienced fear on the inside and outside and yet, he maintained a tough facade. In his moment of fear, which he refused to acknowledge, his superior approached him and normalised feeling fear by earnestly telling the young officer about him feeling fear as well. Capt. Lehal urged us to feel fear. According to him, a good leader feels and then overcomes physical and psychological fear. He shared his son’s immigration story, “In two months, my son took a big risk when he could have chosen comfort.” He made the case of taking a risk by having faith in your decisions and ability. He succinctly noted how the line between what seems logical and stupid is incredibly thin. As time and available resources tend to be limited, he observed how good leaders help mitigate any fallout from risky actions. He concluded by observing, “The beauty of risk lies in experience. Living life to the fullest extent is a risk.”
During the discussion about the definition of risk, the first note of disagreement emerged. According to a few in the group, anything calculated and mitigated cannot be categorised as a risk. However, the group came together with this: Do what helps you live your life. Love what you do and have passion in your life.
Gautam Nath came into the discussion with stellar storytelling of an incident from his past. He recalled risks he took while serving in the Navy and he remarked on managing risk at a corporate level. He stressed upon managing risk by noting how risk, appetite for success and fear are connected. He introduced a new term, namely, considered risks. He said, “Take calculated risks to make better decisions by managing your fear.” He highlighted how given enough time; a decision that appeared risky wouldn’t be so. What made something risky was a lack of time and enough data. Good decision makers often make decisions without enough data. They do so by measuring the impact of a calculated risk. These mavericks follow their risk-seeking heart and leverage it. This pay off. He concluded with wonderful statements, “Nothing ventured, nothing gained. Have no regrets. Naysayers exist everywhere. You just need to know yourself.”
Capt. Satyendra Vaidya references the video and notes how many people seem to take risks out of peer pressure and habituation. Instead of living their life their way, sometimes, people give in to risky decisions based on misguided intentions. This is where he urged the group to define what risk is. He stressed on this, “Fear need not collate with risk. Risk is simply something that is done rashly, without much thought.” He challenges the group’s notion of measured decisions being risks. According to him and dictionaries agree, a risk is an unconsidered, rash decision. There is difficulty and danger involved in things that are risky. This danger could be social, financial or physical. He challenged the group with one word — perception. Every action has some perception. What’s risky to some, might be safe to others! He concluded on a hopeful note, “Life is full of risks. Accept and overcome risks. Live life fully.”
Venky Datla comes in strong by asking us to peer into the unknown and find something to be passionate about. He candidly shares his professional experiences with taking risks to pursue his passion. Despite having a few hiccups along the way, he recommended this way of life wholeheartedly. He urged us to pursue a passion regardless of every sane voice in the room. He wowed the room with this, “Risk is what you love. You chase that at any cost.” He does however cheekily suggests doing some homework alongside taking risks. He introduced another term namely risk capital. A risk taker might not be a risk taker in all areas of life. A person’s risk capital depends on what the risk is. He concluded with a human note, “AI/ML have increased predictability and reduced risk significantly. Risk mitigation is here already and that is where we leverage our human sentience, conscious and move beyond the unknown.”
Binati Sheth nods furiously (as always) as life flashes her by. What she thought were risky decisions apparently were calculated-risky decisions. She marvelled at the feet of holistic discussions where the motto was to discuss and to not be right. She stated how people tend to collate risks with danger. “Safe paths are not right paths. Risky paths are just that — risky; a gamble,” she recorded. As she cursed her faulty Internet connection internally, she remembered the words of Florence Foster Jenkins who famously said, “People may say I couldn’t sing, but no one can ever say I didn’t sing.” This was it. Live your life your way. Having lost a job she loved to Artificial Intelligence in August 2020, Binati remembered how she didn’t complain. She had looked at the situation instead and decided to embrace the change by taking a risk with learning the new technology in town. She concluded by admitting how she changed her mind about what was risky. From personal experience, she recommended accepting and taking gambles.
Preeti Chaudhary graciously hosted the event (as always) by promoting thought diversity. She brought in her experience with the Startup ecosystem to say, “I think our entrepreneurs are major risk takers. Data suggest how 95% of Startups fail. Yet, more and more people are jumping in. It is incredibly commendable.” She stated how she is a maverick, now until eternity; always against the flow. She succinctly expressed the joy she felt when she remained true to her instinct, no matter how risky or safe her decisions were. She gave many examples from history, “History was made by brave people who took incredible risks. If you want to succeed in life, all you need is to be perceptive and prepared.” She concluded by stating something that would speak to anyone who’s ever taken a risk, “I feel validated.”
This was indeed an incredibly insightful and validating discussion.
Please note:
Ted circles is a theme based monthly activity which focuses on impactful, meaningful conversations among people in all walks of life. For this circle, seven people gathered to discuss the topic to ensure they are not mere spectators but parts of the conversation. The event was held on 21st May 2021 at 3:00PM (IST). The agenda on the docket was ‘Risk-Taking’. All the contributors were committed to discussing risks and the action of taking risks honestly. The host of the event, Preeti Chaudhary invited Ranveer Singh, Gautam Nath, Capt. Charanjit Lehal, Capt. Satyendra Vaidya and Venky Datla to the stage with Binati Sheth acting as the scribe for the event.
