The other day, a jeep cut me off in traffic, and as he sped away, I was able to glimpse his bumper sticker.

It said,

make hockey more violent.

Hey, it's Seth.

And this is a Kimbo.

We'll be back in a second to talk about capitulation.

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We are all alive today because the Cold War lasted a really long time.

That what happened was that people who understood human nature stalled and delayed and procrastinated

so that the Cold War didn't end up becoming a hot war. It took 50 or more years for the whole

thing to end, but it happened because capitulation was taken off the table.

Capitulation is a term from stock market, and what it describes is what happens when investors

lose their nerve. When stock prices have gone down so much, they can't stand it anymore,

and instead of just riding it out, they sell at a loss. They capitulate. It's in that moment that

some people believe they can swoop in and gain bargains, but it also helps us understand a

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