[MaxfordAndSons]

Minimizing your losses is essential; so is maximizing your gains. TBF, in a tournament there is something to be said for biasing towards loss minimization because of the need to preserve your tournament life resulting in chip value being non-linear. But, in cash games (which ironically is what Chamath mostly plays), there is no such bias. Most amateur players arrive incorrectly at that bias over time because frequently miss thin value themselves, and also miss on value when they have the nuts because they don't bluff enough, while also often giving up value incorrectly to better players who are exploiting them, so their experiential bias tells them to err on the side of playing it safe and waiting for a set up in their favor to realize most of their EV, not realizing they are bleeding it away on the margins in countless other spots.