Redefining risk: lessons from medicine, money and space travel | White coat investor

Redefining risk: lessons from medicine, money and space travel | White coat investor

6 minutes, 44 seconds Read

At The White Coat Investor we often talk about risks and costs, usually in terms of the potential to make money or the possibility of losing it. As the first female commercial astronaut to fly into space last year, I think a little differently about risk.

Achieving my lifelong goal of going to space was worth the forty years of work it took to get there. I had to decide in advance that the potential cost of losing my life in pursuit of that goal was preferable to the alternative: never taking the risk. That decision framework – making conscious choices rather than avoiding risks by definition – has shaped every major turning point in my career.

Don’t let the fear of failure hold you back

In my current role as a teacher and mentor for doctors looking to start and build businesses (my four-week course, Expert Witness Startup School, is open to new participants through January 26), I see clear parallels. Many physicians want to develop new skills, increase financial flexibility and regain a sense of professional agency. But the fear of failure often holds them back. The good news is that clinical training already qualifies physicians to serve as experts. The more difficult step is the decision to lead and build something new despite the uncertainty.

A common thread in my work – as an educator and former Space Camp Crew Trainer – is helping people recognize and use skills they didn’t know they already had. In the United States, our legal system relies on juries of our peers, most of whom have no medical training, to decide the outcome of complex medical malpractice cases. Physicians and other clinicians are uniquely qualified to serve as experts in this system—not as advocates, but as educators.

We already do this work every day in medicine: explaining diagnoses, risks, uncertainty and outcomes to patients and families. The work of expert witnesses is simply another opportunity for that same responsibility: translating complex information clearly, accurately and ethically.

When I was a Space Camp Crew Trainer in college, I taught high school students—just a few years younger than me—how to launch, fly, and land the space shuttle. I learned those skills by first going to camp myself, studying extensively, and then developing the confidence to teach others. That progress – learning, synthesizing and teaching under pressure – is second nature to doctors.

It is also one of our most transferable and undervalued professional skills.

More information here:

How an Expert Witness Can Make You a Better Doctor

How to Actually Get Paid as an Expert Witness (or Another Side Job)

The diversity of the Pathfinders

When studying the evolving traits of Blue Origin astronauts, leadership is the most common trait among them. More recently, there has been a notable shift toward communication, storytelling, philanthropy, and education. These changes reflect a broader evolution in space exploration: from the sole purpose of going into space, to continuing that work for the benefit of Earth.

My crew of six called ourselves the Pathfinders because of our divergent paths to space. symbolically represented in our mission patch. The caduceus symbolizes my career as a doctor. My crew members came from diverse backgrounds including IT, education, diplomacy, entrepreneurship, and mountaineering (to name a few). Yes, Mark Rocket even has a career in rocket building (and is from New Zealand, where the Kea bird lives)! Commercial astronaut crews are becoming increasingly diverse in background, profession and perspective, allowing more of humanity to see a potential path to space and the shared benefits that come from it.

When we focus solely on potential loss, we miss the possibility of gain. Going into space, building companies, and leading organizations has taught me that the bigger the goal, the harder it is to achieve – but also the more meaningful the impact, both personally and for others.

Some critics derided the launch of the all-female NS-31, which took place shortly before my flight, as missing an important point. That mission was one of the most diverse yet, not because it was all women, but because of the breadth of skills, perspectives and experiences represented. Never before had a crew with such reach come together to convey the meaning of space exploration, conduct research and show how people from different backgrounds can unite around a common goal.

More information here:

4 more times doctors were the coolest people ever

Redefining my medical career. . . Again

Since my flight in May 2025, I am often asked what it was like to be in space. No, I didn’t see any aliens. The landing was scarier than the launch because if we hadn’t managed to land safely, the rest of the mission wouldn’t have mattered. I’m also asked how, at age 51 and having achieved my greatest professional dreams, I return to mundane tasks like grocery shopping, checking the mail or doing laundry.

The answer is that I do them with joy. I do them knowing that I gave my goals everything I had – not just for my own fulfillment, but to show others that someone like me, who looks like them, can also pursue extraordinary goals.

After landing, while being interviewed next to the capsule (you can see it in the video below), I was asked what qualities I possessed as a doctor that also made me a good astronaut. My answer was love and compassion. Doctors don’t choose our patients; we take care of everyone who comes to us. One of the most profound moments of my flight was when I soared above the Earth and then instinctively turned inward to check on my crewmates – just as I would in a hospital or clinic, leading a team through complex work. That sense of responsibility and connection is shared by both doctors and astronauts.

Expert witness work was one of the tools that allowed me to redefine my medical career and build additional financial flexibility, including real estate investments and developing educational programs for other physicians. I wish more physicians would view the work of expert witnesses as a normal extension of medical professionalism – no different from peer review, supervisory services, or quality improvement. At its core, it is an exercise in leadership. Building a tolerance for risk and enjoying the rewards of accomplishing hard things – tasks I worked on daily in my role as an expert witness in building new businesses – were crucial steps in my journey to space.

Choosing leadership means choosing action over inaction, despite risks. We often say that hard things are not rocket science, but consider the complexity and risks associated with building the bridges, hospitals or infrastructure that people rely on every day. Developing tolerance for difficult things is what shapes us into the people – and professionals – we want to become.

When the New Shepard rocket’s engines ignite, it takes seven seconds to build enough thrust to take off. You are warned in advance that you will see flames and feel vibrations, but that you are not on fire. That reassurance matters. In space, I experienced three minutes of weightlessness, staring at the Earth knowing that decades of effort had culminated in that moment. The validation was invaluable.

Whether you go to space, we all have a purpose that helps us know we are living our best life. It starts with one step.

Have you taken risks in your career to gain more satisfaction? Did it go as you hoped? Why or why not? Was there anything you could have done differently?

#Redefining #risk #lessons #medicine #money #space #travel #White #coat #investor

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *