Does that make sense?

这样说得通吗
So people figured out that they, people who didn't invest the first time

人们发现第一次不投资的人实际上
actually they played the best response to the class, so they stayed put.

采取的是最佳对策他们按兵不动
And those of you did invest,

而那些投资的人
a lot of you started not investing as you caught up

开始时很多人都不投资然后大家陷入
in this spiral downward and we ended up not investing.

不投资的漩涡最后也就没人投资了
But had we started off above the critical threshold,

但如果我们开始时投资概率高于
the threshold here is 90%,

90%的阈值
and had you made money the first time around,

假如你们第一次就赚到钱了
then it would have been the non-investors

那些选择不投资的人
that would have regretted that choice

可能就会后悔
and they might have switched into investing,

然后可能会转而选择投资