That's probably the first text on business/management that I found interesting to read. In my (limited) experience, such texts are usually extremely dry, and lack any logic. Often they seem to recommend abstract rules without any reason. This text was more "reasonable", and the funnel experiment is very suggestive.

BTW, why woiuld the author wonder about the multiplication of loss and probability? Why would it be a convolution? I suppose the intention is to minimize expected loss.