4 ms·

not sure why, but the use of the word "wrong" just bothers me. why can't a gambling addict be an experimental variation that MAY result in something game-chang

not sure why, but the use of the word "wrong" just bothers me. why can't a gambling addict be an experimental variation that MAY result in something game-changing (i'd bet a lot of the greatest entrepreneurs are basically risk addicted gamblers).

phillc73 10y ago
Maybe, with relation to entrepeneurs, but I think there are fundamental differences between business (and sports betting or poker) compared to casino games like slots and roulette. Regarding the former, hard work and study can affect the outcome. The latter are machine programmed and can't be beaten. I don't know, but wouldn't be surprised if these two types of gambling attracted different types of people.
- Relys 10y ago
  Math is the difference. Casino games are a tax on people who can't do math.
  - phillc73 10y ago
    Perhaps that is true for poker and sports betting (although I don't believe tertiary level mathematics is a pre-requisite), but you don't necessarily need to be good at maths to be successful in business. Dedication, vision, relationships and a whole host of other factors combine in successful business management, which can go a long way towards mitigating risk.
  - ryandrake 10y ago
    Many things are negative-EV that do not have the stigma of casino gambling, but we don't ridicule participants' math skills. On average, start-up founders lose money. Are they all as ignorant of math as gamblers? In fact, I would guess that most human activity is negative-EV.
- tremon 10y ago
  hard work and study can effect the outcome Affect
  - LgWoodenBadger 10y ago
    Outcomes can be effected as well.
cloudjacker 10y ago
I was thinking about writing your exact comment, but then I read the article
ChoHag 10y ago
We like to refer to the brain causing things to happen that society doesn't like as wrong despite rarely being in a position to say with conviction whether the brain is acting 'right' or 'wrong'. Many actions are considered wrong and a particular brain activity is somewhat arbitrarily chosen as the single cause of that action, and thus wrong in and of itself. It's as useful as saying that phishing happens because the TCP handshake is fundamentally broken.

phillc73 10y ago

Maybe, with relation to entrepeneurs, but I think there are fundamental differences between business (and sports betting or poker) compared to casino games like slots and roulette. Regarding the former, hard work and study can affect the outcome. The latter are machine programmed and can't be beaten. I don't know, but wouldn't be surprised if these two types of gambling attracted different types of people.

Relys 10y ago
Math is the difference. Casino games are a tax on people who can't do math.
- phillc73 10y ago
  Perhaps that is true for poker and sports betting (although I don't believe tertiary level mathematics is a pre-requisite), but you don't necessarily need to be good at maths to be successful in business. Dedication, vision, relationships and a whole host of other factors combine in successful business management, which can go a long way towards mitigating risk.
- ryandrake 10y ago
  Many things are negative-EV that do not have the stigma of casino gambling, but we don't ridicule participants' math skills. On average, start-up founders lose money. Are they all as ignorant of math as gamblers? In fact, I would guess that most human activity is negative-EV.
tremon 10y ago
hard work and study can effect the outcome Affect
- LgWoodenBadger 10y ago
  Outcomes can be effected as well.

cloudjacker 10y ago

I was thinking about writing your exact comment, but then I read the article

ChoHag 10y ago

We like to refer to the brain causing things to happen that society doesn't like as wrong despite rarely being in a position to say with conviction whether the brain is acting 'right' or 'wrong'. Many actions are considered wrong and a particular brain activity is somewhat arbitrarily chosen as the single cause of that action, and thus wrong in and of itself. It's as useful as saying that phishing happens because the TCP handshake is fundamentally broken.