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From the perspective of those who aren't irrationally optimistic, I think sometimes. Self-defeating example: betting on red in roulette is a bad idea. Having y
by dlss 10y ago
From the perspective of those who aren't irrationally optimistic, I think sometimes.
Self-defeating example: betting on red in roulette is a bad idea. Having your friend bet on red is a better but still bad idea. Having a stranger bet on red, and buy you a drink if he wins... It's free money.
Applied example: starting an electric car company (at least looked like) a bad idea.... trying 1,000 different approaches to a light bulb, especially after 500 failures (at least looked like) a bad idea... etc.
- inimino 10y agoPeople chasing long shots under a delusion can sometimes be profitable for someone else, but if a movement is built on irrational exuberance surely there's a cost to be paid sooner or later.
- EthanHeilman 10y ago>if a movement is built on irrational exuberance surely there's a cost to be paid sooner or later. I worry about a Blockchain winter, then again AI has made fantastic progress despite the AI winters[0]. Would fusion as a power generating technology be further along or further behind if it had followed the AI model (progress -> hype -> winter -> progress)? [0]: https://en.wikipedia.org/wiki/AI_winter https://en.wikipedia.org/wiki/AI_winter