Remember that 'Black Swan' article from a few days ago? Minimize your downside extremal risk exposure, and maximize your upside extremal risk exposure (20%, Li

Remember that 'Black Swan' article from a few days ago? Minimize your downside extremal risk exposure, and maximize your upside extremal risk exposure (20%, Lively, etc.)? Well, the writer of this piece apparently didn't. The instant any of these things starts draining resources directly from their core business, then GOOG investors can start panicking. Meanwhile, the GOOG seems to have taken the lessons of the market to heart. Not unlike YCombinator -- lots of little dollops of money into little baskets, most of which will never be seen again, but a handful of which can generate such absurd upside that the foregone dollops are but an afterthought. Google seems to get this. You'd think their entire business was originally based on probable inference, or something...