“You cannot bootstrap off an existing dataset. Full stop. These datasets can contain implicit assumptions or associations that you are not aware of. This is the

“You cannot bootstrap off an existing dataset. Full stop. These datasets can contain implicit assumptions or associations that you are not aware of. This is the original sin of many a algorithmic risk underwriting startup” False. You can definitely bootstrap and adjust the model as you either gather more data yourself or get more outside data. You can also build confidence intervals around the model predictions and decide how you want to proceed based on that. There is lots you can do with that initial model.