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Moral of the story is that we overestimate good outcomes and underestimate bad outcomes. If people believed this then all rational folk (and by definition risk
by 1cvmask 5y ago
Moral of the story is that we overestimate good outcomes and underestimate bad outcomes. If people believed this then all rational folk (and by definition risk averse) would steer clear of startups. Maybe that's why startup folks are crazy and have a higher chance of winning the lottery.
- cyanydeez 5y agoIt's indistinguishable from gambling. A billion failed tickets never match a single winning story. But what's worse, like casinos, the whole system can be tuned to feel like "we are so close to winning". Slot machines are designed to make it look like you are "so close" to winning Do we really think the dark patterns employed by social networks are confined to the UI