3 ms·
Exactly the right term to use: Expected Value. If we have 1/6 chance of winning and each win gives us 6x, we have an EV of 0. Poker is a great game to learn to
by beardedetim 4y ago
Exactly the right term to use: Expected Value. If we have 1/6 chance of winning and each win gives us 6x, we have an EV of 0.
Poker is a great game to learn to understand EV/variance.
- mcguire 4y agoI wonder what the expected value of entrepreneurship is? I rather suspect it is significantly negative, because most new businesses fail and the venture capital system means gambling with someone else's money.