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"Lord of the Rings" is just a convenient reference for this fairy story leitmotif: https://en.wikipedia.org/wiki/Magic_ring https://en.wikipedia.org/wiki/Magic_

"Lord of the Rings" is just a convenient reference for this fairy story leitmotif: https://en.wikipedia.org/wiki/Magic_ring https://en.wikipedia.org/wiki/Magic_ring I recall (very badly) having read some Carl Sagan's reflection on this and how the fact is the majority of people hold some form of "magical thinking" which is completely at odds with rationality and the scientific method. Basically all you need is acquire some form of "magic ring" and you can be the "magician". When in fact you are not, you only are the magician if you can forge the magic ring. And diagnose and repair it when it malfunctions. But that's not what "AI finance" is about, that's classical finance. AI is the magic ring here, somehow magically "it" thinks and does so that you don't have to. You only spin the ring and enjoy the riches.

thaumasiotes 3y ago
> this fairy story leitmotif: https://en.wikipedia.org/wiki/Magic_ring https://en.wikipedia.org/wiki/Magic_ring The only thing the examples there have in common is that they're all rings. They do different things; what makes "magic rings" a leitmotif when "magic hats" (also very common) aren't? The rule in fairy tales is very simple: any object can be magical. You have magic swords, magic knives, magic bags, magic shoes, magic dolls, magic paintings, magic lakes, magic trees, magic stoves......
- codetrotter 3y ago
  > what makes "magic rings" a leitmotif when "magic hats" (also very common) aren't? The rule in fairy tales is very simple: any object can be magical. But this is not just about fairy tales, it’s also about folk lore. Things that people in real life sometimes actually believe in. The linked Wikipedia article says: > A finger ring is a convenient choice for a magic item: It is ornamental, distinctive and often unique, a commonly worn item, of a shape that is often endowed with mystical properties (circular), can carry an enchanted stone, and is usually worn on a finger, which can be easily pointed at a target. Seems reasonable that in real life a ring might make a more convincing magical item than a hat.
  - thaumasiotes 3y ago
    Hats are ornamental, distinctive, and often unique, they are commonly worn, they are circular, they can carry a stone, and they can be easily pointed at a target. People have been wearing special hats for symbolism for several thousand years. And on top of all of that, the specific claim was that rings have a special presence in fairy tales, which is definitely not true.

thaumasiotes 3y ago

> this fairy story leitmotif: https://en.wikipedia.org/wiki/Magic_ring https://en.wikipedia.org/wiki/Magic_ring The only thing the examples there have in common is that they're all rings. They do different things; what makes "magic rings" a leitmotif when "magic hats" (also very common) aren't? The rule in fairy tales is very simple: any object can be magical. You have magic swords, magic knives, magic bags, magic shoes, magic dolls, magic paintings, magic lakes, magic trees, magic stoves......

codetrotter 3y ago
> what makes "magic rings" a leitmotif when "magic hats" (also very common) aren't? The rule in fairy tales is very simple: any object can be magical. But this is not just about fairy tales, it’s also about folk lore. Things that people in real life sometimes actually believe in. The linked Wikipedia article says: > A finger ring is a convenient choice for a magic item: It is ornamental, distinctive and often unique, a commonly worn item, of a shape that is often endowed with mystical properties (circular), can carry an enchanted stone, and is usually worn on a finger, which can be easily pointed at a target. Seems reasonable that in real life a ring might make a more convincing magical item than a hat.
- thaumasiotes 3y ago
  Hats are ornamental, distinctive, and often unique, they are commonly worn, they are circular, they can carry a stone, and they can be easily pointed at a target. People have been wearing special hats for symbolism for several thousand years. And on top of all of that, the specific claim was that rings have a special presence in fairy tales, which is definitely not true.