bhewes

26 ms·

271.
by bhewes 16y ago
It is hard to know exactly what fake work is looking forward, but it is easy looking backwards. Which means you must test your assumptions continually over time. As what was real work in the past can easily turn into fake work. PG's "Alarm
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by bhewes 17y ago
Reminds me of Samuel Bowles' Does education help? . “Being willing to sit in a boring classroom for 12 years, and then sign up for four more years and then sign up for three or more years after that—well, that’s a pretty good measure of you
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by bhewes 17y ago
As I was reading I though I could just replace software engineer with knowledge worker and it would stay valid. Then I remembered Peter Drucker wrote an article for Forbes in 98 called "Management's New Paradigms" basically covering the sam
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by bhewes 17y ago
Systemic risk is a risk that can cause the financial industry to collapse. VCs are not a systemic risk they are only $28 billion in size, are positively exposed to extreme market moves and are not leveraged. With a VC investment the most yo
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by bhewes 17y ago
Fine if he thinks people will pay for things. They will have to actually provide added value. Like Zynga or Blizzard. So Diller find out what people will actually pay for. Don't give us crap about how free is not free. Same goes for the NYt
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by bhewes 17y ago
Yeah what you described is called the volatility smile. I would say going long on Black Swans is more of an insurance policy unless you are a VC. As the Taleb advised Universa Investments L.P. sells itself as "an investment management firm
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by bhewes 17y ago
Mediaman is right that there are people in finance that understand fat tails. I would say that Taleb along with Espen Haug, and Pablo Triana would agree. The issue is the theory. Actual practitioners do not have the luxury of believing in t
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by bhewes 17y ago
First what well-known mathematical principles are you talking about? Second have you read any of his academic papers? All can be found on SSRN. Two of the big ones are "Errors, Robustness, and the Fourth Quadrant" and "Finiteness of Varianc