@scmallaby Yes! If anything, if they want to make an argument invoking Hayek, it would make more sense to argue the critique of central planning may be obviated by these models, not that they should function like humans as local, limited-knowledge optimizers do.
One day, one of your fellow townspeople suddenly boasts of a massive kumquat tree reaching so high you can’t see the top of it.
You look on with disbelief.
There must be billions of kumquats on the tree.
One day, one of your fellow townspeople suddenly boasts of a massive kumquat tree reaching so high you can’t see the top of it.
You look on with disbelief.
There must be billions of kumquats on the tree.
@ordonez_adan Not quite it doesn’t do continuous and implicit state management and intent parsing performantly nor allows you to directly manipulate text editor with voice
@JeremiahDJohns This is never the right response though I sympathize. It’s a hilariously, ironically strong form of the EMH applied to experts rather than markets. Better to just point to the research
The group mocking the eccentric entrepreneur is evolutionarily beneficial.
It prevents marginal candidates from leaving proven group activities and risking potential rescue efforts that divert group resources.
Only strong candidates persevere which is what the group wants.
The group mocking the eccentric entrepreneur is evolutionarily beneficial.
It prevents marginal candidates from leaving proven group activities and risking potential rescue efforts that divert group resources.
Only strong candidates persevere which is what the group wants.
@paulg There are other things like that that are fascinating like early cancer screening and 401k optimization. Some folks never do either despite outsized importance
One day, one of your fellow townspeople suddenly boasts of a massive kumquat tree reaching so high you can’t see the top of it.
You look on with disbelief.
There must be billions of kumquats on the tree.
One day, one of your fellow townspeople suddenly boasts of a massive kumquat tree reaching so high you can’t see the top of it.
You look on with disbelief.
There must be billions of kumquats on the tree.
To your surprise, your investor is delighted as ever. He sold his stake in your company months ago and doubled his money.
You’re actually not too down yourself. When your investor sold he convinced you to sell 10% of your stake as well to another foreign investor. That was more money than you’d made in 25 years selling kumquats from your tree.
Then something catastrophic finally happens. The owner of the divine trees, having analyzed every kumquat ever consumed, designs an inspection process for the new kumquats that is not only more accurate than yours, but is included for free in the quadrupled price!
You hear that some of your customers have started buying the new kumquats directly and inspecting them themselves.
Some of them have even started consuming uncertified new kumquats with no problems whatsoever—maybe they don’t even need to inspect them!
But then something you didn’t foresee happens. The owner of the divine tree has taken the seeds from the first tree and grown a second tree that sells kumquats with quadruple the nutrient density and skin pliability of the original tree kumquats. He sells these new ones for quadruple the price.
You also notice that the townspeople and foreigners are using these kumquats in all sorts of interesting ways.
some are cutting them up first. Some are baking them with flour to make sweet treats. Some are juicing them. Some are even saving the skins and making ornamental clothing out of them!