Ideas

Some take aways from Nassim Taleb "Statistical Consequences of fat tails" book. A must read for a next generation thinker.

You are offered a choice between two envelopes E1 and E2. All that you know about them is that one contains twice as much money as the other. After you have chosen one of the envelopes, you are offered the opportunity to switch the envelope that you have chosen for the other envelope. Should you keep the first Envelope or change? Here is a tempting line of reasoning that suggests that you should make this...

The world is changing rapidly, and the power of data is becoming increasingly evident. Some say that “Data is the new oil,” while others liken it to “Plutonium.” Whatever the comparison, it’s clear that data is a valuable resource that can be used to drive innovation and progress in various industries. Similarly, artificial intelligence (AI) is being hailed as the new electricity, as it has the potential to transform the way we live and work....

  A New Interpretation of Information Rate. Created in 1956 by John Kelly, a Bell Labs scientist. Let us consider a communication channel which is used to transmit the results of a chance situation before those results become common knowledge, so that a gambler may still place bets at the original odds. Consider first the case of a noiseless binary channel, which might be used, for example, to transmit the results of a series of...