False proxies
Akimbo: A Podcast from Seth Godin
The Importance of Employee Engagement
Michael Lewis talks about how Billy Bean took advantage of this gap. In his case was the Oakland A's and Billy Bean figured out that there was a simple, easily found statistic that indicated whether or not someone was going to be a productive baseball player. But all the baseball scouts in the major leagues did not use that statistic. They picked people who they thought looked like baseball players.
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