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Learning and Governance (with Emerson Spartz)
Clearer Thinking with Spencer Greenberg
The Russian Roulette Metaphor
Expected utility theory would just say, always put it all in. Right? It's like, Oh, well, because the expected value is positive. Of course you want to play this game, play as many times as you can in a row. But of course, if you do that, you will very rapidly, you know, let's say it's 50, 50 chance away and losing,. who very rapidly lose everything, right? You'll go to zero. So expecting to tell you the theory tells you this thing that kind of makes a lot of sense in an ensemble way of thinking, but in a time series where you're guaranteed to run out of money and then you're
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