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Ep 130: Steven Pinker’s ”Rationality” Ch 6 ”Risk and Reward” (Rational Choice & Expected Utility). Analysis.

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Starting a Company Is Not the Same as Buying a Lottery Ticket

Starting a company is not the same sort of thing as buying a lottery ticket. Gambling and buying lottery tickets have known odds. But it's nothing like starting a company. The more effort people put in, the more creativity they bring to bear. And indeed change tack when it comes to building a company,. error correcting, unare incrementally trying differentversions of the company - this makes all the difference in the world.

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