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How to Update Your Prior Beliefs With New Information
Knowing the distribution of outcomes before you make a decision, and just stopping and saying, like, what could possibly happen? What's the range? And if you're ok with that, then go for it. There are lots of examples of that in art and movies and rit and music, in start ups. If all your co founders also worked at one of those and have a computer sience degree from m i t, or stampord or harvart, like i'd probably invest right? Yo. My point is, you can update your beliefs overtime using information.