The Internet as a Variance Amplifier

The internet is described as a variance amplifier, meaning that it increases the extreme outcomes of social and economic processes. In the past, modernity reduced variance by promoting institutions and systems that picked predictable and safe candidates for leadership roles. However, the internet has disrupted this trend, amplifying the most extreme outcomes and making them accessible to a broader audience. The internet's ability to connect millions or even billions of people to unique ideas and opportunities has led to increased variance in society.