Big Technology Podcast Why Extreme Risk Takers Are Winning — With Nate Silver
12 snips
Aug 14, 2024 
Nate Silver, renowned statistician and author, shares his insights on the rising influence of extreme risk takers in industries like tech and AI. He discusses the stark contrast between risk-seeking individuals and those who prioritize safety. Engaging topics include the success stories in poker and sports betting, and how these reflect broader societal attitudes toward uncertainty. Silver also highlights the impact of probabilistic thinking in political discourse and the ethics surrounding effective altruism, making for a thought-provoking conversation about risk in modern life.
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Risk Aversion
- Most people are too risk-averse, influenced by our history of subsistence living.
- We should take more positive expected value gambles and measure risks better.
Expected Value
- Consider expected value when making decisions with uncertainty.
- Repeated scenarios average out, offering a useful framework.
River vs. Village
- Society divides into 'The River' (risk-takers) and 'The Village' (safety-seekers).
- The River, analytical and competitive, thrives in fields like poker and VC.
