The Incerto Podcast cover image

Rory Sutherland | Nassim Taleb Wrote The Book Jacket For Alchemy

The Incerto Podcast

NOTE

**Problem with averages **

The problem with statistical competence is that there are a lot more competent statisticians than really good statisticians. In fields like plumbing, a competent plumber is usually sufficient, but in statistics, people who think they know what they're doing can be dangerously wrong. Naive assumptions, such as assuming data is Gaussian when it isn't, can lead to major errors. Businesses often deal in averages, but this can blind them to outliers or black swan events.

00:00
Transcript
Play full episode

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
App store bannerPlay store banner