The market may feel competitive, but its susceptible to disruption by whoever locates and climbs the mountain.
Is that market truly competitive? Or is it mimetic hill climbing? Hill climbing: when someone locally optimizes without seeing if there is a taller mountain to climb Mimetic hill climbing: when everyone sees easy gains from climbing the same hill and stops thinking of mountainspic.twitter.com/GmAtUKOcCn
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I use this graph when explaining the mental models of improvement strategies, one incremental (high success rate, low impact) to find the local max and the other randomized (low success rate, high impact) to find the global max.
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where the ‘competition as a form of validation’ trope is dangerous
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In mountaineering, intermediate waypoints are used to avoid chasing a false summits. Perhaps there’s an analogy somewhere in there..
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If you assume a large majority will mimetically sample from the same prior, it should make it all the more rational for an agent to anneal and find a better maximum. The market will favor the annealers with assymetric upside. Then the process repeats... a cycle of memes.
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Counter point: high-dimensional spaces are dominated by saddle points, not local minima. Further, local minima are close to optimal. Parallel to markets: there's always a way out, always a dimension to optimize on. Qst is: can you see it? See at 1:09:41 http://videolectures.net/deeplearning2015_bengio_theoretical_motivations/ …pic.twitter.com/m2u2KlJLsX
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Which is more rewarding?
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Asking yourself, “where are the uncharted mountains?” is a sticky metaphor. Great visuals.
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Its a long journey to the top especially if you go by tiny steps;)
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that's unbelievable how many that liked this tweet are also on the wrong hill
. Thanks for sharing it, it's eye opening 
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