7 yo: Is funding gambling? Me: What do you mean? 7 yo: If you fund someone and their company fails, you don't get any money. Isn't that gambling?
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(One of the differences between gambling-as-metaphor and gambling-as-literal is that in a lot of the metaphorical uses you’re allowed and encouraged to alter the future world state, bet, and payoff matrix via many more licit means than most gambling offers.)
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One factor is the conflation of games of pure (or nearly pure) chance, such as roulette and craps, with games of chance + skill like poker and (when counting cards) blackjack. Playing either kind of game is “gambling”, but investing is a lot more like poker than it is like craps.
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When luck is a larger factor rather than just a skill multiplier of the risk-take, it becomes gambling. I don't think it has to do purely with $ returns. poker is less gambling than roulette. founding as a domain expert is less gambling than (most) VC
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K.O this is the best answer, case closed guys.
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...you should talk to some of my writer friends. :)
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"I had edits on
$X thousand dollars worth of paying copy to do with a deadline in a week but I still took the day to write this Star Wars fan theory because otherwise it wasn't leaving my head" - 1 more reply
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Yes. Is hiring gambling? Is pursuing a degree in X, making a connection with someone gambling, or buying a car? In all cases, we are putting some sort of asset on the table, with an opportunity cost, for an expected outcome.
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It's interesting that in some cultures, gambling is as unacceptable as interest on loans. Such cultures frown upon being "too risky" as to almost be certain to lose money (regardless of skill), as they do upon being too cautious as to be almost certain not to lose it or make any.
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