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?
-
-
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.
-
100000x this. Poker isn't "gambling" in the sense that its played against players and not the house. I could not get my parents behind it though.
End of conversation
New conversation -
-
-
Taleb calls it the Ludic Fallacy. Part of the problem is that zero-sum games with a pre specified payoff are way easier to model, so that’s where Bernoulli started.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.