2/ One of the earliest applications to be systematized for instance, was life insurance for widows.
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13/ Fundamental theory/concepts won't change, since it is an axiomatized math field, but shift in emphasis to max-luck over min-risk is big
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14/ So
#musklevel challenge to data/stats/probability wonks: invent a rigorous theory of luck/serendipity using hacking as first example - 2 more replies
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@vgr what about real options/capital budgeting or venture capital as a base domain? -
@GordonBrianR I'd have to think about it
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@vgr also, have you looked at Knight's risk, uncertainty, and profit http://www.amazon.com/Risk-Uncertainty-Profit-Frank-Knight/dp/0984061428 …?Thanks. Twitter will use this to make your timeline better. UndoUndo
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@vgr correction: here's some reading on 'return on luck' by@level5leaders http://www.nytimes.com/2011/10/30/business/luck-is-just-the-spark-for-business-giants.html?_r=0 …Thanks. Twitter will use this to make your timeline better. UndoUndo
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@vgr best path to bottling up a million dollars with code is to MVP in distribution loops, not in features or data. Most luck is in distro.Thanks. Twitter will use this to make your timeline better. UndoUndo
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