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Uncertainty Wednesday: Risk Aversion (Jensen’s Inequality Cont’d)
Albert Wenger – Aug 9, 2017
Last Uncertainty Wednesday, I introduced Jensen’s Inequality. I mentioned briefly that it explains a lot of things and today we will look at the first one of these, which goes by the name of risk aversion. This is simply economists [...] Read more
Greed Isn’t Good
Fred Wilson – Aug 7, 2017
The famous Gordon Gekko line that "greed is good" is bandied about quite often to explain why capitalism, and the pursuit of riches, is a positive thing for the economy, society, and the world at large. Greed is not good. [...] Read more
The Fallacy of Biological Determinism
Albert Wenger – Aug 6, 2017
In my draft book World After Capital, I write about how digital technology has given us the possibility to leave the Industrial Age behind and enter the Knowledge Age. In an early chapter on Optimism, I argue against economic, historical [...] Read more
ARKit: a game-changer for the Metaverse
Jacqueline Garavente – Aug 2, 2017
At USV we’ve had a Google Tango for over a year. When people describe applications for ARKit, say for instance dropping IKEA furniture objects into your home, it seems a lot like what Wayfair has already done with Google Tango. [...] Read more
Uncertainty Wednesday: Jensen’s Inequality
Albert Wenger – Aug 2, 2017
Last week in Uncertainty Wednesday, I introduced functions of random variables as the third level in measuring uncertainty. Today I will introduce a beautiful result known as Jensen’s inequality. Let me start by stating the inequality: f[EV(X)] ≤ EV[f(X)] where [...] Read more
The Future and the Process
Andy Weissman – Aug 1, 2017
"People are often asking me what’s going to happen next in science that’s important, and of course, the whole point is that if it’s important, it’s something we didn’t expect. All the really important things come as a big surprise." [...] Read more