A historical collection of our writing.
While I am working on my book World After Capital, I am also collecting ideas for an important project that I want to tackle afterwards: a compendium of principles. Before you think, oh Albert is going full on Ray Dalio, let me provide the definition of “principle” the Oxford Dictionary: (1) A […] Read more (opens Continuations in a new tab)
Last Uncertainty Wednesday, I introduced the beta distribution to model our prior belief about the probability of Heads in a coin toss. We saw that for the parameters α = β = 1 the beta distribution gives us a uniform prior, which expresses the highest degree of uncertainty (you may want to revisit […] Read more (opens Continuations in a new tab)
NOTE: Last week’s excerpt from World After Capital described how prices cannot exist for many of our most important attention allocation decisions. Today I describe how production functions with network effects result in power law distributions that have bad social and economic implications. […] Read more (opens Continuations in a new tab)
Independence Day is a cheesy summer action blockbuster. And yet, after watching it one can’t help but feel good about humanity defeating an existential threat using courage, technology and science (and doing so under American leadership). The irony today is that we face such a species level threat. […] Read more (opens Continuations in a new tab)
NOTE: Today’s excerpt from World After Capital starts to explain why capitalism cannot solve the problem of allocating attention which is scarce at the individual and collective levels. Capitalism has been extraordinarily successful. So much so that even communist countries like China, that had […] Read more (opens Continuations in a new tab)
It’s been six weeks since the last Uncertainty Wednesday, so I strongly suggest you go back first and read that post which provides an introduction to the idea of updating. Take your time, this new post won’t go away! The distribution that we will use for modeling our coin is the Beta distribution. […] Read more (opens Continuations in a new tab)
