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0 pointsbeardedetim3y ago0 comments

Exactly the right term to use: Expected Value. If we have 1/6 chance of winning and each win gives us 6x, we have an EV of 0.

Poker is a great game to learn to understand EV/variance.

0 comments

mcguire3y ago

I wonder what the expected value of entrepreneurship is?

I rather suspect it is significantly negative, because most new businesses fail and the venture capital system means gambling with someone else's money.

j / k navigate · click thread line to collapse

0 pointsbeardedetim3y ago0 comments

Exactly the right term to use: Expected Value. If we have 1/6 chance of winning and each win gives us 6x, we have an EV of 0.

Poker is a great game to learn to understand EV/variance.

0 comments

mcguire3y ago

I wonder what the expected value of entrepreneurship is?

I rather suspect it is significantly negative, because most new businesses fail and the venture capital system means gambling with someone else's money.

j / k navigate · click thread line to collapse