TheLogothete

You base your assumption on your very smart and educated friends. Unfortunately, smart and drive people are a tiny minority in the world. You cannot make policy based on how the top 10 would react

Saudi Arabia. Kuwait.

You only need to open your eyes for the truth and you won't be searching too long.

Human behavior is reliant on feedback loops. Remove the incentive and you remove the drive. Not going forward means falling downward.

You don't say!

I would have loved it better if MS chose Cent over Ubuntu.

I don't think you understand how machine learning works. Better not to opine on something you don't understand.

Go might be a complex game, but in the grand scheme of things it is a trivial problem to solve, very narrow in scope. You perform an infinitely more complex task everyday when you make breakfast. AlphaGo's achievement is that it learned how to open the fridge with great efficiency.

>World is also going through information technology revolution -- explosive increase in productivity

I thought so too. But it doesn't seem to be the case. Growth in productivity has been in steep decline over the last 50 years.

http://www.economist.com/node/21695071

I often wonder why people are more interested in replying than in reading.

>What difference does it make if the author is famous or not?

It would explain why this jibberish is #1 on HN.

Bing and Bing-powered search has like 30% share in the US.

Siri is powered by Bing.

Why is this article even on the front page (#1 even) of HN? Is this guy famous? His article is pure ramblings and defies common sense.

I don't think you are very familiar with how the payments industry works. Credit cards offer much more than a means to pay. Apple will need to double their headcount to compete with Visa. Or do you think that this is a feasible scenario?

Partnering? Sure! I think this will be the way forward, but the GP says Apple is out to get VISA and MC (as companies) and will leapfrog them with one clean swoop. This will most definitely not happen.

Don't you need credit cards to use apple pay?

You are clearly biased against rich people. The sibling's comment are my thoughts exactly. Not every cheat is rich and everyone who is rich cheats. If somebody cheats - punish him, whether he is rich or not is irrelevant. Don't make different rules for different groups. What would happen if we swap wealth for race? I did not point out the last paragraph to be cheeky. Less Marx, more Adam Smith.

The top 1% does not have to cheat to outperform the rest. Did you read the last paragraphs of the article?

Wealth does not pass a generation.

http://time.com/money/3925308/rich-families-lose-wealth/

It is a very known fact, but I couldn't find better sources quickly, so this article has to do.

We'll just replace our heads.

So much this!

The top 1% outperform significantly everyone else in every scenario. The app store? Twitch streamers? Youtube videos? Facebook pages? Athletes?

It's a natural phenomenon. If you fight it, you are practically fighting nature. You don't fight earthquakes by trying to stop them. You prepare and help the affected instead.

>Most asset management companies will not let you interview their fund managers, and most fund managers won't divulge their research strategies if asked.

If you have 100k to invest, better put them in the bank and don't bother with "investing".

This is exactly the thinking of the average Joe who goes to invest on the bourse and gets slaughtered. The github example is especially apt. Go to Vegas. Better odds.

You are absolutely right.

This is my opinion, not a rebuttal. I don't need to collect formal evidence to leave my comment. This is the Internet, not an academic panel.

Many people are so desperate to convince themselves that they are very special snowflakes that they will use every opportunity to renounce the status quo. It doesn't matter if the status quo is very sensible and sound. They need, crave to be unique. So every crazy, poorly concocted conspiracy theory gets thousands, millions of devout followers. Convinced beyond belief in the most absurd of things. The funniest thing is that they all think everybody else is delusional and they got to the very special, elevated place, reserved only for the very enlightened.

It is very annoying, tbh.

Don't start with this condescending "nah" when you are going to make a qualification after that and exclude the very case we are discussing here.

>You need an information advantage

Yeah, exactly my point. You need to spend >20 hours to research a single company and will chose to invest in 1 out of 10. Those are the optimistic numbers.

So 5 stocks is 1000 hours. How many hours to learn how to do your due diligence? How many hours per month, every month to keep an eye on what is going on and optimize if necessary?

Are you serious? You need a PORTFOLIO of stocks. It is an ONGOING effort.

Arguing is about making solid arguments. It's not about cherry picking and twisting facts because of your political leanings.

Yay! Unions are great! Just look at IL's fiscal situation!

The progress we've made in AI can be summed up by a very nice analogy I recently about Deep Mind beating the Go world champion: "We need to make transistors* and we just discovered fire."

Yeah, you are right. It's some progress.

* For the record, we don't even know if it even possible to make transistors in this hypothetical universe of AI.

You are saying that amebas* are intelligent.

* Viruses would probably be a more apt analogy.