📚 Quinn's Highlights

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A batch of the best highlights from what Quinn's read, .

To Eliminate Undesirable Behavior, You Have to Eliminate The Stimuli That Precedes It Summary: Self-control problems require structuring life to avoid stimuli that tempt bad behavior, similar to avoiding walking past a tavern if you're an alcoholic. Investors can improve mental hygiene by unfollowing negative sources and following those with a long-term perspective to reduce hyper reactivity to market fluctuations. Changing exposure helps in turning down the amplitude of emotions. Transcript: Speaker 1 But if you 're an alcoholic, you would be crazy to walk past the tavern and say, i will demonstrate the will power not to walk in. You can't do that, and you know you can't, so you walk on the other street. And that's the kind of governor that people need to put on their behavior. If you know that you have self control problems, you have to structure your life so that the things that tempt you into bad behavior don't get surfaced in your stimuli. And that's very easy for investors to do. If you, if you know you have a tendency toward hyper reactivity to, you know, red arrows pointing downward on stock market displays, then turn that web site off, un follow that person On twitter. Follow people who take a longer term perspective and aren't rattled by this kind of thing. Improve your mental hygiene. You can't turn yourself into someone who's unemotional, but you can turn down the amplitude of your own emotions if you change what your exposures are.

#4 Jason Zweig — Elevate Your Financial IQ

The Knowledge Project with Shane Parrish

Adversarial instead of truth-seeking engagement is baked into so many aspects of our society Summary: Our society often relies on adversarial advocates for decision-making, but this approach doesn't lead to the truth. We need a cooperative effort where people are open to changing their minds and acknowledging different perspectives. This applies to civic organizations, legal systems, political systems, and even neighborhood associations. We tend to punish those who disagree with the established opinion, leading to a lack of pluralism. We should strive for diverse viewpoints and a cooperative search for the truth. Transcript: Speaker 1 There's a thing wrong with our society which is we have even the institutions that work reasonably well in our society are still often built around adversarial advocates in which the Idea is i will argue as passionately as possible for one side you will argue as passionately as possible for the other side we will deploy whatever resources we can rhetoric money etc And somehow we like to think that by i don't know interpolation that will arrive at the truth and that's totally not true right i mean i we know that there are lots of types of decision-making Where that's a disaster where what you need is not these two sides each of which are deliberately undercutting the other as effectively and including viciously as they can but you want Everybody to be willing to change their mind openly publicly to be willing to publicly acknowledge the point that the other person is making and you want to sense that people are cooperatively Working together toward the truth but that's not how most civic organizations work it's not how our legal system works it's not our political system works nowadays maybe there was Some golden age in the past but it did probably not it's not even how neighborhood associations work right i mean there may be some diversity in how homeowners associations work internally Although i regret to say i don't think that's usually true because they're usually very self-selected groups of people who are quite vocal but once they arrive at a decision they're Like good old-fashioned Maoist democratic centralists you know like well we represent the neighborhood and this is our monolithic opinion and if somebody shows up and says well i Live in that neighborhood but i i actually don't agree then they they get piled on and punished and if somebody says i'm an environmentalist but this environmental organization doesn't Speak for me or i belong to this racial or ethnic group but i don't necessarily agree with what the claimed representatives of that group say that group wants they get punished again A lack of pluralism but i think it's not just a lack of diversity it's this notion that the way to get make decisions is for everybody to hammer their stake as firmly into the ground as they Can

Glen Weyl & Cris Moore on Plurality, Governance, and Decentralized Society

COMPLEXITY: Physics of Life

While Algorithmic Decision-Making Does Suffer From Bias, It Offers the Potential for Unparalleled Transparency In the Decision-Making Process Summary: Algorithms offer a transparent and accountable way for decision making. They can detect bias and perpetuated patterns, but must be transparent, independently audited, and not proprietary or snake oil. Transcript: Speaker 1 And then the response comes back saying yes but if you're basing it on historical data then you're feeding in biases of the past which you're going to propagate into the future there Is a kind of new attitude about all this which is kind of orthogonal to these two axes which I personally find pretty compelling and it's come up in from a couple of different places independently I could drop a few names but let me just say that the attitude is that algorithms at their best offer a new way for decision making to be transparent and accountable that's at their best So you know if an algorithm is something that everyone understands how it works everyone understands why we are chose to use this algorithm how it was trained and it's something which Can be independently audited it's even something which could be tinkered with to see if it could be made more fair and more accurate that kind of algorithm could raise the standard of Decision making in many areas and let us detect bias where it crops up and also help us detect where historical patterns are being perpetuated and what we might do to fix that but the big But is they have to be transparent they have to be independently audited they can't be proprietary and opaque and hidden behind veils of intellectual property and they also can't just Be snake oil right so there is a lot of snake oil out there there's a lot of products being put out to market which have not in any sense been independently verified or validated and where Their users and customers frankly don't really know whether their results ought to be interpreted the way they ought to be interpreted and so there needs to be a lot more critical thinking Aimed at these

Glen Weyl & Cris Moore on Plurality, Governance, and Decentralized Society

COMPLEXITY: Physics of Life

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