An excellent recent episode of the BBC Radio 4 math/current affairs show "More or Less" dramatized "The Parable of the Ox," a short article by John Kay originally published in the Financial Times (paywalled, alas, or I'd link to itavailable from Kay's site). Fans of James Surowiecki's Wisdom of the Crowds will know the first part of this story -- wherein the average of several guesses about the weight of an ox was more accurate than the guesses of any of the experts in the crowd. What this podcast and the article adds is a coda about how the use of "guesses" (or stock trades) as a way of weighing the ox quickly departed from guesses about the weight of the ox (or the value of a firm) and turned into guesses about other peoples' guesses about other peoples' guesses -- a financialized system that soon has no connection to the real economy or the real ox. And it ends, predictably enough, when the ox dies.
In 2012, Google rolled out Certificate Transparency, a clever system to spot corrupt “Certificate Authorities,” the entities who hand out the cryptographic certificates that secure the web. If Certificate Authorities fail to do their jobs, they put the entire electronic realm in danger — bad certificates could allow anything from eavesdropping on financial transactions to […]
With the shambolic FARC peace deal finally in place, the Colombian government is hoping to shift the country’s farmers from Colombia’s major cash crop: the coca leaves that are refined into the world’s cocaine supply. Perhaps with the guerrillas no longer defending the crops they relied on for operating capital, Colombia can put coca behind […]
Despite Trump’s denial of climate change the the ghastly attacks on climate science and mitigation in the new proposed budget, the Carbon Bubble — which overprices hydrocarbons and the industries that rely on them, as though we’ll be burning all of them with impunity — is about to pop.
Custom coffee vessels are the perfect piece of office flair, but it’s just a matter of time before your VOTE FOR PEDRO mug will start to lose its relevant wit. Why not have a new one every day, with whatever silly nonsense you want sticking off the sides? You can save big on your novelty […]
The Lightning port has thus far resisted the cruel fate that befell the headphone jack, and despite rumors that it may be disappearing come iPhone 8, for the present and foreseeable future, Lightning cables are a hot commodity for iPhone users. As such, we must make do in this strange time in which long, glorified […]
All the filters in the world won’t save your smartphone pics from a shaky hand. To really step up your mobile photography game, you’ll need some kind of mount to hold it steady. You could buy a smartphone attachment for a conventional camera tripod, but who wants to carry that kind of gear everywhere they […]