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 it available 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.
The Parable of the Ox [More or Less]
The parable of the ox [John Kay]
As I wrote about last month, the hotelier who operates the Toronto property bearing Trump’s name was desperate enough to get shut of it that they had bid millions for the right to change the name of the hotel.
Everyone’s favorite Internet monopoly Amazon looks like it’s about to eat Blue Apron’s lunch. Amazon just announced plans to boy high-end grocery chain Whole Foods last month in June, and has also recently filed for trademarks around prepped meal kit services– that’s Blue Apron’s sole business.
This old Mental Floss post collects salesmans’ miniatures from the 1930s, including mausoleums, swimming pools, Persian rugs, and more — but the gem is this gorgeous neon sample-case.
The current web development landscape is rife with buzzwords and technology that gets abandoned almost as soon as it’s made. If you’ve never written a line of code before, it can be hard to figure out what’s coming, what’s here to stay, or how to get ahead.This Beginner Web Development Bundle is a great place […]
The Fader Stealth Quadcopter from TRNDlabs packs incredible flight performance into a package small enough to land on your phone screen, and it’s available now in the Boing Boing Store.The Fader’s six-axis gyroscope module gives it perfect balance in the air. This makes the onboard 720p HD camera all the better for shooting amazing flight […]
Although fully autonomous vehicles aren’t yet allowed on public streets, they are poised to dominate the roads in the not-too-distant future. But before that happens, Apple, Google, Uber, and other companies now investing in self-driving tech are going to need talented developers that can account for the dizzying array of factors at play when a […]