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Models Will Run the World
Companies in which a closed loop machine learning model is at the heart of the business will have a large, growing competitive advantage and will dominate industries. Examples are Netflix and Amazon, but the authors assert that this is happening in traditional businesses as well. Data driven businesses — the previous tech wave — are helped by superior data and analytics. Model-driven businesses, as defined by the authors, ARE the business.

The authors argue that the completeness of the closed loop will drive the value of the business.

Unexplored in the article is the principle that these closed loop businesses need data strategies to acquire, integrate, maintain and improve the data feeding the models. While the operation of the model acquires decision feedback — a critical component of the equation — a much broader river of data is needed to create and grow the model and its business value.

PDF at https://www.dropbox.com/s/15ihmmjmul5uovq/Models%20Will%20Run%20the%20World%20-%20WSJ%20-%2020Aug18.pdf?dl=0
AI  ML  Technology  WSJ 
7 hours ago by richardwinter
Trump Revokes Ex-CIA Director John Brennan’s Security Clearance
“In an interview Wednesday, Mr. Trump cited Mr. Brennan as among those he held responsible for the investigation, which also is looking into whether there was collusion between the Trump campaign and the Kremlin. Mr. Trump has denied collusion, and Russia has denied interfering. Mr. Brennan was director of the Central Intelligence Agency in the Democratic administration of former President Obama and one of those who presented evidence to Mr. Trump shortly before his inauguration that Russia had interfered in the 2016 election. ‘I call it the rigged witch hunt, [it] is a sham,’ Mr. Trump said in an interview. ‘And these people led it!’ He added: ‘So I think it’s something that had to be done.’”

Jay Sekulow sighs ruefully and resets the DAYS SINCE THE PRESIDENT PUBLICLY CONFESSED TO OBSTRUCTION OF JUSTICE sign hanging in his office to zero.
usa  politics  intelligence  trump  corruption  wsj 
4 days ago by syskill
Why Americans Spend So Much on Health Care—In 12 Charts - WSJ
Prices are hidden behind insurance deals, hospital consolidation pushes up costs and the health sector is a growing power in the economy via Pocket
IFTTT  Pocket  healthcare  wsj 
5 days ago by shj333
Hardly Anyone Wants to Admit America Is Beating Poverty - WSJ, Bruce D. Meyer and James X. Sullivan , Aug 2018
"poverty has declined significantly over the past 50 years, but neither side has recognized the major progress that has been made."

"Instead of focusing on reported incomes, our work measures poverty based on consumption: what food, housing, transportation and other goods and services people are able to purchase. This approach, which captures the effect of noncash programs and accounts for the known bias in the CPI-U, demonstrates clearly that there is much less material deprivation than there was decades ago. "
WSJ  opinion  poverty  US 
9 days ago by pierredv
Don’t Clam Up When Life Brings You Down
Why do we of­ten feel the need to pre­tend our lives are bet­ter than they re­ally are? When you’re fight­ing to keep your­self go­ing, some­times what can help is a proper, out-loud ac­count­ing of what you’re go­ing through. Ad­mit­ting that your life is not ex­actly the Coun­try Fair Jam­boree may be the first step to get­ting it there.

At a low point in my life, when it was a chore just try­ing to keep out of bed, I ven­tured into a bar that I knew wasn’t very pop­u­lar. There I sat down in front of a bar­tender who turned out to be ex­actly my age.

I as­sumed he was do­ing bet­ter than I was, so when we started talk­ing, I scarcely went into my trou­bles. But he, too, was in a trough of one of life’s waves. With­out hes­i­ta­tion, he told me that he was col­lect­ing un­em­ploy­ment, his hours at the bar were few, and he couldn’t find work in his ac­tual pro­fes­sion.

That bar­tender be­came my friend. I re­spected his can­dor, which made it eas­ier for me to share my own prob­lems. When he first told me that he was push­ing 40 and un­able to find work, he didn’t come across as frag­ile. In­stead my thought was: “This guy is im­pres-sive. He’s solid in his be­lief about him­self. He has a prob­lem to deal with, and he knows there’s no point in try­ing to save face by pre­tend­ing it’s not there.”
Achievement  WSJ  Health 
9 days ago by richardwinter
How The Wall Street Journal is revamping its newsletters — and trying to add some whimsy » Nieman Journalism Lab
Inviting readers to share their thoughts in a two-way exchange isn’t a new concept either, but not many publishers’ newsletters actually allow subscribers to easily contact their writers. Now, all migrated newsletters have a designated Journal editor in the reply-to field, and Dooling has been helping editors get the hang of managing the responses. “I’ve got 12 years of community managing experience. I always get questions about commenting platforms and that sort of thing, but it’s interesting how you can build community so much into email,” she said.
email  wsj  t  s 
11 days ago by paulbradshaw
Run the Numbers on Your Retirement Plan. Now Do It Without Social Security. - The Experts - WSJ
Ted Jenkin (@tedjenkin) is the co-CEO and founder of oXYGen Financial, a financial advisory practice focused on the X & Y generations. He also blogs at yoursmartmoneymoves.com. via Pocket
IFTTT  Pocket  retirement  wsj 
21 days ago by shj333
How to Spend an Indulgent Day in Madrid for $2,400—or $400 - WSJ
Very deep pockets are not required in Madrid, where you can acquire an abundance of basic survival needs—food, wine and culture—quite reasonably. But if your lifestyle depends on rare vintages and astronomical thread counts, the city can handily deliver those too. via Pocket
IFTTT  Pocket  travel  vacation  wsj 
21 days ago by shj333

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