in_the_real_world   25

Piecing Together Narratives From the 0′s and 1′s: Storytelling in the Age of Big Data - CIO Journal. - WSJ
Feb 16, 2018 | WSJ | By Irving Wladawsky-Berger.

Probabilities are inherently hard to grasp, especially for an individual event like a war or an election, ......Why is it so hard for people to deal with probabilities in everyday life? “I think part of the answer lies with Kahneman’s insight: Human beings need a story,”....Mr. Kahneman explained their research in his 2011 bestseller Thinking, Fast and Slow. Its central thesis is that our mind is composed of two very different systems of thinking. System 1 is the intuitive, fast and emotional part of our mind. Thoughts come automatically and very quickly to System 1, without us doing anything to make them happen. System 2, on the other hand, is the slower, logical, more deliberate part of the mind. It’s where we evaluate and choose between multiple options, because only System 2 can think of multiple things at once and shift its attention between them.

System 1 typically works by developing a coherent story based on the observations and facts at its disposal. Research has shown that the intuitive System 1 is actually more influential in our decisions, choices and judgements than we generally realize. But, while enabling us to act quickly, System 1 is prone to mistakes. It tends to be overconfident, creating the impression that we live in a world that’s more coherent and simpler than the actual real world. It suppresses complexity and information that might contradict its coherent story.

Making sense of probabilities, numbers and graphs requires us to engage System 2, which, for most everyone, takes quite a bit of focus, time and energy. Thus, most people will try to evaluate the information using a System 1 simple story: who will win the election? who will win the football game?.....Storytelling has played a central role in human communications since times immemorial. Over the centuries, the nature of storytelling has significantly evolved with the advent of writing and the emergence of new technologies that enabled stories to be embodied in a variety of media, including books, films, and TV. Everything else being equal, stories are our preferred way of absorbing information.

“It’s not enough to say an event has a 10 percent probability,” wrote Mr. Leonhardt. “People need a story that forces them to visualize the unlikely event – so they don’t round 10 to zero.”.....
in_the_real_world  storytelling  massive_data_sets  probabilities  Irving_Wladawsky-Berger  Communicating_&_Connecting  Daniel_Kahneman  complexity  uncertainty  decision_making  metacognition  data_journalism  sense-making  thinking_deliberatively 
february 2018 by jerryking
E-tailers joining the real world - The Globe and Mail
PAUL ATTFIELD
TORONTO — The Globe and Mail
Published Monday, Jun. 26, 2017

Online retailers establishing a presence in the real world, in addition to their virtual ones, is an emerging trend in retail, not to mention an opportunity for landlords to find a new wave of tenants......“I think the days of being an online-only company are going to be coming to an end, whether that’s three years from now, five years from now or what have you,”.....
e-commerce  bricks-and-mortar  omnichannel  foot_traffic  Vistaprint  online-only  cabinets  in_the_real_world 
june 2017 by jerryking
Freeland moves from the Davos bubble to the real world - The Globe and Mail
KONRAD YAKABUSKI
The Globe and Mail
Published Wednesday, Jan. 11, 2017
......the Davos consensus (i.e. open borders, combined with activist government policies to redistribute income and promote social mobility, are the keys to ensuring global growth and stability. Ethnic and religious diversity as linchpins of modernity, not threats to social cohesion).

It is also a vision inimical to the Trump administration and senior Trump adviser Stephen Bannon, who is tasked with keeping white working-class voters on board the Trump train. In the Bannon world view, globalism, diversity and the nanny state have eroded everything that once made America great. He admires Russian President Vladimir Putin’s skillful cultivation of ethnic and religious nationalism and wants to revive their domestic counterparts in America.....Rex Tillerson has been criticized for putting Texas-based Exxon’s bottom line ahead of U.S. national security interests. But as CEO, that was his job. If he applies himself as effectively on behalf of his country, U.S. foreign policy is likely to be ruthlessly focused. Realpolitik, not values, will dictate policy. Canada may be an afterthought.

Ms. Freeland will need to direct all of her abundant energy to earn the trust of both Mr. Bannon and Mr. Tillerson. The Trump people have no particular animus toward Canada – but they will not do us any favours either on softwood lumber exports or renegotiating the North American free-trade agreement.
cabinets  in_the_real_world  Davos  WEF  Chrystia_Freeland  Donald_Trump  Rex_Tillerson  Konrad_Yakabuski  Exxon  CEOs  NAFTA  Realpolitik  U.S.foreign_policy  whites  social_cohesion  Stephen_Bannon  working_class  open_borders 
march 2017 by jerryking
How Stanford Took On the Giants of Economics - The New York Times
SEPT. 10, 2015 | NYT | By NEIL IRWIN.

Stanford’s success with economists is part of a larger campaign to stake a claim as the country’s top university. Its draw combines a status as the nation’s “it” university — now with the lowest undergraduate acceptance rate and a narrow No. 2 behind Harvard for the biggest fund-raising haul — with its proximity to many of the world’s most dynamic companies. Its battle with Eastern universities echoes fights in other industries in which established companies, whether hotels or automobile makers, are being challenged by Silicon Valley money and entrepreneurship....reflection of a broader shift in the study of economics, in which the most cutting-edge work increasingly relies less on a big-brained individual scholar developing mathematical theories, and more on the ability to crunch extensive sets of data to glean insights about topics as varied as how incomes differ across society and how industries organize themselves....The specialties of the new recruits vary, but they are all examples of how the momentum in economics has shifted away from theoretical modeling and toward “empirical microeconomics,” the analysis of how things work in the real world, often arranging complex experiments or exploiting large sets of data. That kind of work requires lots of research assistants, work across disciplines including fields like sociology and computer science, and the use of advanced computational techniques unavailable a generation ago....Less clear is whether the agglomeration of economic stars at Stanford will ever amount to the kind of coherent school of thought that has been achieved at some other great universities (e.g. Milton Friedman's The Chicago School neoclassical focus on efficiency of markets and the risks of government intervention and M.I.T.’s economics' Keynesian tradition)
economics  economists  empiricism  in_the_real_world  Stanford  MIT  Harvard  Colleges_&_Universities  recruiting  poaching  movingonup  rankings  machine_learning  cross-disciplinary  massive_data_sets  data  uChicago  microeconomics  Keynesian  Chicago_School 
september 2015 by jerryking
Hunting for bird courses with potential - Western Alumni
by Paul Wells, BA'89 January 13, 2015

I never did take that course.

I now wish I had. First, because it’s a bad idea to let yourself get scared away too easily. Second, because out here in the real world, it’s hardly unusual to find yourself dedicating six consecutive hours
of hard work to the pursuit of a worthy goal. I’ve been thinking about the second reason lately. One of the things a university education should prepare you for, arguably — well, I’m going to argue it — is the experience of handling a crushing workload, at least once, at least briefly, and surviving to tell the tale.
Paul_Wells  UWO  alumni  Colleges_&_Universities  self-confidence  grit  hard_work  in_the_real_world 
january 2015 by jerryking
When Uber and Airbnb Meet the Real World - NYTimes.com
OCT. 17, 2014 | NYT | Claire Cain Miller.

Why have these companies run into so many problems? Part of the reason is that they think of themselves as online companies — yet they mostly operate in the offline world.

They subscribe to three core business principles that have become a religion in Silicon Valley: Serve as a middleman, employ as few people as possible and automate everything. Those tenets have worked wonders on the web at companies like Google and Twitter. But as the new, on-demand companies are learning, they are not necessarily compatible with the real world....The belief that problems can be solved without involving people is probably why many of these companies did not meet with regulators and officials before starting services in new cities. And it has come back to haunt them. Luther Lowe, director of public policy at Yelp, had some basic advice for Uber that could apply to Airbnb, Lyft and others: Hire a lobbyist and meet with the mayor and the city council before setting up shop....DESPITE these three major differences between web companies and the ones that bridge the digital and physical worlds, they all share another guiding Silicon Valley principle: the belief that if enough people want to use a product, the company will succeed....Julie Samuels is the executive director of Engine, which advises start-ups on policy...another principle shared by both older and newer tech companies: Regulators are little more than roadblocks standing in the way of innovation.
meat_space  in_the_real_world  Uber  Airbnb  Claire_Cain_Miller  Silicon_Valley  on-demand  lobbyists  regulators  analog  physical_assets  physical_world  physical_economy  cyberphysical 
october 2014 by jerryking
If you ever wondered how math class could help you later in life, here’s your answer - The Globe and Mail
Jun. 18 2014 | The Globe and Mail | ERIN ANDERSSEN

Jordan Ellenberg’s new book, How Not to Be Wrong: The Power of Mathematical Thinking.

In a world brimming with information, math is an important tool to help spot statistical glitches and everyday fallacies, but it’s being lost. “Math is the science of not being wrong about things,” he writes. “Knowing math is like wearing a pair of X-ray specs that reveal hidden structures underneath the messy and chaotic surface of the world.”....Mathematical amateurs have all kinds of reasons to use math. It helps them learn the difference between correlation and causation, to see the flaw in statistics, to spot a sneaky sell.

“Math is the science of not being wrong.” Ellenberg writes. In the real world, it doesn’t just find the right answers – it teaches us to ask the right question in the first place.
mathematics  books  messiness  correlations  anomalies  numeracy  mistakes  sleaze  questions  tools  ratios  asking_the_right_questions  causality  statistics  in_the_real_world 
june 2014 by jerryking
Social Media Upending Privacy in Real World - NYTimes.com
October 14, 2012, 12:00 pm36 Comments
Disruptions: Seeking Privacy in a Networked Age
By NICK BILTON
privacy  social_media  in_the_real_world 
october 2012 by jerryking
Journalism’s problem is a failure of originality - The Globe and Mail
KELLY McBRIDE

The Globe and Mail

Published Friday, Sep. 28 2012

Professional journalism isn’t facing a plagiarism problem. It’s facing an originality failure....We have no way of knowing whether, proportionally, there’s more plagiarism in journalism today than there was 20 years ago. But we do know that commentators now work in very different circumstances. It used to be that local columnists used the phone and their feet. They spent time out of the office, just like their reporter colleagues. They went to the bar, the barbershop, the local college, the courtroom.

Why? Because, that’s where ideas took shape. Talking and thinking, thinking and talking, then trying it out on the keyboard. That’s how writers write. Sometimes, the work was good; more often, it was mediocre. Sometimes, editors sent it back. Whatever the quality, the ideas belonged to the columnist, informed by her reporting and research but grown in the writer’s head....In our panic to keep up with a changing world, we’ve failed to identify new methods for originality. We need to look to the writer-editor relationship, to the community of writers and thinkers and to the very process that writers use to go from nothing to something.

We’re mystified by the prospect of building a culture that breeds original thinking and writing in today’s digital world. Yet, we can look to writers who are successfully hitting the mark of originality and imitate their methods.

Today’s most original successful writers often combine the new and the old to foster their thinking. Writers such as Anne Lamott or columnist Connie Schultz test out their ideas in social media settings such as Twitter or Facebook. And they stay grounded in the real world, allowing for the influence of other people and experiences.
in_the_real_world  journalism  originality  scuttlebutt  thinking  plagiarism  editors  writers  writing  social_media  testing  original_thinking  ideas 
october 2012 by jerryking
Irrational Act
02.14.05 | Forbes | Rich Karlgaard.

Few can can explain why capitalism works. Economists, trapped in the closed loop of supply and demand, can only make a dismal pseudo-scientific hash of it. Out in the real world people are inspired by ideas. Some are even willing to suffer irrational odds in an effort to turn their ideas into innovations. Most fail, but even the failures add to our knowledge. The pursuit of innovation by entrepreneurs willing to give before they get creates discontinuities that shatter the predictable loop of supply and demand. Entropy and monopoly alike are defeated by innovation. That is how capitalism works. It starts with an irrational act of giving.

Why does tithing work? Nobody knows. Only that it does for many.
in_the_real_world  Rich_Karlgaard  capitalism  tithing  discontinuities  innovation  irrationality  leaps_of_faith  ideas  economic_dynamism  economists  ideaviruses 
august 2012 by jerryking
Real-World Advice for the Young
04.11.05 | Forbes | Rich Karlgaard.

We owe our young people ...a set of "road rules" for the real world.

Purpose. Every young person needs to know that he was created for a purpose. ...I would, however, argue that there is also an economic purpose to our lives. It is to discover our gifts, make them productive and find outlets for their best contribution.

Priorities. The best single piece of advice from Peter Drucker: Stop thinking about what you can achieve; think about what you can contribute (to your company, your customers, your marriage, your community). This is how you will achieve. Enron had an achievement-first culture; it just achieved the wrong things...how many schools teach young people to think in terms of contribution?

Preparation. Lest you think I'm urging young people down a Mother Teresa-like path of self-sacrifice, I'm not. The task is to fit purpose and contribution into a capitalistic world. There is a crying need for prepared young people who can thrive in a realm of free-market capitalism. This great system works magnificently, but it doesn't work anything like the way it's taught in most universities. In the real world, the pie of resources and wealth is not fixed; it is growing all the time. In the real world, the game is not rigged and static; rather, money and talent move at the speed of light in the direction of freedom and opportunity. In the real world, greed is bad (because it takes your eye off customers), but profits are very good. Profits allow you to invest in the future. In the real world, rising living standards do not create pollution. Instead, they create an informed middle class that wants and works to reduce pollution.

Pan-global view. The economy is global.... There is no going back.

Partner. Many of the great startups of the last 30 years began as teams of two...Behind this phenomenon is a principle: Build on your strengths. To mitigate your weaknesses--and we all have them--partner up! Find your complement.
Perseverance. Young people are smarter and more sophisticated today. It's not even close. My own generation's SAT scores look like they came out of baseball's dead-ball era. But apart from the blue-collar kids who are fighting in Iraq, most American kids today are soft. That's a harsh statement, isn't it? But cultural anecdotes back it up. Kids weigh too much. Fitness is dropping. Three American high schoolers ran the mile in under four minutes in the 1960s. It's been done by one person since. Parents sue coaches when Johnny is cut from the team. Students sue for time extensions on tests. New college dorms resemble luxury hotels. College grads, unable to face the world, move back in with their parents and stay for years.

Does this sound like a work force you'd send into combat against the Chinese?
in_the_real_world  Rich_Karlgaard  advice  Peter_Drucker  youth  students  entrepreneurship  partnerships  rules_of_the_game  purpose  globalization  Junior_Achievement  perseverance  millennials  serving_others  priorities  preparation  profits  greed  fitness  talent_flows  capital_flows  static  risk-mitigation  complacency  blue-collar  Chinese  capitalism  self-sacrifice  young_people  anecdotal 
august 2012 by jerryking
The Trouble with Big Data
May 5, 2012 | | What's The Big Data?| GilPress

“With too little data, you won’t be able to make any conclusions that you trust. With loads of data you will find relationships that aren’t real… On net, having a degree in math, economics, AI, etc., isn’t enough. Tool expertise isn’t enough. You need experience in solving real world problems, because there are a lot of important limitations to the statistics that you learned in school. Big data isn’t about bits, it’s about talent.”.....The “talent” of “understanding the problem and the data applicable to it” is what makes a good scientist: The required skepticism, the development of hypotheses (models), and the un-ending quest to refute them, following the scientific method that has brought us remarkable progress over the course of the last three hundred and fifty years.
in_the_real_world  massive_data_sets  blogs  skepticism  challenges  problems  problem_solving  expertise  statistics  talent  spurious  data_quality  data_scientists  haystacks  correlations  limitations 
june 2012 by jerryking
globeadvisor.com: Living in the real world of finance
December 9, 2011 | G&M | by David Parkinson.
Both a scientist and financial guru, Emanuel Derman warns of relying on mathematical models to predict stock movements. As David Parkinson reports, investors should beware the wild card of human nature...Mr. Derman was in Toronto discussing his new book, Models. Behaving. Badly: Why Confusing Illusion With Reality Can Lead to Disaster, on Wall Street and in Life.

DAVID PARKINSON
boundary_conditions  finance  quantitative  Wall_Street  Colleges_&_Universities  books  physics  models  mathematics  stockmarkets  biases  modelling  dangers  false_confidence  human_factor  stock_picking  illusions  oversimplification  in_the_real_world 
january 2012 by jerryking
Separating races is not the answer
Oct 12, 2005 |The Globe and Mail. pg. A.22 |

...And why does it want this? Because black youths are shooting one another in the street. Ergo, says the coalition, society is failing black people. The school system, the justice system and the police are failing them. Even multiculturalism is failing them, because it presupposes an open society of equals rather than the real world in which blacks face racism and discrimination. Multiculturalism "doesn't allow us to focus on communities that are in crisis and need a targeted approach," Margaret Parsons, the executive director of the African Canadian Legal Clinic, told a Toronto newspaper. "It does not address racism."

This is quite stunning. Agencies that have been sitting on the sidelines for years have decided within two months that they have the answer. When community activist Dudley Laws declared in the summer of 2001 that at least 94 black youths had been killed by other black youths since 1996, the silence from black community groups was deafening. Now those groups wish to pick up their ball and bat and go home.

Segregating people by race, voluntary or otherwise, is not a solution. It compounds the problems of poverty, exclusion and related pathologies, including rampant fatherlessness and its flip side, out-of-control youth. Creating separate offices and separate schools, and tearing down behavioural codes that apply to everyone, will send a destructive message to everyone: that people do not have to live together, that separate is not so bad as long as it is equal.
ProQuest  in_the_real_world  segregation  African_Canadians  violence  killings  silence  editorials  dysfunction  fatherhood  family_breakdown 
november 2011 by jerryking
The games customers play
October 6, 2011 | Report on Small Business | Omar El Akkad.
Gamification can make your brand appealing and addictive

Gamification refers to a strategy whereby interactions with a brand are made more appealing and addictive to consumers by incorporating tricks from the gaming world, such as high-score tables and achievement badges. Are such "achievements" almost completely worthless in the real world? Yes. Do consumers become mindlessly addicted to them anyway? Yes.

2. Think of gamification as a way of creating an Aeroplan-like loyalty program at a tiny fraction of the cost. Many businesses implement loyalty programs such as "get the 10th coffee free" cards. But Zichermann says free stuff is actually at the bottom of the list of what customers want. He uses the acronym SAPS: status, access, power, stuff. Those are the things loyal customers want, in that order. As such, lunch with the owner or a 15-minute head start on a sale for your best customers might be far more effective than a free coffee.

3. Figure out where your product fits into your customers' lives and help make that experience more meaningful.
in_the_real_world  games  Omar_el_Akkad  branding  gamification  loyalty_management  perks  customer_loyalty  customer_insights  hiring-a-product-to-do-a-specific-job  Aeroplan  Aimia  brands 
october 2011 by jerryking
Do you belong to the Elites? Take this test and see!
Nov. 6, 2010 |G &M | John T. First, the problem isn't
"elites" vs. "anti-elites" - that's what those who benefit from the
bickering between "left" and "right" want us to think. The problem is
that most of us have no critical thinking skills, without which, we fall
victim to false ideas (e.g. that the problem with society is that the
"elites" don't understand the "real world"). The real problem is that
most people, elites & non-elites alike, don't have a clue, &
can't figure it out for themselves. The problem is not just that the
elites have no idea how the rest of the world lives...the opposite also
holds true. Wente's "elite" may not understand NASCAR, but it's likely
that her avg. "elite" knows more about NASCAR than the avg. NASCAR fan
knows about NPR. No, the problem is not where you were educated, but IF
you were educated, and even more important, if you really learned
anything--because the majority of the educated didn't learn critical
thinking skills.
commentators  elitism  critical_thinking  Margaret_Wente  anti-intellectualism  in_the_real_world 
november 2010 by jerryking
Guy’s house burns down because he didn’t pay $75 fee!!!
(WARNING: I am extremely pissed off right now)

Where the F*ck is common decency? What if this was your mother’s home burning down?!  This story fires me up beyond belief (no pun intended)…  In a nut shell, a homeowner didn’t pay the $75 yearly fee to have access to the fire service, so when he called 911 to get someone out to stop it from burning to the ground they said they couldn’t help him. From the story:

“Gene Cranick of Obion County and his family lost all of their possessions in the fire, along with three dogs and a cat. “They could have been saved if they had put water on it, but they didn’t do it,” Cranick told MSNBC’s Keith Olbermann.”… Firefighters did eventually show up, but only to fight the fire on the neighboring property, whose owner had paid the fee.”They put water out on the fence line out here. They never said nothing to me. Never acknowledged. They stood out here and watched it burn,” Cranick said.”

This sickens me. That no one would stand up and have the decency to cut the bull$hit and save the house?  And even worse, the FOUR ANIMALS that were killed because of them?  Come ON.  If I were PETA I’d be all on that.  Over a measly $75 that was or was not forgotten on purpose (yeah, obviously they should have paid it – but does that justify it?!! You can’t collect it afterward and apply some fee or something for being an idiot?).

And what if there was a person in there? I’d like to think they’d have gotten off their asses to save a HUMAN LIFE, but in all honestly who knows…  Wouldn’t want to break any rules!

I’m sorry for ranting like a lunatic here, but it’s stuff like this just saddens me about this world. People stuck in their boxes and too afraid to think for themselves and do what’s RIGHT – regardless of the structure set up around them.  I hope this story gets even more viral to wake others up and remind us to have some compassion. No one should lose their home and pets over $75.00, that’s ridiculous.

——–
(Photo by 111 Emergency – not the house in question)






Possibly related posts:Pay off Student Loans, or Save for House?
The new super sexy House Budget!
Sure we financed our house 100%, but ya know what? It works
cockamamy_indeed  get_your_brain_right  home_ownership  in_the_real_world  morality  rant  from google
october 2010 by brigandballoonist
How Rich ARE You?
I was forwarded this site from a good friend of mine (Mr. Coffee Cents himself) and it turns out I’m pretty RICH! The 49,322,169th richest person in the world to be exact ;)  But what’s crazy about this is that I fall into the Top 1% of the world’s wealthiest people.  THE WORLD’S.

That means 99 out of every 100 people living and breathing today are making less than $75,000 a year – the number I plugged into this Global Rich List. That’s insane man.  And do you know what happened when I plugged in $50k?  It barely moved. $50k is *still* in the Top 1% of the richest people in the world.  In fact, I kept going lower and lower until I hit pretty much rock bottom – do you want to guess what that number is?  Check it:

At a $40,000 salary: Top 3.17%
At a $20,000 salary: Top 7.16%
At a $5,000 salary: Top 14.39%
At a $2,000 salary: Top 17.62% (not even considered “poor” yet!)
At a $1,000 salary: Top 44.1%
At a $500 salary: Top 80% (now “poor” – but still beating 20% of the world)
At a $200 salary: Top 95.71%

And then it pretty much drops off. 60% of the world makes less than $1,000 a year! If you aren’t feeling thankful now, something’s wrong with you.  No matter how much debt or financial crap is going on in your lives.  We are very blessed to be living in the U.S.! Or Canada or England or wherever else you’re reading this right now :) We may not feel rich, but you better believe we are.

The only thing I don’t like about this calculator is that it bases all this wealth on salary. Which, as we all know (or *should* know), does NOT necessarily mean someone’s well off.  Or even close to being well off. I mean, it’s still better than 99% of the world, of course, but not in the way you and I think about what being “rich” means.  The true measure of financial success is the way you MANAGE it all – your spending and saving habits. There are plenty of people out there making 6 or 7 figures who are still struggling to get by!  I know of one myself, actually, and to think I have a higher net worth than he does blows my mind.

But the point of all this is just to really think about how lucky we should feel for being in the positions we are.  We all have shelter. We all have food and water. Most of us still have our health and our loved ones nearby. In the general scheme of things – we are ALL rich!  And unfortunately it takes a silly calculator sometimes for us to realize it.






Possibly related posts:Would I be rich if I earned $150k a year? I think so :)
Would You Rather…Be UGLY and rich, or HOT w/ less?
If a millionaire told you how to be rich, would you listen?
get_your_brain_right  in_the_real_world  life  tools_and_resources  from google
may 2010 by tinynow

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