The Path Dependence of Startups Part 2: Sugarscape
How do economies begin? That was something that Joshua Epstein and Robert Axtell wanted to know. So they built a simulation of an economy that they called Sugarscape. They built a virtual landscape that was overlaid with a 50×50 grid. The landscape was endowed with sugar in various locations, and with [...]
Social Media and Stupidity As An Externality
I still get the paper edition of The Economist, and I almost never read it online. Yes, blasphemy I know. Here is the deal though - a paper magazine is a different experience than reading online. For me, it is a better experience because I can take it places where I don’t [...]
Buffett in 1974: A Reminder For Turbulent Times
If you have never read Buffett: Making of an American Capitalist, you really should. It is excellent. In this falling market, it sometimes makes sense to remember what the Oracle of Omaha did during one of the worst bear markets of his early career. This story comes directly from the book.
Meanwhile, [...]