Longreads + Open Thread

AI Economics; Industry & Academia; Google; Hacks; Rust; Just-in-Time; Inequality; Gates



Open Thread

Reader Feedback

Taylor Pearson responds to last week's Longreads, particularly to the link on volatility:

Would quibble with the Verdad piece that you need an asterisk that volatility is a better measure of risk for assets with negative skew than ones with positive skew. You tend to see a decent difference between Sharpe and Sortino in trend strategies for instance where there is positive skew.

This is true! Volatility represents risk within some bounds, but there are definitely cases when an investment outcome is sensitive to some specific real-world binary outcome, and if that outcome is fundamentally unpredictable, volatility will be an imperfect-at-best measure of risk.

And from Nick Mazing, Director of Research at AlphaSense, responding to Thursday's Three Stories of Ads and Scale ($):

Incidentally, I went through the redlined (aka blacklined) META 10-K yesterday, and spotted that the word "growth" is often now replaced with "scale". Exact match search, growth dropped from 81 hits to 37 hits. Scale is up from 15 to 23.

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