Walt Disney gained worldwide fame with the animated film ‘Steamboat Willie,’ but Disney’s first studio went bankrupt. By the mid-1930s, he had produced over 400 animations, most of which suffered heavy losses. In 1938, Snow White and the Seven Dwarfs made $8 million in just the first half—more than ten times the earnings of other films. Meanwhile, with this animation, the company paid overdue wages to its employees and recovered the losses it had sustained. An unusual event that changes everything is called a “tail event.” 40% of publicly listed companies in the U.S. stock market lose nearly all their market capitalization 10 years after going public. Business and investing, after all, are based on probabilities. No one knows what the “tail event” will be. Therefore, to succeed, you need to try small, steady, many times with little impact, even if you fail. - Joseph’s “just my thoughts”
How do AIs learn? For humans to learn, they must first express their will. In AI, the flow of electricity takes the place of human will. AI learning involves recording, comparing, and making decisions; currently, computation is the only necessity. Humans learn through similar pathways and mechanisms, but the importance of expressing will tends to be essential in human history. People often respect those who excel at learning, as it is not easy to demonstrate will. However, AI substitutes all entities with symbols of electrons and operations instead of will. Doesn’t placing too much value on the will actually impede human learning? Learning stems from comparison and decision-making. Management functions similarly. - Joseph’s “just my thoughts”