Neil Hoyne: “Companies seem to believe that data is the new oil and therefore the more they can capture, eventually they will be able to convert it to some type of value. And that leads to a dramatic underinvestment in the second part of the equation, which is, what do we do with all this data? And so generally you find these under-funded, under-led data scientists who are given this broad problem, ‘Go find this value,’ without leaders translating it to say, ‘What is the business goal? What is the business objective?’ They’re not seeing their data applied to anything and that’s because for most leaders that are asking that question, they’re not necessarily taking a step back and asking: What is it that you’re hoping to get out of that data? What are those business questions you’re trying to answer?”
Richard Ebeling: “The last 100 years have seen more than one instance in which it seemed that the ideas and institutions of the free-market society were heading for inescapable defeat, but each time the collectivist forces have failed to achieve their full objectives. True enough, they have regrouped and reorganized their next ideological and political assault on the remaining elements of a free society. But their failure to gain full victory has been due to the resistance of the surviving ideas of market liberalism that have endured. Our task is to do all in our power and ability to revive an understanding of and inspire a desire to preserve, restore, and extend the ideal and practice of the truly free society. But it will take a growing number of us to see the importance of the non-fatalistic willingness to “man the pumps” so the capitalist ship can not only stay afloat but also be philosophically and ideologically rebuilt even more firmly than it ever was before.”
Nathan Goodman on the ABCs of electoral politics: Asymmetric information, Bundling, Counterfactuals.
