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capitalism is a system so good that even the socialists can become millionaires


An MIT professor asked a student to pick one of 3 doors in front of the whole class One has a car, two have goats, the professor opens one → it's a goat "Want to switch?" The student switches, the entire class thinks he's wrong He's not Switching wins 66.7% of the time, staying wins 33.3%, your odds literally double by switching When Marilyn vos Savant published this answer in 1990 she received 10,000 letters Telling her she's wrong, around 1,000 from people with PhDs Paul Erdős, one of the greatest mathematicians ever, refused to believe it until he saw a computer simulation // Your brain sees two doors and defaults to 50/50, but the host knows where the prize is When he opens a door he's giving you information and that information changes everything > Same thing happens on prediction markets every day A contract trading at 50¢ looks like a 50/50 trade, but the price isn't the probability It's what the crowd thinks the probability, just like 1,000 PhDs were wrong about three doors New information hits the market, a poll drops, a deadline shifts and key player makes a move The probability changes but most traders sit on their original position, even though the door should be switched Bookmark it & watch the scene below from the film "21" How an MIT classroom get this wrong in real time ↓



Kevin O'Leary says you can become a millionaire on $69,000 a year. “Take 20% of your salary of $69,000 and put it into the market each week and don't touch it”





















