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Nobel Prize-winning economist explains how a 300 y/o model predicted Uber, with Vernon Smith, Nobel Prize-winning Economist

Spontaneous order means the "spontaneous emergence of order out of seeming chaos," and it's something we see daily in both our social and economic lives.

Nobel Prize winner Vernon Smith believes that we see spontaneous order much more often in our everyday social and economic life than we know - such as in the form of apps like Uber and Lyft.

The founders of both ride-share platforms understood that one algorithm could digitally encompass the thousands of cab companies, taxi drivers, and passengers, creating a streamlined process out of something that once seemed so complex, dispersed, and chaotic. Today, these customary transportation apps not only make our lives simple and organized but modern-day spontaneous order in action.

This video was created in partnership with the Institute for Humane Studies.

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About Vernon Smith:

Vernon L. Smith was awarded the Nobel Prize in Economic Sciences in 2002 for his groundbreaking work in experimental economics. Dr. Smith is a distinguished fellow at the Institute for Humane Studies, has joint appointments with the Argyros School of Business and Economics and the Fowler School of Law at Chapman University. He has authored or coauthored more than 350 articles and books on capital theory, finance, natural resource economics and experimental economics.

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Economist Tyler Cowen explains why you should not hire the smartest job candidate. Here’s what to look for instead. What do Aretha Franklin, Bruce Springsteen, Bob Dylan, and Stevie Ray Vaughan have in common? In addition to being phenomenal 20th-century musicians, all were scouted or had their careers furthered by the American record producer John Hammond. Finding talent is a talent in itself. And to the author and economics professor Tyler Cowen, it is a talent that gets neglected in many companies, whether due to biases, boring hiring practices, or a failure to think outside the box. As Cowen explains in this Big Think video, the way to go about finding exceptional talent is by searching the areas where the rest of the market is not looking.

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Chapters:-

0:00 The talent problem

0:58 John Hammond: A legendary talent scout

2:06 The intelligence bias

3:37 Discover undervalued talents

5:56 The FOMO mentality: Learning from venture capitalists

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About Tyler Cowen: Tyler is the Holbert L. Harris Chair of Economics at George Mason University and serves as chairman and general director of the Mercatus Center at George Mason University. He is co-author of the popular economics blog Marginal Revolution and co-founder of the online educational platform Marginal Revolution University. Tyler also writes a column for Bloomberg View, and he has contributed to The Wall Street Journal and Money. In 2011, Bloomberg Businessweek profiled Tyler as “America’s Hottest Economist” after his e-book, The Great Stagnation, appeared twice on The New York Times e-book bestseller list. He graduated from George Mason University with a bachelor's degree in economics and earned a Ph.D. in economics from Harvard University. He also runs a podcast series called Conversations with Tyler. His latest book Talent: How to Identify Energizers, Creatives and Winners Around the World is co-authored with venture capitalist Daniel Gross.

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About Big Think | Smarter Faster™ ► Big Think The leading source of expert-driven, educational content. With thousands of videos, featuring experts ranging from Bill Clinton to Bill Nye, Big Think helps you get smarter, faster by exploring the big ideas and core skills that define knowledge in the 21st century. ► Big Think+ Make your business smarter, faster.

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How do people actually get promoted? According to Harvard career coach Gorick Ng, it’s all about knowing the unspoken rules for success. The workplace isn’t a level playing field for a number of reasons. When you aren’t in a position of privilege, how do you get ahead and score that coveted promotion? According to Harvard career coach Gorick Ng, it’s all about knowing the unspoken rules for success. Keeping your head down will only get you so far, Ng believes. What sets the rising stars apart from the stagnant are the relationships they build, the impact they make, and their clear desire to understand their manager’s objectives even when they aren’t made overtly explicit. Ng shares tips for how to make your mark in your workplace and achieve your professional growth goals.

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About Gorick Ng: Gorick Ng is the Wall Street Journal Bestselling Author of The Unspoken Rules: Secrets to Starting Your Career Off Right, one of Thinkers50’s top 10 management books. Harvard Business School gifted it to every MBA student to give them an edge in the professional world. A widely-requested speaker across the world’s most recognized institutions from Stanford to IBM, Ng helps employers build an ownership mindset within their teams and empowers educators to improve career readiness among their students. Ng is a career adviser at Harvard College, specializing in coaching FGLI (first-generation, low-income) students. He is also on the faculty at UC Berkeley, where he teaches the unspoken rules of career navigation, now available as an online course on his website. He has been featured in The New York Times, TED, CNBC, Financial Times, Fast Company, Fortune, Forbes, and The Today Show. Ng, a first-gen college student, is a graduate of Harvard College and Harvard Business School. Each week, Ng shares career strategies through “Did You Know?,” a newsletter deconstructing the untold paths to success of people (and things) you know

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He co-created one of TV’s funniest shows. He still felt like a failure in his 30s. This is comedian Neal Brennan’s story about conquering toxic self-talk.

We all tell lies to ourselves about ourselves, usually in the form of vicious inner criticism. Neal Brennan, seasoned comedian and one of the brilliant minds behind “Chapelle’s Show,” confronted his inner critic on video for our entertainment. Despite being instrumental in one of the most successful comedy shows of all time, there was a time when Brennan didn’t think he had much to show for himself, especially not as a solo entertainer. The eventual demise of “Chappelle’s Show” led him down a dark path of self-doubt and, then, rediscovery. Brennan worked 12-step programs, ventured into the world of psychedelics, and even tried magnetic brain manipulation to break out of his despair. Now, he has a new perspective on the value of going it alone. Turns out, it isn’t quite so bad. About Neal Brennan: Three-time Emmy nominated writer, director, producer, and standup comedian Neal Brennan has become a force in the comedy world. An across-the-board talent, Neal has found success in almost every creative vein in the comedy landscape. Hailed by The Hollywood Reporter as “Hollywood’s Comic Whisperer” and lauded by The New York Times as having a “hip-hop and Frontline aesthetic,” he has collaborated with top talent both in front of and behind the camera for three decades. Neal’s most recent one-man show Neal Brennan: Unacceptable enjoyed a sold-out run in NYC in 2021 with The New York Times offering “Brennan starts off with a regular joke format before turning toward introspection as he exposes his doubts, neuroses and vulnerabilities.

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Can AI and animals coexist? Philosopher Peter Singer gives us a nuanced take on the issue. Philosopher Peter Singer explores the impact of AI on animals, using historical parallels in how humans have previously used technology to exploit nature. He discusses AI's current applications in factory farming and wildlife management, which are already raising ethical concerns. Singer believes AI should not only serve human interests, and that we should consider how it impacts all sentient beings as we continue to develop it. He also delves into the philosophical question of AI surpassing human intelligence, its potential consciousness, and moral status, emphasizing the need for government standards akin to animal welfare regulations.

Chapters For Easier Navigation:

0:00 How will AI and animals coexist?

0:30 Technology has hurt animals in the past

0:55 AI’s current application to animals

1:35 AI’s possible benefits for animals

2:30 Is AI conscious?

3:25 Will we be able to control AI?

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Adam Grant's #1 phrase to unlock potential

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Beat anxiety with the most addictive experience on Earth

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About Peter Singer: Peter Singer has been described as the world’s most influential philosopher. Born in Melbourne in 1946, he has been professor of bioethics at Princeton University since 1999. His many books include Animal Liberation - often credited with triggering the modern animal rights movement - Practical Ethics, The Life You Can Save, The Most Good You Can Do, and Ethics in the Real World. In 2023, he published Animal Liberation Now, a fully revised and updated version of the 1975 original. Singer’s writings have also inspired the movement known as effective altruism, and he is the founder of the charity The Life You Can Save. In 2021 he was awarded the $1 million Berggruen Prize for Philosophy and Culture, which he donated to nonprofit organizations working for the causes he supports. In 2023 he received the Frontiers of Knowledge Prize for the Humanities, from the Spanish BBVA Foundation...

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How concentrated solar power could fuel the future

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What if we could not only harness the power of the sun, but actually use it to run the entire planet?

Concentrated solar power (CSP) has the potential to do just that — using arrays of revolving mirrors called heliostats, light is reflected into a massive receiver. Thanks to recent advancements in technology, the cost to replicate these Sunlight Refineries™ is dropping. Soon solar energy will be cleaner and cheaper than using fossil fuels, which could mean adoption on a global scale.

Heliogen, a company founded by Bill Gross and backed by Bill Gates, wants to eliminate all uses of fossil fuels. Using cameras, AI, and machine learning, they are working to make these CSP systems smarter and much more efficient.

This episode is from Hard Reset, a Freethink original series about rebuilding the world from scratch and reimagining everything from first principles.

Catch more Hard Reset episodes on their channel: https://www.freethink.com/shows/hard-...

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TRANSCRIPT:

NARRATOR: This might look like a death ray, but it's not. It's actually...

One enormous, very accurate magnifying glass.

NARRATOR: This magnifying glass has a technical name, a sunlight refinery. To use it, find somewhere really sunny, plop down a bunch of mirrors, bounce the sunlight into a single spot and you can melt just about anything. Okay, so it is kind of death ray-ish. Why do this? Because manufacturing steel or cement requires a lot of heat and making something super hot has historically meant burning dinosaurs...

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Negotiation isn’t about logic & reason. It’s about emotional intelligence, explains former FBI hostage negotiator Chris Voss.

Emotional intelligence and tactical empathy are key to successful negotiating, says former FBI hostage negotiator Chris Voss. He highlights the value of understanding and addressing the other party's emotional standpoint in both business and personal negotiations. By doing so, people can make better deals and foster long-term relationships. Voss emphasizes the importance of addressing people's fears and practicing tactical empathy through labeling. This approach involves identifying and acknowledging the emotions involved in the negotiation. By listening carefully and discerning the underlying motivations and concerns, negotiators can guide discussions more effectively and achieve mutually beneficial outcomes. Being nice to others can often lead to surprising results, proving the power of empathy and understanding in negotiations.

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chapters for easier navigation:

0:00 What drives people?

1:18 Negotiation is NOT about logic

2:14 1. Emotionally intelligent decisions

3:00 2. Mitigate loss aversion

4:48 3. Try “listener’s judo”

5:54 Practice your negotiating skills

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About Chris Voss: Chris Voss is the Founder and CEO of the Black Swan Group Ltd. He has used his many years of experience in international crisis and high stakes negotiations to develop a unique program and team that applies these globally proven techniques to the business world. Prior to 2008, Chris was the was the lead international kidnapping negotiator for the Federal Bureau of Investigation, as well as the FBI's hostage negotiation representative for the National Security Council's Hostage Working Group. During his government career he also represented the U.S. Government at two (2) international conferences sponsored by the G-8 as an expert in kidnapping. Prior to becoming the FBI lead international kidnapping negotiator, Christopher served as the lead Crisis Negotiator for the New York City Division of the FBI. Christopher was a member of the New York City Joint Terrorist Task Force for 14 years.

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In this insightful episode, behavioral scientist Wendy Wood challenges the negative perception of habits in psychology. She explores the profound impact habits have on human behavior, often operating beneath our conscious awareness. Through a compelling example from the 1980s, Wood illustrates the power of habits in influencing everyday choices, emphasizing the role of "friction" as barriers to behavior change. The episode delves into the science behind habit formation, highlighting the crucial role of rewards and dopamine release. Wood emphasizes the importance of working with one's environment to facilitate behavior change and explores how habits contribute to a sense of meaning and control in life. The episode concludes with a reflection on the effectiveness of rituals, drawing parallels with professional athletes who harness habits for confidence and success. This interview is an episode from The Well, our new publication about ideas that inspire a life well-lived, created with the John Templeton Foundation. Bad habits can be challenging to change due to friction — that is, the time and effort it takes to overcome them. It is widely believed that through better self-control, our habits will change. But it doesn't work like that. The only way to change a bad habit is through repetitive good behavior. Good behavior leads to better outcomes, which leads to our brain releasing dopamine. This "reward" is what helps us form good habits....

About Wendy Wood: Wendy Wood is a social psychologist whose research addresses the ways that habits guide behavior - and why they are so difficult to break - as well as evolutionary accounts of gender differences in behavior. Professor Wood has been Associate Editor of Psychological Review, Journal of Personality and Social Psychology, Personality and Social Psychology Review, and Personality and Social Psychology Bulletin. She is a Fellow of the American Psychological Association, the American Psychological Society, the Society for Experimental Social Psychology, and a founding member of the Society for Research Synthesis.

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chapters:-

0:00 intro

2:30 friction

3:37 repetition

3:48 reward

4:18 contexts

5:01 rituals

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Adam Grant's #1 phrase to unlock potential

The science of super longevity

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Discover Big Think | Smarter Faster™

Your top destination for expert-driven, educational content. Featuring thousands of episodes and insights from renowned figures like Bill Clinton to Bill Nye, Big Think accelerates your learning by delving into the pivotal concepts and essential skills shaping knowledge in the 21st century...

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TOPGUN fighter pilot Guy Snodgrass shares his 3 key leadership lessons from the cockpit.

Commander Guy Snodgrass is a retired fighter pilot.

His intense training and experience in the cockpit helped him craft 10 skills for leadership and personal performance.

These lessons apply to everyone from medical doctors to social media influencers.

To learn even more from the world's biggest thinkers, get Big Think+ for your business: https://bigthink.com/plus/

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About Guy Snodgrass

Guy Snodgrass is the CEO of Defense Analytics, a national security and foreign policy strategic advisory firm specializing in strategy development, government policy, and technology adoption. Recognized as an influential national security and foreign policy expert, Snodgrass recently published his first book, _Holding the Line_, to incredibly positive reviews. Snodgrass appears as a commentator on CNN, FOX, and multiple international outlets; an opinion contributor to _The Washington Post_, _USA Today_, and other national security outlets; and a prominent commentator to publications such as _Politico_, _The New York Times_, _The Washington Post_, and _Bloomberg_. A career Navy F/A-18 fighter pilot, Commander Snodgrass led combat missions in support of forces on the ground in the Middle East. Subsequently selected as a TOPGUN instructor, he served as the US Navy and Marine Corps expert in air-to-air combat and tactics development.

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About Big Think | Smarter Faster™

► Big Think

The leading source of expert-driven, educational content. With thousands of videos, featuring experts ranging from Bill Clinton to Bill Nye, Big Think helps you get smarter, faster by exploring the big ideas and core skills that define knowledge in the 21st century.

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Eric Siegel has been in the AI field since 1991. He’s “horrified” by the AI hype bubble, but not for the reason you may think.

Is generative AI the viral sensation we’ve been promised? Headlines are selling it as a panacea, but 30-year AI industry vet Eric Siegel says that’s mostly hype. It may be impressive and introduce efficiencies, but it won’t run the world as we’ve been promised.

Predictive AI, Siegel argues, holds all of the transformative potential that we’ve been guaranteed with generative AI and the LLMs that have become increasingly popular. While generative AI works on a low-level of detail and isn’t able to be trusted blindly, predictive AI is fully-autonomous, and can be implemented across a wide range of industries.

Here’s why Siegel thinks the actual potential lies with predictive modeling, and why we’re not going to replicate human intelligence in machines anytime soon.

Chapters For Easier Navigation:-

0:00 - The Generative AI illusion

1:05 - Generative AI’s function

3:13 - Generative vs. Predictive

4:21 - The Predictive AI process

6:57 - Moving towards AGI?

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About Eric Siegel:

Eric Siegel is a leading consultant and former Columbia University and UVA Darden professor. He is the founder of the long-running Machine Learning Week conference series, a frequent keynote speaker, and author of The AI Playbook: Mastering the Rare Art of Machine Learning Deployment," as well as the bestselling "Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die."

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