Highest Rated Comments

Bismar736 karma

Given that forecasting, econometrics, and basic statistics consistently works on past data to try to come to conclusions about the present and future, how do you reconcile compounding error in your predictions since the present isn't the past (and people change their minds ala "animal spirits")?

Do you ever question the methods and methodology of using statistics designed for interpolation for extrapolation?

Being more in touch with the context of reality as part of a news organization, do you have any suggestions for academics or courses being taught at universities? Is there anything you wish was stressed more in the field or impressed upon the next generation of economists?

Bismar74 karma

(disclaimer: no judgement just curiosity)

So your model makes profit via yields through investments made via fractional reserve?

Do savings accounts accrue interest then or is it the lottery as interest?

Are there any plans in the works for loans (car/home mortgage)?

On the philosophy side, do you find it easily justifiable to prey on a form of gambling to accrue clients because it's a no loss lottery; if you understand and view the normal process as immoral, what justifies using the same method for different ends to you?

Bismar72 karma

Intriguing and thanks for the answers!

So from a practical standpoint the view is that current gambling -> ineffective savings or personal finances. Which the end is detrimental, hence immoral.

However this is taking that same "addictive" means but applying it to give benefit to savings or personal finances.

Very practical and a scenario where the ends justify the means quite well as it's good for you and for customers, particularly those who might struggle otherwise. I hope your business keeps it's purpose in perpetuity and never gets repurposed because it's a great idea.