Balázs Búzás

We like stories because they give us material to find patterns in—stories are a way in which we learn... Pattern recognition and storytelling are so integral to our cognition that we will even find patterns and construct narratives out of perfectly random data.

I am no longer chatting. I am guiding the LLM through the steps of a recipe for thought. “First think this way, then think that way, and now think like this”. With each step, the LLM’s replies get closer to the final product of the recipe.

Thus, Mr. Munger summarized the fifth principle: investing is like fishing; you must fish where the fish are. He says there are two rules to fishing: the first is to fish where the fish are , and the second rule is to never forget the first rule.

What’s more importantly, the new ease of medium transformation opens up all kinds of new possibilities. If we presume – and that’s a big one – for a moment that the cost of medium transformation will indeed go down for all of us, we now can flexibly adjust the medium according to the circumstances of the audience.

A more effective way to add resilience to one’s savings is by ruthlessly avoiding it s opposite: economic fragility.

The simple idea of universal simulation is to train models on a far wider variety of data and modalities than we currently do, which may include human-generated data, but also observational data from scientific experiments and raw sensor data, all at the same time, with the goal of predicting an increasingly large percentage of all observations in... See more

Resilience is an unseen aspect of economic life. We cannot count it or touch it. It doesn’t appear on financial statements. Yet i ts presenc e gives us assurance and allows us to sleep well at night, while its absence drives men and women to the unemployment office, machinery to the scrap heap, and businesses into bankruptcy. Even unseen, it is a... See more