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"Securities" Podcast: Marginal Stupidity
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"One of the most important cognitive tradeoffs we make is how to process information, and perhaps more specifically, the deluge of information that bombards us every day. A study out of UCSD in 2009 estimated that Americans read or hear more than 100,000 words a day — an increase of nearly 350% over the prior three decades (and that was before Slack and Substack!) It would seem logical that more information is always better for decision-making, both for individuals and for societies. Yet, that’s precisely the tradeoff: humans and civilizations must balance greater and better information with the limits of their rationalities." - Danny Crichton