Tom Evslin's new blog: [...] Here's a sample from the first article of his new blog:
Historically, the results of bubbles have usually been more empowerment for more people. Historically, bubbles have provided an explosion of funds which blasted away the entrenchments of an old oligarchy not only to the benefit of entrepreneurs but also to the benefit of consumers in general. Think of the constantly falling price of transportation and communication.
If we should find a way to stop bubbles, if we were to put the genie of irrational exuberance back in the bottle, the winners will be whoever are the incumbents at the time and the losers will be all those who could benefit from another great breakthrough in infrastructure like railroads, canals and the Internet.
Bring on the next bubble. And invest in it at your own risk. I will.
(Via isen.blog.)
It appears that brains mature by generating an oversupply of neurons and synapses, most of which do not survive. However, such a superficially wasteful process is more likely to adapt well to a complex environment, by implicitly searching over many more configurations than a top-down design. "Waste not, want not" may not be a good policy for getting out of local maxima.
3:22:33 PM 
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