A few things – the number of transportation deaths per 100k people was 20% higher in 2000 vs 2020. – Suicides have gone up, but have always hovered around the transportation rate, so it didn’t take much to overtake it – Fentanyl scourge is China’s revenge for the Opium wars- cancer treatments have Improved
The biggest new attraction that just opened in Las Vegas is a $2.3 billion worlds’ biggest sphere. U-2 will inaugurate it with a concert.
The outside has 1.2 billion LED lights. This is an artist that lights it up with his constantly changing AI generated images.
Here is some background on this mega project…
Here’s an overview of 25 psychological biases with a short explanation of each.
Confirmation Bias – We interpret new information as confirmation of our existing beliefs.
Availability Bias – We rely on information that comes to our mind easily/the quickest.
Action Bias – We favor action over inaction. That’s why we sell or buy prematurely.
Overconfidence – We overestimate our own knowledge and ability. Often because we know too little to understand better. (Less knowledge => more confidence)
Survivorship Bias – This is a sample bias that occurs when we assess only successful outcomes and disregard failures.
Reactive Devaluation – Automatically devaluing opinions from opposing sites or people you dislike.
Ostrich Effect – The tendency to avoid negative (financial) information by pretending not to see it.
Illusion of Validity – Our tendency to overestimate our ability to accurately interpret and predict outcomes. We draw conclusions to make a story coherent and then ignore possible alternatives completely.
Hyperbolic Discounting – We are wired to prefer instant gratification (e.g. payouts). Even when offered significantly more in the future.
Post-Purchase Rationalisation – After a buying decision, we immediately erase all doubts and rationalize our decision. This works combined with the confirmation bias.
Illusion of Asymmetric Insight – We often believe our knowledge surpasses the knowledge of our peers.
False Consensus Effect – Too often, we overestimate the degree to which others agree with us.
Egocentric Bias – Tendency to ascribe oneself more responsibility for success than others or outside factors (e.g. luck or circumstance).
Pro-Innovation Bias – The tendency to overweight the possible usefulness and oversee risks.
Choice Supportive Bias – When we choose something, we feel positive about it. We disregard flaws or mistakes in our logic and switch to a state of cognitive ease.
Self-Serving Bias – We conceive our failures as situational while we claim full responsibility for our successes.
Curse of knowledge – Once we know something, it’s hard to imagine that other people don’t. We automatically assume that everyone else knows it, too.
Dunning-Kruger Effect – The less you know, the more confident you are. The more you know, the less confident you are.
This effect is similar to WYSIATI (What You See Is All There Is)
Belief Bias – We determine the strength of an argument based on how plausible its conclusion is to us, not by how strongly it supports that conclusion.
Escalation of Commitment – We remain committed to things we already invested in.
Pulling out of them feels like a waste of resources. This even applies if pulling out is obviously the best option.
Gambler’s Fallacy – We tend to think that past events affect future possibilities.
Zero-Risk Bias – If a risk is considered small, we assume there is no risk at all.
Outgroup Homogeneity Bias – We perceive outgroup members as homogenous and ingroup members as more diverse.
Clustering Illusion – We always look for cause-effect relationships. Thus, we find patterns and clusters even in totally random data.
Blind Spot Bias – We overlook biases in our own decision-making and see them more in others.
Recency Bias – We tend to put too much weight on recent events.
When things are great, we think they will get only better.
When things are bad, we think they will get only worse.
Hey, I’m Daniel, 22 years old and currently studying Economics and Finance.
Since the news business has changed from reporting to profits, keeping eyeballs is what it is all about.
Fox found this out after they accurately reported that Trump was projected to lose Arizona. Tucker Carlson then ranted about how their viewership was going down, along with the stock price with which he was richly compensated. He understood that their viewers were there to hear what they need to believe. And if they didn’t get it, they would move to Newsmax, Onan and other alternative news sources that would feed the beast.
Rush Limbaugh always understood that and bragged that he was an Entertainer. Are you entertained?
For any democracy to it operate efficiently, it needs an informed electorate. So how do you sort out the news from the fire hose of information flow these days?
1)Realize that your. 00001 experience of the world contributes to 80% of your worldview. Approach your understanding with a scientist skepticism that he’s always willing to accept that he could be wrong.
2)Intentionally expose yourself to opposing views. We don’t like to do this because it makes us uncomfortable. Over the years I have developed a diversity of writers that I follow on the hellscape that is Twitter. Most of us don’t have a luxury of time to do that. It’s not easy being free, when you don’t have an emperor to make all the decisions for you.
3) Turn off the Crisis News networks . If there isn’t good video footage, or if the victim isn’t attractive, you won’t hear about it . Just like the print media, television is all about eyeballs. Now there are live news events that television coverage excels at. Television Studios nowadays don’t need to wait for their cameras to warm up to go live. Walter Cronkite had to wait to give the world the shocking news about Kennedy being shot in Dallas.
4) Read some news sources from outside the United States bubble. Here are some free websites that also have free apps for your handhelds.
A good one to see the southeast Asian perspective on the world is the Asia Times https://asiatimes.com/
Also, try the Arab news source https://www.aljazeera.com/
France 24 for another perspective https://www.france24.com/en/live-news/
The Guardian is one of the few British rags that isn’t just a tabloid http://thrguardian.com/
If you can afford subscription the Financial Times, The Week, The Economist, Wall Street Journal and NY Times will cover a lot of area.
A great little tool that I use is an aggregator that ranks stories by their number of hits in real time. Bookmark this handy page
5) Last, but not least, Social Media is just that and not a source of verifiable information. Outrage and anger build engagement. Realize that you are being baited with these emotions to click on their stories.