Artwork

281. Luck vs. Skill: The Scary Truth—Dr. Mike Orkin, Professor Emeritus of Statistics

Multiply Your Success with Dr. Tom DuFore

published

Play Playing
iconShare
 
MP3•Episode home
Manage episode 515888122 series 2844935
Content provided by Franchise Your Business | BigSkyFranchiseTeam.com. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Franchise Your Business | BigSkyFranchiseTeam.com or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.

Do you consider yourself lucky? Or do you consider yourself have earned it by working hard? Or, is it both? Our guest today is Dr. Michael Orkin, is a statistics expert and he shares with us some surprising insights.

TODAY'S WIN-WIN:
In order to increase your chances, you need to put yourself in positions where opportunities can occur and create more chance.

LINKS FROM THE EPISODE:

ABOUT OUR GUEST:
DR. MICHAEL ORKIN is a distinguished professor, consultant, researcher, and author with a wealth of experience that offers unique insights into the concepts of chance and luck. He holds a BA in Mathematics and a PhD in Statistics from the University of California, Berkeley. Throughout his career, Dr. Orkin has made significant contributions to the field of statistics, particularly in the gaming industry, where he frequently serves as a consultant. His extensive research has been published in numerous academic papers, and he has delivered invited talks on these topics, including a notable presentation at Google Tech Talks. Dr. Orkin is a Professor Emeritus of Statistics at California State University, East Bay, and he currently serves on the mathematics faculty at Berkeley City College. His expertise and experience make him a leading authority on the statistical principles underlying games, chance, and the role of luck in various aspects of life.

ABOUT BIG SKY FRANCHISE TEAM:
This episode is powered by Big Sky Franchise Team. If you are ready to talk about franchising your business you can schedule your free, no-obligation, franchise consultation online at: https://bigskyfranchiseteam.com/.

The information provided in this podcast is for informational and educational purposes only and should not be considered financial, legal, or professional advice. Always consult with a qualified professional before making any business decisions. The views and opinions expressed by guests are their own and do not necessarily reflect those of the host, Big Sky Franchise Team, or our affiliates. Additionally, this podcast may feature sponsors or advertisers, but any mention of products or services does not constitute an endorsement. Please do your own research before making any purchasing or business decisions.

…   continue reading

Chapters

1. 281. Luck vs. Skill: The Scary Truth—Dr. Mike Orkin, Professor Emeritus of Statistics (00:00:00)

2. Setting Up The Luck Question (00:00:01)

3. Meet Dr. Michael Orkin (00:00:31)

4. Why Write The Story Of Chance (00:02:10)

5. Lottery Math And The Power Of Scale (00:04:06)

6. Putting Yourself Where Luck Can Strike (00:06:20)

7. Correlation Pitfalls And Hidden Variables (00:07:13)

8. Paul The Octopus And Selection Bias (00:10:09)

9. Data Mining, AI, And False Patterns (00:13:31)

10. Expected Value, Risk, And Ruin (00:16:16)

11. Kelly Criterion And Money Management (00:20:16)

12. Where To Find The Book (00:22:39)

13. Misses, Fits, And Career Choices (00:23:24)

14. A Win: Building A Search Engine (00:25:02)

15. Multipliers: Brand, Network, Experts (00:27:00)

16. Defining Success On Your Terms (00:28:54)

17. Extra Insights And Book Teasers (00:30:05)

18. Three Key Takeaways Recapped (00:31:34)

19. Win-Win And Final CTA (00:34:00)

284 episodes

#MBA #Entrepreneur #Business #BigSkyFranchiseTeam.com - Franchise Your Business #Franchise #Small Business #Growth #The Expanse #Franchisors #Franchisees