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Depends Quotes

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Depends Quotes

“Meaning and value depend on human mind space and the commitment of time and energy by very smart people to a creative enterprise. And the time, energy, and brain power of smart, creative people are not abundant. These are the things that are scare, and in some sense they become scarcer as the demand for these talents increases in proportion to the amount of abundant computing power available.”

“The question of whether a device will come into being depends upon three things: first, whether there is a practical use for it that warrants its development and manufacturing costs; second, whether the laws of physics applying to the elements available for its design allow the attainment of the needed ranges, sensitivities, or the like; and third, whether the pertinent art of manufacture has advanced sufficiently to allow a useful embodiment to be built successfully.”

“To know whether you can trust a particular intuitive judgment, there are two questions you should ask: Is the environment in which the judgment is made sufficiently regular to enable predictions from the available evidence? The answer is yes for diagnosticians, no for stock pickers. Do the professionals have an adequate opportunity to learn the cues and the regularities? The answer here depends on the professionals' experience and on the quality and speed with which they discover their mistakes.”

“The optimum portfolio depends on the various expectations of choices available and the degree of variance in performance which is tolerable. The greater the number of selections, the less will be the average year-to-year variation in actual versus expected results. Also, the lower will be the expected results, assuming different choices have different expectations of performance.”

“Let us not forget that the value of this great system does not lie primarily in its extent or even in its efficiency. Its worth depends on the use that is made of it... For the first time in human history we have available to us the ability to communicate simultaneously with millions of our fellowmen, to furnish entertainment, instruction, widening vision of national problems and national events. An obligation rests on us to see that it is devoted to real service and to develop the material that is transmitted into that which is really worthwhile.”

“Markets work best when there's lots of information available and a historical track record to go on; they excel at predicting things like horse races, election outcomes, and box-office results. But they're bad at predicting things like who will be the next Supreme Court nominee, as that depends on the whim of the president.”