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Re:Things I will tell my kids if they become entrepreneurs [... by throwawayReply on Monday October 31, 2016 @09:39AM (#12836554)
Given it's all multiplied it doesn't matter if the luck is from 0-1000 or 0-1, it has the same effect on the outcome.

a * (b * 1000) = (a * 1000) * b

Sorry, I hate bad maths, I realise it is just trying to imply that luck is more important, but in that case it should be * luck^n.

Re:Things I will tell my kids if they become entrepreneurs [... by BigMan555 on Monday October 31, 2016 @01:14PM (#12838760)
How does it have the same impact on outcome? You're talking about the associative property of multiplication but he's saying the luck factor can either reduce your success to 0 or multiply the outcome of your endeavor by 1000. It obviously does have an impact (note: the results of .9 * .9 * 1000 and .9 * .9 * 1 are different numbers).
Re:Things I will tell my kids if they become entrepreneurs [... by throwawayReply on Monday October 31, 2016 @01:37PM (#12839017)
They're different numbers, but it makes no difference in terms of how far along the possible scale you are.

If I score money as 0-1 and luck as 0-1000, then I have a possible overall score out of 1000.

If I score 0.3 on money and 600 on "luck" then I've scored 180 out of 1000, or 18%.

Or if both are 0-1 then I'd have scored 0.3 and 0.6, and overall scored 0.18 out of 1, which is still 18%, it's just the absolute number that has changed.

But the absolute number isn't important in a scale which doesn't have meaningful units.

Re:Things I will tell my kids if they become entrepreneurs [... by BigMan555 on Tuesday November 01, 2016 @04:15AM (#12844129)
I understood the absolute number to be of significance as the goal (eg. the absolute number is however many millions $ you'll make as outcome). But point taken, I don't think this was thought through :)
Re:Things I will tell my kids if they become entrepreneurs [... by ketzu on Monday October 31, 2016 @10:51AM (#12837229)
But luck in [0,1] would even make less sense as luck^n (as it goes to 0), while as luck in [0,1000] could scale a successful startup by the factor of up to 1000.
Re:Things I will tell my kids if they become entrepreneurs [... by throwawayReply on Monday October 31, 2016 @11:31AM (#12837661)
What I meant by 'n' was a weighting. I wasn't clear.

Let's say you have 4 factors a, b, c, d.

If we are summing them then we can just sum them straight:

score = a + b + c + d

If we want to place more importance on some of them we weight them, with (constant) weights w, x, y, z by doing this:

score = w * a + x * b + y * c + z * d.

If it's a multiplicative relationship however then we multiply straight:

score = a * b * c * d

If we tried add weighting in the same way:

score = w * a * x * b * y * c * z * d

Then all we've done is scale the previous score by (w * x * y * z) which is constant, so hasn't actually affected any ranking.

To weight a multiplicative relationship requires the weights to be exponents:

score = a^w * b^x * c^y * d^z

The scores can be in [0..1] or [1..N], the increased weights still increase relative power of the input parameter.

If you take logs it's clear why.

log(score) = w * log(a) + ... + z * log(d) which is our weighting when summing again, and log is monotonic (proof of which is left to the reader), log(S1) < log(S2) implies S1 < S2.

Edit: Fixed formatting, it thinks * is italic.

Re:Things I will tell my kids if they become entrepreneurs [... by nawitus on Monday October 31, 2016 @11:03AM (#12837358)
It doesn't matter if you're comparing "0.001" success to "1" success or "1" success to "1000" success.