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The book "Algorithms to Live By" offers several key takeaways that can be useful for entrepreneurs. Firstly, it emphasizes the importance of making optimal decisions based on the information available at the time, a concept known as the "Optimal Stopping" rule. This can be applied in hiring processes or when deciding to pivot a business strategy. Secondly, the book introduces the "Explore/Exploit" trade-off, which can help entrepreneurs balance between trying new strategies (exploring) and sticking with what works (exploiting). Lastly, the book discusses the concept of "Scheduling", which can help entrepreneurs manage their time and resources more efficiently.
Question was asked on:
John Anderson, a psychologist and computer scientist, reexamined Ebbinghaus' work in 1987 to see if he could design computer systems around the human brain. He discovered that our brains forget information when it is no longer relevant to the world around us. Anderson analyzed headlines from The New York Times and found that a word is most likely to reappear right after first being used. The likelihood of seeing it again reduced more over time. Side by side, the appearance of the chart looked nearly identical to Ebbinghaus' data.
Asked on the following book summary:
Can computer science teach us the secrets of life? Perhaps not, but they can shed light on how certain everyday processes work and how to exploit them...
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