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Spread the research money around rather than piling it on to a few large projects.

July 1, 2013

I wanted to blog this finding for a while, and then, today Curt Rice tweeted in this already written article from My Science Network. Whee. Go read. The idea behind it is that shoveling money at what you think have higher impact may not be as efficient as doling out smaller sums to more people.

Goes in with Taleb’s optionality idea (and, from him, how you fund start-ups if you are a venture capitalist). You don’t know what is going to work out, so you option the whole lot, because whatever will work out, will have such a large upside that it is worth it losing money on all those earnest attempts that did not lead anywhere. Rather than making a single large bet (the old putting all the eggs in one basket).

 

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