[HN Gopher] Ain't Nobody Here but Us Chickens (2019)
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       Ain't Nobody Here but Us Chickens (2019)
        
       Author : yamrzou
       Score  : 17 points
       Date   : 2023-11-24 15:27 UTC (1 days ago)
        
 (HTM) web link (www.scotwork.co.uk)
 (TXT) w3m dump (www.scotwork.co.uk)
        
       | tommiegannert wrote:
       | > Apparently, the Cockerel makes a noise that signifies the
       | proximity of food in order to entice the hens into the farmyard,
       | so that he can mate with them. In essence, it is genetically bred
       | into the animal kingdom, that the better the liar the chicken is,
       | the more likely it is that his genes will be spread. The
       | ultimate, in many ways for any life forms meaning of existence.
       | 
       | Falling for the deceit is not actually bad, because you _want_ to
       | mate with the liar that gets away with it the best. If the male
       | chicken then grow up to be the best liars, the hen wins.
       | 
       | Interestingly, this probably means it's only a winning strategy
       | if you are good at identifying liars. If you are easily pursuaded
       | by the worst liars, there is no benefit.
       | 
       | Like in investing: I want to invest in a company which can
       | pursuade me, the same way I want them to pursuade the next
       | investor, whom I can sell to. (It also means there is no
       | incentive to _expose_ the best liars, which creates a positive
       | feedback loop of lauding them instead, allowing them to lie to
       | the next person.)
        
         | kadoban wrote:
         | > It also means there is no incentive to expose the best liars,
         | which creates a positive feedback loop of lauding them instead,
         | allowing them to lie to the next person.
         | 
         | Are you ignoring that shorts exist here?
        
           | tommiegannert wrote:
           | Yes, good point, though I suspect shorts are much less common
           | than longs, especially in PE, so on average, the best liars
           | would be raised. Maybe the shorts even have incentive to let
           | the liars go further, so they can get a higher entry.
        
         | powersnail wrote:
         | > creates a positive feedback loop of lauding them instead,
         | allowing them to lie to the next person
         | 
         | That's just pyramid selling, isn't it?
        
           | tommiegannert wrote:
           | If you focus on the money, yes.
           | 
           | But my point in your quote was about the incentive to
           | continue to promote existing liars. If you've already found
           | someone convincing (lying or not), you're likely to continue
           | betting on them. The alternative would be to find the next
           | promising company and invest in that instead.
           | 
           | Either way, you'd be investing money and hope for the Greater
           | Fool when you need to sell.
        
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       (page generated 2023-11-25 23:01 UTC)