by Nate Silver · 12 Aug 2024 · 848pp · 227,015 words
the Noise: Why So Many Predictions Fail—But Some Don’t PENGUIN PRESS An imprint of Penguin Random House LLC penguinrandomhouse.com Copyright © 2024 by Nate Silver Penguin Random House supports copyright. Copyright fuels creativity, encourages diverse voices, promotes free speech, and creates a vibrant culture. Thank you for buying an authorized
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page: courtesy of xkcd library of congress cataloging-in-publication data Names: Silver, Nate, 1978– author. Title: On the edge: the art of risking everything / Nate Silver. Description: New York: Penguin Press, 2024. | Includes bibliographical references and index. Identifiers: LCCN 2024011711 (print) | LCCN 2024011712 (ebook) | ISBN 9781594204128 (hardcover) | ISBN 9780593491638 (ebook) Subjects
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percent). Trump won, of course, by sweeping several Rust Belt swing states. The reaction of many people in the political world to this forecast was: “Nate Silver is a fucking idiot.” But from my standpoint—and from the standpoint of people in the River, the landscape of skilled gamblers and like-minded
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guy who only plays aces and kings—but I’m gradually aging into that demographic. And if my opponents know me as “statistician and author Nate Silver,” but don’t know my poker-playing background, they’ll usually assume my play is tight and conservative. People tend to read “statistician” as “calculating
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. That reputation may be changing, though, because one of the poker hands I’m best known for is a bluff. Entitled “America’s Top Statistician Nate Silver Runs Epic Bluff in $10,000 Poker Tournament” on the PokerGO YouTube channel, the clip of that bluff has gotten tens of thousands of views
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Gambler”: You’ve got to know when to Hold’em, know when to fold ’em Know when to walk away and know when to raise —Nate Silver, On the Edge As Doyle Brunson figured out fifty years ago, no-limit Texas Hold’em is a game of aggression. Modern poker solvers confirm
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pseudonymous AI personality who was later outed[*6] by Forbes magazine. But roon told me that he first created his Twitter account to be a Nate Silver reply guy, “with the express intention of trolling your replies” about my election forecasts. (The internet works in mysterious ways.) A person like roon, with
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worth your while. But I’m still going to claw out every inch of EV that I can if we meet at the poker table. —Nate Silver, Las Vegas, Nevada, April 10, 2024 Glossary: How to Speak Riverian This is a reasonably complete list of technical terms used in On the Edge
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. GO TO NOTE REFERENCE IN TEXT estimate of Trump’s chances: Matthew Yglesias, “Why I Think Nate Silver’s Model Underrates Clinton’s Odds,” Vox, November 7, 2016, vox.com/policy-and-politics/2016/11/7/13550068/nate-silver-forecast-wrong. GO TO NOTE REFERENCE IN TEXT less than 1 percent: Josh Katz, “Who
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: What We Know,” Time, December 14, 2022, time.com/6241262/sam-bankman-fried-political-donations. GO TO NOTE REFERENCE IN TEXT the Village’s claims: Nate Silver, “Twitter, Elon and the Indigo Blob,” Silver Bulletin (blog), October 1, 2023, natesilver.net/p/twitter-elon-and-the-indigo-blob. GO TO NOTE REFERENCE
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TEXT aren’t any insurmountable barriers: See for instance the responses in this Twitter thread, which drew replies from various people with expertise in robotics. Nate Silver (@NateSilver538), “Weird question for my book. Given current tech, could a robot physically play in a poker game? It would need to e.g.:—Handle
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1, 2020, quoteinvestigator.com/2020/03/01/underestimate. GO TO NOTE REFERENCE IN TEXT poker hands I’m best known for: “America’s Top Statistician Nate Silver Runs Epic Bluff in $10,000 Poker Tournament,” PokerGO, 2022, youtube.com/watch?v=9cVrlVzoh48. GO TO NOTE REFERENCE IN TEXT 1 million in chips
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National?,” Analytics Blog (blog), Data Golf, April 8, 2019, datagolf.ca/does-experience-matter-at-augusta. GO TO NOTE REFERENCE IN TEXT the NBA playoffs: Nate Silver, “Why the Warriors and Cavs Are Still Big Favorites,” FiveThirtyEight, October 13, 2017, fivethirtyeight.com/features/why-the-warriors-and-cavs-are-still-big-favorites
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REFERENCE IN TEXT goalie Ken Dryden: Coates, The Hour Between Dog and Wolf, 78. GO TO NOTE REFERENCE IN TEXT national news coverage: Ryan Glasspiegel, “Nate Silver Made Brutal All-in Call at WSOP: ‘F—King Poker,’ ” New York Post, July 13, 2023, nypost.com/2023/07/13
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/nate-silver-made-brutal-all-in-call-at-wsop-f-king-poker. GO TO NOTE REFERENCE IN TEXT playing to survive: This was not the exact phrasing,
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CCAdj),” FRED, Federal Reserve Bank of St. Louis, January 1, 1946), fred.stlouisfed.org/series/CP. GO TO NOTE REFERENCE IN TEXT fast food delivery: Nate Silver, “The McDonald’s Theory of Why Everyone Thinks the Economy Sucks,” Silver Bulletin (blog), October 1, 2023, natesilver.net/p/the-mcdonalds-theory-of-why
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TO NOTE REFERENCE IN TEXT sworn to secrecy: Chamath Palihapitiya et al., “#AIS: FiveThirtyEight’s Nate Silver on How Gamblers Think,” All-In with Chamath, Jason, Sacks & Friedberg, 2022, podcasts.apple.com/ie/podcast/ais-fivethirtyeights-nate-silver-on-how-gamblers-think/id1502871393?i=1000564483582. GO TO NOTE REFERENCE IN TEXT aggressive compensation deal
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3:1 in Air War,” Wesleyan Media Project, November 3, 2016, mediaproject.wesleyan.edu/nov-2016. GO TO NOTE REFERENCE IN TEXT Clinton email scandal: Nate Silver, “The Real Story of 2016,” FiveThirtyEight, January 19, 2017, fivethirtyeight.com/features/the-real-story-of-2016. GO TO NOTE REFERENCE IN TEXT amid sometimes
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, 2022, sec. News, theguardian.com/news/2022/jul/10/uber-files-leak-reveals-global-lobbying-campaign. GO TO NOTE REFERENCE IN TEXT a political cudgel: Nate Silver, “Twitter, Elon and the Indigo Blob,” Silver Bulletin (blog), October 1, 2023, natesilver.net/p/twitter-elon-and-the-indigo-blob. GO TO NOTE REFERENCE
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York Times, April 8, 2023, nytimes.com/2022/04/08/business/hiring-without-college-degree.html. GO TO NOTE REFERENCE IN TEXT congressional hearing featuring: Nate Silver, “Why Liberalism and Leftism Are Increasingly at Odds,” Silver Bulletin (blog), December 12, 2023, natesilver.net/p/why-liberalism-and-leftism-are-increasingly. GO TO
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, June 23, 2023, cointelegraph.com/news/sequoia-partner-says-investing-ftx-was-right-move. GO TO NOTE REFERENCE IN TEXT told me that: Email to Nate Silver, January 8, 2024. GO TO NOTE REFERENCE IN TEXT by SBF nemesis: David Marsanic, “CZ and SBF Twitter Fight Reveals How They Became Rivals,” DailyCoin
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an xkcd cartoon: Randall Munroe, “Duty Calls,” xkcd, xkcd.com/386. GO TO NOTE REFERENCE IN TEXT most popular stories: As of December 21, 2023; Nate Silver, “Fine, I’ll Run a Regression Analysis. But It Won’t Make You Happy,” Silver Bulletin (blog), October 1, 2023, natesilver.net/p/fine-ill
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. Technology, nytimes.com/2023/03/31/technology/sam-altman-open-ai-chatgpt.html. GO TO NOTE REFERENCE IN TEXT that Altman knew: Per email to Nate Silver, January 19, 2024. GO TO NOTE REFERENCE IN TEXT taking a shot: Sam Altman (@sama), “i’ve been stopping myself from sending my EA tweetstorm
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-model-works-and-how-it-fueled-the-tumult-around-ceo-sam-altmans-short-lived-ouster-218340. GO TO NOTE REFERENCE IN TEXT like fast food: Nate Silver, “The McDonald’s Theory of Why Everyone Thinks the Economy Sucks,” Silver Bulletin (blog), October 1, 2023, natesilver.net/p/the-mcdonalds-theory-of-why
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S. Wood, The Radicalism of the American Revolution, Kindle ed. (New York: Vintage Books, 1993), 5. GO TO NOTE REFERENCE IN TEXT rule of law: Nate Silver, “Why Liberalism and Leftism Are Increasingly at Odds,” Silver Bulletin (blog), December 12, 2023, natesilver.net/p/why-liberalism-and-leftism-are-increasingly. GO TO
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-highs.aspx. GO TO NOTE REFERENCE IN TEXT large language models: ChatGPT, Claude, and Google Bard. GO TO NOTE REFERENCE IN TEXT my Twitter followers: Nate Silver (@NateSilver588), “The most important inventions of the decade of the 1900s vs the decade of the 2000s. Pretty good evidence for secular stagnation,” Twitter, x
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E F G H I J K L M N O P Q R S T U V W X Y Z About the Author Nate Silver is the founder of FiveThirtyEight and the New York Times bestselling author of The Signal and the Noise. He writes the Substack "Silver Bulletin." What
by Nate Silver · 31 Aug 2012 · 829pp · 186,976 words
Ltd, Registered Offices: 80 Strand, London WC2R 0RL, England First published in 2012 by The Penguin Press, a member of Penguin Group (USA) Inc. Copyright © Nate Silver, 2012 All rights reserved Illustration credits Figure 4-2: Courtesy of Dr. Tim Parker, University of Oxford Figure 7-1: From “1918 Influenza: The Mother
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, University of Pennsylvania LIBRARY OF CONGRESS CATALOGING IN PUBLICATION DATA Silver, Nate. The signal and the noise : why most predictions fail but some don’t / Nate Silver. p. cm. Includes bibliographical references and index. ISBN 978-1-101-59595-4 1. Forecasting. 2. Forecasting—Methodology. 3. Forecasting—History. 4. Bayesian statistical decision
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will start by buying the first beer for anybody on this list, and the first three for anybody who should have been, but isn’t. —Nate Silver Brooklyn, NY NOTES INTRODUCTION 1. The Industrial Revolution is variously described as starting anywhere from the mid-eighteenth to the early nineteenth centuries. I choose
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: The Data Deluge Makes the Scientific Method Obsolete,” Wired magazine, June 23, 2008. http://www.wired.com/science/discoveries/magazine/16-07/pb_theory. 38. Nate Silver, “Models Based on ‘Fundamentals’ Have Failed at Predicting Presidential Elections,” FiveThirtyEight, New York Times, March 26, 2012. http://fivethirtyeight.blogs.nytimes.com/2012/03/26
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passed, later statistical analyses suggested that members of Congress who had voted for the bailout were more likely to lose their seats. See for example: Nate Silver, “Health Care and Bailout Votes May Have Hurt Democrats,” FiveThirtyEight, New York Times, November 16, 2011. http://fivethirtyeight.blogs.nytimes.com/2010/11/16/health
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/pricehistory/PriceHistory_GetData.cfm. 3. The McLaughlin Group transcript, Federal News Service; taped November 7, 2008. http://www.mclaughlin.com/transcript.htm?id=688. 4. Nate Silver, “Debunking the Bradley Effect,” Newsweek, October 20, 2008. http://www.thedailybeast.com/newsweek/2008/10/20/debunking-the-bradley-effect.html. 5. Academic studies of
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of their votes. 25. “Election Results: House Big Board,” New York Times, November 2, 2010. http://elections.nytimes.com/2010/results/house/big-board. 26. Nate Silver, “A Warning on the Accuracy of Primary Polls,” FiveThirtyEight, New York Times, March 1, 2012. http://fivethirtyeight.blogs.nytimes.com/2012/03/01/a-warning
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-on-the-accuracy-of-primary-polls/. 27. Nate Silver, “Bill Buckner Strikes Again,” FiveThirtyEight, New York Times; September 29, 2011. http://fivethirtyeight.blogs.nytimes.com/2011/09/29/bill-buckner-strikes-again/. 28. Otherwise
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, you should have assigned the congressman a 100 percent chance of victory instead. 29. Matthew Dickinson, “Nate Silver Is Not a Political Scientist,” in Presidential Power: A Nonpartisan Analysis of Presidential Power, Blogs Dot Middlebury, November 1, 2010. http://blogs.middlebury.edu/presidentialpower
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/2010/11/01/nate-silver-is-not-a-political-scientist/. 30. Sam Wang, “A Weakness in FiveThirtyEight.com,” Princeton Election Consortium, August 8, 2008. http://election.princeton.edu/2008/08
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Polls So Predictable?” British Journal of Political Science 23, no. 4 (October 1993). http://www.rochester.edu/College/faculty/mperess/ada2007/Gelman_King.pdf. 35. Nate Silver, “Models Based on ‘Fundamentals’ Have Failed at Predicting Presidential Elections,” FiveThirtyEight, New York Times, March 26, 2012. 36. Between 1998 and 2008, the average poll
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Harper, Online Etymology Dictionary. http://www.etymonline.com/index.php?term=objective. CHAPTER 3: ALL I CARE ABOUT IS W’S AND L’S 1. Nate Silver in Jonah Keri, et al., Baseball Between the Numbers: Why Everything You Know About the Game Is Wrong (New York: Basic Books, 2006). 2. Danny
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Knobler, “The Opposite of a ‘Tools Guy,’ Pedroia’s Simply a Winner,” CBSSports.com, November 18, 2008. http://www.cbssports.com/mlb/story/11116048. 3. Nate Silver, “Lies, Damned Lies: PECOTA Takes on Prospects, Wrap-up,” BaseballProspectus.com, March 8, 2006. http://www.baseballprospectus.com/article.php?articleid=4841. 4. Law is
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. Alan Schwarz, “The Great Debate,” Baseball America, January. 7, 2005. http://www.baseballamerica.com/today/features/050107debate.html. 20. Per interview with Billy Beane. 21. Nate Silver, “What Tim Geithner Can Learn from Baseball,” Esquire, March 11, 2009. http://www.esquire.com/features/data/mlb-player-salaries-0409. 22. As a result
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methodology. The methods I describe herein apply to the 2003–2009 version of PECOTA specifically. 23. Nate Silver, “PECOTA Takes on the Field,” Baseball Prospectus, January 16, 2004. http://www.baseballprospectus.com/article.php?articleid=2515. 24. Nate Silver, “Lies, Damned Lies: Projection Reflection,” Baseball Prospectus, October 11, 2006. http://www.baseballprospectus.com/article
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. 48. 2008 New Hampshire Democratic Primary polls via RealClearPolitics.com. http://www.realclearpolitics.com/epolls/2008/president/nh/new_hampshire_democratic_primary-194.html. 49. Nate Silver, “Rasmussen Polls Were Biased and Inaccurate; Quinnipiac, SurveyUSA Performed Strongly,” FiveThirtyEight, New York Times, November 4, 2010. http://fivethirtyeight.blogs.nytimes.com/2010/11/04
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on the river, he would essentially be doing so as a bluff since he wouldn’t expect us to call with a weaker hand. 6. Nate Silver, “Sanity Check: 88 Hand” twoplustwo.com; May 14, 2012. http://forumserver.twoplustwo.com/56/medium-stakes-pl-nl/sanity-check-88-hand-1199549/. 7. G4mblers
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-uigea-487/. 26. Branon Adams, “The Poker Economy,” Bluff Magazine, November, 2006. http://www.bluffmagazine.com/magazine/The-Poker-Economy-Brandon-Adams-584.htm. 27. Nate Silver, “After ‘Black Friday,’ American Poker Faces Cloudy Future,” FiveThirtyEight, New York Times, April 20, 2011. http://fivethirtyeight.blogs.nytimes.com/2011/04/20/after-black
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. 18. “Super Tuesday 2012 on Intrade;” Intrade.com, March 8, 2012. http://www.intrade.com/v4/reports/historic/2012-03-07-super-tuesday-2012/. 19. Nate Silver, “Intrade Betting Is Suspicious,” FiveThirtyEight, September 24, 2008. http://www.fivethirtyeight.com/2008/09/intrade-betting-is-suspcious.html. 20
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. Nate Silver, “Evidence of Irrationality at Intrade,” “Live Coverage: Alabama and Mississippi Primaries;” FiveThirtyEight, New York Times, March 13, 2012. http://fivethirtyeight.blogs.nytimes.com/2012/03/
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. 30. “FAQ: Copenhagen Conference 2009;” CBCNews.ca, December 8, 2009. http://www.cbc.ca/news/world/story/2009/12/01/f-copenhagen-summit.html. 31. Nate Silver, “Despite Protests, Some Reason for Optimism in Copenhagen,” FiveThirtyEight.com, December 9, 2009. http://www.fivethirtyeight.com/2009/12/despite-protests-some-reasons-for.html
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Security Theater,” Schneier on Security, November 13, 2009. http://www.schneier.com/blog/archives/2009/11/beyond_security.html. 76. Ibid., Kindle location 1035. 77. Nate Silver, “Crunching the Risk Numbers,” Wall Street Journal, January 8, 2010. http://Online.wsj.com/article/SB10001424052748703481004574646963713065116.html. 78. Russian Authorities: Terrorist Bombing at Moscow Airport
by Lawrence Wright · 7 Jun 2021 · 391pp · 112,312 words
, 2020. widest margin: Alec Tyson and Shiva Maniam, “Behind Trump’s victory: Divisions by race, gender, education,” Pew Research Center, Nov. 9, 2016. “unbreakable lead”: Nate Silver, “The Comey Letter Probably Cost Clinton The Election,” FiveThirtyEight, May 3, 2016. opioid epidemic: Dean Reynolds, “Overdoses now leading cause of death of Americans under
by Tom Chivers · 12 Jun 2019 · 289pp · 92,714 words
this is to make lots of predictions and see how many come in. This method became particularly famous around the 2012 US presidential election, when Nate Silver, editor-in-chief of the website FiveThirtyEight.com, correctly predicted which way all 50 states would end up voting. He did it using exactly these
by Guy Raz · 14 Sep 2020 · 361pp · 107,461 words
customers. 13 Get Attention, Part 2: Engineering Word of Mouth In 2012, amidst an explosion of social networking platforms, smartphones, and big data, the statistician Nate Silver published a book titled The Signal and the Noise, about the difficulty of developing accurate predictions. Up until that point, “signal-to-noise ratio” was
by David Sumpter · 18 Jun 2018 · 276pp · 81,153 words
4: One Hundred Dimensions of You Chapter 5: Cambridge Hyperbolytica Chapter 6: Impossibly Unbiased Chapter 7: The Data Alchemists PART 2: INFLUENCING US Chapter 8: Nate Silver vs the Rest of Us Chapter 9: We ‘Also Liked’ the Internet Chapter 10: The Popularity Contest Chapter 11: Bubbling Up Chapter 12: Football Matters
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achieved amazing results in a short time. It is people like Julia who can prevent us from being outnumbered. PART TWO Influencing Us CHAPTER EIGHT Nate Silver vs the Rest of Us Refresh, refresh, refresh. As voting for the 2016 US presidential election started, the political prediction website FiveThirtyEight received tens of
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elections have become more and more common. There has been a shift from newspapers reporting opinion polls to online political sites, like FiveThirtyEight run by Nate Silver, and The Upshot at the New York Times, making probabilistic predictions of outcomes. As we have seen, algorithms work in terms of probabilities and not
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predictions to binary: ‘yes’ or ‘no’, ‘Brexit’ or ‘remain’ and ‘Trump’ or ‘Clinton’. Our lazy minds like certainty. After the 2012 US presidential election, when Nate Silver’s model predicted all US states correctly, he was declared a genius in blogs and across social media. He was ‘the man who called it
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in both their own model (the newspaper’s Upshot model had given Clinton a 91 per cent chance of winning) and the approach taken by Nate Silver and FiveThirtyEight. The newspaper was blaming statisticians for its own inability to account for uncertainty. For Silver, this was just one example of how the
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at how FiveThirtyEight had evolved over the past 10 years, was that the site provides a powerful case study of the limits of mathematical models. Nate Silver had been propelled to a position of authority. He had accumulated financial resources (FiveThirtyEight is owned by ESPN) that had allowed him to build sophisticated
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the maths and he understood the relationship between data and the real world. If anyone could create a good model of an election, it was Nate Silver. When it came to analysing our behaviour, the algorithms we have looked at up to now were, at best, on a par with humans. Julia
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with music recommendations as good as those of our friends. I wondered whether the same limitations applied to the FiveThirtyEight model? Given the resources at Nate Silver’s disposal, FiveThirtyEight was the undisputed heavyweight champion of algorithmic prediction. I wanted to find out whether a human contender could take it on. Could
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probability of victory for Trump.7 This compared with 28 per cent estimated by FiveThirtyEight. Unlike Carl Diggler, who called it 100 per cent Clinton, Nate Silver and the superforecasters hedged their bets, and rightly so. The superforecasters didn’t provide individual predictions for different US states, which made it difficult to
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.4). This can be partly explained by PredictIt users exploiting FiveThirtyEight. Indeed, on the superforecasters’ forum discussions, the single most frequent source for information was Nate Silver’s website. However, the whole point of a prediction market is that it brings together different pieces of information, weighing them in proportion to their
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done a bit of betting on football (purely for scientific research reasons, of course). There is an urban legend of the mathematical genius, maybe the Nate Silver of gambling, who has worked out the formula for beating the bookies. If only, the legend goes, you can find the tips that this person
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a game. I thought it was fun to compare models to markets, to see which won. But I was falling into the same trap as Nate Silver. I was forgetting that the outcome of the US presidential election was crucial to the lives of so many people. Mona told me that the
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at those two numbers for Clinton and Trump, and they are concluding that Clinton is going to win.’ We are outnumbered by statistical experts like Nate Silver because we believe that they have a better answer than we do. They don’t. They might be better than chimpanzees with darts and they
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learning. Monika Scholz at the University of Chicago has recently created a model of how the worm uses probabilistic inference, similar to that used in Nate Silver’s model of election polls in Chapter 8, to decide when to move.11 The worm ‘polls’ its local environment to measure how much food
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other words, a simple model accounting for age and priors is (for the Broward County data set) as accurate as the COMPAS model. Chapter 8 : Nate Silver vs the Rest of Us 1 www.yougov.co.uk/news/2017/06/09/the-day-after 2 www.nytimes.com/2016/11/01/us
by G. Elliott Morris · 11 Jul 2022 · 252pp · 71,176 words
poll of the 2014 Kansas Senate race from its website shortly after it was released. At the time, political blogger Harry Enten and FiveThirtyEight’s Nate Silver wondered whether the firm did so because they “got cold feet” when CNN and Fox News published polls with which Rasmussen’s was far out
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. The forecasters have to bring in their own analysis to create such predictions. One reason for Pollster’s mixed success was the incredible popularity of Nate Silver, a rival polling aggregator and election forecaster. Silver not only took the polls and averaged them together, but he created probabilistic models to answer the
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day job—running sports statistics for a company called Baseball Prospectus—and switched to election forecasting and political blogging full-time. SOME MODELS ARE USEFUL Nate Silver’s 2008 election forecasting model was the first of its kind to make its way into political journalism. His embrace of probabilistic statistics and sophisticated
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investigation into her use of a private email server eleven days before the election—a move that may have sunk her candidacy.10 In comparison, Nate Silver’s forecast gave Trump a 29% chance of winning in 2016—higher than Jackson’s 2% or the New York Times’s 15%. The nearly
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on the 2016 election, but it did not work as well in reality as we had hoped. Our forecasts were only slightly less biased than Nate Silver’s in red states, and we missed a surprising number of Trump’s voters in Florida and the Midwest, since the polls there were most
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research, they will be drowned out by the significant volume of less accurate polls, making the output of the aggregate worse than its inputs. WHEN NATE SILVER STARTED FIVETHIRTYEIGHT.COM in 2008, the conventional wisdom surrounding polling aggregation was that it was nearly a sure bet on the outcome. We know now
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in a face-to-face survey. In 2000, no major public poll was conducted online. By 2020, well over half of the surveys collected by Nate Silver’s staff at FiveThirtyEight, by then a major media outlet, were conducted over the internet. The motivation for switching methods is clear. The last twenty
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misses in the history of polling. It nearly gave the Literary Digest a run for its money. But the aggregates in Wisconsin were also off; Nate Silver’s model had Biden up by eight points, when he only won by 0.6. So while cherry-picking by focusing on outliers like the
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the polls go wrong, rather than providing pinpoint predictions of the election. The expectations of hyper-accuracy, largely caused by the media’s misunderstanding of Nate Silver’s successful forecasts in 2008 and 2012, as well as his championing of correct forecasts in binary terms, but to which I have contributed as
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Premier Liberal Pollster,” New Republic, September 12, 2012, https://newrepublic.com/article/114682/ppp-polling-methodology-opaque-flawed#footnote-114682-$2 26. Harry Enten and Nate Silver, “Why Did a Rasmussen Reports Poll Disappear?,” FiveThirtyEight, October 24, 2014, https://fivethirtyeight.com/features/why-did-a-rasmussen-reports-poll-disappear/. 27. G. Elliott
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Franklin, interview with the author, February 3, 2021. 5. Mark Blumenthal, interview with the author, February 3, 2021. 6. Blumenthal, interview, February 3, 2021. 7. Nate Silver, “General Election Projections, Beta Version,” Daily Kos, February 26, 2008, https://www.dailykos.com/stories/2008/2/26/464643/-General-Election-Projections-Beta-Version. 8
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. Nate Silver (@natesilver538), “Today is the 10-year anniversary of http://FiveThirtyEight.com! Can’t believe I’ve been doing this for a decade now. Thanks to
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Horse Race,” Slate, August 24, 2016, https://slate.com/news-and-politics/2016/08/there-is-no-clinton-trump-horce-race.html. 2. Ryan Grim, “Nate Silver Is Unskewing Polls—All of Them—in Trump’s Direction,” Huffington Post, November 5, 2016, https://www.huffpost.com/entry
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/nate-silver-election-forecast_n_581e1c33e4b0d9ce6fbc6f7f. 3. Nolan McCaskill, “Trump Tells Wisconsin: Victory Was a Surprise,” Politico, December 13, 2016, https://slate.com/news-and-politics/2016/
by Cal Newport · 5 Jan 2016
from one of the paper’s Pulitzer Prize–winning columnists; it was instead a blog run by a baseball stats geek turned election forecaster named Nate Silver. Less than a year later, ESPN and ABC News lured Silver away from the Times (which tried to retain him by promising a staff of
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these groups in turn to better understand why they’re suddenly so valuable. The High-Skilled Workers Brynjolfsson and McAfee call the group personified by Nate Silver the “high-skilled” workers. Advances such as robotics and voice recognition are automating many low-skilled positions, but as these economists emphasize, “other technologies like
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machines will thrive. Tyler Cowen summarizes this reality more bluntly: “The key question will be: are you good at working with intelligent machines or not?” Nate Silver, of course, with his comfort in feeding data into large databases, then siphoning it out into his mysterious Monte Carlo simulations, is the epitome of
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, however, are consumer products, not serious tools: Most of the intelligent machines driving the Great Restructuring are significantly more complex to understand and master. Consider Nate Silver, our earlier example of someone who thrives by working well with complicated technology. If we dive deeper into his methodology, we discover that generating data
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is a tricky question, one of many that you must understand and master to tease reasonable results out of real-world databases. Sticking with our Nate Silver case study, consider the other technology he relies on: Stata. This is a powerful tool, and definitely not something you can learn intuitively after some
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and produce unambiguously valuable and concrete results. This ability to produce also applies to those looking to master intelligent machines. It wasn’t enough for Nate Silver to learn how to manipulate large data sets and run statistical analyses; he needed to then show that he could use this skill to tease
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Up the Wrong Tree. September 18, 2013. http://www.bakadesuyo.com/2013/09/stay-focused/. Chapter 1 Information about Nate Silver’s election traffic on the New York Times website: Tracy, Marc. “Nate Silver Is a One-Man Traffic Machine for the Times.” New Republic, November 6, 2012. http://www.newrepublic.com/article/109714
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/nate-silvers-fivethirtyeight-blog-drawing-massive-traffic-new-york-times. Information about Nate Silver’s ESPN/ABC News deal: Allen, Mike. “How ESPN and
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ABC Landed Nate Silver.” Politico, July 22, 2013. http://www.politico.com/blogs/media/2013/07/how-espn
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-and-abc-landed-nate-silver-168888.html. Examples of concerns regarding Silver’s methodology: Davis, Sean M
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. “Is Nate Silver’s Value at Risk?” Daily Caller, November 1, 2012. http
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://dailycaller.com/2012/11/01/is-nate-silvers-value-at-risk/. Marcus, Gary, and Ernest Davis. “What Nate Silver Gets Wrong.” The New Yorker, January 25, 2013. http://www.newyorker.com/online
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/blogs/books/2013/01/what-nate-silver-gets-wrong.html. Information about David Heinemeier Hansson comes from the following
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/speaking of Jaron Lanier. How to Become a Winner in the New Economy Details on Nate Silver’s tools: • Hickey, Walter. “How to Become Nate Silver in 9 Simple Steps.” Business Insider, November 14, 2012. http://www.businessinsider.com/how-nate-silver-and-fivethityeight-works-2012-11. • Silver, Nate. “IAmA Blogger for FiveThirtyEight at The New
by Annie Duke · 6 Feb 2018 · 288pp · 81,253 words
see it coming was wrong. The same thing happened after Donald Trump won the presidency. There was a huge outcry about the polls being wrong. Nate Silver, the founder of FiveThirtyEight.com, drew a lot of that criticism. But he never said Clinton was a sure thing. Based on his aggregation and
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entire tournament. I know viscerally how likely 60–40 and 70–30 favorites are to lose (and, of course, the opposite). When people complained that Nate Silver did his job poorly because he had Clinton favored, I thought, “Those people haven’t gotten all their chips in a pot with a pair
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the possibilities, then take a stab at the probabilities. To start, we imagine the range of potential futures. This is also known as scenario planning. Nate Silver, who compiles and interprets data from the perspective of getting the best strategic use of it, frequently takes a scenario-planning approach. Instead of using
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70%, according to FiveThirtyEight.com. When Donald Trump won, pollsters got the Pete Carroll treatment, maybe no one more than Nate Silver, founder of FiveThirtyEight.com and a thoughtful analyzer of polling data. (“Nate Silver was wrong.” “The pollsters missed it.” “Just like Brexit, the bookies blew it.” Etc.) The press spun this as
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? Mistaking Odds for Wrong When the Underdog Wins,” Huffington Post, September 21, 2016, http://www.huffingtonpost.com/annie-duke/even-dershowitz-mistaking_b_12120592.html. Nate Silver and his website, FiveThirtyEight.com, bore the brunt of the criticism for pollsters and forecasters after the 2016 presidential election. Silver’s site updated, in
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the election and had (depending on the date) the probability of a Clinton victory at approximately 60%–70%. If you Google (without the quotation marks) “Nate Silver got it wrong election,” 465,000 results come up. Politico’s November 9 headline was “How Did Everyone Get It So Wrong?,” http://www.politico
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. Gizmodo.com jumped on Silver even before the election, in a November 4 article by Matt Novak titled “Nate Silver’s Very Very Wrong Predictions About Donald Trump Are Terrifying,” http://paleofuture.gizmodo.com/nate-silvers-very-very-wrong-predictions-about-donald-t-1788583912, including the declaration, “Silver has no f**king idea.” CHAPTER
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Amazing Invasion,” TheDailyBeast.com, June 5, 2014, and, of course, Symonds’s book, Neptune: Allied Invasion of Europe and the D-Day Landings. Also, see Nate Silver, “14 Versions of Trump’s Presidency, from #MAGA to Impeachment,” FiveThirtyEight.com, February 3, 2017. Backcasting: working backward from a positive future: For stories describing
by Michael P. Lynch · 21 Mar 2016 · 230pp · 61,702 words
crowd has the same information and training as the relevant experts, it is not clear that they have wisdom to impart. As Leonhardt’s colleague Nate Silver noted during the final run-up to the 2012 election, such markets may contain more or less sophisticated participants, and the more sophisticated the average
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individuals’ commitments. 8. Surowiecki, The Wisdom of Crowds, xii. 9. David Leonhardt, “When the Crowd Isn’t Wise,” New York Times, July 7, 2012. 10. Nate Silver, “The Virtues and Vices of Election Prediction Markets,” New York Times, October 24, 2012. 11. I was helped to see these points in discussions with
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