Gambler’s Ruin Problem and key takeaways
A few months ago, I learned about the Gambler’s Ruin Problem from a career decision story about computer hacker George Hotz.
A recent Twitter thread by 10-K Diver, an absolute cracker of an account to follow on Twitter, has a great in-depth explanation of Gambler’s Ruin with some key takeaways that would benefit decision making in many different contexts.
Worth a read/like/bookmark:
1/— 10-K Diver (@10kdiver) January 1, 2023
Get a cup of coffee.
In this thread, I'll walk you through "Gambler's Ruin".
This is a classic exercise in probability theory.
But going beyond the math, this exercise can teach us a lot about life, business, and investing. pic.twitter.com/1pIz9e98h2