Ep. 16 - Overfitting Toddlers and Underfitting Curmudgeons

Today's concept is underfitting vs. overfitting. Someone who underfits doesn't adapt quickly enough to new data. But if you think that's bad, an overfitter will read TOO MUCH into new data and come up with wild ideas. How do you balance between them and what are some examples?We also talk about Warren Buffet's Recent statements on Bitcoin as Rat Poison Squared, and the response from Union Square Venure's Fred Wilson. How does Bitcoin get it's value? We look at underfitters and overfitters in the crypto space.Finally, the value of the Turing Test. When General AI comes, will it be the fabled machine that can pass as human, or will that idea be sidelined as more profitable uses taken precedent.Also, we learn what an Ornithopter is, and get an update on Yanny-Laurel. Get full access to The Local Maximum at localmaximum.substack.com/subscribe