Tyler Cowen: belief

Transcript context

…But this goes back to wondering whether this is a one time gain or not. Maybe initially they can help the people who are around them. Somebody in Brazil, they help people around them. But once you’ve found them, they're gonna go to those clusters you talked about, and they're gonna be helping the people with San Francisco who don't need help. So is this a one time game then? Tyler Cowen Many people from India seem to give back to India in a very consistent way. People from Russia don't seem to do that. That may relate to the fact that Russia is in terrible shape, and India has a brighter future. So it will depend. But I certainly think there are ways of arranging things where people give back a lot. Let's talk about Emergent Ventures. Sure. So I wonder: if the goal of Emergent Ventures is to raise aspirations, does that still work given the fact that you have to accept some people but reject other people? In Bayesian terms, the updates up have to equal the updates down? In some sense, you're almost transferring a vision edge from the excellent to the truly great. You see what I'm saying? Well, you might discourage the people you turn away. But if they're really going to do something, they should take that as a challenge. And many do! Like “Oh, I was rejected by Harvard, I had to go to UChicago, but I decided, I'm going to show those bastards.” I think we talked about that a few minutes ago. So if I just crushed the spirits of those who are rejected, I don't feel too bad about that. They should probably be in some role anyway where they're just working for someone. But let me ask you the converse of that which is, if you do accept somebody, are you worried that if one of the things that drives people is getting rejected, and then wanting to prove that you will reject them wrong, are you worried that by accepting somebody when they're 15, you're killing that thing? The part of them that wants to get some kind of approval?…

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