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18 March 2012

Is your career a Gambler's Fallacy


We stand in the sideline without much contribution (i should accept that there is no dearth of oral contribution). By contribution, i mean mutual value creation. We think that many people in the past were successful by just doing that we are doing (being close to idle). When something goes wrong, we tend to think about a "pyramid" and compare our growth with the pyramid. We just think that it is natural to get dropped at the bottom. 

Is our career a gambler's fallacy?  Those black balls never come next time and we keep betting on the black balls. Like the previous times, we continue to lose this time too (and probably next time).

Standing in the line for extended period of time is like gambler's fallacy.

So, i happen to conclude that law of averages, law of large numbers and gambler's fallacy helps people who think. Thinking fuels you to make better bet.