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Mediocristan or Extremistan

Nassin Nicholas Taleb, 2007, The Black Swan, Penguin Books: 36

Mediocristan Extremistan
Mild or type 1 randomness Wile (even superwild) or type 2 randomness
The most typical member is mediocre The most "typical" is either giant or dwarf, i.i., there is no typical member
Winners get a small segment of the total pie Winner-take-almost-all effects
Example: audience of an opera singer before the gramophone Today's audience for an artist
More likely to be found in our ancestral environment More likely to be found in our modern environment
Impervious to the Black Swan Vulnerable to the Black Swan
Subject to gravity There are no physical constraints on what a number can be
Corresponds (generally) to physical quantities, i.e., height Corresponds to numbers, say, wealth
As close to utopian equality as reality can spontaneously deliver Dominated by extreme winner-take-all inequality
Total is not determined by a single instance or observation Total will be determined by a small number of extreme events
When you observe for a while you can get to know what's going on It takes a long time to know what's going on
Tyranny of the collective Tyranny of the accidental
Easy to predict from what you see and extend to what you do not see Hard to predict from past information
History crawls History makes jumps
Events are distributed according to the "bell curve" (the GIF) or its variations The distribution is either Mandelbrotian "gray" Swans (tractable scientifically) or totally intractable Black Swans