On Jun 11, 2005, at 10:45 PM, [EMAIL PROTECTED] wrote:
Drug companies pour millions and sometimes more into drug research...
This takes a large expected return to cover the cost of development and
testing.
Sure, the junk bond model. Build a portfolio of investments with a
reasonably well-known probability of return and to the usual financial
number crunching. Depending on the overall numbers and capital
available, moderately high-risk instruments are perfectly acceptable
investment vehicles.
Unfortunately, AI has no known probability of return and a history of
extremely poor return which makes it a very different kind of
investment. Pharma is a false analogy. AI investment is nothing like
high-risk, high-return investing, which has well-established formulas
and rules for profitable investment, and is a lot more like playing the
lottery but with no knowledge of the odds.
cheers,
j. andrew rogers
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