TIL: creditworthiness

“One of the earliest examples of fully automated decision making that we know of, which arrived right as the era of corporate computing dawned, was the development of a numeric score that reflected people’s creditworthiness...

This obviously critical decision had traditionally been made by local loan officers at bank branches who evaluated applications on the basis of their own experience, sometimes in conjunction with rules or guidelines. But Bill Fair and Earl Isaac thought data could do a better job. They founded the Fair Isaac Corporation in 1956 and began calculating FICO scores of creditworthiness.”

-- Andrew McAfee. “Machine, Platform, Crowd.”.

Asians don't wonder, they know.

A headline in US Today plays down the sense of disbelief most asians feel when they hear Covfefe's rhetoric on North Korea.

Asians wonder who is more dangerous: President Trump or North Korean leader Kim Jong Un?

The metropolitan area of Seoul is home to 25 million people and remains vulnerable not just to a nuclear attack from North Korea but to a strike from the massive buildup of conventional artillery at the border just 35 miles away.
...
In Ho Chi Minh City, Dang Nguyen, 26, an associate professor, said most people aren’t discussing the threat of war breaking out in the region too seriously, but many are confounded by the impulsiveness of both leaders.

As expected, last night Chinese president Xi told Covfefe go fuck himself. Covfefe got upset and decided to impose tariffs on Chinese products. Sure, let's have a trade war, while we are waiting for a nuclear one.

BTW, neither Europeans nor Asians feel confident that the US will behave in a sane manner if a real conflict arises. After Covfefe threatened Venezuela with a military intervention, South Americans had become concerned too. They don't particularly like Maduro, but they don't like Covfefe and his pompous threats even more.

Quote of the Day: intuition

we say you should never trust your gut. You need to take your gut feeling as an important data point, but then you have to consciously and deliberately evaluate it, to see if it makes sense in this context. You need strategies that help rule things out.

- Daniel Kahneman and Gary Klein
http://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/strategic-decisions-when-can-you-trust-your-gut