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Writer of the personal-finance blog Of Dollars And Data and author of Just Keep Buying and The Wealth Ladder. Chief Operating Officer at Ritholtz Wealth Management.

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  The S&P 500’s price-to-sales ratio no longer signals what it once did, because today’s companies earn higher margins.

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  Therefore, the only correct interpretation of the P/S ratio over the last decade is that it doesn’t signal what it used to.

  Why I Was Wrong to Be Bearish on U.S. Stocksofdollarsanddata.com

Swedish programmer with degrees in engineering and psychology, author of Your Code as a Crime Scene and founder of CodeScene.

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  Structure and Interpretation of Computer Programs

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  Structure and Interpretation of Computer Programs (SICP) by Gerald Jay Sussman and Hal Abelson. SICP is my all-time favourite programming book. It's also where I learned about the power of wishful thinking when coding. SICP uses wishful thinking as a design tool: write code as if the abstraction already existed. Pretend. Then, once the ideal abstraction has taken shape, you go ahead and implement those functions. This meta-level is what made SICP so valuable. Ultimately, it's a book that teaches how to think about code and problem solving. I'm tempted to even say that SICP is more a work of art than a pure coding book, but I won't go there. A beautiful book.

  adamtornhill.substack.com

Geneticist at Harvard; reads ancient DNA to work out how populations moved and mixed, and wrote Who We Are and How We Got Here.

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  A selection signal can be validated without a significance threshold, by measuring how far it is enriched for mutations an entirely independent study says affect a trait.

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  Our interpretation of this result is that once you slide the statistic above five, essentially all the signals of natural selection are real.

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Founder and chief analyst of SemiAnalysis; reports on semiconductor supply chains, AI datacentre economics and what the chip export controls actually do.

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  What an accelerator needs from memory is bandwidth per unit of chip edge, and on that measure ordinary DRAM is an order of magnitude behind HBM.

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  and even if you take a generous interpretation of 128 * 8 gig transfers, you're at 128 gigabytes a second for the same shoreline versus 2 and a half terabytes a second. There's a there's an order of magnitude difference in bandwidth per edge area.

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Co-founder of Sundial; former vice president of product design at Facebook; author of The Making of a Manager; writes The Looking Glass.

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  Numbers offer a false precision: which metrics you choose to look at, and whether a five percent rise is good, are both art rather than science.

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  Because it's like okay we got these numbers and the numbers go up. It's like no, the fact that you still have to choose which things you look at is an art, not a science. And your interpretation of if the number went up 5%, is that good? Is that not good? Is also an interpretation and is an is an art, not a science.

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Co-founder of Y Combinator and Viaweb; essayist at paulgraham.com.

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  The Selfish Gene

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  At one extreme, something you read can change your whole way of thinking. The Selfish Gene did this to me. It was like suddenly seeing the other interpretation of an ambiguous image: you can treat genes rather than organisms as the protagonists, and evolution becomes easier to understand when you do.

  paulgraham.com

Machine-learning researcher on open language models; writes the Interconnects newsletter and the RLHF Book, after leading post-training at Ai2.

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  The Bitter Lesson is misread as being about scale; it is about refusing to add human priors, because a clever specific fix always loses to a simple scalable one.

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  The scale word gets a lot of attention in this. The interpretation that I use is effectively to avoid adding the human priors to your learning process. And if you read the original essay, this is what it talks about is how researchers will try to come up with clever solutions to their specific problem that might get them small gains in the short term while simply enabling these deep learning systems to work efficiently, and for these bigger problems in the long term might be more likely to scale and continue to drive success.

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Astrophysicist at the University of Rochester; works on the search for life elsewhere and wrote The Little Book of Aliens and Light of the Stars.

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  The many-worlds interpretation invents infinitely many unobservable universes to avoid what quantum mechanics is plainly saying: that measurement matters.

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  Many of them try to pretend the measurement problem isn't there. Go to enormous lengths like the many-worlds interpretation, literally inventing an infinite number of unobservable parallel universes to avoid the thing that quantum mechanics is telling them, which is that measurements matter.

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Astrobiologist and theoretical physicist at Arizona State University, working on assembly theory and the physics of life.

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  You are not constantly branching into many worlds — you are that space, and the quantum reality is not the one you live in.

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  So my interpretation of reality is if you fold it up, all that bifurcation of many worlds, and you just fold it into the structure that is you, and you just said you are all of those many worlds and your history converged on you, but you’re actually an object exists that was selected to exist, and you’re self-consistent with the other structures. So the quantum mechanical reality is not the one that you live in. It’s this very deterministic, classical world, and you’re carving a path through that space. But I don’t think that you’re constantly branching into new spaces. I think you are that space.

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Theoretical physicist and philosopher, Homewood Professor of Natural Philosophy at Johns Hopkins and fractal faculty at the Santa Fe Institute. Writes the Preposterous Universe blog and hosts the Mindscape podcast.

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  The Copenhagen interpretation taught to physics students is a God-awful mess; many-worlds is beautiful because it needs fewer ingredients and one equation.

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  If you think about how we teach quantum mechanics to our students, the Copenhagen interpretation, it’s a God-awful mess. No one’s going to accuse that of being very beautiful. I’m a fan of the many-worlds interpretation of quantum mechanics, and that is very beautiful in the sense that fewer ingredients, just one equation, and it could cover everything in the world.

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Physicist and science communicator. Writes Backreaction and makes videos explaining new physics and astronomy results, frequently to argue that the headline about them overstates the case.

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  The Copenhagen interpretation is not locally causal in Bell's sense.

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  The Copenhagen Model-and because of that, the Copenhagen Interpretation-is not locally causal in Bell's sense.

  Quantum Confusions, Cleared Up (or so I hope)arxiv.org