Google to Buy Artificial Intelligence Startup DeepMind for $400M
https://news.ycombinator.com/item?id=7127938
> $400M for a company I've never heard before is quite surprising
> If the article is correct, they bought the team.
"When I was an intern, in one of the training presentations, a senior banker told us to distinguish between the process and the results. He said that we should focus on the process, which we can control, rather than the result, which is subject to luck. And here at Goldman, he said, we don’t punish people for losing money for the right reason. I have always loved asking questions, so I asked him, was anyone ever punished for making money for the wrong reason?"
Just like that old Dropbox comment that people love to bring up, you can make a gazillion dollars off a bad bet, and you can lose following a good strategy, that's the case everywhere probabilities are involved. Outcomes don't determine if the original evaluation was sound or not.