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NunoSempere  7mo ago (forecasting.substack.com)   1211 thread views

The State of Forecasting: Dynamics, Challenges, Hopes

forecasting.substack.com

In short…

  • Forecasting platforms and prediction markets are partially making the pie bigger together, and partially undercutting each other.
  • The forecasting ecosystem adjusted after the loss of plentiful FTX money.
  • Dustin Moskovitz’s foundation (Open Philanthropy) is increasing their presence in the forecasting space, but my sense is that chasing its funding can sometimes be a bad move.
  • As AI systems improve, they become more relevant for judgmental forecasting practice.
  • Betting with real money is still frowned upon by the US powers that be–but the US isn’t willing to institute the oversight regime that would keep people from making bets over the internet in practice.
  • Forecasting hasn’t taken over the world yet, but I’m hoping that as people try out different iterations, someone will find a formula to produce lots of value in a way that scales.
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If people disagree on the answer then they need better forecasting.

Sure, but I don't think we're going to ever get to that point anytime soon, because some questions are real hard to forecast. I don't think anyone today knows when say the Israel-Palestine conflict will next have a ceasefire, but that's something a lot of people would like to know. If we get to a point where we can forecast so well everyone agrees on when it's most likely to end, then that's mission accomplished.

If we get to that point then the conflict would never have happened in the first place.

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