Simple Maths Explains Why Rich Get Richer - Power Law - FutureIQ

Power law distribution is one of the more interesting distributions that can be often seen in ordinary situations. The prominent examples of power law in real life are returns on different stocks, social networks and the number of followers on these sites, populations of countries, and the number of lies told by people. All these things can be described by a power law. But what is a power law? How will it help you to learn how power law works and occurs in different situations? Let's find out all these things and everything else you need to know about power laws. Books: The 4 Hour Chef https://tapthe.link/4HrChef More videos for you: Benford's law: https://youtu.be/JHA2QpJKGN4 Karmanye Vadhikaraste: https://youtu.be/95Zi_4OthbY Listen to it on the podcast provider of your choice: https://tapthe.link/FutureIQRSSWatch other episodes of The FutureIQ podcast: https://www.youtube.com/playlist?list=PLAppTB0r5_TaYueZ0adD42Wiw5X-wTE4v Hope you enjoyed FutureIQ by Navin Kabra and Shrikant Joshi. Do hit us up on Twitter: @ngkabra http://twitter.com/ngkabra @shrikant https://twitter.com/shrikant Chapters: 00:00 Power law 02:02 Example 1 04:18 Theory 06:23 Real Life Examples 13:34 What follows power law & what doesn't 16:20 How to spot? 20:50 Problems 24:40 How to stay safe? 27:22 The power law of effort #futureiq #powerlaws