10 years ago
Does Lady Luck exist or do you make your own?
In 1992, Archie Karas, then a waiter, headed out to Las Vegas. By 1995, he had turned $50 into $40 million, in what has become known as the biggest winning streak in gambling history. Most of us would call it an instance of great luck, or we might say of Archie himself: ‘What a lucky guy!’ The cold-hearted statistician would laugh at our superstious notions, and instead describe a series of chance processes that happened to work out for Karas. In the larger landscape where randomness reigns...
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