In 2003 Michael Lewis the financial journalist author of liars poker and the big short published Moneyball the Art of Winning An unfair Game to critical acclaim . In 2011 Moneyball the film was released and became an instant Hollywood blockbuster reaching a mass audience .
Today the term to MONEYBALL like to google or to hoover has become a verb . Studied at business schools . Moneyball is not about diversity and inclusion but competitive advantage .
The talent scouts inside baseball had become complacent, set in their ways , institutionalised incapable of exceeding expectations .The talent existed but it had been misunderstood , misallocated and mismanaged.
Billy Beane the then GM of the Oakland A’s genius, to see untapped potential, where others only saw misfits and castoffs .Leveraging new knowledge inside a 160 year old industry Beane was able to adapt . Assembling a championship winning side with a budget just a quarter of the size of his rivals .
Moneyball is often misunderstood . It is not about numbers , it is about uncovering systematic irrational unconscious BIAS. You can think of BIAS as a set of unconscious perceptual flaws .Common Bias include anchoring, group think, confirmation, present , availability , attention , framing , the gambler fallacy , sunk cost , loss aversion and overconfidence .
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