Risky Business with Nate Silver and Maria Konnikova

Nate and Maria talk about what Luigi Mangione can show us about the danger of black and white thinking, and how platforms like Bluesky and X create bubbles that make matters worse. Then, with the reigning world chess champion dethroned after a surprising choke, they discuss how they deal with high-stakes situations. Risky Business will be off next week. We’ll be back with a new episode on 1/2/25. Happy New Year! For more from Nate and Maria, subscribe to their newsletters: The Leap from Maria Konnikova Silver Bulletin from Nate Silver See omnystudio.com/listener for privacy information.

What were the best, worst, and most interesting decisions of 2024, and what can we learn from them? Nate and Maria award the year’s most notable decisions in our first annual Riskies awards show. Also: degen of the year, nit of the year, and the cognitive bias that best explains 2024. Then, they give a quick poker update and answer a listener’s question about the expected value of learning multiple languages. For more from Nate and Maria, subscribe to their newsletters: The Leap from Maria Konnikova Silver Bulletin from Nate Silver See omnystudio.com/listener for privacy information.

Is Biden on tilt? Nate and Maria analyze the Hunter Biden pardon and try to find the line between false equivalence and equivalence. Then, inspired by the president’s present, they offer some thoughts on game-theory optimal gift giving for the holiday season. By the way, Nate and Maria will be hosting a poker meet up at the Bellagio next week! 12pm PST on 12/11 at the Bellagio poker room in Las Vegas. RSVP to attend For more from Nate and Maria, subscribe to their newsletters: The Leap from Maria Konnikova Silver Bulletin from Nate Silver See omnystudio.com/listener for privacy information.

It's the season of giving: colorful paper and shiny bows, sure, and charitable giving, too. In this special episode, Jacob Goldstein, the host of What's Your Problem, gets smart about donating. Did you know that spending money on others makes you happier than spending money on yourself? Or that altruistic nerds have discovered four of the most impactful charities in the world (per dollar spent)? Have you ever wondered how poker players think about giving? Dr. Laurie Santos from The Happiness Lab, Elie Hassenfeld of GiveWell, and Nate Silver and Maria Konnikova from Risky Business talk about how to maximize your giving – and why you’ll be happy you did. Link to donate: https://givingmultiplier.org/happinesslab Listen to The Happiness Lab with Dr. Laurie Santos Listen to Risky Business See omnystudio.com/listener for privacy information.

Nate and Maria share their game-theory-optimal travel strategies – the best time to get to the airport, the optimal airport meal, the value of rental car insurance, and more. Also: The biggest travel mistakes they ever made. Then, Maria breaks down a scandal in academic psychology research – and she and Nate discuss the underlying incentives that have led researchers to make bad decisions. Do you have a topic or theme you’d like Nate & Maria to discuss in a future episode? Reach out to us at riskybusiness@pushkin.fm with any suggestions. For more from Nate and Maria, subscribe to their newsletters: The Leap from Maria Konnikova Silver Bulletin from Nate Silver See omnystudio.com/listener for privacy information.

Nate and Maria talk through the game theory of how moderate Republican Senators are likely to react to Trump’s controversial cabinet nominees. Then, they discuss the new “Guardian Caps” the NFL has approved to lower the risk of concussion – and explain why most players are deciding not to wear them. For more from Nate and Maria, subscribe to their newsletters: The Leap from Maria Konnikova Silver Bulletin from Nate Silver See omnystudio.com/listener for privacy information.

Nate and Maria discuss the influence of Riverians like Elon Musk on the Trump Administration, and what’s next for Democrats looking ahead to 2026. Then, Maria tells Nate about a few key hands from the penultimate table of the North American Poker Tour Main Event. For more from Nate and Maria, subscribe to their newsletters: The Leap from Maria Konnikova Silver Bulletin from Nate Silver See omnystudio.com/listener for privacy information.

Nate and Maria take a closer look at the results of the election. They discuss polling errors, prediction markets, demographic shifts, and campaign strategy. And Nate shares some parting advice for President Biden. For more from Nate and Maria, subscribe to their newsletters: The Leap from Maria Konnikova Silver Bulletin from Nate Silver See omnystudio.com/listener for privacy information.

On the day before the election, Nate gives a final model update, explains the latest polls, and talks about what he’ll be looking for on election day. Then, Maria and Nate trade their predictions and fears for how election day will play out. For more from Nate and Maria, subscribe to their newsletters: The Leap from Maria Konnikova Silver Bulletin from Nate Silver See omnystudio.com/listener for privacy information.

What were the worst and best decisions of this year’s presidential campaigns? With less than a week to go, Nate and Maria look back at the key strategic decisions of the race. And of course, we spend some time looking at the model. For more from Nate and Maria, subscribe to their newsletters: The Leap from Maria Konnikova Silver Bulletin from Nate Silver See omnystudio.com/listener for privacy information.

Earlier this election cycle, Nate and Maria appeared on Odd Lots to talk about prediction markets and election betting. It was a fun conversation -- and we're releasing it now for anyone hoping to get their final bets in. Political prediction markets — where traders can make bets on election outcomes — have been around for years. But in this cycle in particular, we've seen an explosion of interest, with people constantly checking the odds on sites like Polymarket and PredictIt to assess the state of the US presidential race. But how accurate are these markets? How do people make money on them? What do they tell us beyond what traditional polling or modeling already indicates? On this episode, Odd Lots hosts Joe Weisenthal and Tracy Alloway speak with Nate Silver and Maria Konnikova, the co-hosts of the new podcast Risky Business. Silver is, of course, a famed election modeler, and both are serious poker players with good instincts for gambling and odds. We discuss how these markets work and what the markets and models are saying right now about the current US campaign. Read More at Bloomberg.com: https://bloom.bg/46Q66tS https://bloom.bg/3X54rNP See omnystudio.com/listener for privacy information.

This week, Nate and Maria talk to Daryl Morey of the Philadelphia 76ers about bringing game theory and probabilistic thinking to the NBA. And, of course, Nate and Maria discuss the election. For more from Nate and Maria, subscribe to their newsletters: The Leap from Maria Konnikova Silver Bulletin from Nate Silver See omnystudio.com/listener for privacy information.

Maria snagged her first World Series of Poker Bracelet! She and Nate break down her strategy on the crucial hands that got her the win. Then, we turn our attention to the Nobel Peace Prize and the p(doom) of nuclear warfare. And, of course, we have our weekly “Should Democrats Be Panicking?” segment. Further Reading: The Big Announcement More on Thomas Schelling More on Stanislav Petrov aka the man who saved the world For more from Nate and Maria, subscribe to their newsletters: The Leap from Maria Konnikova Silver Bulletin from Nate Silver See omnystudio.com/listener for privacy information.

Nate and Maria give a degenerate gambler's guide to the election, covering everything from Nate’s $100k gamble on Florida to listener-inspired prop bets. Maria explains why poker bots are shaking up the world of online poker. Plus, Nate and Maria lament the spread of AI “slop” online, and re-evaluate their p(doom) in light of recent developments at OpenAI. Further Reading: Should Kamala Harris gamble on a Blue Florida? from the Silver Bulletin The Russian Bot Army That Conquered Online Poker from Bloomberg A Further Investigation into the Existence of the BotFarm Corporation from Poker Pro Poker-Bots: The Call Is Now Coming From Inside The House from Legal Poker Sites For more from Nate and Maria, subscribe to their newsletters: The Leap from Maria Konnikova Silver Bulletin from Nate Silver See omnystudio.com/listener for privacy information.

Caroline Ellison, the second most important person who worked at FTX, was sentenced to prison this week. Nate and Maria talk about how she and Sam Bankman-Fried thought about making +EV bets (with other people’s money). They discuss her role – victim? villain? – and how she played out her real-life prisoner’s dilemma. Then, Nate gives an election update, and he and Maria discuss what people can do to influence the election in the final weeks. (Hint: It’s not donating to a presidential campaign.) Plus, Nate and Maria say farewell to two degenerate gamblers who passed away this week. Further Reading: Charity Navigator More on Betsy Paluck’s research Willy Nelson’s discography Dana Carvey’s Biden impression from SNL For more from Nate and Maria, subscribe to their newsletters: The Leap from Maria Konnikova Silver Bulletin from Nate Silver See omnystudio.com/listener for privacy information.

Nate and Maria discuss Anna Sorokin’s (AKA Anna Delvey) spin on Dancing with the Stars. Then, they debate the merits and limits of voting in your self interest, and Nate explains why Nebraska has his attention on the election map. For more from Nate and Maria, subscribe to their newsletters: The Leap from Maria Konnikova Silver Bulletin from Nate Silver See omnystudio.com/listener for privacy information.

Kalshi, a company that offers prediction markets, sued the US government in an effort to legalize betting on elections. Nate and Maria discuss the pros and cons of election prediction markets. Plus, Nate gives an election update and Maria learns what to do when there’s no plus-EV move. Further Reading: Ready Your Bets: Election gambling is going mainstream in the US from Politico Election Betting Halted After Appeals Court Agrees to Hit the Breaks from WSJ Betting On Elections Can Tell Us A Lot. Why Is It Mostly Illegal? from the New Yorker For more from Nate and Maria, subscribe to their newsletters: The Leap from Maria Konnikova Silver Bulletin from Nate Silver See omnystudio.com/listener for privacy information.

Nate and Maria discuss the Harris-Trump debate. Then, Nate gives an update on his election model, and Maria shares the outcome of her irrational move at a poker tournament in Barcelona. For more from Nate and Maria, subscribe to their newsletters: The Leap from Maria Konnikova Silver Bulletin from Nate Silver See omnystudio.com/listener for privacy information.

Maria sits down with the great Brian Koppelman (Rounders, Billions, The Bear) to learn about how he navigates risk in Hollywood and beyond. They discuss his methods of determining when a risk is worth taking, how to offset risk with hard work, and the time he bet big on Billions. For more from Nate and Maria, subscribe to their newsletters: The Leap from Maria Konnikova Silver Bulletin from Nate Silver See omnystudio.com/listener for privacy information.

Nate and Maria briefly discuss the latest election news. Then Tim Harford, author and host of Cautionary Tales, joins to discuss two of history’s most compelling con artists: Sam Israel III and John Law. Risk-related lessons are learned. Further Reading: A Con Man Who Lives Between Truth and Fiction from the New York Times The Murderer, The Boy King, and The Invention of Modern Finance from NPR (featuring our EP Jacob Goldstein!) For more from Nate and Maria, subscribe to their newsletters: The Leap from Maria Konnikova Silver Bulletin from Nate Silver See omnystudio.com/listener for privacy information.