Erik is joined on this episode by Scott Page (@Scott_E_Page), professor at the University of Michigan and author of The Model Thinker.

They talk about:

* The idea of the wisdom of crowds.

* Why cognitive diversity is important for a wise crowd.

* Whether individual experts or groups of ordinary people make better predictions.

* Which mental models VCs should be using.

* Why Scott says “mastery is knowing when to use the right mental model at the right time.”

* Why, if you’re watching basketball, you may as well be watching people roll a die.

... and much more.

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Check us out on the web at villageglobal.vc or get in touch with us on Twitter @villageglobal.

Venture Stories is brought to you by Village Global, is hosted by co-founder and partner, Erik Torenberg and is produced by Brett Bolkowy.