This graph will change how you see the world

Description :

In this video, Derek Muller and Casper Mebius guide viewers through the concept of power laws, starting with an introduction to what a power law is, then exploring expected values, the St. Petersburg paradox, and how outliers can dominate averages. They discuss fractals and power laws, self‑organized criticality, controlled forest fires, earthquake prediction, critical systems and universality, how some businesses are built on power laws, and finally compare normal and power law distributions. 0:00 What is a power law? 4:31 Expected Values 8:49 The St. Petersburg Paradox 11:37 Outliers Dominate Averages 15:23 Fractals and Power Laws 19:28 Self‑Organized Criticality 24:08 Why do we light controlled forest fires? 26:40 How We Can Predict Earthquakes 32:11 Critical Systems and Universality 36:31 How Some Businesses Are Built On Power Laws 39:30 What game are you playing? Normal or power?