I wouldn't be so sure. While I doubt YouNoodle will be able to make valuable predictions, people are gullible and this tool will produce great linkbait.
The predictions from YouNoodle might be closer than simply picking a random number from 0-$1B, but I think a regression with a few regressors(founders previous startup success, current income, market size, etc) would be just as useful.
But most people don't understand statistics, and if you overestimate the valuations of new startups, that particular startup will likely link to YouNoodle. They could turn into a successful player in the TechCrunch/Valleywag space.
I wonder if the prediction will be more than just a single number but in fact a distribution of probabilities with predictions. That will make it less trashy.
Comments
I wouldn't be so sure. While I doubt YouNoodle will be able to make valuable predictions, people are gullible and this tool will produce great linkbait.
The predictions from YouNoodle might be closer than simply picking a random number from 0-$1B, but I think a regression with a few regressors(founders previous startup success, current income, market size, etc) would be just as useful.
But most people don't understand statistics, and if you overestimate the valuations of new startups, that particular startup will likely link to YouNoodle. They could turn into a successful player in the TechCrunch/Valleywag space.
I wonder if the prediction will be more than just a single number but in fact a distribution of probabilities with predictions. That will make it less trashy.
It might even make sense for Techcrunch etc. to buy the thing to stick on their website.