Summary
The Star Talk Sports Edition podcast episode titled "How to Make Millions Counting Cards" discusses the world of blackjack and card counting. The guest, Simeon Ducash, a former professional blackjack player, shares his journey from being a computer science geek to becoming a successful card counter. He attributes his success to his privileged background, motivation to work hard, and willingness to learn and practice. The conversation delves into the skill set required for card counting, which involves basic math skills and memorizing a system, as well as the importance of discipline and avoiding distractions while playing.
Ducash and his team used various techniques, including card steering, to gain an edge in blackjack. They also used quantified thinking to analyze their results and improve their performance. Over time, technology has improved, but the use of computers in the casino is illegal. The introduction of auto-shufflers with eight decks has made it more difficult to count cards, but it's still possible with diligence and resetting after each shuffle. Casinos have known about card counting since the 60s and occasionally change the rules to counter it.
The podcast also touches on the importance of immigrants and their contributions to society. Ducash, an immigrant entrepreneur himself, believes that immigrants make the best entrepreneurs because they have an unusual level of ambition, self-belief, and drive. The majority of successful companies in the US are started by immigrants, and a third of Nobel prizes in sciences given to American citizens have gone to immigrants. Ducash is involved in a fund that invests in immigrant entrepreneurs and has also started a non-profit to help refugees.
The podcast concludes with a discussion on doing the right thing to make the world a better place. Overall, the episode provides insight into the world of card counting and the life of a professional blackjack player, as well as the importance of immigrants and their contributions to society.
