# Useful ideas | Idea | | | -------------------------- | ------------------------------------------------------------ | | [[Ergodic Hypothesis]] | Time average ≠ ensemble average; what matters is your path | | [[Kelly Criterion]] | Size bets proportionally to edge; never bet everything | | [[Little's Law]] | Cycle time = work in progress / throughput | | [[Lognormal Distribution]] | Mean > median; estimates underpredict because tails are long | | [[Theory of Constraints]] | System output is limited by one bottleneck; fix that first |