The first neural networks were developed by intelligence services (DARPA, CIA, MOSAD) to play backgammon, particularly Gerald Tesauro's TD-Gammon at IBM in the 1980s, which is instructive for understanding AI because the mistakes people make with AI in backgammon are the same mistakes made in investing.

factualpending

Speaker

Alex Pascet

Evidence Quote

the first neural nets were developed by intelligence services... one of them was developed to play back... Gerald Toro at IBM... TD gamut. [15:14]

Source

Hedge Fund Manager Alix Pasquet: Why Smart People Lose MoneyOdds on Open
Created: 8/12/2026, 10:28:18 PM

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