Darwin, Punctuated Equilibrium and the Stock Market
During a speech at Carnegie Mellon1 , Tom Siebel, founder of Siebel Systems and now C3.ai, an artificial intelligence software platform company, referenced Stephen Jay Gould, deceased Harvard paleontologist and author of the theory of “Punctuated Equilibrium.” I read about Gould more than 30 years ago and immediately sensed a connection between his theory and the actions of stocks and the stock market, as I will explain in this newsletter.
