This is an extremely useful idea that I've learned just recently. In fincance, "arbitrage" means buying and selling things in different markets to take the advantage of difference in price. Like buying a toy in India for $15, and then selling it for $25 in the US.
Turns out, you can arbitrage not just products, but also information, knowledge, skill, or even human relationships.
For example, let's say you have met two amazing people who don't know each other. When you introduce them to each other, you generate a massive amount of value for both of them essentially out of nothing - you have given each of them a gift of knowing someone great.
Another example, is arbitraging information. Eliezer Yudkowsky have learned a lot about rationality and human biases from the books he has read, and then parlayed it into …