[skybrian]

It seems like your attitude towards statistical errors is largely going to depend on the risk of making bad predictions.

For example, the problem with the denominator containing "unknown unknowns" isn't much of an issue if you're searching photographs or optimizing ad revenue. It's much more important for something safety-related like building an airplane or a driverless car.

Finance is in the middle: not directly safety related, but modeling tail risk the wrong way could bankrupt the company.