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| ▲ | optimiz3 11 minutes ago | parent | next [-] |
| >>The social justice / millenial part of me hates this for being funded by high frequency trading, of all things. What a colossal waste of resources. HFT makes the market more efficient, just like the AI eliminating jobs makes business more efficient. It's been numbing watching HN gladly sacrifice it's own to the altar of AI over and over. There is no moral high ground. Personally as a retail quant, it's really rewarding to build models that extract edge from the market using the very AI tools that have eliminated all hope of ever re-entering the tech-field absent being an entrepreneurial founder. |
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| ▲ | bluecalm 2 hours ago | parent | prev | next [-] |
| >>The social justice / millenial part of me hates this for being funded by high frequency trading, of all things. What a colossal waste of resources. It's more efficient now than it used to be - by which I mean the total taken by HFTs is lower than what people used to pay in spreads and commisions. Price discovery is better (you get closer to a fair price if you trade) and spreads are lower. The whole industry that used to prey on spreads and ignorance of retail investors is gone. What not to like about HFT? |
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| ▲ | mitxela 2 hours ago | parent [-] | | The upwards money funnel? Maybe they're both bad? | | |
| ▲ | shric 41 minutes ago | parent | next [-] | | I work for an HFT (not Jane Street) so I am biased, but we (the HFT industry as a whole) are quite small compared to big tech. I’d estimate the total global HFT revenue to be 100 billion dollars a year, which is less than Apple and a tiny percentage of all big tech combined. | |
| ▲ | selestify an hour ago | parent | prev [-] | | How is this any more of an upwards money funnel than the prohibitively expensive spreads and commissions that hindered lay access to the markets? |
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| ▲ | vzcx an hour ago | parent | prev | next [-] |
| There is an open source silicon community built around multi-project wafer shuttles that has nothing to do with HFT. |
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| ▲ | TacticalCoder 2 hours ago | parent | prev | next [-] |
| Western societies in which HFT happens also happen to have the best medicine, leisure (many different sports for example), education etc. You think you could do better by having a planned economy, with your eminence deciding what's a waste and what is not? And why should I believe you it'd end up differently than North Korea or Cuba? Or you'd somehow manage to take what you think are all the good parts of western societies while outlawing what's wasteful and we'd have an utopia? |
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| ▲ | salvesefu 2 hours ago | parent | next [-] | | this reply isn't in good faith. OP is being self critical examining contradictions of living in complex interdependent societies. why are your queries so aggressively factional? | | |
| ▲ | genxy 2 hours ago | parent [-] | | There is a very vocal minority of folks that when they come across a comment that at all looks like an opponent of ancap [1], they become unhinged, even in this case where the GP was being internally reflective about their own beliefs. The irony has most likely circled their drain (which just goes into a creek anyways). [1] https://en.wikipedia.org/wiki/Anarcho-capitalism | | |
| ▲ | msdz 2 hours ago | parent [-] | | Which is especially ironic when they bring up an example like Cuba, where at least today, you can’t really say whether the policies or de facto sanctioning it receives are at fault for the current economic state. |
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| ▲ | mitxela 2 hours ago | parent | prev [-] | | > You think you could do better by having a planned economy Nobody mentioned that crazy scenario so why bring it up? BTW the USA is already a planned economy. | | |
| ▲ | rowanG077 14 minutes ago | parent [-] | | I think they mean a planned economy in the sense of the Soviet Union. The USA is not that, not even close. |
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| ▲ | kccqzy 2 hours ago | parent | prev [-] |
| I don’t think Jane Street does high frequency trading. I think you might be thinking of Citadel or HRT. Jane Street is more of an old-school quant hedge fund, no? |
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| ▲ | wyre 2 hours ago | parent | next [-] | | The page says their hardware team builds the fastest trading systems on the planet. Jane Street does HFT. | |
| ▲ | vzcx an hour ago | parent | prev [-] | | Their bread and butter was, and as far as I know still is, trading in ETFs and ADRs. These things have a mechanism to create and redeem in exchange with underlying securities. This means one can make some money arbitraging differences between the bundle and components. As this game got more competitive they seem to have branched out into other kinds of business including HFT. |
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