The EE/IC Design part of me loves this for trying to build a community around what is typically a very opaque and secretive industry. 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.
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?
>>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?
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?
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?
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).
The EE/IC Design part of me loves this for trying to build a community around what is typically a very opaque and secretive industry. 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.
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?
The page says their hardware team builds the fastest trading systems on the planet. Jane Street does HFT.
>>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?
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?
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?
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