I once did a course with a paramedic on basic aid. We were discussing choking, which is a condition that really needs a 2nd party to intervene. Someone asked what to do if you live alone (with no close neighbours) - the answer was essentially ‘good luck’
You’re right that really it’s collaborative production that’s the heart, and there’s no real benefit to LLMs.
It does feel like some classical explore/exploit algorithms could be interesting, but I imagine the challenge to any effort is really just getting enough high quality contributors
There’s a now quite dated comment from Merlin Mann: "Joining a Facebook group about productivity is like buying a chair about jogging.”
It’s fuzzy - but my recollection was Mann was a fairly renown productivity influencer (although I guess we wouldn’t have called it that then), who had an apostasy about it all.
> Home runs, walks, and strikeouts now dominate baseball, with 35% of plate appearances ending without involving seven defensive players. This has reduced balls in play by 20% since 1980, creating longer games with less action
Do baseball fans ever discuss potentially changing the rules or game setup to mitigate this?
The share value is price x shares, so there’s an effective dollar numeraire.
It’s easy to imagine a well performing stock that neverless loses due to a currency shock. Indeed this is why one would typically hedge currency risk if trading a name outside of accounting currency
This is heterodox opinion to modern financial theory. You’re welcome to hold it, I’m not interested in trying to convince you otherwise — I think it undermines the larger point I’m trying to make in an unhelpful way.
For all practical purposes you can - and the world broadly does - consider e.g. TBills to be risk free (or take your favourite interbank lending rate etc etc).
There is no risk free investment that will return you 12%. In a year where you are down 30% are you still contributing 5% on initial capital?
If not, you are just constructing an instrument where you only pass through downside risk
There's no competition that's running on copper -- even competitors without latency sensitivity with still be running over fibre because that's just the baseline infrastructure in datacentres, transatlantic etc.
Of course, yes, the HFT firms will be using also the standard tricks of microwave towers, shortwave radio, weather balloon etc, to beat the fibre route.