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I didn't read it as a criticism of machine learning or intellectuals, but rather of the many bright minds that are trying to make money off of the stock market

I didn't read it as a criticism of machine learning or intellectuals, but rather of the many bright minds that are trying to make money off of the stock market by writing software to make better trades. This kind of activity doesn't create value or even, to my knowledge, liquidity. I believe he's suggesting that there are a lot of other areas where their knowledge and skills could be applied which would create some societal benefit as a byproduct.

wyager 10y ago
> This kind of activity doesn't create value or even, to my knowledge, liquidity. It does both, the latter by more efficiently communicating price information and incorporating future events into asset prices. More accurate AI traders absorb risk, which is good for the production economy.