>I think a 100% automated market would collapse. Even the 70% automated market of equities has shown some scary positive feedback loops that need human interven

>I think a 100% automated market would collapse. Even the 70% automated market of equities has shown some scary positive feedback loops that need human intervention. Which is because the automation isn't capable of fully gaming itself yet. In game theory, you don't have to be the smartest person in the room, you just have to know what everyone else is going to do. In a ~100% automated market, whoever can identify the patterns emergent from the automated rules will be able to beat the automation.