I'm sorry but I don't understand what you are getting at. Besides index funds not being impacted by algorithm trading that much, the author of that article also

I'm sorry but I don't understand what you are getting at. Besides index funds not being impacted by algorithm trading that much, the author of that article also notes that trading stock doesn't to much to allocate capital anymore, like it used to. They get some money at ipo, but after that most companies aren't selling stock to get more capital for expansion. I think we would be better off without the financial industry taking a pointless large cut of the economy, and reducing their stake at least seems sensible.