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"By knowing what people search for and modeling our behavior, they have unprecedented ability to forecast future events. I expect Facebook and other, lesser kno
by ErikAugust 6y ago
"By knowing what people search for and modeling our behavior, they have unprecedented ability to forecast future events. I expect Facebook and other, lesser known companies do the same. I believe it is dangerous for a company to have this ability."
I have thought of this as "search-based front-running". How much of it goes on, I would like to know.
- itsspring 6y ago> they have unprecedented ability to forecast future events. Per Matt Levine's "anything can be securities fraud if you don't tell your shareholders about it", then having the "unprecedented ability to forecast future events" and not informing your shareholders about it could be argued as securities fraud in court. Something to think about.
- caseysoftware 6y agoOne of my favorite articles on that front is where two Capital One fraud analysts used internal purchase data to invest in consumer-oriented brands. Yes, it became insider trading: https://www.reuters.com/article/us-sec-capitalone-insidertrading-idUSKCN0UR2KR20160114 https://www.reuters.com/article/us-sec-capitalone-insidertra... Key quote: The Huangs, who are not related, began with a $147,000 investment and together made more than $2.8 million from the trades, a three-year return of 1,819 percent, the SEC said.
- slowmovintarget 6y agoIt seems like corporations will develop psychohistory and use it for profit rather than some Hari Seldon type using it to save civilization.