5 ms·

What a waste of human ingenuity. And I thought ad-tech was bad enough

• unishark 6y ago
  That is true for much of the finance field.
  • emteycz 6y ago
    Actually it's not. There are objective benefits to society that you simply ignore.
    • piva00 6y ago
      As there are objective downsides that we, collectively, are ignoring right now. Financial capitalism shouldn't be praised, at the very best it's a lesson, we got useful tools out of it and that is all.
      • emteycz 6y ago
        I am not praising anything, I am correcting your statement that much of the financial industry is a waste of human ingenuity. That "waste of human ingenuity" enabled us to build the modern world.
        • piva00 6y ago
          It wasn't my statement.
• TomGullen 6y ago
  I think you can argue on the whole is a waste, but I do believe it does have some advantages. EG efficient HFTs can reduce bid ask spreads which does save a lot of money for retail traders.
  • sverhagen 6y ago
    I think the premise was that such investments are wasteful if it's only for a trading arms race.
  • Dylan16807 6y ago
    But being able to do that 50 milliseconds faster really doesn't.
  • sumedh 6y ago
    > EG efficient HFTs can reduce bid ask spreads which does save a lot of money for retail traders. Berkshire Hathway has $1000+ spreads yet you dont see a lot of people complaining.
    • TomGullen 6y ago
      Stock price is probably a pretty big factor in that along with volume.
      • sumedh 6y ago
        Exactly, that is the point.
• paul_f 6y ago
  Don't forget using the equivalent of the entire power consumption of Austria to mine bitcoin?