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And this is what some of the brightest minds in the country are being harvested to develop. One of the biggest ongoing travesties.
by Workaccount2 1y ago
And this is what some of the brightest minds in the country are being harvested to develop. One of the biggest ongoing travesties.
- Ozzie_osman 1y agoWell that and increasing Daily Active Users and ad revenue on social media and video platforms.
- Workaccount2 1y agoBut those have a tangible return to society that people flock to. Almost the entirety of Google products is open to anyone on Earth to just open up an use because that ad model is so successful. People click high value ads and it covers to cost of video distribution to anyone with an cell phone and wifi. Jane street on the other hand is arbitraging against regular folks money, so they can distribute the gains to their select high value clients. There is no free office productivity suite and limitless "How to repair cell phones to start your own business" videos distributed to everyone for free. In a way, they are doing opposite functions. Ad media takes from people who buy stuff and gives to people who don't (or cant't) buy anything. Jane street and their ilk take from regular people and give to those who have everything already.
- objektif 1y agoYour "ad" people are rotting the brains of entire generations by addicting kids using many different tactics (insta, YouTube shorts, TikTok....) . Please spare us the moral judgement.
- dmonitor 1y ago"brain rot" is a subjective criticism. objectively speaking, the kids are making art and sharing it with each other. it's at worst an extension of the entertainment industry. you can not like the art, but it's at least art. the finance industry doesn't produce anything of value. it just turns $1 into $2 and liquidates productive industries.
- noosphr 1y agoLuckily, the majority of the brightest minds working on fundamental problems have recently been fired.
- thierrydamiba 1y agoCash rules everything around me has been the slogan for this generation. Why wouldn’t they chase the biggest dollar?
- Avicebron 1y agoBy this generation please clarify you mean the ones that started this campaign in the 70s, not the subsequent lost generations of people who can barely envision owning a home with a graduate degree in engineering
- MichaelOldfield 1y agoCome on. How can you not be able to buy a house with an engineering degree? It's one of the best degrees out there. Define buying a house.
- nine_k 1y agoFor instance, buying a house in Bay Area. Realty around NYC is not very affordable, too. But such places is where the engineering jobs are.
- lupusreal 1y agoIf you get a real engineering degree instead of computer science slop, then your options for where to live and work (without relying on WFH trends going the right way for you) open up substantially.
- MichaelOldfield 1y agoa real computer science degree from a good school is a real engineering degree. And you can do a lot of things with it. Pivot quickly. an "information technology" degree that teaches React and stuff is not engineering. This is the last website I would imagine people complaining they can't buy a house.
- fny 1y agoNow consider crypto.
- jeffrallen 1y agoJane St is probably manipulating crypto too.
- penguin_booze 1y agoWell, they said 'brightest'; so let's not.
- pjc50 1y agoMuch simpler: most of the instruments traded have no fundamental returns, so people can dispense with the pretense of running a real market and go straight to the gambling and manipulation that they want.
- globular-toast 1y agoBrightest minds in the world from what I can tell. They are particularly sickening in the way they specifically target certain demographics to come and leech for them. Imagine becoming highly educated and then just using that ability to cream off the output of people who labour every day producing things that are actually useful. The tragedy is all the signals from society are saying this ok. Nobody questions the money. I got excited thinking we would 15 years ago, but nobody cares. I guess if you're bright enough to come up with a solution you could be like Satoshi, or you could just work for Jane Street and suck as much as you can before you die.
- MichaelOldfield 1y ago"I guess if you're bright enough to come up with a solution you could be like Satoshi, or you could just work for Jane Street and suck as much as you can before you die." the outcome is the same. you're sucking money out of people.
- jddj 1y ago> certain demographics Huh. Interesting point. I guess I never thought about it when JS were the secretive OCAML hacking prop quant fund, but if they become just another use-size-to-win badguy I can see the angle.
- pas 1y agodepends on how you define bright. people who get stuck in finance - especially trading - are not that bright IMHO compared to the hopelessly curious stubborn ones who go into philosophy or hard sciences or other areas of research.
- geodel 1y agoExactly, they are just so bright they don't know anything about the world or what are they doing.
- phendrenad2 1y agoThis seems like a play on "The best minds of my generation are thinking about how to make people click ads. That sucks." - Jeff Hammerbacher But is it really? Is buying a lot of stock and selling it later really something that takes a genius?