Dissastisfied, Some Wall Street Technologists Flee for Start-Up Life

Re:Dissastisfied, Some Wall Street Technologists Flee for St... by nsoonhui on Tuesday September 21, 2010 @11:30PM (#1715086)

  But even quants are not immune to the feeling that what      they're doing for a living is not adding up to anything.

Not sure about this, but isn't the quants who are responsible for developing new pricing models for some esoteric options, new algos to capture the fleeting abnormalities in the market , improving (say) the existing Gauss Copula method that so that 2007 subprime crisis could be predicted or being avoided altogether (http://www.wired.com/techbiz/it/magazine/17-03/wp_quant) and so on.

How can you say that kind of work is unsatisfying and lacking of creativity?

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Re:Dissastisfied, Some Wall Street Technologists Flee for St... by frankc on Tuesday September 21, 2010 @11:43PM (#1715106)

It's not that it isn't interesting or creative (at times). It's that there isn't much social redeeming value. You might as well be a professional poker player, except your are hated instead of admired. Now that the status is gone, it really hits you that you are pretty much a leech on society. I say that as someone who works in this industry and has thought often about an exit strategy, but the money is still too good be to justify a the risk of a startup.

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Re:Dissastisfied, Some Wall Street Technologists Flee for St... by nsoonhui on Wednesday September 22, 2010 @12:12AM (#1715145)

I see. But I wouldn't be bothered about whether my work has "social redeeming value".

For me, it's much more important to firstly earn good money, secondly do something creative, not just typical CRUD applications.

And whether or not a work has "social redeeming value" is highly subjective. I, for one, don't think that Twitter has any bit of "social redeeming value". I can't see how a 140-char limit sentence can add much to our society.

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