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Re:Goldman Sachs is spending $100M to shave milliseconds off... by ypcx on Friday August 02, 2019 @05:51AM (#20591746)
The theory sounds great. But why then, our streets are lined with homeless, and our nations are stricken with poverty? Could it be that the only real aim and motivation of market traders is to earn money? One day, maybe.... when these are replaced with DAOs on the blockchain. But until then it's the Wolf of Wall Street.
Re:Goldman Sachs is spending $100M to shave milliseconds off... by JDiculous on Friday August 02, 2019 @06:28AM (#20591876)
Because having homeless people lining our streets on our commutes to/from our jobs is a daily reminder that if we don't work hard enough to increase corporate profits, then our bosses might lay us off and we'll end up like them.

That or moral apathy. At some point in the 80s we decided that markets driven by business profits should dictate every aspect of society.

I imagine 100 years from now they'll look back at today in disgust.

Re:Goldman Sachs is spending $100M to shave milliseconds off... by jmastrangelo on Friday August 02, 2019 @04:50PM (#20596537)
I find it funny that people scorn the pursuit of economic profits, but complain that the other "better" activities aren't given economic rewards.

Ultimately "Corporate Profits" produce the economic value that people desperately want, and participating in the creation of something people want _should_ be a prerequisite for getting economic value in return.

Re:Goldman Sachs is spending $100M to shave milliseconds off... by JDiculous on Saturday August 03, 2019 @07:44AM (#20599933)
I'm not really sure what you're arguing here. All I'm saying is that corporate profits shouldn't dictate every aspect of society. That's why sane countries have implemented things like universal healthcare and free primary/secondary education.

I'm also proposing that in a wealthy first world country, perhaps nobody should have to go homeless. Crazy idea, I know.

What have these "corporate profits" you worship ever done for homeless people?

Re:Goldman Sachs is spending $100M to shave milliseconds off... by assblaster on Friday August 02, 2019 @07:47AM (#20592267)
100 years after Communism burst on the scene, we currently look at that development with disgust.

Right now most people have access to abundant food, cellphone in every pocket, access to a wealth of information, access to transportation, incredible medical advances.

I can't imagine that the progress we've made would be scorned. Like other market driven forces, bad players will not be rewarded as information about them increases.

However, if information is not increased because of something like a company buying a newspaper so investigative threats can be used against politicians to avoid information gathering, then we have problems. This is more crony capitalism than just capitalism.

Re:Goldman Sachs is spending $100M to shave milliseconds off... by FabHK on Friday August 02, 2019 @06:05PM (#20597024)
You are right that the world has gotten immensely better in recent decades, pulling hundreds of millions out of poverty.

If you compare real median wage growth in the West in the 60s and 70s with the last two decades though, it doesn't look so great. Maybe we can do better.

Re:Goldman Sachs is spending $100M to shave milliseconds off... by annabellish on Friday August 02, 2019 @08:26AM (#20592445)
"What we have now is the bad kind of capitalism! There's a different, good kind of capitalism which in theory does all these great things!" is essentially the "communism works great in theory" argument.

100%, both systems are great theories. However, the last few hundred years of actually trying to implement capitalism has "most people have access to abundant food, cellphone in every pocket, access to a wealth of information, access to transportation, incredible medical advances.", if by "most people" you mean "possible a majority of people in the richest countries in the world". Unfortunately, the cost of that is that we've done irreparable damage to our environment, are causing the worst Great Extinction ever, and have caused a climate crisis that may cause us to go extinct.

Re:Goldman Sachs is spending $100M to shave milliseconds off... by assblaster on Friday August 02, 2019 @08:42AM (#20592519)
Hundreds of millions of people have been brought out of poverty, outside the United States.
Re:Goldman Sachs is spending $100M to shave milliseconds off... by benaadams on Friday August 02, 2019 @10:14AM (#20593068)
That's due to technology; not capitalism, they aren't the same thing.

A huge amount of R&D happens in academia which isn't capitalism; but then is monetised by capitalism (but doesn't reinvest it back into the academia)

Re:Goldman Sachs is spending $100M to shave milliseconds off... by hpkuarg on Friday August 02, 2019 @10:30AM (#20593233)
Converting that R&D into actual products and services, I'd wager, is quite difficult without a profit incentive. It's like the difference between having a great idea for a startup and actually turning it into a functioning company.

Without invoking too many absolutes, there's so much bullshit involved in the latter that people doing the former aren't willing to put up with. It's mostly two different kinds of people with two different skillsets.

Re:Goldman Sachs is spending $100M to shave milliseconds off... by bumby on Friday August 02, 2019 @10:33AM (#20593255)
Doesn't capitalism either directly or indirectly fund that academic research? When I was in a university lab, all of my work was funded by private companies
Re:Goldman Sachs is spending $100M to shave milliseconds off... by jmastrangelo on Friday August 02, 2019 @04:43PM (#20596475)
Nearly every country on Earth that has bought into the Capitalist system has become far better off than they were 100 years ago, not just the richest countries in the world.

I agree that "No true Capitalism" is just as bad a fallacy as "No true Communism". But our real life imperfect Capitalism has still had incredible results whereas real life imperfect communism has lagged significantly and failed more brutally.

Re:Goldman Sachs is spending $100M to shave milliseconds off... by JDiculous on Saturday August 03, 2019 @07:48AM (#20599949)
Woa who said anything about communism? All I suggested is that we should take care of our citizens. We could do this for example via Universal Basic Income, which is very much capitalist (unless you abide by the common American false notion that "helping people" = communism).

> most people have access to...

Why is "most" a good enough metric? If most people have homes but my commute to work is littered with tents of homeless people, is that adequate? Should politicians just throw in the towel then and call it a day because "most" people have houses?

I think we can do better.

Re:Goldman Sachs is spending $100M to shave milliseconds off... by grenoire on Friday August 02, 2019 @06:05AM (#20591791)
The markets on which financial instruments are traded are effectively separate from the ones where policy decisions are being made on, such as labour, vocational education, and healthcare. It's not the derivatives trading that is problematic, it's the market inefficiencies not being resolved by governments.
Re:Goldman Sachs is spending $100M to shave milliseconds off... by IanDrake on Friday August 02, 2019 @08:34AM (#20592476)
Yes, the real aim and motivation of traders is to earn money and respect. What else should it be?

Why pick on traders? I know a lot of developers making well into six figures. I hear them talking about getting 3 new graphics cards for their gaming rigs instead of how they worked at a soup kitchen.

What is your point? That GS should be donating 100m to charity instead of reinvesting into their business?

Where do you think that money goes? Workers will be paid to implement their plan and taxes will be paid on those wages. In fact about 40% of that 100m will eventually end up being paid in taxes.

Re:Goldman Sachs is spending $100M to shave milliseconds off... by ypcx on Friday August 02, 2019 @10:28AM (#20593213)
I don't mean to pick on traders. Nominally it's a hard and honest job and money made is money deserved.

The problem is that if I have a company [and this is a systemic example, no exceptions, see #1], and I allow (central-)bank "friendly" people on its board, so that we can receive as many low- or zero-interest loans (with open due date or refinancing at will, i.e. free money, printed freshly from thin air) from the bank, so that we can under-price, destroy and acquire all our competition, become a monopoly AND finance a massive lobbying power in the DC so that we can get laws passed which increase our profits (at the disadvantage of the citizen), you can bet all your savings that such system's demise is written in the fabric of space and time, because the most essential feedback loops (and the ones that you mention, the ones in the market, work in exactly the opposite way) in that system have been disabled and its just a runaway train without brakes.

Buying laws starts and finances wars, relaxes food, water and environmental toxicity limits, enables false advertising, eventually raises taxes, enables trading of derivatives so detached from reality that a computer game pales in comparison, you name it. The days of this system are numbered and we should really speed up the development of trustless alternatives based on blockchain, or we're going to hit the wall really hard.

#1 https://www.newscientist.com/article/mg21228354-500-revealed...