Re:Timekeeping in Financial Exchanges
by lordnacho on Sunday October 11, 2020 @03:28PM
(#24748345)
The modern economic concept of value is also largely subjective, so I don't think you need to caveat your thoughts with that.
As someone who used to write HFT code, I've vascillated between "it adds liquidity" and "it's a video game played between HFT firms". Neither is entirely satisfactory.
When I meet up with my old engineering friends, almost nobody is an engineer in the sense you might have thought when applying during the last year of high school.
Incentives are messed up. I remember getting offered £12K for a half year internship as an actual engineer. I took a marketing internship instead for a few grand more. My friend took an internship at Goldmans and was on £39K. When we got back, everyone applied to work in finance and consulting.
According to the market, making powerpoints is more valuable than making bridges, aircraft, medical equipment, etc.
We do somewhat envy the lady who took up an actual engineering job at a startup space launch company run by an eccentric South African guy.
As someone who used to write HFT code, I've vascillated between "it adds liquidity" and "it's a video game played between HFT firms". Neither is entirely satisfactory.
When I meet up with my old engineering friends, almost nobody is an engineer in the sense you might have thought when applying during the last year of high school.
Incentives are messed up. I remember getting offered £12K for a half year internship as an actual engineer. I took a marketing internship instead for a few grand more. My friend took an internship at Goldmans and was on £39K. When we got back, everyone applied to work in finance and consulting.
According to the market, making powerpoints is more valuable than making bridges, aircraft, medical equipment, etc.
We do somewhat envy the lady who took up an actual engineering job at a startup space launch company run by an eccentric South African guy.