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finexplained

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finexplained
·3 jaar geleden·discuss
I work on very interesting technical problems with very smart colleagues for excellent pay. All my career progression is in compensation, so I can remain an IC forever and no one thinks that's a negative. I'm subject to no politics whatsoever, and there's very little politics in the company as a whole. The work I do every day has a direct material impact on the company and I'm rewarded proportionally to my impact. My WLB is so-so, but it's better than it was in grad school so I'll take it.

Regarding social impact, the world does have some demand for liquidity and price discovery. Providing those services is both essential and extremely difficult. It's definitely not the most social good I could be doing with my talents, but I think it's weakly positive.
finexplained
·3 jaar geleden·discuss
I work at an HFT firm. Most fun I've ever had.
finexplained
·3 jaar geleden·discuss
I thought the H100s were ~30-40k each. But they're not widely available and you usually buy multiple boxes from vendors that also come with expensive CPUs/RAM etc.
finexplained
·3 jaar geleden·discuss
I'm sorry, I know we're not suppose to engage in ad hominem attacks. I'll refrain in the future.
finexplained
·3 jaar geleden·discuss
The deltas between the military/technology of the worlds top economies might not even be noteworthy to a species capable of interstellar travel. From there perspective we might just all look the same.
finexplained
·3 jaar geleden·discuss
[flagged]
finexplained
·3 jaar geleden·discuss
Empirical studies can be surprising.
finexplained
·3 jaar geleden·discuss
The five paragraph format will forever be suspicious.
finexplained
·3 jaar geleden·discuss
tldr: LoRA fine-tuning of an open-source alpaca model.

See https://arxiv.org/abs/2305.15717 for why calling this a private ChatGPT is probably misleading.
finexplained
·4 jaar geleden·discuss
> And are most of the people she‘s well-connected to not annoyed that she lost their money?

Ya admittedly one would have to assess that and also make some estimate about how much her notoriety will positively or negatively affect her offsprings' outcomes. I tend to lean toward it being a net positive, since fame seems valuable almost regardless of how it's acquired these days.

> And isn‘t attractive just stating the same as good genetics?

It also includes height, medical history, longevity, intelligence, ambition/drive, work ethic. I admittedly don't know much about medical history, but I might be willing to gamble.

> And is she really that smart,

No she's not really that smart, I'd estimate 1-2 stddevs from the mean. In my opinion that's smart enough for a potential spouse with other positive attributes, particularly if you think that you're smarter still.
finexplained
·4 jaar geleden·discuss
I mean, she's attractive, smart, pretty good genetics, clearly well connected. I don't find it that surprising.
finexplained
·4 jaar geleden·discuss
Elon Musk is a prominent member of the tech industry and of Silicon Valley history, dating back to the days of Zip2 and Paypal. It's just a fact.
finexplained
·4 jaar geleden·discuss
The distribution is different. The median programmer provides much more value than the median artist. Additionally math/cs skills apply much more broadly than art skills. The entertainment industry would be much less leveraged without the tools we built for them.
finexplained
·4 jaar geleden·discuss
Sure, but we actually provide business value and our toolset is applicable to a broad set of problems.
finexplained
·4 jaar geleden·discuss
You decide you want to optimize for number of lives saved. You decide that future lives, those of people yet to be born, are worth as much as those currently alive. You place small, but importantly not zero, probability on existential risks to humanity, so that when you do the expected value calculation, even an infinitesimally small risk of humanity's complete extinction results in negative infinite utility. You're also very smart and realize that smart people can do damage if their objectives are misaligned, and you start to worry about something much much smarter than you with objectives misaligned to humanity's more broadly. In their defense reward specification is indeed a hard problem, RL agents find unexpected policies that maximize reward in even toy settings. At this point you're down the rabbit hole and no other problem seems to compare. Climate change will leave some people alive, pandemics leave some people alive, AIs have no such kindness.
finexplained
·4 jaar geleden·discuss
Um, because I think words have meaning, and I think accusing people of actions that have legal implications when they are not in fact doing those things is bad.
finexplained
·4 jaar geleden·discuss
This allegation of frontrunning references another trading participant, not the miners. Also, arguably, and certainly not legally.
finexplained
·4 jaar geleden·discuss
I respectfully don't think it is too harsh. Every legal definition I know of frontrunning requires a client relationship. Even in the case of "non-public" information, frontrunning refers to trading ahead of your client based on non-public information related to the clients securities. Trading on non-public information when a client is not involved is referred to as insider trading.

Also in this context, the reason that these sandwich attacks can happen is because all the information is public. The adversary can see your transaction waiting to be validated, and pay the miner a higher gas fee to be executed first.
finexplained
·4 jaar geleden·discuss
Yep, that one is my bad. That's why I added the edit.
finexplained
·4 jaar geleden·discuss
Couple things.

(1) The word "frontrunning" applies only in a very specific context, where you trade in front of an entity with which you have a client relationship. That is different from capturing a trading opportunity because you are faster than another party. Frontrunning is illegal and law-abiding HFT firms don't do it. They often don't even have clients to which this applies! Being faster is not illegal. Can we please stop using this term to describe behavior we don't like.

(2) What do they mean they introduce the term MEV (miner extractable value)? Everyone calls it that, and it's part of the incentive that miners have to validate transactions.

(3) Might want to add (2019) to the title, this paper is pretty old. Perhaps this answers (2).