833 karma · joined August 29, 2022
Why did Terraform end up being the dominant product? Product-market fit. That’s not just engineering, but bringing to market a product at the time when people need and understand it. This includes marketing and educating. Also, Terraform has an ecosystem of prebuilt providers. NPM as a package manager is not as well designed as other systems, but it’s arguably been the most successful. While the internal prop tech you mentioned may be more advanced, it’s not obvious you had the right product people with vision to build out that ecosystem. Most managers and product people at large companies aren’t tech savvy beyond buzzwords
Because the people with vision and conviction would be running their own startups
Ultimately, startups are about making money.
No serious financial professional would expect their strategy or any strategy in existence to be 100% correct. A strategy that is correct 51% of the time is more than good enough. You diversify and hedge, and build up an uncorrelated portfolio. Suppose you've honed in on alpha strategy. You probably don't even want to optimize and fit in further, with past data. Instead, you find a beta strategy that is uncorrelated and run those two together. With the amount of capital firms the likes of Citadel are working with, it's impossible to trade in a single product, and so scaling up, in the case of an MM, is to trade everything all at once.
This is also repeated in the article. "[CitSec CEO] diversifies the firm’s earnings so it can better stomach an occasional loss in any part of its business"
> current strategies are not information problems that need new science, they are work problems that piece together solved ones, and whose efficiencies come from competency in related domains
Applied math is not about pushing mathematical theory, necessarily. Then there is a difference between theory and practice, and there is a difference between practice and sizing trades with this scale of AUM. Academics can talk and write papers about LLMs or CRDTs, but they aren't going to be the ones who will be affective at bringing it to market.
ChatGPT is being more logical to be honest.
It’s true, some species of bats give live birth.
To assume all bats give live birth might be committing the fallacy of induction.
Sounds a lot like the packages released on NPM.
This is exactly what is downtrending. Nations fear being sanctioned and holding on to dollars they can't use
> and most stable(military/economic might/feed back effect from being global currency)
This is also what is being questioned. There is domestic turmoil and the US economy is funky.
I'm just paraphrasing Ray Dalio's recent discussions and extensions on his dialogue on the rise and fall of nations.
Tech is a small part of the economy, but cities like Seattle that have built restaurants and services catering to the tech crowd will see further fallout. There was this idea that Seattle would be this next big metropolitan area, but tech implants have found it’s not for them after a few years
But do we really want a registry for CSS?
Would have gotten the point across better to just inline the CSS source on the landing page, or linking to the CSS file, instead of having to download a ZIP.
They didn't offer too much guidance for trading crypto either. I reported my trades as you would for stocks. They ended up auditing me and charging me for $300k in profits when I made $3k (they did not recognize cost basis of my trades, yet decided to respect the sale proceeds) circa 2015. Meanwhile, people who did not report at all probably got off the hook.
Sure, but then maybe don’t start a war with all of Asia. There was a high degree of grandiosity and hubris where they thought the way out of a losing strategy and resources was to double down and go after more