alt Hacker News>>The social justice / millenial part of me hates this for being funded by high frequency trading, of all things. What a colossal waste of resources.
HFT makes the market more efficient, just like the AI eliminating jobs makes business more efficient. It's been numbing watching HN gladly sacrifice it's own to the altar of AI over and over. There is no moral high ground.
Personally as a retail quant, it's really rewarding to build models that extract edge from the market using the very AI tools that have eliminated all hope of ever re-entering the tech-field absent being an entrepreneurial founder.
i remember trading a us stock twenty years ago, i don't live in the us, i used a discount broker, the flat commission was something like $20+percentage of trade. this was significantly after there had apparently a massive drop in costs.
there is some kind of amnesia that exists with things that used to cost massive amounts but are now close to free. it is just not possible to explain to someone that in the recent past, most people were just unable to own stocks because of costs.