The latest installment of Tim Harford's BBC/Open University podcast (RSS) More of Less has a fantastic and chilling look at the world of high-frequency automated stock trading, where warring algorithms execute millions of trades in an eyeblink. The story's jumping-off point is Knight Capital, whose faulty algorithm hemorrhaged $10,000,000 per minute, ultimately costing the company nearly half a billion dollars. But from there, Harford and co do a great series of examples trying to convey the sheer velocity of these markets. I've been following this stuff reasonably closely and had an abstract sense of it all, but this brought it home for me so firmly that it raised goosebumps.
Last week Knight Capital lost a lot of money very quickly. It was the latest chapter in the story of something called ‘high frequency trading’. Investors have always valued being the first with the news. But high frequency trading is different: algorithms execute automatic trades, conducted by computers, at astonishing speeds. We ask: is the rapid growth of high frequency trading progress, or – as some think – a threat to the stability of the entire financial system?
BBC - Podcasts - More or Less: Behind the Stats
As I wrote about last month, the hotelier who operates the Toronto property bearing Trump’s name was desperate enough to get shut of it that they had bid millions for the right to change the name of the hotel.
Everyone’s favorite Internet monopoly Amazon looks like it’s about to eat Blue Apron’s lunch. Amazon just announced plans to boy high-end grocery chain Whole Foods last month in June, and has also recently filed for trademarks around prepped meal kit services– that’s Blue Apron’s sole business.
This old Mental Floss post collects salesmans’ miniatures from the 1930s, including mausoleums, swimming pools, Persian rugs, and more — but the gem is this gorgeous neon sample-case.
The current web development landscape is rife with buzzwords and technology that gets abandoned almost as soon as it’s made. If you’ve never written a line of code before, it can be hard to figure out what’s coming, what’s here to stay, or how to get ahead.This Beginner Web Development Bundle is a great place […]
The Fader Stealth Quadcopter from TRNDlabs packs incredible flight performance into a package small enough to land on your phone screen, and it’s available now in the Boing Boing Store.The Fader’s six-axis gyroscope module gives it perfect balance in the air. This makes the onboard 720p HD camera all the better for shooting amazing flight […]
Although fully autonomous vehicles aren’t yet allowed on public streets, they are poised to dominate the roads in the not-too-distant future. But before that happens, Apple, Google, Uber, and other companies now investing in self-driving tech are going to need talented developers that can account for the dizzying array of factors at play when a […]