Cathy "Mathbabe" O'Neil is a former finance-industry quantitative analyst who escaped her former career and has advice for other quants looking to do something better with their lives. She works in a startup now, and offers a fascinating study of the contrasts between finance culture and startup culture:
First, I want to say it’s frustrating how risk-averse the culture in finance is. I know, it’s strange to hear that, but compared to working in a start-up, I found the culture and people in finance to be way more risk-averse in the sense of personal risk, not in the sense of “putting other people’s money at risk”.
People in start-ups are optimistic about the future, ready for the big pay-out that may never come, whereas the people in finance are ready for the world to melt down and are trying to collect enough food before it happens. I don’t know which is more accurate but it’s definitely more fun to be around optimists. Young people get old quickly in finance.
Second the money is just crazy. People seriously get caught up in a world where they can’t see themselves accepting less than $400K per year. I don’t think they could wean themselves off the finance teat unless the milk dried up.
Telling people to leave finance
(via O'Reilly Radar)
(Image: Antarctica: McMurdo Station Finance - 50c, a Creative Commons Attribution Share-Alike (2.0) image from elisfanclub's photostream)
Yuhuang Shannan — an hour’s high-speed train journey from Shanghai — is a newly formed, walled village in which only hedge fund employees and their visitors are allowed to venture, a kind of Canary Wharf with Chinese characteristics, with schools staffed by non-Chinese teachers, a private club, and its own health care facilities.
Black American wage disparity can be offset by education; but even though black American families — one parent, two parent, educated, uneducated, employed, unemployed — save more and spend less than their white counterparts, white families have substantially more wealth than black families — college-educated white adults have 7.2 times the wealth of their black […]
South Dakota voters approved a ballot measure that would limit the amount of money state politicians could receive from lobbyists and other donors, capping “gifts” at $100 annually; now, Republicans in the SD government are seeking to block it, with an emergency resolution, a court challenge and an appeal to the governor.
Python is immensely popular in the data science world for the same reason it is in most other areas of computing—it has highly readable syntax and is suitable for anything from short scripts to massive web services. One of its most exciting, newest applications, however, is in machine learning. You can dive into this booming […]
Learning new skills is a great way to improve your resume and stand out from other candidates. Especially in a workforce in which many job-seekers have a wide variety of qualifications. With lifetime access to Virtual Training Company, you won’t have to choose a specific focus. You can pick up new expertise whenever you deem it […]
Instead of throwing out all the empties after your next party, why not transform them into some new DIY glassware? Cut back on waste and add some home ambiance with the Kinkajou Bottle Cutter and Candle Making Kit.The Kinkajou is designed as a clamp-on scoring blade to make precise cuts. Just slide a bottle in, tighten […]