22SAS

I work at a trading firm. RIP to the GOAT, the god of quants.Reading about him and RenTec, back in high school, was one of the first things that got me attracted to the field.

Any good resources to learn about that?

Hope they fire SVB UK's head of risk assessment. They definitely don't want total wokesters like her running things.

What does my post have to do with Hindus having/not having a land of their own?

Not all of us Indians are Hindus and have some caste assigned to us.

Most immigration to the US was white based till 1965.

The issue is that Americans with half-baked knowledge think that all Indians have a caste assigned to them, or that India has a national level caste allocation policy. For Americans who hate India, this gives them more ammo to hate us.

Thanks for sharing that with me.

I'd like to respond to this OP (don't have a Twitter account):

https://twitter.com/mSanterre/status/1622015664042164224

I actually have done one of those things. I work in HFT building execution systems for options market making :)

https://news.ycombinator.com/item?id=34657303

My bad! Should've said "water is wet" or maybe run my response through ChatGPT, maybe that'd have caught it and offered a replacement!

My point exactly.

If I interpret OP's statement correctly, that chatGPT can build complex systems from scratch in 10 years. Then according to that statement, the only adaptation is to choose a new career because it has made almost all SWE jobs go the way of the dinosaurs.

So, a LLM, trained extensively on StackOverflow and other data (possibly the plethora of LC solutions out there), is fed a bunch of LC questions and spits out the correct solutions? In other news, water is blue.

It is one thing to train an AI on megatons of data, for questions which have solutions. The day ChatGPT can build a highly scalable system from scratch, or an ultra-low latency trading system that beats the competition, or find bugs in the Linux kernel and solve them; then I will worry.

Till then, these headlines are advertising for Open AI, for people who don't understand software or systems, or are trash engineers. The rest of us aren't going to care that much.

I work in the HFT space. Jane Street in not an HFT, they are not trading in a very latency sensitive asset class.

Both. If one is on a competitive exchange or a latency-sensitive asset class, need to be both smart and fast.

Also, strategies change all the time and are mostly the domain of quants and traders. What they did a year ago, could very well be history at the firm they worked at.

I'd say an idea that generates alpha is tougher. I have seen firms like XR have great technology, but sucky ideas. They were fast, not smart and hence they didn't make a killing like their competitors did, due to all the volatility in the last three years.

I work at an HFT. I am expecting most of the major firms, especially Citadel Securities, lobby hard against this.

While non-competes on our side are paid, they're a pain in the ass to navigate if one is a visa worker (my case). So, I am praying for this to pass. If it does, I am starting interviewing with competitors the very next day.

I work for a market maker. Have a maximum possible one year NC. Thinking of doing something similar in case my firm slams me with NC > 6 months, when I resign.

I write low latency C++ for a living. Read "A Tour of C++", focusing on the STL and the basics of the language, basics of templates. Anything else related to STL, look at cppreference.

Not all of them do it that way. The HFT I work with, pays the greater of base salary or 75% of base+bonus averaged over the last two years.

One of the best quant firms, TGS, is located in CA and enforces non-competes no problem. They had an employee sue, his NC got waived but he had to pay 7-figures to TGS.

This! Tech influencers on YouTube are using these bad examples, to scare people into believing that ChatGPT will take over programming jobs.

The day when AI technology can fix bugs in a multi-million line codebase, make improvements to it; that's the day when I will start worrying. That day is far, far away.

Interesting, thank you very much.

If the jet were also travelling at the speed of light we'd be dead right now

Does that mean, once the jet reaches us 850K years from now, we can say that will be a mass extinction event, or even the end of life on Earth? Compared to a billion years from now when the Sun's luminosity increases.

If it is 8.5 billion light years away and was traveling at the speed of light (100% instead of 99.99%) wouldn't it take 8.5 billion light years? Wonder how you got to the 850K years figure.

If they're going to stick in trading then that doesn't matter because non-competes are standard in the industry, so everyone will understand. Some take it as a way to get some paid downtime. A friend of mine, who joined my firm, went around Europe on his 4-month non-compete. Others do something like that, if it is too long then they just work in tech.

Some firms like Jane Street and Old Mission have no non-competes.

A lot of the stuff in trading firms is proprietary and pretty secretive like trading strategies, how their systems achieve some level of latency, if they have FPGA/HW teams then what are their capabilities like.

When an employee resigns to go to another trading firm, to ensure that they don't leave right away and use the secret sauce at their new firm, they put that employee on a non-compete or a garden leave. Basically, for a period of time, could be as little as 2-3 months to 2 years, that employee can either sit at home or go work in an industry that is not trading but for that duration they cannot work in the same industry. The logic is that strategies and systems change pretty frequently, so in that time whatever knowledge that employee has, becomes outdated.

If they decide to sit at home, to make it lucrative, most firms will pay their base salary for that period, or some percentage of total comp (base+bonus). Since the employee is getting paid to do nothing, almost nobody in trading has any issues with non-competes.

While this is pretty awesome, it is a pain in the butt for a visa holder making such a transition. Technically, to remain in status a visa worker has to also be performing the duties on their petition, so even if they get paid during non-compete it can lead for them to leave the US. Since this is not as simple to enforce and not rigorously checked, their previous employer does not revoke their petition till they start at their new firm. Since the workers petition is still active with USCIS, they're getting paid and have benefits still active, it just appears that the employee is still working.

While I'm sure no one will care to enforce it

Pretty right. In the HFT world, we have people going on non-competes all the time. During that time, most firms do not pull their visa petition from USCIS, pay continues every two weeks and the employee is still technically an employee of the firm, just that they're on garden leave. This is done by firms so that the employees do not have to leave the US during their non-compete.

They're not doing any work, so technically still counts as a visa status violation.

Currently on Emacs 28, on my personal machines. I see that there is a Emacs 29 pretest version available, for Windows. Are all Linux users building Emacs 29 from source?

That is incredibly funny.

I work in HFT, and have seen lots of people from India, China, who are traders and quants, do just that. If they're good, they get big bonuses, save them for a few years and apply for an EB-5. With devs it's a longer path to get there, but I will probably be trying that in a few years if I can, till then I can move to Canada on my Canadian residency permit.

What about people who are already here for decades ?

They need to understand that immigration is a privilege and not a right. If it were a right, then could have successfully sued the US government in a court of law and gotten their green cards ages ago. They forget that and start crying when faced with long wait times. The US didn't invite them , they made the decision to come here.