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LiamMcCalloway

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I suppose it's time to share my dream excel functionality: Turbo F2.

F2 should enable the user to trace calculations back to the original data, not only the current calculation step.

In basis spreadsheet, this would yield a jumble of steps that are undocumented and hard to parse. But that's where the python, lambdas and custome functions come in: They enable legibility of turboF2.

I'm a glass half full kinda of kind, but for excel, the glass is Feb 1st. Please, types would really help. Maybe as a property of named ranges ?

Zrepl on Rsync.net 4 years ago

I just set up zrepl yesterday and this was going to be my next task. Super glad to find this here. I already have a borg-enabled account with you: Is it possible for a single account to do both borg and zfs send?

I don't know enough - merely rephrasing a blog post here - but it sounds fair to say that this reduces the primary benefit of network effects of market activity, higher liquidity/lower spread, at the expense of the rest of the market.

Could we construct a reasonable scenario where the liquidity from segregated order flow would have displaced the core business of liquidity providers, because the volume is so large?

Let me see if I can rephrase.

Robinhood solves a collective action problem for its users. Unbeknownst to some people, they are unsophisticated and cheap to provide liquidity to: market makers can trade with them and reliably offload their positions, reducing the risk premium necessary to make market making profitable. Robinhood advertises in a fashion that enables self-selection of unsophisticated buyers. Once the platform is sufficiently large, they can auction off the liquidity business. By regulation, the users can never be worse off than they would have otherwise been, because liquidity providers must run their bid-ask spread within the larger market's spread.

So Robinhood earns the difference in risk premium between the larger market and that of its user base, minus operating costs and profits of the liquidity provider.

I suppose the question is: what is the mechanism by which that profit margin can be transferred to users?

Countries can unilaterally have taxes based on the share of total company profit generated in the country, rather than just profit in the country.