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thegjp210

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These are good points. I think a compelling argument can be made towards the admixture of the best and brightest with the daughters and sons of the rich and famous. Net net, I think that the opportunities provided to the best and brightest from exposure to, and friendship with the offspring of the spectacularly rich is why schools and network spun out of Harvard have generated such an effective flywheel effect over the generations. Granting access and pedigree to society's elite by a school isn't purely a vocational exercise - and the social element is why the Ivies and Oxbridge have thrived so spectacularly.

The company that by far does this the best is Stripe. They even have an in house press (Stripe Press) to publish out of print / small runs of books the Collision bros particularly like.

I would recommend anyone interested in Haiti's revolutionary history to read CLR James' 'The Black Jacobins'.

Theirs is the only successful and durable slave revolt in history and an incredible story.

how much counterparty risk does the rapid price fluctuation result in? Can't imagine pricing a contract in bitcoin, as someone's getting screwed at payment if the BTC/fiat rate has changed during the lifetime of the contract

there are loads of these folks in VC. Anyone who went to an ivy/stanford/MIT, worked in banking for 2 years, and now is at a VC by definition isn't a contrarian. Contrarianism bears out in life decisions - not a faux intellectual attitude

HFT firms aren't trying to predict "the market" as a whole - just small eddies of it. A typical example of this is arbing names at the bottom of index fund rebalances. Speed is important mostly to make sure someone else doesn't hit the arb first.

I don't think that 'should' is the best lens through which to view this. The better question is, would offsite talent (at or above the quality of onsite talent) be willing to do the job for less. I would hazard a yes to that because of the drastic difference in savings rate in low CoL areas. E.g. would be willing to make 30% less to live in a CoL area where your CoL is 40% less? If the delta in CoL exceeds the delta in pay change, I bet this takes off.