Ben Gilbert: belief

Transcript context

…Which is not to say I would necessarily want to work there. I think I would not, but it is truly unique. The one thing I can’t stop thinking about is the idea of the complex adaptive system that I was talking about earlier. I think from what everything we can tell from the outside, Renaissance actually has built a large scale computer system that discovers relationships between different entities in the world—stocks, commodities, bond prices—and whether it can explain them or not, it is correct most of the time. It might be a small most, but all you need is most, then you can operate a casino business. That is my takeaway is that they are the house and they have an edge, and that edge is predicated on a graph of all the relationships between these entities that we think are just noise, and they know the signal. It does make you wonder to what you were talking about with the tech industry “catching up” in recent years. How hard is it to build this now given the technology open source and otherwise that’s available for sale out there.…

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