Easily digestible tech news... http://www.techdirt.com/ en-us http://www.techdirt.com/images/td-88x31.gifhttp://www.techdirt.com/ Tue, 5 May 2009 18:48:00 PDT Mike Masnick http://www.techdirt.com/articles/20090505/0259314752.shtml http://www.techdirt.com/articles/20090505/0259314752.shtml hasn't worked that way. Laid off Wall St. quants seem to want to stay on Wall Street, and don't seem particularly interested in joining startups at a greatly reduced salary and a small chance for eventual stock option wealth. This actually might be for the best. It helps to really believe in what a startup is doing before committing to it -- and a lot (certainly not all) of the Wall St. folks are simply focused on making lots of money as quickly as possible. That doesn't always mix well in a tech startup.

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]]> pay-cut http://www.techdirt.com/comment_rss.php?sid=20090505/0259314752 Fri, 19 Sep 2008 07:55:00 PDT Mike Masnick http://www.techdirt.com/articles/20080918/1826002310.shtml http://www.techdirt.com/articles/20080918/1826002310.shtml people on Wall St. were lying to the algorithms, coming up with ways to purposely enter data such that the risk seemed much less than it actually was -- in order to let them keep pushing the boundary. Then, it became a situation where people start relying on the computers just because the computer says so -- even though the data is bad. This happens time and time again. Even when people know that computers make mistakes, it's just so convenient to have a computer "confirm" your thinking that you start ignoring other warning signs.

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]]> so-much-for-the-quants http://www.techdirt.com/comment_rss.php?sid=20080918/1826002310