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TED ( Technology,
Entertainment and Design) is a global set
of conferences owned by the private non-profit Sapling
Foundation, formed to disseminate "ideas worth spreading."
I've
watched several TEDs without know who TED is, so I looked it up.
Okay. That's good. But any group saying they want to
disseminate
"ideas worth spreading" — ahem.
Past presenters
include Bill Clinton, Al Gore, Gordon Brown, and Richard
Dawkins. We know
too well what these people
think is worthwhile, so caveat emptor. Still, it's always a
good
thing to know what the arguments are, and last night I watched Kevin
Slavin: How algorithms shape our world .
A spell binding performance in my view; your's may differ. The "Algo
Trading" section made me quite sit up. Specifically, the 9/18/08
market crash (that "buckled the
economy 'til
the Banks
pancaked into the rising dust ... " ).
Slavin suggests that two competing algorithms colliding sent
the system out of control. There is in my mind every reason to
fear
this sort of thing, even expect it. But I can't help noticing
how
timely this events was for one Mr. Barack Obama. There was no
better
moment in
time for his then floundering campaign. This opportunity
for
the DNC (that they seized immediately!) to make him the face
of the Democrat Party's solution for a financial disaster. A
disaster
they blamed, with media spin, on the stupid, reckless George Bush
policies. I
propose
that if programmers can create those trading algorithms, they can also
create timely collisions. Watch the 18 minute presentation.
It's beautifully presented by Slavin, with a twinkle in his eye.
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