Technology

Rigged... for your own good!

Source: Townhall.com

Via The Daily Bell

New technology can be scary. It certainly presents risks and challenges. But I have to admit, one technology I am very excited about is autonomous vehicles or self-driving cars.

We’ve talked about the potential for the Internet of Thing to leave us with nowhere to hide, and self-driving cars are part of that. We have also mused about the possibility of the government ruining self-driving cars.

But let’s take a moment to balance those positions with the benefits of autonomous vehicles.

With high-margin FICC revenues stuck in a secular decline across the financial industry, banks are forced to extract as much profit as possible from existing product lines. Which explains why JPMorgan will soon be using a "first-of-its-kind robot" to do away with carbon-based traders altogether and execute trades across its global equities algorithms business using a "robot", after a recent trial of JPM's new artificial intelligence (AI) program showed it was "much more efficient than traditional methods of buying and selling", the FT reports.

Submitted by Wolf Richter of WolfStreet

Tired of feeding an opaque, slimy industry of bots and fake clicks

Authored by Paul Craig Roberts,

PCR Takes a Look at Today’s “Top Stories” on Bloomberg

“Jeff Bezos briefly overtook Bill Gates as the world’s richest person. A surge in Amazon shares Thursday morning in advance of its earnings report gave Bezos a net worth of $92.3 billion, surpassing the Microsoft founder’s $90.8 billion fortune.

 

 

In afternoon trading, Bezos remains ranked second on the Bloomberg Billionaires Index. Gates has held the top spot since May 2013.”