Eliminating the advantage of speed

The NYT has this longish article on the story behind IEX, a ‘fair’ stack exchange explicitly designed to neutralize the advantages of high speed traders (at the core this involves the 38-mile coil of fiber optic cable in a box) depicted below. In this article an IEX employe lays out a theory of why there are so many Russians involved in high speed trading operations, which pretty much confirms my theory on the relation between high speed trading and soviet economics from 2012: Sokoloff was Russi…

The future of copyright will most likely not be determined by a cost benefit analysis

So i finally managed to start reading the ‘Future of Copyright‘ anthology that contains the winning essays from a contest organised by the Modern Poland Foundation. So far (i have not read them all) my favourite essay is ‘Give‘ by Togi, which i read as powerful argument that systemic change (and not just reform) is not only much needed but also possible. While his overall line of argument is pretty convincing (to me), i have a bit of trouble following one of his (her?) central arguments (Mike Li…