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The New Gold Rush? Wall Street Wants Your Data

mattturck.com

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Re: The New Gold Rush? Wall Street Wants Your Data

#31

Post by paulsutter »

Suggestions:

- Make it easy for them to get the backfile, and charge them a lot for fresh data (somehow startups are inclined to do this backwards. They need a few years of data before they even know it's useful, but they can't trade without recent data. Charge them accordingly)

- It's too hard to negotiate exclusives, but you can make them bid on exclusive access to delays. One second, minute, hour, week, etc. it doesn't need to be complicated but neither should you leave money on the table with too simple pricing

Re: The New Gold Rush? Wall Street Wants Your Data

#32

Post by arbitraryquant »

paulsutter wrote: post #31

Suggestions: - Make it easy for them to get the backfile, and charge them a lot for fresh data (somehow startups are inclined to do this backwards. They need a few years of data before they even know it's useful, but they can't trade without recent data. Charge them accordingly) - It's too hard to negotiate exclusives, but you can make them bid on exclusive access to delays. One second, minute, hour, week, etc. it do…

Yes, if you want me to buy your data, give me all history up to last year. Then I'll decide.

Re: The New Gold Rush? Wall Street Wants Your Data

#33

Post by maxerickson »

bogomipz wrote: post #19
choward wrote: post #8

Earlier quoted context omitted.

People dressed up in suits lose accountability to me. It's like they are over-compensating for something.

Does that include lawyers and financial advisors too? Would you be OK with someone in jeans and a hoodie representing you in court? Would you be OK handing your life savings over to a money manager who was wearing a t-shirt and flip flops?

Topical PSA from the financial advice industry:

https://www.youtube.com/watch?v=yJFrkNY4n1g

If you have something of value and the people you are talking to are actually interested in making money, they will get past quite a lot.

(The lawyer question is more ridiculous, they have to work with the prejudices of the judges and lawyers they interact with so only in the narrowest of circumstances would a credible attorney walk into court in jeans)

Re: The New Gold Rush? Wall Street Wants Your Data

#34

Post by SomeStupidPoint »

existencebox wrote: post #21
dig1 wrote: post #17

Earlier quoted context omitted.

> Run a goddamn business,.... If you cared about image, you wouldn't talk about what people wear. Let's change perspective - what do you think, how much success will have business with web pages that looks like from 90-ties or products that looks like they are made in basement in spare time? (sure, there are exceptions, but well, they are exceptions :P). Everything is about image; if I'm going to invest in you, you b…

I'll challenge this statement. I stopped shaving, ironing, and wearing more than many duplicates of one outfit explicitly so I could get serious about my work. Time is my most valuable commodity, and I intend to use every moment I have attacking problems I care about. I like to think that I don't look like a slob, but by the qualities you cited, you would disqualify me off the bat, and given the rocks I've moved in m…

Look at it from their perspective:

"I don't know you, and you clearly don't take care of details in at least one thing you do, so why would I trust you take care of other details?"

That impression can be overcome, of course, through demonstrating skill in a particular field. But I think a lot of technical people miss the connection or somehow find the (implicit) question unfair.

Re: The New Gold Rush? Wall Street Wants Your Data

#39

Post by laingc »

AznHisoka wrote: post #23
chollida1 wrote: post #2

Great article!! And i think it can probably be summed up with the sentence, unless your product has: - a long history of data - data that has low correlation to other available data sets - a very small group of people who have access to this data( ie exclusive deals with a few funds) Then its unlikely that you will be able to sell your data for any meaningful amount of money. A few things the author wrote that I thin…

Also just plain dumb luck. stocks dont trade based on logic like revenue growth so if Trump tweets something negative about Starbucks and the stock goes down, but your data suggested Starbucks sales went up 300% last month, you are in tough luck. this is also probably why your data is worth much much less than you think. there are very few things that correlate very strongly to stock performance. predicting human emo…

If your data suggest that the stock is trading at a discount due to irrationality, then you have a perfect opportunity to buy lots of an underpriced stock.

Re: The New Gold Rush? Wall Street Wants Your Data

#40

Post by Rainymood »

arbitraryquant wrote: post #25

Throwaway for obvious reasons. I'm a quant at a quant hedge fund. I can confirm I want your data. The longer the history, the more I want it. Don't fuck with it much, give me clean but raw info. I don't want PII, but I'll take aggregate and anonymized. Just whatever you do, start collecting it NOW so in 3 years you have 3 years of history to sell me.

Do you guys prefer a Master's or a PhD for research roles?
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