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What the interns have wrought, 2020 edition

blog.janestreet.com

201–210 of 219 posts

Re: What the interns have wrought, 2020 edition

#201

What are the advantages of Re over Re2?

There might be others, but the big advantage in my eyes is that Re, because it is pure-OCaml, is platform independent, whereas Re2, being backed by the C++ lib of the same name, is not. At Jane Street this is relevant because we share a lot of code between Linux servers and JavaScript (running in Chrome) clients.

Re: What the interns have wrought, 2020 edition

#202

Earlier quoted context omitted.

I've been working with F# for about 5 years now, love it. The .net ecosystem has a huge amount of libraries available, performance is excellent, and F# is a joy to develop it.

Thanks. Can I ask you what line of business your company is? Is it financial by any chance? Thanks

Healthcare

Re: What the interns have wrought, 2020 edition

#203
post #25

Earlier quoted context omitted.

Yep, and they use OCaml! I always feel like I have to point it out since people do not think much of it, have lots of misconceptions of it, and so on.

It need to be pointed out because there may be like grand total of dozen companies which uses OCaml so it is something remarkable. It is like paintings from famous painters in billionaire's homes. Now for me and may be for lot of people stuff from Bed Bath and Beyond is just fine on our walls. So for ultra-rich / successful/profitable company might see beauty in Ocaml but most of the world runs fine on run of the mil…

Most of the world doesn't run fine. The manager who was previously an accountant can't see the benefits of reliability, security or performance, and hires some straight-out-of-the-bootcamp people.

Re: What the interns have wrought, 2020 edition

#204
post #146

I know a guy who works at Jane Street; he was formerly one of the brightest undergrads at Caltech. He turned down an offer to do a PhD at Berkeley to take the Jane Street offer, IIRC. He is pretty idealistic and has an interesting philosophy about working in finance: he thinks moving money around isn't that societally valuable, but he donates 10-15% of his income to charity each year (I think he picks charities using…

> moving money around isn't that societally valuable I would say hedge funds have massive negative social value (especially quant/HFT ones), and actively contribute to wealth inequity. Robert Mercer is a prime example of this. Not saying I think your friend is a bad person or should quit, but it's kind of a naive justification.

I don't disagree. But working at apple is not much better.

Re: What the interns have wrought, 2020 edition

#205
post #97

Wow. These interns at that comapany are working of stuff that's way more interesting and complex than the crap I deal with at my financial company. From what others are saying, it looks like they pay way better too.

I don't think that's so unusual. I've often seen interns get the kind of cool, scoped and unordinary task where half of the team was like "damn, I wish I could've done that" - but the reason is usually very boring.

  - it's not guaranteed to succeed at all
  - it's not important enough to put someone on it for a few weeks or even 3 months
  - it's not touching production code
  - it's a greenfield project where you can let them start and not have them understand your huge code base
Yes, this may not be true for the ones listed there, but for example the Wireshark analyzer is probably used for debugging, so it would be "better than nothing" even in a half-baked state and then can be improved gradually. The scheduling thing can at least be tested beforehand, and rolled back. Scoped and usually low-risk, doesn't mean not interesting or not hard.

Re: What the interns have wrought, 2020 edition

#206
post #46

Earlier quoted context omitted.

How does a normal software developer go about getting in? Do they give the traditional google interview or worse?

I hate to break it to you, but if you're a normal developer like me (you're probably better), then you aren't getting in. There was a recent post on HN about how to be ok with not being a 10x dev or something like that. There's some good stuff in there.

Can you link to that discussion?

Re: What the interns have wrought, 2020 edition

#207

Earlier quoted context omitted.

Yes. So seller A wants to sell for $1.00 and buyer B is willing to buy at $1.06, an algorithm will calculate the presence of this potential (or actually have knowledge from other systems that this a certainty) and purchase seller A's stock with a margin of overhead of $1.03 and sell to buyer B for $1.06 netting $0.03. The algorithm is essentially a parasitic entity.

This isn't really what market makers like JS do. While they do make profit from the spread between prices they buy and sell at, the key difference is that they will buy from seller A and sell to buyer B at different times. For the duration between the two trades, they either own a positive or negative amount of whatever the good is, so they are at risk of losing money if the price changes. The spread pays them for ta…

JS and their ilk replace the market-makers, you're saying.

Re: What the interns have wrought, 2020 edition

#208
post #38

Earlier quoted context omitted.

The OCaml website lists some companies it [0], I think there are a bunch of new blockchain startups that are also using OCaml but are not on that page. [0] https://ocaml.org/learn/companies.html

Is there something about purely functional languages that make them attractive to blockchain applications? I remember a post on here a little while ago complaining about Haskell adoption in industry was being mostly led by cryptocurrencies.

You have high-stake operations in relatively small code base, so you better pick a language and tools compatible with formal verification or even supporting it natively.

Re: What the interns have wrought, 2020 edition

#209

Earlier quoted context omitted.

I hate to break it to you, but if you're a normal developer like me (you're probably better), then you aren't getting in. There was a recent post on HN about how to be ok with not being a 10x dev or something like that. There's some good stuff in there.

Can you link to that discussion?

https://news.ycombinator.com/item?id=24261826

Re: What the interns have wrought, 2020 edition

#210

Earlier quoted context omitted.

Technically HFT is a subset of algorithmic trading. Algorithmic trading can be done on both the buy (IE hedge fund) and sell (Investment bank) side, but does not need to be high frequency. High Frequency also means low latency- sub millisecond, and I have never seen an algo trading system of any sort that deals in latencies that are not in the millisecond range, though this isn't really a requirement. Does this help?

Yes. So seller A wants to sell for $1.00 and buyer B is willing to buy at $1.06, an algorithm will calculate the presence of this potential (or actually have knowledge from other systems that this a certainty) and purchase seller A's stock with a margin of overhead of $1.03 and sell to buyer B for $1.06 netting $0.03. The algorithm is essentially a parasitic entity.

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