Earlier quoted context omitted.
People use nodejs in finance backends too. Its async operators make it easy to munge different data streams together and fan in/out results.
oh this is something to say louder for the people in the back: there is no reason that finance and computational finance gravitated around python there is nothing inherent about that language aside from people not having made some libraries in other languages javascript especially nodejs is fine for most people's finance cases
My tiny side project has had more impact than my decade in the software industry
131–140 of 195 posts
Re: My tiny side project has had more impact than my decade in the software industry
#132I work in finance. About 5 years ago I started building a FIX library on my spare time, out of curiosity. Over the years it has been countless fin tech start-ups as well as big companies reaching out to me about the library, suggesting fixes and features. Since then I have long lost the interest in the technology which enables connectivity to financial exchanges to automate trades, but I keep working on the library f…
Re: My tiny side project has had more impact than my decade in the software industry
#133The labor theory of value explanation for this is straightforward. In general, LTV asserts that the value output of some work approximates the amount of work that ordinarily has to go into it, or more precisely, of the socially necessary labor time going into that work (ie, the time it would take an average worker to do it without slacking off). This is because if you wanted that work done and didn't care how it got done, the socially necessary labor time would be the real cost of doing it yourself or paying someone else to support themselves while they do it (before various market dynamics and other distorting factors - it is an idealized model). I.e., in an assembly line, the cost of a part is the cost of raw materials + the cost of the labor added to them. This seems straightforward for assembly line work, but is a little less intuitive when the actual work is about making other people's work more efficient, which a lot of software dev falls into. But if someone simply said to themselves "I need the functionality of mammoth.js", the core idea still applies - of being able to replace the worker, hire a generic software dev, and get comparable work (or at least, good enough work), for a similarly low amount of value. Another way to think of it is that mammoth.js might save a lot of people a lot of time, but getting some version of mammoth.js implemented is probably historically inevitable and has a fixed and much smaller cost to actually do.
How does this resolve the contradiction in the article? Well, mwilliamson's day job career labor output might possibly have saved less time of other people's work than mammoth.js. But their day job career labor output probably couldn't have been replaced in any way but by a similarly large amount of time and effort from other developer(s). Meanwhile, mammoth.js could be reimplemented in a similarly small amount of time by someone else, maybe taking a couple of tries to get it right. If mammoth.js hadn't been written at the time it was, maybe that would have happened.
This isn't to discount ingenuity or insight going into this side project, or the usefulness of something like mammoth.js being in the right place and time. But I think it is a more precise way to think about how much value and what kinds are being added to the world by larger or smaller amounts of effort. In other words, devs shouldn't feel bad about having worked hard on stuff that is less neatly labor-saving than a small widget, as long as that hard work turned out to be useful.
Re: My tiny side project has had more impact than my decade in the software industry
#134Earlier quoted context omitted.
I've been a user of your project and it's fantastic. I think you're being too hard on yourself. The proliferation of marketplaces and assets to trade (and all type of projects, automated trading, market making, etc... that your project enabled) can been seen as a net positive, as a win win for all parties involved and more. From a microeconomic perspective, your library enabled access to startup using js and with rel…
> Don't be fooled by the contemporary contempt against finance. It's still the most important reason that explain the constant improvmements in prosperity and peace of recent years I think the contempt comes from the fact that financial instruments have a tendency to concentrate those benefits in small proportion of the population. Low-cost mortgages are an excellent example: these have enabled wealth gain for those…
Be thankful that it allows this to happen somewhat transparently and peacefully, rather than at the hands of pinkertons, criminals, or the military - which is how historically it has happened.
Re: My tiny side project has had more impact than my decade in the software industry
#135Earlier quoted context omitted.
I've been a user of your project and it's fantastic. I think you're being too hard on yourself. The proliferation of marketplaces and assets to trade (and all type of projects, automated trading, market making, etc... that your project enabled) can been seen as a net positive, as a win win for all parties involved and more. From a microeconomic perspective, your library enabled access to startup using js and with rel…
> (central banks interventions are useless without bank and other financial intermediaries participation, it would be like pushing on a string). Yes, the only thing financial intermediaries would be missing is the actual funds (largely paid by the middle class) to bail out corporations for the second time in less than twenty years. > Don't be fooled by the contemporary contempt against finance. There has been contemp…
And throwing in the whole ‘greed is good’ stereotype doesn’t help.
Re: My tiny side project has had more impact than my decade in the software industry
#136This boosted their productivity at least by 60%. I was more proud and satisfied with that simple piece of code than my entire professional work that year.
Re: My tiny side project has had more impact than my decade in the software industry
#137Earlier quoted context omitted.
> Don't be fooled by the contemporary contempt against finance. It's still the most important reason that explain the constant improvmements in prosperity and peace of recent years I think the contempt comes from the fact that financial instruments have a tendency to concentrate those benefits in small proportion of the population. Low-cost mortgages are an excellent example: these have enabled wealth gain for those…
It isn’t financial instruments doing that - it’s people. Be thankful that it allows this to happen somewhat transparently and peacefully, rather than at the hands of pinkertons, criminals, or the military - which is how historically it has happened.
Re: My tiny side project has had more impact than my decade in the software industry
#138Earlier quoted context omitted.
jmp f000:e05b Between fiddling with debug.exe and discovering that fixed address, that put me on the path to demystifying technology (or at least understanding everything is approachable).
I feel like everyone has an ah-ha moment when software's facade of magic gives way to a genuine feeling that nothing in software is inunderstandable. I was helping my brother through some CS classes, and he had to use some sort of graphics library, and things just weren't clicking. I opened the source of the graphics library so he could see what was going on under the hood and he was like "whoa... It's all just... Re…
"wait. it's .. just ... text!"
Re: My tiny side project has had more impact than my decade in the software industry
#139Earlier quoted context omitted.
> Don't be fooled by the contemporary contempt against finance. It's still the most important reason that explain the constant improvmements in prosperity and peace of recent years I think the contempt comes from the fact that financial instruments have a tendency to concentrate those benefits in small proportion of the population. Low-cost mortgages are an excellent example: these have enabled wealth gain for those…
It isn’t financial instruments doing that - it’s people. Be thankful that it allows this to happen somewhat transparently and peacefully, rather than at the hands of pinkertons, criminals, or the military - which is how historically it has happened.
That's quite a silly argument since you can very literally replace X by anything and get a true statement.
Re: My tiny side project has had more impact than my decade in the software industry
#140I work in finance. About 5 years ago I started building a FIX library on my spare time, out of curiosity. Over the years it has been countless fin tech start-ups as well as big companies reaching out to me about the library, suggesting fixes and features. Since then I have long lost the interest in the technology which enables connectivity to financial exchanges to automate trades, but I keep working on the library f…
I've been a user of your project and it's fantastic. I think you're being too hard on yourself. The proliferation of marketplaces and assets to trade (and all type of projects, automated trading, market making, etc... that your project enabled) can been seen as a net positive, as a win win for all parties involved and more. From a microeconomic perspective, your library enabled access to startup using js and with rel…
All you're saying would be correct if we had a sane system of property rights, (which we don't); then finance would be truly benefiting everyone. But that's not the world we live in.