How to Deal With Data Scientists

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Simpadako: It's quite hard to read whether the US wants this type of company. The ability to empower very, very smart people should not have to have that 10 billion or 10 million where they can actually apply their intelligence immediately. They agree to our terms of service on the websites and those are by specific in certain areas but also very free. I think it says explicitly, if you submit predictions to us, they become our predictions but the model you use to train, that's yours.

Richard Craib is the Founder & CEO of Numerai, a new kind of hedge fund where data scientists around the world collaborate to predict equity returns using artificial intelligence. Richard joins the show to discuss Numerai’s origins, how it embraces the spirit of open source, why it has its own cryptocurrency and MUCH more! Important Links:

Show Notes:

The genesis of Numerai
How and why Numerai gives away its dataset
Getting users to put skin in the game
How Numerai scores users; becoming comfortable with the process
Size limits & leverage
Reactions to Numerai
Numerai’s cryptocurrency
How Numerai differs from Quantopian
Data, optimization & LLMs
“Monopolize intelligence, monopolize data, monopolize money, and decentralize the monopoly”
What could go wrong?
Numerai’s relationship with its data scientists
Could Numerai’s model work in any other industries?
What could go wrong?
“Life is long”
MORE!