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Nat Friedman - Reading Ancient Scrolls, Open Source, & AI
Dwarkesh Podcast
Hedge Fund Secrets - The Last Mile Is the Hardest
I'm constantly surprised by how even in areas you expect to be very efficient, there are things that are sort of in plain sight. I was talking to some traders at a hedge fund recently and they told me 80% reduction in their profits if they posted 30 day old trading strategies on Twitch. So like that, I think is just quite strong evidence that the world's not perfectly efficient because these folks make billions of dollars using secrets that could be related in an hour or something like that. And yet others don't have them or their secrets wouldn't work. But- The last mile is often the hardest. Well, I mean, it's turned out to be fractal anyway. Like,
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