How to Bring Open Source to Wall Street

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When he was leaving Oshana Sea Asset Management after selling at Franklin Templeton, my passion project was a thing I called Grey Swan. And much like you've done, I set up the system almost exactly. But then a good friend of mine who is a genius in AI, I tested the thesis on going through it. We need a completely different category of person and cognitive ability to make sense of it.

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!