Lex Fridman Podcast

#159 – Richard Craib: WallStreetBets, Numerai, and the Future of Stock Trading

Feb 7, 2021

Richard Craib, founder of Numerai, a pioneering crowdsourced AI hedge fund, shares his insights into the WallStreetBets phenomenon and the GameStop saga. He discusses the ethical dilemmas of short selling, contrasting 'evil shorting' with 'chill shorting.' Craib explores innovative investment strategies, the importance of community-driven data in finance, and the future of stock trading through AI. He also reflects on the evolving significance of wealth in cryptocurrency and the personal journeys that shape entrepreneurial ambition.

01:55:40

Creator website

Episode guests

Richard Craib

AI Chapters

Episode notes

Intro

2min

Sponsorship Highlights: Audiobooks and AI Solutions

2min

Advancements in AI for Business Optimization and Vision Tracking

3min

The WallStreetBets Phenomenon

15min

Shorting Unveiled: The Good, the Bad, and the Hedge Funds

8min

Navigating Leadership Dynamics

7min

Revolutionizing Hedge Funds: The Power of Open Data in Trading

2min

Innovative Investment Strategies in Stock Trading

20min

Trading Transformations: Numerai vs WallStreetBets

18min

10.

Redefining Wealth and Innovation

19min

11.

Navigating Finance and Innovation

14min

12.

Exploring the Meaning of Life Amidst Daily Distractions

2min

13.

Reflections on Mortality and Ambition Amidst Isolation

3min

Richard Craib is the founder of Numerai, a crowd-sourced, AI-run stock trading system. Please support this podcast by checking out our sponsors:
– Audible: https://audible.com/lex to get $9.95 a month for 6 months
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– Athletic Greens: https://athleticgreens.com/lex and use code LEX to get 1 month of fish oil

EPISODE LINKS:
Richard’s Twitter: https://twitter.com/richardcraib
Numerai’s Twitter: https://twitter.com/numerai
Numerai’s Website: https://numer.ai

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OUTLINE:
Here’s the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time.
(00:00) – Introduction
(08:12) – WallStreetBets and GameStop saga
(22:25) – Evil shorting and chill shorting
(24:31) – Hedge funds
(30:04) – Vlad
(37:00) – Numerai
(1:04:16) – Futre of AI in stock trading
(1:09:55) – Numerai data
(1:13:37) – Is stock trading gambling or investing?
(1:17:32) – What is money?
(1:20:49) – Cryptocurrency
(1:24:06) – Dogecoin
(1:28:36) – Advice for startups
(1:44:27) – Book recommendations
(1:46:29) – Advice for young people
(1:50:30) – Meaning of life