The Bear Roars Bandwidth: Drake Livingston, Telecom Lead at Hudson River Trading
In this episode of The Bear Roars, Dan sits down with Drake Livingston to unpack the story behind Spread Networks—an ultra-low latency fiber route built to connect Chicago and New York faster than ever before. What started as a bold idea from a former trader turned into one of the most talked-about infrastructure builds in telecom and trading history.
Drake reflects on how Spread’s team—backed by Jim and David Barksdale—quietly constructed a perfectly straight fiber line, cutting through the noise (and terrain) of traditional networks. From navigating right-of-way challenges to stripping down optical gear for speed, they engineered every detail for one purpose: to give traders an edge measured in microseconds.
Drake and Dan also dive into the acquisition of Spread by Zayo, how that move unlocked new ways of thinking about pricing, route design, and customer relationships, and why telecom companies often overlook the power of focus. Their conversation touches on the culture that made Spread different, what it taught the broader Zayo team, and where they see infrastructure innovation heading next—including quantum networks and precision timekeeping.
Order Dan’s Book – Bandwidth: The Untold Story of Ambition, Deception, and Innovation that Shaped the Internet Age and Dot-Com Boom: dan-caruso.com/book
For more information, check out Drake’s recommended podcast and reading lists:
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