Jim Simons, a legendary figure in finance, revolutionized the industry by founding Renaissance Technologies, which boasted the highly successful medallion fund with a remarkable yearly return. Simons introduced a quantitative-based trading approach, relying on algorithmic strategies rather than human intervention, and focusing on short-term market inefficiencies. His pioneering work inspired a shift towards algorithmic trading on Wall Street. Simons' success was attributed to a combination of factors, such as leveraging computer technology, capping fund size, hedging bets, and effective people management. His approach changed the landscape of hedge funds and money management, leaving a lasting impact on the industry.