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Sebastian Lees on Humanizing Technology

The Human Risk Podcast

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Night Capital: How One Software Bug Destroyed a Leading Trading House

Night Capital, a leading trading house, was quickly destroyed by a new algorithmic trading software that went haywire. This software executed thousands of trades in just 45 minutes, resulting in a $440 million loss for the company. The root cause was a 10-year-old dormant software system called Power Pack that was mistakenly left on.

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