The Bund flipper in 90s & 00s bund futures markets, no doubt the PTF/HFTs made that game a lot harder. Am sure there are many tales from the pits and trading floors both sides of the pond, even know a handful myself. Commodity markets are also notorious in that regard. Ultimately getting out of a hole is often a function of how deep the pockets are, how much time you have, and how proactive you can be.
Mischa Saul had a podcast a while with Delian Asparouhov about Varda Space and space manufacturing in general. Really interesting, and at the end there’s a great section asking him about what he disagrees with other Founders Fund investors on. https://mishasaul.podbean.com/e/space-factories-%f0%9f%9a-with-delian-asparouhov/
The New Yorker piece yesterday on Cerebras, a Benchmark-backed startup making a giant chip, was interesting. If you've read The Big Score, it pairs well with the chapter on the Gene Amdahl, who is referenced - at the time the book was written in the 80s, he had just started Trilogy, a well-funded startup that attempted to do the same thing. Apparently chips designed to improve AI performance are themselves designed with AI software - the article describes it like an Escher drawing, or "like feeding chickens chicken nuggets".
For large chips: Graphcore in the UK
For trading:
The Bund flipper in 90s & 00s bund futures markets, no doubt the PTF/HFTs made that game a lot harder. Am sure there are many tales from the pits and trading floors both sides of the pond, even know a handful myself. Commodity markets are also notorious in that regard. Ultimately getting out of a hole is often a function of how deep the pockets are, how much time you have, and how proactive you can be.
Mischa Saul had a podcast a while with Delian Asparouhov about Varda Space and space manufacturing in general. Really interesting, and at the end there’s a great section asking him about what he disagrees with other Founders Fund investors on. https://mishasaul.podbean.com/e/space-factories-%f0%9f%9a-with-delian-asparouhov/
The New Yorker piece yesterday on Cerebras, a Benchmark-backed startup making a giant chip, was interesting. If you've read The Big Score, it pairs well with the chapter on the Gene Amdahl, who is referenced - at the time the book was written in the 80s, he had just started Trilogy, a well-funded startup that attempted to do the same thing. Apparently chips designed to improve AI performance are themselves designed with AI software - the article describes it like an Escher drawing, or "like feeding chickens chicken nuggets".
https://www.newyorker.com/tech/annals-of-technology/the-worlds-largest-computer-chip