I know!! Also we could have given an IPhone to 500 million of people for the amount!! It’s such a waste to think they’re investing it in the future instead
HFT is still a massive thing in volume weighted (we call them pro-rata) markets, and it's even more toxic for retail as lots of people submit large orders that are unlikely to get filled immediately (which retail doesn't have the $ to do) to secure a bigger share of the pie
You're right, Meta shouldn't invest in a breakthrough technology. They should focus on what really matters: delivering short term value to shareholders
This outrage talk is ridiculous, you don’t have the morale high ground to judge people, they didn’t break anything, taking VC money isn’t bad, the incident was caused by sore losers looking for drama, etc etc
And by nowadays you mean since ChatGPT got released, that is less than 2 years ago (e.g. a consumer preview of a frontier research project). Interesting.