Fireside Chat: Richard Craib (Founder & CEO, Numerai) with Matt Turck (Partner, FirstMark)

Richard Craib, Founder & CEO of Numerai spoke with FirstMark's Matt Turck in a virtual fireside chat at Data Driven NYC in January 2022.

Numerai is a new kind of quant hedge fund built by a network of data scientists. It uses its own cryptocurrency to incentivize tens of thousands of anonymous contributors around the world to collaborate to create predictive models. To date, Numerai has raised $27.5M in funding from backers like USV, Paradigm, and others.

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Links

Outline
00:17 - Introduction to Richard Craib, Numerai
02:18 - Numerai vs Quantitative Hedge Funds
04:38 - Numerai data
08:54 - Who uses Numerai?
10:35 - The hardest data science problem in the world
12:05 - Master plan
13:14 - Stake-weighted model
18:33 - Crypto payouts
20:03 - Business model
21:43 - IP
22:18 - Feature engineering
24:17 - Targeting residual return
25:26 - Can individuals invest?
29:24 - Track record
32:32 - Close

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The coin Numeraire from Numerai is up and up every day. Really interesting.