Richard Craib — How to Open Source Finance | Episode 169

Richard Craib is the Founder & CEO of Numerai, a new kind of hedge fund where data scientists around the world collaborate to predict equity returns using artificial intelligence.
Richard joins the show to discuss Numerai’s origins, how it embraces the spirit of open source, why it has its own cryptocurrency and MUCH more!

Important Links:

Show Notes:
0:00:00 Intro
0:01:28 Main podcast
0:03:13 The genesis of Numerai
0:07:53 How and why Numerai gives away its dataset
0:17:19 Getting users to put skin in the game
0:21:31 How Numerai scores users; becoming comfortable with the process
0:25:38 Size limits & leverage
0:28:48 Reactions to Numerai
0:31:53 Numerai’s cryptocurrency
0:36:19 How Numerai differs from Quantopian
0:38:08 Data, optimization & LLMs
0:47:16 “Monopolize intelligence, monopolize data, monopolize money, and decentralize the monopoly”
0:53:30 Numerai’s relationship with its data scientists
1:00:20 What could go wrong?
1:07:20 “Life is long”

[RigorousIgor]

Thanks for putting out this! I observe a very high correlation between Jim and Richard in terms of the view on money management as a busines, no less.