Latest Interviews

Hidden Volatility

Brian Garrett, Chris Hussey

Despite a S&P 500 rally driven by retail call-option activity that has inverted standard volatility skew, market strategists are utilizing inverted skew arbitrage and protective put strategies to navigate heightened single-stock risks amid potential government shutdown impacts. Although the October "boogeyman" is historically muted outside of major crises, the concentration of mega-cap tech names and upcoming AI catalysts are expected to be the primary drivers of volatility. With immediate shutdown concerns already factored into a modest market gain, attention is shifting toward Federal Reserve minutes and the delayed Non-Farm Payrolls report to guide the near-term economic outlook.

Unfolding the Mystery of Curved-Crease Sculpture with Origami Theorists from MIT

Martin Demaine, Eric Demaine

MIT researchers Eric and Martin Demaine collaborate as origami theorists to synthesize mathematical geometry with physical sculpture, operating on the principle that fun fuels superior artistic execution. Their bidirectional workflow transforms unsolved mathematical problems into interactive artworks like the "Solve Me" sculpture, which embeds hidden research challenges within complex, visually deceptive paper designs. By creating these impossible geometries, the duo simultaneously generates new mathematical puzzles and drives future research trajectories at the frontier of known solutions.

Big Ideas 2024: A New Age of Maritime Exploration with Grant Gregory

Grant Gregory

Capitalized on a significant mapping gap where seabed resolution lags far behind celestial charts, the maritime sector is undergoing a digital and hardware revolution driven by urgent regulatory and geopolitical needs. Companies are adapting space-age engineering to replace analog workflows with autonomous vessels and synchronized seafloor topography, addressing critical vulnerabilities exposed by recent supply chain disruptions. This shift creates a multi-billion dollar opportunity for entrepreneurs to layer software onto hardware platforms, transforming an industry that handles over 55% of global GDP while overcoming decades of operational friction.

Covid-19: why your life will never be the same again

James Francham, Tom

The Economist has developed a global normality index tracking behavioral shifts across 50 nations in transport, leisure, and business to quantify the transition from pandemic restrictions to post-pandemic norms. Historical precedents like the Black Death and the 1918 flu inform the analysis of how health crises drive structural change, while current data suggests a hybrid world is emerging where retail habits and office occupancy permanently settle between pre-pandemic levels and new digital realities. Although long-term outcomes depend on future vaccine efficacy, the index confirms that society is moving toward a "normality tracker" that captures simultaneous acceleration of remote work and revival of mid-century trends like drive-throughs.

How can business survive climate change?

Lisa McKellie, Dan Petroski, Rich Sorkin, Gavin Schmidt, Chidiote Obihara, Nicolette Bartlett, Christopher Vanden Riche, Guy Scriven

Corporate leaders face escalating physical risks and mandatory litigation as climate change drives trillion-dollar asset threats while regulators shift from voluntary to enforced emissions reductions. Major enterprises like Microsoft, Amazon, and Ørsted are responding with accelerated decarbonization strategies and supply chain transparency to secure market value and avoid financial obsolescence. Experts warn that failing to adopt green technologies and disclose carbon footprints now will result in stranded assets and catastrophic economic loss as the window for effective adaptation rapidly closes.

Covid-19: how to fix the economy

Henry Kerr

The pandemic triggered an unprecedented synchronized global economic shock, forcing governments in the US, UK, and Europe to deploy trillions in stimulus and innovative income support to mitigate record unemployment and prevent social instability. This crisis has accelerated structural shifts toward remote work, digital adoption, and supply chain protectionism, challenging policymakers to balance immediate fiscal relief with long-term sustainability while avoiding the austerity errors of the past decade. Ultimately, the scale of government intervention offers a critical window to reform the relationship between the state and citizens, though success depends on managing rising debt burdens and emerging populist tensions.

Will covid kill globalisation?

Vijay Vaitheeswaran

Driven by the 2008 financial crisis, the US-China trade war, and the COVID-19 pandemic, the global economy is rapidly shifting from hyper-connectivity toward a fractured, regionalized structure where supply chain resilience outweighs pure efficiency. This transformation forces multinational corporations to localize operations while simultaneously triggering technological decoupling and political nationalism that risks leaving developing nations behind in the industrialization race. Experts conclude that while the era of unfettered global trade has ended, the optimal future path lies in fostering "resilient interdependence" rather than isolationist barriers.

How to treat covid-19

In response to the 2020 SARS-CoV-2 pandemic, scientists are repurposing existing antivirals like Remdesivir and hydroxychloroquine to target the viral replicase system while the World Health Organization launches a global megatrial to evaluate their efficacy. Although President Donald Trump championed hydroxychloroquine as an immediate solution, rigorous clinical data remains limited compared to laboratory findings, prompting the trial to seek evidence of marginal therapeutic benefits. This strategy aims to rapidly reduce hospital stays and alleviate health system strain while the definitive long-term vaccine solution continues to develop over the estimated 1.5 to 2 years.

Any Company Can Offer Financial Services

Angela

Traditional financial institutions are being disrupted by a new "as-a-service" infrastructure stack that allows non-financial companies like Uber and Shopify to integrate banking products directly into their core models. By abstracting complex legacy systems and compliance hurdles, platforms such as Synapse and Plaid enable thousands of new ventures to launch niche financial solutions while reducing costs and improving customer trust. This shift is projected to transform the industry, with financial services revenue anticipated to surge from 10% to 80% of attendee sectors within five years as legacy barriers dissolve.

Heuristics and Biases

Sandor Lehoczky

Leveraging the foundational work of Daniel Kahneman and Amos Tversky, this presentation elucidates how human cognition relies on error-prone heuristics and the conflict between fast, intuitive System 1 thinking and slow, analytical System 2 reasoning. The discussion details empirical evidence of systemic biases such as loss aversion, anchoring, and confirmation bias, demonstrating their profound impact on diverse fields ranging from judicial parole decisions to financial market behavior. Rather than attempting to eliminate these innate flaws, the session advocates for strategic mitigation through meta-cognition, Bayesian updating, and the disciplined practice of overriding automatic responses to improve real-world decision-making outcomes.

Arjun Guha: On Verification for System Configurations Languages

Arjun Guha

Researchers developed "Rehearsal," a verification tool designed to detect determinism and idempotency violations in Puppet configuration manifests, which are frequent causes of major system outages. The system employs a transformation pipeline that converts complex Puppet syntax into Datalog and a low-level modeling language, leveraging the Z3 SMT solver alongside optimizations like partial order reduction and state pruning to analyze real-world code efficiently. Benchmarks on GitHub-scraped manifests demonstrate that this approach successfully identifies previously unknown non-deterministic bugs and generates fixes, although current limitations exclude shell script execution and specific file permission modeling.

How to Build an Exchange

Claudio, Ron, Pete

A US equities matching engine utilizes a deterministic, single-instance architecture to process three million messages per second while ensuring fair, latency-critical order execution across thousands of symbols. The system employs C++ and OCaml on a dedicated machine to replace complex distributed consensus with high-speed, single-threaded logic, allowing state machines to recover from failures within 30 to 60 seconds via message log replay. This design guarantees regulatory reproducibility and financial reliability by eliminating consensus overhead, enabling clients to achieve precise atomicity and global risk enforcement through simplified, high-throughput message sequencing.

Effective ML 2011 Harvard CS51 Part 2

Jane Street's engineering philosophy prioritizes explicit error handling, strict boilerplate avoidance, and managed complexity to ensure robust high-frequency trading systems. By leveraging OCaml's predictable performance and enforcing rigorous code review protocols alongside small, autonomous teams, the firm balances mathematical precision with human oversight in a hybrid trading model. This approach treats software development as a discipline of clarity and maintainability, where static typing and disciplined mutation control enable reliable operation in volatile markets.

Dr. Cristián Samper, President & CEO of the WCS: Talks at GS Session Highlights

Cristián Samper, Dr. Christian Sampere, Stephen

Dr. Christian Sampere, CEO of the Wildlife Conservation Society, leads a global conservation effort spanning 65 countries by leveraging public-private partnerships and carbon credit deals to fund community-based protection of charismatic species. This strategy has yielded significant results, such as halting Amazon deforestation through international payments and rebuilding New York's Ocean Wonders aquarium with a $250 million resilience investment following Hurricane Sandy. By combining scientific data on human footprints with sustainable development goals, the organization balances ecological preservation with economic incentives to secure large species populations in critical habitats.