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518 points bwfan123 | 2 comments | | HN request time: 0s | source
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cs702 ◴[] No.44483909[source]
According to Indian regulators, every trading day Jane Street would:

1) buy large volumes of stocks and/or stock futures that are part of an index tracking India’s banking sector, early in the day,

2) subsequently place large options trades, betting that the index would decline or volatility would spike later in the day, and

3) later in the day, cash out of the large long positions, dragging the index lower, making far more money on the options trades than on the long positions.

Jane Street can and likely will claim the firm was only arbitraging away pricing inefficiencies, nothing more, nothing less. It was just business as usual, etc., etc.

However, given the scale of the operation, Jane Street's actions sure look like textbook market manipulation. Calling it like I see it.

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Workaccount2 ◴[] No.44486444[source]
And this is what some of the brightest minds in the country are being harvested to develop. One of the biggest ongoing travesties.
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thierrydamiba ◴[] No.44486970[source]
Cash rules everything around me has been the slogan for this generation. Why wouldn’t they chase the biggest dollar?
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Avicebron ◴[] No.44487004[source]
By this generation please clarify you mean the ones that started this campaign in the 70s, not the subsequent lost generations of people who can barely envision owning a home with a graduate degree in engineering
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MichaelOldfield ◴[] No.44487657[source]
Come on. How can you not be able to buy a house with an engineering degree? It's one of the best degrees out there.

Define buying a house.

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nine_k ◴[] No.44488354[source]
For instance, buying a house in Bay Area. Realty around NYC is not very affordable, too. But such places is where the engineering jobs are.
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lupusreal ◴[] No.44488384[source]
If you get a real engineering degree instead of computer science slop, then your options for where to live and work (without relying on WFH trends going the right way for you) open up substantially.
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MichaelOldfield ◴[] No.44488502[source]
a real computer science degree from a good school is a real engineering degree. And you can do a lot of things with it. Pivot quickly.

an "information technology" degree that teaches React and stuff is not engineering.

This is the last website I would imagine people complaining they can't buy a house.

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vonneumannstan ◴[] No.44491217[source]
>This is the last website I would imagine people complaining they can't buy a house.

Even Senior+ level SWEs at FAANG's in Silicon Valley have trouble buying homes there. The costs are absurd.

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1. MichaelOldfield ◴[] No.44492571[source]
I guarantee you, it's harder in 90% of places in the world (accounting for buying power/price of real estate). You guys don't understand our privilege.

You can buy an f'ing house. In places like Ukraine people make $100/month and apartments are $50k(and I'm talking before the war). There, it's LITERALLY impossible.

What people here are describing is that things should be better, and I agree, but words matter.

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2. nine_k ◴[] No.44493402[source]
Google tells us:

In 2021, the median annual salary for software engineers in Ukraine ranged from $30,000 to $48,175, depending on location and experience. Some specific figures include $30,000 in Kyiv, $29,000 in Lviv, and $24,000 in Kharkiv. Remote software engineers in Ukraine had a median salary of $48,175.

It's quite below the EU median, but definitely not $100 a day.

BTW $100 a day is $12.50 a hour, which is more than the federal minimum wage in the US ($7.50 or so), and only $4 below California's minimum wage, $16.50.