I am reading this book right now and goodness it is a hoot. Did you know that prior to computerization the error rates for stock trades was *high single digit percent*? Schwab fought theirs down to *only 6%* through process improvements then bought a used computer (for ~$500k).https://twitter.com/kevinakwok/status/1225912244745097216 …
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In living memory, every account statement was handcrafted by artisans. Goodness have we forgotten that. Floors upon floors of clerks, patiently adding up numbers in a fashion to MS Excel, except with added ability to have your life savings (temporarily) disappear to math errors.
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Replying to @patio11 @Comparativist
Also, people had life savings
6:46 PM - 13 Feb 2020
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