Maybe more geeks need to meet someone who says “My job is teleporting value across time and space.”
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Financial engineering is sort of a squishy term. I don’t primarily mean payments infrastructure or financial rails, although both of those involve substantial engineering. I mean more “We took a thing and performed some alchemy, and now have a new thing.”
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Except instead of alchemy it is generally quite a bit of math, a huge amount of contract law and due diligence, often an impressive amount of ops work, and a dusting of technology that web devs would recognize as such.
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Skyscrapers are good if they can remain standing. If. Otherwise, four story office buildings, it’s cool. I kinda expect to see the Remaining Bank of America. And it’s a problem. Financial engineering doesn’t seem to know decision fatigue exists.
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Why is this unpopular within your circle?
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I assume because of derivatives, credit default swaps, payday lending, etc.
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Unfortunately the rare, really bad events are very, very noticeable while innovations in risk management and liquidity are invisible to 99+% of the world.
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Any favorite accounts of financial progress?
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True! I suspect the pushback is because it has also contributed substantially to a great deal of preventable human misery. Like other tools, the thing that matters most is the judgement behind its use.
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