Wall Street Trader Life 1980s vs 90s vs Today | Experts By Decade | Daily Mail

Over the past 45 years, few industries have changed as radically as Wall Street. From the rise of electronic trading to shrinking bid-ask spreads and increased regulation, the trading floor of the 1980s is almost unrecognizable today. In this episode of Experts By Decade, we sit down with three veteran traders to explore how the financial industry has transformed — and what it’s like to survive the seismic shifts.

History Is Unfolding Right in Front of Us

In this video, we explore the unsettling implications of the increasingly popular philosophy known accelerationism, which, in some form or another, is quietly taking hold on the zeitgeist of the modern world. What does the future look like if technology continues to progress at the compounding rate it currently is? What is the end goal of technology’s seemingly unending and uncontrollable progress? Is it good for us? Do we even have a say in it?

Monte Carlo Simulation Explained in 5 min

Monte Carlo Simulation leverages the mathematical foundation of statistics to generate a spectrum of potential future outcomes. In scenarios where complex systems can’t be described in an explicit formula, they help us to model the world in the way it truly is, giving us insights into what might happen, how likely it might happen, and what the worst case scenario looks like so we can prepare for the reality (or realities) of the future.

Sam Altman Shows Me GPT 5… And What’s Next

In the interview with Sam Altman by Cleo Abram, the CEO of OpenAI discusses the recent release of Chat GPT-5 and the future of artificial intelligence. The conversation explores the potential impacts of AI on society.

The Power and Capabilities of GPT-5

  • Altman states that GPT-4 was the “dumbest model any of us will ever have to use again” and describes GPT-5 as “quite remarkable,” with much-improved capabilities in various tasks, including writing and coding.
  • He highlights an example of using GPT-5 to recreate the game of Snake for a TI-83 calculator in seven seconds, demonstrating the model’s ability to create software almost instantaneously.

The Path to Superintelligence and Future Challenges

  • Altman predicts that a large language model will make a significant scientific discovery within the next two years. He defines superintelligence as a system that can exceed human capabilities in almost every field.
  • He discusses the blurring line between real and fake media, and acknowledges that some jobs will disappear, but believes that young people will have new opportunities for creation and innovation. He expresses more concern for older workers who may be less willing to retrain.

Key Limiting Factors in AI Development Altman identifies four main limiting factors for AI development:

  1. Compute: The demand for AI far outstrips the current supply of compute power.
  2. Data: Models are so advanced that they need to be taught how to discover new things and create their own new data.
  3. Algorithmic Design: Altman believes there are still many “orders of magnitudes of algorithmic gains ahead.”
  4. Product Integration: Scientific progress is limited if it isn’t integrated into products that people can use.

Reflections and Final Advice

  • Altman notes the “vertigo-inducing” rate of change and the need for humility and new solutions.
  • He believes that society has a shared responsibility in shaping the future and advises people to prepare for the future by using AI tools to get fluent with their capabilities.

GPT-5 has Arrived

GPT-5 will change how hundreds of millions of people use AI. Yes, you might have to forgive the chart crimes, the underwhelming livestream and Altman hype… But it’s a good model. I have read the 50 page system card in full, have the benchmark scores, coding tests, and things you might have missed.