Numerai

“And so we have the best modeling talent because we have much more More, many more data scientists working on Numeri than any other hedge fund in the world.”

“And if your model performs well on Nimri, we'll give you more NMR tokens. And if your model performs badly, we can burn your stake.”

“Numeri's mission is to kind of monopolize intelligence and monopolize data, and then monopolize money, and then decentralize the monopoly.”

“We've even, I think even just last year we paid ten million dollars. So it's so much higher than the rewards are so much higher than the other data science competitions on online by orders of magnitude.”

“So we trade about A thousand stocks at a time. 500 long, 500 short.”

“And you know, for example, in March, 2020, when the market fell 30% in about 20 days we were down one and a half percent.”

“We probably spend more than a million dollars a year on data.”

“They never give us their code. They never assigning us IP around their models. They can train them in any way they want to keep them on any server they want. The only thing they have to do is provide us the predictions every week.”

“And there's some users that have made more than a million dollars.”

“At the end of this process, we have a hedge fund that is basically closed to everybody except for like seven investors in the world.”

“If we do say a linear model just on our data, it sort of performs okay. If we do our own internal machine learning model on the data, it performs better than that. And if we use everyone's model that's being submitted to Numeri, it's way better than even that.”

“We have one really good user who works at NASA Jet Propulsion Lab and who's really strong at data science. And he's actually working on a mission to one of Jupiter's moons.”

“So everyone's providing signals on all 5000 stocks in global equities, and we take the stake weighted average of all those signals.”

“That's why I think we have, yeah, about right now over fifteen million dollars at stake.”

“A big investor could come and give us a hundred million dollars and we would charge two and 20 on the investment.”

“The whole point of staking is to get an assessment of how much they believe their model will Generalize.”