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19 October 2007
Web 2.0 Summit - Paul Kedrosky
Posted by Paul Miller at October 19, 2007 10:07 PM
Venture capitalist Paul Kedrosky is up on stage with Tim O'Reilly in the post-lunch slot, talking about “Web 2.0 and Wall Street”
Tim - “Web 2.0 is really about collective intelligence, where the intelligence is driven by the network... Financial markets are really like that too, and have been doing it a lot longer.”
Paul - a lot of different applications that cross from finance to the social space - eg intrade or MarketWatch.
Paul - “stock markets are social networks”. eg stockpickr.
Paul - interesting to see ways of extracting 'alpha' (something differentiating) from contextual data - eg altos, weatherbill, etc harvesting freely available data and using aggregations to power prediction. Importance, too, of increasingly real-time access to the data.
“The future always comes too fast, and in the wrong order” (Tim, quoting Alvin Toffler)
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