“Well, it's a huge leap in technological developments, but it's basically As a computer programmer, I look at it basically as a new higher level language that is much much, much, much more powerful than anything that came before, but qualitatively is not different than the way we went from machine language to assembler language to fort Run and Cobol and eventually C and all the other languages. So this is a natural language. So AI is basically a higher level language, which is a natural language, and it also has to it available all the data that exists in the world, so that's why it is so immensely powerful.”
“So we are choosing contracts that, in our minds have questions, the answers to which have serious economic consequences. So, for example, global warming, I think it's a huge question, maybe not this year, but ten twenty years from night certainly will be, or the rate of adoption of AI or I mean, you know, really significant questions that basically will determine how we live our lives ten to twenty years from now, and therefore it's important for us to have questions to those answers so that people that enter schools today, or decide to buy a house somewhere, or decide what profession they are going to study and develop into these sorts of questions deserved to have serious answers.”
Prediction markets will become essential institutional tools
“Definitely, I'm absolutely convinced. So the stock market that gives us a venue to invest in the future, basically in the future of different companies, but you know, some of how those companies are actually going to end up faring in the future has a lot to do with the economic environment and social environment in the future, and basically we are left to our own devices to decipher what the future holds. So the prediction market gives them an opportunity to gather experts around who are not afraid to put their money on the line and express what they think, and to collect a consensus opinion so that we all know what we can possibly expect if it's probably a better guest than what we individually could come up with.”
Fungible contracts are necessary for market liquidity
“So fund ability is a great issue, and it is in the interest of the market participants to create as much french ability as possible. So accordingly, we are going to structure our contracts to be identical. Whenever it's possible. It is in the interest of the market participants to create as much french ability as possible. So accordingly, we are going to structure our contracts to be identical.”
“So. We are coming out at the end of May with a consolidated feed where contracts that exist on cellular platforms we will have consolidated so that when somebody comes to us interactive brokers to look at the market. We will give them the consolidated feed just like we do on stocks there. Yeah, trade on I don't know, Tony or so markets and we always have the best feed on offer and we always provide best executions based on all the possible venues that stop trades, and we will do the same thing on prediction markets.”
“But on the other hand, and in spite of that, I'm in favor of not having any rules against insider trading. I would like all the information out there as soon as it's available, because look, as a society, we're better off knowing as soon as possible anything that is noble, right, So why do we have to wait several First of all, when you face with a merger or acquisition situation where most of the insider trading is happening, right, the secretary is the lawyers. Everybody knows about it. They go home, they tell they buns day. So it eventually always filters out. So it's almost impossible to avoid. It's very very difficult and con versome. Why don't we just do away with it and let the information come out as soon as possible.”
