re: Goldman fires 600 traders; replaces them with 2 traders/200 computer programmers

quote:

---

Overall it's a net positive for society if IB & HF are getting downsized

---

I'm thinking further out. Outside of IB and HF.. Look at the auto industry, most of that is going to - already there - robots.. not much need for working bodies.

Im sort of going off of topic here but I was at an SPE meeting in december and it was on drilling automation vs people rigs and how they differ with speed for drilling..

Interesting results is that the machines were consistently fast as expected but a veteran drilling crew was mostly faster as time went on.