Chapter One, page 8-22

  • The project was discussed of a line, like the lines used to send signals back and forth for phones, that connects a data center in Chicago to New Jersey, without the purpose being disclosed to the very people working on the line. Also discussed was the road blocks found along the way, and the process of selling the line.
  • “it sent out its first press release:”Round-trip travel time from Chicago to New Jersey has been cut to 13 milliseconds” They’d set a goal of coming in at under 840 miles and beaten it; the line was 827 miles long.”p.22
  • This quote is interesting because it shows the accomplishments of the line, and gives some insight to its importance. I find a parallel in the blindness of the construction workers on the line and the blindness in the ‘experts’ trying to explain wall street. I wonder if that is something common of wall street, and I predict it is, workers not knowing why they’re working on certain things, or just in general people working in wall street not knowing the whole picture.  Bennan Carley said that,” [Some] would sell their grandmothers for a microsecond” Which is interesting, because it shows the importance that was put on the speed of information going back and forth and the estimated profits of $20 billion a year if a single wall street bank were to exploit the discrepancies in prices, because of the faster travel time of information because of the line. One thing I don’t fully understand is that the consumer of the line, came back with a single question,”Can you double the price?” It doesn’t make sense to me for the only problem the boss came back with, was the price wasn’t high enough. Maybe he saw more potential in the line then the builders saw, or the price effects how other businesses see the transaction.
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One thought on “Chapter One, page 8-22

  1. This seems like a good overall summary, but it seems based on the information like this should be an argument response to the informative argument the book makes about the importance of time and the competition. Perhaps the response would involve what it says about Wall Street that they would sacrifice a lot just to gain a millisecond’s advantage. I imagine that Lewis is including that detail because he wants his readers to begin to question the character of people on Wall Street.

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