Against the Rules: The Big Short Companion The Magic Shoebox
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May 14, 2019 
Brad Katsuyama, co-founder of IEX and former head of trading at the Royal Bank of Canada, and Ronan Ryan, a key player in high-frequency trading, dive into the cutthroat world of Wall Street. They reveal how milliseconds can make millions, discussing their mission to create a fairer stock exchange. The duo shares humorous anecdotes about the challenges posed by trading technology and ethical dilemmas in finance. Their insights prompt a reflection on the importance of integrity amidst the chaos of high-speed trading.
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Walker's Indifference
- Michael Lewis explains to Walker how high-frequency trading computers can act on his Apple stock purchase before anyone else.
- Walker doesn't seem bothered by this, comparing it to a lottery.
Questionable Profits
- Robert Jackson points out the astonishing profitability of stock exchanges, questioning the fairness of the system.
- He draws an analogy to letting Uber run the subway or Barnes and Noble run the library.
Harvard's Take
- Harvard students in Michael Sandel's class largely agree that Wall Street is rigged after reading "Flash Boys."
- One student questions the moral problem, comparing it to a basketball play.