[autokatalyst]

You mentioned these firms are typically smaller in headcount, use private capital, and generate similar returns. Any insight on how they're targeting asset capacity for their meta-strategy approach? The medallion fund, until recently was capped around 3-4 billion [1]. I wonder, if the quality and quantity of data itself, and the models built on that data, are subordinate to the data processing IP as you say, can this type of trading be done at smaller scale, either as an individual or handful of people? I've been out of the industry for a bit, but infrastructure and data costs were the main (financial) hurdles for startups, particularly in the high frequency space.

Are there any firms outside of finance using an analogous approach to data processing and signal construction?

[1] https://www.bloomberg.com/news/articles/2017-08-16/renaissan...