[xapata]

Using the airplane analogy, there's a good amount of turbulence in the market. Especially as you look at smaller scales, both in time and price changes. There's a decent amount of literature discussing evidence that low-latency trading has increased market turbulence for little efficiency gain.

I'm having trouble scrounging up links, but a lot of good research came out of the Santa Fe Institute and associated folks.

[FabHK]

Absolutely... I think HFT is useless rent seeking. It provides little efficiency, I think, and the liquidity often drops out when the market needs it most, anyway.

[throwaway-571]

For exemple Robinhood mostly getting out of the GME trading business because it was too hot and they ran out of credit with their clearing house, preventing their users from participating in the market.