[DonaldPShimoda]

Yes, this is pretty much it. As I said in another comment, Jane Street does not have customers for whom they provide goods or services. Their primary business model is using the company's own money for investments, and that's a business model that I don't love.

[bostik]

Considering how many high finance shops live off of gambling with other peoples' money, I find the intellectual honesty of a company doing it on their own dime ... refreshing.

[what-the-grump]

Company spends its own money to make money for itself?

Not exploiting teenagers in some 3rd world country?

Not gambling with your pension?

Not manipulating some physical commodity like oil?

What’s the problem here?

[samhw]

> Not exploiting teenagers in some 3rd world country?

> Not gambling with your pension?

> Not manipulating some physical commodity like oil?

There is no reason to believe #1 and #3 aren't true, and I should very much suspect they are. #2 is not possible as far as I can tell, I agree there.