ricklentz · November 5, 2017 02:00
diff --git a/external_algorithmists.txt b/external_algorithmists.txt
 I think most companies would be suspect of an external performing this role. 

 Why would someone with the domain knowledge as well as the political and financial independence necessary to  '... certify the soundness of big-data applications like anti-fraud techniques or stock-trading systems' not want to use that knowledge to build new and better services?

 A key external today is tomorrow's competitor. One could argue the threat of lawsuits works - but these are only deterrents and temporary barriers, not absolute prevention techniques.  Remember, if an External Algorithmists violates these agreements you have to prove they did and you have to pay for the defense of them and, in some states, they are often difficult to defend.  Oh, and what if they are now residing in China, say working on their government-sponsored version of your core product or service?  Or they are now in a country like Finland or Iceland, who have different IP laws and your claims are just not valid in their jurisdiction.  The idea just does not stand.

 The SEC has the equivalent of an 'External Algorithmists' to perform certification of stock-trading systems. The National Best Bid / Offer System (NBBO) is still broken. (For a comical treatment of the topic, follow Michael Lewis's references and read through the NBBO section in "Flash Boys.")
	I think most companies would be suspect of an external performing this role.

	Why would someone with the domain knowledge as well as the political and financial independence necessary to '... certify the soundness of big-data applications like anti-fraud techniques or stock-trading systems' not want to use that knowledge to build new and better services?

	A key external today is tomorrow's competitor. One could argue the threat of lawsuits works - but these are only deterrents and temporary barriers, not absolute prevention techniques. Remember, if an External Algorithmists violates these agreements you have to prove they did and you have to pay for the defense of them and, in some states, they are often difficult to defend. Oh, and what if they are now residing in China, say working on their government-sponsored version of your core product or service? Or they are now in a country like Finland or Iceland, who have different IP laws and your claims are just not valid in their jurisdiction. The idea just does not stand.

	The SEC has the equivalent of an 'External Algorithmists' to perform certification of stock-trading systems. The National Best Bid / Offer System (NBBO) is still broken. (For a comical treatment of the topic, follow Michael Lewis's references and read through the NBBO section in "Flash Boys.")