Richard CraibEvery podcast appearance, updated as new ones drop

Today, I’m speaking with Richard Craib, the CEO and founder of Numerai. If you’ve heard of Numerai before and thought of it as an interesting experiment at the intersection of data science and crypto, it’s worth updating that mental model. Over the last few years, Numerai has quietly grown from roughly $60 million in assets to over $600 million. JPMorgan has invested and secured $500 million of capacity, and Numerai recently raised a Series C at a $500 million valuation led by top university endowments. This is no longer a toy project. It is a real, institutional-scale market-neutral hedge fund with a very unconventional engine. In this conversation, we go deep into how Numerai actually works. Richard walks through the core insight behind Numerai’s design: that crowd-sourced alpha only works if incentives are aligned, not just participation. Simply opening up data and ranking models creates incentives to game the system, not to produce durable signals. That realization led to the introduction of the Numeraire token. By forcing researchers to stake real capital behind their predictions, Numerai shifts from a leaderboard-driven experiment to a capital-weighted signal engine. Instead of rewarding activity, the system rewards conviction, accountability, and uniqueness, creating a self-filtering model that naturally reduces noise and discourages the behaviors that caused earlier crowd-sourced platforms to fail. We also talk about portfolio construction and risk management, including how Numerai neutralizes common factor exposures, what went wrong during the 2023 drawdown, and how those lessons reshaped their approach to diversification and concentration. Finally, we look forward, covering the limits of crowd-sourced modeling, the next frontier for Numerai’s research ecosystem, and how Richard sees AI agents reshaping model development. Please enjoy my conversation with Richard Craib.

Decentralization has sparked more conversation and opinions than we can track. As people become more aware of the cracks in the current financial system, solutions to the ways through and over those existing barriers become more appealing. Richard Craib is the founder of the crowdsourced quant hedge fund, Numerai, which is using sophisticated machine learning to create models that essentially predict how the stock market moves. During this conversation with Tom, Richard is sharing how crypto is breaking the barriers of the old financial system that was meant to protect people, while effectively keeping everyone out. This is another resource that can be really useful in seeing the bitcoin revolution, blockchain and cryptocurrency in another light, especially through the lens of finance. [Original air date: 10-28-21]. SHOW NOTES: 0:00 | Introduction Richard Craib 0:55 | Financial System Barrier 7:29 | Blocking Innovation 13:07 | Navigating 2 Money Systems 18:13 | Crowd Validation & Volume 24:42 | Machine Learning Models 31:44 | Hedge Funds and Stocks 39:08 | What Happened With Gamestop 44:26 | Decentralized Capitalism 51:12 | Unstoppable Technology 1:00:38 | Bank Regulation Traps 1:08:01 | Staking Benefit for Internet 1:15:46 | Being a Quant Trader 1:22:08 | Math Language in Crypto 1:31:21 | Thinking from 1st Principles 1:34:55 | Entrepreneurship Advice Follow Richard Craib: Website: https://numer.ai/ Fund: https://numerai.fund/ LinkedIn: https://www.linkedin.com/in/richardcraib/ Twitter: https://twitter.com/richardcraib CHECK OUT OUR SPONSORS Navage: Get a cleaning kit as a FREE gift with your order, but only by going to http://www.navage.com/IMPACT Oracle: Take a free test drive of OCI at http://oracle.com/THEORY Shopify: Sign up for a $1/month trial period at http://www.shopify.com/impact ZBiotics : Head to http://www.zbiotics.com/impact and use the code IMPACT at checkout for 15% off. Range Rover: Explore the Range Rover Sport at http://www.landroverusa.com/ Betterhelp: This episode is sponsored by BetterHelp. Give online therapy a try at https://betterhelp.com/impacttheory and get 10% off your first month. FOLLOW TOM: Instagram: https://www.instagram.com/tombilyeu/ Tik Tok: https://www.tiktok.com/@tombilyeu?lang=en Twitter: https://twitter.com/tombilyeu YouTube: https://www.youtube.com/@TomBilyeu What's up, everybody? It's Tom Bilyeu here. If you're serious about leveling up your life, I urge you to check out my new podcast, Tom Bilyeu’s Mindset Playbook — a goldmine of my most impactful episodes on mindset, business, and health. Trust me, your future self will thank you. LISTEN AD FREE + BONUS EPISODES on APPLE PODCASTS : apple.co/impacttheory Learn more about your ad choices. Visit megaphone.fm/adchoices See Privacy P

Decentralization has sparked more conversation and opinions than we can track. As people become more aware of the cracks in the current financial system, solutions to the ways through and over those existing barriers become more appealing. Richard Craib is the founder of the crowdsourced quant hedge fund, Numerai, which is using sophisticated machine learning to create models that essentially predict how the stock market moves. During this conversation with Tom, Richard is sharing how crypto is breaking the barriers of the old financial system that was meant to protect people, while effectively keeping everyone out. This is another resource that can be really useful in seeing the bitcoin revolution, blockchain and cryptocurrency in another light, especially through the lens of finance. [Original air date: 10-28-21]. SHOW NOTES: 0:00 | Introduction Richard Craib 0:55 | Financial System Barrier 7:29 | Blocking Innovation 13:07 | Navigating 2 Money Systems 18:13 | Crowd Validation & Volume 24:42 | Machine Learning Models 31:44 | Hedge Funds and Stocks 39:08 | What Happened With Gamestop 44:26 | Decentralized Capitalism 51:12 | Unstoppable Technology 1:00:38 | Bank Regulation Traps 1:08:01 | Staking Benefit for Internet 1:15:46 | Being a Quant Trader 1:22:08 | Math Language in Crypto 1:31:21 | Thinking from 1st Principles 1:34:55 | Entrepreneurship Advice Follow Richard Craib: Website: https://numer.ai/ Fund: https://numerai.fund/ LinkedIn: https://www.linkedin.com/in/richardcraib/ Twitter: https://twitter.com/richardcraib CHECK OUT OUR SPONSORS Navage: Get a cleaning kit as a FREE gift with your order, but only by going to http://www.navage.com/IMPACT Oracle: Take a free test drive of OCI at http://oracle.com/THEORY Shopify: Sign up for a $1/month trial period at http://www.shopify.com/impact ZBiotics : Head to http://www.zbiotics.com/impact and use the code IMPACT at checkout for 15% off. Range Rover: Explore the Range Rover Sport at http://www.landroverusa.com/ Betterhelp: This episode is sponsored by BetterHelp. Give online therapy a try at https://betterhelp.com/impacttheory and get 10% off your first month. FOLLOW TOM: Instagram: https://www.instagram.com/tombilyeu/ Tik Tok: https://www.tiktok.com/@tombilyeu?lang=en Twitter: https://twitter.com/tombilyeu YouTube: https://www.youtube.com/@TomBilyeu What's up, everybody? It's Tom Bilyeu here. If you're serious about leveling up your life, I urge you to check out my new podcast, Tom Bilyeu’s Mindset Playbook — a goldmine of my most impactful episodes on mindset, business, and health. Trust me, your future self will thank you. LISTEN AD FREE + BONUS EPISODES on APPLE PODCASTS : apple.co/impacttheory Learn more about your ad choices. Visit megaphone.fm/adchoices

Prediction markets were one of the first use cases of smart contracts, yet their popularity only recently spiked, following Polymarket’s social media spread. However, while prediction markets are generally zero-sum games, the rise of AI models trained on large datasets led to AI-powered prediction feeds and hedge funds. Crypto offers a unique array of use cases as it allows data scientists to not only share their data sets and models with complete privacy, but also access decentralised computing and model training. While Predictoor employs Ocean’s data infrastructure to run AI-powered prediction bots on lower timeframes, Numerai developed its own AI hedge fund for stocks, that recently also expanded to crypto (Numerai does not trade cryptocurrencies, and Numerai’s Hedge Fund(s) have no relation to Numerai Crypto). Topics covered in this episode: Predictoor & Numerai overview Prediction markets Prediction feeds Prediction markets in TradFi and other use cases Implementation of Ocean’s tech in Predictoor Predictions vs. Futures Market participants Numerai hedge fund Numerai’s trust assumptions The role of AI The evolution of AI and how it might solve market inefficiencies Numerai crypto and how it differs from Predictoor Predictoor x Numerai collaborations The future of prediction markets Episode links: Trent McConaghy on Twitter Richard Craib on Twitter Predictoor on Twitter Numerai on Twitter Ocean Protocol on Twitter Oasis Protocol on Twitter Sponsors: Gnosis: Gnosis builds decentralized infrastructure for the Ethereum ecosystem, since 2015. This year marks the launch of Gnosis Pay— the world's first Decentralized Payment Network. Get started today at - gnosis.io Chorus One: Chorus One is one of the largest node operators worldwide, supporting more than 100,000 delegators, across 45 networks. The recently launched OPUS allows staking up to 8,000 ETH in a single transaction. Enjoy the highest yields and institutional grade security at - chorus.one This episode is hosted by Friederike Ernst.

Richard Craib is the Founder & CEO of Numerai, a new kind of hedge fund where data scientists around the world collaborate to predict equity returns using artificial intelligence. Richard joins the show to discuss Numerai's origins, how it embraces the spirit of open source, why it has its own cryptocurrency and MUCH more! Important Links: Numerai Richard's Twitter Show Notes: The genesis of Numerai How and why Numerai gives away its dataset Getting users to put skin in the game How Numerai scores users; becoming comfortable with the process Size limits & leverage Reactions to Numerai Numerai's cryptocurrency How Numerai differs from Quantopian Data, optimization & LLMs "Monopolize intelligence, monopolize data, monopolize money, and decentralize the monopoly" What could go wrong? Numerai's relationship with its data scientists Could Numerai's model work in any other industries? What could go wrong? "Life is long" MORE!

Today's Sponsored Insight is from Richard Craib, the Founder and CEO of Numerai, a machine learning-based hedge fund launched in 2015 that crowdsources models from data scientists around the world to predict stock returns, incentivizes participation through cryptocurrency, and centralizes portfolio construction and risk management. Our conversation covers Richard's background, some basics of data science, and the Numerai thesis. We discuss the firm's idea generation, incentive system, quantitative modeling, portfolio construction, and team. We close with investors' reaction to the product and research and development on the horizon. For full show notes, visit the episode webpage here . Learn More ​ Follow Ted on Twitter at @tseides or LinkedIn ​ Subscribe to the mailing list ​ Access Transcript with Premium Membership ​

Quantitative hedge funds (or “quant funds”), which rely on the work of employed mathematicians to develop complex trading strategies, are nothing new. But what if the mathematical work is outsourced to anyone, via a contest where the best predictions are rewarded with cryptocurrency? Richard Craib , founder of Numerai, explains to Azeem Azhar why his $70 million fund uses collective intelligence to perform well, despite the turmoil in the markets. They also discuss: The history and theory of quantitative investing. When collective minds can work better than brilliant individuals. How Richard found himself accidentally explaining how “quant funds” work to Howard Morgan, the co-founder of one of the most successful “quant funds” in the world. @azeem @exponentialview @richardcraib Further resources: Money in the Metaverse (Exponential View Podcast 2022) Superminds Bridging the Innovation Chasm (Exponential View, 2022) Alien Stock Market Intelligence (Richard Craib, 2022) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

On today's episode of Empire, Jason and Mike are joined by Richard Craib, founder of Numerai, to discuss why Richard sold all his ETH. Richard is a prolific investor and has been part of the Ethereum ecosystem since the 2014 ICO. That’s why it was such a big deal when he announced he sold his ETH and that he no longer sees crypto as a good investment. Does crypto have a product outside of speculation? Is crypto’s growth just a result of the Fed? Is crypto more about regulatory arbitrage than the tech? These questions and more are explored in this fascinating conversation (debate!) where Richard holds nothing back. - - Follow Jason: https://twitter.com/JasonYanowitz Follow Mike: https://twitter.com/MikeIppolito_ Follow Empire: https://twitter.com/theempirepod Follow Richard: https://twitter.com/richardcraib Subscribe on YouTube: https://tinyurl.com/4fdhhb2j Subscribe on Apple Podcasts: https://tinyurl.com/mv4frfv7 Subscribe on Spotify: https://tinyurl.com/wbaypprw - - Referenced in the show: Richard's video announcing why he sold his ETH https://twitter.com/richardcraib/status/1523513981347848192?s=20&t=qwlN5rWxe5-KWyJOEr4B6Q -- (00:00) Intro (01:52) Why Richard Sold All of His ETH (09:00) The Fed "Created" UST (12:14) Macro Trouble (15:53) A Market Neutral Strategy (19:38) Is Crypto's Only Product Speculation? (32:58) An Overreaction to a Flawed System (36:26) A Massive Misallocation of Capital (40:25) It's Mostly Just Regulatory Arbitrage (43:00) Why People Join The Crypto Industry (47:33) Is There A Real Use Case? (52:28) What Richard First Liked About Crypto

On the surface, Numerai is a crowdsourced and tokenized hedge fund. Below the surface, it's a decentralized truth machine pointing the way to general Artificial Intelligence. They recently released performance metrics for the first time, showing that Numerai outperforms other market neutral hedge funds by 29%. I talk with Numerai founder Richard Craib about finance and truth, the regulation of crypto, how to raise money for crazy ideas, how to persist on crazy ideas, the future of artificial intelligence, and how to overthrow the Elite Gerontocracy. Numerai ✦ Data scientists can get started at https://numer.ai/ ✦ Numerai's recent performance report: https://medium.com/numerai/numerai-outperforms-market-neutral-hedge-funds-by-29-raises-up-to-150m-9df9a0ce642 ✦ Richard Craib on Twitter: https://twitter.com/richardcraib Other Life ✦ Join 6,000 academics, creators, founders, and investors who read the free Other Life newsletter at https://OtherLife.co ✦ If you're working on long-term intellectual work outside of institutions, request an invitation at https://indiethinkers.org

Richard Craib is the founder of Numerai, a crowd-sourced, AI-run stock trading system. Please support this podcast by checking out our sponsors: – Audible : https://audible.com/lex to get $9.95 a month for 6 months – Tryolabs : https://tryolabs.com/lex – Blinkist : https://blinkist.com/lex and use code LEX to get 25% off premium – Athletic Greens : https://athleticgreens.com/lex and use code LEX to get 1 month of fish oil EPISODE LINKS: Richard’s Twitter: https://twitter.com/richardcraib Numerai’s Twitter: https://twitter.com/numerai Numerai’s Website: https://numer.ai PODCAST INFO: Podcast website: https://lexfridman.com/podcast Apple Podcasts: https://apple.co/2lwqZIr Spotify: https://spoti.fi/2nEwCF8 RSS: https://lexfridman.com/feed/podcast/ YouTube Full Episodes: https://youtube.com/lexfridman YouTube Clips: https://youtube.com/lexclips SUPPORT & CONNECT: – Check out the sponsors above, it’s the best way to support this podcast – Support on Patreon: https://www.patreon.com/lexfridman – Twitter: https://twitter.com/lexfridman – Instagram: https://www.instagram.com/lexfridman – LinkedIn: https://www.linkedin.com/in/lexfridman – Facebook: https://www.facebook.com/LexFridmanPage – Medium: https://medium.com/@lexfridman OUTLINE: Here’s the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time. (00:00) – Introduction (08:12) – WallStreetBets and GameStop saga (22:25) – Evil shorting and chill shorting (24:31) – Hedge funds (30:04) – Vlad (37:00) – Numerai (1:04:16) – Futre of AI in stock trading (1:09:55) – Numerai data (1:13:37) – Is stock trading gambling or investing? (1:17:32) – What is money? (1:20:49) – Cryptocurrency (1:24:06) – Dogecoin (1:28:36) – Advice for startups (1:44:27) – Book recommendations (1:46:29) – Advice for young people (1:50:30) – Meaning of

Richard, the founder of Numerai, joins me for a great podcast to discuss how they are building a blockchain based hedge fund using crowdsourced predictions. Numerai, founded in Dec. 2015, is building a blockchain based hedge fund that utilizes artificial intelligence and crowdsourced stock market predictions. The platform relies on a monthly machine learning and data science “tournament” where users, primarily data scientists, can submit trading algorithms about the stock market. Numerai then employs artificial intelligence algorithms to analyze the predictions, and the best are included in Numerai’s “meta-model” which combines all the underlying inputs on which it will trade the stock market. About Coinbase and Coinbase Prime, our sponsor: Coinbase Prime is one of the leading prime brokerages for digital assets. Coinbase provides the bridge to the crypto world for institutional investors, high net worth individuals, and financial institutions. Through their professional trading platform, deep and diversified liquidity, and Coinbase Custody, Coinbase Prime is built for institutions. Learn more at prime.coinbase.com.

Video Version: https://youtu.be/H0NfDIDcu84 Subscribe here to the newsletter: https://tinyletter.com/sanyambhutani In this episode, Sanyam Bhutani interviews a founder from South Africa, of the ranks of Elon Musk's Genius, Founder & CEO at Numerai: Richard Craib They talk about Richard's journey into the world of Finance, Trading and Data Science. They also discuss the Numerai story, the hedge fund, the competition and recently announced signals, along with the "Master Plan" Links: Signals: https://signals.numer.ai https://medium.com/numerai/numerais-master-plan-1a00f133dba9 Follow: Richard Craib: https://twitter.com/richardcraib https://www.linkedin.com/in/richardcraib/ http://twitter.com/numerai Sanyam Bhutani: https://twitter.com/bhutanisanyam1 Blog: sanyambhutani.com About: https://sanyambhutani.com/tag/chaitimedatascience/ A show for Interviews with Practitioners, Kagglers & Researchers and all things Data Science hosted by Sanyam Bhutani. You can expect weekly episodes every available as Video, Podcast, and blogposts. Intro track: Flow by LiQWYD https://soundcloud.com/liqwyd

What if the way to streamline our current financial system was to turn it into a game? Learn how one business is using gamification to radically transform the finance industry. Hear from Numerai CEO and founder, Richard Craib. -- This program is produced by Mission.org and brought to you by Splunk , the Data-to-Everything Platform. Splunk helps organizations worldwide turn data into doing. With solutions for IT, security, IoT and business operations, Splunk empowers people to make faster, better decisions and take action to get things done. Learn more at splunk.com . -- For full show notes and more, go to mission.org/hidden .

We talk about building a 150 year startup in Web 3 from first principles with Richard Craib, Founder of Numerai, and why he chose to apply himself to solving what he sees in the ultimate mathematical problem: creating ‘the last hedge fund’, through ‘the hardest data science tournament in the world’. We also discuss his approach of crowdsourcing equities trading models through a network of data scientists, and the power of the convergence of blockchain + AI in open data marketplaces.

Numerai, the "hardest data science tournament on the planet". It's a hedge fund with its own distributed research platform designed specifically for AIs. It's the first of its kind and takes a radically different approach to making market predictions. It's completely crowd-sourced and data scientists around the world compete to create the best predictions and get paid with cryptocurrencies. Users are completely blind to the data and Numerai is blind to the code, and the predictive models users generate. The result is a hedge fund which is market neutral, currency neutral, and geography neutral. It makes all decisions solely on the data. Richard Craib, Founder of Numerai, was first on the show 3 years ago when the project's token, Numeraire, was just launched. Since then they have released a number of additions to the network including Numerai Signals and Erasure Bay, with plenty more in the pipeline. Topics covered in this episode: An overview of what the past 3 years since the last episode The Numerai staking model Numerai datasets What is a market neutral fund Numerai’s current assets and their position in the market Staking liquid NMR The latest project - Numerai Signals Numerai's prediction markets Erasure Bay How the future looks for hedge funding on the blockchain Episode links: Numerai website Erasure Bay Numerai Signals Numerai Medium Numerai Twitter Richard Craib Twitter This episode is hosted by Friederike Ernst & Meher Roy. Show notes and listening options: epicenter.tv/348

Erik is joined on this episode by Richard Craib (@richardcraib), founder of Numerai and Erasure, and Riva-Melissa Tez (@rivatez), part of strategy at Intel. They discuss: - What Richard is working on at Numerai, a hedge fund that gives away its (anonymized) data for free. - The Erasure protocol and the value of information marketplaces. - Whether prediction markets for stocks can work. - Whether the Numerai model could work with other types of data, for example, in healthcare. - Whether the quality of startups in San Francisco is going down or up. - The future of universities. - The lack of diversity of political views in San Francisco. Thanks for listening — if you like what you hear, please review us on your favorite podcast platform. Check us out on the web at villageglobal.vc or get in touch with us on Twitter @villageglobal. Venture Stories is brought to you by Village Global and is hosted by co-founder and partner, Erik Torenberg. ______ Village Global’s Network Catalyst accelerator is a personalized program that features masterclasses from some of the best in Silicon Valley and a dedicated network leader focused on making the introductions you need to turbocharge your company. You can participate in-person in San Francisco or virtually from anywhere around the world. Find out more and apply at villageglobal.vc/networkcatalyst.

RECORDED A DAY AFTER SADCAST EPISODE 56 AT THE CHATEAU MORMONT IN Los Angeles, CA. SADWATER GIVES YOU MORE SADCAST W SPECIAL GUEST RICHARD CRAIB Hosted on Acast. See acast.com/privacy for more information.

In this episode, we sit down with Richard Craib from Numerai to talk about crowdsourcing the role of a quant, how Numerai developed and where it is going, Dapp adoption in Ethereum and what it's like to build a hedge fund fulled by a crypto token. He also shares the new project Erasure - a decentralized data marketplace for financial predictions. Follow Richard on Twitter Learn more about Numerai

I intentionally avoid the world of quantitative investing on this podcast. The whole point of this format is to learn about many different fields, and the vast majority of my time is already spent in quant world. Occasionally I’ve broken this rule because of something unique, including this week’s conversation with Richard Craib, the founder and CEO of Numerai. If you listen to the podcast often you’ll have heard me reference Numerai, a hedge fund which blends quant investing, cryptocurrencies, crowdsourcing, and machine learning — talk about a PR company’s dream. One important note: Numerai is both incredibly open and very secretive. You may sense a bit of frustration on my part, but that is only because, as a fellow quant who loves details about data and modeling, we couldn’t go deeper into the details on the record. We discuss how Numerai has created an incentive structure to work with data scientists around the world in an attempt to build better investing models. The idea of having data scientists stake cryptocurrency in support of the quality of their models is fascinating. Like many hedge funds, Numerai doesn’t share its track record, so we don’t know if this works—but I hope you, like me, use this conversation as inspiration for how different technologies can intersect. Hash Power is presented by Fidelity Investments Please enjoy my conversation with Richard Craib. For more episodes go to InvestorFieldGuide.com/podcast . Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub . Follow Patrick on Twitter at @patrick_oshag Show Notes 2:32 - (First Question) – How he came up with Numerai and how its related to his background 4:08 – How he works with and models the data for his system 5:24 – Describing machine learning as it relates to his work, and specifically linear regression 7:11 – The important stages in his sequence 8:46 – How the scale in the number of data scientists they use is different from other areas 11:30 – Which is the most important aspect of creating alpha; their data, algorithm work, proprietary ensembling of those algorithms. 14:30 – The idea of staking in blockchain 17:30 – Does the magnitude of the stake matter in blockchain 19:10 – Understanding the full incentive structure for both staked and unstaked work 21:07 – How is the prize pool determined 22:29 – Philosophy on how to source interesting data 26:11 – His thoughts on the crowd model and the wisdom of crowds 27:12 – The size of stakers for Numerai 27:51 – Interpreting the models and knowing when something is broken 30:03 – How they think about people not submitting

Numerai Founder Richard Craib joined us to discuss his radical project to build a hedge fund with network effects. Numerai manages its portfolio by giving its data in encrypted form to data scientists who compete to create the best predictions and get paid with cryptocurrencies. Numerai expects to radically alter the structure of the hedge fund and asset management industry. Topics covered in this episode: How hedge funds work and what trends effect them Quantitative trading and the role of AI in investing How Numerai uses crowdsourcing and AI to manage its portfolio How Numerai lets data scientists build models without knowing the underlying data The Function of Numerai’s own token Numeraire Why Numerai is switching from paying data scientists in Bitcoin to Ethereum Numerai’s crazy goal of managing all the money in the world Episode links: Numerai Numerai Whitepaper An AI Hedge Fund Goes Live On Ethereum – Numerai – Medium A New Cryptocurrency For Coordinating Artificial Intelligence on Numerai Encrypted Data For Efficient Markets Building the Numerai Meta Model Introducing Numeraire This episode is hosted by Brian Fabian Crain and Meher Roy. Show notes and listening options: epicenter.tv/191

On this episode of BlockChannel, McKie, Dee and Dr. Petty are joined by Richard Craib. Richard is the mind behind “Numerai”; an AI-based hedge fund that feeds off of data science and machine-learning modeling. Models that are used on Numerai for algorithmic trading are submitted by users (Data Scientists) on the platform, where they are rewarded “Numeraire” tokens for successful modeling. Numeraire is not a currency in itself; the tokens are used for Data Scientists to essentially “bet” on their own machine learning models and how well they’d actually perform on a live market with real money. This form of “staking” allows the scientist to essentially receive a dividend of sorts for their successful modeling. As the success of Numerai grows, so will the overall proportion of funds being paid off to data scientists. This project is made possible my utilizing the Ethereum public chain; we believe it’s a ground-breaking concept, one that hopefully is replicated across other hard sciences. Dive in and keep an open-mind! Support the Show! ETH Donation Address: 0xa368e33E927D825F5FD05463E6A781414672251c Show Links: Numerai: numer.ai/about Numeraire Token Info: numer.ai/whitepaper.pdf www.wired.com/2017/02/ai-hedge-f…-like-open-source/ Augur: augur.net Intro/Outro Music “Comeback” by Umai: Thebaygerian – Comeback-1 Show Sponsor(s): Cryptodex: www.cryptodex.io

Crowdsourcing is a relatively common term in technical vernacular today. Even if you're not a self-identified "techie", you may very may well have leveraged crowdsourcing in journalism, the sciences, public policy, or elsewhere. One area in which this concept hasn't really taken off is in finance and hedge funds. In this episode, we speak with Richard Craib, founder of Numerai, about the company's model for pooling data science talent, using "anonymous" models to train financial data, and competing against one another, in which winners are rewarded in bitcoin to exchange through virtual markets. Craib speaks about his overarching vision for the company, and also delves into the past, present, and future of AI applications in finance.