Why Citadel, 2 sigma or other trading companies are not moving to Bay Area?

Akamai Technologies gUvE33
Aug 30 22 Comments

AFAIK Bloomberg is only around from major trading companies.

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TOP 22 Comments
  • Citadel Securities Xnrs10
    Noncompetes are illegal in California. Trading firms rely heavily on noncompetes to protect their IP. There aren’t other moats like brands and either network effects (FB/G) or licensing deals (apple/Netflix)
    Aug 31 4
    • Bloomberg / Eng F.U. money
      TITCR
      Aug 31
    • Microsoft
      Tier 1

      Microsoft

      BIO
      #1 in Prestige
      Tier 1more
      Are the models used by elite firms like Citadel really that simple that an employee could memorize it?
      Aug 31
    • Citadel Securities Xnrs10
      It’s less a question of memorizing and more an 80/20 thing. “the 5 key insights that drove 80% of our pnl last year were X and I know exactly what a good research process looks like so we will figure the rest out”. Also of course they don’t want to lose a bunch of key employees. Citadel is a very small firm compared to FAANG and so it would actually be an issue if 10 top quants/techs left all at once
      Aug 31
    • AT&T MsdR32
      This is a very interesting response and I can completely see the truth to it. Thanks for sharing!
      Aug 31
  • Great American Insurance Group theflare00
    Why move to Bay Area anyways? horrible traffic and congested city
    Aug 30 7
    • WeWork RPvk36
      Have you been to Chicago lol
      Aug 30
    • Great American Insurance Group theflare00
      Lol people in BayArea think that they are the only Talented people in US. I guess they duno about Chicago @Rpvk36 ;)
      Aug 30
    • Akamai Technologies levin
      So you are telling all these people who put 30% of world investment into tech in Bay Area have an attitude?
      Aug 30
    • Apple dr amazing
      Bay Area is overrated.
      Aug 30
    • Autodesk
      Dad

      Autodesk

      BIO
      Dad knows best
      Dadmore
      San Francisco Bay Area even before the tech industry has always been a viable location hub for global trade, commerce, and finance between the Asia Pacific and Americas on the west and cultural influences from these regions
      Aug 31
  • Lyft PcKT80
    Market hours are based in EST. Citadel does have a small office in SF.
    Aug 31 0
  • New
    cafe-latte

    New

    PRE
    Apple
    cafe-lattemore
    Bay Area is full of software engineers. Although trading companies needs software engineers for managing things, reporting, data engineering etc.. it is not really essential part. You can find more experienced folks in related areas focusing on trading in NY, Chicago or Boston.
    Aug 30 0
  • Great American Insurance Group theflare00
    Yes They have an attitude and they only invest heavily in one part of the country. We talk about US leading in IT when every innovation happens only in BayArea but rest of US is still using cheques for payments (just one example to show how long it took for wireless payment to expand in US when UK and Europe was using it back in 2010 ) and it takes years for that technology to actually flourish all over States. Yes it is a IT hub which attracts investors but doesnt mean it includes only talented people. I was just trying to make it clear on you that the TALENT is not just in BayArea
    Aug 30 2
    • Akamai Technologies levin
      Did I stated the talent is JUST in Bay Area?
      Aug 30
    • Great American Insurance Group theflare00
      Read your message again.
      Aug 30
  • New Qfjg38
    NYC is the core of the financial industry in the us. Those companies need top finance talent in addition to technical talent and that's not easy to come by with a city filled with tech workers. Plus a lot of those companies work closely with other finance companies (as clearing firms, for example) so its helpful to be closeby for relationship building purposes.
    Aug 31 0
  • Expedia Group / Product produxtBrah
    who tf wants to get up at stupid o' clock?
    Aug 31 0
  • Akamai Technologies levin
    Expanding in Bay area?
    Aug 30 0
  • Apple
    djeu63fhrj

    Apple

    PRE
    Google, Netflix
    djeu63fhrjmore
    Citadel is in SF now
    Aug 30 0