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gizajob | on: Goldman Sachs is pulling Claude Code from its bankers and traders
You’re overlooking the red queen race. That there’s “no edge” in using the same tools as everyone else is the wrong way round - the edge is lost if you stop using it.

A few years ago someone built a fibre optic cable between New York and Chicago to save 3ms on trades. Naturally every trader had to pay to use it, at great expense. One company couldn’t decline to use it “because everyone else was using it so there’s no edge”.

Goldman have said they’re not using Claude, because their claude use will be leaking their secrets and IP. They will absolutely buy the hardware to reimplement their own version of Claude.

lifeisloving | parent | next
They're not pulling Claude from their research teams and software engineers (where the most IP resides), they're pulling it for productivity reasons from employees that they deem aren't benefitting from it (most people), or are just offshoring their work, its not paying itself off for most employees.

Im sure leaking IP is a concern, but they can control that local/not. But yes Jane st has been building internal LLMs/agents for a while.

Old fashioned prediction modeling/ML is a much better use of your GPUs than generalist language models that are basically time-sheet fraud laundering tools.

lifeisloving | parent
They're not pulling Claude from their research teams and software engineers (where the most IP resides), they're pulling it for productivity reasons from employees that they deem aren't benefitting from it (most people), or are just offshoring their work, its not paying itself off for most employees. Im sure leaking IP is a concern, but they can control that local/not. But yes Jane st has been building internal LLMs/agents for a while.

Old fashioned prediction modeling/ML is a much better use of your GPUs than generalist language models that are basically time-sheet fraud laundering tools.