Michael Lewis on…the Wall Street Culture Change

“A lot of the books I write are set in culture shifts of one kind or another, or are actually trying to create those changes, which I think was the case with “Moneyball.” The new book is set at the back end of a shift that started right before I got to Wall Street in the 80s. So how is it that it changed when it’s these same old guys that are around already? Well there are a few answers—the obvious new ingredient was the computer. Computing technology changed what was possible on a trading desk. “Moneyball” is a more visible shift in culture, but it’s the same thing. It’s replacing the wisdom of experience and intuitive judgment learned over a career with precise metrics only made possible by computer power, and different industries have assimilated that technology at different speeds.”

 To catch the entirety of Michael Lewis’ Interrogation, out in ai5000 Magazine in early April, click here.