We are still sprinting to roll the latest and greatest to private alpha but we need more help! Please check out the Quantopian jobs page and pass it to your nerd/geek/hacker/supercool friends and anyone who wants to come hack Wall Street with us.
Another big announcement: Quantopian will soon have a permanent office right in town Boston. We debated heavily where we should base ourselves: NYC, Boston, or San Francisco. I had Caitie and the kids ready to roll west, but one of our board members made an impassioned pitch for Boston. He got us to fall in love with the Hub all over again. In Boston, a startup stands out against the backdrop of established businesses, the staid medical profession, and academia. In a way, you feel a bit more respect for the risks you're taking with a new venture. You also feel just a tad crazy trying to start something brand new while you watch friends in other industries enjoy the country club living. That is good, because you have to be a little crazy to try starting a company. If you forget that, you might lull yourself into thinking this startup life is a safe bet, which would likely be the last thing to cross your mind before you flame out.
On the more practical side, Boston is where JB and I have the strongest network. After we made the decision to stay in Boston, JB found a great article describing the quantitative analysis of startups done at Google Ventures. Here's the best snippet:
Kraus says that analysts have discovered research that overturns some of Silicon Valley's most cherished bits of lore. Take that old idea that it pays to fail in the Valley: Wrong! Google Ventures' analysts found that first-time entrepreneurs with VC backing have a 15% chance of creating a successful company, while second-timers who had an auspicious debut see a 29% chance of repeating their achievement. By contrast, second-time entrepreneurs who failed the first time? They have only a 16% chance of success, in effect returning them to square one. "Failure doesn't teach you much," Kraus says with a shrug.Location, in fact, plays a larger role in determining an entrepreneur's odds than failure, according to the Google Ventures data team. A guy who founded a successful company in Boston but is planning to start his next firm in San Francisco isn't a sure bet. "He'll revert back to that 15% rate," Kraus says, "because he's out of his personal network and that limits how quickly he can scale up."
Nice to have a little statistical rationale, but it was really the speech in the board room that got us.
If you want to read more about Quantopian, please also check out the inaugural Quantopian blog post.