When researching hedge fund jobs I had heard of the Susquehanna International Group (Jeff Yass’s firm), but never knew their story until reading this article.

In addition to trading, SIG now is a major venture capital investor. They put some of the first money into ByteDance (TikTok parent company), and parlayed a few million dollar investment into a stake worth billions.

Yass, a libertarian, just got a new futures contract approved that is based on USA tax rates. As a way for people and firms to potentially hedge on Joe Biden (or a future president’s) potential tax increases.

Lots more interesting stuff in this detailed, well-written history.

EDIT: This article reminded me of another great gambler-turned-investor story from HN here: https://news.ycombinator.com/item?id=16985413