99.99% of the nights, this company could get by without a few $M of software to automate these processes and protect it from extreme risks. However, it couldn't survive even a single night of failure. It's like a player in an online poker tournament who makes extreme and unnecessary all-in bets to steal pots: The strategy works really well until the last time you try it.
I wonder if management/investors were really aware of the risk profile they had implicitly accepted.
99.99% of the nights, this company could get by without a few $M of software to automate these processes and protect it from extreme risks. However, it couldn't survive even a single night of failure. It's like a player in an online poker tournament who makes extreme and unnecessary all-in bets to steal pots: The strategy works really well until the last time you try it.
I wonder if management/investors were really aware of the risk profile they had implicitly accepted.