Robin Hood Asset Management

Discussion

ECSA Team:

"Our pilot in hacking finance to create new social and financial forms was Robin Hood Asset Management — a hedge fund with a twist. In fact, three twists. First, it is a cooperative. Individuals who buy shares become members and decide how the coop is run. One member, one vote. Second, per the Robin Hood principle, part of the profit generated by the fund is invested into projects building the commons. Third, the money put into the fund is managed by an algorithm called “the Parasite”. She logs into the brains of the bankers at Wall Street, deconstructs them into databanks, and uses big data analysis and structured finance to share their most important means of production to everyone.

By creating in our portfolio a synthetic replica of the emerging conventions of the financial elite at the market, we create a simulacrum, a monstrous false power, whose repetition yields a difference in kind. A bad copy of the financial asset accumulation model opens suddenly into something else. We copy the most important means of production of the fat cats at Wall Street — their knowledge, relations, positions — and use them in a way that does not belong to the orthodox economic space. This is what we call minor asset management.

Robin Hood, as an umbrella term, is a project towards giving people access to the operating system of finance, to open source finance. At the moment it is in the process of transitioning its member and share management on the Ethereum blockchain, which makes possible an effective secondary market for coop shares and the deployment of new algorithms, in addition to the Parasite. The new one in development is a shorting target identification algorithm called the “Sting”. Moreover, members can start managing and curating commons-oriented projects directly, without the need for overarching decisions by the whole coop. This is the vision for Robin Hood: to merge and re-engineer the financial and the social so that new forms become possible."

(https://medium.com/economic-spacing/from-robin-hood-to-economic-space-agency-4516e8c01024)