I think there were too many people in in it and he knew he couldn't defeat them and that doing so world cause more destruction without changing the outcome. Tactical retreat? I'm trying to be generous in my interpretation because generally I think he did a good job.
The feedback loops lend themselves to social constructivism meaning that essentially things being true simply because they are true. This is the case for stocks s as you illustrate their valuations are interconnected and attached to the arbitrary starting state they were in prior to the establishment of automated trading
Was going to also add that SEO was causing this way before the OP realizes on the proposed timeline. As of about 1998-1999 all websites were being funneled based upon their page rank which was essentially the degree to which they contributed to this feedback.
A couple of observations related to factors that cause feedback loops without the need for central intervention:
- clearly online censorship is occurring which restricts the marketplace of ideas
- crowd funding causes convergence of topics and behaviors. Why do all the young women now want to show their buttholes and sell their farts?
- ad supported models tends towards hyperbolic content. Even independent news sites went the way of Buzzfeed.
- most algorithms and models are only good at predicting things that have already happened. Endless cycles of recommendations causing recommendations to occur.
This is great 👍 covers way more than I'd seen before esp related to white star lines finances