PLEASE NOTE: This is a summary of the book and NOT the original book. Flash Boys by Michael Lewis - A 30-Minute Instaread Summary Inside this Instaread Summary: • Overview of the entire book • Introduction to the important people in the book • Summary and analysis of all the chapters in the book • Key Takeaways of the book • A Reader's Perspective Preview of this summary: Chapter 1 In 2007, stock brokers were frustrated by the varying speed of communication between the Chicago Mercantile Exchange and the data center beside the Nasdaq stock exchange in Carteret, New Jersey. A former stock broker, Dan Spivey, researched the situation and discovered that most fiber optics buried between the two cities followed train tracks and major cities. The problem lay in the fact that this route was not straight, as was ideal for speed of communication, but made many twists and turns. Spivey studied maps and found a route following small paved roads and dirt roads that were straighter. Spivey traveled the route with a construction man, looking for obstacles. They were unable to find any. Spivey founded a company with Jim Barskdale, the former CEO of Netscape Communications, called Spread Networks. Through this company they began the complicated process of laying the fiber. This included more than four hundred deals that had to be arranged with the many towns the route transected. Spivey contacted construction engineer Steve Williams, and asked him to supervise the laying of fifty miles of fiber, starting in Cleveland. Williams did such a good job, Spivey and Barskdale hired him to supervise the complete installation. Williams and Spivey disagreed on the route on many occasions. Spivey was frustrated with Williams’ attempts to avoid obstacles by deviating from the route and Williams did not understand why the straight route was so important. A full year after Spread began burying the fiber, their project remained a secret. Even their workers were kept in the dark to protect the project from being blown out of the water by unwanted competition. Then it was time to begin selling the line to Wall Street. Unfortunately, it was difficult to prove the value of their product, let alone prove that it existed. To solve this, Spivey went to sales meetings with a large map that showed the route of the fiber as well as pictures of the amplifiers built inside maximum security bunkers along the route. The reception was not always good. Many disliked the language of the contract Spread wanted them to sign, especially the language that kept the companies from sharing the line with their clients. Spread ran into multiple problems finishing their project. One held them up for some time while they struggled to find a way to bury cable under a river. They eventually found a tunnel that worked perfectly for their purposes. Another was the hostility they faced in a small town in Pennsylvania when they attempted to get permission to dig under a parking lot that blocked their route.....
flash boys by michael lewis a 30 minute summary
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The Big Short by Michael Lewis | Book Summary Sometimes our minds wonder if what is happening in the world is actually right even though we are often convinced that nothing outright evil might be taking place. Sometimes we have dreams of becoming the people we see in the media who seem like paragons of success or gods of the corporate world. Though ignorance may be bliss or what we do not know may not harm us directly, sometimes a small revelation into some issues and matters in the community or a nation goes a long way into adjusting our attitudes and sails of life. It may become a reference point to use in raising our children, and with the wisdom thereof, equip them with the truth so that they may also endeavour to come up with solutions when their time comes. As Michael Lewis writes, he hopes that college students trying to decide what to do with their lives might read it and decide that it's silly to phony it up, and abandon their passions or even their faint interests, to become financiers." He hoped that some bright kid at Ohio State University who really wanted to be an oceanographer would read his book, spurn the offer from Goldman Sachs, and set out to sea.Many things have taken place in the past, and others continue to occur even as you venture to consume this book in a jiffy. They said that knowledge and only the right kind of knowledge is power. Wisdom springs forth from the beginning of experience, and the knowledge of this experience makes the wisdom far greater than one can imagine. Michael Lewis' book, The Big Short, comes with knowledge of historical events inside Wall Street. It comes bundled with real life experiences of business persons, companies, co-operations, organizations, and individuals. The book reveals what the world would have never known, or even heard. They seem like memoirs, memories of tycoons losing huge amounts of money, fraudsters taking advantage of the poor, and companies twisting their accounts for their own gain. Herein you find evil, crime, and tales of men who tried to fight the same with a weak yet formidable determination. Here Is A Preview Of What You'll Learn... A Secret Origin Story In the Land of the Blind How Can a Guy Who Can't Speak English Lie? How to Harvest a Migrant Worker Accidental Capitalists Spider-Man at the Venetian The Great Treasure Hunt The Long Quiet A Death of Interest Two Men in a Boat The Book at a Glance Conclusion Final Thoughts Now What? Scroll Up and Click on "buy now with 1-Click" to Download Your Copy Right Now ************Tags: the big short, the big short book, michael lewis, michael lewis books, the big short kindle, the big short michael lewis, doomsday machine