CIA-Backed Startup Builds ‘Bots For The Next Generation Of ETFs
![CIA-Backed Startup Builds 'Bots For The Next Generation Of ETFs](http://moneyquestioner.co.uk/wp-content/uploads/2019/03/CIA-2-300x188.png)
The Central Intelligence Agency was one of the early backers of an AI startup company called Kensho Technologies, once focused on analyzing North Korean missile launches, earthquakes and elections – at least, until 2014. That’s when John van Moyland joined the company and its focus pivoted to finance, according to a new Bloomberg article.
S&P Global wound up buying the company last year and is now using it for yet another cause: developing the next generation of index funds. According to van Moyland, who’s title is now “managing director and global head of S&P Kensho Indices”, machines can design better indexes used as underlying products for passive investment vehicles like ETFs, which among other passive investment instruments, manage about $7.3 trillion in the U.S.
More on ZeroHedge
Analysis to follow…