Pretty much in a nutshell his exposition. For me, my interest lies in the economic value of information, and one way in which information gains value is by being 'timely.'
When explaining to folks I often use the example that the 15 minute delayed stock price feed (aka 'ticker') is less valuable than the real time stock 'ticker'. This is intuitive for many folks but the OP's work shows the math behind that intuition.
Stock price feeds are generally used by algorithms to anticipate the market price of a commodity and act when there is a delta between that and reality. They 'manufacture' new information by taking that real time stock feed and identifying trends. Their market value then becomes a function of their ability to identify trends sooner and thus allow for capturing the most value between the current price and the correct price.
When explaining to folks I often use the example that the 15 minute delayed stock price feed (aka 'ticker') is less valuable than the real time stock 'ticker'. This is intuitive for many folks but the OP's work shows the math behind that intuition.
Stock price feeds are generally used by algorithms to anticipate the market price of a commodity and act when there is a delta between that and reality. They 'manufacture' new information by taking that real time stock feed and identifying trends. Their market value then becomes a function of their ability to identify trends sooner and thus allow for capturing the most value between the current price and the correct price.