Using paradigm-shifting

Computational technologies, to reshape the process, of drug discovery, core technologies, drug discovery.

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David E. Shaw, PhD

  • Adjunct Professor of Biochemistry and Molecular Biophysics (in Biomedical Informatics and Systems Biology)

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Credentials & experience.

David E. Shaw serves as chief scientist of D. E. Shaw Research, and as a senior research fellow and adjunct professor at Columbia University. He received his Ph.D. from Stanford University in 1980, served on the faculty of the Computer Science Department at Columbia until 1986, and founded the D. E. Shaw group in 1988. Since 2001, Dr. Shaw has devoted his time to hands-on research in the field of computational biochemistry.

Academic Appointments

Education & training.

  • PhD, Stanford University

Use of very long molecular dynamics simulations to study the structural changes in proteins associated with protein folding, protein-ligand binding, molecular signaling, ion transport, and other biologically significant processes.

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How a Misfit Group of Computer Geeks and English Majors Transformed Wall Street

In the 1980s, a quiet hedge fund located above a Marxist bookstore launched a revolution that would change finance (and give us Amazon).

de shaw research new york

In celebration of New York Magazine’s 50th anniversary, this series, which will continue through October 2018, tells the stories behind key moments that shaped the city’s culture.

In the summer of 1988, the hedge-fund manager Donald Sussman took a call from a former Columbia University computer-science professor wanting advice on his new Wall Street career.

“I’d like to come see you,” David Shaw, then 37 years old, told Sussman. Shaw had grown up in California, receiving a Ph.D. at Stanford University, then moved to New York to teach at Columbia before joining investment bank Morgan Stanley, which had a new secretive trading group that was using computer modeling. A neophyte in the ways of Wall Street, Shaw wanted Sussman, who founded the investment firm Paloma Partners, to look at an offer he had received from Morgan Stanley’s rival, Goldman Sachs.

Sussman’s career has been built on recognizing and financing hedge-fund talent, but he had never encountered anyone like David Shaw. The cerebral computer scientist would go on to become a pioneer in a revolution in finance that would computerize the industry, turn long-standing practices on their head, and replace a culture of tough-guy traders with brainy eccentrics — not just math and science geeks, but musicians and writers — wearing jeans and T-shirts.

A harbinger of the techies who would storm Wall Street in a decade, this new generation of hedge-fund introverts would replace the profanity-laced trading rooms of the 1980s with quiet libraries of algorithmic research in every corner of the markets. They would also launch an early email system and look into the prospect of online retailing, leading one of Shaw’s most ambitious employees to take the idea and run with it. Yes, the seeds of Jeff Bezos’s Amazon were planted at a New York City hedge fund.

Thirty years ago, all of that was yet to come. All Shaw told Sussman at the time was, “I think I can use technology to trade securities.”

Sussman told Shaw the Goldman offer he had received was inadequate. “If you’re confident this idea is going to work, you should come work for me,” Sussman told Shaw. The offer led to three days of sailing in Long Island Sound on Sussman’s 45-foot sloop with the financier, Shaw, and his partner, Peter Laventhol. The two men —without disclosing many details — “convinced me they believed they could generate models that would identify portfolios that would be market-neutral and able to outperform others,” Sussman remembers. In lay terms, the strategy would make a lot of money without taking much risk.

Hedge funds were still fairly primitive, and while they were already using mathematical formulas to capture small price disparities in such esoteric instruments as convertible bonds — then a dominant hedge-fund strategy — Shaw was planning to take the math to a whole new level.

Paloma Partners agreed to invest $30 million with D.E. Shaw. Since then, the company has grown into an estimated $47 billion firm, earning its investors more than $25 billion — as of the end of 2016, tied for the third biggest haul ever. It has made millionaires out of scores of employees and a multibillionaire out of Shaw, who stepped back in 2001 from day-to-day operation of the firm to start D.E. Shaw Research, which conducts computational biochemistry research in an effort to help cure cancer and other diseases. Shaw is estimated by Forbes to be worth $5.5 billion, and remains as elusive as ever: He declined to speak to New York for this article.

Meanwhile, the quantitative revolution D.E. Shaw helped spawn has become the biggest trend in hedge funds today, capturing some $500 billion of the industry’s more than $3 trillion in assets and dominating the top tier. Seven out of the top ten largest funds are considered “quants,” including D.E. Shaw itself. One of those seven quants, Two Sigma, was started by D.E. Shaw veterans. But the changes D.E. Shaw wrought haven’t just been felt in hedge funds. Shaw spit out orders accounting for an estimated 2 percent of the trading volume of the New York Stock Exchange in its early years, and thanks to it and other emerging quants, the NYSE was forced to automate. By the end of the 1990s, electronic stock exchanges were driving trading prices down, and by 2001, stocks began to be traded in penny increments, instead of eighths. These changes made it cheaper and easier for all investors to get into the game, leading to an explosion in trading volume.

From the beginning, D.E. Shaw was a quirky enterprise, even for a hedge fund. The first office was far from Wall Street, in a loftlike space above Revolution Books, a communist bookstore on 16th Street, in what was then a still fairly seedy Union Square. The office, about 1,200 square feet, was bare, with freshly painted walls and a tin ceiling. But it boasted two Sun Microsystem computers — the fastest, most sophisticated computers then in vogue on Wall Street. “He needed Ferraris; we bought him Ferraris,” says Sussman.

As Shaw sought to build his newfangled firm, he didn’t want to hire people steeped in Wall Street’s ways. Likewise, those who joined D.E. Shaw typically disdained the notion of working on the Street. “I thought to myself, No way ,” says Lou Salkind, remembering a call he received from Shaw in the summer of 1988 asking him if he would be interested in joining his start-up. Salkind was finishing his Ph.D. in computer science at New York University and on the hunt for a job, but Wall Street turned him off. “The year before, I’d been recruited by a few firms on Wall Street. I was skeptical I would like anything in finance.”

Lacking any other job offers, he agreed to meet with Shaw. After all, his hedge fund’s office was about ten blocks away from NYU. The two men went to lunch at nearby Union Square Cafe, where they got to talking about gambling, one of Salkind’s passions. Born in New York City, Salkind had learned to count cards at an early age and developed a horse-betting system at age 13. He had no idea such mathematical skills would come in handy at a hedge fund. “I had a blast,” he recalls.

When they returned to the office, Shaw began laying out his vision. “What I want to build here is a company at the intersection of technology and finance,” he told Salkind. As with Sussman, Shaw wouldn’t tell Salkind much more than that, but he did speculate that his firm might be able to replace Wall Street market makers: “They prepare to buy at the bid, hold, and sell at a higher price. The difference is what you try to capture. We could do a lot of this stuff automatically with computers,” he told the fellow computer scientist.

“Oh, you’re like a bookie. That’s the vig,” said Salkind, who was immediately sold on the job. Salkind, who retired in 2014, became one of the first employees of D.E. Shaw.

In the hedge fund’s early days, Sussman would visit the office weekly. “Once they started trading, they started making money out of the box,” he remembers. “These were very serious folks. I used to go and sit next to them watching them trade. They didn’t miss a goddamn thing,” he recalls.  “The atmosphere of the place was unlike any other investment firm. It was like going into the research room in the Library of Congress.”

In 1990, Anne Dinning, another NYU computer-science Ph.D. who knew Salkind from his days there, struck up a conversation with Shaw at a party at Salkind’s home. “I didn’t even know what a hedge fund was,” she recalls, but agreed to interview for a job at Shaw “as a lark,” and ended up joining, despite her initial desire to become an academic.

“My first job was to work on some forecast of Japanese equities,” she says. Dinning didn’t have to know anything about the companies or the Japanese stock market. The computer would figure it all out. In the early days, she would run 24-hour simulations, waking up every six hours in the night to check on their progress. Once the algorithms were ready for live trading, “I’d look at the P&L every day and see if it’s doing what I thought it would. It was like an experiment. And I could see the immediate results,” says Dinning. As the firm expanded, Dinning ended up running both the London and Tokyo offices of D.E. Shaw, and both she and Salkind became members of an unorthodox six-person executive committee that ran the firm in a surprisingly effective consensus manner after Shaw stepped back from its day-to-day management. (He is still involved in strategic decisions.)

While D.E. Shaw was minting money, David Shaw’s vision didn’t stop with creating a quantitative hedge fund. Technology, he knew, had the capacity to transform our everyday lives. As an academic, Shaw had already used the Arpanet, the precursor to the internet, to communicate with other scientists. That helped inspire one of the first free internet-based email systems, Juno. With equity capital from D.E. Shaw, the service launched in 1996, went public, and eventually merged with a competitor.

Free email was only one of Shaw’s early initiatives, explains Charles Ardai, who joined Shaw in 1991 with a degree in English (specifically, British Romantic poetry) from Columbia, one of the first of many unconventional hires who didn’t have a background in the hard sciences.

“He went to one of my co-workers and said, ‘I think people will buy things on the internet. They’re going to shop on the internet. What’s more, they’re not just going to shop.’ This, I swear to you, is what David said: ‘Not only will people shop, but when they buy something — let’s say they buy a pipe for watering their garden — they’re going to try a pipe, and they’re going to say, this pipe is good, or this pipe is bad, and they’re going to post reviews, and other people will see them and pick the right instead of the wrong pipe, because somebody else told them, I like this pipe. I don’t like that pipe.’”

Jeff Bezos, who had joined in 1990, was in charge of the online retailing project at D.E. Shaw. He became so enthused about the possibilities that he asked Shaw if he could take the idea and run with it on his own. Shaw agreed, and Amazon was soon born. (Shaw didn’t take a stake in the now-$620 billion company.)

Upon graduating from Columbia, Ardai says he had been so surprised to receive a letter from Shaw asking him to apply for a job that he thought “it must be a scam.” Soon after the 22-year-old joined, he was tasked with setting up Shaw’s recruiting department. “We’ve filled the company with everything from a chess master, to published writers, to stand-up comedians — people who really excel in one field or another — we had an Olympic-caliber fencer, and at one point we had a demolitions expert,” he says. One of D.E. Shaw’s best traders had tattoos all over his arms and couldn’t get hired anywhere on Wall Street. Another was a trombone player who eventually left to create a music program in the Bronx. (Ardai also has other interests; he is the founder and editor of Hard Case Crime, a line of pulp-style paperback crime novels.)

D.E. Shaw’s hiring process may have a far-flung reach, but by no means is it egalitarian. In fact, its recruiting letters once started with an assertion that the firm is “unapologetically elitist.” Once eyebrow-raising, the hedge fund’s hiring practices are no longer abnormal, as they have been adopted by giant tech firms like Google, and of course, Amazon, which even uses the same grading system as D.E. Shaw when interviewing candidates.

The casual dress code embraced by D.E. Shaw has also become de rigueur at tech giants. Though viewed as shocking in Shaw’s early years, such attire is also common at many New York hedge funds today. “One of the goals at D.E. Shaw has always been ‘let’s remove all of the unnecessary constraints,’ for example, why require people to wear neckties?” explains Ardai. The crew at D.E. Shaw was so disheveled that, according to Shaw lore, one disgusted white-shoe law firm moved out of a midtown office tower that the hedge fund occupied — in protest. These days, David Shaw, whose research project is housed across the street from the hedge fund, is often seen wearing a black T-shirt and cargo shorts — even in the middle of winter.

For all of its attempts at modesty, D.E. Shaw has come a ways from its years above a communist bookstore. With more than 1,000 employees, in 2010 the firm moved into new offices at 1166 Sixth Avenue (its fourth New York City home) whose austere reception area has a ceiling and walls covered with screens designed to look like computer punch cards.

In 2015, former Google executive chairman Eric Schmidt, a longtime investor in D.E. Shaw’s hedge funds, took a 20 percent stake in the firm, buying out bankrupt Lehman Brothers’ earlier investment. These days, there’s so much money chasing quants that the earlier strategy of betting on inefficiencies in public equity markets has become less profitable. Innovator D.E. Shaw has moved from its beginnings in equity arbitrage into other arenas like distressed debt and emerging markets, where it uses its quantitative techniques to help give it an edge while relying on humans, not computer models, to make trading decisions.

As the firm gets ready to celebrate its 30th anniversary, David Shaw has not disappointed his first investor, Donald Sussman, whose firm eventually had hundreds of millions of dollars invested with D.E. Shaw. “I never doubted him for a minute,” he says. “I never envisioned that D.E. Shaw would be $47 billion, but I did envision how David would change the world of finance.”

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Drug Discovery

D. E. Shaw Research conducts drug discovery programs both independently and in collaboration with other biopharmaceutical companies and research laboratories. All of our computational work is performed in‑house using a combination of our special‑purpose Anton supercomputers and high‑speed commodity hardware. We do not maintain in‑house “wet lab” facilities, but routinely design experiments for execution under our direction by various specialized contract research organizations (CROs).

Our drug discovery activities fall into three categories, each of which is enabled in part by the use of Anton‑based MD simulations, machine learning methods, and other advanced computational technologies:

  • Elucidating the molecular mechanisms of pathological biological processes
  • Identifying previously undiscovered biomolecular phenomena that may be relevant to the pathogenesis of potentially treatable human diseases
  • Determining how the binding of a given molecule at a given binding site modulates the function of a protein implicated in a given disease
  • Exploring at an atomic level of detail the effects of inherited or acquired mutations that are known to be associated with certain pathologies
  • Identifying new molecular strategies for pharmaceutical intervention
  • Discovering potentially druggable three‑dimensional protein configurations that have been inaccessible to experimental structure determination
  • Finding new, previously untargeted binding sites, including cryptic or ephemeral binding pockets and novel sites for allosteric modulation
  • Identifying ligand features that tend to stabilize or destabilize particular protein structures, or to promote or preclude particular interactions
  • Creating novel, precisely targeted, highly selective drugs
  • Using a combination of computational and experimental techniques to generate or screen small‑molecule compounds
  • Designing highly selective compounds that bind strongly to the target protein while avoiding toxicity‑inducing interactions with related proteins
  • Predicting and optimizing biopharmaceutical properties such as solubility and membrane permeability

Our research, technologies, and pharmaceutical expertise have each played an important role in bringing six drugs into clinical trials. We designed two of these drugs independently; the other four were discovered under a multi‑target collaboration and licensing agreement with Relay Therapeutics (NASDAQ: RLAY), a separate company of which D. E. Shaw Research was a co‑founder.

Our first independently developed drug, DES‑7114, is an orally administered medication that inhibits the ion channel protein Kv1.3 in a highly selective manner. Our preclinical studies demonstrated the efficacy of this first‑in‑class therapeutic in models of several chronic inflammatory and autoimmune diseases, including ulcerative colitis, Crohn’s disease and atopic dermatitis, and we successfully completed a Phase 1 clinical trial in healthy human volunteers in early 2022. In May 2022, we entered into an exclusive global license agreement with Eli Lilly for further clinical development and commercialization of our program of Kv1.3‑targeted therapeutics, including DES‑7114. Another drug we developed independently, DES‑9384, entered a Phase 1 clinical trial in 2023. DES‑9384 inhibits the ion channel TrpA1, a protein involved in various respiratory and inflammatory diseases (such as chronic cough and rheumatoid arthritis), and in various types of pain (such as arthritic pain, diabetic neuropathy, and chronic lower back pain).

The four drugs on which D. E. Shaw Research collaborated with Relay Therapeutics are all designed for the treatment of cancer. RLY‑4008 targets the receptor tyrosine kinase FGFR2, which is frequently altered in certain malignancies; RLY‑2608 is designed to be the first allosteric, pan‑mutant (H1047X, E542X and E545X) and isoform‑selective PI3Kα inhibitor; RLY‑5836 is a chemically distinct, pan‑mutant and selective PI3Kα inhibitor; and GDC‑1971 (formerly RLY‑1971) is designed to bind and stabilize the protein tyrosine phosphatase SHP2 in its inactive conformation. In December 2020, Relay entered into a worldwide license and collaboration agreement with Genentech for the development and commercialization of GDC‑1971. (To learn more about Relay, click here .)

D. E. Shaw Research welcomes the opportunity to collaborate with other pharmaceutical and biotech companies on the discovery and development of novel therapeutics.

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Fundamental Research Analyst Intern (New York) – Summer 2025

Join our investment analysis team in new york.

The D. E. Shaw group seeks talented individuals with unique perspectives to join our Fundamental Research Analyst Internship. Research analysts are vital to the firm’s fundamental investing groups. Analyst interns may have a passion for investing, but they may also be newcomers to the field and interested in solving complex, multifaceted problems. This is a ten-week program that will take place in New York and is expected to run from June to August 2025.

What you’ll do day-to-day

You’ll research, analyze, and perform due diligence on specific companies or industries to help the group assess potential investments. You’ll be tasked with analyzing data from a variety of sources, reading company reports, and staying up to date on current news and trends.

Who we’re looking for

  • Candidates with keen problem-solving skills who have a demonstrated interest in financial markets will excel in this role.
  • Successful interns will not only analyze new investment ideas but also contribute ideas of their own.
  • Preference will be given to students approaching their final year of full-time study toward a bachelor’s or advanced degree, though all are encouraged to apply.
  • We welcome applicants from all fields of study. No previous finance experience is necessary.
  • The expected monthly base salary for this position is $15,000. Our compensation package includes travel to and from the internship, overtime for all hours worked over 40 per week, a sign-on bonus, and choice of corporate housing or a summer housing allowance.

At the D. E. Shaw group, we believe the diversity of our employees is core to our strength and success. We are committed to supporting our people in work and in life, which is why we offer benefits such as a family planning and surrogacy program and a charitable gift match to all full-time employees.

Additionally, our staff-led affinity groups are pillars of our community, helping to celebrate diversity, promote leadership and development opportunities, and facilitate inclusive mentorship. Members and allies organize a wide range of educational and social programming, from expert talks to film festivals.

The members of the D. E. Shaw group do not discriminate in employment matters on the basis of race, color, religion, gender, gender identity, pregnancy, national origin, age, military service eligibility, veteran status, sexual orientation, marital status, disability, caregiver status, or any other category protected by law. We are committed to the principles of diversity, equity, and inclusion, and are eager to hear from individuals having a wide range of backgrounds and personal characteristics.

The applicable annual base salary or hourly rate paid to a successful applicant will be determined based on multiple factors, including without limitation the nature and extent of prior experience and educational background.

Candidates to positions in D. E. Shaw group offices in the European Union (any such candidate, an “EU Candidate”) should click here for our European Union Recruitment Personal Data Privacy Notice.

Candidates to positions in D. E. Shaw group offices in the United Kingdom (any such candidate, a “UK Candidate”) should click here for our United Kingdom Recruitment Personal Data Privacy Notice.

Candidates who are residents of California (any such candidate, a “California Resident”) should click here for our CCPA Recruitment Personal Information Privacy Notice.

The D. E. Shaw group may collect, use, hold, transfer, and process candidates’ resumes and associated information (including personal information contained therein) for purposes reasonably related to their application, including without limitation: review and management of employment applications and supporting materials; administration and management of offers to and communication with candidates; and administration, management, and improvement of the recruiting operations of the D. E. Shaw group; and/or where reasonably required in connection with a proposed sale, spin-out, reorganization, or outsourcing of all or some of the business of the D. E. Shaw group. The D. E. Shaw group will not use such information for purposes unrelated to the foregoing, such as direct marketing of third-party products to candidates, without candidate consent. As used herein, the term “personal information” is meant to broadly describe information identifying or relating to a specific individual; it is intended to encompass “personal data,” “sensitive personal data,” and “personally identifiable information” and similar terms, as those terms are defined by law in the jurisdictions in which the D. E. Shaw group operates.

The D. E. Shaw group may transfer such personal information within and outside the country and jurisdiction of the locations where the D. E. Shaw group maintains offices, to other D. E. Shaw group affiliates, to government and regulatory authorities, and to third parties which provide or may provide support and/or services to the D. E. Shaw group and for the purposes set forth above. The persons who may have access to this personal information are other employees of the D. E. Shaw group, in connection with the performance of their duties of employment, and the other parties listed above, in connection with the business of the D. E. Shaw group. (Of course, candidates will be considered for employment opportunities only in those countries in which they express interest.)

The D. E. Shaw group will use reasonable care to maintain the confidentiality of personal information (including appropriate technical measures against unauthorized or unlawful processing and against accidental loss or destruction of, or damage to, such information) and will retain such data as required by applicable law or regulation. Candidates have the right to request access to, and correction of, their personal information in accordance with applicable law; any such request should be submitted to [email protected] . Candidates who have submitted a resume to the D. E. Shaw group and do not wish to proceed with their applications should email [email protected] . Personal information of candidates who have been the subject of background checks may have been transferred in accordance with applicable regulations, and any concerns with such transfers should be submitted to [email protected] .

The D. E. Shaw group may retain candidates’ information for prospective recruiting activities, including sourcing candidates for employment opportunities and for organizing events with prospective candidates, in accordance with our internal data retention procedures. Candidates who do not agree to such future use should email [email protected] .

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David E. Shaw

David E. Shaw

David E. Shaw , Chief Scientist, D.E. Shaw Research, always believed that he would work as a scientific researcher; he never imagined the unexpected detour he would take into the world of finance, as a pioneer in quantita­tive trading. Shaw’s father was a theoretical plasma physicist, his mother a researcher in education, and his stepfather was an economist and professor at the University of California, Los Angeles (UCLA). “I was raised in Los Angeles, near UCLA, and my parents used to take me there so frequently that it was some time before I learned the difference between a university and a public park,” he recalls. “They looked pretty much the same to me, though the university had a wider range of interesting things going on, and was generally more entertaining.”

Shaw attended the University of California, San Diego, where he double-majored in mathematics and in applied physics and information science. He then earned his PhD from Stanford University in 1980. Shaw wrote a doctoral dissertation that provided a theoretical framework for a new class of computer architectures and algorithms that could be shown to offer asymp­totically superior performance for certain mathematical operations related to artificial intelligence and database management.

He joined the faculty of the Computer Science Department at Columbia University, conducting research on the design of massively parallel special-purpose supercomputers for various applications. “Although my thesis at Stanford hadn’t involved the construction of any actual hardware,” Shaw explains, “after arriving at Columbia, I received government funding to actu­ally start building one of the weird supercomputers I’d designed on paper.” The machine could not be constructed using standard components, so Shaw and his students designed their own integrated circuits, and then connected them to assemble a small-scale working prototype. They wrote code for the machine that implemented some of Shaw’s algorithms. “We were thrilled when the whole thing actually started working,” Shaw recalls.

Hooked on the idea of designing and building these special-purpose super­computers, Shaw saw that building full-scale machines would require a much larger budget than government grants could likely provide. He wrote a busi­ness plan for a proposed startup venture that would manufacture massively parallel supercomputers for commercial use, and began meeting with venture capitalists.

It quickly became clear to Shaw that this venture would not take off, but in the course of seeking funding, he had a chance meeting with executives from Morgan Stanley that led him on a career detour. “The executives I met with at Morgan Stanley told me that someone there had discovered a mathemati­cal technique for identifying underpriced stocks,” Shaw says. “A group of financial and technical people there had written some software that was using this technique to make investment decisions on a fully automated basis, and they were consistently earning an unusually high rate of return.” Shaw was intrigued that they were using quantitative and computational methods in the stock market, “and I couldn’t help wondering whether state of the art methods that were being explored in academia could be used to discover other investment opportunities that weren’t visible to the human eye,” Shaw, explains. Though he had no experience in finance, in June 1986, Shaw shaved his beard, put on a suit, and left academia for a stint on Wall Street.

In 1988, Shaw started his own investment firm, D.E. Shaw & Co., which initially focused ex­clusively on the application of quantitative and computational methods to investment manage­ment. For the first few years, Shaw was directly involved in much of the firm’s research, but as time went on and the company expanded, Shaw found himself spending less time on research and more on management. “I could feel my scientific and mathematical skills beginning to atrophy,” he says, “and I found myself missing the days when I solved technical puzzles for a living.”

Shaw wanted to return to full-time research, and hoped to contribute to the search for new, poten­tially life-saving drugs. He also wanted to design algorithms and machine architectures, which he had always enjoyed. His sister, Suzanne Pfeffer, professor of biochemistry at Stanford University, brought Shaw by the office of Michael Levitt , who was sitting at his computer running a molecular dynamics (MD) simulation. Shaw had never seen one before. “I thought it was incredibly cool,” he says. He later connected with Rich Friesner , who tutored him on quantum chemistry, statistical mechanics, protein structure, and other relevant subjects. “Rich believed that MD simulations had the potential to provide important insights into the behavior of biologically significant molecules, but were so computationally demanding that many biological processes couldn’t be simulated long enough to yield such insights,” Shaw says. “I convinced myself that it might be possible to design special-purpose hardware and algorithms that could simulate the dynamics of biological macromolecules over periods a couple orders of magnitude longer than had been feasible on con­ventional supercomputers.”

With a research direction in mind, he founded D.E. Shaw Research in 2001, and put together an interdisciplinary team of researchers. “Since then, we’ve been working together on the design of novel algorithms and machine architectures for high-speed molecular dynamics simulation, and on the application of such simulations to biological research and computer-aided drug design,” Shaw explains. “Our research focuses on the structural changes associated with protein fold­ing, protein-ligand binding, molecular signaling, ion transport, and other biologically significant processes. We don’t have our own wet lab, but we often collaborate with experimentalists, both to validate the phenomena we observe in our simula­tions and to exchange hypotheses and ideas for further studies.”

One such experimentalist is Arthur Horwich , professor of genetics at Yale University School of Medicine, who met Shaw after the latter visited Yale for a seminar. The two discussed the pos­sibility of working together on simulating the binding of a non-native polypeptide chain to the hydrophobic lining of a ring of GroEL. “That [first] conversation was just electrical,” Horwich says. “He immediately saw what we wished to do and suggested I come down to D.E. Shaw Research in New York for a day, to chat with his team and consider all of the aspects of such a simulation. […]We realized that this experiment was a little beyond reach, but we had a lot of fun together considering this. David is one of the most thoughtful and generous people I have ever met.”

Walter Englander , professor of biochemistry, bio­physics, and medical science at the University of Pennsylvania and one of Shaw’s colleagues in the protein folding field, agrees with this assessment, “He is very smart, focused—but self-effacing— generous, hard-working, eager to give credit rather than take it. [Shaw and his group] freely share their results and make their detailed calculations available to whoever asks,” he says.

Shaw has found great success by applying the skills and knowledge acquired in one field to others, approaching problems from a fresh vantage point. He recommends that young scientists consider an interdisciplinary path. “Milking an existing research paradigm to extend the frontiers of an existing research area can be important and grati­fying,” Shaw says, “but the juiciest, lowest-hanging fruit is often found in interstitial research areas that haven’t yet been explored, and in the use of techniques and technologies borrowed from other fields. I also recommend flossing your teeth. You’ll thank me when you’re older.”

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D.E. Shaw Group

Fundamental research analyst intern (new york)-summer 2025.

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The D. E. Shaw group seeks talented individuals with unique perspectives to join our Fundamental Research Analyst Internship. Research analysts are vital to the firm’s fundamental investing groups. Analyst interns may have a passion for investing, but they may also be newcomers to the field and interested in solving complex, multifaceted problems. This is a ten-week program that will take place in New York and is expected to run from June to August 2025.

What you’ll do day-to-day

You’ll research, analyze, and perform due diligence on specific companies or industries to help the group assess potential investments. You’ll be tasked with analyzing data from a variety of sources, reading company reports, and staying up to date on current news and trends.

Who we’re looking for

  • Candidates with keen problem-solving skills who have a demonstrated interest in financial markets will excel in this role.
  • Successful interns will not only analyze new investment ideas but also contribute ideas of their own.
  • Preference will be given to students approaching their final year of full-time study toward a bachelor’s or advanced degree, though all are encouraged to apply.
  • We welcome applicants from all fields of study. No previous finance experience is necessary.
  • The expected monthly base salary for this position is $15,000. Our compensation package includes travel to and from the internship, overtime for all hours worked over 40 per week, a sign-on bonus, and choice of corporate housing or a summer housing allowance.

At the D. E. Shaw group, we believe the diversity of our employees is core to our strength and success. We are committed to supporting our people in work and in life, which is why we offer benefits such as a family planning and surrogacy program and a charitable gift match to all full-time employees.

Additionally, our staff-led affinity groups are pillars of our community, helping to celebrate diversity, promote leadership and development opportunities, and facilitate inclusive mentorship. Members and allies organize a wide range of educational and social programming, from expert talks to film festivals.

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What you Get

$1.5 Million Homes in Paris

An industrial loft in La Villette, a former workshop in Sainte-Avoye and an updated apartment with 19th-century touches on Île Saint-Louis.

By Alison Gregor

  • Espaces Atypiques

La Villette | €1.39 million ($1.5 million)

A two-bedroom, two-bath industrial loft entered through a private courtyard near the canal de l’ourcq.

This two-bedroom loft is in the vibrant La Villette district, formerly a neighborhood of slaughterhouses in northeast Paris that has been undergoing redevelopment since the 1980s. The 136-acre La Villette Park, with concert halls, museums, theaters, event spaces and other cultural venues, is less than 10 minutes away on foot. A comparable walk in the other direction arrives at the Bassin de la Villette, the largest artificial lake in Paris, and a bohemian area offering shops, restaurants and bars, boating and other attractions.

There are cafes, groceries, shops and parking garages in the immediate area. Metro stops in the area include Crimée, Ourcq and Corentin Cariou, with the trip to central Paris typically taking less than 30 minutes.

Size: 1,959 square feet

Price per square foot: €710 ($777)

Indoors: This commercially zoned loft has the feel of a townhouse on three levels. The front door opens to a landing overlooking a light-filled living area with 18-foot industrial-style glass ceilings. The space has a slightly raw feel with metal beams, skylights and exposed stonework.

From the landing, a small staircase ascends to a mezzanine bedroom with floor-to-ceiling glass windows overlooking the living area. Beneath the bedroom is a large open kitchen with white cabinetry and a center island.

Opposite the main entrance, a wood-and-metal staircase climbs to a second bedroom with large interior-facing windows and an en suite shower room with separate toilet, all cantilevered over a library and office space.

The home’s lowest level, partially visible through a glazed floor, has a laundry room, cinema room and another large room that could serve as a primary bedroom with adjoining bathroom.

Outdoor space: The loft, which is in the backyard of an early 20th-century building, is accessed through a private 129-square-foot courtyard.

Taxes: €2,067 ($2,261) a year, plus annual co-ownership fees of €3,560 ($3,901).

Contact: Magaly Leygnac, Espaces Atypiques, 011-33-06-63-16-83-32, espaces-atypiques.com

  • Patrice Besse

Sainte-Avoye | €1.39 million ($1.5 million)

A former workshop and gallery space with two bedrooms and two bathrooms, on a peaceful street in the marais.

This loft apartment is in the colorful Sainte-Avoye neighborhood, a hub for artists and art dealers in the Marais district. Attractions include the half-acre Jardin d’Anne Frank and various museums, including the Museum of the Art and History of Judaism. The quirky Passage de L’Ancre is a hidden pedestrian thoroughfare.

The Marais had deteriorated but was revived in recent years, and now is among the more fashionable areas of Paris, with many buildings of historic and architectural significance. The district has plenty of restaurants, shops, groceries, parking garages and other amenities.

Close metro stops include Rambuteau, Arts et Métiers and Étienne Marcel, with all the amenities of central Paris minutes away.

Size: 1,112 square feet

Price per square foot: €1,250 ($1,368)

Indoors: This loft was once a workshop and then a gallery. Notable is an industrial-style floor-to-ceiling glass wall housing the main entrance door, which opens to a landing overlooking a sizable living space with 13-foot ceilings. A wall of exposed stone, old timber beams, metal I-beams and a column add to the space’s slightly gritty feel.

A kitchen in a contemporary marble design opens to the main living area. All floors are polished concrete. Beyond the kitchen, a space topped with a slanted glass roof is used as a library and office. A workshop-style glass partition separates it from a bedroom adjacent to a bathroom.

From the entrance landing, concrete stairs ascend to a mezzanine floor with two open sides running the length of the apartment. The mezzanine floor has an open-sided bedroom with en suite bathroom and a walk-in wardrobe large enough to be converted to a third bedroom.

Outdoor space: The apartment, in a building with nine units, is on a calm, private street.

Taxes: €1,035 ($1,130) a year, plus annual proportionate expenses of €6,000 ($6,573)

Contact: Renaud Goalabré, Patrice Besse, 011-33-1-42-84-80-85, patrice-besse.co.uk

  • Prestige Property Group

Île Saint-Louis | €1.395 million ($1.5 million)

A two-bedroom, two-bath apartment in a historic building on île saint-louis.

This apartment is on Île Saint-Louis, one of three islands in the Seine River in Paris. An elegant representation of 17th-century classical architecture, Île Saint-Louis has a tranquil neighborhood feel in the midst of the city’s bustle, and easy access to many Paris offerings. Four bridges connect the island with the Right and Left Banks, and there’s a footbridge to the larger Île de la Cité island.

Landmarks include 17th-century urban mansions, such as Hôtel Lambert and Hôtel de Lauzun, and the Saint Louis en L’Île church. There are cafes, restaurants, bars, groceries and other shops, including the famous Paris ice cream parlor, Berthillon.

Among nearby metro stops are the mainland’s Pont Marie and Sully-Morland, along with Cité on the Île de la Cité.

Size: 710 square feet

Price per square foot: €1,965 ($2,149)

Indoors: This apartment has 19th-century touches with its vintage brickwork, wood ceiling beams and parquet floors. It also has been modernized and includes double-glazed windows, new radiators and air-conditioning.

A small entrance hall leads to an airy living area with a wall of French windows with stunning views. Each end of the room has a fireplace with a marble surround. The fully equipped open kitchen has teal cabinetry and a brick backsplash.

Off the main living area are the two bedrooms, which have exposed stonework, vintage bricks and parquet floors. One has an en suite bathroom and the other an en suite shower. There is a lavatory off the entrance hall. The apartment has a secondary entrance providing access to one of the bedrooms.

Outdoor space: Five French windows open to Juliet balconies with ornate railings.

Taxes: €1,063 ($1,163) a year

Contact: Rebecca Braunholtz, Prestige Property Group, 011-44-19-3581-7188, prestigeproperty.co.uk

For weekly email updates on residential real estate news, sign up here .

How to Buy a Home

With careful research and determination, the keys to that dream house can be yours..

Start by organizing your finances  and asking the right questions: Is homeownership right for you ? What are the best markets for first-time buyers ? And can you afford to buy a house ?

From buying real estate with friends  and family  to owning a house before finding a spouse , people are exploring creative paths to homeownership  that also make financial sense.

For most, the down payment is the primary hurdle keeping them from buying a home, but you may have options .

Are you confused by all the new mortgage gimmicks being offered by lenders? Don’t worry, our guide can help .

Buying a vacant lot offers the chance to build a home on your own terms. Here is what to know if you choose that option .

To those looking to buy property as an investment, a tenant-occupied apartment can be appealing. Weigh the pros and cons carefully .

Bad credit? No savings? There are still ways for you to buy a home .

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COMMENTS

  1. D. E. Shaw Research

    Shaw Research develops and uses paradigm-shifting computational technologies to design precisely targeted new therapeutics for the treatment of disease. Core Technologies; Research; Drug Discovery ... D. E. Shaw Research 120 W. 45th St., 39th Fl. New York, NY 10036. [email protected].

  2. D. E. Shaw Research

    Website. www .deshawresearch .com. D. E. Shaw Research (DESRES) is a privately held biochemistry research company based in New York City. Under the scientific direction of David E. Shaw, the group's chief scientist, D. E. Shaw Research develops technologies for molecular dynamics simulations (including Anton, [1] [2] a massively parallel ...

  3. The D. E. Shaw Group

    Who We Are. Founded in 1988 over a small bookstore in downtown New York City, the D. E. Shaw group began with six employees and $28 million in capital and quickly became a pioneer in computational finance. In the early days of exposed pipes and extension cords, tripping on a cable could take out our whole trading system. Today, the firm has ...

  4. D. E. Shaw Research

    D. E. Shaw Research | 22,952 followers on LinkedIn. D. E. Shaw Research (DESRES) is a New York-based drug discovery and computational biochemistry research company developing and using advanced ...

  5. D. E. Shaw & Co.

    2,500+ (2022) [4] Website. deshaw .com. D. E. Shaw & Co., L.P. is a multinational investment management firm founded in 1988 by David E. Shaw and based in New York City. The company is known for developing complicated mathematical models and sophisticated computer programs to exploit anomalies in the financial market.

  6. David E. Shaw, PhD

    David E. Shaw serves as chief scientist of D. E. Shaw Research, and as a senior research fellow and adjunct professor at Columbia University. He received his Ph.D. from Stanford University in 1980, served on the faculty of the Computer Science Department at Columbia until 1986, and founded the D. E. Shaw group in 1988. Since 2001, Dr. Shaw has ...

  7. DE Shaw: inside Manhattan's 'Silicon Valley' hedge fund

    Little known outside investing's arcane corners, DE Shaw is the fourth-highest grossing hedge fund group of all time, having made over $29bn for its investors since those early days near Union ...

  8. The D. E. Shaw Group

    The D. E. Shaw group is a global investment and technology development firm founded in 1988 with offices in North America, Europe, and Asia. The firm has earned an international reputation for successful investing based on innovation, careful risk management, and the quality and depth of its staff.

  9. D.E. Shaw, the First Great Quant Hedge Fund

    The casual dress code embraced by D.E. Shaw has also become de rigueur at tech giants. Though viewed as shocking in Shaw's early years, such attire is also common at many New York hedge funds today.

  10. D. E. Shaw Research: Drug Discovery

    D. E. Shaw Research conducts drug discovery programs both independently and in collaboration with other biopharmaceutical companies and research laboratories. All of our computational work is performed in‑house using a combination of our special‑purpose Anton supercomputers and high‑speed commodity hardware.

  11. D. E. Shaw Research Licenses First-in-Class Therapeutic for

    NEW YORK, June 13, 2022 /PRNewswire/ -- D. E. Shaw Research (DESRES) today announced that it has entered into an exclusive global license agreement with Eli Lilly and Company (Lilly) for the ...

  12. The D. E. Shaw Group

    Founded in 1988 over a small bookstore in downtown New York City, the D. E. Shaw group began with six employees and $28 million in capital and quickly became a pioneer in computational finance. In ...

  13. Hedge Fund D.E. Shaw Is Shifting HQ to Manhattan West Tower

    This article is for subscribers only. Hedge fund titan D.E. Shaw & Co. is relocating its Midtown headquarters to the far west side of Manhattan. The firm has signed a lease at Two Manhattan West ...

  14. The D. E. Shaw Group

    Research analysts are vital to the firm's fundamental investing groups. Analyst interns may have a passion for investing, but they may also be newcomers to the field and interested in solving complex, multifaceted problems. This is a ten-week program that will take place in New York and is expected to run from June to August 2025.

  15. D. E. Shaw Research: Jobs

    Computational Chemistry and Biology Opportunities at D. E. Shaw Research. D. E. Shaw Research. New York, United States $300,000.00 - $475,000.00 2 weeks ago. See all jobs.

  16. DE Shaw taps academic to set up new machine learning group

    DE Shaw, the $50bn quantitative hedge fund founded above a Marxist bookshop, has hired a prominent academic in the field of artificial intelligence to set up a new research group dedicated to ...

  17. David E. Shaw

    David E. Shaw, Chief Scientist, D.E. Shaw Research, always believed that he would work as a scientific researcher; he never imagined the unexpected detour he would take into the world of finance, as a pioneer in quantita­tive trading. Shaw's father was a theoretical plasma physicist, his mother a researcher in education, and his stepfather was an economist and professor at the University of ...

  18. Fundamental Research Analyst Intern (New York)-Summer 2025

    Research analysts are vital to the firm's fundamental investing groups. Analyst interns may have a passion for investing, but they may also be newcomers to the field and interested in solving complex, multifaceted problems. This is a ten-week program that will take place in New York and is expected to run from June to August 2025.

  19. Here are college majors with the highest and lowest rate of return

    A recent study published in the American Educational Research Journal found that engineering and computer science majors provide the highest returns in lifetime earnings, followed by business ...

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    Dr. Amodei's company, Anthropic, builds large language models, or L.L.M.s, the new kind of technology that drives online chatbots.When he testified before Congress, he argued that the technology ...

  21. $1.5 Million Homes in Paris

    Outdoor space: The loft, which is in the backyard of an early 20th-century building, is accessed through a private 129-square-foot courtyard. Taxes: €2,067 ($2,261) a year, plus annual co ...