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Depends on the trade. If they sell before a stock collapses, that’s true. They better do it before all the other insiders do, though - and you better be first too. Like, microseconds quick, if your strategy is just to copy them 1:1. If they’re doing something multi-step it becomes a game where they have to be careful to preserve their information advantage, or it becomes worthless.
Shoot, it did occur to me that might not technically be the right word.
Still, even if you’re an engineer in the late 80’s, it seems like it would be obvious you need a way for disks to announce themselves in O(1) time. Was it just a limitation of interoperability between vendors or something?