I think we are going to have very different views as to what the terms "value" and "everyone" mean
because HFT's provide no value at all to the everyday person on mainstreet just looking get by and maybe put 10% of their wages into the stock market for retirement.
if by everyone you mean "the top 1%" and by value you mean "make lots of money at the expense of mainstreet investors" then sure.
If you participate in the stock market at all, you indirectly benefit from HFTs lowering the bid/ask spread and therefore getting a better price. Now matter how insignificant, but the benefit is there.
Of course if we're dealing in millions, not thousands, then the benefit is more pronounced, but a couple of cents here or there still make a difference.
At the very worst HFT firms are a net neutral.
> "make lots of money at the expense of mainstreet investors"
Can you elaborate on this further? I don't see how HFTs make money at the expense of mainstreet investors. HFTs make money on the expense of inefficiencies, therefore making the markets more efficient.