It’s podcast time again.
Yesterday, I grabbed StockTwits CEO John Melloy, formerly of CNBC and Bloomberg. I wanted his perspective on whether or not Bloomberg can be killed. It’s a topic that resurfaces every time a new technology enters the market that makes terminals seem useless — or terminally ill if you will. First it was the Internet, then it was the 2008 financial crisis, and now it’s a startup called Perzo that, according to those sensational folks over at Business Insider, is a “Bloomberg killer.” But there may be a ring of truth to that line of thinking. Perzo made the Journal on Sunday because finance firms, led by Goldman, want to buy, or invest in, the app to create an alternative system for secure messaging between traders. Personally, I love seeing banks piss cash away on technologies that at best attack a piece of the Bloomberg beast, but likely just flop and rot.
It further proves our thesis that as technology forces the unbundling of finance, Stocktwits fits nicely into the future. Price and Volume have been the two dimensions of the stock markets for a century…but a third ‘social’ dimension filled with rich, real-time sentiment is now upon us.
I enlisted John to give me an honest take on the subject. We got side-tracked, as per usual, and veered into a discussion on native ads and the future of StockTwits. And, at some point, I stepped on Jennifer’s puppy, so you should listen for that.
Give it a listen, if only to learn more about the guy entrusted to run StockTwits.