4 ms·

Regarding the amount he makes from the terminals and service, I don't doubt that's the major haul of any given year, year after year. Not coincidentally, that'

Regarding the amount he makes from the terminals and service, I don't doubt that's the major haul of any given year, year after year. Not coincidentally, that's why I take his pontificating about finance and economics with a grain of salt - he was a tech savvy info delivery man who lucked into trapping people into a dog-shit ugly, expensive, and industry ubiquitous device. It's along the lines of "I'll view Google as more than just an extremely successful ad agency when they make money on their other projects" which might not seem fair, but cuts through a lot of the enigma-like perspectives regarding tech firms.

gohrt 10y ago
You can't only consider the ads, you have to consider what makes the ads valuable, which includes whatever brings the eyeballs and walking fingers in. For example: * Magazines provide content in their subject area. * Yahoo: provides content apps and content.
- 6stringmerc 10y ago
  So, you mean like the concept of a "loss leader" like when Best Buy sells new release under cost (ex. $9.99) then wants to sell the same customer a brand new $3,000 4K HDTV?
dontscale 10y ago
In that case, you'd really enjoy Charlie Munger's parable about the Shoebutton Prince. The story goes that one of Charlie's distant relatives had cornered some part of the 1920's shoebutton market. Back then, shoebuttons were smallish ornaments you put on your shoes. The success entitled the prince to pontificate on any and all things in unlimited fashion--especially those outside the realm of shoebuttons.
- 6stringmerc 10y ago
  I do believe I would enjoy that parable because I think it happens a lot in the US culture. You know like listening to, ahem, certain anti-vaccine people simply because they were in a nudie magazine and on the TV for a while.
whatok 10y ago
I don't agree with a lot of his political views but I'll trust him on the finance and economics front over a majority of politicians given that he worked for Salomon Brothers and arguably was an extremely well-accomplished mayor. Bloomberg is arguably a technology company delivering a product for the finance sector but he absolutely had the prerequisite domain knowledge to launch the company and propel it into what it is today.
- deleted 10y ago
  [deleted]
- 6stringmerc 10y ago
  Oh I agree regarding the business savvy and intelligence to put out a successful product and maintain a market share. The guy did an absolutely fabulous job of it, and I'm not sure it could be replicated. Although, having worked in municipal finance on the Street for a couple years (somewhat back office, somewhat deal support) I can honestly say that a lot of the systems and information in certain sectors is pretty dated. As in, not very good by modern standards. The MSRB is trying with EMMA - but because there's no fiscal / competitive reward like in Bloomberg's info providing case, rather it's for regulatory and market stability - but a lot of stuff was still pretty old school. I've designed an "Information as a Service" program targeting some of the most lucrative sectors in public finance (construction, transportation, education, etc) but still haven't mastered the design / handshakes with needed sources (ex. Thompson Reuters) to really call it ready to debut. Another issue is finding the right price point - Bloomberg's got a racket going, I'd just want to hit a good spot where most businesses could afford access, or put it at a value premium where having the information before others (arranged/conditioned by the system) would be worth larger expense. Eh, good times!
eumoria 10y ago
according to wikipedia roughly 315,000 so that's 7.9 billion dollars a year. what a fucking racket... holy moly

gohrt 10y ago

You can't only consider the ads, you have to consider what makes the ads valuable, which includes whatever brings the eyeballs and walking fingers in. For example: * Magazines provide content in their subject area. * Yahoo: provides content apps and content.

6stringmerc 10y ago
So, you mean like the concept of a "loss leader" like when Best Buy sells new release under cost (ex. $9.99) then wants to sell the same customer a brand new $3,000 4K HDTV?

dontscale 10y ago

In that case, you'd really enjoy Charlie Munger's parable about the Shoebutton Prince. The story goes that one of Charlie's distant relatives had cornered some part of the 1920's shoebutton market. Back then, shoebuttons were smallish ornaments you put on your shoes. The success entitled the prince to pontificate on any and all things in unlimited fashion--especially those outside the realm of shoebuttons.

6stringmerc 10y ago
I do believe I would enjoy that parable because I think it happens a lot in the US culture. You know like listening to, ahem, certain anti-vaccine people simply because they were in a nudie magazine and on the TV for a while.

whatok 10y ago

I don't agree with a lot of his political views but I'll trust him on the finance and economics front over a majority of politicians given that he worked for Salomon Brothers and arguably was an extremely well-accomplished mayor. Bloomberg is arguably a technology company delivering a product for the finance sector but he absolutely had the prerequisite domain knowledge to launch the company and propel it into what it is today.

deleted 10y ago
[deleted]
6stringmerc 10y ago
Oh I agree regarding the business savvy and intelligence to put out a successful product and maintain a market share. The guy did an absolutely fabulous job of it, and I'm not sure it could be replicated. Although, having worked in municipal finance on the Street for a couple years (somewhat back office, somewhat deal support) I can honestly say that a lot of the systems and information in certain sectors is pretty dated. As in, not very good by modern standards. The MSRB is trying with EMMA - but because there's no fiscal / competitive reward like in Bloomberg's info providing case, rather it's for regulatory and market stability - but a lot of stuff was still pretty old school. I've designed an "Information as a Service" program targeting some of the most lucrative sectors in public finance (construction, transportation, education, etc) but still haven't mastered the design / handshakes with needed sources (ex. Thompson Reuters) to really call it ready to debut. Another issue is finding the right price point - Bloomberg's got a racket going, I'd just want to hit a good spot where most businesses could afford access, or put it at a value premium where having the information before others (arranged/conditioned by the system) would be worth larger expense. Eh, good times!

eumoria 10y ago

according to wikipedia roughly 315,000 so that's 7.9 billion dollars a year. what a fucking racket... holy moly