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> Because data. Because LOTS OF DATA. They are getting the data from third parties while the team is building the platform to use that data.
by sumedh 5y ago
> Because data. Because LOTS OF DATA.
They are getting the data from third parties while the team is building the platform to use that data.
- tomatowurst 5y agoand they have exclusive licensing agreements that makes it near impossible to get the full complete data. bloomberg terminal is not something that can be disrupted by open source, it would be similar to creating a google competitor by scraping alexa 1000 websites. it won't win them over.
- sumedh 5y agoI think almost everyone knows that fighting Bloomberg directly is not going to be easy but they can start attacking some niche areas, make it cheaper for others who cannot afford Bloomberg and start from there.
- traceroute66 5y ago> They are getting the data from third parties while the team is building the platform to use that data. By definition the bulk of the data needs to come from third parties. But Bloomberg are not getting that data by scraping the web or from free sources. 99.9999% of the data will be from $$$$$ feeds. Second, ask any data scientist about "third party data". ;-) .... Its not just a case of "plug the API into my server and off we go". Feeds break, data has issues, data needs to be reformatted etc. etc. etc. Remember we are talking about Bloomberg, a service that provides true global data. Not just the common as muck US stuff that every man and his dog can give you.
- sumedh 5y agoYes but you will be paying the third parties to handle all the data issues. If you cannot afford Bloomberg's fees then you dont have a choice and go with the cheaper option.