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Oh god, not another Bloomberg killer / competitor. Yawn. Look guys, its cool you're building this and all that, but please skip the whole Bloomberg comparison
by traceroute66 4y ago
Oh god, not another Bloomberg killer / competitor. Yawn.
Look guys, its cool you're building this and all that, but please skip the whole Bloomberg comparison thing because you're only embarrassing yourself.
I've had a fair bit of involvement with Financial IT over the years, and let's just be honest here. Bloomberg has no real competitors. For fixed-income (bonds etc.), Bloomberg is unparalleled. For everything else they have a vast and largely un-paralleled dataset.
The nearest two real competitors to Bloomberg are Refinitiv (a.k.a. Reuters) and FactSet.
Of those two, Refinitiv are the nearest to Bloomberg. But despite having spent many millions of dollars chopping and changing their product, they still don't have feature parity with Bloomberg. Eikon is a great product for sure, and if you're not trading fixed-income products then it will likely serve you well enough.
FactSet lags behind Refinitiv. Its very much an equities focused product. Its not that bad, but still third-place.
And that's it for the top tier. You have a few interesting players in the second tier (e.g. CapitalIQ and Infront). They do the job for people who can't afford top tier but still want quality.
Beyond that, let's be frank, you start wading into the swamp of Bloomberg "killers" who are anything but.
One of the main problems at swamp level is the lack of coverage. Generally you will find US data, maybe some Canadian, but beyond that you can generally forget about data outside North America, and if there is any, it will generally be limited and of low quality.
Good data costs money. There's no escaping that fact. And that's why the top-tier financial vendors charge $$$$.
- krxhna 4y agothankyou so much for writing such a detailed comment i really don't see this as a bloomberg killer, this is more like terminal for indiviual investors, i really feel like everyone sees things as black and white, on one hand you have your hedgefund investors and on the other you have wallstreetbets who dont care about fundamentals, this is for the middle ground, like a value investor who looks at fundamentals and invest for the long term, even the infamous face of the game stop saga DFV was a hardcore value investor i really am going after that crowd, they don't need those advanced data youre refering to like they're not gonna trade spreads or swaps, so operating terminals backend would be magnitudes cheaper, which i will pass down to my customers, you made really great points i just view this as completely different product
- traceroute66 4y agoOk, fine, but (a) why are you using "Bloomberg" to promote your product (b) have you done some competitive research ? As I said, you are tier 3, and at that tier there are hundreds just like you. Are you really that much different to what every other man and his dog is offering at tier 3 ? Financial data is a competitive space and so (to be perfectly honest) you should have some clear differentiator otherwise you'll just end up another random tier-3 name. As I said in a reply to someone else here, to be absolutely clear: I'm not seeking to be a jerk, I'm just injecting a bit of reality. You've chosen a tough space to operate in...
- deleted 4y ago[deleted]
- pvg 4y agoOh god, not another Bloomberg killer / competitor. Yawn. Take a look at https://news.ycombinator.com/showhn.html https://news.ycombinator.com/showhn.html You don't have to like the work other people post but you can't be a jerk about it.
- krxhna 4y agothankyou you're so nice :')
- traceroute66 4y ago> You don't have to like the work other people post but you can't be a jerk about it. Ok, since I have to spell it out.... My post was NOT "being a jerk". My post was NOT personally targetting anyone. My post was telling the reality. Truth hurts, as they say. Do a search of HN. Do a Google search. There are SO MANY people out there touting themselves as an alternative to Bloomberg, when they are clearly not. The product under discussion here is just following the same path many before it have trodden. It is an abuse of the Bloomberg name, plain and simple. Sell your product in other means, but don't go pretending you are something you are not.
- pvg 4y agoYour post is not in the spirit or letter of Show HN and its guidelines which, again, you can check out in the URL in my comment - they address your specific points.
- niceaddition 4y ago
- niceaddition 4y ago
- pvg 4y agoIt doesn't mean that, it's literally in https://news.ycombinator.com/showhn.html https://news.ycombinator.com/showhn.html In Comments Be respectful. Anyone sharing work is making a contribution, however modest. Ask questions out of curiosity. Don't cross-examine. Instead of "you're doing it wrong", suggest alternatives. When someone is learning, help them learn more. When something isn't good, you needn't pretend that it is, but don't be gratuitously negative.
- deleted 4y ago[deleted]