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Correct. Also, Bloomberg has messaging for traders that is actually an important network effect in certain domains.

by mushufasa 2mo ago

hmokiguess 2mo ago
Can you elaborate on the network effect piece? Curious about that
- lesam 2mo ago
  It's really useful to have a chat app that is gatekept behind a 20k/year+ subscription. It's a particularly useful signal if someone is offering you a million+ dollar asset for sale.
  - hmokiguess 2mo ago
    I get that, was more curious if you knew how much that is used for signaling and the traffic there. I sort of expected these communities to exist in other sources (like regular SMS / Slack / private back channels etc).
    - brendoelfrendo 2mo ago
      I'm going to copy-paste one of the comments from ryukoposting higher up in the thread because I think it's relevant here: > 2) Bloomberg's chat is important because, as a hedge fund or investment bank, the chat is how you buy and sell bonds. You agree to the trade in the chat, then tell the back office folks to execute the trade. Direct quote: "I'd wager 90% of the ~400 trillion in annual bond trading value happens over Bloomberg DM" You may discuss trades via SMS or Slack; maybe you're important enough that you have a broker, and you send them your idea. But the broker at the investment bank is probably handling those trades via Blomberg terminal. That's the network effect: all the bankers are in Bloomberg chat, and it is therefore the easiest place to find who owns an asset and negotiate a trade.
      - hmokiguess 2mo ago
        Thank you, that was the piece I wasn't aware of! Appreciate the reposting.
- kortilla 2mo ago
  Same effect as a country club. You know a lot about the person you’re talking to just based on their presence.
  - hmokiguess 2mo ago
    That's a cool way of putting it, thank you!
  - Bluestein 2mo ago
    (Or you can get an [un-]Truth [a-]Social API subscription and know before everyone else!) /s
- quickthrowman 2mo ago
  Some assets are traded OTC aka “in a chat window”.

Correct. Also, Bloomberg has messaging for traders that is actually an important network effect in certain domains.

hmokiguess 2mo ago

Can you elaborate on the network effect piece? Curious about that

lesam 2mo ago
It's really useful to have a chat app that is gatekept behind a 20k/year+ subscription. It's a particularly useful signal if someone is offering you a million+ dollar asset for sale.
- hmokiguess 2mo ago
  I get that, was more curious if you knew how much that is used for signaling and the traffic there. I sort of expected these communities to exist in other sources (like regular SMS / Slack / private back channels etc).
  - brendoelfrendo 2mo ago
    I'm going to copy-paste one of the comments from ryukoposting higher up in the thread because I think it's relevant here: > 2) Bloomberg's chat is important because, as a hedge fund or investment bank, the chat is how you buy and sell bonds. You agree to the trade in the chat, then tell the back office folks to execute the trade. Direct quote: "I'd wager 90% of the ~400 trillion in annual bond trading value happens over Bloomberg DM" You may discuss trades via SMS or Slack; maybe you're important enough that you have a broker, and you send them your idea. But the broker at the investment bank is probably handling those trades via Blomberg terminal. That's the network effect: all the bankers are in Bloomberg chat, and it is therefore the easiest place to find who owns an asset and negotiate a trade.
    - hmokiguess 2mo ago
      Thank you, that was the piece I wasn't aware of! Appreciate the reposting.
kortilla 2mo ago
Same effect as a country club. You know a lot about the person you’re talking to just based on their presence.
- hmokiguess 2mo ago
  That's a cool way of putting it, thank you!
- Bluestein 2mo ago
  (Or you can get an [un-]Truth [a-]Social API subscription and know before everyone else!) /s
quickthrowman 2mo ago
Some assets are traded OTC aka “in a chat window”.