I am making a guess here because the data they provide to their customer validates their price tag. What is that 10% that Bloomberg is able to charge their customer the premium price tag?
We get a lot of data directly from the SEC and international regulators, which of course is very reliable. We'll also have a data validation team as we grow -- our goal is to have 100 percent accurate data, 100 percent of the time.
Bloomberg does stuff like mapping the location of every oil barge in the world in real time. That is great if you are an active oil trader making trades by the second, but will you need that as an equities investor in public markets? Highly likely, the answer is no.
So, we cut out the stuff you don't need, and focus intensely on providing the best possible information that you do need, at a price that's accessible to everybody.
Thanks for the feedback, and please don't hesitate to ask any further questions!
Good to have a goal... how are you verifying to know you reached that goal?
Reality check: if there are humans involved in any part of the process then that goal is not possible.
Are there metrics on data validation that would be more meaningful and not exceed your budgets?
From a brief review of your website it seems like you have less than 1% of the data that Bloomberg provides on their terminal. Maybe I’m wrong about that, but…
I used to do computer work for an upstart carpet cleaning solution company. They made bold claims about their product vs the established competitor. Five years later my customer still had copies of the checks they had to write to the established competitor as settlement of false advertising accusations hanging framed on their wall. The lawsuit and the settlement almost drove them out of business.