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

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.

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hmokiguess an hour ago | parent [-]

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).

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brendoelfrendo 43 minutes ago | parent [-]

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 7 minutes ago \| parent [-]
		Thank you, that was the piece I wasn't aware of! Appreciate the reposting.

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kortilla an hour ago | parent | prev [-]

Same effect as a country club. You know a lot about the person you’re talking to just based on their presence.

	▲	hmokiguess an hour ago \| parent [-]
		That's a cool way of putting it, thank you!