I don't think the finance field needs a better bloomberg, I think the whole interface and everything needs to be rethought. Part of the moat is the data, and data access. But I think we need to completely reimagine the terminal interface and interactions with the introduction of AI. The finance industry probably will be slow to adapt, but I genuinely think someone could completely disrupt 99% of the wall street businesses with an original idea.
> Part of the moat is the data
Not particularly. I don’t think Bloomberg has any super-proprietary data. It’s more like Excel. There is a command or two that is so weirdly niche specific that some user somewhere really needs. And it has a social network.
Bloomberg, as it is, will probably work as long as humans are in the loop in trading financial assets.
My observation is that finance and banking and corporate functions high enough up the ladder operate more like a clubhouse than cutthroat businesses. You’d think all you need to do is make a better interface, but if you’re not part of the club, you’re not doing the business (or even getting shot at it).
A large amount of the value is that you aren't allowed in.