Fintech Podcasts

2016 was Bloomberg’s Blackberry moment (interview with Morgan Downey)

2016 was Bloomberg's Blackberry moment (interview with Morgan Downey). Photo by gotvideo, Shutterstock.com
Written by Zack Miller

Zack Miller asks Morgan Downey from Money.net about the positioning of Bloomberg as our go-to source of financial data.

Hundreds of millions of dollars – in some cases, billions – have been spent trying to create a ‘Bloomberg killer’. So far, no one’s come close to succeeding. But there’s a chink in Bloomberg’s armour. Except for 2009, in the throes of the financial crisis, for the first time since its founding in the early 80s, Bloomberg terminal sales declined last year.

To Money.net’s Morgan Downey, that’s Bloomberg’s ‘Blackberry moment’, the inflection point that shows that consumers are now able and willing to leave a legacy product. Downey should know – until relatively recently, he ran Bloomberg’s commodity division before stepping out to create his own Bloomberg competitor, Money.net.

Morgan joins us today on the Tearsheet podcast to discuss the market for financial data, Bloomberg’s strengths and weaknesses, and where he thinks the market for financial data is headed.

You can listen to more episodes of the Tearsheet Podcast, and other fintech shows, on the BankNXT podcast page. Enjoy!

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– This Tearsheet podcast is reproduced with kind permission. Some minor changes may have been made to the text to reflect BankNXT style considerations, but the podcast itself is always unchanged. Photo by gotvideo, Shutterstock.com

About the author

Zack Miller

Zack Miller is founder of Tearsheet (formerly Tradestreaming), a vertical media company focused on the digital finance and fintech industries. Zack has worked with and consulted to many top venture-backed fintech companies, including Lending Club, Behalf, SigFig, OurCrowd and Seeking Alpha.

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