Now this is a valuable community

Reuters starts a MySpace for stock-pickers. Said Reuters head Tom Glocer: “It won’t have the latest hot videos and the ‘why I am into Metallica and the Arctic Monkeys’ blogs. Instead we are going to give our financial services users the ability to post their research or if they are traders, their trading models.” It’s a great move. Pity that other brands with communities already buzzing around them didn’t come to this first: The Wall Street Journal, the Financial Times, Business Week, CNBC, and on and on. They already have the people gathered around, interested in stocks; they have the wise crowd and the magnet that draws them. When I say that magazines and other media brands should be opening the windows and enabling the people to talk through them to each other to gather and share what they want, this is what I mean. Good on Reuters.

  • Hasan Jafri

    Between Reuters and your earlier post about the BBC on YouTube it looks like a wave of openness is coming our way from Britain. It’s not too surprising, though, given how open their daily newspapers such as The Guardian already are. Comment Is Free probably has more open threads than the op-ed sections of The New York Times, Los Angeles Times and USA Today combined. It was a matter of time before the same openness arrived on the financial and business pages. Good deal.

  • Greg0658

    Hum – seems like another dilution to me.

    Does anyone own the supercomputer that can search out the superstars across various blogs? This cartel could keep those opinions to ones self to become / maintain the trophy of “Fittest Entity” … besides the NSA.

  • http://www.downes.ca Stephen Downes

    Ick, Feedburner display ads in your RSS feed. Subscription to this site on the bubble…

  • Greg0658

    ps – I wonder if NSA analysts spend “on the clock time” (or off – that would be insider trading) padding their bank accounts instead of performing requested tasks. I can’t blame them – it’s human nature. I sure wish we humans could switch off of the cash standard somehow. I think life would be more peaceful.

  • http://www.laurencehaughton.com laurence haughton

    What’s to stop The Wall Street Journal, the Financial Times, etc from creating their own version later? Are you suggesting there’s some kind of “first movers” advantage that will accrue to Reuters? What would it be and what would it be worth?

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  • http://www.brunoandtheprofessor.com Frank Bruno

    I don’t understand… why do we need another closed social network? Don’t we need a better way to communicate and converse across the financial blogs that already exist?

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  • http://www.originalamericanflyertrains.com female

    just a question: why do we need another social network? We only find our friends and communicate with them. thats the purpose of having it but why are we creating multiple accounts with the same friends?