Social media has changed everything from news consumption to shopping. Dub now believes that users can make the same investments through the influenza -centered market, which allows users to follow the trading of the top investor. Think of Tiktok as meeting Wall Street.
Founded by the 23-year-old Steven Wang, Harvard Drop-off began to invest in second grade with his parents’ blessing. Dub is not about choosing a stock, not about choosing a stock, not about choosing people. This app allows users to follow the strategy of imitating traders, hedge funds and even famous politicians. Dub users can copy the entire portfolio instead of making individual trade decisions.
This concept hit chords. Dub has already surpassed 800,000 downloads and raised $ 17 million seeds. It is less clear whether the Dub can avoid the trap of the previous fintech startup.
I was inspired by Gamestop
Retail investments have developed dramatically over the last 20 years. The era of $ 7 trading commission and foolish intermediary interface invited people to trade free of charge with mobile priority platforms such as Robinhood. At the same time, social media is reconstructing how people, especially Gen Z members, make financial decisions.
As a Harvard student during the epidemic (because I couldn’t actually do anything at school ”WANG believed in these two trends, retail investments and influential decision -making. The collision process. The ability to move the market ”and people’s will be to drop out in 2021 and start the Dub in 2021.
WANG says that the average user of the platform is between 30 and 35 years old, but New York -based DUB is clearly looking for a way in front of a younger audience. In recent weeks, the editor’s 15 -year -old editors have been retailed to Instagram’s Dub ADS and have asked more than once about “investing like Nancy Pelosi.”
PELOSI is not personally traded on the Dub. It is just a merchant of the platform that reflects her open movement. Nevertheless, this idea was on fire. Wang said, “Nancy Pelosi has increased 123% on the Dub with Real Capital. And we’ve made millions of dollars since the portfolio was released on the platform. ”
Dubbing is not free. WANG decided to make money from the beginning, and the DUB will do so today with a $ 10 subscription model per month. WANG also says that the platform claim management fee and the “best” portfolio of the DUB also account for 25%of the commission.
In the meantime, Dub has been partially expanded through organic growth. Wang, who was immigrated from China and grew up in Detroit, said, “A good merchant producer in the app is receiving a decent that brings the audience.
Dub also leans on meta ads to actively invest in advertising and to acquire users, including Instagram. Wang said, “We were so lucky where we thought that the wider American population was more superior to them in connection with the investment world.
Fighting word
The problem is whether the Dub will follow the same way with the fast -growing Fintech Startup, and many of them have found themselves on the cross line of the regulatory agency. Robinhood interrupted the finance by freely trading, but in the face of a regulatory survey before the 2021 IPO, it finally abandoned the function of showering the user with digital colored paper every time it was traded.
Dubbing says it’s zeal to avoid the same mistake. The company has guaranteed the model to comply with financial regulations before launching with FinRA and SEC for more than two years. “We did not explore regulations on the Dub, but accept it.,,,The king says. (Like Robinhood, the Dub is a completely license dealer.)
WANG says Dub is designed to educate users, not to encourage blind guesses, Wang said. The platform displays risk scores, risk adjustments, and portfolio stability indicators to help investors make decisions based on information, he said.
He suggests that it is safer to investors than Robinhood. The king says. At the end of the day, however, it is very easy to trade without expert will without education. It’s actually gambling for a wider population. ”
To emphasize his point, the king pointed out that Robin Una’s decision, along with coinbase and other exchange, to use Mimoin Trump to customers before the inauguration of President Donald Trump. While the price was initially soaring, the price has fallen since then. WANG says: “Incentives are basically a public company that needs to make money, and Oh Jung -ryul has been wrongly aligned between a large platform, and the customer is” probably “.
(Notable Value: In a separate recent conversation with Robin Hood’s Tenev on the Dub, Tenev suggested that TechCrunch could have more interest in regulators, and DUB is still a relatively small size and is still under “magnificent glass” It may not be.)
Either way, not everyone is sold to the Dub’s vision. Critics say that the biggest knock on these platforms is that stock recommendation has a long -term, passive investment, and the findings that the most active funds are not able to overcome the S & P 500.
The king is a familiar criticism, and it is criticism that he quickly retreats. First of all, he claims that many of these studies are “picking cherries.” (I am sure that many people are sponsored by the Manual Investment Index, “he says.
WANG also said there is a reason why active hedge funds such as Citadel are thriving. “If you look at what Ultra Wealthy can do, we give money to Citadel’s Ken Griffin.
Wang said, “If you look at the growth of the hedge fund space and the growth of the asset management space, there is a reason for growth. Because they are making money for customers. ”
