In Episode #51, we explore building a social platform for stocks. We’re joined by David McDonough, founder and CEO of Commonstock. We cover the future of social investing, making investing accessible to all, and the NFT movement.

“The loudest voices in the room are seldom the best investors, the people sharing the best knowledge. Sometimes the people who are the quietest are sharing some of the most interesting insights.” – David McDonough

EPISODE GUIDE (LINKS, QUOTES, NOTES, AND BOOKS MENTIONED)

https://www.danielscrivner.com/notes/david-mcdonough1-outlier-academy-show-notes 

FULL TEXT TRANSCRIPT

https://www.danielscrivner.com/notes/david-mcdonough-outlier-academy-transcript 

CHAPTERS

This episode is our definitive guide to building a social platform for stocks. In it we cover:

• (00:00:00) – Introduction
• (00:01:35) – David’s background leading to Commonstock
• (00:06:00) – Commonstock’s mission and setup
• (00:10:20) – How Commonstock is serving modern investors
• (00:19:13) – The future of social investing 
• (00:24:59) – Making investing accessible to all
• (00:33:22) – The NFT movement
• (00:44:22) – Lessons for new entrepreneurs

ABOUT COMMONSTOCK

Commonstock is building the data and communication layer that can sit on top of any investment account. Members can hook up everything from their crypto positions held at Coinbase, to their stock in option positions at Robinhood or Interactive Brokers, alongside things like their retirement account to get a complete picture of their assets and how that unlocks anyone to be able to share the investments they're making as transparently as they'd like while following the trades of others and learning from the smartest minds on the platform.

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ABOUT OUTLIER ACADEMY

Learn timeless lessons on work and life from iconic founders, world-renown investors, and bestselling authors. Outlier Academy is the forever school for those chasing greatness. Past guests include Gokul Rajaram of DoorDash, Scott Belsky of Benchmark and Adobe, Joey Krug of Pantera Capital, Mark Sisson of Primal Kitchen, Luke Gromen of The Forest for the Trees, and Brian Scudamore of 1-800-GOT-JUNK.

Website: https://www.outlieracademy.com

Twitter: https://www.twitter.com/outlieracademy

ABOUT DANIEL SCRIVNER

Outlier Academy is hosted by Daniel Scrivner. Over the last 15 years, Daniel has led design teams at Square and Apple, turned around a $3M+ ARR SaaS business, and invested in more than 100 companies. He launched Outlier Academy in 2020 to learn from the world’s best founders, investors, authors, and peak performance experts.

Website: https://www.danielscrivner.com

Twitter: https://www.twitter.com/danielscrivner

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