Pierce Crosby: Charting Success with TradingView - [Making Markets, EP.8]
Dec 15, 2023
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Pierce Crosby, General manager of TradingView, discusses the rise of TradingView's ubiquity in the trading market. He explores the services offered by TradingView and details its business model. They also discuss managing relationships with various brokers and the challenges in acquiring data for startups.
TradingView has become the largest finance website globally, with 50 million users in 180 countries, offering sleek, user-friendly charting and data visualization tools that have gained widespread acceptance among both everyday investors and prosumers.
Crypto trading has emerged as a significant area of interest for TradingView users, attracted by the boom and bust nature of the market and the platform's intuitive charting tools, while equities remain a popular asset class, particularly in the US and India.
TradingView's rise to prominence in the charting space can be attributed to its sleek design, ease of use, and cost efficiency, which have made it an attractive alternative to traditional brokerage firms who have cut down on charting and data visualization teams.
Deep dives
TradingView: The Journey of the Largest Finance Website
Pierce Crosby, the general manager of TradingView, discusses the growth and success of TradingView, the largest finance website globally, with 50 million users in 180 countries. TradingView offers sleek, user-friendly charting and data visualization tools, making it popular among both everyday investors and prosumers. While Bloomberg dominates the institutional space, TradingView has become the go-to platform for retail investors, providing a wide range of tools and features at an affordable price. The company has also formed partnerships with integrated brokers worldwide, allowing users to complete the full trading lifecycle on the platform. TradingView's global reach and acceptance, particularly in emerging markets, highlights the platform's growing influence and utility.
TradingView's Main Asset Classes and User Segmentation
While TradingView covers a wide range of asset classes, such as equities, Forex, and commodities, crypto has emerged as a significant area of interest for users. The boom and bust nature of the crypto market, combined with TradingView's intuitive charting tools, have attracted a large user base interested in crypto trading. However, equities remain a steady and popular asset class, particularly in the US and India. Additionally, people globally still closely monitor major stocks like Apple, Google, and Tesla. Oil, especially in emerging markets, garners significant attention due to its impact on local economies. While TradingView primarily focuses on technical analysis, it recognizes the need to expand into fundamental and news data, offering access to Dow Jones and Reuters news wires, and exploring partnerships for consumer trend data.
The Benefits of TradingView's Charts Over Competitors
TradingView's rise to prominence in the charting space can be attributed to its sleek design, ease of use, and cost efficiency. Many traditional brokerage firms have cut down on charting and data visualization teams, making TradingView an attractive alternative. Its extensive library of charting tools, customizable indicators, and diverse range of markets make it a go-to platform for technical analysis. Interactive Brokers' decision to embed TradingView's charts further solidifies its reputation. However, TradingView recognizes the importance of continuous innovation and expanding into other data sets to cater to the evolving needs of its users.
TradingView's Growth Amid Market Cycles
While TradingView benefited from the meme stock and crypto manias, it understands the risks of relying solely on such market trends. The company focuses on long-term growth and building reliable technology, rather than speculative and short-term trading. It acknowledges that market cycles come and go, emphasizing the importance of providing value to investors and satisfying the demands of sophisticated traders. TradingView is mindful of not becoming overly dependent on any particular asset or market, diversifying its offerings, and continuously seeking new avenues for growth.
TradingView's Position in the Hype Cycle
In terms of the hype cycle, TradingView believes that it is still on the way down toward the trough of disillusionment. It anticipates future challenges, such as the higher-for-longer scenario and potential write-downs of business valuations. The platform acknowledges that there is more to come, particularly in the commercial real estate market and the venture capital space. However, TradingView remains bullish on its own prospects, having achieved profitability and positioning itself as a reliable and cost-efficient platform for technical analysis, news data, and beyond.
My guest today is Pierce Crosby, the general manager of TradingView. TradingView has become the largest finance website in the world with 50 million users across 180 countries and Pierce takes us through this journey today. We talk about TradingView’s business model and their role in the brokerage industry, which is facing declining margins. We also cover how consumers use the platform today across different asset classes and geographies. Please enjoy this conversation with Pierce Crosby.
For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.
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