OpenBB wants to be an open source challenger to Bloomberg Terminal
Lapsed Bloomberg terminal user here. I used it to trade everything under the sun, as well as read the news, and communicate with counterparties.Good luck to these guys, I do think it's a market that needs more entrants.But it's quite an uphill struggle. The thing about Bloomberg is the completeness. Not only do they offer all data on all exchanges plus OTC, they've done it by partnerships with a huge range of players. Very hard to get in on, you need an army of bizdev to maintain this.I was lucky enough to work across asset classes. Their data plus into tools that each kind of user needs. Volatility surfaces, bond pricers, currency forward calculators, credit default information. That's a lot of spreadsheets that you as a user won't have to write yourself.Then they have basically a whole newspaper, of pretty high quality.And then they have an approved chat function. This is not a technically difficult thing, but again you need every compliance department to approve use.They even have a legal arm where they gather legal news, I never used it but it sounds huge as well. And restaurant reviews. I used to joke that they had a dating site for users too, but it would not surprise me if that were true.All that for only 2k a month. Consider your average user on Bloomberg might be on hundreds of thousands total comp, or a team with that comp would share one.