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Thank you, Scott! This is an excellent review. You have a great way of simplifying!

I wanted to address your two concerns:

1) Retail investors’ current sentiment. This is not a new phenomenon. Every industry has its cyclicality. That's one of the reasons we recently launched our B2B API product. It's a lot more reliable and has cash-generating power. Businesses don't stop paying for insight vendors because the market is down. Once Stock Card is a part of their product, it is pretty sticky. We already have seen great traction and early interest with several trials on our B2B API product. Stay tuned for those.

2) Possibility of Robinhood replicating our success. You eluded to it. There is a significant business model barrier for a brokerage that makes money from order flow to encourage better investing with more diligence. Enabling fact-based and less emotional decisions means cutting their revenue.

Also, this doesn't mean we will stop innovating. Like Elon Musk says, the only way to stay ahead is to keep innovating and disrupting yourself. We have a crazy roadmap a bead of us. From browser extension that takes Stock Card to any news website or brokerage to creator-branded Indexes and ETFs, we will keep innovating to solve retail investors' problems.

Thank you for the review, and we just hit out min investment raise on Republic.

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author

These are all great replies to points that I made, I appreciate you eloborating further on several of the details. I certainly agree with your point on trade volume being the product for companies like Robinhood, my only real contention there is that if that remains the sole business in the future, they will be in trouble -- and naturally, just because someone else could* do what you do is no reason to stop or pivot. Best of luck and congrats on hitting campaign minimum!

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Thank you! Good points.

And, yes, we just hit min and have several exciting announcemnts in the pipeline for the next 3-4 weeks.

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