Why Bloomberg Rules

As regular readers of this site will know, I’m unhealthily fascinated with Bloomberg (the company, not the mayor). Maybe that’s why this Slate article on the company’s continuing success in a market — news — that most people think is broken is so intriguing.

The Bloomberg obsession with giving traders what they want sometimes vectors to the absurd. The Bloomberg Terminal is marketed as a money-making machine, which it is, but it’s also presented as something as racy and exclusive as a BMW. Who does the dressing? The Bloomberg sales force has a reputation for being staffed with a lot of good-looking women.

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Comments

  1. peter says:

    Living and working in NYC with a BB machine for more than 12 years, have yet to see all the good looking woman in BB sales….. not saying they are not here as we have a plethora of smart gorgeous woman in the city… and the mayor is doing a great job… we could use his skills at a higher level. once Bush goes back to the ranch…. would do wonders for our country if we could have a president with a brain; that is not beholden to special interest groups…..

  2. I would add that Bloomberg correctly identified two service aspects that were not good enough for the many financial industry professionals using Reuters and Telerate. Bloomberg focussed on this:
    * Ability to collect, manipulate and compute financial data;
    * Ability to communicate instantly with colleagues, whether fellow traders, brokers, bankers or analysts inside or outside the organization;
    That is a classic case of disruptive innovation. And Michael Bloomberg, to me, looks like a serial disruptor.
    More on the disruption of mainstream media:
    http://www.ondisruption.com/my_weblog/media_meltdown/index.html