Naive question here: wouldn't the upside of keeping this secret and trading on it's output yourself far exceed what you can make in subscriptions?
I'm reminded of the headline "More than 16M Americans have lost jobs in 3 week, dow's best week since 1938"
https://www.reddit.com/media?url=https%3A%2F%2Fi.redd.it%2Fr...
That's likely a significant contributor behind the November election results in the US and across Western countries in general. People aren't dumb, they spot through politicians and media claiming "good economy numbers" while their own paychecks don't come close to keeping up with inflation.
The economy numbers may be at record highs, but way too much of the wealth ends up in the pockets of a very select few.
It's not that at all. Things like Russia spending all its money on the war effort boosts GDP, but doesn't help prices in the long term. The measures often don't measure costs, other than inflation.
It's the same way creating your own get rich quick scheme is the actual way to get rich quick, not following someone else's scheme.
Say for example a filing happens that a company will be impacted by trade sanctions. You could short the stock as a naive investor and maybe make a few bucks. Someone with sector knowledge will rebalance their portfolio knowing that customer demand for widgets will shift to sprockets which in turn require doodads. AI isn't there yet because it requires a lot of non-public knowledge to really make money off of.
We've already seen how just having basic sentiment and risk analysis has helped our users catch significant changes they would have missed - like subtle shifts in supply chain disclosures that preceded market moves. As we add features like more filing types, earnings call transcripts, and cross-company competitive insights, the system becomes more valuable for everyone.
The best trade isn't always the obvious one.
Most of the data is unstructured, or worse Edgar xml, adding yet another barrier.
I suspect this case is mostly about sentiment analysis and summary using LLM. The claims about reacting before the market seem egregious.
Institutional investors have had systems like this in place for decades. LLMs might improve parsing the data in some ways, but this is (and was) completely doable before the LLM era, meaning there’s probably not a huge amount of secret sauce here worth protecting.
If anything, a project like this simply improves the information asymmetry between retail and institutional investors.