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It's a bit ironic that in a country with free markets, so much of the data that is relevant to modern finance is proprietary and quite expensive. The exchange/

by resters 1mo ago

It's a bit ironic that in a country with free markets, so much of the data that is relevant to modern finance is proprietary and quite expensive. The exchange/marketplace is the oldest business in the world. How absurd that in 2026 seats on exchanges cost millions and the entities that control exchanges are mechanisms of gatekeeping rather than quality control -- the cronyism shown to SpaceX reveals just how corrupt it's become.

wavemode 1mo ago
A stock exchange is nothing more than a marketplace. Anyone can start their own (the challenge being, getting a bunch of companies to want to list their stock with you). That freedom is actually why it's hard to create a Bloomberg competitor - in order to provide their data stream, Bloomberg has to have partnerships with hundreds of companies worldwide who run exchanges for stocks, bonds and other instruments. If exchanges were government-controlled rather than free-market, there would be more centralization and getting the data together would be easier.
- munksbeer 1mo ago
  > A stock exchange is nothing more than a marketplace. Anyone can start their own (the challenge being, getting a bunch of companies to want to list their stock with you). Not really true. I can't just start a stock exchange. I need to comply with a bazillion regulations. Then I need a license, which I won't get. As much as the crypto space is disliked, it also showed what happens when regulation isn't stopping you. Exchanges would pop up and anyone could create one. You didn't have to be already wealthy, a spin off from a hedge fund, a connected family, a connected person. You could just do it, and if it was good enough, people would trade on your venue. Then, probably correctly, regulation came, and now that is all gone. The little person can't do that any longer, it is now reserved for the elites again.
  - cedilla 1mo ago
    There was also a lot of fraud and mismanagement. People's crypto vanished and no one at the exchange was able to reconstruct how because there was no sufficient security and no real bookkeeping. There is a lot of regulatory capture in the financia sector, but that does not in imply that no regulation is necessary at all
    - munksbeer 1mo ago
      "Then, probably correctly, regulation came, and now that is all gone."

by resters 1mo ago

wavemode 1mo ago

A stock exchange is nothing more than a marketplace. Anyone can start their own (the challenge being, getting a bunch of companies to want to list their stock with you). That freedom is actually why it's hard to create a Bloomberg competitor - in order to provide their data stream, Bloomberg has to have partnerships with hundreds of companies worldwide who run exchanges for stocks, bonds and other instruments. If exchanges were government-controlled rather than free-market, there would be more centralization and getting the data together would be easier.

munksbeer 1mo ago
> A stock exchange is nothing more than a marketplace. Anyone can start their own (the challenge being, getting a bunch of companies to want to list their stock with you). Not really true. I can't just start a stock exchange. I need to comply with a bazillion regulations. Then I need a license, which I won't get. As much as the crypto space is disliked, it also showed what happens when regulation isn't stopping you. Exchanges would pop up and anyone could create one. You didn't have to be already wealthy, a spin off from a hedge fund, a connected family, a connected person. You could just do it, and if it was good enough, people would trade on your venue. Then, probably correctly, regulation came, and now that is all gone. The little person can't do that any longer, it is now reserved for the elites again.
- cedilla 1mo ago
  There was also a lot of fraud and mismanagement. People's crypto vanished and no one at the exchange was able to reconstruct how because there was no sufficient security and no real bookkeeping. There is a lot of regulatory capture in the financia sector, but that does not in imply that no regulation is necessary at all
  - munksbeer 1mo ago
    "Then, probably correctly, regulation came, and now that is all gone."