On Monday Oct. 16 my friend Howard Lindzon launched Wallstrip, an ambitious mash-up of new media - online video, decentralized conversations, aggregated content, user comments, community, … - focused on all things Wallstreet:
“Wallstrip is where stock culture meets pop culture. Each day Wallstrip looks at a company whose stock is at or near its all-time high and then they try to understand why - not in the stock world, but in the real world of consumers, products and the market place of ideas.”
When I had dinner with Howard in July he laid out his vision for Wallstrip and I remember being impressed with his vision but unsure whether he’d be even attempt to execute on something so ambitious.
Well he has. And I’m proud of him for what he’s building.
Here’s the premise (as it currently stands): viewers visit wallstrip.com everyday for a new, short, video clip where the host, Lindsay, entertainingly highlights a stock that is at, or near, its all-time high. Again, this is from a pop culture / consumer perspective. It’s fun and light.
And then on the site visitors can access:
- Deeper analysis on the stock from a range of voices: prominent stock bloggers, entertaining 20-somethings, etc.
- Aggregated discussion from the blogosphere via Buzztracker (a very cool service).
- Open discussion via comments.
It’s a very clever idea and Howard and his team have done a good job of executing on it so far. Being around start-ups all day, I’ve learned to look for, appreciate, and value future potential instead of nitpicking immediate issues when assessing an ambitious new project. A project as ambitious as Wallstrip will have issues as it develops but I’ve been impressed with how quickly the team has adjusted and reacted to feedback - a positive sign that they’re going to do a great job unlocking all of the project’s potential.
Here’s what you can expect on a given day:
A short and entertaining introduction to the company/stock, Apple/AAPL, by Lindsay:
You can comment on the clip (78 comments for the clip above) and read and comment on any of the aggregated posts analyzing the stock: Bill Cara, Daily Options Report, Fred Wilson, Brian Shannon, and The Rad Report.
And then BuzzTracker aggregates all of the decentralized conversation so that an open dialogue and debate can evolve. This holds tremendous potential for those interested in following and discussing the markets.
Again, it’s a very ambitious project, leveraging many elements of new media, and the execution so far has been great. The potential for Wallstrip is huge. I’m excited to watch the project develop. Disclosure: long Wallstrip.
Here’s a very quick Q&A with Howard:
1) Wallstrip’s opportunity is due to:
It’s due to neglect for looking at the market in a different way - an entertaining one. All the stuff today is the same. Loud and louder.
2) Where do you see the trend of niche online video going:
I don’t think Wallstrip is a niche. It is entertaining. The video STARTS a conversation. That conversation could be about the company, the stock, or both.
3) Long-term vision for what Wallstrip could become:
A network. A good one. A different one. Upside down, small is big, funny is smart look at the markets.
4) Potential revenue models (or simply ad based?)?
I like products. If we gain trust, why would I place an ad when I could sell products. I have good taste in things. I would rather ask the community to buy a great product directly and help brand it than have senseless ads. I have a great plan in my head
5) Is seeding the conversation with daily posts from blogosphere “heavy weights” sustainable? Plan for when/if it stops? How to recognize conversation from unofficial commentators?
Great question. Don’t know. What constitutes a heavyweight? When ebay started - there were NO powersellers. They unleashed millions of entrepreneurs. The blogosphere will unleash stock market genius and expose the sham that many Yutz’s coming on CNBC to peddle their stocks really are - yutz’s.
6) Why Revver?
Revver is so much better than anyone in the field. My partner wrote a great post the other day - it talks about why Revver can make it. They are out there making us widgets to help us build our own network. That’s cool. YouTube is in the end all about YouTube other than the miracle, needle in the haystack story. Awesome for sure, but different.
7) Start-up capital required for a show filling an online video niche?
I think you need one year’s capital as that is what Rocketboom took to start doing ads. Over 100k and less than 200k to get the talent and location and production and writing talent. All the start-up capital wont help you build an audience for a crap show or crowded niche. Gadgets is so crowded in tech that I would not push into that space with 500k. But I am also not confident of my knowledge in that space. I am veerry confident in stocks and the market.
And (shoot!) I forgot to ask Howard the most important question: will Wallstrip become bigger than breast implants?
We’ll see.
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