Anyone who has ever tried to build a tooling company of any sort knows how hard it is to ask people to swap out one set of tools for another. But over the decades, their users have learned how to get to their favorite screens by navigating through a pseudo-CLI, and those users do not want to learn something new. All those folks are messaging each other with their Bloomberg IDs, so they know with each message who's in and who's out.įor those who dislike Bloomberg's UI, guess what, many people within Bloomberg do, too. If you work in a financial firm and you don't merit a Bloomberg Terminal, no matter how high up you are in HR, then you're not that important to the company. Bloomberg benefits from the ultimate network lockin. There's not as many of those as there are Facebook users, but they have very specific needs, they are likely to know and need to communicate with many of their peers, and they consider having a Bloomberg Terminal a mark of status. It is a social network whose average user earns more than $400k per year.

Bloomberg introduced one of the first, and certainly the longest-lasting, social networks when it debuted in 1981. A lot of people misunderstand the uses of a Bloomberg Terminal.

Is a bloomberg terminal worth it