GZV #43: A New Community app and of course, Gen Z Investing
Welcome to all my new subscribers!
Usually I send my posts Wednesday morning, but I was packing and driving home Tuesday and Wednesday, so it was a little hard to make that happen.
I am excited for the summer ahead. Lots to look forward to.
Let me tell you about… Geneva.
Note:
I am going to cover this from the college side, because it the side I know best.
Problem:
College is built on communities. From fraternities and sororities, sports teams, and classes, we have multiple groups we want to keep in constant communication with. And the best existing solution is at best an MVP (minimum viable product).
Solution:
“Geneva is an all-in-one communication app for groups, clubs, and communities. Chat, post, hangout, livestream, plan, and more — it’s everything your group needs to stay connected, all in one place.”
Essentially imagine all the best ways to communicate within one app.
Gen Z Voice:
Group Me is currently the main platform my communities use on campus. It is simply messaging in big groups. The only extra features are calendars and polls.
Geneva has chat rooms, post rooms, audio rooms, videos rooms, and broadcast rooms. Not only can you communicate through Geneva, but you can connect and engage with your community.
Especially after Covid, college students know how important it is to connect and engage socially. Geneva helps us do this virtually.
The UI/UX design is flawless, very nice for the market it is targeting.
Check them out on Product Hunt. (I upvoted them)
https://www.producthunt.com/posts/geneva-1
Fundraising?
Not currently raising but if you want to connect, just email eva@geneva.com
'“Now teenagers can trade stocks with Fidelity’s new youth investing accounts”
Fidelity came out today and announced new youth accounts for kids 13-17 years old. Kids will have to have a parent that already has an account with Fidelity in order to be eligible.
All I have to say is finally. I have been interested in the market since I was 14 years old, but couldn't actually invest until I was 16 years old. Even then my dad had to make the account under his name, which made it a hassle when I turned 18 to transfer my shares to a new account.
The fact of reality is some kids love trading from a young age. Didn’t Warren Buffett buy his first stock at 12? Even though some retail trading has definitely contributed to bubbles like GameStop and AMC, these retail traders are learning early. We always preach in high school how good it is too invest, yet kids can’t even make an account.
I also like how kids cannot trade options or trade on margin. These risky plays have resulted in too many accidents and this is definitely the safe play. I believe the only problem Fidelity will have is simply attracting users. Apps like Robinhood and others have made investing so gamified for these kids it is getting further and further away from reality and feels more like a game.
And when investing feels like a game, it turns into GameStop.
Overall I have been a large advocate for youth investing for the last 6 or so years and believe this is a step toward the right direction. Fidelity allows parents to have transparency, but also allows the kids to learn young and make mistakes when they are 14 or 15 and they are only losing $50.
That is all for this week. Glad to be back.
Cheers!
Tom