Mark Evans recently got Toronto-born Howard Lindzon to answer 5 questions about his experience with online startups. While they started with Lindzon’s recent investment in Toronto’s ECHOage by the third question Lindzon’s was explaining his most recent startup – StockTwits. Turns out it’s taking up most of his time right now.
StockTwits has had a great reception. We built it on top of Twitter. We can say that is good or bad but I feel like it is all about building a reputation platform because stock message boards that are just broke: all noise, no signal. I am all or saying what you want but let everyone see exactly what you said all the time. People can filter out your noise. I can pick and follow who I want to choose based on your reputation.
I think it is the best idea I’ve ever had. I am really excited. We had 3000 Twitter users the first couple of days, and they all are contributing. We are not supporting bulletin board stocks so you’ve got 7,000 real traded securities so it keeps away the penny stock people.
Considering the mainstream excitement around Twitter and the complete ineffectiveness of old-school stock boards, Lindzon may be on to something big.