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WinklevossCapital.com's Tyler Winklevoss and Cameron Winklevoss and SumZero.com's CEO Divya Narendra on how SumZero helps investors through social net...
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The name winkle -- they were the twins who reached that settlement with FaceBook CEO Mark Zuckerberg they took the money and created.
A firm up where they actually do Angel Investing winkle -- capital they've just made their first one million dollar investment in the investor social networks some zero.
Joining us now our Cameron and Tyler winkle possibly -- -- capital and Libya and Iran dropped.
The co-founder and CEO of some zero and you guys were college buddies at Harvard correct right.
And so now.
You get to be the first where they're putting their money into your company talk about sub zero and make that pitch and what turned them on about your company.
It's a very simple idea based -- -- hedge fund and realize that the time that there is no.
Easy mechanism by which professional investors can reach out to one another and and vent out they're researching trade notes and and so I decided to create the network for the buy side as -- -- -- Consisting hedge fund analyst mutual fund analysts private equity analysts -- every member has to apply to gain access.
To maintain a certain level of quality what do they get access to.
So they get access to each -- insights which is you know very very important because if you're an analyst that a fund the person that you want to reach out to.
The most is going to be somebody another analyst who has also.
Has money behind his positions to has done a lot of fundamental research.
And we make that's very easy to.
Tyler -- you know it's very interesting when there's a pile of money there and you're looking.
At places where you'd like to -- but what was it about this one in particular.
From the fact that you're all good friends.
That's spent that this event -- hurdles -- hurt but it doesn't help when the idea is in good what did you love about.
I guess it's all about how this company can make money to listen.
Yeah I think that we we look for truly unique companies and we think that -- -- is such a company.
It's really.
It's the only alternative the sell side research out there.
So that was it was a big point -- -- as well as some.
Of course not for -- -- -- we like.
Obviously want to pick a good horse but we feel -- betting on the jockey.
In the long term is really one of the best approach is because things change but if you bet on the right -- from New York.
Thirteen generally -- -- over the finish line so with video that was a no brainer for us.
Tyler when you look at exactly.
What it was here it it there's also.
-- kind of a barrier when it comes to who can be allowed to come on this site correct.
Well exclusive -- well there's there's a product for everybody on the side so so there's a free product right as a free products you can also pay.
And then it's free for buys others as well so who's coming home to -- -- Anybody can come on actually but not for the by senators but people -- newsletter.
They can get the songs -- leave or.
-- -- -- -- -- -- Come the -- and community 129 dollars per month for the expensive part of it now what do -- get for that if you.
So every month we we we look at the highest rated ideas on the core -- buy side community within some zero.
And we you know the authors that we wanna feature on a belief which is -- -- subscription product.
And we asked them if it's OK if we can -- their research on on this product they usually say yes they almost always say yes it's great for their reputations script for -- brands.
And they love the exposure I knew that if I mean there's so much chunk out there and there's -- also bad idea it's so.
They're multiple through vetting.
Components of one you have to apply to gain access -- -- if you work at a fund.
You have to actually apply to gain access and I personally vet out which application.
But then what's great about being online communities -- the community itself polices everyone within the community so our members can read each other.
And they can -- each other on multiple metrics and we use those various metrics and ratings to -- come up with an overall rating for each idea.
How much money do you guys have to invest this is a million what else is gonna be out there.
Well we don't really speak truth to that this is specific accounting that would then they have -- -- I think he's well it's -- is something that we don't we don't really address but.
I think we're we're certainly look at other companies but.
As angels our goal is to sort of be.
Both bring resources in terms of capital but also -- her sleeves and be operational.
And so we will very much be on the ground -- -- the and helping his team.
Push the ball forward just like we are right now.
What -- they ask us sort of 30000 foot question hovering above the situation right now you guys are wealthy you're young you also have that optimism of a lot of entrepreneurs.
Of matters -- right now we're heading into an election is it the corporate tax rate you get all anxiety written about something like that are you thinking even about.
Gee I'd like to create jobs with this next company what's in your mind.
I think with I mean more more immediate with what we're doing -- -- -- capital as we took out 5000 square feet in Manhattan.
And we're looking to bring portfolio companies like some zero in.
That we can help update today at -- but also give them.
And environment to build and grow because right now it's it's hard to really tell.
If -- four person start up we're gonna be in six months to a year so.
To go through the process of the -- and finding a place to actually find home.
Is can be a big distraction.
I guess what I'm asking is does the current climate there's a lot of negativity out there does that affect you does it weigh on your mind at all I don't know what's gonna happen with the fiscal cliff we talk about that a lot here I'm just trying to get a read on whether.
We think too much about that when guys like you were really just looking for good ideas to invest in.
Yeah yeah but look -- -- habitat task -- hand so.
Companies like some zero we have other issues to worry about and balance of crime than the larger global macro economic situation so.
But I think there's a real value proposition -- so in the end I think it's it's gonna work out despite who's an officer who's -- -- -- both very all three of you really very well known originally because of the characters based upon you from the social network movie and that and I guess.
The C I have -- my personal take was -- You guys have the idea that that's not what other people may think differently but I guess the question would be if things have turned out differently you -- control.
We'll be different about FaceBook right now and I noticed -- stocky want the company to obviously do well.
But what what would be different.
In the form that it sent.
And every time I asked Tyler question you -- to cameras -- I'm next.
I mean I think you got except that it's of a business and that you wanna be a business because.
You -- -- make revenues apply that to make a better product for users so I think there's been probably too much rhetoric about.
-- not being -- business and I don't think Wall Street.
Likes that so.
And I think being proud of the fact that you're trying to build a great product in a business go hand in hand because you can't have a great product.
Without the resource to -- back into -- so I think that.
Being be okay with that accepting that this is perfectly fine I think there's a lot of to Tyler's point rhetoric about but we're just focus on the user experience and I think that the bottom line is very important.
Bottom line of money and monetize and we keep hearing that word but in the end you wanna see FaceBook do well correct.
We think it's it's a valuable.
Product I think that it it has its place.
So -- you know I'm happy to see it succeed for sure.
Good to see all of you good luck with some zero.
Thank you our thanks to Cameron and Tyler -- -- -- -- cost capital and did the Birendra co-founder and CEO some zero and the they're looking for good.
