Apr
08
2008

  Cake Elite

I was on my first "Cake Elite" conference call this afternoon. They are smart to be involving the users early in the process. There were some things they plan to roll out that involve summarizing user activity, but it hadn't occurred to them that the information would not be particularly useful as they planned to present it. Sure you could list the securities with the highest buy or sell activity for the day, but so what? I pointed out that just because a stock is wildly popular among the day-traders in Cake and is at the top of the list doesn't mean it's a good investment for people looking for securities to buy for their retirement fund. I also suggested they include some tutorials to help inexperienced investors interpret some of the data and other advice. I mentioned it was a pet peeve of mine when the media present financial information as universal when in truth it is only relevant from a particular perspective. The other panelist is a new investor, and I enjoyed listening to his comments also. Completely different perspective than me, he wants a lot of personal interaction with other users (which I vehemently want to avoid). But there were plenty of things we both agreed would be useful (if perhaps for different reasons). I think it was a productive call. Cake is rolling out some new features on Thursday, I'll be sure to check them out.