I've seen some unfair comparisons between #Footstock and FI recently. FS is only one year old. At this point in FI's history, Neymar was priced under £1 (pre share split, so effectively 33p) and the only payout was a daily 5p media dividend to the top placed player. Give it time!
This was the interface. It wasn’t particularly slick. There was no instant sell so you had to rely on shifting your futures to another trader - but the market was thin so that could take weeks. There were only 200 players - the cheapest 2 dropped out and were replaced every week.
If you were holding shares at the bottom and couldn’t sell them - you lost all your money (RIP my 25p Brahim Diaz futures 😁)
Football Index was also constantly slated and ridiculed on Twitter as a scam, inherently flawed, boring. My friends thought it sounded stupid and told me I was throwing my money away on a pyramid scheme. Years later, many of them have sheepishly joined.
The charges being levelled at Footstock by the more stubborn FI traders have some merit. It’s still a thin market, the UI needs improving, its an inherently risky investment. But all of this was true of FI in 2016. It was a start up and it succeeded.
Many of the people mocking and slating Footstock today would have also mocked and slated FI one year in. Personally I think it’s a great concept, really intuitive, a credible growth path, and is responsive to feedback. I’ve stuck with FI longhaul and I’m doing the FS longhaul too
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