Everything Jannick Malling said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Malling: Stopping hiring increases output due to employee onboarding curves
“And when you stop hiring, you have higher output because all of your time, like every employee is in the J curve, they actually take time before they start being productive.”
Malling: Movies like Wolf of Wall Street hurt societal investing adoption
“I think Leo with the Wolf of Wall Street, like, I think you see a lot of this. All these movies are just fantastic. Which is fun, but it's also kind of shitty for the rest of, for sort of, like, societal adoption of this stuff because it portrays the stock mar…”
Malling: Public.com users speculated less than users on Robinhood
“And that, sorry, and that actually meant in turn that people were speculating less, because I think on platforms like Robinhood and others, you were kind of seeing some people getting into a lot of, like, single, like, high concentration risk portfolios, maybe…”
Malling: Public targeted non-investors via Girlboss for high conversion rates
“So we went out to like professional women's communities, right? We parted with like Girlboss, for example. Sofia Moroso's thing. People who've never invested before, Just went in front of them cold and be like, we built this. If you want to invest, we think th…”
Malling: Public.com was the first trading platform to offer fractional shares
“We were like the first to do the whole first trading platform to do fractional shares”
Malling: Formula One provides scale equivalent to twenty Super Bowls annually
“No, look, I think what's interesting about the Formula One is, it is the only sport that I can really think of that has scale, and has this sort of thing where whenever Formula One comes into town, it's the whole show, right? It's a Super Bowl event, 20 times …”
Malling: Public shifted upmarket from Robinhood to target serious investors
“We are competing with Robin Hood. I do think though, as the years have gone on, we've become a little bit less competitors. I think we focus a little bit more Sort of higher end of the market. People that want to take investing a little bit more seriously.”
Malling: Companies must find PMF multiple times as technology shifts
“Having to find product market fit sort of multiple times in the journey of a company, typically around the same evergreen problems, but there can be a different solution to that problem that emerged over time with different technologies and such.”
Malling: Public was first to offer real-time fractional shares
“We were the first to actually do that real time thing that didn't exist before.”
Malling: Real-time fractional shares drove 60% to 70% DAU/MAU on Public
“That is really what kind of clicked with people. That's when you start to see, you know, daily active usage that was like 60, 70% on the down mile ratio basis, right? And super, super high retention, super high engagement”
Malling: Self-directed investing is a forcing function for financial literacy
“Investing is a forcing function for building a lot of financial literacy. You start to understand politics. You start to actually become a little bit more objective about politics, in my opinion, because you're looking at it purely from a lens of like, how doe…”
Malling: Competitors copied Public's fractional shares feature within 18 months
“And, you know, over time, a lot of people basically almost all, I guess, kind of copied that feature inside a year, maybe 18 months.”
Malling: Brokerages with social feeds eliminate fake stock screenshots
“If you post something to the feed, we as public have all, like, we've validated that you've actually bought it. And what was going on in a lot of these forums is like a lot of anonymous people just pumping and dumping stocks, and you have no idea if somebody r…”
Malling: Public grew its user base 50% to 100% monthly for three years
“The user base was growing 50 to a hundred percent every month. And that compounds a lot when you do that for three years in a row, and so you're just really trying to, like, scale the platform”
Malling: 98% of trading platforms launched around 2021 have closed down
“We are one of the few few ones left standing because I kid you not, 98% of them have closed down. And maybe there was only about a hundred, so, like, that's pretty easy, man.”
Malling: Public.com remains the only platform offering fractional bond trading
“Funnily enough, because we're the only ones that still have that, and so obviously that's been a great differentiator for the last couple of years, especially as yields have gone up”
Malling: Public's first deposit metric grew 25-30x over 18 months
“There was like a one specific 18 month period where I think it went up 25 or 30 X or something.”
Malling: Public doubled its user base in 40 hours during GameStop
“GameStop was like, we doubled in 40 hours or something.”
Malling: Public.com has millions of users
“In the millions.”
Malling: Lehman Brothers signed as first LP before collapsing
“And our first LP was Lehman Brothers.
[286] Podcast Host: Oh, wow.
[286] Podcast Host: Ok.
[287] Jannick Malling: Well, which we never saw the money, but they signed.”
Malling: First B2B platform reached multi-billion daily volume before sale
“Eight years later, we'd scaled that to a multi-billion a day volume platform, sold it to a public traded company in the UK.”
Malling: Buying top 10 S&P 500 stocks pre-fractional shares cost $15k
“Buying the top 10 stocks in the S&P 500 at the time would cost you 15,000 dollars. So that's why people got to this thing of like, yeah, I need to save up money and then make the big leap.”
Malling: Public.com metrics jumped 5x to 10x after launching fractional shares
“Like we launch it after Labor Day. We've got all the dashboards set up. And literally it's just one of these things where you go and you refresh the dashboard after the first day, after the first week, and All the metrics are just up and to the right. Five, 10…”
Malling: Public.com reached one million MAUs in roughly 18 months
“How fast did you hit maybe a million MAUs or whatever?
Probably 18 months, two years. I mean, GameStop was a step change, right? So it was all around there. So yeah, call it those kind of 18 months.”