[bastijn]

Not the author or related in any form. Maybe if this thing would be accepted as the verified proof it could back your claim when investing. Speed up the process a bit as you have immediate proof you have some form of worth.

Problem is of course a single net worth number says nothing about liquidity or any of the zillion other aspects that you would be required to prove in such a scenario. Unless the app business model diverts and becomes a tool investors can use for exactly that issue. I.e. It isn't a net worth tool anymore but a full investor guarantee/check thing. Not sure how that would work but for sure many investments end up in nightmares because it turns out the investor didn't have the actual money they claimed to have to invest.

[g82918]

So very recently there was an article about an SAAS provider baremetrics having to do a ton of due diligence for a buy that never happened. I own parts of a few properties that aren't publicly traded. Find my net worth(a real estimate without lawyers and months).

[bastijn]

Not sure if you meant this sarcastically, I guess you do. However, if such a tool would exist, taking away the hassle of due diligence or at least beforehand (before starting due diligence) prove you are a credible investor it could save a ton of work. If you had some way of knowing that your due diligence work and accompanying costs would not go to waste because of the opposing party not checking out, that would be value. Note it doesn't need to give an accurate, to the dollar net worth as long as it flags you as credible investor.

Not saying anything about the complexity of building such a tool.

[g82918]

Kinda my point. If he has this tool it is a potential game changer. If not, why publicize a dumb tool that scavenges my bank account and posts that publicly? Where would I derive value from that? I basically think the product is shit, and degrading and worthless at best, but am trying to provide direction.

[bastijn]

I do not think the author had this idea in mind. They got a free business advice ;).

[jonward]

Love the energy, its a tool for the instagram generation.

[jonward]

Good thinking, but the app is not mature enough to validate someone's legitimacy as an investor. This is really focused on the social media crowd right now.

[bastijn]

Sure, got that. Yet, all businesses pivot at the start to find the right market ;).

Regarding instagram crowd, you could consider adding tiers without showing the actual net worth in numbers. E-peen of having a golden instagram profile picture or whatever (with link to actual profile to proof you didn't photos op it). Might be interesting to more people who want their actual value to stay hidden.