#51 Commonstock: Building the Investment Platform to Rule Them All | David McDonough, Founder & CEO

In Episode #51, we explore building a social platform for stocks. We’re joined by David McDonough, founder and CEO of Commonstock. We cover the future of social investing, making investing accessible to all, and the NFT movement. “The loudest voices in the room are seldom the best investors, the people sharing the best knowledge. Sometimes the people who are the quietest are sharing some of the most interesting insights.” – David McDonough EPISODE GUIDE (LINKS, QUOTES, NOTES, AND BOOKS MENTIONED) https://www.danielscrivner.com/notes/david-mcdonough1-outlier-academy-show-notes  FULL TEXT TRANSCRIPT https://www.danielscrivner.com/notes/david-mcdonough-outlier-academy-transcript  CHAPTERS This episode is our definitive guide to building a social platform for stocks. In it we cover: (00:00:00) – Introduction (00:01:35) – David’s background leading to Commonstock (00:06:00) – Commonstock’s mission and setup (00:10:20) – How Commonstock is serving modern investors (00:19:13) – The future of social investing  (00:24:59) – Making investing accessible to all (00:33:22) – The NFT movement (00:44:22) – Lessons for new entrepreneurs ABOUT COMMONSTOCK Commonstock is building the data and communication layer that can sit on top of any investment account. Members can hook up everything from their crypto positions held at Coinbase, to their stock in option positions at Robinhood or Interactive Brokers, alongside things like their retirement account to get a complete picture of their assets and how that unlocks anyone to be able to share the investments they're making as transparently as they'd like while following the trades of others and learning from the smartest minds on the platform. 💌 FREE NEWSLETTER https://www.outlieracademy.com/newsletter 🎙 LISTEN ON iTunes: https://podcasts.apple.com/us/podcast/outlier-academy/id1523851182 Spotify: https://open.spotify.com/show/58edVNgqaPNaCSGSxM6pef?si=88f37a5d20434775 Overcast: https://overcast.fm/itunes1523851182 ABOUT OUTLIER ACADEMY Learn timeless lessons on work and life from iconic founders, world-renown investors, and bestselling authors. Outlier Academy is the forever school for those chasing greatness. Past guests include Gokul Rajaram of DoorDash, Scott Belsky of Benchmark and Adobe, Joey Krug of Pantera Capital, Mark Sisson of Primal Kitchen, Luke Gromen of The Forest for the Trees, and Brian Scudamore of 1-800-GOT-JUNK. Website: https://www.outlieracademy.com Twitter: https://www.twitter.com/outlieracademy ABOUT DANIEL SCRIVNER Outlier Academy is hosted by Daniel Scrivner. Over the last 15 years, Daniel has led design teams at Square and Apple, turned around a $3M+ ARR SaaS business, and invested in more than 100 companies. He launched Outlier Academy in 2020 to learn from the world’s best founders, investors, authors, and peak performance experts. Website: https://www.danielscrivner.com Twitter: https://www.twitter.com/danielscrivner Learn more about your ad choices. Visit megaphone.fm/adchoices