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Dub: The copy trading app that has teens talking
Social media changed everything from news consumption to shopping. Now, Dub thinks it can do the same for investing through an influencer-driven
As a Harvard student during the pandemic — one who was trading from his dorm room “because you couldn’t really do anything at school” — Wang came to believe these two trends, retail investing and influencer-driven decision-making, were on a collision course. Between the Gamestop saga, Elon Musk’s ability to “move the Dogecoin and Bitcoin markets with every tweet,” and people’s willingness to “really follow ideas and individuals to a whole new level,” Wang decided to drop out in 2021 and start building Dub. The biggest knock against such platforms, says critics, is that stock picking underperforms passive investing over the long run, with studies showing that most actively managed funds fail to beat the S&P 500.
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