Fireside chat: Harley Miller, Founder and Managing Partner, Left Lane and Adam Dodds, CEO & Founder, Freetrade. Wed 28 Sep, 8 PM 🔥

Hi everyone :wave:

UPDATE: Link to join the call Launch Meeting - Zoom

We’re excited to announce a fireside chat style conversation next week with Founder and Managing Partner at Left Lane Capital, Harley Miller, and Freetrade CEO & Founder, Adam Dodds.

Left Lane is an investor in Freetrade having led the Series B in early 2021 and also took part in the 2022 loan note.

A growth equity firm focused on high-growth, high-retention internet & consumer technology businesses, Left Lane is focused on opportunities across North America, Europe, Israel and emerging markets.

Harley will join @adam on a Zoom call at 8 PM on Wednesday 28 September (please note this has changed from the previous date of Tue 27 Sep).

As usual, we’ll share the link to the call here shortly before 8 PM on the day.

Drop your questions below and we’ll do our best to answer as many as we can on the night :point_down:

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Awesome thanks for doing this Adam and Harley!

Question for Harley:

As part of your investment at Series B, what milestones did you set for Freetrade’s Series C?

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I found out about FreeTrade from Ben Morris on YouTube and have been loving it ever since but I’ve not seen any ads this year about FreeTrade…will there ever be more?

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Hi Harley

I am one of FT biggest supporters and me and my wife individually have invested a lot of savings. A number of my friends have invested significantly more than us.

However, I fear my investment and theirs is in the balance. Maybe its just the economic uncertainty playing on my mind unnecessarily.

Can you reassure me with your knowledge that i have nothing to worry about?

Can you explain how happy you are with the performance of management and product development and market expansion on a scale of 1 to 10? 1 being unacceptable and 10 being beyond expectations.

Cheers

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Thanks for the opportunity!

Questions to Adam and Harley:

  1. Stance on the Payment For Order Flow (PFOF)

Would be great to hear Harley’s view on PFOF and if he thinks that the practice will end up getting banned? If I understood correctly one other portfolio company of LL has PFOF as one of the revenue streams. Would be interesting to hear your thoughts on this.

If possible separate the discussion into US and Europe

  1. What’s your view on FT’s competitive landscape in Europe?

How do you attract customers in the biggest markets in Europe when an extremely well funded German competitor offers trades of any size at a cost of 1eur with mostly similar product.

Have you and Adam benchmarked the value proposition of FT to what’s already offered in Europe by the competitors? What was the result?

  1. How happy are you with FT’s execution post series B (roadmap delivery)?

  2. What are the FT’s biggest strength and biggest weakness at the moment as a business?

  3. What will convince you to invest in FT’s series C?

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What features do you want Freetrade to release as a minimum in the next 12 months?

Have you set any AUA or user based targets? If so, what?

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As much as I am in the same boat as you and I desperately want to be reassured I can’t imagine you getting a sensible answer to this.

“Hey, during the current crowdfund raise where we are trying to attract more investment can you let me know if it’s all going to fail? Honest answers only please”.

:crossed_fingers:

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After the Series B Adam said that the VCs would be unhappy if they didn’t launch Crypto by end of 2021 - it’s nearly the end of 2022.

What’s your thoughts on the delay?

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Why is there so many open topics asking what we want. I keep seeing people repeat themselfs on multiple threads.

Hummm

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Oof - these questions are all pretty hardcore so far! Give them a break, ask them what their favourite breakfast cereal is or something! Anyway…

Hi Harley. Professor Scott Galloway has spoken numerous times about a whole generation working in finance for the last decade who may never have experienced a proper crash or bear market and have only really had to deal with stagnation and/or a tech bubble that felt like it was going to grow forever. I can’t work out your age (without cutting you in half and counting the rings) so I’m not sure if you were active in the workplace in 2008.

Do you share Galloway’s concerns and, if this is your first downward rodeo, how are you trying to keep a positive outlook especially when you’re investing in pre IPO companies which have a high failure rate even at the best of times?

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  1. Adam, given the dramatic shift in global outlook, significant material uncertainty and what looks to be a challenging operating environment over the next 12-18 months, where do you see the biggest hurdles to execution of the strategy, and how do you envisage overcoming these? (to the extent you can share)?

  2. Harley, related question on outlook; we’ve seen a dramatic correction in public market valuations for tech and tech enabled FS firms, and to some degree we’ve seen this cascade into private space, yet there’s a widely held view that we’ve got a lot further to go before current valuations reflect ‘reality’. I would love to hear your perspective on this and how this translates to the house view on of exits and acquisitions.

  3. Finally, for both: following on from @CashCow excellent q on breakfast cereal: lucky charms or fruit loops?

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Do you think the current pricing model of Freetrade e.g., free, standard, plus with current growth trajectories will result in a net profit for Freetrade? Or do you feel restricting the free (GIA account) so early on in the growth phase was a bad move?

Speaking from personal experience, I (standard) still use Freetrade. 4 people I recommended (GIA account) closed their accounts after the recent pricing model change and moved elsewhere.

Genuine question by the way, I love Freetrade!

Thanks :slight_smile:

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FYI, the stated reason was because they were still learning the ropes but felt the walls closing in on stock accessibility. E.g., losing access to the American stocks.

Hope you can join us at 8 PM tonight for the call!

We’ll share the Zoom link on here shortly before 8 PM, as usual.

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How do you separate the performance of a business and the valuation? Milestones are normally used to assess the valuation but when the market takes a tumble it would be good to hear how you adjust your thinking.

Can you talk a little about how what you feel you’re able to bring to Freetrade?

How important is it for You / Left Lane to lead an investment round?

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Congrats on the $1.4bn fundraise! How attrative do you feel fintech is in relation to other consumer tech businesses?

Will the recent weakening of the pound impact your investment decisions?

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Link to join the call:

Hello,

It’s says that we need a password

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Passcode: 228206

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