Be VERY Careful with Follow Invest!
Extremely inexperienced couple of individuals who are woefully undercapitalized are taking a crapshoot here with a really weak business model. The model seems stuck in eternal beta, although the company desperately wants to appear open for business. A very questionable couple of characters with no marketing plan or budget are trolling other established companies trying to poach talent with little success The tiny number of "Leaders" (a Leader is anyone with the patience and time to waste in the onboarding process) has shrunk by 20% since February 2023 to August. This model probably needs tens of thousands of subscribers for maybe 500 Leaders to come close to viability. Do the math with subscriptions averaging less than $10 monthly for only 20 Leaders. That's correct, Follow has actually shrunk from 25 to 20 Leaders when it may need about 500 leaders to become viable. Monthly revenues for this beta - launch are likely less than negligible. Not every idea should be funded, especially after the bear market of 2022 decimated the young retail investor that Follow is targeting. Trying to launch the wrong model at the wrong time with a pitifully low amount of capital is pretty much a recipe for failure. Yeah, but it gets worse with several of those Leaders actually losing money in their track records so far in 2023. You may ask, "How does a Leader manage to lose money in such a strong bull market bounce in first half of 2023?" Yeah, good question. Follow has to answer that question for themselves. Anyway, it's not just the recovery of your capital in case the business model fails that you need to be concerned about. The company is slow to disclose the RIA registration details to new Leaders, likely because they have learned that professionals do not want to be exposed to the risk and liability that exists for Leaders associated with Follow. It is not clear whether the improper registration or conduct of the company, or from other Leaders can impact all the Leaders associated with Follow. The inexperienced kids playing with this beta launch do not have securities industry backgrounds. The one part time attorney on board is begging for help from outsiders to help him get more billable hours from insiders. The attorney may see the company's direction and likely wants to make bank before the small amount of startup capital is gone. This crew of a few marketing guys who may have spent too much time on the party scene in their day have sold themselves on an unproven model that a veteran in the industry could have told them was a horrible mistake. These guys somehow managed to persuade a gambler to fund them with a very small amount of capital. Maybe the lack of success by the beta launch will cause the company to pivot to some kind of an AI based model. That's where any potential future success for this project will come from imho. Less overhead with a lot more potential to achieve scale with an AI based model. In the meantime, both investors and professionals have a right to know the potential risks associated with any kind of relationship with Follow Invest. I have done my due diligence on this company, and in my opinion it is not ready for launch in the marketplace. Both Leaders and Investors may be exposed to risks that are not fully disclosed by this desperate couple of characters playing the compliance and CEO roles at this beta stage project. Be VERY careful with this extremely risky business model.
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Hands down best app ever
I don’t know what my life was before this app!!!!! i feel so comfortable investing now thanks to follow invest 💯💯💯💯💯💯
Response from developer
Thank you so much for taking the time to share your positive experience with our app. We are thrilled to know that our App has helped you. It’s great to know Follow Invest has helped you with your investing goals.
Great App!
I can’t say enough good things about this app. Such an ingenious idea… this is going to change the game of investing. The future is bright!
Response from developer
This review made our day, Faybaby! Thank you so much for taking the time to share your feedback.
Hands down best trading app EVER
This is seriously the smartest idea ever. I’ve been waiting for something like this to come out for the longest time. Thank you so much for the Follow team for making this happen!! Can’t wait to trade with my favorite finance influencers !
Response from developer
Thanks for the review Dean! We appreciate the feedback. More to come!
