I’d lean more toward people being bias toward round numbers or round share %.
Here’s some percentages:
13% invested the minimum £10
16% of pledgers were able to invest
26% invested the full £1000
34% invested up to the equivalent of equal share investment (£60)
36% invested £500+
49% invested <= £100
60% invested £250 or less
The five highest chosen amounts were £1000, £100, £10, £50 & £500 making 71% of investments.
Interesting that only 77% of investors have a monzo card … does that mean almost a quarter of the investors have never even used the product they are buying into, and are just out to make quick money for themselves from an investment opportunity?
£1.9m or 78% of crowdfunding was raised by £1000 or £500 investors.
The 34% of investors (see above) raised £57k or 2%.
To have the security of raising a large enough amount from a few richer? people, there needs to be a limited pool (smaller than any definition of loyal customer).
You can’t say all 41k would want to invest a low (yet moderate) amount to let everyone invest, which might leave a shortfall. In fact it is also 34% that invested £10-£50 (less than the £2.5m/41k = £60).
We don’t have one planned anytime soon, but would really like to do another one at some point
I agree to some extent, but having something first isn’t necessarily the benchmark for loyalty (think of all the people who couldn’t make it to our offices in London for the first early Alpha rollouts, but who would have loved to try Monzo out.) Giving priority to those who use the card more regularly makes similar assumptions that the most ‘loyal customers’ all have the same spending habits. There are plenty of reasons someone may wish to split their budget and monthly spend between their Monzo card and another account.
I don’t think it should be up to us who is ‘worthy’ of investing, which is why random selection seemed like the most democratic way to do this.
also you can’t just judge loyalty on the number or value of transactions as that just judges a person’s financial wealth (be it earned or inherited). A person with a lot of transaction or high value transactions may not be loyal and could be spending ten times that amount thru a competitor. A loyal customer may have little disposable income and make few payments on their card as a result, but still be one of your biggest advocates. Issuing accounts or shares on a random basis is much fairer than making a judgement as to a customer’s worth