The terminal has been so successful largely because of timing and damn good execution. Mike was at the right place at the right time with changes around the financial industry and move to digitization to capture the uplift these brought to the product it has become. It created cloud computing and social network before those terms were officially defined.
Its distribution is such that any new startup hedge fund for example has to have one to be taken seriously by its investors and to deal effectively with brokers.
Other firms continue to try to beat it and in some sectors for certain functions they have but no one really has hurt it in its entirety... Thompson Reuters now Refinitiv has had best shot but honestly it's barley left a dent.
Its distribution is such that any new startup hedge fund for example has to have one to be taken seriously by its investors and to deal effectively with brokers.
Other firms continue to try to beat it and in some sectors for certain functions they have but no one really has hurt it in its entirety... Thompson Reuters now Refinitiv has had best shot but honestly it's barley left a dent.