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There are a lot of reasons, but here are the two largest:

1) We've modeled how much we could make as a "hedge fund". We think we could turn $500k into another $500k in a year. We'd need to raise money to be able to do that. The upside for the business in its current form is far larger. This is an industry with huge transaction fees--a "round trip" transaction of buying and then reselling a ticket on StubHub will cost you at least 30-35% of the purchase price. Just because you can accurately forecast prices doesn't mean you can become an instant millionaire.

2) Buying and selling tickets is a far cry from trading stocks. You have to hire a staff to actually open envelopes, manage the physical inventory, deal with individual buyers, make runs to FedEx, etc. There are thousands of brokers out there who have mastered these logistics, whereas we have no experience with them. So we'd prefer to serve as a platform to enable all those brokers to make money, keeping a cut for ourselves.

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