The Tontine Coffee-House blog post details the history and inspiration behind its name, referencing the original Tontine Coffee-House established in 1792 as a hub for merchants, politicians, and underwriters in early New York City. It highlights the coffee-house's role as a center for news dissemination, business dealings, and social connection, emphasizing its vibrant atmosphere fostered by lively debate and information exchange. The blog's founders aimed to recapture this spirit of open discourse and intellectual engagement in the online realm, creating a platform for diverse perspectives on financial markets and economics. They specifically mention the goal of providing a space where professional investors and armchair enthusiasts alike could engage in constructive discussions without the restrictions often found in more formal settings.
In an inaugural blog post dated October 15, 2018, the creators of the nascent online publication, "The Tontine Coffee-House," meticulously articulate their vision for a distinctive platform dedicated to fostering erudite discourse on financial markets and the encompassing field of economics. Drawing inspiration from the historical Tontine Coffee-House of 18th-century New York, a renowned hub where merchants, traders, and other astute minds congregated to exchange information and conduct business, the contemporary digital iteration seeks to emulate that spirit of intellectual exchange. The founders explicitly eschew the sensationalism and superficiality that often permeate financial journalism in favor of a more profound, analytical approach.
The post elaborates on the core principles underpinning the platform, emphasizing a commitment to rigorous, evidence-based analysis, presented in a manner accessible to a diverse audience, including both seasoned financial professionals and those with a burgeoning interest in the subject matter. They aspire to cultivate an environment conducive to thoughtful debate and the exploration of nuanced perspectives, recognizing the multifaceted nature of economic phenomena. The post specifically highlights the importance of historical context in understanding current market dynamics, underscoring the enduring relevance of past events and trends.
Furthermore, the founders express a desire to transcend the limitations of conventional financial commentary, often characterized by short-term, speculative pronouncements, and instead focus on long-term structural factors that shape economic landscapes. They envision "The Tontine Coffee-House" as a virtual gathering place for individuals seeking informed insights and considered analysis, fostering a community of engaged participants. The post concludes with an invitation to readers to join the conversation and contribute to the collective pursuit of understanding the intricacies of the financial world and the broader economic forces that govern it. The authors anticipate a platform characterized by lively exchanges, the sharing of diverse perspectives, and a mutual commitment to intellectual rigor.
Summary of Comments ( 0 )
https://news.ycombinator.com/item?id=43752206
Hacker News users discussed the history of the Tontine Coffee House and its role as an early "stock exchange." Some highlighted the building's later use as a customs house, emphasizing the changing nature of New York's financial center. Commenters debated the practicality and fairness of tontine schemes, with some drawing parallels to modern investment practices. Several comments pointed out the importance of social connections and physical spaces in early financial markets, contrasting the face-to-face interactions of the Tontine with today's electronic exchanges. The building's architecture and location were also topics of discussion, with some users lamenting its demolition. Finally, the etymology of "tontine" and its usage in different contexts were briefly explored.
The Hacker News post titled "The Tontine Coffee-House (2018)" has a moderate number of comments, discussing various aspects related to the history of the Tontine Coffee House and its role in early American finance.
Several commenters delve into the mechanics and implications of tontines as an investment vehicle. One commenter highlights the inherent gambling aspect of tontines, where the last surviving members receive the accumulated benefits, leading to speculation about potential incentives for foul play. This comment sparks further discussion about the historical context and the likelihood of such occurrences. Another commenter points out the mathematical complexity of calculating the expected value of a tontine share, especially in the 18th century before sophisticated actuarial science.
Some comments focus on the historical significance of the Tontine Coffee House as a hub for merchants, underwriters, and brokers, foreshadowing the development of the New York Stock Exchange. One commenter draws parallels between the informal gatherings at the Tontine Coffee House and the later establishment of formalized exchanges, emphasizing the role of social networks and trust in early financial markets.
A few commenters express fascination with the historical details presented in the linked article, such as the architecture of the building and the social customs of the time. They discuss the role of coffee houses as centers of information exchange and social interaction in the 18th century.
There's also a thread discussing the etymology of the word "tontine" and its origins in 17th-century Italy. This leads to a brief discussion about similar financial instruments in other cultures and historical periods.
Finally, some comments offer further reading suggestions related to the history of finance, New York City, and the development of stock markets. These suggestions point to books and articles that explore the topics raised in the original article in greater depth.
While not a highly active discussion, the comments on the Hacker News post offer interesting insights and perspectives on the historical context and significance of the Tontine Coffee House. They expand on the article's content by exploring related themes, providing additional historical details, and suggesting further avenues for research.