The Problem for Goldman’s Symphony

A hedge fund told Institutional Investor: “…Goldman thinking we would entrust them with our private messages … is absurd … It’s hard enough sending them our orders, knowing they’re milking us in some way. God knows what they would do with our messages.”

Symphony — the “Goldman” messaging vehicle — also wants to expand to provide messaging services to other industries, in addition to finance.

But the hedge fund attitude cannot be music to the ears of the firms that provided Symphony with seed capital. This is a big hurdle to adoption.

Will other industries feel the same way that hedge funds do? Should they?

What do you think?