There exists an interesting paradox amongst millennials: they are extremely hesitant to invest the money that they save, yet they have an intimate knowledge of a profitable asset - internet companies. We were inspired to create something to help young people get started investing their money. Most stock trading applications are complicated and intimidating, which deters people from investing. People do not realize that the knowledge they've acquired day to day - simply by using their smartphone - is incredibly useful to the world of investing.
What it does
FortuneCookie offers a simple, fun solution for people to get started investing in the stock market. The app monitors where you spend time on your smartphone, from browsing social media to shopping online. After each month, it sums your time spent on apps operated by publicly traded internet companies (such as Facebook or Amazon) and creates a portfolio based on this breakdown. The app then automatically invests in this portfolio distribution, and reinvests accordingly each month. The more time you spend on a given app, the more shares the app buys on your behalf.
How we built it
We built the app with Android Studio using Java. We used a variety of mathematical and financial techniques to yield the calculations we display to the user.
Challenges we ran into
One issue we ran into was effectively determining the proper metric to use when calculating the portfolio breakdown. Total time seems most obvious, but clearly a person on average spends more time on social media or online entertainment than e-commerce.
Accomplishments that we're proud of
Integrating a plethora of APIs to not only track time spent on each app but also engagement within each app. As we were able to construct a more robust image of the user, we were able to more effectively create a nuanced portfolio just for them.
What we learned
How to use libraries to automatically create portfolios and invest. There's lots of legal restrictions on investing, so managing these and integrating these hurdles within the app was a difficult but rewarding process.
What's next for FortuneCookie
Ideally, we would like to track all internet usage. This would mean a web browser plugin on a computer in addition to the app.