Why Charles Schwab Is Letting Customers Trade for Free

The transcript discusses Schwab's transition to offering free brokerage services, drawing parallels with Google's success in providing free search. It explains Schwab's business model, which focuses on generating revenue through other financial services despite offering free transactions. The company has grown into a financial services conglomerate with $3.7 trillion in assets under management. Initially, Schwab did not envision becoming a conglomerate but aimed to serve a niche market of individual investors seeking simple transactions.

What was the initial commission rate mentioned in the text before it was reduced to zero?

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How did the speaker compare their business model to that of Google?

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What percentage of revenue was the company giving up by offering free services?

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What services does the company provide beyond discount brokerage?

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What was the original view of the business's potential customer base?

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