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Disclosures

Last updated August 14, 2026 · Beta

Thesis takes pride in explaining things clearly, so these disclosures are written to be read, not skimmed past. They apply to everything in the app, every day, for everyone.

1. Thesis is a research and education tool

We help you understand assets. We don't tell you what to do with your money, and we can't execute trades even if you wanted us to.

Thesis, and everything in it, is provided for informational, educational and social-discovery purposes only. Thesis is not a broker-dealer, investment adviser, exchange, funding portal, bank, or fiduciary of any kind, and is not registered with the SEC, FINRA, the CFTC or any other financial regulator. You cannot buy, sell, or hold any security or digital asset through Thesis — by design.

2. Nothing here is investment advice or a recommendation

No screen in this app means "buy this" — including the ones that show what's popular.

No content in Thesis — prices, charts, metrics, plain-English explainers, "starter packs," red-flag notes, news, recaps, streaks, standings, packs, or friends' activity — is investment advice, a recommendation, an offer, or a solicitation to buy or sell anything. Content is generic and is not tailored to your financial situation.

In particular: popularity is not merit. Surfaces that show aggregate activity ("3 of your friends read up on NVDA," "today's action") describe attention, not quality, value, or expected returns. Assets that are heavily researched, trending, or moving sharply can and regularly do lose value. Decisions you make are yours alone; if you need advice, talk to a licensed professional (a starting point: investor.gov).

3. Where our data comes from — and its limits

Data can be delayed, approximate, or clearly-labeled sample data. Check your brokerage before acting on any number you see here.

  • Live mode: stock, ETF and index data comes from publicly available market-data endpoints (via Yahoo Finance); crypto data comes from CoinGecko; sentiment gauges from alternative.me; headlines from public feeds of their named publishers. Quotes may be delayed (typically up to ~1–15 minutes) and can contain errors we don't control.
  • Sample mode: when live sources are unreachable — or in test deployments — Thesis shows deterministic sample data anchored to real market values from a labeled snapshot date. Sample data is always marked with a visible “sample” badge. It exists so the app stays legible, never to simulate live markets.
  • Fundamentals (market cap, P/E, revenue history, supply figures and similar) are snapshot approximations, refreshed periodically, and can be out of date or imprecise. They are directionally useful for learning, not filing-grade.
  • "Today, in context" notes are generated from data patterns (size of move vs. history, market direction, earnings proximity). They describe context — they do not and cannot explain the true cause of a move.

All data is provided "as is," without warranty of any kind — express or implied — including accuracy, completeness, timeliness, or fitness for a particular purpose.

4. Packs are lists made by people, not recommendations

Anyone can publish a pack. A pack appearing here is not a Thesis endorsement, is not vetted, and is not advice.

Packs are user-made lists of assets. Public and friend-shared packs are created by other users, not by Thesis. We do not review, verify, endorse or rank them for quality — “trending” measures how many people saved a pack, which is attention, not merit. A pack's author may hold, or not hold, anything in it; we never ask and there is nowhere to say. Packs may only contain assets already covered by Thesis, and publishing is rate-limited, but neither of those makes a pack good, safe, or suitable for you. Treat a pack as a reading list someone made — a starting point for your own work, and nothing more.

5. Social features show attention, not endorsement

Friend stats are aggregate attention-signals from people who opted in. They are not tips, and they're intentionally impossible to trace to one person.

Friend insights are computed only from people who opted in, only in aggregate (minimum cohort of three sharing friends; minimum two people behind any count), and never reveal an individual's activity, holdings, or finances. Thesis has no idea what anyone owns — we never ask, and there's nowhere to enter it. A friend researching an asset tells you exactly one thing: they looked at it.

5. Investing involves risk

You can lose money — including all of it, especially in crypto. Nothing about this app changes that.

Markets go down as well as up. Past performance — in a chart, a recap, or anywhere else — does not predict future results. Digital assets are exceptionally volatile and can lose most or all of their value; several assets covered in this app are down 50–95% from their peaks, which is part of why we cover them honestly. Never invest money you cannot afford to lose.

6. Beta software

Thesis is beta software operated for a small test community. Features may change, break, or disappear; data may be reset with notice. Please report anything that looks wrong — bad data erodes exactly the trust this product is built on.