About Cassandra Toroian
The Founder of Firsthand Research & Consulting
Innovations and Vision
Under Toroian’s guidance, FirstHand Research & Consulting has embraced innovation at the intersection of sports and technology. She was an early pioneer in online brokerage in the late 1990s and continues to stay at the cutting edge, recognizing the transformative potential of AI as a powerful tool as well as, ultimately, Web3 and decentralized finance (DeFi) in today’s digital age . Toroian has driven the start-up to explore and build on the thesis of how AI can be used in very simple yet meaningful ways for consumers and amateur sports enthusiasts. Her commitment to innovation is also evident in her personal development and passion for lifelong learning. She earned a Python coding and machine learning/AI certification to better understand how to leverage data and technology to solve problems that affect large numbers of consumers. This forward-thinking approach led Firsthand to develop new solutions beyond traditional research; notably, the company has developed “Ruley, the E-Referee,” an ecosystem of AI-powered mobile apps for sports and games of all kinds, showcasing Toroian’s willingness to apply her team’s expertise in order to carve out a new category in sportstech.Through such initiatives, Toroian fosters a culture of continuous learning and adaptation, keeping the company’s offerings positive, and socially impactful .
Impact and Contributions
Cassandra Toroian’s impact within Firsthand Research & Consulting is reflected in the firm’s growing reputation and diversified projects. Over the past two decades, she has founded, grown and successfully exited several businesses. These experiences have guided Firsthand’s strategic growth and resilience. She is also the author of “Don’t Buy the Bull,” a book published in 2010 offering honest post-2008 investment advice, which established her as a thought leader. Prior to selling her last company, Toroian appeared on major media outlets like CNBC, Fox News, Fox Business, and Bloomberg TV for her expertise.Furthermore, Toroian’s ethos of empowerment and education permeates the culture of the team and product development like the Ruley the E-Referee sports rules ecosystem, the mission to democratize knowledge for wider audiences . In summary, her visionary leadership and innovative mindset have not only defined the company’s direction but also spawned these tangible products and educational content that seek to have a positive impact on society, by bringing people together with sports.
Leadership and Role
Cassandra Toroian is the Founder and Chief Executive Officer of Firsthand Research & Consulting LLC. In the last 18 months, Ruley, the E-Referee is an ecosystem of AI-driven mobile applications for sports. They are solving the very basic problem for new players, parents of youth players, and established amateur players. These categories all have the same thing in common, questions about the rules of their sport and scenarios that occur on the court or field. Co-founded by Cassandra Toroian and Tracy Thomas, Ruley, the E Referee pickleball edition is the first-ever AI-powered sports rules app.The app went live in late 2024, as the inaugural product in the Ruley, E-Referee ecosystem . Upon release, it was made available on both iOS and Android platforms, immediately providing users with a fast and accurate rule consultation tool on their smartphones and iwatches Users can input questions via text or voice, and Ruley delivers real-time, context-aware answers to rule questions based on a sport’s official rulebooks . This interactive design allows players to resolve on-court uncertainties (like “whose point is it?” or procedural doubts) instantly and fairly, reducing arguments and interruptions in play . Within its first few months, Ruley has already seen updates that expand its capabilities, as it gathers user feedback – for instance, a February 2025 update introduced an Apple Watch feature for even quicker, hands-free access to rulings and incorporated the latest 2025 rule changes. Launching as a pioneering product in a rapidly growing sport, Ruley’s debut represents a significant milestone in merging sports officiating with artificial intelligence.
Market Adoption and User Impact
Since its launch, Ruley has begun gaining traction among the booming pickleball market, which has experienced explosive growth in recent years. (By 2023 the sport was estimated to have over 13.6 million players in the United States alone. Ruley directly addresses a common pain point for these players – on-court rule disputes and uncertainties – making it immediately useful for recreational games, clubs, and even tournament settings. Early adopters of the app include amateur players seeking quick clarifications during casual matches, as well as pickleball enthusiasts who want to deepen their understanding of the game’s rules. The app benefits not only players but also referees-in-training and coaches by providing a handy reference that can confirm proper calls. By delivering instant, impartial rule decisions through a smartphone, Ruley helps keep games moving smoothly without devolving into arguments . This contributes to a more positive playing atmosphere, aligning with the founders’ goal of fostering sportsmanship and etiquette on the court . While specific download numbers or user statistics haven’t been publicly disclosed, the app’s availability on major app stores and its appeal to a broad base of pickleball participants suggest a growing user base. As word spreads in local pickleball communities (through social media and word-of-mouth at courts), Ruley is carving out a niche as an essential accessory for fair play. Its presence taps into the sport’s culture by even adopting pickleball lingo and scenarios in its AI training, making it a well-tailored solution that resonates with its target market.
Recognitions and Future Developments
In a short time, Ruley, the E-Referee has earned accolades and attention in both the sports and tech arenas. It was highlighted as a “groundbreaking app” that is changing how players learn and enjoy pickleball on the Kitchen Talk: Pickleball Edition podcast in October 2024 . This media exposure helped validate Ruley’s innovative approach and introduced it to a wider audience of pickleball enthusiasts. Additionally, Ruley’s concept and success landed it a spot at industry events – for example, in March 2025 Ruley the E Referee was a sponsor of the Racquet X Expo in Miami Beach Convention Center, including the expo’s startup pitch competition, showcasing the E-Referee on an innovation stage among other sports-tech startups.