The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 13 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 1 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Lemkin: Wealthfront's IPO is deeply broken and trading down 30-40%
“It's a deeply broken IPO. You know, it's trading down what? 30 or 40% from its IPO and it's subscale. Like it's worse. It's subscale, right?”
O'Driscoll: Wealthfront Will Become a Compounding Machine Like Charles Schwab
“Over the next 10 or 15 years, that generation is going to get rich. They're going to get rich with Wealthfront. They're going to keep their money there. And it's going to be a compounding machine, just like Charlie Schwab was a compounding machine”
Rachleff: Software can replicate 80% of endowment strategies for retail investors
“With software, we could do an eighty-twenty on what the endowments do and deliver their capabilities to the masses”
Automated financial advice will see major adoption by 2021, predicts Adam Nash
“Right now, people are fairly skeptical about this idea that we can move beyond automating investment and move to automating financial advice. But I think within the next three to five years, you're going to see phenomenal improvements in detailed, personalized…”
Computers will outperform human financial advisors by 2026, predicts Adam Nash
“At Wealthfront, we actually believe that over the next 10 years, we're going to see computers do this better than their human counterparts.”
Wealthfront Shut Down Its Growth Team to Focus on New Products
“And so eventually what we did at the Wealthfront in the early days of Wealthfront is I was the VP of growth, but at one point we said, you know what, the best thing for our business at this point is to shut down growth. And in its wake, Replace it with another…”
Rachleff: Charles Schwab's automated service cannot match Wealthfront on net returns
“Great example of that is Charles Schwab. They introduced a service last year that's the equivalent to what we introduced in It is in no way comparable on a net-of-fee, after-tax, risk-adjusted basis to what our service has evolved to today.”
Rachleff: Automated investment services are adopted twice as fast as ETFs
“And automated investment services, like Wealthfront, have been adopted at twice the rate that ETFs have.”
O'Driscoll: Wealthfront will compound out long term, but lacks short-term liquidity
“I think they will compound out. I actually like the company and have a mental note here to go check on it and see the valuation and maybe buy some, but you, Jason is right. It, it's not going to be a liquidity event in the short term because there's, it's not …”
Wealthfront approached $4 billion in AUM and 75,000 clients in 2016
“And now to see us getting close to, you know, four billion dollars and you know, over 75,000 clients and see the entire industry reshaping so that everyone's going to offer an automated service.”
Wealthfront grew from 17 to approximately 140 employees under Adam Nash
“When I joined Wealthfront there were 17 people at the company and now we're just about a 140.”