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 6 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 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
Rachleff: Wealthfront will deliberately alienate non-target users to serve core customers
“We will purposely piss people off With what we do if it serves our core target audience.”
Rachleff: Wealthfront software outperforms Goldman Sachs' $15M accounts for $500
“So basically what we're trying to do is take the financial services that are delivered to the very wealthy through people called private wealth managers, automate those services and software so we can deliver it for account minimums of as low as 500 dollars, a…”
Rachleff: Wealthfront's main competitor abandoned pure software for human advisors
“So even our closest competitor, which was pure software, has given it up, and they now have married advisors or planners to their software.”
Rachleff: Prefer superb product for 70% over average for 100%
“I'd rather that we build something that's great or superb for 70% of our clients and shitty for 30 than something that's pretty good for a hundred.”
Robo-advisors outperform traditional financial advisors while charging significantly lower fees
“So this is like companies like Wealthfront and Betterment, which are doing a better job and arguably than some financial advisors and charging a lot less because it turns out that software can do a better job of that.”
Rampell: Wealthfront originally launched as an active copy-trading platform named KaChing
“So Keqing was kind of a brilliant idea that was ahead of its time, which was there. So Andy Ratcliffe started this company because I think he was on the board of Penn University of Pennsylvania, and they had all of these Public hedge fund money managers, long,…”