Evolution of Next Generation Banking Service and Influence of Financial Industry Lobby on Regulations

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The chapter explores the transition from an investment service to a comprehensive banking service with features like high-yield cash accounts, passive investing, and automated financial planning accessible through a mobile app. It delves into the impact of robo advisors and contrasts them with traditional money managers, highlighting issues of automation, fee transparency, and fund choices. Additionally, it discusses the influence of the financial industry lobby on regulations like Dodd-Frank and emphasizes the importance of prioritizing clients' interests in financial institutions.

1:08 Jason intros Andy Rachleff
2:20 Where is Wealthfront at currently?
4:44 How are traditional money managers allowed to get away with so much?
10:19 How has Andy dealt with becoming the elder statesmen at his company?
14:15 What are Wealthfront Cash Accounts?
18:27 Wealthfront's long term vision
23:49 What is high-revenue retention? How does Wealthfront maintain it?
27:44 How has Silicon Valley changed since Andy started at Benchmark?
32:10 Andy describes his greatest skill as an investor
35:30 What were the 1980's like in Venture Capital?
40:05 What do you call a VC who's never lost money?
55:01 Jason & Andy discuss how Silicon Valley is viewed in the present day