Sourcery How Autopilot REVEALS Political Insider Trading | Chris Josephs
Apr 18, 2025
Chris Josephs, Co-Founder of Autopilot and former co-founder of the social investing app Iris, shares insights into political insider trading and the mission behind his innovative platform. He unpacks Nancy Pelosi's trading patterns and discusses the moral complexities of lawmakers trading stocks. The conversation also highlights Autopilot's growth strategies and creative marketing techniques, all aimed at democratizing investment for retail investors. Join Chris as he challenges traditional finance norms while navigating the intersection of tech, politics, and investing.
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Stock Act’s 2009 Origins
- Before 2009, there were no laws restricting politicians from insider trading.
- The Stock Act of 2009 was introduced to stop politicians trading on congressional knowledge.
Richard Burr's COVID Insider Trading
- Senator Richard Burr wrote an op-ed downplaying COVID severity while liquidating $1.4 million in stocks.
- His actions, considered insider trading, led to investigations but no charges and a quiet retirement.
Politicians’ Trading Hypocrisy
- Politicians are legally allowed to trade stocks despite having insider knowledge.
- This legal paradox creates blurred ethical lines and significant hypocrisy.