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Wealthfront didn't start out as a robo investor company: https://techcrunch.com/2008/12/15/sec-gives-social-investing-site-kaching-green-light-to-take-on-mutu

• shuckles 7y ago
  Andy goes into this in some detail in the class. He was an investor in the Facebook game. The Wealthfront pivot - which was indeed the case, since both depended on APIing the feed and broker layer – was partly inspired by many of his ex-students becoming rich in Facebook stock and coming to him with investing advice. He realized there was a generation of wealthy young people who didn’t want the hassle of an investment manager and couldn’t afford high-end management advice. Part of it also came from his exposure to the Ivy investing method through his role on the endowment investment committee at UPenn.
  • sjg007 7y ago
    So he says. A generation of Facebook stock option trustees would have plenty of money for traditional brokers. This is really a 401k 2.0 play.
    • shuckles 7y ago
      The kinds of active managers you want to give your money to request you have a lot more than just single digit millions of dollars. And as I outline in the other post, a business fires its initial customers many times over over a decade-long run.