Andy Rachleff

No, it was a venture capital firm.

That was just an abbreviation.

Probably because I'm not very bright.

Actually, I had retired from the venture capital business to give back.

That's why I went on the faculty of my grad school alma mater.

I became a trustee of my undergrad school alma mater.

And as you read, I'm soon to be the chairman of Penn's endowment committee.

Penn is, I think, the seventh largest endowment in the country.

And one day I was sitting in an endowment meeting and the management team was talking about how they generate the great returns that they did.

And I thought I could actually do a social good by using software to deliver what the premier university endowments did for the masses, thereby democratizing access to sophisticated investing.

So the idea found me.

I was not looking to start a company.

Well, it's interesting.

I've known Dave for a long, long time.

He's been an investor in my two venture capital firms.

and when he heard about wealthfront he said you know i think this is the best way to manage assets other than perhaps the top 10 endowments in the world and i took that as an amazing compliment do you guys follow any of his kind of portfolio theory you know 30 you know i mean he broke breaks it down in his book unconventional success but does wealthfront the code actually reflect some of that strategy

Well, the way that we allocate assets or the way that we generate our investment mix is based on the same techniques that he uses.

He has access to alternative assets, which we do not because you need to be an accredited investor to access that.

But the same methodology that he uses to build a diversified portfolio we use.

Sure.