Andy Rachleff

So this is a service, a kind of service that's been offered to the very wealthy for many years, for decades.

As a matter of fact, Mitt Romney took advantage of this to pay really low taxes.

This was a big issue in the last presidential election.

But it's never been possible for the average retail investor to access this kind of capability because traditional advisors can only do it at year end.

It just takes too much time.

The beauty of software, software works 24-7.

So we can look for these losses daily.

And if you do tax loss harvesting just at year end, according to our research, that can add about

0.6% to your annual after-tax return.

But by looking for these losses daily, it can add, as I said, 1.5% to 2%.

It's really quite amazing.

About 4.4 billion.

Well, to give you some context,

I think that Vanguard manages $4 trillion and Charles Schwab manages something like $2.5 trillion.

So that's a tiny drop in the bucket relative to these behemoths.

And I think that retail investors have more than $20 trillion under management.

As a venture capitalist, what I used to focus on was rate of change, not absolute numbers.

What you find is that with every new technology that succeeds, it gets adopted at a faster rate.

So think about the rate at which the telephone was adopted and then radio and television and cellular telephony and the internet.

Each new major technology that gets adopted tends to get adopted at a faster rate and grows into a bigger market.