Downtown Josh Brown

Like you are, we are.

We're in a heavily regulated business.

I know a lot of the fintech guys are running around on LinkedIn talking about all this shit.

But in reality, I actually don't think there are going to be big innovations that...

are initiated in financial services.

I think like most innovation waves, we're going to be more toward the end than toward the beginning, just given the nature of how little you can really experiment when you have people's personal data.

So that's just my gut.

I still think we should try.

And I still think that we should be experimenting or asking questions and trying to answer them with this new technology.

I don't think we should be taking customer information and uploading it into a cloud and hoping that it will spit back critical insights while simultaneously potentially compromising the people that we're responsible to.

That's a corporate policy here.

We're not going there.

So I know a lot of firms want to, but it won't be us.

Do you think the productivity boom—

has a positive externality in the stock market.

that outruns the threat of automation-driven job loss?

Like, are you a glass half full or a glass half empty or undecided?

I'm a glass half full.

Okay, just always by nature.

Somebody at UBS put out sort of like their own model of what this looks like, and they compared SaaS software companies to newspapers in the 90s.